By what date does the trustee of my charitable remainder trust fund need to give me my tax information for 2009?

The reason that you often get a late k1 from a trustee is that the trustee must first get all of the 1099's or K1s from the banks, partnerships or entities, or investments that are held in the trust. Then, and only then can they get the return prepared. Only after the trusts return is finalized, can they send you the information that you need to complete your personal return, As a practical matter, this should not be a problem if your trust contains publicly traded stocks, bonds, and/or cash. If that is the case, contact the trustee early in the tax season and ask if they have received all of the information that they need to complete the return and when you can expect your information from them. Try to get them to commit to a date certain. If your trust contains assets such as partnership or real estate interests, you may want to put your personal return on extension and complete it as soon as possible. This does not constitute tax or legal advice. Be sure to consult your tax and legal advisers regarding the specifics of your legal and tax issues.

The due date for filing Form 5227 for calendar year returns is the following April 15. In addition, by use of Form 8868 the trust can request an automatic 3-month extension of time to file. This request for an automatic extension must be filed by the due date of the return. After receiving an automatic 3-month extension, the trustee can also use Form 8868 to apply for an additional (not automatic) 3-month extension. The request for an additional 3-month extension must be filed by the extended due date of the return. So as you so aptly state, these due dates leave you little time. What you should do however it to discuss with the trustee the underlying investments to make sure that they do not slow up the works. In my practice, I strongly recommend that my trustee invest in no publicly traded or other limited partnerships and that they should have only investments that report timely. This has helped me a lot in getting my trust returns done on a timely basis for my clients. You also want to make sure that it is not the accountant that is waiting until the last minute. (P.S.: I prepare returns for my clients all over the country, so if you want to discuss this in more detail please do not hesitate to contact me.) Hope this helps. If you think this post was helpful, please check the thumbs up (helpful) tab below. Thanks. ********************************************************************************************************* LEGAL DISCLAIMER Mr. Fromm is licensed to practice law in PA with offices in Philadelphia and Montgomery Counties. He can be reached at 215-735-2336 or at the email address listed below. He has received a 9.7 rating from and recently was featured as a 5Star Wealth Manager in the Philadelphia Magazine, November 2009 issue on page 123. Mr. Fromm is ethically required to state that the response herein is not legal advice and does not create an attorney/ client relationship. Also, there are no recognized legal specialties under Pennsylvania law. Any references to a trust, estate or tax lawyer refer only to the fact that Mr. Fromm limits his practice to these areas of the law. These responses are only in the form of legal education and are intended to only provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that if known could significantly change the reply or make such reply unsuitable. Mr. Fromm strongly advises the questioner to confer with an attorney in their state in order to ensure proper advice is received. By using this site you understand and agree that there is no attorney client relationship or confidentiality between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed attorney that practices in the subject area in your jurisdiction, who is familiar with your specific facts and all of the circumstances and with whom you have an attorney client relationship. The law changes frequently and varies from jurisdiction to jurisdiction. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question or omitted from the question. Circular 230 Disclaimer - Any information in this comment may not be used to eliminate or reduce penalties by the IRS or any other governmental agency.