Decedent as incorporator of two NP's

[Margaret CPA in OH]

I will get more information (I hope!) next week from the niece of a decedent (DOD 3.23.21) who left very few records.  Apparently he was the incorporator of 2 nonprofits and IRS is asking for 2020 990 for one of them.  State records show 3 names on one of them but all  are now deceased and niece can find no records for either entity - at least not yet.  She did find out that there exists a bank account for one of them but cannot access it.  Oh, he likely had not filed personal income tax returns for a couple of years due to severe health issues but he may also have not been required to file.  Don't yet know.

So 8821 and 56 for personal transcripts but what to do about the entities?  There are no live responsible parties for either and no officers or shareholders or, well, anyone.  I'm at a loss but want to be prepared to ask appropriate questions of the niece.  She is pretty lost but wants to do the right thing.  It may be a challenge to even get any outstanding tax returns filed.  So far as I know now, he was intestate but had a house which family is in the process of preparing for sale.  They have paid the current real estate tax due.

Any help, suggestions appreciated.  I think an attorney will be in the mix at some point, one of my questions, for sure.

 

[Lee B]

There are so many loose ends and unanswered questions that all you can do at this point is gather information.

When you have this many unknowns, It's too early to give any concrete advice.

If it was my client, I would advise them to get an attorney involved now.

 

[joanmcq]

Were either of the NPs doing any work? You may just have to file the ‘postcard’ and dissolve

[Margaret CPA in OH]

My guess is that there was nothing done within the prior 2 years, at least, due to the declining health of this person.  I'm just not sure who could file the postcard or who can dissolve the corporations as there are no living people associated with either.  I suppose it is possible to just let them 'die' at the state level when the charters are not renewed.  I can imagine that this is not terribly uncommon.  Of course the bank account and any other assets (no idea yet if any exist) have to go to another nonprofit.  I'm hoping for answers Friday!  And maybe Practitioner's hotline at some point.