Instructions For Form 5227 (Page 3 of 12) in pdf

For sample forms of trusts that meet the requirements

If the trust has not received its EIN by the time the return

of a charitable remainder unitrust, see Rev. Proc.

is due, write “Applied for” in the space for the EIN. For

89-20, 1989-1 C.B. 841, Rev. Proc. 90-30, 1990-1 C.B.

more details, see Pub. 583.

534, and Rev. Proc. 90-31, 1990-1 C.B. 539.

Note: The online application process is not yet available

For sample forms of a trust that meet the requirements

for trusts with addresses in foreign countries or Puerto

of a charitable remainder annuity trust, see Rev. Proc.

Rico

89-21, 1989-1 C.B. 842, and Rev. Proc. 90-32, 1990-1

B. Type of Entity

C.B. 546.

Charitable lead trust. This is a trust that pays a fixed

Rounding Off to Whole Dollars

annuity or unitrust amount to a charitable organization for

a fixed number of years. Upon termination of the

You may round off cents to whole dollars on your return

payments, the remainder interest is transferred to a

and schedules. If you do round dollars, you must round

noncharitable beneficiary.

all amounts. To round, drop amounts under 50 cents and

increase amounts from 50 to 99 cents to the next dollar.

Charitable remainder annuity trust. This is a trust

For example, $1.39 becomes $1 and $2.50 becomes $3.

under section 664(d)(1) that pays a fixed dollar amount

If you have to add two or more amounts to figure the

(not less than 5% but not more than 50% of the initial net

amount to enter on a line, include cents when adding the

fair market value of all property placed in trust), at least

amounts and round off only the total.

annually, to one or more beneficiaries, at least one of

which is not a charitable organization, for life, or for a

Attachments

specified number of years (not to exceed 20). Upon

termination of the payments, the remainder interest

If you need more space, attach separate sheets showing

(valued at 10% or more) is transferred to a charitable

the same information in the same order as on the printed

organization described in section 170(c), or qualified

form. Show the totals on the printed form.

employer securities are transferred to an employee stock

Enter the trust’s name and employer identification

ownership plan.

number on each sheet. Also, use sheets that are the

Charitable remainder unitrust. This is a trust under

same size as the forms and indicate clearly the line of the

section 664(d)(2) similar to a charitable remainder

printed form to which the information relates.

annuity trust, except that it pays, at least annually, a fixed

percentage (not less than 5% but not more than 50%) of

the net fair market value of the trust’s assets.

Specific Instructions

Pooled income fund. This is a trust under section

642(c)(5) created and maintained by a charitable

Identification Area

organization described in section 170(b)(1)(A)(i)-(vi).

If you received a Form 5227 from the IRS with a peel-off

Donors to the fund receive a lifetime income interest and

the charitable organization receives the remainder

label, attach the label to the name and address area of

interest.

the return. If the name or address on the label is wrong,

draw a line through the incorrect portion and enter the

E. Initial Return, Final Return, Amended

correct information.

Return; or Change of Name or Address

If you did not receive a peel-off label, complete the

information called for at the top of the form as it appears

Initial return. Check this box if this is the initial return for

on Form SS-4, Application for Employer Identification

the split-interest trust and enter the date that the entity

Number.

was created.

Address

Final return. Check this box if this is a final return

because the trust has terminated. Also, check the “Final

Include the suite, room, or other unit number after the

K-1” box at the top of the Schedule K-1 (Form 1041).

street address.

Amended return. If you are filing an amended 2003

If the postal service does not deliver mail to the street

Form 5227, check the “Amended return” box. Complete

address and the trustee has a P.O. box, show the box

the entire return and correct the appropriate lines with the

number instead.

new information. On an attachment, explain the reason

A. Employer Identification Number (EIN)

for the changes and identify the lines and amounts being

changed.

Every trust must have an employer identification number

(EIN). An EIN may be applied for:

If the amended return results in a change to income,

•

Online - Click on the EIN link at

or a change in distribution of any income or other

businesses/small. The EIN is issued immediately once

information provided to a recipient, an amended

the application information is validated.

Schedule K-1 (Form 1041) must be filed with the

•

By telephone at 1-800-829-4933 from 7:30 a.m. to 5:30

amended Form 5227 and a copy given to each recipient.

p.m. in the trust’s local time zone.

Check the “Amended K-1” box at the top of the Schedule

•

By mailing or faxing Form SS-4, Application for

K-1 (Form 1041).

Employer Identification Number. You may get this form

Change of name or address. If there has been a

from the IRS or the Social Security Administration. If you

change in the trustee’s name or address, check the

are going to apply by mail, send in the Form SS-4 at least

appropriate box.

4 to 5 weeks before you need the number.

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Instructions For Form 5227 Page 3

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