Amended 1969, 1980, 1986, 2006
- 2006 Pub. L. 109-280 Pub. L. 109–280, which directed the general amendment of section 6034 without specifying the act to be amended, was executed to this section, which is section 6034 of the Internal Revenue Code of 1986, to reflect the probable intent of Congress. Prior to amendment, this section consisted of subsecs. (a) to (c) stating a general rule requiring certain trusts to furnish information as the Secretary may by forms and regulations prescribe, allowing for exceptions to the rule, and providing a cross reference relating to penalties for failure to file a return.
- 1986 Pub. L. 99-514 Pub. L. 99–514 substituted “section 6652(c)” for “section 6652(d)”.
- 1980 Pub. L. 96-603 Pub. L. 96–603, § 1(d)(1)(D), substituted “section 4947(a)(2)” for “section 4947(a)” in section catchline.
- 1969 Pub. L. 91-172 Pub. L. 91–172, § 101(j)(34), added subsec. (c).
Forms: Form 1041-A
(a) Split-interest trusts Every trust described in section 4947(a)(2) shall furnish such information with respect to the taxable year as the Secretary may by forms or regulations require.
Amended 1969, 1976, 1980
- 1980 Pub. L. 96-603 Pub. L. 96–603, § 1(d)(1)(A), substituted “section 4947(a)(2)” for “section 4947(a)”.
- 1976 Pub. L. 94-455 Pub. L. 94–455 struck out “or his delegate” after “Secretary”.
- 1969 Pub. L. 91-172 Pub. L. 91–172, § 101(j)(32), (33), inserted, in section catchline and in subsec. (a), reference to trusts described in section 4947(a), and, in par. (1), struck out provisions requiring the separate showing of the amount of deduction paid out, and the amount permanently set aside for charitable, etc., purposes.
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(b) Trusts claiming certain charitable deductions
Amended 1980
- 1980 Pub. L. 96-603 Pub. L. 96–603, § 1(d)(1)(B), (C), substituted in heading “Exceptions” for “Exception” and in text inserted provision that this section not apply in the case of a trust described in section 4947(a)(1).
(1) In general Every trust not required to file a return under subsection (a) but claiming a deduction under section 642(c) for the taxable year shall furnish such information with respect to such taxable year as the Secretary may by forms or regulations prescribe, including—
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(A) the amount of the deduction taken under section 642(c) within such year,
(B) the amount paid out within such year which represents amounts for which deductions under section 642(c) have been taken in prior years,
(C) the amount for which such deductions have been taken in prior years but which has not been paid out at the beginning of such year,
(D) the amount paid out of principal in the current and prior years for the purposes described in section 642(c),
(E) the total income of the trust within such year and the expenses attributable thereto, and
(F) a balance sheet showing the assets, liabilities, and net worth of the trust as of the beginning of such year.
(2) Exceptions Paragraph (1) shall not apply to a trust for any taxable year if—
(A) all the net income for such year, determined under the applicable principles of the law of trusts, is required to be distributed currently to the beneficiaries, or
(B) the trust is described in section 4947(a)(1). needs § 4947(a)(1)