The California Form 541-A is used by trustees to report charitable amounts accumulated by a trust during the taxable year. This form is specifically designed for trusts that claim deductions for charitable contributions under federal tax law. Completing this form accurately is essential for compliance with California tax regulations.
To ensure proper filing, click the button below to fill out the form.
The California Form 541-A is an essential document for trustees managing charitable trusts or split-interest trusts. This form is specifically designed to report the accumulation of charitable amounts and is required for trusts that claim deductions under Internal Revenue Code Section 642(c). Trustees must file this form by April 16 of the following year, ensuring compliance with state tax regulations. The form includes sections for reporting income and deductions, detailing distributions of income set aside for charitable purposes, and providing a balance sheet that reflects the trust's financial status. It also asks critical questions about the trust's creation date, the residency of trustees, and whether the trust has filed a federal return. The form requires careful attention to detail, as discrepancies between state and federal filings must be explained. Furthermore, it outlines specific instructions for documenting charitable distributions, emphasizing the need for clarity regarding the purpose of these payments. Understanding the intricacies of Form 541-A is crucial for trustees to maintain compliance and effectively manage their trust's charitable objectives.
TAXABLE YEAR
CALIFORNIA FORM
2000
TRUST ACCUMULATION OF CHARITABLE AMOUNTS
541-A
For calendar years only.
Name of trust
Federal employer identification number (FEIN)
-
Name of trustee(s)
Address of each trustee (number and street, including suite number or rural route)
PMB no.
City, town, or post office
State
ZIP Code
This return must be filed on or before April 16, 2001. Mail to:
FRANCHISE TAX BOARD PO BOX 942840 SACRAMENTO CA 94240-0000.
DO NOT ATTACH TO FORM 541
(If more space is needed, please attach a separate list.)
ANSWER THESE QUESTIONS:
1 Date trust was created
M
D
Y
5
Have you filed a return on Form 541 for the year covered by this
2 Is any trustee a resident of California?
Yes
No
return?
3 Was the grantor or creator of the trust a resident of California during the
6
Do any of the amounts shown on the face of this return differ from the
taxable year of the trust?
corresponding amounts reported on federal Form 1041-A?
4 Name and address of grantor or creator
____________________________
Yes (attach a schedule explaining the differences)
____________________________________________________________
7
Are you required to file federal Form 990-T for the unrelated business
and/or lease indebtedness income?
PART I
Income and Deductions. See instructions for Form 541. If total income is $25,000 or less, skip line 1 through line 8 and enter total income on line 9.
1
Interest income
. . . . . .
. .
. . .
.
. . . .
. . . . .
. . . . . . . . . . . .
. . . . . . .
. . . . . . . . . . .
2
. . .Dividends . . . .
3
Business income or (loss). Attach federal Schedule C or C-EZ (Form 1040)
Income
4
Capital gain or (loss). Attach Schedule D (541)
. . . . . .Rents, royalties, partnerships, LLCs, other estates and trusts, etc. Attach federal Schedule E (Form 1040)
. .Farm income or (loss). Attach federal Schedule F (Form 1040)
.Ordinary gain or (loss). Attach Schedule D-1
8
Other income. State nature of income
. . . . . . . . ._________________________________________________
9
Total income. Add line 1 through line 8
. . . . . . . . . .
10
Interest
Deductions
11
. . .Taxes
12
Charitable deduction. Itemize by charitable purpose; include payee’s name and address.
See instructions for Part II and Part III
13
. . .Trustee fees . . .
14
Attorney, accountant, and return preparer fees
15
. . . . . . .Other deductions. Attach schedule
PART II Distributions of Income Set Aside in Prior Taxable Years for Charitable Purposes. See instructions.
16
Accumulated income set aside in prior taxable years for which a deduction was claimed under IRC Section 642(c) . . .
17Income set aside in prior taxable years for which a deduction was claimed under IRC Section 642(c) and which
was distributed during the current taxable year. Itemize by charitable purpose; include payee’s name and address.
a _____________________________________________________________________
17a
b _____________________________________________________________________
17b
c _____________________________________________________________________
17c
18
Total. Add line 17a through line 17c
. . . . . . . . . . . . . . . . . . . . . . 18
19
Balance. Subtract line 18 from line 16
. . . . . . . . . . . . . . . . . . . . . . . 19
20
Income set aside during the current taxable year for which a deduction was claimed under IRC Section 642(c)
(included in Part I, line 12)
. . . . . . . . . . . . . . . . . . . . . . . 20
21
Carryover. Add line 19 and line 20
. . . . . . . . . . . . . . . . . . . . . . 21
PART III Distributions of Principal for Charitable Purposes
22
Principal distributed in prior taxable years for charitable purposes
. . . . . . . . . . . . . . . . . . . . . . 22
23
Principal distributed during the current taxable year for charitable purposes. Itemize by charitable
purpose; include payee’s name and address.
23a
23b
23c
24
Total. Add line 23a through line 23c
. . . . . . . . . . . . . . . . . . . . . . 24
541A00109
Form23456789012345678901541-A C1 000 Side 1
PART IV
Balance Sheet. If line 9 is $25,000 or less, complete only line 38, line 42, and line 45. If books of account do not agree, please reconcile all differences.
ASSETS
(a) Beginning-of-Year Book Value
(b) End-of-Year Book Value
Cash — non-interest bearing
25
26
. . . . . . . . . . . . . . . . . . . .Savings and temporary cash investments
27
a
. . . . . . . . . . .Accounts receivable
. . . . . . . . . . . . . . . . . . . . . .
27a
. . . . . . . . . . . . . . . . . .b Less: allowance for doubtful accounts
27b
28
. . . . . . . . . . . . . . . . . . . . . . . . . . .a Notes and loans receivable
28a
28b
29
Inventories for sale or use
. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . .
30
. . . . . . . . . . . . . . . . . . . . .Prepaid expenses and deferred charges
31
. . . . . . . . . . . . . . . . .Investments — U.S. and state government obligations. Attach schedule
Investments — corporate stock. Attach schedule
32
33
. . . . . . . . . . . . .Investments — corporate bonds. Attach schedule
34
Investments — land, buildings, and equipment: basis
34a
b
. . . . . . . . . . . . . . . . . . . . . . .Less: accumulated depreciation
34b
Investments — other. Attach schedule
35
36
Land, buildings, and equipment (trade or business): basis . .
36a
36b
37
Other assets. Describe.
_____________________________________________________
38
. . . . . . . . . . . . . . . . . . .Total assets. Add line 25 through line 37
LIABILITIES
39
Accounts payable and accrued expenses
40
. . . . . . . . . . .Mortgages and other notes payable. Attach schedule
41
Other liabilities. Describe.
___________________________________________________
42
. . . . . . . . . . . . . . . . .Total liabilities. Add line 39 through line 41
NET ASSETS
43 Trust principal or corpus
43
. . . . . . . . . . . . . . . . . . . . . . . . . .44 Undistributed income and profits
44
. . . . . . . . . . . . . . . . . . . .45 Total net assets. Add line 43 and line 44
. . . . . . . .46 Total liabilities and net assets. Add line 42 and line 45
46
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is
Please
true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Sign
Date
Trustee’s SSN/FEIN
Here
___________________________________________________________
Signature of trustee or officer representing trustee
Paid preparer’s SSN/PTIN
Paid
Preparer’s
Check if self-
employed
signature
FEIN
Use Only
Firm’s name (or yours, if
self-employed) and address
Side 2 Form 541-A C1 2000
541A00209
For Privacy Act Notice, get form FTB 1131.
Instructions for FTB Form 541-A
Trust Accumulation of Charitable Amounts
General Information
In general, California tax law conforms to the Internal Revenue Code (IRC) as of
January 1, 1998. However, there are continuing differences between California and federal tax law. California has not conformed to most of the changes made to the IRC by the federal Internal Revenue Service Restructuring and Reform Act of 1998 (Public Law 105-206) and has not conformed to any of the changes made by the Tax and Trade Relief Extension Act of 1998 (Public Law 105-277), the Miscellaneous Trade and Technical Corrections Act of 1999 (Public
Law 106-36), and the Ticket to Work and Work Incentives Improvement Act of 1999 (Public Law 106-170).
A Purpose
Use Form 541-A to report the charitable information required by Revenue and Taxation Code (R&TC) Section 18635.
BWho Must File
A trustee must file a calendar year Form 541-A for a trust that claims a charitable or other deduction under IRC Section 642(c) or for a charitable or split- interest trust. However, Form 541-A is not required for any taxable year if the trustee is required by the terms of the governing instrument and applicable local law to distribute currently all of the income of the trust for such year.
A charitable trust is a trust which:
•Is not exempt from taxation under R&TC Section 23701d; and
•Has all the unexpired interests devoted to charitable purposes described in IRC Section 170(c); and
•Had a charitable contribution deduction allowed for all the unexpired interests under the R&TC.
A split-interest trust is a trust which:
•Has some of the unexpired interests devoted to one or more charitable purposes described in IRC Section 170(c); and
•Has amounts in trust for which a chari- table contributions deduction was allowed under the R&TC. Pooled income funds (IRC Section 642(c)(5)), charitable remainder annuity trusts (IRC
Section 664(d)(1)), and remainder unitrusts (IRC Section 664(d)(2)), are considered split-interest trusts for which the trustee must file Form 541-A for the taxable year.
Simple trusts which received a letter from the Franchise Tax Board (FTB) granting exemption from tax under R&TC Section 23701d are considered to be corporations for tax purposes. They may be required to file Form 199, California Exempt Organization Annual Information Return. See the instructions for that form.
Nonexempt charitable trusts, described in IRC Section 4947(a)(1), must file Form 199.
Private Mailbox (PMB) No.
If you lease a mailbox from a private business rather than a PO box from the United States Postal Service, enter your PMB number in the field labeled “PMB no.”
CWhen to File
File Form 541-A on or before April 16, 2001. However, if you need additional time to file, California grants an automatic six-month extension. A request form is not required to obtain this extension.
DWhere to File
Mail Form 541-A to:
FRANCHISE TAX BOARD PO BOX 942840 SACRAMENTO CA 94240-0000
Specific Instructions
Part II and Part III
Describe in detail on an attached statement the purpose for which charitable disburse- ments were made from income set aside in prior taxable years and amounts which were paid out of principal for charitable purposes. Examples of appropriate descriptions are: payments for nursing service, laboratory construction, fellowships, or assistance to indigent families (not simply charitable, educational, religious, or scientific).
Part IV
If the balance sheet does not agree with the books of account, all differences must be reconciled in an attached statement.
Form 541-A Instructions 2000
Ca Llc Formation,700 - It covers financial interests exceeding $2,000, aiming to safeguard the integrity of academic research by revealing potential financial biases.
How to Check Gun Registration Online - The form differentiates between types of transactions, like dealer sales, private party transfers, and loans.