Reminders

Electronic filing. Under final regulations (T.D. 9972) issued in February 2023, filers are required to file Form 5227 electronically if they file 10 or more returns in the aggregate in a calendar year. The regulations are effective for returns required to be filed for tax years ending on or after December 31, 2023. See Where To File , later for more information.

Don't include social security numbers (SSNs) on public- ly disclosed forms. With the exception of the items described below, Form 5227 and its attachments are subject to public disclosure. Items not subject to disclosure include Schedule A (and any related early termination agreement); Schedule K-1; any Schedule K-1 continuation pages and transmittals; the trust agreement; trust amendments; Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation; Form 8582, Passive Activity Loss Limitations; Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund; and any attachment that references contributor or donor information.

definition of a split-interest trust under section 4947(a)(2) must file Form 5227 unless the Exception next applies.

• All transfers of corpus to the trust occurred before May 27, 1969, or

• As to each and every transfer of corpus to the trust made after May 26, 1969, no deduction was allowed under any of the sections listed in section 4947(a)(2).

If a split-interest trust created before May 27, 1969, receives a contribution to corpus after May 26, 1969, for which a deduction is allowed under any of the sections listed in section 4947(a)(2), the trust will cease to qualify for the exception described above. In that case, the split-interest trust must file Form 5227 for the year when the transfer to corpus occurs and each subsequent year, the same as any split-interest trust created after May 26, 1969.

Note: Regulations section 1.6012-3(a)(6) references Form 1041-B, Charitable Remainder Trust. Form 5227 replaces Form 1041-B. Regulations section 1.6034-1 references Form 1041-A, U.S. Information Return Trust Accumulation of Charitable Amounts. Form 5227 replaces Form 1041-A for split-interest trusts.

Which Parts To Complete The term “split-interest trust” refers to trusts of various types. See Definitions below. Certain parts of Form 5227 apply exclusively to a particular type of split-interest trust (such as a CRT, also referred to as a “section 664 trust”). Parts or lines that apply exclusively to a particular type of split-interest trust are identified in these instructions and on Form 5227 with a parenthetical identifying the type of trust to which the part or line applies. Parts or lines that aren't indicated as applying to a particular type of split-interest trust should be completed by every type of split-interest trust with one exception. Parts VII and VIII aren't completed by a charitable remainder or charitable lead trust whose charitable interests involve only cemeteries or war veterans’ posts (as described in sections 170(c)(3) and 170(c)(5)).