M2RT: Resident Trust Questionnaire (2024)
Minnesota · Minnesota DOR · Used for tax years 2024
2024 Minnesota Schedule M2RT, Resident Trust Questionnaire, reports a trust’s connections to Minnesota, including its trustees, beneficiaries, assets, and administration. It helps determine whether a statutory resident trust has sufficient minimum connections to Minnesota for con
Who files this form
Complete and file 2024 Schedule M2RT if your trust meets Minnesota’s statutory definition of a resident trust but you believe it may not have sufficient minimum connections to Minnesota for due process purposes.
The statutory resident trust definition applies to irrevocable trusts created during the grantor’s life and irrevocable trusts created by a will.
What you'll need
Have the trust’s name, federal ID number, and Minnesota ID number ready. Depending on which questions apply, you will also need:
- Names and addresses of trustees, other fiduciaries, representatives, beneficiaries, and settlors or grantors, including both Minnesota and non-Minnesota parties. Use residential addresses for beneficiaries.
- Descriptions of Minnesota assets and their fair market values on the applicable dates.
- Details of trust administration performed in Minnesota.
- Information about governing law, beneficiary rights, powers retained by settlors or grantors, and Minnesota court involvement.
The following attachments are optional, but may be requested during review:
- Trust agreements and other governing legal documents, including all amendments.
- Minnesota court orders showing continuing supervision or another existing relationship with the trust.
- A breakdown of distributions to each beneficiary during the tax year.
- A breakdown of allocations of trust principal or income during the tax year.
- An explanation of the reason for a change in residency status.
How to file
- Enter the trust’s name and ID numbers on Schedule M2RT.
- Check every applicable box in questions 1 through 10 for tax year 2024 and provide the requested details. Attach additional information if the space is not sufficient.
- If you meet the requirements to file Schedule M2RT, check both Statutory Resident and Due Process Nonresident on page 1 of Form M2.
- Complete Form M2 as a nonresident. Use Schedule M2NM to determine the non-Minnesota income or loss to include on Form M2, lines 2 and 7.
The supplied text does not give a mailing address or e-filing directions.
Common mistakes
- Checking question 10 along with another main question. Check question 10 only if questions 1 through 9 do not apply and their boxes are blank.
- Leaving out non-Minnesota parties. Where names and addresses are requested, include both Minnesota and non-Minnesota parties as directed.
- Omitting details because the space is too small. Include the additional information as an attachment.
- Missing the required Form M2 checkboxes. If you must file Schedule M2RT, check both Statutory Resident and Due Process Nonresident on Form M2.
- Assuming another state’s choice-of-law provision settles the governing-law question. The instructions note that Minnesota law can govern a trust in some circumstances even when the trust agreement designates another state’s law.
Questions people ask
What does Schedule M2RT help determine?
It helps determine whether a statutory resident trust has sufficient minimum connections to Minnesota for due process purposes. It focuses on the minimum-connection step of the due process analysis.
Does part-year Minnesota residency count?
Yes. The residency questions for trustees and other fiduciaries, beneficiaries, and settlors or grantors include both full-year and part-year Minnesota residents.
Which value should I report for Minnesota assets?
Report fair market value at the earliest of these events: sale of the asset, termination of the trust, or the end of the tax year. Question 3 includes assets owned at any point during the taxable year.
What counts as trust administration in Minnesota?
Examples include investing or distributing trust assets, conducting trust business, handling litigation or administrative proceedings, keeping records, preparing and filing tax returns, and making fiduciary decisions about these activities.
Must I attach the trust agreement?
A copy of the trust agreement and its amendments is an optional attachment. It may be requested when Schedule M2RT is reviewed.