New York Codes, Rules and Regulations
Title 13 - DEPARTMENT OF LAW
Chapter V - CHARITABLE USES AND PURPOSES
Part 92 - Trusts And Estates With A Charitable Interest
Section 92.4 - Charitable lead trusts
Universal Citation: 13 NY Comp Codes Rules and Regs ยง 92.4
Current through Register Vol. 46, No. 39, September 25, 2024
(a) Registration. Charitable lead trusts as defined in section 90.3(b)(2) of this Chapter are required to register pursuant to EPTL section 8-1.4.
(1) What registration documents to submit. To
register with the Attorney General, a charitable lead trust shall submit all of
the following documents:
(i) CHAR001-LT
(registration statement for charitable lead trusts) or a successor form issued
by the Attorney General, which shall include:
(a) identifying information, including the
identity of each charitable beneficiary; and
(b) contact information for each trustee and
attorney for the trust; and
(ii) a copy of the trust instrument and any
amendments.
(2) What
registration fees to submit. Charitable lead trusts are not required to pay a
registration fee pursuant to the EPTL. However, an EPTL filing fee is required
when the charitable lead trust submits each periodic report and its final
report pursuant to subdivisions (b) and (c) of this section.
(3) When to register. Charitable lead trusts
shall register within six months after the trust is funded.
(4) Where to register. Charitable lead trusts
shall submit their registration documents to the New York City office of the
Attorney General's Charities Bureau or such other place as the Attorney General
may designate.
(b) Periodic reports. Charitable lead trusts are required to file annual reports with the Attorney General.
(1) What annual
report documents to submit. The following documents constitute a complete
annual filing for a charitable lead trust:
(i)
CHAR004 (annual filing for charitable lead trust) or a successor form issued by
the Attorney General, which shall include:
(a)
identifying information, including the identity of each charitable beneficiary
and the fiscal year end of the annual report;
(b) contact information for each trustee and
attorney for the trust and each financial institution where trust assets are
held; and
(c) principal, income and
total financial information for the trust, including charges; administration
expenses, distributions to beneficiaries and other credits; liabilities; and
fund balances; and
(ii)
a copy of the trust's IRS form 5227 (split-interest trust information return)
or a successor form.
(2)
What annual report fees to submit. Charitable lead trusts shall pay an annual
EPTL filing fee according to the following schedule:
(i) $25, if the total amount distributed to
charity by the trust during the fiscal year is less than $50,000;
(ii) $50, if the total amount distributed to
charity by the trust during the fiscal year is $50,000 or more but less than
$250,000;
(iii) $100, if the total
amount distributed to charity by the trust during the fiscal year is $250,000
or more but less than $1 million;
(iv) $250, if the total amount distributed to
charity by the trust during the fiscal year is $1 million or more but less than
$10 million;
(v) $750, if the total
amount distributed to charity by the trust during the fiscal year is $10
million or more but less than $50 million; or
(vi) $1,500, if the total amount distributed
to charity by the trust during the fiscal year is $50 million or
more.
(3) When to file
annual reports. A charitable lead trust shall file an annual report within six
months after the end of its fiscal year. The extension request provisions for
charitable organizations contained in section
91.5(f)(3) of
this Chapter apply to annual reports of charitable lead trusts.
(4) Where to file annual reports. A
charitable lead trust shall submit its annual reports to the New York City
office of the Attorney General's Charities Bureau or such other place as the
Attorney General may designate.
(c) Final reports. Charitable lead trusts are required to file a final report with the Attorney General.
(1) What final report documents to submit.
The following documents shall constitute a complete final annual report for a
charitable lead trust:
(i) CHAR004 (annual
filing for charitable lead trust) or a successor form issued by the Attorney
General, which shall include:
(a) identifying
information, including the identity of each charitable beneficiary and the end
date of the annual report;
(b)
contact information for each trustee and attorney for the trust and each
financial institution where trust assets are held; and
(c) principal, income and total financial
information for the trust, including charges; administration expenses,
distributions to beneficiaries and other credits; liabilities; and fund
balances; and
(ii) a
copy of the trust's IRS form 5227 (split-interest trust information return) or
a successor form for the year during which the charitable lead interest
terminates.
(2) What
final report fees to submit. Charitable lead trusts shall pay a final EPTL
annual filing fee of $25, if the total amount distributed to charity by the
trust during the fiscal year is $25,000 or more.
(3) When to file final report. A charitable
lead trust shall file its final report within six months after the end of its
fiscal year during which the lead charitable interest terminated. The extension
request provisions for charitable organizations contained in section
91.5(f)(3) of
this Chapter apply to final reports of charitable lead trusts.
(4) Where to file final report. A charitable
lead trust shall submit its final report to the New York City office of the
Attorney General's Charities Bureau or such other place as the Attorney General
may designate.
Disclaimer: These regulations may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
