Annual Trust Accounting (Vermont Trust Code, 14A V.S.A. § 813(c))
ANNUAL TRUSTEE'S REPORT
Before you use this: Check the trust terms under § 105 and whether the trust is revocable or property remains subject to a withdrawal power under § 603. Complete all required schedules and recipients for this report.
Pursuant to 14A V.S.A. § 813(c)
I. TRUST IDENTIFICATION
| Field | Detail |
|---|---|
| Name of Trust | [________________________________] |
| Date of Original Trust Instrument | [__/__/____] |
| Settlor(s) | [________________________________] |
| Trust Tax ID / EIN | [____________________] |
| Type of Report | ☐ Annual ☐ Termination ☐ Trustee Vacancy ☐ Interim |
| Accounting Period — From | [__/__/____] |
| Accounting Period — Through | [__/__/____] |
| Principal Place of Administration (County, VT) | [____________________] |
II. TRUSTEE IDENTIFICATION
| Trustee Name | Capacity | Dates Served During Period | Mailing Address | Telephone |
|---|---|---|---|---|
| [____________________] | [____________________] | [__/__/____] to [__/__/____] | [____________________] | [____________________] |
| [____________________] | [____________________] | [__/__/____] to [__/__/____] | [____________________] | [____________________] |
III. BENEFICIARIES RECEIVING THIS REPORT (§ 813(c))
| # | Name | Basis for Receiving Report (Distributee / Permissible Distributee / Other Requesting Beneficiary / Qualified Beneficiary on Vacancy) | Mailing Address |
|---|---|---|---|
| 1 | [____________________] | [____________________] | [____________________] |
| 2 | [____________________] | [____________________] | [____________________] |
| 3 | [____________________] | [____________________] | [____________________] |
IV. SUMMARY OF REPORT
| Line | Principal | Income | Total |
|---|---|---|---|
| Beginning Balance (Assets, Start of Period) | $[____________] | $[____________] | $[____________] |
| Plus: Receipts During Period | $[____________] | $[____________] | $[____________] |
| Plus: Net Gains on Sales / Other Charges | $[____________] | $[____________] | $[____________] |
| Less: Disbursements During Period | ($[__________]) | ($[__________]) | ($[__________]) |
| Less: Distributions to Beneficiaries | ($[__________]) | ($[__________]) | ($[__________]) |
| Less: Net Losses on Sales / Other Credits | ($[__________]) | ($[__________]) | ($[__________]) |
| Ending Balance (Assets, End of Period) | $[____________] | $[____________] | $[____________] |
V. SCHEDULE OF RECEIPTS (§ 813(c))
A. Income Receipts
| Date | Source / Description | Category (Interest / Dividend / Rent / etc.) | Amount |
|---|---|---|---|
| [__/__/____] | [____________________] | [____________________] | $[____________] |
| [__/__/____] | [____________________] | [____________________] | $[____________] |
| [__/__/____] | [____________________] | [____________________] | $[____________] |
| Total Income Receipts | $[____________] |
B. Principal Receipts
| Date | Source / Description | Category (Sale Proceeds / Refund / Contribution / etc.) | Amount |
|---|---|---|---|
| [__/__/____] | [____________________] | [____________________] | $[____________] |
| [__/__/____] | [____________________] | [____________________] | $[____________] |
| [__/__/____] | [____________________] | [____________________] | $[____________] |
| Total Principal Receipts | $[____________] |
VI. SCHEDULE OF DISBURSEMENTS (§ 813(c))
A. Ordinary Administration Expenses
| Date | Payee | Description | Principal / Income | Amount |
|---|---|---|---|---|
| [__/__/____] | [____________________] | [____________________] | [_______] | $[____________] |
| [__/__/____] | [____________________] | [____________________] | [_______] | $[____________] |
| [__/__/____] | [____________________] | [____________________] | [_______] | $[____________] |
| Subtotal | $[____________] |
B. Distributions to Beneficiaries
| Date | Beneficiary | Description / Purpose | Principal / Income | Amount |
|---|---|---|---|---|
| [__/__/____] | [____________________] | [____________________] | [_______] | $[____________] |
| [__/__/____] | [____________________] | [____________________] | [_______] | $[____________] |
| [__/__/____] | [____________________] | [____________________] | [_______] | $[____________] |
| Subtotal | $[____________] |
C. Taxes
| Date | Taxing Authority | Tax Year / Type | Principal / Income | Amount |
|---|---|---|---|---|
| [__/__/____] | [____________________] | [____________________] | [_______] | $[____________] |
| [__/__/____] | [____________________] | [____________________] | [_______] | $[____________] |
| Subtotal | $[____________] |
VII. STARTING STATEMENT OF ASSETS (As of [__/__/____])
| Asset Description | Inventory / Carry Value | Fair Market Value | Allocation (Principal / Income) |
|---|---|---|---|
| [____________________] | $[____________] | $[____________] | [____________] |
| [____________________] | $[____________] | $[____________] | [____________] |
| [____________________] | $[____________] | $[____________] | [____________] |
| Total Starting Assets | $[____________] | $[____________] |
VIII. ENDING STATEMENT OF ASSETS (§ 813(c)) (As of [__/__/____])
| Asset Description | Inventory / Carry Value | Fair Market Value | Allocation (Principal / Income) |
|---|---|---|---|
| [____________________] | $[____________] | $[____________] | [____________] |
| [____________________] | $[____________] | $[____________] | [____________] |
| [____________________] | $[____________] | $[____________] | [____________] |
| [____________________] | $[____________] | $[____________] | [____________] |
| Total Ending Assets | $[____________] | $[____________] |
IX. STATEMENT OF LIABILITIES (§ 813(c))
| Liability / Creditor | Nature of Obligation | Balance as of End of Period |
|---|---|---|
| [____________________] | [____________________] | $[____________] |
| [____________________] | [____________________] | $[____________] |
| Total Liabilities | $[____________] |
☐ The Trust has no outstanding liabilities as of the end of the accounting period.
X. TRUSTEE COMPENSATION AND AGENTS HIRED
A. Trustee Compensation (§ 813(c))
| Trustee | Basis of Compensation | Amount Paid During Period | Source (P / I) |
|---|---|---|---|
| [____________________] | [____________________] | $[____________] | [_______] |
| [____________________] | [____________________] | $[____________] | [_______] |
B. Agents Hired by Trustee (Recommended Disclosure)
| Agent / Firm | Role / Services Rendered | Relationship to Trustee (if any) | Compensation Paid |
|---|---|---|---|
| [____________________] | [____________________] | ☐ None ☐ [____________] | $[____________] |
| [____________________] | [____________________] | ☐ None ☐ [____________] | $[____________] |
| [____________________] | [____________________] | ☐ None ☐ [____________] | $[____________] |
C. Related-Party Transactions (Additional Disclosure)
☐ The Trustee did not engage in any transaction 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:
[____________________________________________________________]
[____________________________________________________________]
XI. TRUSTEE STATEMENT AND SIGNATURE
I have reviewed this report and its attached schedules. To the best of my knowledge from the trust's books and records, they disclose the trust property, liabilities, receipts, disbursements, source and amount of trustee compensation, and a listing of assets with market values where feasible for the period shown above. Supporting schedules attached: [LIST OR "NONE"].
Trustee signature: [________________________________]
Printed name and capacity: [________________________________]
Date: [__/__/____]
XII. RECIPIENT AND DELIVERY RECORD
Send an annual or termination report to each distributee or permissible distributee of trust income or principal, and to each other beneficiary who requested one, under 14A V.S.A. § 813(c). On a trusteeship vacancy with no cotrustee remaining in office, the former trustee must send a report to the qualified beneficiaries. A beneficiary may waive the right to reports and later withdraw a waiver as to future reports under § 813(d). Use a delivery method reasonably suitable under the circumstances and likely to result in receipt under § 109.
| Recipient | Basis for report | Method and destination | Date sent | Waiver, if any |
|---|---|---|---|---|
| [NAME] | [BASIS] | [METHOD AND ADDRESS] | [__/__/____] | [NONE / DETAILS] |
| [NAME] | [BASIS] | [METHOD AND ADDRESS] | [__/__/____] | [NONE / DETAILS] |
| [NAME] | [BASIS] | [METHOD AND ADDRESS] | [__/__/____] | [NONE / DETAILS] |
Sources and references
- Vermont Trust Code: https://legislature.vermont.gov/statutes/fullchapter/14A/001; https://legislature.vermont.gov/statutes/section/14A/006/00603; https://legislature.vermont.gov/statutes/fullchapter/14A/008
About this template
- Last updated
- October 6, 2026
- Citations checked
- October 6, 2026
- Jurisdiction
- Vermont
- Category
- Estate Planning & Wills
Legal authority
- 14A V.S.A. § 105 (Default and mandatory rules)
- 14A V.S.A. § 109 (Methods and waiver of notice)
- 14A V.S.A. § 603 (Settlor's powers; powers of withdrawal)
- 14A V.S.A. § 813 (Duty to inform and report)
Estate planning documents decide what happens to your property, your children, and your medical care when you cannot make those decisions yourself. Wills, trusts, powers of attorney, and health care directives each serve different purposes and each have to meet state law requirements for signing, witnessing, and notarization. A document that looks fine on the page but was not executed correctly can be rejected in probate, which is exactly when it is too late to fix.
Not legal advice
This template is provided for informational purposes. We recommend having an attorney review any legal document before signing, especially for high-value or complex matters.
Checked against the law it cites
A reviewer verified this template's legal citations against the official source on October 6, 2026.
14A V.S.A. § 105 (checked October 6, 2026): "Except as otherwise provided in the terms of the trust, this title governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary."
14A V.S.A. § 109 (checked October 6, 2026): "Notice to a person under this title or the sending of a document to a person under this title must be accomplished in a manner reasonably suitable under the circumstances and likely to result in receipt of the notice or document."
14A V.S.A. § 603 (checked October 6, 2026): "While a trust is revocable, rights of the beneficiaries are subject to the control of, and the duties of the trustee are owed exclusively to, the settlor."
14A V.S.A. § 603(b) (checked October 6, 2026): "During the period the power may be exercised, the holder of a power of withdrawal has the rights of a settlor of a revocable trust under this section to the extent of the property subject to the power."
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