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jgordosea
jgordosea, Enrolled Agent
Category: Tax
Satisfied Customers: 3161
Experience:  I've prepared all types of taxes since 1987.
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i HAVE A CHARITABLE REMAINDER TRUST. HOW DO THE 1041 AND 5227

Resolved Question:

i HAVE A CHARITABLE REMAINDER TRUST. HOW DO THE 1041 AND 5227 RELATE? i KEEP GETTING THE MESSAGE THE THE 5227 DOES NOT BELONG WITH THE 1041
Submitted: 4 years ago.
Category: Tax
Expert:  jgordosea replied 4 years ago.

Greetings,

 

Form 5227 is not filed as part of the 1041 income tax return.

 

Form 5227 is for financial reporting and is filed separately from the Form 1041.

 

See the instructions at http://www.irs.gov/instructions/i5227/ch01.html#d0e277

 

"Where To File

U.S. Address. If you are located in the United States, file Form 5227 at the following address:

Department of the Treasury
Internal Revenue Service Center
Ogden, UTNNN-NN-NNNN

 

Outside the U.S. If you are located in a foreign country or a U.S. possession, file Form 5227 at this address:

Internal Revenue Service Center
P.O. Box 409101
Ogden, UT 84409"

 

This is similar to the individual that reports income on a 1040 and also separately reports foreign accounts and amounts held in those accounts.

 

The 1041 is reporting income subject to tax. The 5227 is reporting other information such as the balance sheet.

 

Please ask if you need clarification.

Thank you.

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