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Form CHAR001-LT Registration Statement for Charitable Lead Trusts - New York
What Is Form CHAR001-LT?
This is a legal form that was released by the New York State Attorney General - a government authority operating within New York. Check the official instructions before completing and submitting the form.
FAQ
Q: What is a CHAR001-LT Registration Statement?
A: The CHAR001-LT Registration Statement is a form used to register a Charitable Lead Trust in the state of New York.
Q: What is a Charitable Lead Trust?
A: A Charitable Lead Trust is a type of trust where the income generated from the trust assets is donated to a charity for a certain period of time, after which the remaining assets are distributed to beneficiaries.
Q: Who needs to file the CHAR001-LT Registration Statement?
A: The person(s) establishing a Charitable Lead Trust in the state of New York need to file the CHAR001-LT Registration Statement.
Q: What information is required on the registration statement?
A: The registration statement requires information about the trustee(s), the charitable organization receiving the income, the beneficiaries, and the terms of the trust.
Q: What is the deadline for filing the registration statement?
A: The registration statement should be filed with the New York State Department of Law, Charities Bureau prior to or within 30 days of the establishment of the Charitable Lead Trust.
Q: Are there any ongoing reporting requirements for the Charitable Lead Trust?
A: Yes, the Charitable Lead Trust is required to submit an annual report to the New York State Department of Law, Charities Bureau.
Q: Can I make changes to the Charitable Lead Trust after filing the registration statement?
A: Yes, changes or amendments to the Charitable Lead Trust can be made by filing a written notice with the New York State Department of Law, Charities Bureau.
Q: What happens if I fail to comply with the registration and reporting requirements?
A: Failure to comply with the registration and reporting requirements may result in penalties and/or legal consequences.
Form Details:
- Released on January 1, 2018;
- The latest edition provided by the New York State Attorney General;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a printable version of Form CHAR001-LT by clicking the link below or browse more documents and templates provided by the New York State Attorney General.
