Annual Trust Accounting (Nevada NRS § 165.135 and NRS Chapter 165)

ANNUAL TRUST ACCOUNTING

Pursuant to Nevada Revised Statutes § 165.135 and NRS Chapter 165

Before you use this: Complete the principal, income, asset, investment, and unpaid-claim schedules for the stated period. Check the trust instrument and any court order for who must receive an account and when; Chapter 165 does not impose the same delivery duty for every trust or beneficiary. For a revocable trust, confirm who holds the right to receive an account under NRS 165.1207(1)(b). An annual period is used here only when the instrument, a court order, a beneficiary demand, or the trustee's chosen reporting practice calls for it.

I. TRUST IDENTIFICATION

II. TRUSTEE IDENTIFICATION

III. BENEFICIARIES RECEIVING THIS ACCOUNT (NRS § 165.020(1)(d), (f); NRS § 165.1207)

List current and remainder beneficiaries entitled to an account on demand under NRS 165.1207(1)(a), subject to the trust terms and statutory exceptions in subsection (1)(b).

IV. SUMMARY OF ACCOUNT (NRS § 165.135)

Total charges must equal disbursements, distributions, losses, and assets on hand at period end. Cross-check each amount against the schedules below; count a transaction in one category only.

V. SCHEDULE OF RECEIPTS (NRS § 165.135)

A. Income Receipts

B. Principal Receipts

C. Additions to principal and investments acquired

D. Investments collected, sold, or charged off

Use the gain and loss totals in the summary of account. Record any principal deduction and its purpose in Section VI.

VI. SCHEDULE OF DISBURSEMENTS (NRS § 165.135)

A. Ordinary Administration Expenses

B. Distributions to Beneficiaries

C. Taxes

VII. STARTING STATEMENT OF ASSETS (As of [__/__/____])

VIII. ENDING STATEMENT OF ASSETS (NRS § 165.135) (As of [__/__/____])

Income on hand at period end and how invested: [________________________________]

IX. STATEMENT OF LIABILITIES (NRS § 165.135)

☐ The Trust has no outstanding liabilities as of the end of the accounting period.

X. TRUSTEE AND AGENT COMPENSATION (NRS § 165.135)

A. Trustee Compensation

B. Agents Hired by Trustee

C. Related-Party Transactions

☐ The Trustee did not engage in any transactions during the accounting period with the Trustee personally, with any entity in which the Trustee holds a beneficial interest, or with any agent related to the Trustee, other than as fully disclosed above.

☐ The following related-party transactions occurred during the accounting period and are fully disclosed for the beneficiaries' review:

[____________________________________________________________]

[____________________________________________________________]

XI. DELIVERY RECORD (NRS § 165.1214)

For a required account, record the applicable trust-term or court-order deadline. If neither sets a different deadline, NRS 165.1214(1) calls for delivery within 90 days after the accounting period ends, subject to beneficiary consent or a court extension for good cause.

Period ended: [__/__/____] Delivery due: [__/__/____] Basis for deadline or extension: [________________________________]

Send a copy to each person entitled under the instrument, any court order, and NRS 165.1207. Record each delivery separately because the objection period is measured for each recipient from the date the account was provided to that person.

Supporting mailing, carrier, or personal-delivery records attached: [________________________________]

XII. ACCOUNT OBJECTION INFORMATION (NRS § 165.1214(4)-(5))

A beneficiary who receives this account may deliver a written objection to the trustee. Under NRS 165.1214(4)(a), if that beneficiary does not deliver a written objection within 90 days after the account was provided to them, it is deemed approved and final by that beneficiary. Under subsection (5), absent fraud or intentional misrepresentation, discharge is limited to matters set forth in an account deemed approved and final for the beneficiary concerned. Record the delivery date for each recipient above; do not use a single deadline for recipients served on different days.

Trustee address for a written objection: [________________________________]

XIII. TRUSTEE VERIFICATION AND SIGNATURE

I, the undersigned trustee, have reviewed this account and its attached schedules. To the best of my knowledge based on the trust's books and supporting records, the stated period, beginning and ending assets, receipts, investment activity, deductions, distributions, unpaid claims, and related-party transactions are complete and accurate.

Executed on [__/__/____] at [____________________], Nevada.

Trustee signature: [________________________________] Printed name: [________________________________]

Capacity: [________________________________]

XIV. DELIVERY CERTIFICATION

I delivered the account to the recipients recorded in Section XI by the methods and on the dates stated there. The mailing or delivery records identified there are attached or retained with the trust records.

Name: [________________________________] Signature: [________________________________] Date: [__/__/____]

SOURCES AND REFERENCES

• NRS Chapter 165, current official text
• NRS 165.020, definitions
• NRS 165.1201–165.1207, duty and recipients
• NRS 165.1214, delivery and deemed approval
• NRS 165.135, account contents
• NRS 165.138 and 165.141, account demands