Excepted Trust

A trust qualifies as an excepted trust if it has both of the following characteristics:

(1) The trust was not created by you, your spouse, or dependent children.

AND

(2) You, your spouse, or dependent children have no specific knowledge of the trust’s holdings or sources of income through a report, disclosure, or constructive receipt, whether intended or inadvertent. For purposes of determining if your trust is an “excepted trust,” you have knowledge of the trust’s holdings if you have any right to receive such information, even if you have not actually received the information. Filers may never blind themselves from trusts by simply avoiding information that is available to them.


Schedule A

For excepted trusts, report a vested beneficial interest and/or distributions in Schedule A as follows:

Block A: Provide the name of the trust and indicate the general nature of its holdings to the extent known.

Excepted Trust: Just to the right of Block B, is a column identified as “Excepted Trust.” Mark the “Excepted Trust” column.

Block C: Mark the “Amount” column that corresponds to the amount of your income during the reporting period.

 

This guide is not intended to provide investment advice, and you should not rely on statements in this guide when making investment decisions.

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