Schedule K—Distributions to Beneficiaries

Use this schedule to report the type and amount of distributions that were made to each beneficiary. A copy of this schedule must be furnished to the sponsoring ANC. The sponsoring ANC, not the ANST, provides information to the beneficiaries regarding distributions. Distributions for each year are considered to have been made in the following order.

Tier I Distributions (Section 646(e)(1))

These are distributions from the ANST to the extent of the ANST's taxable income, reduced by any income tax paid by the ANST on that income, and increased by any tax-exempt interest income.

Tier I distributions are excluded from the gross income of the beneficiary. Tier II Distributions (Section 646(e)(2))

These are distributions of amounts that would have been Tier I distributions in prior years (during which a section 646

election was in effect), but that have not, in fact, been distributed in any prior year.

Tier II distributions are excluded from the gross income of the beneficiary. Tier III Distributions (Section 646(e)(3))

These are distributions considered to have been made by the sponsoring ANC with respect to its stock.

Tier III distributions are taxable to beneficiaries as dividends, to the extent of current or accumulated earnings and profits of the sponsoring ANC (after adjustment for distributions made by the sponsoring ANC during the year). Section 643(e) applies for purposes of determining the amount of a Tier III distribution of property (other than cash).

Tier IV Distributions (Section 646(e)(4))

These are distributions of any amounts that remain after applying the above rules. They are considered as amounts in excess of distributable net income for the year.

Tier IV distributions are excluded from the gross income of the beneficiary.

Paperwork Reduction Act Notice. We ask for the information on this form to carry out the Internal Revenue laws of the United States. You are required to give us the information to obtain benefit. Our legal right to ask for this information is in Internal Revenue Code section 646. We need it to ensure that you are complying with these laws and to allow us to figure and collect the right amount of tax. You are not required to provide the information requested on a form that is subject to the Paperwork Reduction Act unless the form displays a valid OMB control number. Books or records relating to a form, or its instructions must be retained as long as their contents may become material in the administration of any Internal Revenue law. Generally, tax returns and return information are confidential, as required by section 6103. The time needed to complete and file this form will vary depending on individual circumstances. The estimated burden for trusts filing this form is approved under OMB control number 1545-0092 and is included in the estimates shown in the Instructions for Form 1041.

If you have comments concerning the accuracy of these time estimates or suggestions for making this form simpler, we would be happy to hear from you. You can send us comments through IRS.gov/FormComments . Or you can send your comments to Internal Revenue Service, Tax Forms and Publications, 1111 Constitution Ave. NW, IR-6526, Washington, DC 20224. Don’t send the tax form to this address. Instead, see Where To File, earlier.

Instructions for Form 1041-N (Rev. 12-2025) 11