Instructions For Form 5227 (Page 2 of 12) in pdf

Phone Help

When To File

If you have questions and/or need help completing this

File Form 5227 for calendar year 2004 on or before April

form, please call 1-877-829-5500. This toll-free telephone

15, 2005.

service is available Monday through Friday.

Extension of Time To File

Additional Information

Use Form 8868 to request an automatic 3-month

extension of time to file. The request for an automatic

For additional information on private foundations and

extension must be filed by the due date of the return.

foundation managers, see Pub. 578, Tax Information for

After receiving an automatic 3-month extension, you can

Private Foundations and Foundation Managers.

also use Form 8868 to apply for an additional (not

automatic) 3-month extension. The request for an

Other Forms You May Have To File

additional 3-month extension must be filed by the

You may also be required to file one or more of the

extended due date of the return.

following forms.

•

Form 56, Notice Concerning Fiduciary Relationship.

Where To File

•

Form 1041, U.S. Income Tax Return for Estates and

File all Forms 5227 at the following address:

Trusts.

•

Internal Revenue Service Center

Form 1041-A, U.S. Information Return — Trust

Ogden, UT 84201-0027

Accumulation of Charitable Amounts.

•

Private delivery services (PDSs). In addition to the

Form 1041-ES, Estimated Income Tax for Estates and

United States mail, exempt organizations can use certain

Trusts.

•

private delivery services designated by the IRS to meet

Form 4720, Return of Certain Excise Taxes on

the “timely mailing as timely filing/paying” rule for tax

Charities and Other Persons Under Chapters 41 and 42

returns and payments. These private delivery services

of the Internal Revenue Code.

•

include only the following.

Form 8275, Disclosure Statement —to disclose items

•

DHL Express (DHL): DHL Same Day Service, DHL

or positions (except those contrary to a regulation —see

Next Day 10:30 am, DHL Next Day 12:00 pm, DHL Next

Form 8275-R below) that are not otherwise adequately

Day 3:00 pm, and DHL 2nd Day Service.

disclosed on the tax return. The disclosure is made to

•

Federal Express (FedEx): FedEx Priority Overnight,

avoid parts of the accuracy-related penalty for disregard

FedEx Standard Overnight, FedEx 2 Day, FedEx

of rules or substantial understatement of tax. Form 8275

International Priority, and FedEx International First.

is also used for disclosures relating to preparer penalties

•

United Parcel Service (UPS): UPS Next Day Air, UPS

for understatements due to unrealistic positions or for

Next Day Air Saver, UPS 2nd Day Air, UPS 2nd Day Air

willful or reckless conduct.

•

A.M., UPS Worldwide Express Plus, and UPS Worldwide

Form 8275-R, Regulation Disclosure Statement —to

Express.

disclose any item on a tax return for which a position has

been taken that is contrary to Treasury regulations.

The private delivery service can tell you how to get

•

Form 8822, Change of Address.

written proof of the mailing date.

•

Form 8868, Application for Extension of Time To File

Trust Instrument

an Exempt Organization Return.

•

Form 8870, Information Return for Transfers

When you file the first return for a charitable remainder

Associated With Certain Personal Benefit Contracts.

annuity trust or unitrust, include:

You can order forms and publications by calling

1. A copy of the trust instrument, and

1-800-TAX-FORM (1-800-829-3676). You can also get

2. A written declaration under penalties of perjury that

most forms and publications at your local IRS office.

it is a true and complete copy.

Period To Be Covered by Return

For sample forms of trusts that meet the requirements

of a charitable remainder unitrust, see Rev. Proc. 89-20,

File Form 5227 for each calendar year. This revision of

1989-1 C.B. 841, Rev. Proc. 90-30, 1990-1 C.B. 534, and

the form is for the 2004 calendar year.

Rev. Proc. 90-31, 1990-1 C.B. 539.

Accounting Methods

For sample forms of a trust that meet the requirements

of a charitable remainder annuity trust, see Rev. Procs.

Trust income must be computed using the method of

2003-53 –2003-60, 2003-2 C.B. 230, 236, 242, 249, 257,

accounting regularly used in keeping the trust’s books

262, 268, 274.

and records. Generally, permissible methods include the

cash method, the accrual method, or any other method

Rounding Off to Whole Dollars

authorized by the Internal Revenue Code. The method

used must clearly reflect income.

You may round off cents to whole dollars on your return

and schedules. If you do round dollars, you must round

Unless otherwise allowed by law, the trust may not

all amounts. To round, drop amounts under 50 cents and

change the accounting method used to report income (for

increase amounts from 50 to 99 cents to the next dollar.

income as a whole or for any material item) without first

For example, $1.39 becomes $1 and $2.50 becomes $3.

getting consent on Form 3115, Application for Change in

Accounting Method. See Pub. 538, Accounting Periods

If you have to add two or more amounts to figure the

and Methods, for more details.

amount to enter on a line, include cents when adding the

amounts and round off only the total.

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Instructions For Form 5227 Page 2

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