Part IV. Current Distributions

(Charitable lead trusts or pooled income funds only)

Line 1. A charitable lead trust uses line 1 of Part IV to report the aggregate amount of distributions made during the year to one or more noncharitable (private) beneficiaries. For example, when the lead period terminates, all future distributions are payable to the noncharitable beneficiary. However, because charitable lead trusts can vary considerably, the expiration of the lead period isn't the only context within which the trust may provide for payments to a noncharitable (private) beneficiary. See the annotations to the sample charitable lead trusts in Rev. Proc. 2007-45, 2007-29 I.R.B. 89, and Rev. Proc. 2007-46, 2007-29 I.R.B. 102, for examples of other situations in which amounts may be payable to a noncharitable beneficiary.

A pooled income fund uses line 1 of Part IV to report the amount distributable annually among one or more noncharitable (private) beneficiaries who hold income interests in the fund.