Get Split-interest Trust Information Return - Internal Revenue Service

Filling out the Split-Interest Trust Information Return, also known as Form 5227, can seem daunting, but understanding its components and structure will help simplify the process. This guide will provide clear, step-by-step instructions to assist users in completing the form online with confidence.

Follow the steps to effectively complete the form online:

1. Click the ‘Get Form’ button to access the form and open it in your preferred editor.
2. Begin with Section A, where you will enter the full name of the trust and its employer identification number. Make sure this information matches the trust's existing documentation.
3. In Section B, provide the name of the trustee, the type of entity, and the trust's address. Choose the correct type of split-interest trust from the given options.
4. For Section C, enter the fair market value of assets at the end of the tax year and check applicable boxes indicating if it is an initial return, final return, or an amended return.
5. In Section D, answer whether the split-interest trust had any unrelated business taxable income, as this information is crucial for tax purposes.
6. Proceed to Part I for reporting ordinary income, where you will detail various sources of income and calculate total ordinary income after deductions.
7. Continue to Part II, where you will document any accumulation schedules as required by section 664 trusts.
8. In Part III, list current distributions schedules and include recipient information, alongside the amounts received as ordinary income, capital gains, and any applicable corpus.
9. Move to Part IV to complete the balance sheet, detailing assets, liabilities, and trust principal or corpus.
10. Finish the document by filling in the required signatures, ensuring they are signed by the trustee or authorized officer.
11. Finally, review all entries for accuracy, save changes, and choose to download, print, or share the completed form as needed.

Start completing the Split-Interest Trust Information Return online today!