1041 Filing Deadline

[Corduroy Frog]

A trust was set up for children upon death, and the maker died in May, 2008, activating the trust.

The trust had a calendar year ended December 31, 2008, and I filed the first ever return for this trust this winter. According to TTB, SB10-2, the trust thus has a calendar year and the 1041 is due on April 15.

Received notice that the trust was liquidated by consent among all parties on May 31, 2009. Does their final "year" now end on May 31, or December 31? Obviously the concern is whether the 1041 is due September 15, 2009 or April 15, 2010??

[JG EA]

A trust was set up for children upon death, and the maker died in May, 2008, activating the trust.

The trust had a calendar year ended December 31, 2008, and I filed the first ever return for this trust this winter. According to TTB, SB10-2, the trust thus has a calendar year and the 1041 is due on April 15.

Received notice that the trust was liquidated by consent among all parties on May 31, 2009. Does their final "year" now end on May 31, or December 31? Obviously the concern is whether the 1041 is due September 15, 2009 or April 15, 2010??

I'll try to answer:

TTB quote: "15th day of 4th month after end of estate’s tax year.**"

And in the 1041 instructions it says that the return is due in 4th month after the end of a fiscal years' tax return.

The instructions further state that "If the return is for a fiscal year or a short tax year, fill in the tax year space".

So, if the end should be on the return because of some legal requirement, then it seems logical that it would be due Sep 15th. Automatic extension on 7004 is 5 mo.