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First of all, if the trust instrument requires it, then yes. Aside from default state law, the trust instrument can require additional/certain reports. So check the trust instrument (that is the document that creates the trust and provides the rules). If you do not have one, a copy may be requested from the Trustee and the Trustee has to send one.
If the trust is silent on this matter, default rules still apply (they would anyhow, but the trust's rules would simply be in addition to the default rules), which per 760 ILCS 5/11 require such an accounting:
a) Every trustee at least annually shall furnish to the beneficiaries then entitled to receive or receiving the income from the trust estate, or if none, then those beneficiaries eligible to have the benefit of the income from the trust estate a current account showing the receipts, disbursements and inventory of the trust estate. A current account shall be binding on the beneficiaries receiving the account and on such beneficiaries' heirs and assigns unless an action against the trustee is instituted by the beneficiary or such beneficiary's heirs and assigns within 3 years from the date the current account is furnished.
(b) Every trustee shall on termination of the trust furnish to the beneficiaries then entitled to distribution of the trust estate a final account for the period from the date of the last current account to the date of distribution showing the inventory of the trust estate, the receipts, disbursements and distributions and shall make available to such beneficiaries copies of prior accounts not theretofore furnished. Such final accounting shall be binding on the beneficiaries receiving the same and all persons claiming by or through them, unless an action against the trustee is instituted by the beneficiary or person claiming by or through him or her within 3 years from the date the final account is furnished.
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