Split-Interest Trust: Annual Return (Form 5227)Internal Revenue Service-2025

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The document is Form 5227, a Split-Interest Trust Information Return required by the Internal Revenue Service (IRS) for reporting the financial activities of certain types of trusts, specifically charitable lead trusts and charitable remainder trusts. It includes sections for reporting trust details, income, deductions, distributions, and balance sheets for the tax year 2022. The form aims to ensure compliance with tax regulations while providing necessary information about the trust's financial status and charitable activities.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is split-interest trust?

A split-interest trust is a trust that: Is not exempt from tax, Has some unexpired interests that are devoted to purposes other than religious, charitable, or similar purposes described in Internal Revenue Code section 170(c)(2)(B), and.

Is form 5227 required to be filed electronically?

23, 2023. T.D. 9972 includes Regs. Secs. 301.6011-12 and 301.6011-13, which require all filers of Form 4720 and Form 5227, respectively, to file the return electronically if the taxpayer files at least 10 returns during the calendar year.

How does a split interest trust work?

The most common type of split-interest charitable trust is the charitable remainder trust. A charitable remainder trust will pay the income portion of the split interest trust to one or more non-charitable beneficiaries, with the remainder interest going to charity at the end of the trust life.

What are the benefits of a split trust?

Key benefits Decisions about who will benefit can be changed. A client can keep the right to receive critical illness and terminal illness benefits, whilst ensuring the benefits payable on their death are dealt with efficiently. It can help your client to reduce any potential Inheritance Tax (IHT).

Do I need to file a 1041 with a 5227?

If the amended return results in a change to income, or a change in distribution of any income or other information provided to a recipient, an amended Schedule K-1 (Form 1041) must be filed with the amended Form 5227 and a copy given to each recipient.

the 5227 irs

Form 5227 PDF Form 5227 instructions What is the extended due date for Form 5227 What is a split-interest trust Form 5227 due date Form 5227 example Form 5227 late filing penalty Form 5227 filing requirements

What happens if a CRT runs out of money?

If the CRT runs out of money before it would benefit the charity or charities of your choosing, those organizations do not receive any benefit, negating your good intent.

Who files the IRS form 5227?

Split-interest trusts must file Form 5227, Split-Interest Trust Information Return PDF, instead of filing Form 990-PF. See the instructions PDF for more information about when and where to file these returns, and how to obtain an extension of time to file.