Get California 541 A Form

The California 541 A form is a tax return specifically designed for trusts that accumulate charitable amounts. This form helps trustees report charitable deductions and distributions made during the taxable year. If you're a trustee needing to fill out this form, click the button below to get started!

Structure

The California Form 541-A is an essential document for trustees managing charitable trusts, specifically designed to report the accumulation of charitable amounts. This form is required for trusts claiming deductions under Internal Revenue Code Section 642(c) or for split-interest trusts. It must be filed for calendar years and is due on April 16 of the following year. The form captures vital information, including the trust's name, federal employer identification number, and the details of the trustee(s). Trustees must answer key questions regarding the trust's residency status and whether it has filed a return on Form 541 for the same year. Additionally, the form includes sections for reporting income, deductions, and distributions related to charitable purposes. It also requires a balance sheet that reconciles the trust's assets and liabilities, ensuring transparency and compliance with California tax laws. By completing Form 541-A, trustees fulfill their responsibilities while also contributing to the charitable missions that their trusts support.

California 541 A Preview

TAXABLE YEAR

		CALIFORNIA FORM
2000	TRUST ACCUMULATION OF CHARITABLE AMOUNTS	541-A

For calendar years only.

Name of trust

Federal employer identification number (FEIN)

Name of trustee(s)

Address of each trustee (number and street, including suite number or rural route)

PMB no.

City, town, or post office

State

ZIP Code

This return must be filed on or before April 16, 2001. Mail to:

FRANCHISE TAX BOARD PO BOX 942840 SACRAMENTO CA 94240-0000.

DO NOT ATTACH TO FORM 541

(If more space is needed, please attach a separate list.)


ANSWER THESE QUESTIONS:
1 Date trust was created				M	M		D		D		Y		Y	Y		Y		5	Have you filed a return on Form 541 for the year covered by this
2 Is any trustee a resident of California?									Yes		No								return?	Yes	No
3 Was the grantor or creator of the trust a resident of California during the																		6	Do any of the amounts shown on the face of this return differ from the
	taxable year of the trust?				Yes		No												corresponding amounts reported on federal Form 1041-A?
4 Name and address of grantor or creator							____________________________												Yes (attach a schedule explaining the differences)					No
	____________________________________________________________																	7	Are you required to file federal Form 990-T for the unrelated business
	____________________________________________________________																		and/or lease indebtedness income?			Yes	No
PART I			Income and Deductions. See instructions for Form 541. If total income is $25,000 or less, skip line 1 through line 8 and enter total income on line 9.
		1	Interest income		. . . . . .	. .	. . .	.	. . . .	. . .	. .	. . .	. .	. . . . .	. . .	. .	. .	. . . .	. . . . . . . . . . . .	. . . . . . .	. . . . . . . . . . .	1
		2	. . .Dividends . . . .	. . .	. . . . . .	. .	. . .	.	. . . .	. . .	. .	. . .	. .	. . . . .	. . .	. .	. .	. . . .	. . . . . . . . . . . .	. . . . . . .	. . . . . . . . . . .	2
		3	Business income or (loss). Attach federal Schedule C or C-EZ (Form 1040)																. . . . . . . . . . . .	. . . . . . .	. . . . . . . . . . .	3
Income		4	Capital gain or (loss). Attach Schedule D (541)								. .	. . .	. .	. . . . .	. . .	. .	. .	. . . .	. . . . . . . . . . . .	. . . . . . .	. . . . . . . . . . .	4
		5	. . . . . .Rents, royalties, partnerships, LLCs, other estates and trusts, etc. Attach federal Schedule E (Form 1040)																			5
		6	. .Farm income or (loss). Attach federal Schedule F (Form 1040)													. .	. .	. . . .	. . . . . . . . . . . .	. . . . . . .	. . . . . . . . . . .	6
		7	.Ordinary gain or (loss). Attach Schedule D-1								. .	. . .	. .	. . . . .	. . .	. .	. .	. . . .	. . . . . . . . . . . .	. . . . . . .	. . . . . . . . . . .	7
		8	Other income. State nature of income						. . . . . . . . ._________________________________________________													8
		9	Total income. Add line 1 through line 8						. . .	. . .	. .	. . .	. .	. . . . .	. . .	. .	. .	. . . .	. . . . . . . . . . . .	. . . . . . .	. . . . . . . . . .	9
		10	Interest	. . .	. . . . . .	. .	. . .	.	. . . .	. . .	. .	. . .	. .	. . . . .	. . .	. .	. .	. . . .	. . . . . . . . . . . .	. . . . . . .	. . . . . . . . . . .	10
Deductions		11	. . .Taxes	. . .	. . . . . .	. .	. . .	.	. . . .	. . .	. .	. . .	. .	. . . . .	. . .	. .	. .	. . . .	. . . . . . . . . . . .	. . . . . . .	. . . . . . . . . . .	11
		12	Charitable deduction. Itemize by charitable purpose; include payee’s name and address.
			See instructions for Part II and Part III						. . .	. . .	. .	. . .	. .	. . . . .	. . .	. .	. .	. . . .	. . . . . . . . . . . .	. . . . . . .	. . . . . . . . . .	12
		13	. . .Trustee fees . . .	. . .	. . . . . .	. .	. . .	.	. . . .	. . .	. .	. . .	. .	. . . . .	. . .	. .	. .	. . . .	. . . . . . . . . . . .	. . . . . . .	. . . . . . . . . . .	13
		14	Attorney, accountant, and return preparer fees																			14
		14	Attorney, accountant, and return preparer fees								. .	. . .	. .	. . . . .	. . .	. .	. .	. . . .	. . . . . . . . . . . .	. . . . . . .	. . . . . . . . . . .	14
		15	. . . . . . .Other deductions. Attach schedule							. . .	. .	. . .	. .	. . . . .	. . .	. .	. .	. . . .	. . . . . . . . . . . .	. . . . . . .	. . . . . . . . . . .	15
PART II Distributions of Income Set Aside in Prior Taxable Years for Charitable Purposes. See instructions.
16		Accumulated income set aside in prior taxable years for which a deduction was claimed under IRC Section 642(c) . . .																				16

17Income set aside in prior taxable years for which a deduction was claimed under IRC Section 642(c) and which

	was distributed during the current taxable year. Itemize by charitable purpose; include payee’s name and address.
	a _____________________________________________________________________	17a
	b _____________________________________________________________________	17b
	c _____________________________________________________________________	17c
18	Total. Add line 17a through line 17c	. . . . . . . . . . . . . . . . . . . . . . 18
19	Balance. Subtract line 18 from line 16	. . . . . . . . . . . . . . . . . . . . . . . 19
20	Income set aside during the current taxable year for which a deduction was claimed under IRC Section 642(c)
	(included in Part I, line 12)	. . . . . . . . . . . . . . . . . . . . . . . 20
21	Carryover. Add line 19 and line 20	. . . . . . . . . . . . . . . . . . . . . . 21
PART III Distributions of Principal for Charitable Purposes
22	Principal distributed in prior taxable years for charitable purposes	. . . . . . . . . . . . . . . . . . . . . . 22
23	Principal distributed during the current taxable year for charitable purposes. Itemize by charitable
	purpose; include payee’s name and address.
	a _____________________________________________________________________	23a
	b _____________________________________________________________________	23b
	c _____________________________________________________________________	23c
24	Total. Add line 23a through line 23c	. . . . . . . . . . . . . . . . . . . . . . 24
	541A00109	Form23456789012345678901541-A C1 000 Side 1

PART IV		Balance Sheet. If line 9 is $25,000 or less, complete only line 38, line 42, and line 45. If books of account do not agree, please reconcile all differences.
PART IV
					ASSETS					(a) Beginning-of-Year Book Value			(b) End-of-Year Book Value
	Cash — non-interest bearing
25	Cash — non-interest bearing					. . . .	. . . . . . .	. . . . . . . . . .	25
26	. . . . . . . . . . . . . . . . . . . .Savings and temporary cash investments					. . . .	. . . . . . .	. . . . . . . . . .	26
27	a	. . . . . . . . . . .Accounts receivable			. . . . . . . . . . . . . . . . . . . . . .	27a
	. . . . . . . . . . . . . . . . . .b Less: allowance for doubtful accounts					27b
28	. . . . . . . . . . . . . . . . . . . . . . . . . . .a Notes and loans receivable					28a
	. . . . . . . . . . . . . . . . . .b Less: allowance for doubtful accounts					28b
29	Inventories for sale or use			. . . . . . . .	. . . . . . . . . . . . . . . . . . . . . . .	. . . .	. . . . . . .	. . . . . . . . . .	29
30	. . . . . . . . . . . . . . . . . . . . .Prepaid expenses and deferred charges					. . . .	. . . . . . .	. . . . . . . . . .	30
31	. . . . . . . . . . . . . . . . .Investments — U.S. and state government obligations. Attach schedule								31
	Investments — corporate stock. Attach schedule
32	Investments — corporate stock. Attach schedule					. . . .	. . . . . . .	. . . . . . . . . .	32
33	. . . . . . . . . . . . .Investments — corporate bonds. Attach schedule					. . . .	. . . . . . .	. . . . . . . . . .	33
34	a	Investments — land, buildings, and equipment: basis				34a
	b	. . . . . . . . . . . . . . . . . . . . . . .Less: accumulated depreciation				34b
	Investments — other. Attach schedule
35	Investments — other. Attach schedule					. . . .	. . . . . . .	. . . . . . . . . .	35
36	a	Land, buildings, and equipment (trade or business): basis . .				36a
	b	. . . . . . . . . . . . . . . . . . . . . . .Less: accumulated depreciation				36b

37	Other assets. Describe.			_____________________________________________________					37
38	. . . . . . . . . . . . . . . . . . .Total assets. Add line 25 through line 37					. . . .	. . . . . . .	. . . . . . . . . .	38
					LIABILITIES
39	Accounts payable and accrued expenses					. . . . .	. . . . . .	. . . . . . . . . .	39
40	. . . . . . . . . . .Mortgages and other notes payable. Attach schedule					. . . .	. . . . . . .	. . . . . . . . . .	40
41	Other liabilities. Describe.			___________________________________________________					41
42	. . . . . . . . . . . . . . . . .Total liabilities. Add line 39 through line 41					. . . .	. . . . . . .	. . . . . . . . . .	42
					NET ASSETS
43 Trust principal or corpus					. . . . . . . . . . . . . . . . . . . . . . .	. . . .	. . . . . . .	. . . . . . . . . .	43
. . . . . . . . . . . . . . . . . . . . . . . . . .44 Undistributed income and profits						. . . .	. . . . . . .	. . . . . . . . . .	44
. . . . . . . . . . . . . . . . . . . .45 Total net assets. Add line 43 and line 44						. . . .	. . . . . . .	. . . . . . . . . .
. . . . . . . .46 Total liabilities and net assets. Add line 42 and line 45						. . . .	. . . . . . .	. . . . . . . . . .	46

			Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is
Please			true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Sign										Date	Trustee’s SSN/FEIN
Here			___________________________________________________________
			Signature of trustee or officer representing trustee
								Date			Paid preparer’s SSN/PTIN
Paid			Preparer’s							Check if self-
Paid			Preparer’s							employed
Preparer’s			signature							employed
Preparer’s											FEIN
Use Only			Firm’s name (or yours, if								FEIN
Use Only			Firm’s name (or yours, if									-
			self-employed) and address									-

Side 2 Form 541-A C1 2000

541A00209

For Privacy Act Notice, get form FTB 1131.

Instructions for FTB Form 541-A

Trust Accumulation of Charitable Amounts

General Information

In general, California tax law conforms to the Internal Revenue Code (IRC) as of

January 1, 1998. However, there are continuing differences between California and federal tax law. California has not conformed to most of the changes made to the IRC by the federal Internal Revenue Service Restructuring and Reform Act of 1998 (Public Law 105-206) and has not conformed to any of the changes made by the Tax and Trade Relief Extension Act of 1998 (Public Law 105-277), the Miscellaneous Trade and Technical Corrections Act of 1999 (Public

Law 106-36), and the Ticket to Work and Work Incentives Improvement Act of 1999 (Public Law 106-170).

A Purpose

Use Form 541-A to report the charitable information required by Revenue and Taxation Code (R&TC) Section 18635.

BWho Must File

A trustee must file a calendar year Form 541-A for a trust that claims a charitable or other deduction under IRC Section 642(c) or for a charitable or split- interest trust. However, Form 541-A is not required for any taxable year if the trustee is required by the terms of the governing instrument and applicable local law to distribute currently all of the income of the trust for such year.

A charitable trust is a trust which:

•Is not exempt from taxation under R&TC Section 23701d; and

•Has all the unexpired interests devoted to charitable purposes described in IRC Section 170(c); and

•Had a charitable contribution deduction allowed for all the unexpired interests under the R&TC.

A split-interest trust is a trust which:

•Is not exempt from taxation under R&TC Section 23701d; and

•Has some of the unexpired interests devoted to one or more charitable purposes described in IRC Section 170(c); and

•Has amounts in trust for which a chari- table contributions deduction was allowed under the R&TC. Pooled income funds (IRC Section 642(c)(5)), charitable remainder annuity trusts (IRC

Section 664(d)(1)), and remainder unitrusts (IRC Section 664(d)(2)), are considered split-interest trusts for which the trustee must file Form 541-A for the taxable year.

Simple trusts which received a letter from the Franchise Tax Board (FTB) granting exemption from tax under R&TC Section 23701d are considered to be corporations for tax purposes. They may be required to file Form 199, California Exempt Organization Annual Information Return. See the instructions for that form.

Nonexempt charitable trusts, described in IRC Section 4947(a)(1), must file Form 199.

Private Mailbox (PMB) No.

If you lease a mailbox from a private business rather than a PO box from the United States Postal Service, enter your PMB number in the field labeled “PMB no.”

CWhen to File

File Form 541-A on or before April 16, 2001. However, if you need additional time to file, California grants an automatic six-month extension. A request form is not required to obtain this extension.

DWhere to File

Mail Form 541-A to:

FRANCHISE TAX BOARD PO BOX 942840 SACRAMENTO CA 94240-0000

Specific Instructions

Part II and Part III

Describe in detail on an attached statement the purpose for which charitable disburse- ments were made from income set aside in prior taxable years and amounts which were paid out of principal for charitable purposes. Examples of appropriate descriptions are: payments for nursing service, laboratory construction, fellowships, or assistance to indigent families (not simply charitable, educational, religious, or scientific).

Part IV

If the balance sheet does not agree with the books of account, all differences must be reconciled in an attached statement.

Form 541-A Instructions 2000

➤ PDF File

Document Data

Fact Name	Details
Purpose of Form 541-A	This form is used to report charitable information required under California's Revenue and Taxation Code Section 18635.
Who Must File	A trustee must file this form if claiming a charitable deduction under IRC Section 642(c) or for charitable trusts. Exceptions apply if the trust must distribute all income currently.
Filing Deadline	Form 541-A must be filed by April 16, 2001. An automatic six-month extension is available without a request form.
Governing Laws	This form is governed by California's Revenue and Taxation Code, specifically Section 18635, and conforms to the Internal Revenue Code as of January 1, 1998.

How to Use California 541 A

Completing the California 541 A form is an important step for trustees managing charitable trusts. This form is required to report specific financial information regarding the trust's income, deductions, and distributions for charitable purposes. After filling out the form, it must be submitted to the Franchise Tax Board by the specified deadline.

Gather Necessary Information: Collect all relevant details about the trust, including its name, federal employer identification number (FEIN), and the names and addresses of all trustees.
Complete the Identification Section: Fill in the name of the trust, the FEIN, and the names and addresses of the trustees in the designated fields.
Answer Preliminary Questions: Respond to the questions regarding the trust's creation date, residency of trustees, and whether a return has been filed for the year.
Report Income: In Part I, list all sources of income such as interest, dividends, business income, and total income on the appropriate lines.
Detail Deductions: Enter deductions in Part I, including taxes, charitable deductions, and trustee fees. Ensure to itemize the charitable deductions with payee names and addresses.
Complete Parts II and III: Provide information on distributions of income set aside for charitable purposes and distributions of principal for charitable purposes. Itemize these amounts as required.
Fill Out the Balance Sheet: In Part IV, report assets and liabilities. If total income is $25,000 or less, complete only the specified lines.
Sign and Date the Form: The trustee must sign and date the form, affirming the accuracy of the information provided.
Mail the Completed Form: Send the completed form to the Franchise Tax Board at the specified address before the filing deadline.

Key Facts about California 541 A

What is the purpose of the California 541 A form?

The California 541 A form is used to report charitable amounts accumulated by a trust. Specifically, it is required for trusts that claim a charitable deduction under federal tax law, particularly under IRC Section 642(c). This form helps ensure that the trust meets its reporting obligations regarding charitable contributions and distributions. It provides the Franchise Tax Board with essential information about the trust's charitable activities and financial status.

Who is required to file the California 541 A form?

A trustee must file the California 541 A form if the trust claims a charitable deduction or if it is a charitable or split-interest trust. However, if the governing instrument and applicable local law require the trustee to distribute all income currently, then filing the form is not necessary for that taxable year. Understanding these requirements is crucial for compliance and to avoid potential penalties.

When is the California 541 A form due?

The form must be filed on or before April 16 of the year following the taxable year being reported. For example, if reporting for the year 2000, the form would be due on April 16, 2001. If additional time is needed, California allows an automatic six-month extension without requiring a request form. This flexibility can help alleviate some of the pressure associated with tax filing deadlines.

What information is required on the California 541 A form?

The form requires various pieces of information, including the name of the trust, the federal employer identification number, and the names and addresses of the trustees. It also includes questions about the residency status of the trustees and the grantor, as well as whether any amounts reported differ from those on federal forms. Additionally, the form necessitates detailed financial information regarding income, deductions, and distributions related to charitable purposes.

What should I do if my trust's income is $25,000 or less?

If the total income of the trust is $25,000 or less, the form simplifies the filing process. In this case, the trustee can skip several lines in the income section and directly enter the total income on line 9. This provision is designed to streamline the reporting process for smaller trusts, making compliance easier and more efficient.

Where do I send the completed California 541 A form?

Once completed, the California 541 A form should be mailed to the Franchise Tax Board at the following address: PO Box 942840, Sacramento, CA 94240-0000. Ensuring that the form is sent to the correct address is essential to avoid delays in processing and potential issues with compliance.

Common mistakes

Filling out the California 541-A form can be a daunting task, and many people inadvertently make mistakes that can lead to delays or complications. One common error is not providing complete information about the trust. It is essential to include the full name of the trust, the federal employer identification number (FEIN), and the names and addresses of all trustees. Omitting any of this information can result in processing issues.

Another frequent mistake involves the residency status of the trustees. Many filers forget to indicate whether any trustee is a resident of California. This question is critical, as it can affect the tax obligations of the trust. Answering this question incorrectly or leaving it blank can lead to unnecessary complications.

People often overlook the requirement to file a return on Form 541 for the year covered by the 541-A form. Marking "No" when the trust has indeed filed can create confusion. It is crucial to ensure that this question accurately reflects the trust's filing status.

Additionally, discrepancies between the amounts reported on the 541-A form and those on the federal Form 1041-A are frequently ignored. If any amounts differ, the form requires an explanation. Failing to attach a schedule detailing these differences can lead to delays in processing and potential audits.

Many individuals also make the mistake of neglecting to consider whether they need to file federal Form 990-T for unrelated business income. This oversight can result in penalties or additional tax obligations. It is important to assess the trust's activities carefully to determine if this filing is necessary.

When it comes to reporting income and deductions, another common error is skipping lines or miscalculating totals. If total income is $25,000 or less, filers should skip certain lines and enter total income directly on line 9. However, some people mistakenly fill in all lines, leading to confusion and potential errors in reporting.

In Part II, when detailing distributions of income set aside for charitable purposes, individuals often fail to provide adequate descriptions of the charitable purposes. Simply stating "charitable" without specifics can lead to questions from the Franchise Tax Board. Clear and detailed descriptions are necessary to justify deductions.

Moreover, when completing the balance sheet in Part IV, many filers forget to reconcile differences between the balance sheet and the books of account. If discrepancies exist, they must be explained in an attached statement. Ignoring this requirement can result in the rejection of the form.

Lastly, signatures and dates are critical components that are sometimes overlooked. Both the trustee and any preparer must sign and date the form. Missing signatures can lead to the form being deemed incomplete, further delaying processing.

By being aware of these common mistakes, individuals can take steps to ensure their California 541-A form is completed accurately and submitted without unnecessary complications. Attention to detail and careful review can make a significant difference in the filing process.

Documents used along the form

The California Form 541-A is often accompanied by several other documents and forms that help provide additional information or fulfill specific requirements related to trust taxation. Below is a list of common forms and documents that may be used alongside the California 541-A form.

California Form 541: This is the main tax return form for California fiduciaries. It reports income, deductions, and distributions for estates and trusts.
Federal Form 1041: This form is used for reporting income, deductions, and distributions for estates and trusts at the federal level. It is crucial for compliance with IRS requirements.
Federal Form 990-T: This form is required if the trust has unrelated business taxable income. It reports income from activities not related to the trust's exempt purpose.
California Form 199: This form is for nonexempt charitable trusts and is used to report annual information to the California Franchise Tax Board.
Schedule A (Form 541): This schedule details the income and deductions of the trust, providing a breakdown of various income sources and expenses.
Schedule D (Form 541): This schedule is used to report capital gains and losses from the sale of assets held by the trust.
Schedule E (Form 541): This schedule reports income from partnerships, S corporations, and other pass-through entities that the trust may have an interest in.
Schedule C (Form 1040): If the trust has business income, this schedule reports profit or loss from business operations.
Trust Accounting Records: Detailed records of all transactions, including income received and distributions made, are essential for accurately completing tax forms and maintaining compliance.

Each of these documents plays a vital role in ensuring that the trust meets its tax obligations and maintains transparency in its financial activities. Properly managing and filing these forms can help avoid potential issues with tax authorities.

Similar forms

California Form 541: This form is used for reporting the income, deductions, and tax liability of a trust. Like Form 541-A, it is specifically for trusts and focuses on the financial activities of the trust during the taxable year. Both forms require detailed information about the trust's income and distributions, emphasizing the importance of accurate reporting.
Federal Form 1041: This form is the federal equivalent for reporting income, deductions, and tax liability of estates and trusts. Similar to Form 541-A, it requires detailed financial information and focuses on the income generated by the trust or estate. Both forms aim to ensure compliance with tax obligations related to trust activities.
Form 990: This form is used by tax-exempt organizations to provide the IRS with information about their activities, governance, and finances. Like Form 541-A, it emphasizes transparency and accountability in financial reporting. Both forms require organizations to disclose their income, expenses, and distributions, especially regarding charitable activities.
California Form 199: This form is for California exempt organizations, including charitable trusts. It is similar to Form 541-A in that it requires detailed financial reporting and focuses on the organization’s activities and compliance with state tax laws. Both forms ensure that organizations maintain proper records and fulfill their tax obligations.

Dos and Don'ts

When filling out the California Form 541-A, there are specific actions that can help ensure accuracy and compliance. Below is a list of dos and don'ts to consider.

Do provide accurate and complete information about the trust, including the name and address of each trustee.
Do ensure that all income and deductions are reported correctly, especially if they differ from federal forms.
Do file the form by the deadline of April 16, 2001, to avoid penalties.
Do include any necessary schedules or attachments that provide additional details about charitable distributions.
Don't forget to check if a federal Form 990-T is required for unrelated business income.
Don't leave any questions unanswered. All sections must be completed as applicable.
Don't submit the form without reviewing it for errors or inconsistencies.
Don't attach the form to Form 541; it must be filed separately.

Misconceptions

Misconception 1: The California 541 A form is only for large trusts.

This is not true. The form is designed for any trust that claims a charitable deduction under specific sections of the Internal Revenue Code. Even smaller trusts that meet the requirements must file this form.

Misconception 2: If a trust is charitable, it doesn’t need to file any tax forms.

While charitable trusts may have different filing requirements, they are not exempt from all tax filings. If a trust is not exempt under California law, it still needs to file the 541 A form to report charitable deductions.

Misconception 3: The deadline for filing Form 541 A is the same as the federal tax deadline.

Although they are close, the California 541 A form has a specific deadline of April 16. It's crucial to be aware of this date to avoid penalties.

Misconception 4: You can attach Form 541 A to Form 541.

This is incorrect. The instructions clearly state that Form 541 A should not be attached to Form 541. It must be submitted separately to ensure proper processing.

Misconception 5: Filing Form 541 A is optional for all trusts.

This is misleading. If a trust claims a charitable deduction under IRC Section 642(c), it is required to file Form 541 A. Ignoring this obligation can lead to complications and potential penalties.

Key takeaways

Purpose of the Form: California Form 541-A is used to report charitable information required by the Revenue and Taxation Code Section 18635.
Who Must File: A trustee must file this form for a trust claiming a charitable deduction under IRC Section 642(c) or for a charitable or split-interest trust.
Filing Deadline: The form must be filed on or before April 16, 2001. An automatic six-month extension is available without a request form.
Mailing Address: Send the completed form to the Franchise Tax Board at PO Box 942840, Sacramento, CA 94240-0000.
Income Reporting: If total income is $25,000 or less, report the total income directly on line 9, skipping lines 1 through 8.
Charitable Disbursements: Provide detailed descriptions of the purposes for which charitable disbursements were made from income set aside in prior taxable years.
Balance Sheet Requirements: If discrepancies exist between the balance sheet and the books of account, reconcile all differences in an attached statement.