Form CTS-06 "Registration and Inventory Form for Trusts" - Michigan

What Is Form CTS-06?

This is a legal form that was released by the Michigan Department of Attorney General - a government authority operating within Michigan. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on December 10, 2015;
  • The latest edition provided by the Michigan Department of 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 fillable version of Form CTS-06 by clicking the link below or browse more documents and templates provided by the Michigan Department of Attorney General.

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Download Form CTS-06 "Registration and Inventory Form for Trusts" - Michigan

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CTS - 06
Michigan Department of Attorney General
Authority: 1961 PA 101
Supervision of Trustees for Charitable Purposes Act
Penalty: Civil
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.
th
Please provide a citation in the following format: Cite: p. 3, sec. 5;
4
Amendment - p. 2, sec. 3
Part I - General Information
Legal name of trust
Employer identification number (EIN)
All other names used by trust
Fiscal year end
State established
Date established
(mm/dd)
Part 2 - Contact Information
Contact person name
Telephone
Email
Mailing address
Street address (if different)
1
CTS - 06
Michigan Department of Attorney General
Authority: 1961 PA 101
Supervision of Trustees for Charitable Purposes Act
Penalty: Civil
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.
th
Please provide a citation in the following format: Cite: p. 3, sec. 5;
4
Amendment - p. 2, sec. 3
Part I - General Information
Legal name of trust
Employer identification number (EIN)
All other names used by trust
Fiscal year end
State established
Date established
(mm/dd)
Part 2 - Contact Information
Contact person name
Telephone
Email
Mailing address
Street address (if different)
1
Michigan Department of Attorney General
Registration and Inventory for Trusts
Part 3 - Trustees
Enter names and addresses. If additional room is necessary, attach a sheet.
Part 4 - IRS Status and Return
IRS status. Check box for appropriate status:
A.
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.
B.
990-PF
1041
1041-A
5227
Other
990/990-EZ
Part 5 - Trust Information
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:
Yes
No
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)
A trust established wholly, or in part, for charitable purposes to operate in perpetuity without an end date.
i.
ii.
A trust established solely for charitable purposes that will terminate, or has terminated, on a
predetermined date or event, such as a charitable lead trust.
Describe the termination provision:
________________________________________________________________________
Cite:
iii.
A charitable remainder trust (including annuities and unitrusts) that is irrevocable and required to register.
iv.
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:
2
Michigan Department of Attorney General
Registration and Inventory for Trusts
Part 6 - Charitable Purpose Beneficiaries
Cite:
A.
What is the charitable purpose of this trust?
Check all that apply.
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:
B.
Charitable Beneficiaries. List all current, future, and contingent charitable beneficiaries by name, city, and state.
Name of Charity
City, State
Type
Interest
$
%
-
$
%
-
$
%
-
$
%
-
$
%
-
$
%
-
$
%
-
$
%
-
C.
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.
Distributions will/may be made at some later date. Explain and cite:
Distributions are perpetual and made periodically.
Other:
Part 7 - Financial Report
A.
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.
IRS return.
Account statement (only if trustee is a financial institution).
Probate court account.
Trust has not yet completed a fiscal period. (Complete Part 8.)
Audited financial statements.
Other:
B.
Check this box if you are submitting a final accounting for the trust.
3
Michigan Department of Attorney General
Registration and Inventory for Trusts
Part 8 - List of Assets and Liabilities
Complete the following only if a financial report described in Part 7 is not provided.
Enter date of valuation:
Date
$
Cash and cash equivalents
$
Stock
$
Bonds
$
Real estate
$
Other assets (describe)
___________________________
$
Total assets
0.00
$
Total liabilities
Enter as negative number
$
Net assets
0.00
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.
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 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
Date
Print name
Title
Return the completed form:
By email: ct_email@michigan.gov
By mail:
Contact information:
Michigan Department of Attorney General
Telephone:
517-373-1152
Charitable Trust Section
Fax:
517-241-7074
PO Box 30214
Website:
www.michigan.gov/agcharity
Lansing, MI 48909
This is a public record, copies of which are sent, upon request, to any interested person.
Revised 12/10/15
4
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.
Is any
Was the
Have all charities
Can the trust
charity
trust only
already received
agreement be
NO
NO
currently
NO
NO
created to
their share(s) of
changed?
receiving
benefit
money or property
money or
private (not
from trust?
property
charitable)
from the
interests and
trust?
persons?
YES
YES
YES
YES
Do not register or submit any
Register! Check the appropriate
documents to the AG at this time; but in
box leading here, then fill out the
the future, the trust may need to
rest of this form and submit it
register if the answers to these
(along with the required
questions change. Please re-check this
documents) to the AG.
chart later.
Register! Check the
Is any non-charity
Will a charity receive
appropriate box leading
currently
money or property
NO
NO
here, then fill out the
receiving money
ONLY IF some unlikely
rest of this form and
or property from
event occurs?
the trust?
submit it (along with the
required documents) to
the AG.
YES
YES
Can the (1)
Is the (1) trustee, (2)
Do not register or send
trustee, (2) person
person that created the
documents to the AG at this
that created the
trust, OR (3) members of
time, but this trust will need
trust, OR (3)
either of their families
to register if or when it gives
NO
NO
members of either
on the board of directors
money or property to any
of their families
for the charity that will
charity in the future.
decide to give
receive money or
money or property
property from the trust?
to a charity not
named in the trust
agreement?
YES
YES
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