Form 5227 – Fill Out and Use This PDF

Assets

25Cash—non-interest-bearing

26Savings and temporary cash investments

27a	Accounts receivable	27a
b	Less: allowance for doubtful accounts	27b

28Receivables due from officers, directors, trustees, and other disqualified persons (attach schedule)

29a	Other notes and loans receivable	29a
b	Less: allowance for doubtful accounts	29b

30Inventories for sale or use

31Prepaid expenses and deferred charges

32a Investments—U.S. and state government obligations (attach schedule)

bInvestments—corporate stock. Attach schedule c Investments—corporate bonds. Attach schedule

33a Investments—land, buildings, and equipment: basis (attach schedule)

b Less: accumulated depreciation

34Investments—other (attach schedule)

35a Land, buildings, and equipment: basis b Less: accumulated depreciation

36Other assets. Describe ▶

37Total assets. Add lines 25 through 36 (must equal line 47)

Liabilities

38Accounts payable and accrued expenses

39Deferred revenue

40Loans from officers, directors, trustees, and other disqualified persons

41Mortgages and other notes payable. Attach schedule

42Other liabilities. Describe ▶

43Total liabilities. Add lines 38 through 42

Net Assets

44Trust principal or corpus

45a Undistributed income

b Undistributed capital gains

c Undistributed nontaxable income

46Total net assets. Add lines 44 through 45c

47Total liabilities and net assets. Add lines 43 and 46

(a) Beginning-of-	(b) End-of-Year	(c) FMV (see
Year Book Value	Book Value	instructions)

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26

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31

32a

32b

32c

34

36

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43

44

45a

45b

45c

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47

48a Enter the initial fair market value (FMV) of the property placed in the trust

bEnter the total annual annuity amounts for all recipients. Attach schedule showing the amount for each recipient if more than one

48a

48b

49a Enter the unitrust fixed percentage to be paid to the recipients

If there is more than one recipient, attach a schedule showing the percentage of the total unitrust dollar amount payable to each recipient.

bUnitrust amount. Subtract line 43, column (c), from line 37, column (c), and multiply the result by the percentage on line 49a. Do not enter less than -0-

Note. Complete lines 50a through 51b only for those unitrusts whose governing instruments provide for determining required distributions with reference to the unitrust’s income. Otherwise, enter the amount from line 49b on line 52.

50a Trust’s accounting income for 2006

bEnter the smaller of line 49b or line 50a here, and on line 52 on page 3, unless the Caution below applies

Caution: Lines 51a and b need to be completed by those unitrusts whose governing instruments provide for current distributions to make up for any distribution deficiencies in previous years due to the trust income limit. See Regulations section 1.664-3(a)(1)(i)(b)(2). For these trusts, when completing line 52, enter the smaller of line 50a or line 51b.

49a

49b

50a

50b

%

51a Total accrued distribution deficiencies from previous years (see page 8 of the instructions)

bAdd lines 49b and 51a

52Unitrust distributions for 2006

53Carryover of distribution deficiency. Subtract line 52 from line 51b

54Did the trustee change the method of determining the fair market value of the assets? If “Yes,” attach an explanation.

55Were any additional contributions received by the trust during 2006?

If “Yes,” attach a schedule that lists the assets and the date(s) received.

51a

51b

52

53

Yes No

Yes No

1Are the requirements of section 508(e) satisfied either:

●By the language in the governing instrument; or

●By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?

2Are you using this return only to report the income and assets of a segregated amount under section 4947(a)(2)(B)?

Yes No

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2

File Form 4720 if any item is checked in the “Yes” column (to the right), unless an exception applies.

1 Self-dealing (section 4941):
a During 2006, did the trust (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person?	Yes	No

(2)Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

	a disqualified person?	Yes	No
(3)	Furnish goods, services, or facilities to (or accept them from) a disqualified person?	Yes	No
(4)	Pay compensation to, or pay or reimburse the expenses of, a disqualified person?	Yes	No

(5)Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)?

Yes

No

(6)Agree to pay money or property to a government official? (Exception. Check “No” if the trust agreed to make a grant to or to employ the official for a period after termination

of government service, if terminating within 90 days.)

Yes

No

bIf any answer is “Yes” to 1a(1) through (6), did any of the acts fail to qualify under the exceptions described in Regulations sections 53.4941(d)-3 and 4, or in a current Notice regarding disaster assistance (see page 9 of the instructions)?

Organizations relying on a current Notice regarding disaster assistance, check here

▶

cDid the trust engage in a prior year in any of the acts described in 1a, other than excepted acts, that were not corrected before January 1, 2006?

2Does section 4947(b)(3)(A) or (B) apply? (See page 9 of the instructions.) (If “Yes,” check

the “N/A” box in questions 3 and 4.)

Yes

No

3Taxes on excess business holdings (section 4943): N/A

aDid the trust hold more than a 2% direct or indirect interest in any business enterprise

at any time during 2006?

Yes

No

bIf “Yes,” did the trust have excess business holdings in 2006 as a result of (1) any purchase by the trust or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or

(3) the lapse of the 10-, 15-, or 20-year first phase holding period?

Use Schedule C, Form 4720, to determine if the trust had excess business holdings in 2006.

4Taxes on investments that jeopardize charitable purposes (section 4944): N/A

aDid the trust invest during 2006 any amount in a manner that would jeopardize its charitable purpose?

bDid the trust make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before January 1, 2006?

5Taxes on taxable expenditures (section 4945) and political expenditures (section 4955): a During 2006, did the trust pay or incur any amount to:

(1)Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? Yes No

(2)Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?	Yes	No
(3) Provide a grant to an individual for travel, study, or other similar purposes?	Yes	No

(4)Provide a grant to an organization other than a charitable, etc., organization described

in section 509(a)(1), (2), or (3), or section 4940(d)(2)?

Yes

No

(5)Provide for any purpose other than religious, charitable, scientific, literary, or

educational, or for the prevention of cruelty to children or animals?

Yes

No

Yes No

1b

1c

3b

4a

4b

5b If any answer is “Yes” to 5a(1) through (5), did any of the transactions fail to qualify under the exceptions described in Regulations section 53.4945, or in a current Notice regarding disaster assistance (see page 9

of the instructions)?
Organizations relying on a current Notice regarding disaster assistance, check here	▶

cIf the answer is “Yes” to question 5a(4), does the trust claim exemption from the tax because it maintained expenditure responsibility for the grant? (See page 9 of the

instructions.)	Yes	No
If “Yes,” attach the statement required by Regulations section 53.4945-5(d).

6Personal benefit contracts (section 170(f)(10)):

aDid the trust, during the year, receive any funds, directly or indirectly, to pay premiums

on a personal benefit contract?

Yes

No

bDid the trust, during the year, pay premiums, directly or indirectly, on a personal benefit contract? If “Yes” to 6b, file Form 8870 (see instructions).

Yes No

5b

6b

1Does the governing instrument require income in excess of the required annuity or unitrust payments to be paid for charitable purposes?

Yes

No

2Enter the amount of any excess income required to be paid for charitable purposes for 2006

3Enter the amount of annuity or unitrust payments required to be paid to charitable beneficiaries for 2006

4Enter the amount of annuity or unitrust payments required to be paid to private beneficiaries for 2006

2

3

4

1Enter the amount of contributions received during 2006

2Enter the amount required to be distributed for 2006 to satisfy the remainder interest

3Enter any amounts that were required to be distributed to the remainder beneficiary that remain undistributed

4Enter the amount of income required to be paid to private beneficiaries for 2006

5Enter the amount of income required to be paid to the charitable remainder beneficiary for 2006

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