Pooled Income Funds

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Pooled Income Funds

If you are filing for a pooled income fund, attach a statement to support the following:

  • The calculation of the yearly rate of return,

  • The computation of the deduction for distributions to the beneficiaries, and

  • The computation of any charitable deduction.

See section 642 and the regulations thereunder for more information.

You do not have to complete Schedules A or B of Form 1041.

Also, you must file Form 5227, Split-Interest Trust Information Return, for the pooled income fund. However, if all amounts were transferred in trust before May 27, 1969, or if an amount was transferred to the trust after May 26, 1969, for which no deduction was allowed under any of the sections listed under section 4947(a)(2), then Form 5227 does not have to be filed.

Note.

Form 1041-A is no longer filed by pooled income funds.