541-B: Charitable Remainder and Pooled Income Trusts (2025)
California · FTB · Used for tax years 2025
California Form 541-B is a tax return for charitable remainder and pooled income trusts, with trust types listed that also include charitable lead trusts. It reports income, capital gains and losses, deductions, asset values, and distributions for charitable purposes.
What you'll need
Have the information requested on the form ready:
- The trust’s name, FEIN, address, creation date, and trustee names.
- Income and deduction amounts, beginning- and end-of-year book values, and fair market values of assets.
- Distribution details, including recipient information, amounts, and, for charitable distributions, dates, charitable purposes, and descriptions of assets distributed.
- Donor names and addresses. For an initial return or additional assets contributed in 2025, also provide descriptions of donated assets, their fair market values on the donation dates, and the donation dates.
Attach these documents when applicable:
- Federal Schedule C (Form 1040) for business income or loss, Schedule E (Form 1040) for rents, royalties, partnerships, other estates and trusts, and Schedule F (Form 1040) for farm income or loss.
- Schedule D-1 for ordinary gain or loss. Use Schedule D (541) for the capital gain or loss and capital loss carryover entries.
- Schedules supporting other allowable deductions and the balance-sheet items marked “Attach schedule.”
- For a charitable remainder trust, a copy of the trust instrument with its initial return, a copy of any amendment made during the year, and a signed early termination agreement if one was signed by all parties in the final year.
- For a charitable remainder unitrust, an accounting income schedule when Part VII, line 5a applies, and an explanation if the trustee changed the method of determining asset fair market values.
Questions people ask
Which income and deduction sections do all trusts complete?
All trusts complete Part I, Sections A through D. Section E is only for IRC Section 664 trusts.
What if the trust had unrelated business taxable income?
Answer “Yes” in Part II and file a separate Form 541 to report the tax due or overpaid tax.
Which parts apply specifically to charitable remainder annuity trusts and unitrusts?
Part VI is only for an IRC Section 664 charitable remainder annuity trust (CRAT). Part VII is only for an IRC Section 664 charitable remainder unitrust (CRUT).
Is donor information required if no additional assets were contributed in 2025?
Yes. If this is not the initial return and no additional assets were contributed in 2025, Schedule A, Part IV directs you to complete only column (a), the donor’s name and address. If it is the initial return or additional assets were contributed, complete the full schedule.
Who signs Form 541-B?
The trustee or an officer representing the trustee signs and dates the return. The form also has a separate signature area for a paid preparer.