§ 6034. Returns by certain trusts

• (a) Every trust described in section 4947(a)(2) shall furnish such information with respect to the taxable year as the Secretary may by forms or regulations require.
• (b)
  • (1) Every trust not required to file a return under subsection (a) but claiming a deduction under section 642(c) for the taxable year shall furnish such information with respect to such taxable year as the Secretary may by forms or regulations prescribe, including—
    • (A) the amount of the deduction taken under section 642(c) within such year,
    • (B) the amount paid out within such year which represents amounts for which deductions under section 642(c) have been taken in prior years,
    • (C) the amount for which such deductions have been taken in prior years but which has not been paid out at the beginning of such year,
    • (D) the amount paid out of principal in the current and prior years for the purposes described in section 642(c),
    • (E) the total income of the trust within such year and the expenses attributable thereto, and
    • (F) a balance sheet showing the assets, liabilities, and net worth of the trust as of the beginning of such year.
  • (2) Paragraph (1) shall not apply to a trust for any taxable year if—
    • (A) all the net income for such year, determined under the applicable principles of the law of trusts, is required to be distributed currently to the beneficiaries, or
    • (B) the trust is described in section 4947(a)(1).