Yes, a CRT must file the following forms:
IRS Form 5227, Split-Interest Trust Information Return
Filed with the Internal Revenue Service. This form is due by April 15 and may be extended to July 15 and October 15.
IRS Form Schedule K-1, Beneficiary’s Share of Income, Deductions, Credits, etc.
Mailed each year to the trust’s income beneficiaries. It must be mailed by the due date of Form 5227.
IRS Form 8282, Donee Information Return
This form is required to be filed if the CRT sells an unmarketable asset within three years of the contribution date and the donor files Form 8283, Non-cash Charitable Contributions with his or her individual income tax return.
IRS Form 4720, Return of Certain Excise Taxes Under Chapters 41 and 42 of the Internal Revenue Code
This form is required to be filed if the CRT must pay the excise tax on unrelated business taxable income or engages in a prohibited act of self-dealing.
State Trust Income Tax Forms
Some states require that a CRT file an income tax return with the state taxing authority, even though the trust is exempt from tax. In addition, two states, New Jersey and Pennsylvania, do not recognize a CRT as a tax-exempt trust. However, not all states require that a CRT file a state trust income tax return.
State Charitable Registration Forms
Some states require that a CRT register its existence with the state Attorney General and file an annual report with the state Attorney General.