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.


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.  Filers may not blind themselves from trusts by simply avoiding information that is available to them.

The application of the “specific knowledge” standard can be context-dependent.  Filers are strongly encouraged to consult with an ethics official before designating a trust as an excepted trust.