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

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

Other Forms You May Have To File

After receiving an automatic 3-month extension, you can

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

also use Form 8868 to apply for an additional (not

following forms.

automatic) 3-month extension. The request for an

•

Form 56, Notice Concerning Fiduciary Relationship.

additional 3-month extension must be filed by the

•

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

extended due date of the return.

Trusts.

•

Where To File

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

Accumulation of Charitable Amounts.

File all Forms 5227 at the following address:

•

Form 1041-ES, Estimated Income Tax for Estates and

Internal Revenue Service Center

Trusts.

Ogden, UT 84201-0027

•

Form 4720, Return of Certain Excise Taxes on

Private delivery services (PDSs). In addition to the

Charities and Other Persons Under Chapters 41 and 42

United States mail, exempt organizations can use certain

of the Internal Revenue Code.

•

private delivery services designated by the IRS to meet

Form 8275, Disclosure Statement. Use this form to

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

disclose items or positions (except those contrary to a

returns and payments. These private delivery services

regulation —see Form 8275-R, below) that are not

include only the following.

otherwise adequately disclosed on the tax return. The

•

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

disclosure is made to avoid parts of the accuracy-related

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

penalty for disregard of rules or substantial

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

understatement of tax. Form 8275 is also used for

•

Federal Express (FedEx): FedEx Priority Overnight,

disclosures relating to preparer penalties for

FedEx Standard Overnight, FedEx 2 Day, FedEx

understatements due to unrealistic positions or for willful

International Priority, and FedEx International First.

or reckless conduct.

•

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

Form 8275-R, Regulation Disclosure Statement. Use

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

this form to disclose any item on a tax return for which a

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

position has been taken that is contrary to Treasury

Express.

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

an Exempt Organization Return.

•

Trust Instrument

Form 8870, Information Return for Transfers

Associated With Certain Personal Benefit Contracts.

When you file the first return for a charitable remainder

annuity trust or unitrust, include:

You can order forms and publications by calling

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

1. A copy of the trust instrument, and

most forms and publications at your local IRS office.

2. A written declaration under penalties of perjury that

it is a true and complete copy.

Period To Be Covered by Return

For sample forms of trusts that meet the requirements

File Form 5227 for each calendar year. This revision of

of a charitable remainder unitrust, see Rev. Procs.

the form is for the 2005 calendar year.

2005-52 through 2005-59, 2005-34 I.R.B. 326, 339, 353,

367, 383, 392, 402, and 412.

Accounting Methods

For sample forms of a trust that meet the requirements

Trust income must be computed using the method of

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

accounting regularly used in keeping the trust’s books

2003-53 through 2003-60, 2003-2 C.B. 230, 236, 242,

and records. Generally, permissible methods include the

249, 257, 262, 268, and 274.

cash method, the accrual method, or any other method

authorized by the Internal Revenue Code. The method

Rounding Off to Whole Dollars

used must clearly reflect income.

You may round off cents to whole dollars on your return

Unless otherwise allowed by law, the trust may not

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

change the accounting method used to report income (for

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

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

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

getting consent on Form 3115, Application for Change in

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

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

When To File

amounts and round off only the total.

File Form 5227 for calendar year 2005 on or before April

17, 2006.

Extension of Time To File

Use Form 8868 to request an automatic 3-month

extension of time to file. The request for an automatic

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Instructions For Form 5227 Page 2

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