Instructions For Form 5227 (Page 2 of 12) in pdf

a. A private foundation which is effectively controlled

Period To Be Covered by Return

(directly or indirectly) by the same persons who control

File Form 5227 for each calendar year. This revision of

the trust in question or

the form is for the 2003 calendar year.

b. A private foundation substantially all of the

contributions to which were made (directly or indirectly)

Accounting Methods

by the same person or persons described in 1, 2, or 3

Trust income must be computed using the method of

above, or members of their families, within the meaning

accounting regularly used in keeping the trust’s books

of section 4946(d), who made (directly or indirectly)

and records. Generally, permissible methods include the

substantially all of the contributions to the trust in

cash method, the accrual method, or any other method

question.

authorized by the Internal Revenue Code. The method

7. For purposes of section 4941 (self-dealing), a

used must clearly reflect income.

disqualified person also includes certain government

Unless otherwise allowed by law, the trust may not

officials. (See section 4946(c) and the related

change the accounting method used to report income (for

regulations.)

income as a whole or for any material item) without first

getting consent on Form 3115, Application for Change in

Accounting Method. See Pub. 538, Accounting Periods

Phone Help

and Methods, for more details.

If you have questions and/or need help completing this

form, please call 1-877-829-5500. This toll-free telephone

When To File

service is available Monday through Friday from 8:00

File Form 5227 for calendar year 2003 on or before April

a.m. to 6:30 p.m. Eastern time.

15, 2004.

Additional Information

Extension of Time To File

Use Form 8868 to request an automatic 3-month

For additional information on private foundations and

extension of time to file. The request for an automatic

foundation managers, see Pub. 578, Tax Information for

extension must be filed by the due date of the return.

Private Foundations and Foundation Managers.

After receiving an automatic 3-month extension, you can

also use Form 8868 to apply for an additional (not

Other Forms You May Have To File

automatic) 3-month extension. The request for an

You may also be required to file one or more of the

additional 3-month extension must be filed by the

following forms:

extended due date of the return.

•

Form 56, Notice Concerning Fiduciary Relationship.

•

Where To File

Form 1041, U.S. Income Tax Return for Estates and

Trusts.

File all Forms 5227 at the following address:

•

Internal Revenue Service Center

Form 1041-A, U.S. Information Return —Trust

Ogden, UT 84201-0027

Accumulation of Charitable Amounts.

•

Form 1041-ES, Estimated Income Tax for Estates and

Private delivery services (PDSs). In addition to the

Trusts.

United States mail, exempt organizations can use certain

•

Form 4720, Return of Certain Excise Taxes on

private delivery services designated by the IRS to meet

Charities and Other Persons Under Chapters 41 and 42

the “timely mailing as timely filing/paying” rule for tax

returns and payments. The most recent list of designated

of the Internal Revenue Code.

•

PDSs was published by the IRS in September 2002. This

Form 8275, Disclosure Statement —to disclose items

list includes only the following:

or positions (except those contrary to a regulation —see

•

Airborne Express (Airborne): Overnight Air Express

Form 8275-R below) that are not otherwise adequately

Service, Next Afternoon Service, Second Day Service.

disclosed on the tax return. The disclosure is made to

•

DHL Worldwide Express (DHL): DHL “Same Day”

avoid parts of the accuracy-related penalty for disregard

Service, DHL USA Overnight.

of rules or substantial understatement of tax. Form 8275

•

Federal Express (FedEx): FedEx Priority Overnight,

is also used for disclosures relating to preparer penalties

FedEx Standard Overnight, FedEx 2 Day, FedEx

for understatements due to unrealistic positions or for

International Priority, and FedEx International First.

willful or reckless conduct.

•

United Parcel Service (UPS): UPS Next Day Air, UPS

•

Form 8275-R, Regulation Disclosure Statement —to

Next Day Air Saver, UPS 2nd Day Air, UPS 2nd Day Air

disclose any item on a tax return for which a position has

A.M., UPS Worldwide Express Plus, and UPS Worldwide

been taken that is contrary to Treasury regulations.

Express.

•

Form 8822, Change of Address.

The private delivery service can tell you how to get

•

Form 8868, Application for Extension of Time To File

written proof of the mailing date.

an Exempt Organization Return.

•

Form 8870, Information Return for Transfers

Trust Instrument

Associated With Certain Personal Benefit Contracts.

When you file the first return for a charitable remainder

annuity trust or unitrust, include:

You can order forms and publications 24 hours a day,

7 days a week, by calling 1-800-TAX-FORM

1. A copy of the trust instrument and

(1-800-829-3676). You can also get most forms and

2. A written declaration under penalties of perjury that

publications at your local IRS office.

it is a true and complete copy.

-2-

Instructions For Form 5227 Page 2

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