Instructions For Schedule K-1vt-F - Beneficiary Information For Fiduciaries printable pdf download

Instructions For Schedule K-1vt-F - Beneficiary Information For Fiduciaries

SCHEDULE K-1VT-F

Beneficiary Information for Fiduciaries

Please print in BLUE or BLACK ink only.

General Information

Schedule K-1VT-F reports the Vermont-source income earned by a trust or an estate that is passed through

to the beneficiaries. In general, trusts and estates should include a Schedule K-1VT-F for each beneficiary

with their Fiduciary Return of Income (Form FIT-161).

The fiduciary of a grantor trust is required to file with the Department an information return, Form FIT-161,

along with a Schedule K-1VT-F indicating the items of income, deduction, and credits against tax attributable

to the trust treated as owned by the grantor/owner and send a copy of the Schedule K-1VT-F to the grantor/

owner, who is required to report the income, deductions, and credits on their individual Vermont income tax

return.

Every fiduciary must provide each beneficiary with a copy of their Schedule K-1VT-F on or before the due

date of Form FIT-161.

For detailed information on filing requirements and definitions of income and residency, refer to the

following:

• Title 32, Vermont Statutes Annotated, § 5811, § 5823, § 5861

COMPLETE A SEPARATE SCHEDULE K-1VT-F FOR EACH BENEFICIARY.

Above the Header Information – REQUIRED ENTRIES

Enter the begin and end dates of the fiscal year of the trust or estate filing the return.

Enter the Trust or Estate Name and Federal ID Number of the trust or estate filing the return.

Header Information – REQUIRED ENTRIES

All information in the Header Section is required. Failure to correctly complete this information will result

in processing delays and/or late filing penalties for your return.

Name, Address, ID Number

If the beneficiary is an entity other than an individual, enter the Entity Name of the beneficiary, and its

Federal I.D. Number. If the beneficiary is an individual, enter the Individual Last Name, First Name, and

Middle Initial, and his/her Social Security Number.

Enter the complete address of the beneficiary.

Enter the Foreign Country for the beneficiary if other than the United States.

Schedule K-1VT-F Instructions

Page 1 of 3

Rev. 10/17

Instructions For Schedule K-1vt-F - Beneficiary Information For Fiduciaries