No termination after transfer of assets | Internal Revenue Service

No termination after transfer of assets

 

Unless the foundation notifies the Manager, EO Determinations, of its intent to terminate, no termination can take place under
section 507(a)(1) if:

  • The private foundation transfers all or part of its assets to another private foundation, or to one or more private foundations,
  • The private foundation transfers all or part of its assets to one or more section 509(a)(2), (3), or (4) organiza­tions, or
  • The private foundation transfers only part of its assets to one or more section 509(a)(1) organizations, pursuant to a liquidation, merger, redemption, recapitalization, or other adjustment, organization, or reorganization

Return to Life Cycle of a Private Foundation