Internal Revenue Code:Sec. 6034. Returns by certain trusts

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Contents


Location in Internal Revenue Code


     TITLE 26 - INTERNAL REVENUE CODE
      Subtitle F - Procedure and Administration
       CHAPTER 61 - INFORMATION AND RETURNS
        Subchapter A - Returns and Records
         PART III - INFORMATION RETURNS
          Subpart A - Information Concerning Persons Subject to Special
                Provisions
         

Statute

    Sec. 6034. Returns by certain trusts

    (a) Split-Interest Trusts.--Every trust described in section 
4947(a)(2) shall furnish such information with respect to the taxable 
year as the Secretary may by forms or regulations require.
    (b) Trusts Claiming Certain Charitable Deductions.--
            (1) In general.--Every trust not required to file a return 
        under subsection (a) but claiming a deduction under section 
        642(c) for the taxable year shall furnish such information with 
        respect to such taxable year as the Secretary may by forms or 
        regulations prescribe, including--
                    (A) the amount of the deduction taken under 
                section 642(c) within such year,
                    (B) the amount paid out within such year which 
                represents amounts for which deductions under section 
                642(c) have been taken in prior years,
                    (C) the amount for which such deductions have been 
                taken in prior years but which has not been paid out at 
                the beginning of such year,
                    (D) the amount paid out of principal in the 
                current and prior years for the purposes described in 
                section 642(c),
                    (E) the total income of the trust within such year 
                and the expenses attributable thereto, and
                    (F) a balance sheet showing the assets, 
                liabilities, and net worth of the trust as of the 
                beginning of such year.
            (2) Exceptions.--Paragraph (1) shall not apply to a trust 
        for any taxable year if--
                    (A) all the net income for such year, determined 
                under the applicable principles of the law of trusts, is 
                required to be distributed currently to the 
                beneficiaries, or
                    (B) the trust is described in section 
                4947(a)(1).

Sources

    (Aug. 16, 1954, ch. 736, 68A Stat. 742; Pub. L. 91-172, title I,
    Sec. 101(j)(32)-(34), Dec. 30, 1969, 83 Stat. 529; Pub. L. 94-455,
    title XIX, Sec. 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub.
    L. 96-603, Sec. 1(d)(1), Dec. 28, 1980, 94 Stat. 3504; Pub. L.
    99-514, title XV, Sec. 1501(d)(1)(C), Oct. 22, 1986, 100 Stat.
    2740.)
 

Miscellaneous

                                 AMENDMENTS

       2006 - Pension Protection Act of 2006 (P.L. 109-280)
Section 1201(b) Modifications Relating to Information Returns by Certain 
Trusts.--
            (1) Returns.--Section 6034 <<NOTE: 26 USC 6034.>> (relating 
        to returns by trusts described in section 4947(a)(2) or claiming 
        charitable deductions under section 642(c)) is amended to read 
        as follows:
``SEC. 6034. RETURNS BY CERTAIN TRUSTS.

    ``(a) Split-Interest Trusts.--Every trust described in section 
4947(a)(2) shall furnish such information with respect to the taxable 
year as the Secretary may by forms or regulations require.
    ``(b) Trusts Claiming Certain Charitable Deductions.--
            ``(1) In general.--Every trust not required to file a return 
        under subsection (a) but claiming a deduction under section 
        642(c) for the taxable year shall furnish such information with 
        respect to such taxable year as the Secretary may by forms or 
        regulations prescribe, including--
                    ``(A) the amount of the deduction taken under 
                section 642(c) within such year,
                    ``(B) the amount paid out within such year which 
                represents amounts for which deductions under section 
                642(c) have been taken in prior years,
                    ``(C) the amount for which such deductions have been 
                taken in prior years but which has not been paid out at 
                the beginning of such year,
                    ``(D) the amount paid out of principal in the 
                current and prior years for the purposes described in 
                section 642(c),
                    ``(E) the total income of the trust within such year 
                and the expenses attributable thereto, and
                    ``(F) a balance sheet showing the assets, 
                liabilities, and net worth of the trust as of the 
                beginning of such year.
            ``(2) Exceptions.--Paragraph (1) shall not apply to a trust 
        for any taxable year if--
                    ``(A) all the net income for such year, determined 
                under the applicable principles of the law of trusts, is 
                required to be distributed currently to the 
                beneficiaries, or
                    ``(B) the trust is described in section 
                4947(a)(1).''.
            (4) Clerical amendment.--The item in the table of sections 
        for subpart A of part III of subchapter A of chapter 61 relating 
        to section 6034 is amended to read as follows:
``Sec. 6034. Returns by certain trusts.''.
    
      1986 - Subsec. (c). Pub. L. 99-514 substituted ''section
    6652(c)'' for ''section 6652(d)''.
      1980 - Pub. L. 96-603, Sec. 1(d)(1)(D), substituted ''section
    4947(a)(2)'' for ''section 4947(a)'' in section catchline.
      Subsec. (a). Pub. L. 96-603, Sec. 1(d)(1)(A), substituted
    ''section 4947(a)(2)'' for ''section 4947(a)''.
      Subsec. (b). Pub. L. 96-603, Sec. 1(d)(1)(B), (C), substituted in
    heading ''Exceptions'' for ''Exception'' and in text inserted
    provision that this section not apply in the case of a trust
    described in section 4947(a)(1).
      1976 - Subsec. (a). Pub. L. 94-455 struck out ''or his delegate''
    after ''Secretary''.
      1969 - Subsec. (a). Pub. L. 91-172, Sec. 101(j)(32), (33),
    inserted, in section catchline and in subsec. (a), reference to
    trusts described in section 4947(a), and, in par. (1), struck out
    provisions requiring the separate showing of the amount of
    deduction paid out, and the amount permanently set aside for
    charitable, etc., purposes.
      Subsec. (c). Pub. L. 91-172, Sec. 101(j)(34), added subsec. (c).

                      EFFECTIVE DATE OF 1986 AMENDMENT
2006 - Pension Protection Act of 2006 (P.L. 109-280)
Section 1201(c) Effective Dates.--
            (2) <<NOTE: 26 USC 6034 note.>> Subsection (b).--The 
        amendments made by subsection (b) shall apply to returns for 
        taxable years beginning after December 31, 2006.

                      EFFECTIVE DATE OF 1986 AMENDMENT
      Amendment by Pub. L. 99-514 applicable to returns the due date
    for which (determined without regard to extensions) is after Dec.
    31, 1986, see section 1501(e) of Pub. L. 99-514, set out as an
    Effective Date note under section 6721 of this title.
                      EFFECTIVE DATE OF 1980 AMENDMENT
      Amendment by Pub. L. 96-603 applicable to taxable years beginning
    after Dec. 31, 1980, see section 1(f) of Pub. L. 96-603, set out as
    a note under section 6033 of this title.
                      EFFECTIVE DATE OF 1969 AMENDMENT
      Amendment by Pub. L. 91-172 applicable to taxable years beginning
    after Dec. 31, 1969, see section 101(k)(2)(B) of Pub. L. 91-172,
    set out as an Effective Date note under section 4940 of this title.
 

References

                   SECTION REFERRED TO IN OTHER SECTIONS
      This section is referred to in sections 6104, 6652 of this title.
 

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