Fillable Registration and Inventory Form for Trusts (Michigan)

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Registration and Inventory Form for Trusts (Michigan)

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Michigan Department of Attorney General
Supervision of Trustees for Charitable Purposes Act
Registration and Inventory Form for Trusts
Who should file this form? See the optional flow chart on page 5. However, generally, the
following trusts should file:
• Trusts with a current charitable interest (including charitable lead trusts and living or
revocable trusts that are now irrevocable);
• Charitable remainder trusts without a current charitable interest if one of the following
is true:
the charitable remainder beneficiaries have not been irrevocably named;
a charitable remainder beneficiary may be controlled by the grantor, testator,
executor, trustee, or a member of the grantor's or testator's family.
Who should not file this form?
• Trusts with no charitable interest;
• Trusts that are revocable;
• Trusts with remote, contingent charitable interests (e.g., a charity will only receive a
distribution if the grantor’s spouse and children all predecease the grantor).
(Corporations and unincorporated associations should not use this form. See form CTS-05 available on
our website at www.michigan.gov/agcharity.)
Some answers in the following sections require a citation to the page and section of the trust or will.
Please provide a citation in the following format: Cite: p. 3, sec. 5; 4
th
Amendment - p. 2, sec. 3
Legal name of trust
All other names used by trust
Fiscal year end
(mm/dd)
State established Date established
Part I - General Information
Employer identification number (EIN)
Contact person name Email
Part 2 - Contact Information
Telephone
Street address (if different)
Mailing address
CTS - 06
Authority: 1961 PA 101
Penalty: Civil
1
Michigan Department of Attorney General
Registration and Inventory for Trusts
Enter names and addresses. If additional room is necessary, attach a sheet.
A.
B.
990/990-EZ
990-PF 1041 1041-A 5227 Other
Part 4 - IRS Status and Return
IRS status. Check box for appropriate status:
The trust has received 501(c)(3) tax exempt status. Provide a copy of the IRS determination letter.
The trust has applied, or will apply for 501(c)(3) tax exempt status. Provide a copy of the IRS determination
letter when it is received.
The trust will not obtain tax exempt status.
IRS Return. Check box for type of return filed with IRS.
A. How was this trust created?
Trust agreement. Provide a copy of the trust agreement.
Court order. Provide a copy of the order and other relevant court filings.
Last will and testament. Provide a copy of the will and complete the following:
i. Has a file been opened in a county probate court? . . . . . . . . . . . . . . . . . . .
If Yes, enter the county and probate file number.
County File number
B.
Nature of trust (choose one)
i.
ii.
________________________________________________________________________
Cite:
iii.
A living trust (such as a will substitute) that is now irrevocable and has terminated or is terminating.
NOTE: If the trust referenced in iii. or iv. above was made irrevocable upon the death of the grantor or other
person(s), identify the individual(s) and date(s) of death:
Name: Date:
A trust established wholly, or in part, for charitable purposes to operate in perpetuity without an end date.
A trust established solely for charitable purposes that will terminate, or has terminated, on a
predeterm
ined date or event, such as a charitable lead trust.
Describe the termination provision:
A charitable remainder trust (including annuities and unitrusts) that is irrevocable and required to register.
Yes No
2
iv.
Michigan Department of Attorney General
Registration and Inventory for Trusts
A.
Check all that apply.
B.
City, State Type
$ %
$ %
$ %
$ %
$ %
$ %
$ %
$ %
C.
Distributions will/may be made at some later date. Explain and cite:
Distributions are perpetual and made periodically.
Other:
Part 6 - Charitable Purpose Beneficiaries
What is the charitable purpose of this trust? Cite:
It benefits a specific charity or charities named in the instrument. Complete item B below.
It may support any 501(c)(3) purpose organization. Go to item C below.
It supports a specific charitable purpose (e.g., alleviate hunger, scholarships). Describe the purpose, then go to
item C below.
It creates another charitable trust or foundation, to benefit one or more charities or a charitable purpose. Please
describe. Please note that you must separately register any charitable trust or foundation that maintains or
reports separate financial information from the trust you are currently registering.
Other:
Charitable Beneficiaries. List all current, future, and contingent charitable beneficiaries by name, city, and state.
Name of Charity
Interest
When will distributions be made to all charitable beneficiaries?
All distributions have been made. Provide receipts for the distributions to charity and a final accounting that
details all fees and other expenses.
A.
IRS return. Account statement (only if trustee is a financial institution).
Probate court account.
Audited financial statements.
B.
Trust has not yet completed a fiscal period. (Complete Part 8.)
Check this box if you are submitting a final accounting for the trust.
Other:
Part 7 - Financial Report
Financial report. Provide a copy of the most recent financial report and check the box for the type of report being
provided. It must include a complete statement of receipts and disbursements and have a balance sheet. If the IRS
return does not completely account for all receipts and disbursements or have a balance sheet, provide a financial
report in another format.
3
-
-
-
-
-
-
-
-
Michigan Department of Attorney General
Registration and Inventory for Trusts
Cash and cash equivalents
Stock
Bonds
Real estate
Other assets (describe)
Part 8 - List of Assets and Liabilities
Enter date of valuation:
$
$
$
$
Net assets
$
Complete the following
only
if a financial report described in Part 7 is not
provided.
Total assets
$
Total liabilities
$
$
Date
If this is a trust that is terminating (or has terminated), provide an accounting and receipts for distributions to
charitable beneficiaries made to date.
Part 9 - Attachments
Check list of documents to provide with this form:
Creating document such as trust agreement or will, plus all amendments or codicils.
All court orders affecting trust.
If tax exempt, copy of IRS determination letter.
Financial report or listing of assets and liabilities. See Parts 7 and 8.
Part 10 - Certification
Under penalty of perjury, I certify that I am authorized to sign this document and that to the best of my knowledge and
belief the information provided, including all accompanying documents, is true, correct, and complete.
Signature
Print name
Date
Title
Return the completed form:
By email: ct_email@michigan.gov
By mail:
Mich
igan Department of Attorney General
Charitable Trust Section
PO Box 30214
Lansing, MI 48909
This is a public record, copies of which are sent, upon request, to any interested person.
Revised 12/10/15
Contact information:
Telephone: 517-335-7571
Fax: 517-241-7074
Website: www.michigan.gov/agcharity
4
Enter as negative number
___________________________
0.00
0.00
NO NO NO NO
YES
YES YES YES
NO NO
YES YES
NO NO
YES YES
Do you need to register as a charitable trust?
Note: Complete this only if you are unsure whether you must register or submit documents
to the Attorney General's Charitable Trust Section at this time.
Was the
trust only
created to
benefit
private (not
charitable)
interests and
persons?
Can the trust
agreement be
changed?
Is any
charity
currently
receiving
money or
property
from the
trust?
Have all charities
already received
their share(s) of
money or property
from trust?
Will a charity receive
money or property
ONLY IF some unlikely
event occurs?
Do not register or submit any
documents to the AG at this time; but in
the future, the trust may need to
register if the answers to these
questions change. Please re-check this
chart later.
Register! Check the appropriate
box leading here, then fill out the
rest of this form and submit it
(along with the required
documents) to the AG.
Do not register or send
documents to the AG at this
time, but this trust will need
to register if or when it gives
money or property to any
charity in the future.
Can the (1)
trustee, (2) person
that created the
trust, OR (3)
members of either
of their families
decide to give
money or property
to a charity not
named in the trust
agreement?
Is the (1) trustee, (2)
person that created the
trust, OR (3) members of
either of their families
on the board of directors
for the charity that will
receive money or
property from the trust?
Is any non-charity
currently
receiving money
or property from
the trust?
Register! Check the
appropriate box leading
here, then fill out the
rest of this form and
submit it (along with the
required documents) to
the AG.
5
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Registration and Inventory Form for Trusts (Michigan)

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Completed 5 November 2020

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