California Form 541-B - Charitable Remainder And Pooled Income Trusts - 2014 Page 5
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6Part VI-A Charitable Remainder Annuity Trust (CRAT) Information (Complete only if a IRC Section 664 CRAT)
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61 a Enter the initial fair market value (FMV) of the property placed in the trust . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
61a
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b Enter the total annual annuity amounts for all recipients . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61b
Part VI-B Charitable Remainder Unitrust (CRUT) Information (Complete only if a IRC Section 664 CRUT)
62 Is the CRUT a net income charitable remainder unitrust (NICRUT) as described in IRC Regulations Section 1 .664-3(a)(1)(i)(b)(1)? . . . . . . . . .
Yes
No
63 Is the CRUT a net income with make-up charitable remainder unitrust (NIMCRUT) as described in IRC Regulations Section 1 .664-3(a)(1)(i)(b)(2)?
Yes
No
64 Did the trust change its method of payment during the taxable year? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
If “Yes,” describe the triggering event . Include the date of the event and the old method of payment . ____________________________________________
___________________________________________________________________________________________________________________________
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65 a Enter the unitrust fixed percentage to be paid to the recipients . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
65a
b Unitrust amount . Subtract line 56, column (c) from line 50, column (c) and multiply the result by the percentage
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on line 65a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65b
If “Yes,” on line 62 or line 63, go to line 66a . Otherwise skip lines 66a through 67b and enter the line 65b
amount on line 68 .
66 a Trust’s accounting income for 2014 . Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
66a
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If “Yes,” on line 62, go to line 66b . If “Yes,” on line 63, skip line 66b and go to line 67a .
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b Enter the smaller of line 65b or line 66a here and on line 68 . Skip lines 67a and 67b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66b
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67 a Total accumulated distribution deficiencies from previous years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67a
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b Add lines 65b and 67a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67b
If lines 67a and 67b are completed, enter the smaller of line 66a or line 67b on line 68 .
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68 Required unitrust distribution for 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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69 Carryover of accumulated distribution deficiency (only for trusts that answered “Yes” on line 63 .)
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Subtract line 68 from line 67b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69
70 If this is the final tax return, enter the initial FMV of all assets placed in trust by the donor . . . . . . . . . . . . . . . . . . . . . . . . . . 70
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71 Did the trustee change the method of determining the FMV of the assets? If “Yes,” attach an explanation . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
72 Were any additional contributions received by the trust during 2014? If “Yes,” complete Side 6, Schedule A, Part III . . . . . . . . . . . . . . . . . . . .
Yes
No
Part VII
Questionnaire for Charitable Lead Trusts, Pooled Income Funds, and Charitable Remainder Trusts
Section A – All Trusts
73 Check this box if any of the split-interest trust’s income interests expired during 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
74 Check this box if all of the split interest trust’s income interests expired before 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
If either box is checked and this is not a final tax return, attach an explanation .
Section B – Charitable Lead Trusts
75 Enter the amount of annuity or unitrust payments required to be paid to charitable beneficiaries for 2014 . . . . . . . . . . . . . .
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Section C – Pooled Income Funds
76 Enter the amount of contributions received during 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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77 Enter the amount required to be distributed for 2014 to satisfy the remainder interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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78 Enter any amounts that were required to be distributed to the remainder beneficiary that remain undistributed . . . . . . . . . .
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79 Enter the amount of income required to be paid to the charitable remainder beneficiary for 2014 . . . . . . . . . . . . . . . . . . . .
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Section D – Charitable Remainder Trusts
80 Check this box if you are filing for a charitable remainder annuity trust or a charitable remainder unitrust whose charitable interests
involve only cemeteries or war veterans’ posts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
81 Check this box if you are making an election under IRC Regulations Section 1 .664-2(a)(1)(i)(a)(2) or 1 .664-3(a)(1)(i)(g)(2) to treat
income generated from certain property distributions (other than cash) by the trust as occurring on the last day of the taxable year . . . . . . . . . . . . . . . . . . .
82 Is this the initial tax return? If “Yes,” attach a copy of the trust instrument . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
83 Was the trust instrument amended during the year? If “Yes,” attach a copy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
84a If this is the final tax return, were final distributions made according to the trust instrument? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
b If “Yes,” did you complete Side 3, Part IV-A, line 31? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
c If “No,” explain why . ___________________________________________________________________________________________________________
___________________________________________________________________________________________________________________________
85 If this was the final year, was an early termination agreement signed by all parties to the trust? . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
N/A
If “Yes,” attach a copy of the signed agreement .
86 At any time during the calendar year 2014, did the trust have an interest in or a signature or other authority over a bank, securities,
or other financial account in a foreign country? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
If “Yes,” enter the name of the country: ____________________________________________________________________________________________
Form 541-B
2014 Side 5
C1
7025143
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