On May 9th the Internal Revenue Service posted these instructions on their web page:
Public Inspection and Disclosure of Form 990-T
The IRS has provided interim guidance on the requirement that section 501(c)(3) organizations (charities) make available for public inspection Forms 990-T, Exempt Organization Business Income Tax Return. Notice 2008-49 provides as follows:
Guidelines in Treas. Reg. § 301.6104(d)-1 and Notice 2007-45 for making annual returns available for inspection and copying generally continue to apply, except that a return covered by the guidelines includes an exact copy of a Form 990-T filed by a charity after August 17, 2006. The return also includes any schedules, attachments, and supporting documents that relate to the imposition of tax on the unrelated business income of the charity. Schedules, attachments and supporting documents that do not relate to the imposition of the unrelated business income tax do not have to be made available for inspection and copying.
A charity must make Form 990-T available only for the three years beginning on the last day (including extensions) for filing the return.
The IRS now must make Forms 990-T filed by charities publicly available; Announcement 2008-21 sets forth procedures for requesting Forms 990-T from the IRS.
The IRS and Treasury Department invite comments on implementation of the new public inspection requirement for Form 990-T, including what schedules or attachments should not be available for public inspection when attached to Form 990-T. See section 4 of Notice 2008-49 for additional information.