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Form 5227 Reporting: Charitable Split-Interest Annuity Trusts and Unitrusts

Avoiding Common Errors in Information Reporting of CLATs, CRATs, CLUTs, and CRUTs

Note: CLE credit is not offered on this program

Recording of a 110-minute CPE webinar with Q&A

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Conducted on Wednesday, January 31, 2024

Recorded event now available

or call 1-800-926-7926

This course will provide tax preparers with detailed guidance on preparing Form 5227, Split-Interest Trust Information Return. The panel will address common mistakes and traps for preparers to avoid and will provide detailed guidance on the "four-tier rules," and discuss UBTI and Chapter 42 Excise Tax reporting requirements, as well as the effect of tax reform on the form.


Practitioners filing IRS Form 5227, Split-Interest Trust Information Return, often struggle with material terms in preparing the complicated return. Common errors include misidentifying the type of split-interest trust, incorrectly calculating required payments to income recipients, and failing to identify trust provisions that impact the calculation of trust accounting income. Another significant preparation problem involves knowing which parts of Form 5227 to complete and which to omit.

Knowing how to read and extract information from the trust agreement is critical in determining what type of split-interest trust the donor created and which information filings are required. For example, a charitable remainder trust never requires filing Form 1041. However, a charitable lead trust or a pooled income fund does necessitate a Form 1041. Knowing the terms and requirements of each type of split-interest trust can help tax professionals avoid penalties for noncompliant filings.

Listen as our experienced panel provides a detailed and comprehensive guide to completing and filing Form 5227, as well as any ancillary filings accompanying split-interest trusts.



  1. Identifying various types of charitable split-interest trusts
  2. Filing Form 5227
  3. Fiduciary accounting requirements
  4. Ancillary forms
  5. Identifying and avoiding common errors
  6. Best practices


The panel will discuss these and other relevant issues:

  • Definitions of the different types of trusts
  • Trusts that require certain sections of Form 5227
  • Computation of annual payments
  • Income-deferral opportunities
  • QBI and tax reform considerations


Bassett, Thomas
Thomas W. Bassett, JD, MBA, CPA, AEP

SVP & Tax Manager, Global Client Tax Services
The Northern Trust Company

Mr. Bassett joined Northern Trust in mid-2022 after 10 years managing the tax team for Commerce Trust Company (St....  |  Read More

Jones, Paul
Paul Jones, CPA

Paul Jones Attorney

Mr. Jones is an attorney and CPA. He focuses his practice on tax law, business law, estate planning, expat tax and...  |  Read More

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