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