What must an organization do if they need to reaffirm their exemption status every third year?

An organization must file a Further Statement to reaffirm their exemption status every third year. This requirement is designed to ensure that organizations maintain transparency and continue to meet the criteria for tax-exempt status. The Further Statement typically involves providing updated information about the organization's activities, governance, and financials, allowing the tax authorities to review whether the organization still qualifies under the relevant tax-exempt laws.

In contrast, the other options deal with different aspects of tax reporting or compliance that do not specifically address the reaffirmation of exemption status on a recurring three-year basis. For instance, a Factual Statement may pertain to specific details about an organization but isn’t specifically tied to the three-year requirement. A Summary Statement could summarize financials or activities, but again, this does not specifically address the need for reaffirmation of tax-exempt status. A Notice of Intent usually indicates plans or future actions rather than serving as a means to reaffirm status.