| Identifier | Return Reference | Explanation |
|---|---|---|
| FAILURE TO FILE TIMELY | GENERAL INSTRUCTION M | THE ORGANIZATION DID NOT FILE TIMELY ITS 2014 RETURN BECAUSE THE ORGANIZATION WAS UNAWARE IT HAD A FILING REQUIREMENT SINCE THE ORGANIZATION HAD NOT YET BEEN FUNDED. ACCORDING TO GENERAL INSTRUCTION M, THE MAXIMUM PENALTY FOR THE RETURN IS THE SMALLER OF $10,000 OR 5% OF THE GROSS RECEIPTS OF THE ORGANIZATION FOR THE YEAR. THE GROSS RECEIPTS OF THE ORGANIZATION IS ZERO; THEREFORE THE SMALLER OF THE TWO CONDITIONS IS 5% OF THE GROSS RECEIPTS, OR ZERO. NO FAILURE TO FILE PENALTY IS DUE BY THE ORGANIZATION. |