Charitable Remainder Trust Summary
CHARITABLE REMAINDER TRUST SUMMARY
Prepared for: [TRUSTEE, DONOR OR ADVISOR]
Prepared by and capacity: [NAME; ROLE]
As-of date: [DATE]
Purpose of delivery: [TRUST ADMINISTRATION / ADVISOR REVIEW / BENEFICIARY REPORTING / OTHER]
1. TRUST AND PARTIES
| Item | Recorded information and supporting document |
|---|---|
| Trust name | [EXACT NAME; TRUST AGREEMENT DATE AND PAGE] |
| Trust identification number | [EIN, IF ASSIGNED; KEEP FULL NUMBER IN SECURE RECORD] |
| Governing state and situs | [STATE; RELEVANT TRUST CLAUSE] |
| Trust creation and first funding | [EXECUTION DATE; FUNDING DATE; RECORD] |
| Trustee and successor | [NAMES, CAPACITIES, CONTACT AND ACCEPTANCE RECORD] |
| Donor or donors | [NAMES AND CONTACT; CONTRIBUTION RECORD] |
| Noncharitable recipients | [NAMES; INTERESTS; PAYMENT TERMS; TRUST CLAUSE] |
| Remainder charities | [LEGAL NAMES; IDENTIFIERS; PERCENTAGES; CONTINGENCIES; TRUST CLAUSE] |
Document type as written: [ANNUITY TRUST / UNITRUST / NET INCOME UNITRUST / NET INCOME WITH MAKEUP UNITRUST / FLIP UNITRUST / OTHER].
Operative trust provisions reviewed: [AGREEMENT NAME, EXECUTION DATE, AMENDMENTS AND EXACT CLAUSES].
Any provision or amendment requiring counsel review: [DESCRIPTION OR NONE IDENTIFIED].
2. CONTRIBUTIONS AND VALUATION
| Transfer date | Donor and asset; identifying record | Adjusted basis, if known | Value used and valuation source | Restrictions, debt or issues |
|---|---|---|---|---|
| [DATE] | [DONOR; ASSET; TRANSFER RECORD] | $[AMOUNT] | $[AMOUNT; APPRAISAL OR MARKET RECORD] | [DETAILS] |
| [DATE] | [DONOR; ASSET; TRANSFER RECORD] | $[AMOUNT] | $[AMOUNT; SOURCE] | [DETAILS] |
| Total initial funding | $[AMOUNT] |
Later funding, if any: [DATE, ASSET, VALUE, SOURCE AND WHETHER ACCEPTED UNDER THE ACTUAL TRUST TERMS].
Appraisal and noncash reporting records: [APPRAISAL DATE, APPRAISER, FORM OR OTHER DOCUMENT ACTUALLY USED; OR NOT APPLICABLE].
Open valuation questions: [SPECIFIC QUESTIONS OR NONE IDENTIFIED].
3. PAYMENT AND REMAINDER TERMS
| Term | Exact trust term and source |
|---|---|
| Payment formula | [FIXED AMOUNT OR PERCENTAGE; NET INCOME LIMIT OR MAKEUP IF WRITTEN; SECTION AND PAGE] |
| Measurement base and valuation date | [INITIAL VALUE OR ANNUAL REVALUATION METHOD; SECTION AND PAGE] |
| Recipients and shares | [NAMES AND SHARES; SECTION AND PAGE] |
| Payment dates and method | [DATES; SOURCE CLAUSE] |
| Duration | [MEASURING LIFE OR TERM; SECTION AND PAGE] |
| Change or flip event, if any | [OBJECTIVE EVENT, EFFECTIVE DATE AND CLAUSE; OR NONE] |
| Remainder distribution | [CHARITY, SHARE, CONTINGENT CHARITY AND CLAUSE] |
Current-year required distribution calculated by trustee or tax advisor: $[AMOUNT], for [YEAR], using [WORKPAPER NAME AND DATE].
Paid through as-of date: $[AMOUNT]; remaining according to workpaper: $[AMOUNT].
Actuarial remainder calculation at each relevant transfer: [PREPARER, DATE, METHOD, RATE MONTH, FACTOR, REMAINDER VALUE AND PERCENTAGE; ATTACH WORKPAPER].
Qualification or valuation issue flagged for counsel: [SPECIFIC ISSUE OR NONE IDENTIFIED].
4. TAX AND FILING RECORD
| Tax year | Form 5227 status and filing date | Beneficiary reporting status | Other applicable return, payment or issue |
|---|---|---|---|
| [YEAR] | [FILED DATE / PENDING; CONFIRMATION] | [K-1 ISSUED DATE / PENDING] | [SPECIFIC FORM OR ISSUE; OR NONE IDENTIFIED] |
| [YEAR] | [FILED DATE / PENDING; CONFIRMATION] | [K-1 ISSUED DATE / PENDING] | [SPECIFIC FORM OR ISSUE; OR NONE IDENTIFIED] |
Income and gain character workpaper: [PREPARER; PERIOD; DATE; LOCATION].
Unrelated business income or prohibited transaction review: [FACTS, ADVISOR, DATE AND RESULT; DO NOT ASSUME NONE].
Donor deduction analysis, if requested: [DONOR, TRANSFER, VALUATION, LIMITATION AND RETURN WORKPAPER; NO DEDUCTION REPRESENTED BY THIS SUMMARY].
Next filing or payment deadline, confirmed for the relevant year: [DATE; OFFICIAL INSTRUCTIONS OR TRUST CLAUSE; RESPONSIBLE PERSON].
5. ASSETS, RECORDS AND OPEN ACTIONS
Assets held as of [DATE]: [ATTACH ACCOUNTING WITH VALUES, CUSTODIANS AND VALUATION DATE].
Liabilities and liquidity for future payments: [DETAILS OR NONE IDENTIFIED].
Material distributions, sales or changes since prior summary: [DATES, AMOUNTS AND RECORDS].
Trust agreement, amendments, funding records, valuation reports, returns, recipient statements and payment records held at: [SECURE LOCATION AND CUSTODIAN].
| Action needed | Reason and source record | Responsible person | Target date |
|---|---|---|---|
| [SPECIFIC ACTION] | [TRUST CLAUSE, RETURN OR ADVISOR NOTE] | [NAME] | [DATE] |
| [SPECIFIC ACTION] | [SOURCE] | [NAME] | [DATE] |
6. CONFIRMATION
I prepared this summary from the documents identified above and believe it accurately records the trust information available to me as of [DATE]. Any unresolved item is identified in Sections 4 or 5.
Signature: [SIGNATURE]
Printed name and capacity: [NAME; CAPACITY]
Date: [DATE]
SOURCES AND REFERENCES
- IRS, Charitable remainder trusts (accessed 2026-09-27).
- IRS, Instructions for Form 5227 (accessed 2026-09-27; confirm instructions for the actual filing year).
About this template
- Last updated
- September 28, 2026
- Citations checked
- September 28, 2026
- Jurisdiction
- All states
- Category
- Tax Law
Legal authority
- 26 U.S.C. § 664 (charitable remainder annuity trusts and unitrusts)
- IRS Instructions for Form 5227 (2025) (split-interest trust annual return)
Tax law covers the paperwork that documents income, deductions, disputes, and settlements with the IRS and state tax authorities. Protests, offers in compromise, installment agreement requests, and appeals each have their own forms, supporting documentation, and strict deadlines. Well-prepared tax correspondence is often the difference between a negotiated resolution and an enforcement action with levies, liens, or penalties.
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 September 28, 2026.
26 U.S.C. § 664(a) (checked September 28, 2026): "Notwithstanding any other provision of this subchapter, the provisions of this section shall, in accordance with regulations prescribed by the Secretary, apply in the case of a charitable remainder annuity trust and a charitable remainder unitrust."
26 U.S.C. § 664(d)(2)(A) (checked September 28, 2026): "For purposes of this section, a charitable remainder unitrust is a trust- (A) from which a fixed percentage (which is not less than 5 percent nor more than 50 percent) of the net fair market value of its assets, valued annually, is to be paid, not less often than annually, to one or more persons"
26 U.S.C. § 664(c)(2)(A) (checked September 28, 2026): "In the case of a charitable remainder annuity trust or a charitable remainder unitrust which has unrelated business taxable income (within the meaning of section 512, determined as if part III of subchapter F applied to such trust) for a taxable year, there is hereby imposed on such trust or unitrust an excise tax equal to the amount of such unrelated business taxable income."
IRS Instructions for Form 5227 (2025), Who Must File (checked September 28, 2026): "All CRTs described in section 664 must file Form 5227. All pooled income funds described in section 642(c)(5) and all other trusts such as charitable lead trusts that meet the definition of a split-interest trust under section 4947(a)(2) must file Form 5227 unless the Exception next applies."
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