Annual Trust Accounting (Indiana)

ANNUAL TRUST ACCOUNTING

(Pursuant to Indiana Code § 30-4-5-12 and § 30-4-5-13)

TABLE OF CONTENTS

1. Cover Page and Trust Identification
2. Accounting Period and Statutory Basis
3. Beneficiary Identification
4. Trustee Identification and Compensation
5. Schedule A — Assets on Hand (Inventory Value and Fair Market Value)
6. Schedule B — Liabilities
7. Schedule C — Principal Receipts
8. Schedule D — Income Receipts
9. Schedule E — Principal Disbursements
10. Schedule F — Income Disbursements
11. Schedule G — Distributions to Beneficiaries
12. Schedule H — Trustee and Agent Compensation
13. Schedule I — Reconciliation and Closing Balances
14. Statement of Administration in Accordance with Trust
15. Effect of Written Approval and Exculpation Limits
16. Beneficiary Objection Procedure (IC 30-4-5-14)
17. Optional Beneficiary Receipt and Approval
18. Trustee Verification

1. COVER PAGE AND TRUST IDENTIFICATION

2. ACCOUNTING PERIOD AND STATUTORY BASIS

3. BENEFICIARY IDENTIFICATION

(Required by IC 30-4-5-13(a)(7) and (8) when filed with court; recommended for all annual statements.)

Unborn or Unascertained Beneficiaries (IC 30-4-5-13(a)(8)): [________________________________]

4. TRUSTEE IDENTIFICATION AND COMPENSATION

5. SCHEDULE A — ASSETS ON HAND (INVENTORY VALUE AND FAIR MARKET VALUE)

(Required by IC 30-4-5-12(a)(2) and § 30-4-5-13(a)(5); per § 30-4-5-13(a)(5), both inventory AND current market values must be shown when account is filed with the court.)

6. SCHEDULE B — LIABILITIES

NET TRUST VALUE (Assets − Liabilities): $ [__________]

7. SCHEDULE C — PRINCIPAL RECEIPTS

(IC 30-4-5-13(a)(3) — itemized schedule of principal cash and property received.)

8. SCHEDULE D — INCOME RECEIPTS

(IC 30-4-5-13(a)(4) — itemized schedule of income received.)

9. SCHEDULE E — PRINCIPAL DISBURSEMENTS

Record principal distributions to beneficiaries in Schedule G and do not repeat them here.

10. SCHEDULE F — INCOME DISBURSEMENTS

Record income distributions to beneficiaries in Schedule G and do not repeat them here.

11. SCHEDULE G — DISTRIBUTIONS TO BENEFICIARIES

12. SCHEDULE H — TRUSTEE AND AGENT COMPENSATION

Unless the Trust provides otherwise, the Trustee is entitled to reasonable compensation under IC 30-4-5-16(a), subject to the section's stated conditions and the court's authority.
List compensation here for detail; include each payment once in Schedule E or F for reconciliation.

13. SCHEDULE I — RECONCILIATION AND CLOSING BALANCES

(IC 30-4-5-13(a)(2) and (a)(5).)

How Closing Balance Is Invested (IC 30-4-5-13(a)(5)): [________________________________]

14. STATEMENT OF ADMINISTRATION IN ACCORDANCE WITH TRUST

(IC 30-4-5-13(a)(6).)

The undersigned Trustee states that, to the best of the Trustee's knowledge, the Trust has been administered during the accounting period in accordance with the terms of the Trust and applicable Indiana law.

15. EFFECT OF WRITTEN APPROVAL AND EXCULPATION LIMITS

Notice to Beneficiary. Under IC 30-4-5-14(a), written approval of the annual statement is deemed to discharge the Trustee from liability as to the approving beneficiary for matters disclosed in that statement. Receipt alone is not approval. No fixed period for objecting to this annual statement is set by the cited section.

Under IC 30-4-3-32, a provision in the Trust cannot relieve the Trustee from liability for a breach committed in bad faith, intentionally, or with reckless indifference to a beneficiary's interest, or for profit derived from a breach of trust.

16. BENEFICIARY OBJECTION PROCEDURE (IC 30-4-5-14)

A beneficiary who objects to any matter in this accounting may take any one or more of the following actions:

1. Informal Objection. Deliver a written objection to the Trustee at the address in Section 4. Record the objection and the Trustee's response with this Accounting.

2. Petition for Court Accounting and Approval (IC 30-4-5-12(c)). Petition the court of probate jurisdiction in [________________________________] County, Indiana, to direct the Trustee to file a verified written statement of accounts containing all items required by IC 30-4-5-13(a).

3. File Specific Objections in Approval Proceeding (IC 30-4-5-14(b)–(d)). A person authorized by § 30-4-5-12(c) may file a responsive pleading within the applicable period after notice. Objections to matters in the account must be specific unless the court orders otherwise. Upon a request for approval, the court determines the account's correctness and the propriety of disclosed Trustee actions and may take other necessary action.

4. Action for Breach of Trust (IC 30-4-3-22). An eligible beneficiary may bring an action to compel performance, prevent or redress a breach, or remove a Trustee for cause.

17. OPTIONAL BENEFICIARY RECEIPT AND APPROVAL

(Use of this section is voluntary. The receipt and approval choices have different effects.)

I, [________________________________], the undersigned beneficiary (or personal representative of beneficiary) of the Trust identified in Section 1, hereby acknowledge and state:

☐ I have received a copy of this Annual Trust Accounting for the period [__/__/____] to [__/__/____];

☐ I have had a reasonable opportunity to review the Accounting and to consult independent counsel and a CPA at my own election;

☐ I approve the Annual Trust Accounting. I understand that under Ind. Code § 30-4-5-14(a), my written approval is deemed to discharge the Trustee from liability to me for matters disclosed in this statement. I have left this box unchecked if I only acknowledge receipt.

Signature: _____________________________________

Printed Name: [________________________________]

Date: [__/__/____]

18. TRUSTEE VERIFICATION

(Required when account is filed under IC 30-4-5-12(c); recommended for all accounts.)

I, [________________________________], currently acting Trustee of the Trust identified in Section 1, under the penalties for perjury under the laws of the State of Indiana, verify that:

1. I have prepared, or caused to be prepared under my direction, this Annual Trust Accounting and the accompanying Schedules A through I;

2. The information set forth is true and correct to the best of my knowledge, information, and belief;

3. The Trust has been administered in accordance with its terms and the Indiana Trust Code during the accounting period;

4. This Accounting includes all material matters known to me concerning the administration of the Trust during the accounting period.

Signature: _____________________________________

Printed Name: [________________________________]

Title: Trustee

Date: [__/__/____]

SOURCES AND REFERENCES

• Indiana Code 2026, Ind. Code §§ 30-4-5-12, 30-4-5-13, 30-4-5-14, and 30-4-5-16: https://iga.in.gov/ic/2026/Title_30/Article_4/Chapter_5.pdf
• Indiana Code 2026, Ind. Code §§ 30-4-3-6, 30-4-3-22, and 30-4-3-32: https://iga.in.gov/ic/2026/Title_30/Article_4/Chapter_3.pdf

END OF ANNUAL TRUST ACCOUNTING