Federal Free Printable 2016 Form 5227 for 2017 Federal Split-Interest Trust Information Return

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Split-Interest Trust Information Return
2016 Form 5227

Form 5227 OMB No. 1545-0196 Split-Interest Trust Information Return See separate instructions. ▶ Information about Form 5227 and its instructions is at www.irs.gov/form5227. ▶ Do not enter social security numbers on this form (except on Schedule A) as it may be made public. 2016 ▶ Department of the Treasury Internal Revenue Service Open to Public Inspection Full name of trust A Employer identification number Name of trustee B Type of Entity Number, street, and room or suite no. (If a P.O. box, see the instructions.) (1) Charitable lead trust (2) Charitable remainder annuity trust described in section 664(d)(1) Charitable remainder unitrust described in section 664(d)(2) Pooled income fund described in section 642(c)(5) Other—Attach explanation (3) City or town, state or province, country, and ZIP or foreign postal code C Fair market value (FMV) of assets at end of tax year E Check applicable Initial return boxes (see the instructions) Change in trustee’s G ▶ (4) D Gross Income (5) Final return Amended return Name Address F Date the trust was created If the trust is a section 664 trust, did it have unrelated business taxable income? If “Yes,” file Form 4720 Part I 1 2a b 3 4 5 6 7 8 Yes Income and Deductions (All trusts complete Sections A through D) Section A—Ordinary Income Interest income . . . . . . . . . . . . . . . . . . . . . . . . . . Ordinary dividends (including qualified dividends) . . . . . . . . . . . . . . Qualified dividends (see the instructions) . . . . . . . . . . 2b Business income or (loss). Attach Schedule C or C-EZ (Form 1040) . . . . . . . . . Rents, royalties, partnerships, other estates and trusts, etc. Attach Schedule E (Form 1040) Farm income or (loss). Attach Schedule F (Form 1040) . . . . . . . . . . . . . Ordinary gain or (loss). Attach Form 4797 . . . . . . . . . . . . . . . . . Other income. List type and amount ▶ Total ordinary income. Combine lines 1, 2a, and 3 through 7 . . . . . . . . . . . . . . 1 2a . . . . . . . . . ▶ 3 4 5 6 7 8 No Section B—Capital Gains (Losses) 9 10 11 12 13 Total short-term capital gain or (loss). Attach Schedule D, Part I (Form 1041) . Total long-term capital gain or (loss). Attach Schedule D, Part II (Form 1041) . . Unrecaptured section 1250 gain . . . . . . . . . . . . . 11 28% gain . . . . . . . . . . . . . . . . . . . . . 12 Total capital gains (losses). Combine lines 9 and 10 . . . . . . . . . . . . . . . . . . . . . 9 10 . . . . . ▶ 13 Section C—Nontaxable Income 14 15 Tax-exempt interest . . . . . . . . . . Other nontaxable income. List type and amount ▶ . . . . . . . . . . . . . . . . 14 16 Total nontaxable income. Add lines 14 and 15 . . . . . . . . . . . . . . . . ▶ 15 16 17 18 19 20 21 22 23 Interest . . . . . . . . . . . . . . . . . . . . Taxes (see the instructions) . . . . . . . . . . . . . . Trustee fees . . . . . . . . . . . . . . . . . . . Attorney, accountant, and return preparer fees . . . . . . . Other allowable deductions. Attach statement (see the instructions) Total. Add lines 17 through 21 . . . . . . . . . . . . . Charitable deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 18 19 20 21 22 24a b 25a b 26a b Enter the amount from line 22 allocable to ordinary income . Subtract line 24a from line 8 . . . . . . . . . . . Enter the amount from line 22 allocable to capital gains (losses) Subtract line 25a from line 13 . . . . . . . . . . . Enter the amount from line 22 allocable to nontaxable income Subtract line 26a from line 16 . . . . . . . . . . . . . . . . . . . . . . . 24a 24b 25a 25b 26a 26b Section D—Deductions Section E—Deductions Allocable to Income Categories (Section 664 trust only) For Paperwork Reduction Act Notice, see the instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cat. No. 13227T . . . . . . . . . . . . Form 5227 (2016) Form 5227 (2016) Part II Page (a) Ordinary income Accumulations Excluded Income Net Investment Income (NII) Classification 27 Undistributed income from prior tax years . 28 Current tax year net income (before distributions): • In column (a), enter the amount from line 24b • In column (b), enter the amount from line 25b • In column (c), enter the amount from line 26b Total distributable income. Add lines 27 and 28 29 Part III-A 30 31 2 Schedule of Distributable Income (Section 664 trust only) See the instructions (b) Capital gains (losses) Accumulated NII post 2012 Excluded Income (c) Nontaxable income Accumulated NII post 2012 Excluded Income Accumulated NII post 2012 . Distributions of Principal for Charitable Purposes Principal distributed in prior tax years for charitable purposes . . . . . . . . . . . . Principal distributed during the current tax year for charitable purposes. Fill in the information for columns (A), (B), and (C) and enter the amount distributed on the space to the right. (see the instructions) (A) Payee’s name and address (B) Date of distribution 30 (C) Charitable purpose and description of assets distributed a 31a b 31b c 32 Total. Add lines 30 through 31c Part III-B 33a . . . . . . . . . . . . . . . . . . . . . . 31c 32 Accumulated Income Set Aside and Income Distributions for Charitable Purposes Grantor type trusts complete only lines 35 and 36 (see the instructions) Accumulated income set aside in prior tax years for which a deduction was claimed under section 642(c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . b Enter the amount shown on line 23 . . . . . . . . . . . . . . . . . . . . . 34 Add lines 33a and 33b . . . . . . . . . . . . . . . . . . . . . . . . . 35 Distributions made during the tax year (see the instructions): • For income set aside in prior tax years for which a deduction was claimed under section 642(c), • For charitable purposes for which a charitable deduction was claimed under section 642(c) in the current tax year, or • For charitable purposes by a grantor type trust for which a charitable deduction was claimed under section 170 upon contribution to the trust Fill in the information for columns (A), (B), and (C) and enter the amount distributed on the line to the right. (A) Payee’s name and address (B) Date of distribution 33a 33b 34 (C) Charitable purpose and description of assets distributed a 35a b 35b c 36 37 Add lines 35a through 35c . . . . . Carryover. Subtract line 36 from line 34 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35c 36 37 Form 5227 (2016) Form 5227 (2016) Part IV Page (a) Beginning-ofYear Book Value Assets 38 39 40a b 41 Cash—non-interest-bearing . . . . . . . . . . . . . . . Savings and temporary cash investments . . . . . . . . . . Accounts receivable . . . . . . . . . . 40a Less: allowance for doubtful accounts . . . . 40b Receivables due from officers, directors, trustees, and other disqualified persons (attach statement) . . . . . . . . . . . 42a b 43 44 45a Other notes and loans receivable . . . . . 42a Less: allowance for doubtful accounts . . . 42b Inventories for sale or use . . . . . . . . . . . . Prepaid expenses and deferred charges . . . . . . . Investments—U.S. and state government obligations statement) . . . . . . . . . . . . . . . . . b Investments—corporate stock (attach statement) . . . . c Investments—corporate bonds (attach statement) . . . 46a Investments—land, buildings, and equipment: basis (attach statement) . . . . . . . . 46a b 47 48a b 49 50 3 Balance Sheet (see the instructions) . . . . . . . . (attach . . . . . . . . . Less: accumulated depreciation . . . . . 46b Investments—other (attach statement) . . . . . . . . . . . Land, buildings, and equipment: basis . . . 48a Less: accumulated depreciation . . . . . 48b Other assets. Describe ▶ Total assets. Add lines 38 through 49 (must equal line 60) . . . ▶ Liabilities 51 Accounts payable and accrued expenses . . . . . . . . . . 52 Deferred revenue . . . . . . . . . . . . . . . . . . 53 Loans from officers, directors, trustees, and other disqualified persons 54 Mortgages and other notes payable (attach statement) . . . . . . 55 Other liabilities. Describe ▶ 56 Total liabilities. Add lines 51 through 55 . . . . . . . . . ▶ Net Assets 57 Trust principal or corpus . . . . . . . . . . . . . . . . 58a Undistributed income . . . . . . . . . . . . . . . . . b Undistributed capital gains . . . . . . . . . . . . . . . c Undistributed nontaxable income . . . . . . . . . . . . . 59 Total net assets. Add lines 57 through 58c . . . . . . . . . 60 Total liabilities and net assets. Add lines 56 and 59 . . . . . . (b) End-of-Year Book Value (c) FMV (see the instructions) 38 39 41 43 44 45a 45b 45c 47 49 50 51 52 53 54 55 56 57 58a 58b 58c 59 60 Form 5227 (2016) Form 5227 (2016) Part V-A Page 61a Enter the initial fair market value (FMV) of the property placed in the trust . b Enter the total annual annuity amounts for all recipients . . . . . . Part V-B 62 63 64 4 Charitable Remainder Annuity Trust (CRAT) Information (to be completed only by a Section 664 CRAT) . . . . . . . . . . . . . . . . 61a 61b . . Charitable Remainder Unitrust (CRUT) Information (to be completed only by a Section 664 CRUT) See the instructions Is the CRUT a net income charitable remainder unitrust (NICRUT) as described in Regulations section 1.664-3(a)(1)(i)(b)(1)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Is the CRUT a net income with make-up charitable remainder unitrust (NIMCRUT) as described in Regulations section 1.664-3(a)(1)(i)(b)(2)? . . . . . . . . . . . . . . . . . . . . . . . . . . . Did the trust change its method of payment during the tax year? . . . . . . . . . . . . If “Yes,” describe the triggering event including the date of the event and the old method of payment . . Yes No Yes Yes No No ▶ 65a Enter the unitrust fixed percentage to be paid to the recipients . . . . . . . . . . . . . b Unitrust amount. Subtract line 56, column (c), from line 50, column (c), and multiply the result by the percentage on line 65a. Do not enter less than -0- . . . . . . . . . . . . . . . . . If the answer is “Yes” on line 62 or line 63, go to line 66a. Otherwise, skip lines 66a through 67b and enter the line 65b amount on line 68. 65b 66a 66a Trust’s accounting income for 2016. Attach statement . . . . . . . . . . . . . . . . If the answer is “Yes” on line 62, go to line 66b. If the answer is “Yes” on line 63, skip line 66b and go to line 67a. 65a % b Enter the smaller of line 65b or line 66a here and on line 68. Skip lines 67a and 67b . . 67a Total accumulated distribution deficiencies from previous years (see the instructions) . . b Add lines 65b and 67a . . . . . . . . . . . . . . . . . . . . . . If lines 67a and 67b are completed, enter the smaller of line 66a or line 67b on line 68. 68 Required unitrust distribution for 2016 . . . . . . . . . . . . . . . . . 69 Carryover of accumulated distribution deficiency (only for trusts that answered “Yes” Subtract line 68 from line 67b . . . . . . . . . . . . . . . . . . . . . . . 70 71 . . . . . . . . . . . . Yes No . . . . . . . Yes No 72 If this is the final return, enter the initial FMV of all assets placed in trust by the donor . Did the trustee change the method of determining the fair market value of the assets? If “Yes,” attach an explanation. Were any additional contributions received by the trust during 2016? . . . . . . If “Yes,” be sure to complete all columns of line 7 in Schedule A, Part III. Part VI-A 73 74 . . . . . . 66b 67a 67b . . . 68 . . . . on line 63). . . . . 69 70 Statements Regarding Activities (see the instructions) Are the requirements of section 508(e) satisfied either: • By the language in the governing instrument; or • By state legislation that effectively amends the governing instrument so that no mandatory directions that conflict with the state law remain in the governing instrument? . . . . . . . . . . . . . . Are you using this return only to report the income and assets of a segregated amount under section 4947(a)(2)(B)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes No 73 74 Form 5227 (2016) Form 5227 (2016) Part VI-B Page File Form 4720 if any item is checked in the “Yes” column (to the right), unless an exception applies. 75 Self-dealing (section 4941): a During 2016, did the trust (either directly or indirectly): Yes No (1) Engage in the sale or exchange, or leasing of property with a disqualified person? (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person? . . . . . . . . . . . . . . . . . . . . . Yes No Yes No (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? . (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? . Yes No (5) Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)? . . . . . . . . . . . . . Yes No (6) Agree to pay money or property to a government official? (Exception. Check “No” if the trust agreed to make a grant to or to employ the official for a period after termination of government service, if terminating within 90 days.) . . . . . . . . . . . . Yes No b If any answer is “Yes” to lines 75a(1) through (6), did any of the acts fail to qualify under the exceptions described in Regulations sections 53.4941(d)-3 and 4, or in a current Notice regarding disaster assistance (see the instructions)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75b Organizations relying on a current Notice regarding disaster assistance, check here . . . . ▶ Did the trust engage in a prior year in any of the acts described in line 75a, other than excepted acts, that were not corrected before January 1, 2016? . . . . . . . . . . . . . . . . . . . . . 75c c 76 77 a Does section 4947(b)(3)(A) or (B) apply? (see the instructions) . . . . . . . . . . If “Yes,” check the “N/A” box in lines 77 and 78. N/A Taxes on excess business holdings (section 4943): Did the trust hold more than a 2% direct or indirect interest in any business enterprise at any time during 2016? . . . . . . . . . . . . . . . . . . . . . . Yes Use Schedule C, Form 4720, to determine if the trust had excess business holdings in 2016. 78 Taxes on investments that jeopardize charitable purposes (section 4944): N/A a Did the trust invest during 2016 any amount in a manner that would jeopardize its charitable purpose? . . b Did the trust make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before January 1, 2016? . . . . . . . a Taxes on taxable expenditures (section 4945) and political expenditures (section 4955): During 2016, did the trust pay or incur any amount to: (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? . (2) Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive? . . . . . . . . . . . Yes No (3) Provide a grant to an individual for travel, study, or other similar purposes? . . . . (4) Provide a grant to an organization other than a charitable, etc., organization described in section 509(a)(1), (2), or (3), or section 4940(d)(2)? . . . . . . . . . . . . (5) Provide for any purpose other than religious, charitable, scientific, literary, or educational, or for the prevention of cruelty to children or animals? . . . . . . Yes Yes No No Yes No Yes No b If any answer is “Yes” to lines 79a(1) through (5), did any of the transactions fail to qualify under the exceptions described in Regulations section 53.4945, or in a current Notice regarding disaster assistance (see the instructions)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c 80 a Organizations relying on a current Notice regarding disaster assistance, check here . . . If the answer is “Yes” to line 79a(4), does the trust claim exemption from the tax because it maintained expenditure responsibility for the grant? . . . . . . . . . . . . If “Yes,” attach the statement required by Regulations section 53.4945-5(d). Personal benefit contracts (section 170(f)(10)): Did the trust, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract? . . . . . . . . . . . . . . . . . . . . . Yes No No Yes No b If “Yes,” did the trust have excess business holdings in 2016 as a result of (1) any purchase by the trust or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse of the 10-, 15-, or 20-year first phase holding period? . . . . . . . . . . . . . . 79 5 Statements Regarding Activities for Which Form 4720 May Be Required 77b 78a 78b 79b ▶ Yes Yes b Did the trust, during the year, pay premiums, directly or indirectly, on a personal benefit contract? . If “Yes” to line 80b, file Form 8870 (see the instructions). No No . . 80b Form 5227 (2016) Form 5227 (2016) Part VII Page 6 Questionnaire for Charitable Lead Trusts, Pooled Income Funds, and Charitable Remainder Trusts (see the instructions) Section A—All Trusts 81 82 Check this box if any of the split-interest trust’s income interests expired during 2016 Check this box if all of the split-interest trust’s income interests expired before 2016 . If line 82 (above) is checked and this is not a final return, attach an explanation. . . . . . . . . . . . . . . . . . . ▶ ▶ Section B—Charitable Lead Trusts 83 84 85 Does the governing instrument require income in excess of the required annuity or unitrust payments to be paid for charitable purposes? . . . . . . . . . . . . . . . . . . . . . . . . . . Yes No 84 85 Enter the amount of any excess income required to be paid for charitable purposes for 2016 . . . Enter the amount of annuity or unitrust payments required to be paid to charitable beneficiaries for 2016 . Section C—Pooled Income Funds 86 Enter the amount of contributions received during 2016 . 86 87 88 Enter the amount required to be distributed for 2016 to satisfy the remainder interest . . . . . Enter any amounts that were required to be distributed to the remainder beneficiary that remain undistributed . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87 Enter the amount of income required to be paid to the charitable remainder beneficiary for 2016 . 89 89 . . . . . . . . . . . . . 88 Section D—Charitable Remainder Trusts 90 Check this box if you are filing for a charitable remainder annuity trust or a charitable remainder unitrust whose charitable interests involve only cemeteries or war veterans’ posts . . . . . . . . . . . . . . . . ▶ 91 Check this box if you are making an election under Regulations section 1.664-2(a)(1)(i)(a)(2) or 1.664-3(a)(1)(i)(g)(2) to treat income generated from certain property distributions (other than cash) by the trust as occurring on the last day of the tax year. (see the instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . ▶ Are you making an election under Regulations section 1.1411-10(g) with respect to a controlled foreign corporation or a qualified electing fund? (see the instructions) . . . . . . . . . . . . . . . Yes 92 93 94 95a b c Is this the initial return? If “Yes,” attach a copy of the trust instrument . . . . . . Was the trust instrument amended during the year? If “Yes,” attach a copy . . . . If this is the final return, were final distributions made according to the trust instrument? If “Yes,” did you complete line 31? . . . . . . . . . . . . . . . . . If either line 95a or 95b is “No,” explain why ▶ 96 At any time during calendar year 2016, did the trust have an interest in or a signature or other authority over a bank, securities, or other financial account in a foreign country? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes Yes Yes Yes No No No No No Yes No See the instructions for exceptions and filing requirements for FinCEN Form 114. If “Yes,” enter the name of the foreign country ▶ ▲ Paid Preparer Use Only ▲ Sign Here Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than trustee) is based on all information of which preparer has any knowledge. Signature of trustee or officer representing trustee Print/Type preparer’s name Firm’s name ▶ Firm’s address ▶ Preparer’s signature Date Date Check if self-employed PTIN Firm’s EIN ▶ Phone no. Form 5227 (2016) Form 5227 (2016) Page 7 Employer identification number Full name of trust NOT Open To Public Inspection Schedule A—Distributions, Assets, and Donor Information Part I-A Accumulation Schedule (Section 664 trust only) (see the instructions) (a) Ordinary income Accumulations Excluded Income Net Investment Income (NII) Classification (b) Capital gain (loss) Accumulated NII Excluded Income (c) Nontaxable income Accumulated NII Excluded Income Accumulated NII 1 Total distributable income. Enter the amount from line 29 . . . . . . . . . . . . . . 2a Total distributions for 2016: b 2016 distributions from income . . . . . 3 Undistributed income at end of tax year. Subtract line 2b from line 1 . . . . . . . . . . Part I-B Simplified Net Investment Income Calculation (a) Accumulated NII (b) Current Year NII (c) Distributions (d) Ending NII 4 Part II-A Current Distributions Schedule (Section 664 trust only) (see the instructions) (a) Name of recipient (c) Percentage of total unitrust amount payable (if applicable) (b) Identifying number 4a b c % % % (d) Ordinary Income Capital gains (e) Short-term (f) Long-term (g) Nontaxable Income (i) Total (add cols. (d) through (h)) (h) Corpus (j) Net investment income 4a b c Total If Part II-A, Total, column (i) does not agree with line 61b of Form 5227 for a CRAT or line 68 of Form 5227 for a CRUT, check and attach an explanation. here ▶ Part II-B 5 Part III 6 Current Distributions (charitable lead trusts or pooled income funds only) (see the instructions) Enter the amount required to be paid to private beneficiaries for 2016 . . . . . . . . . . ▶ . . Assets and Donor Information (Section 664 trust or charitable lead trust only) Is this the initial return or were additional assets contributed to the trust in 2016? . If “Yes,” complete the schedule below. If “No,” complete only column (a) of the schedule below. (a) Name and address of donor (b) Description of each asset donated . . . . (c) Fair market value of each asset on date of donation . Yes . No (d) Date of donation 7a 7b 7c 7d Total . . . . . . . . . . . . . . . . . . . . ▶ 8 For charitable remainder trusts: If this was the final year, was an early termination agreement signed by all parties to the trust? . . . . . . . . . . . . . . . . . . . . . . . . Yes No N/A If “Yes,” attach a copy of the signed agreement. Form 5227 (2016)
Extracted from PDF file 2016-federal-form-5227.pdf, last modified October 2016

More about the Federal Form 5227 Other TY 2016

We last updated the Split-Interest Trust Information Return in May 2017, so this is the latest version of Form 5227, fully updated for tax year 2016. You can download or print current or past-year PDFs of Form 5227 directly from TaxFormFinder. You can print other Federal tax forms here.

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Form Sources:

The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal Form 5227 from the Internal Revenue Service in May 2017.

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Historical Past-Year Versions of Federal Form 5227

We have a total of five past-year versions of Form 5227 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2016 Form 5227

2016 Form 5227

Split-Interest Trust Information Return 2015 Form 5227

2015 Form 5227

Split-Interest Trust Information Return 2014 Form 5227

2014 Form 5227

Split-Interest Trust Information Return 2012 Form 5227

2011 Form 5227

Split-Interest Trust Information Return 2011 Form 5227

2011 Form 5227


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