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A charitable remainder unitrust (CRUT) document states that

Customer Question
the unitrust distribution is to...
A charitable remainder unitrust (CRUT) document states that the unitrust distribution is to be paid to the recipient "at the end of each calendar month".

How does the IRS interpret the words "at the end of each calendar month"

Does it mean on the last business day of the month?
Does it mean sometime during the last week of the month?
If the end of the calendar month falls on a Saturday, Sunday or Holiday, does it mean that the distribution is paid out prior to the last day of the month. OR, does the distribution get held-over and is paid on the 1st business day of the following month?
Submitted: 8 years ago.Category: Tax
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Answered in 19 hours by:
7/3/2009
Tax Professional: Merlo, Accountant replied 8 years ago
Merlo
Merlo, Accountant
Category: Tax
Satisfied Customers: 9,783
Experience: 25+ years tax consulting. Specializing in returns for US citizens living abroad
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HelloCustomer

The definition of "at the end of each calendar month" is not something dictated by the IRS.

That is wording chosen by the creator of the trust, and the trust document itself should further clarify how those payments are handled if the end of the month falls on a weekend or holiday. It is not something determined by the IRS.

Normally in the absence of any specific rules regarding the end of month date, the distribution should be made on the last business day of the month in order to be in compliance with the terms of the trust document.

If this was helpful please press the Accept button. Positive feedback is also appreciated.

Thank youCustomer

Merlo
Merlo, Accountant
Category: Tax
Satisfied Customers: 9,783
Experience: 25+ years tax consulting. Specializing in returns for US citizens living abroad
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