Form 5227 Split-Interest Trust Information Return

Form

5227

Split-Interest Trust Information Return

OMB No. 1545-0196

▶ See separate instructions.
Go to www.irs.gov/Form5227 for instructions and the latest information.
▶ Do not enter social security numbers on this form (except on Schedule A) as it may be made public.

2019

▶

Department of the Treasury
Internal Revenue Service

For the calendar year 2019 or tax year beginning

, 2019, and ending

, 20

Open to Public
Inspection

Full name of trust

A Employer identification number

Name of trustee

B Type of Entity

Number, street, and room or suite no. (If a P.O. box, see the instructions.)

City or town, state or province, country, and ZIP or foreign postal code
C

Fair market value (FMV) of assets at end of tax year

E

Check applicable
boxes (see the
instructions)

G

Initial return
Change in trustee’s

▶

D Gross Income

(1)

Charitable lead trust

(2)

Charitable remainder annuity trust
described in section 664(d)(1)

(3)

Charitable remainder unitrust
described in section 664(d)(2)

(4)

Pooled income fund described in
section 642(c)(5)
Other—Attach explanation

(5)

Final return

Amended return

Name

Address

F Date the trust was created

Yes

If the trust is a section 664 trust, did it have unrelated business taxable income? If “Yes,” file Form 4720

Part I
1
2a
b
3
4
5
6
7
8

No

Income and Deductions (All trusts complete Sections A through D)
Section A—Ordinary Income

Interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ordinary dividends (including qualified dividends)
. . . . . . . . . . . . . . . .
Qualified dividends (see the instructions) . . . . . . . . . . .
2b
Business income or (loss). Attach Schedule C (Form 1040 or 1040-SR) . . . . . . . . .
Rents, royalties, partnerships, other estates and trusts, etc. Attach Schedule E (Form 1040 or 1040-SR)
Farm income or (loss). Attach Schedule F (Form 1040 or 1040-SR) . . . . . . . . . . .
Ordinary gain or (loss). Attach Form 4797 . . . . . . . . . . . . . . . . . . .
Other income. List type and amount ▶
Total ordinary income. Combine lines 1, 2a, and 3 through 7 . . . . . . . . . . . ▶

1
2a
3
4
5
6
7
8

Section B—Capital Gains (Losses)
9
10
11
12
13

Total short-term capital gain or (loss). Attach Schedule D, Part I (Form 1041)
. .
Total long-term capital gain or (loss). Attach Schedule D, Part II (Form 1041) . . .
Unrecaptured section 1250 gain . . . . . . . . . . . . . .
11
28% gain . . . . . . . . . . . . . . . . . . . . . .
12
Total capital gains (losses). Combine lines 9 and 10 . . . . . . . . . .

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9
10

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13

Section C—Nontaxable Income
14
15

Tax-exempt interest . . . . . . . . . .
Other nontaxable income. List type and amount ▶

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14

16

Total nontaxable income. Add lines 14 and 15 .

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17
18
19
20
21
22
23

Interest . . . . . . . . . . . . . . . . . . . .
Taxes (see the instructions) . . . . . . . . . . . . . .
Trustee fees . . . . . . . . . . . . . . . . . . .
Attorney, accountant, and return preparer fees . . . . . . .
Other allowable deductions. Attach statement (see the instructions)
Total. Add lines 17 through 21 . . . . . . . . . . . . .
Charitable deduction . . . . . . . . . . . . . . . .

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23

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17
18
19
20
21
22

24a
b
25a
b
26a
b

Enter the amount from line 22 allocable to ordinary income .
Subtract line 24a from line 8
. . . . . . . . . . .
Enter the amount from line 22 allocable to capital gains (losses)
Subtract line 25a from line 13 . . . . . . . . . . .
Enter the amount from line 22 allocable to nontaxable income
Subtract line 26a from line 16 . . . . . . . . . . .

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24a
24b
25a
25b
26a
26b

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▶

15
16

Section D—Deductions

Section E—Deductions Allocable to Income Categories (Section 664 trust only)

For Paperwork Reduction Act Notice, see the instructions.

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Cat. No. 13227T

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Form 5227 (2019)

Form 5227 (2019)

Part II

Page
(a) Ordinary income

Accumulations

Excluded
Income

Net Investment Income (NII) Classification

27

Undistributed income from prior tax years .

28

Current tax year net income (before distributions):
• In column (a), enter the amount from line 24b
• In column (b), enter the amount from line 25b
• In column (c), enter the amount from line 26b
Total distributable income. Add lines 27 and 28

29

Part III-A

2

Schedule of Distributable Income (Section 664 trust only) (See the instructions)
(b) Capital gains (losses)

Accumulated
NII post 2012

Excluded
Income

(c) Nontaxable income

Accumulated
NII post 2012

Excluded
Income

Accumulated
NII post 2012

.

Distributions of Principal for Charitable Purposes

30

Principal distributed in prior tax years for charitable purposes

31

Principal distributed during the current tax year for charitable purposes. Fill in the information for
columns (A), (B), and (C) and enter the amount distributed on the space to the right. (see the
instructions)
(A)
Payee’s name and address

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(B)
Date of distribution

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30

(C)
Charitable purpose and description of assets distributed

a
31a
b
31b
c

32

Total. Add lines 30 through 31c

Part III-B

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31c
32

Accumulated Income Set Aside and Income Distributions for Charitable Purposes
Grantor type trusts complete only lines 35 and 36 (see the instructions)

33a

Accumulated income set aside in prior tax years for which a deduction was claimed under
section 642(c) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
b Enter the amount shown on line 23 . . . . . . . . . . . . . . . . . . . . .
34
Add lines 33a and 33b . . . . . . . . . . . . . . . . . . . . . . . . .
35
Distributions made during the tax year (see the instructions):
• For income set aside in prior tax years for which a deduction was claimed under section 642(c),
• For charitable purposes for which a charitable deduction was claimed under section 642(c) in
the current tax year, or
• For charitable purposes by a grantor type trust for which a charitable deduction was claimed
under section 170 upon contribution to the trust
Fill in the information for columns (A), (B), and (C) and enter the amount distributed on the line
to the right.
(A)
Payee’s name and address

(B)
Date of distribution

33a
33b
34

(C)
Charitable purpose and description of assets distributed

a
35a
b
35b
c

36
37

Add lines 35a through 35c . . . . .
Carryover. Subtract line 36 from line 34 .

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35c
36
37
Form 5227 (2019)

Form 5227 (2019)

Part IV

Page

(a) Beginning-ofYear Book Value

Assets
38
39
40a
b
41
42a
b
43
44
45a
b
c
46a
b
47
48a
b
49
50
51
52
53
54
55
56
57
58a
b
c
59
60

3

Balance Sheet (see the instructions)

Cash—non-interest-bearing . . . . . . . . . . . . . . .
Savings and temporary cash investments . . . . . . . . . .
Accounts receivable . . . . . . . . . . 40a
Less: allowance for doubtful accounts . . . . 40b
Receivables due from officers, directors, trustees, and other
disqualified persons (attach statement) . . . . . . . . . . .
Other notes and loans receivable . . . . . . 42a
Less: allowance for doubtful accounts . . . . 42b
Inventories for sale or use . . . . . . . . . . . . . . .
Prepaid expenses and deferred charges
. . . . . . . . . .
Investments—U.S. and state government obligations (attach
statement) . . . . . . . . . . . . . . . . . . . .
Investments—corporate stock (attach statement) . . . . . . . .
Investments—corporate bonds (attach statement) . . . . . . .
Investments—land, buildings, and equipment:
basis (attach statement) . . . . . . . . . 46a
Less: accumulated depreciation . . . . . . 46b
Investments—other (attach statement) . . . . . . . . . . .
Land, buildings, and equipment: basis . . . . 48a
Less: accumulated depreciation . . . . . . 48b
Other assets. Describe ▶
Total assets. Add lines 38 through 49 (must equal line 60) . . . ▶
Liabilities
Accounts payable and accrued expenses . . . . . . . . . .
Deferred revenue . . . . . . . . . . . . . . . . . .
Loans from officers, directors, trustees, and other disqualified persons
Mortgages and other notes payable (attach statement) . . . . . .
Other liabilities. Describe ▶
Total liabilities. Add lines 51 through 55 . . . . . . . . . ▶
Net Assets
Trust principal or corpus . . . . . . . . . . . . . . . .
Undistributed income . . . . . . . . . . . . . . . . .
Undistributed capital gains . . . . . . . . . . . . . . .
Undistributed nontaxable income . . . . . . . . . . . . .
Total net assets. Add lines 57 through 58c . . . . . . . . .
Total liabilities and net assets. Add lines 56 and 59 . . . . . .

(b) End-of-Year
Book Value

(c) FMV (see the
instructions)

38
39

41

43
44
45a
45b
45c

47

49
50
51
52
53
54
55
56
57
58a
58b
58c
59
60
Form 5227 (2019)

Form 5227 (2019)

Part V-A

Page 4
Charitable Remainder Annuity Trust (CRAT) Information (to be completed only by a Section 664 CRAT)

61a Enter the initial fair market value (FMV) of the property placed in the trust .
b Enter the total annual annuity amounts for all recipients
. . . . . .

Part V-B
62
63
64

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Charitable Remainder Unitrust (CRUT) Information (to be completed only by a Section 664 CRUT)
(See the instructions)

Is the CRUT a net income charitable remainder unitrust (NICRUT) as described in Regulations section
1.664-3(a)(1)(i)(b)(1)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Is the CRUT a net income with make-up charitable remainder unitrust (NIMCRUT) as described in Regulations
section 1.664-3(a)(1)(i)(b)(2)? . . . . . . . . . . . . . . . . . . . . . . . . . . .
Did the trust change its method of payment during the tax year?
. . . . . . . . . . . . . .
If “Yes,” describe the triggering event including the date of the event and the old method of payment ▶

65a Enter the unitrust fixed percentage to be paid to the recipients . . . . . . . . . . . .
b Unitrust amount. Subtract line 56, column (c), from line 50, column (c), and multiply the result by
the percentage on line 65a. Do not enter less than -0- . . . . . . . . . . . . . . .
If the answer is “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.
66a Trust’s accounting income for 2019. Attach statement . . . . . . . . . . . . . . .
If the answer is “Yes” on line 62, go to line 66b. If the answer is “Yes” on line 63, skip line 66b
and go to line 67a.
b Enter the smaller of line 65b or line 66a here and on line 68. Skip lines 67a and 67b . . . . .
67a Total accumulated distribution deficiencies from previous years (see the instructions) . . . . .
b Add lines 65b and 67a . . . . . . . . . . . . . . . . . . . . . . . . .
If lines 67a and 67b are completed, enter the smaller of line 66a or line 67b on line 68.
68
Required unitrust distribution for 2019 . . . . . . . . . . . . . . . . . . . .
69
Carryover of accumulated distribution deficiency (only for trusts that answered “Yes” on line 63).
Subtract line 68 from line 67b . . . . . . . . . . . . . . . . . . . . . . .
70
If this is the final return, enter the initial FMV of all assets placed in trust by the donor . . . . .
71
Did the trustee change the method of determining the FMV of the assets? . . . . . . . . .
If “Yes,” attach an explanation.
72
Were any additional contributions received by the trust during 2019? . . . . . . . . . . .
If “Yes,” be sure to complete all columns of line 7 in Schedule A, Part III.

Part VI-A
73

74

61a
61b

Yes

No

Yes
Yes

No
No

65a

%

65b

66a

66b
67a
67b
68
69
70
. .

Yes

No

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Yes

No

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Statements Regarding Activities (see the instructions)

Are the requirements of section 508(e) satisfied either:
• By the language in the governing instrument; or
• By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? . . . . . . . . . . . . . .
Are you using this return only to report the income and assets of a segregated amount under section
4947(a)(2)(B)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes No

73
74
Form 5227 (2019)

Form 5227 (2019)

Part VI-B

Page

5

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the “Yes” column (to the right), unless an exception applies.
75
Self-dealing (section 4941):
a During 2019, did the trust (either directly or indirectly):
Yes
(1) Engage in the sale or exchange, or leasing of property with a disqualified person?
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
Yes
a disqualified person? . . . . . . . . . . . . . . . . . . . . .
Yes
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? .
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? .
Yes
(5) Transfer any income or assets to a disqualified person (or make any of either available
Yes
for the benefit or use of a disqualified person)? . . . . . . . . . . . . .
(6) Agree to pay money or property to a government official? (Exception. Check “No” if
the trust agreed to make a grant to or to employ the official for a period after
termination of government service, if terminating within 90 days.) . . . . . . .
Yes

Yes No

No
No
No
No
No

No

b If any answer is “Yes” to lines 75a(1) through (6), did any of the acts fail to qualify under the exceptions
described in Regulations sections 53.4941(d)-3 and 4, or in a current Notice regarding disaster assistance
(see the instructions)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Organizations relying on a current Notice regarding disaster assistance, check here . . . . ▶
c Did the trust engage in a prior year in any of the acts described in line 75a, other than excepted acts, that
were not corrected before January 1, 2019? . . . . . . . . . . . . . . . . . . . . .
76
Does section 4947(b)(3)(A) or (B) apply? (see the instructions) . . . . . . . . . .
Yes
No
If “Yes,” check the “N/A” box in lines 77 and 78.
N/A
77
Taxes on excess business holdings (section 4943):
a Did the trust hold more than a 2% direct or indirect interest in any business enterprise at
Yes
No
any time during 2019? . . . . . . . . . . . . . . . . . . . . . .
b If “Yes,” did the trust have excess business holdings in 2019 as a result of (1) any purchase by the trust or
disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the
Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or
(3) the lapse of the 10-, 15-, or 20-year first phase holding period? . . . . . . . . . . . . . .
Use Schedule C, Form 4720, to determine if the trust had excess business holdings in 2019.
78
Taxes on investments that jeopardize charitable purposes (section 4944):
N/A
a Did the trust invest during 2019 any amount in a manner that would jeopardize its charitable purpose? . .
b Did the trust make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before January 1, 2019? . . . . . . .
79
Taxes on taxable expenditures (section 4945) and political expenditures (section 4955):
a During 2019, did the trust pay or incur any amount to:
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
Yes
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
Yes
No
on, directly or indirectly, any voter registration drive? . . . . . . . . . . .
(3) Provide a grant to an individual for travel, study, or other similar purposes? . . . .
Yes
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
Yes
No
in section 509(a)(1), (2), or (3), or section 4940(d)(2)? . . . . . . . . . . . .
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
Yes
No
educational, or for the prevention of cruelty to children or animals?
. . . . . .
b If any answer is “Yes” to lines 79a(1) through (5), did any of the transactions fail to qualify under the
exceptions described in Regulations section 53.4945, or in a current Notice regarding disaster assistance
(see the instructions)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Organizations relying on a current Notice regarding disaster assistance, check here . . . . ▶
c If the answer is “Yes” to line 79a(4), does the trust claim exemption from the tax because
it maintained expenditure responsibility for the grant? . . . . . . . . . . . .
Yes
No
If “Yes,” attach the statement required by Regulations section 53.4945-5(d).
80
Personal benefit contracts (section 170(f)(10)):
a Did the trust, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract?
. . . . . . . . . . . . . . . . . . . .
Yes
No
b Did the trust, during the year, pay premiums, directly or indirectly, on a personal benefit contract? . . .
If “Yes” to line 80b, file Form 8870 (see the instructions).

75b

75c

77b

78a
78b

79b

80b
Form 5227 (2019)

Form 5227 (2019)

Part VII

Page

6

Questionnaire for Charitable Lead Trusts, Pooled Income Funds, and Charitable Remainder Trusts
(see the instructions)
Section A—All Trusts

81
82

Check this box if any of the split-interest trust’s income interests expired during 2019
Check this box if all of the split-interest trust’s income interests expired before 2019 .
If line 82 is checked and this is not a final return, attach an explanation.

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Section B—Charitable Lead Trusts
83

84
85

Does the governing instrument require income in excess of the required annuity or unitrust payments to be
paid for charitable purposes? . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

No

84
85

Enter the amount of any excess income required to be paid for charitable purposes for 2019 . . .
Enter the amount of annuity or unitrust payments required to be paid to charitable beneficiaries for 2019 .

Section C—Pooled Income Funds
86

86

Enter the amount of contributions received during 2019

87
88

Enter the amount required to be distributed for 2019 to satisfy the remainder interest . . . . .
Enter any amounts that were required to be distributed to the remainder beneficiary that remain
undistributed
. . . . . . . . . . . . . . . . . . . . . . . . . . . .

87

Enter the amount of income required to be paid to the charitable remainder beneficiary for 2019 .

89

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88

Section D—Charitable Remainder Trusts
90

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 . . . . . . . . . . . . . . . . ▶

Check this box if you are making an election under 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 tax year. (see the instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . ▶
92
Are you making an election under Regulations section 1.1411-10(g) with respect to a controlled foreign
corporation or a qualified electing fund? (see the instructions) . . . . . . . . . . . . . . .
Yes
93
Is this the initial return? If “Yes,” attach a copy of the trust instrument . . . . . . . . . . . . .
Yes
Yes
94
Was the trust instrument amended during the year? If “Yes,” attach a copy . . . . . . . . . . .
95a If this is the final return, were final distributions made according to the trust instrument? . . . . . . .
Yes
b If “Yes,” did you complete line 31? . . . . . . . . . . . . . . . . . . . . . . . .
Yes
c If either line 95a or 95b is “No,” explain why ▶
91

96

At any time during calendar year 2019, 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? . . . . . . . . . . . . . . .
See the instructions for exceptions and filing requirements for FinCEN Form 114.
If “Yes,” enter the name of the foreign country ▶

▲

Paid
Preparer
Use Only

No

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my
knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than trustee) is based on all information of which preparer
has any knowledge.
▲

Sign
Here

Yes

No
No
No
No
No

Signature of trustee or officer representing trustee

Print/Type preparer’s name

Firm’s name

▶

Firm’s address ▶

Preparer’s signature

Date

Date

Check
if
self-employed

PTIN

Firm’s EIN ▶
Phone no.

Form 5227 (2019)

Form 5227 (2019)

Page

7

Employer identification number

Full name of trust

NOT Open To Public Inspection

Schedule A—Distributions, Assets, and Donor Information
Part I-A

Accumulation Schedule (Section 664 trust only) (see the instructions)
(a) Ordinary income

Accumulations

Excluded
Income

Net Investment Income (NII) Classification

(b) Capital gain (loss)

Accumulated
NII

Excluded
Income

(c) Nontaxable income

Accumulated
NII

Excluded
Income

Accumulated
NII

1

Total distributable income. Enter the amount from
line 29 . . . . . . . . . . . . . .
2a Total distributions for 2019:
b 2019 distributions from income
. . . . .
3
Undistributed income at end of tax year. Subtract
line 2b from line 1 . . . . . . . . . .

Part I-B

Simplified Net Investment Income Calculation
(a) Accumulated NII

(b) Current Year NII

(c) Distributions

(d) Ending NII

4

Part II-A

Current Distributions Schedule (Section 664 trust only) (see the instructions)
(a)
Name of recipient

(c)
Percentage of total unitrust amount
payable (if applicable)

(b)
Identifying number

4a
b
c

%
%
%
(d)
Ordinary Income

Capital gains
(e) Short-term

(f) Long-term

(g)
Nontaxable income

(i)
Total (add cols.
(d) through (h))

(h)
Corpus

(j)
Net investment
income

4a
b
c
Total
If Part II-A, Total, column (i) does not agree with line 61b of Form 5227 for a CRAT or line 68 of Form 5227 for a CRUT, check
here ▶
and attach an explanation.

Part II-B
5

Part III
6

Current Distributions (charitable lead trusts or pooled income funds only) (see the instructions)

Enter the amount required to be paid to private beneficiaries for 2019 .

.

.

.

.

.

.

.

.

.

▶

.

.

Assets and Donor Information (Section 664 trust or charitable lead trust only)

Is this the initial return or were additional assets contributed to the trust in 2019? .
If “Yes,” complete the schedule below.
If “No,” complete only column (a) of the schedule below.
(a)
Name and address of donor

(b)
Description of each asset donated

.

.

.

.

(c)
FMV of each
asset on date of donation

.

Yes

.

No

(d)
Date of donation

7a

7b

7c
7d Total . . . . . . . . . . . . . . . . . . . . ▶
8
For charitable remainder trusts: If this was the final year, was an early termination agreement signed
by all parties to the trust? . . . . . . . . . . . . . . . . . . . . . . . .
If “Yes,” attach a copy of the signed agreement.

Yes

No

N/A

Form 5227 (2019)