Timely filing of IRS Form 5227 (Split-Interest Trust Information Return) is critical to ensure your trust remains compliant and avoids unnecessary penalties. The IRS sets clear deadlines by which trustees must submit this annual return, depending on
whether the trust follows a calendar year or a fiscal year.
Form 5227 Filing Deadline for 2024 Tax Year
- Calendar-Year Trusts: Must file by April 15, 2025.
- Fiscal-Year Trusts: Must file by the 15th day of the 4th month after the fiscal year ends.
- Example: If a trust’s fiscal year closes on June 30, 2025, the due date will be October 15, 2025.
Note: Even if no tax is owed, trustees are still required to file Form 5227 by the deadline.
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Extension of Time to File
Trustees who need more time to complete the return can apply for an extension:
- File Form 8868 (Application for Extension of Time to File an Exempt Organization Return) on or before the original due date.
- An extension grants an additional 6 months to file Form 5227.
- For calendar-year trusts, this extends the deadline from April 15, 2025, to October 15, 2025.
Remember: The extension applies only to filing, not to any payments or tax-related obligations linked to the trust.
Why Meeting the Deadline Matters
- Avoid Penalties: Late filing can result in significant daily fines, which increase for larger trusts.
- Protect Compliance: Filing on time demonstrates proper administration and protects the trust’s charitable deductions.
- Trustee Responsibility: The IRS holds trustees directly responsible for timely and accurate filing.
Best Practices for Trustees
- Mark important filing dates on your compliance calendar well in advance.
- Gather trust financial statements and distribution records early to avoid last-minute delays.
- If unsure about filing requirements, consult a tax professional to confirm whether additional forms apply.
- Consider e-filing to ensure faster submission, tracking, and confirmation.
Key Takeaway
Form 5227 must be filed annually and on time by trustees of split-interest trusts. Whether your trust follows a calendar or fiscal year, knowing the exact due date—and requesting an extension when needed—helps you stay penalty-free and IRS-compliant.
