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10622: 5227 - Split Interest Trusts


1041 Fiduciary

Do I use 1041-A or Form 5227 for a split interest trust return? Is Form 5227 e-filed? Is there an extension? 


According to Form 1041-A Instructions, page 3:

"Split-interest trusts as described in section 4947(a)(2) don’t file Form 1041-A. These types of trusts file Form 5227, Split-Interest Trust Information Return, which meets the section 6034 filing requirements."

Form 5227 Instructions state that the following types of organizations should use Form 5227: 

"All charitable remainder trusts described in section 664 must file Form 5227. All pooled income funds described in section 642(c)(5) and all other trusts such as charitable lead trusts that meet the definition of a split-interest trust under section 4947(a)(2) must file Form 5227 unless the Exception [listed on page 1 of Form 5227 instructions] applies."

Form 5227, Split-Interest Trust Information Return, cannot be e-filed. The form is available in the 1041 fiduciary return by completing applicable screens on the 5227 tab. The presence of a Form 5227 does not prevent e-filing a 1041, but the 5227 is not transmitted with the 1041.

Print Form 5227 and paper file it as directed on page 3 of the Instructions for Form 5227. A calendar year Form 5227 is due by April 15, 20YY. A short-year final return is due by the 15th day of the 4th month following the termination.

If an extension of time to file is needed, paper file Form 8868 by the due date of the return. Screen 8868 is available on the 5227 tab. Be sure to check the box 5227 in the Application is for section to enter the correct code (10) on Form 8868. See the Form 8868 instructions for details. 

Both Form 5227 and Form 8868 must be paper-filed.


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