Instructions for IRS Form 5316 Application for Group or Pooled Trust Ruling

Instructions for IRS Form 5316 Application for Group or Pooled Trust Ruling

This document contains official instructions for IRS Form 5316 , Application for Group or Pooled Trust Ruling - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury. An up-to-date fillable IRS Form 5316 is available for download through this link.

FAQ

Q: What is IRS Form 5316?
A: IRS Form 5316 is an application for a ruling on a group or pooled trust.

Q: Who needs to use IRS Form 5316?
A: Individuals or entities that want to establish a group or pooled trust need to use IRS Form 5316.

Q: What is a group or pooled trust?
A: A group or pooled trust is a trust that is established and maintained by a non-profit organization for the benefit of individuals with disabilities.

Q: What is the purpose of IRS Form 5316?
A: The purpose of IRS Form 5316 is to request a ruling from the IRS on whether a group or pooled trust meets the requirements for tax exemption.

Q: What information is required on IRS Form 5316?
A: IRS Form 5316 requires detailed information about the trust, the non-profit organization, and the individuals who will benefit from the trust.

Q: Is there a deadline for submitting IRS Form 5316?
A: There is no specific deadline for submitting IRS Form 5316, but it is recommended to submit the form well in advance of when the trust will be established.

Q: Are there any fees associated with IRS Form 5316?
A: Yes, there is a user fee that must be paid when submitting IRS Form 5316. The fee amount can be found in the instructions for the form.

Q: How long does it take to get a ruling on IRS Form 5316?
A: The timeframe for receiving a ruling on IRS Form 5316 can vary, but it typically takes several months for the IRS to process the application.

Q: What should I do if my application for a ruling is denied?
A: If your application for a ruling on IRS Form 5316 is denied, you can request a conference with the IRS Appeals Office to discuss the denial and potentially seek resolution.

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Instruction Details:

  • This 3-page document is available for download in PDF;
  • Actual and applicable for filing 2023 taxes;
  • Complete, printable, and free.

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