Rev. Rul. 71-237

Pursuant to the authority contained in section 6081(a) of the Internal Revenue Code of 1954, the time for filing exempt organizations return, Form 990, and the Annual report by private foundations, Form 990-AR or equivalent (if required), by a charitable trust that meets the tests contained in the next paragraph is hereby extended until the sooner of:

1. Thirty days after final regulations are published under section 509(a)(3) of the Code; or,

2. Six months from the due date for filing these returns.

The tests which a charitable trust must meet in order to be entitled to this extension are:

1. The trust was created prior to October 9, 1969;

2. The trust was a charitable trust described in section 4947(a)(1) of the Code for the entire taxable year preceding the due date for filing the returns, and was not exempt from Federal income tax under section 501(a) of the Code as an organization described in section 501(c)(3) of the Code at any time during the year;

3. The trust is required by its governing instrument to distribute all of its net income currently to a designated public charity described in section 509(a)(1) or (2) of the Code, or if more than one public charity described in section 509(a)(1) or (2) is designated by the governing instrument, the net income is distributable to each of them in fixed shares pursuant to the terms of the governing instrument; 4. The trustee does not have any discretion to vary the beneficiaries or the amounts payable to any beneficiaries; and

5. None of the trustees, or any other persons who would be foundation managers of the trust within the meaning of section 4946(b) of the Code if the trust were a private foundation within the meaning of section 509(a) of the Code, would be disqualified persons within the meaning of section 4946(a) of the Code (except persons described in section 4946(a)(1)(B)) if the trust were a private foundation.

This extension of time shall not be construed to be a waiver of liability for interest on any amount of tax due and unpaid as provided by law.

Revenue Ruling 71-202, page 397, this Bulletin, is modified to the extent it applies to any extension of time for filing exempt organizations return, Form 990, and the Annual report by private foundations, Form 990-AR or equivalent, by a charitable trust that meets the tests of this Revenue Ruling.

¹ Also released as Technical Information Release 1080, dated May 10, 1971.