California Form 541-A - Trust Accumulation Of Charitable Amounts - 2011 Page 3
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3Instructions for Form 541-A
Trust Accumulation of Charitable Amounts
References in these instructions are to the Internal Revenue Code (IRC) as of January 1, 2009, and to the California Revenue and Taxation Code (R&TC).
General Information
A split-interest trust is a trust which:
If the “Yes” box is checked, the fiduciary is
authorizing the FTB to call the paid preparer
• Is not exempt from taxation under
In general, for taxable years beginning on or
to answer any questions that may arise during
R&TC Section 23701d.
after January 1, 2010, California law conforms
the processing of its tax return. The fiduciary is
• Has some of the unexpired interests devoted
to the Internal Revenue Code (IRC) as of
also authorizing the paid preparer to:
to one or more charitable purposes as
January 1, 2009. However, there are continuing
described in IRC Section 170(c).
• Give the FTB any information that is missing
differences between California and federal
• Has amounts in trust for which a charitable
from the return.
law. When California conforms to federal tax
contributions deduction was allowed under
• Call the FTB for information about the
law changes, we do not always adopt all of
the R&TC. Pooled income funds, IRC
processing of the return or the status of any
the changes made at the federal level. For
Section 642(c)(5); charitable remainder
related refund or payments.
more information, go to ftb.ca.gov and search
annuity trusts, IRC Section 664(d)(1); and
• Respond to certain FTB notices about math
for conformity. Additional information can
remainder unitrusts, IRC Section 664(d)(2)
errors, offsets, and return preparation.
be found in FTB Pub. 1001, Supplemental
are split-interest trusts.
Guidelines to California Adjustments, the
The fiduciary is not authorizing the paid
Simple trusts which received a letter from the
preparer to receive any refund check, bind
instructions for California Schedule CA (540 or
Franchise Tax Board (FTB) granting exemption
the trust to anything (including any additional
540NR), and the Business Entity tax booklets.
from tax under R&TC Section 23701d
tax liability), or otherwise represent the trust
The instructions provided with California tax
are considered to be corporations for tax
before the FTB.
forms are a summary of California tax law
purposes. The trust may be required to file
The authorization will automatically end no
and are only intended to aid taxpayers in
Form 199, California Exempt Organization
preparing their state income tax returns. We
later than the due date (without regard to
Annual Information Return.
include information that is most useful to the
extensions) for filing the trust’s 2012 tax
Nonexempt charitable trusts, described in IRC
return. If the trust wants to expand the paid
greatest number of taxpayers in the limited
Section 4947(a)(1), must file Form 199.
preparer’s authorization, get form FTB 3520,
space available. It is not possible to include
all requirements of the California Revenue
Power of Attorney Declaration for the Franchise
C When to File
and Taxation Code (R&TC) in the tax booklets.
Tax Board. If the trust wants to revoke the
Taxpayers should not consider the tax booklets
authorization before it ends, notify the FTB in
File Form 541-A on or before April 17, 2012.
writing or call 800.852.5711.
as authoritative law.
Due to the Emancipation Day holiday on
April 16, 2012, tax returns filed and payments
A Purpose
mailed or submitted on April 17, 2012, will
Specific Instructions
Use Form 541-A, Trust Accumulation of
be considered timely. If you need additional
Charitable Amounts, to report a charitable or
time to file, California grants an automatic
Private Mail Box (PMB)
other deduction under IRC Section 642(c).
six-month extension. If the tax return is filed by
Include the PMB in the address field. Write the
October 15, 2012, the extension will apply.
“PMB” first, then the box number.
Split-interest trusts described in IRC
Example: 111 Main Street PMB 123.
Section 4947(a)(2) no longer have to
D Where to File
file Form 541-A. Form 541-B, Charitable
Part II and Part III
Mail Form 541-A to:
Remainder and Pooled Income Trusts, meets
Attach a statement describing in detail the
R&TC Section 18635 filing requirements for
FRANCHISE TAX BOARD
purpose for which charitable disbursements
split-interest trusts. For more information,
PO BOX 942840
were made from income set aside in prior
go to ftb.ca.gov, and search for 54-B
SACRAMENTO CA 94240-0002
taxable years and amounts which were paid
instructions.
E Internet Access
out of principal for charitable purposes.
B Who Must File
You can download, view, and print California
Examples of appropriate descriptions are:
tax forms and publications at ftb.ca.gov.
A trustee must file a calendar year Form 541-A
• Payments for nursing service.
for a trust that claims a charitable or other
• Laboratory construction.
F Signatures
deduction under IRC Section 642(c). Do not
• Fellowships.
file Form 541-A if the following exceptions
The fiduciary or officer representing the
• Assistance to indigent families (not simply
apply:
fiduciary must sign Form 541-A. Any person
charitable, educational, religious, or
preparing the fiduciary’s tax return for
• The trustee is required by the terms of the
scientific).
compensation, who is not a regular full-time
governing instrument and applicable local
Part IV
employee of the fiduciary, must also sign
law to currently distribute all of the income.
Form 541-A.
• The trust is a charitable trust described in
If the balance sheet does not agree with the
IRC Section 4947(a)(1).
books of account, all differences must be
Third Party Designee
• The trust is a split-interest trust described in
reconciled in an attached statement.
If the fiduciary wants to allow the FTB to
IRC Section 4947(a)(2).
discuss its 2011 tax return with the paid
A charitable trust is a trust which:
preparer who signed it, check the “Yes” box
in the signature area of the tax return. This
• Is not exempt from taxation under R&TC
authorization applies only to the individual
Section 23701d.
whose signature appears in the “Paid
• Has all the unexpired interests devoted
Preparer’s Use Only” section of the return. It
to charitable purposes described in IRC
does not apply to the firm, if any, shown in that
Section 170(c).
section.
• Had a charitable contribution deduction
allowed for all the unexpired interests under
the R&TC.
Form 541-A Instructions 2011
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