Treasury Regulatory Agenda Includes Forthcoming Form 990 Changes

Last week, the Trump Administration released its 2026 Unified Regulatory Agenda(URA), providing an updated roadmap of the U.S. Department of the Treasury's regulatory priorities for the coming year.

The agenda identifies more than 100 rulemaking projects and indicates that Treasury and the Internal Revenue Service (IRS) will continue focusing much of their regulatory work on implementing provisions of the 2025 One Big Beautiful Bill Act (OBBBA) including the new tax credit for contributions to scholarship-granting organizations and regulations governing 530A Trump Accounts.

For the association community and other tax-exempt organizations, the agenda also highlights several initiatives that could have broader implications for the nonprofit sector, including anticipated revisions to the Form 990 and long-pending regulations related to donor-advised funds. 

ASAE and many nonprofit organizations continue to monitor Treasury's planned changes to the Form 990 following the department's April announcement that it intends to revise reporting requirements for section 501(c)(3) organizations.

Treasury has indicated that the IRS will publish proposed revisions for public comment before any changes are finalized. According to Treasury, the proposed revisions are intended to improve transparency, strengthen tax administration, and enhance reporting related to government contracts, government grants, and fiscal sponsorship arrangements. The department has said the changes are designed to help the IRS better identify misconduct while improving accountability among tax-exempt organizations.

This article was provided to OSAP by ASAE's Power of Associations and Inroads.