Charitable Trust Registration
by Janice Kerkove, Attorney
October 2009 -- Creating a charitable trust is a good way to support important causes as well as save money on taxes. If you have created or intend to create any trust that has a charitable component (wholly charitable trust, charitable remainder trust, charitable lead trust), you should be aware of a new Iowa law that imposes new registration and reporting requirements on the Trustee.
Effective July 1, 2009, existing and newly created trusts that have a charitable component must register with the Iowa Attorney General. Thereafter, the charitable trusts must file annual reports with the Iowa Attorney General. These new registration and reporting requirements only apply to charitable trusts – they do not apply to charitable foundations or nonprofit corporations.
You can find additional information on the Iowa Attorney General’s website. Please contact our office at 319-363-0101 (Cedar Rapids) or 319-466-1511 (Iowa City) if you have questions or require assistance in meeting these new registration and reporting requirements for your charitable trust.