Managing tax obligations for estates and trusts can present significant challenges, particularly with annual regulatory updates and shifting deadlines. The 2024 tax year has introduced several important changes that executors and trustees must understand to maintain compliance.

A comprehensive understanding of Form 1041 and its accompanying schedules—including A, B, G, J, and K-1—is essential for proper filing. This guide outlines key deadlines, filing locations, and requirements to help ensure adherence to current tax laws.

Filing Deadlines

The Internal Revenue Service has established distinct deadlines based on the fiscal structure of the estate or trust:

  • Calendar-year estates and trusts must file Form 1041 with Schedule K-1 by April 15, 2025 for the 2024 tax year
  • Fiscal-year entities must submit their returns by the 15th day of the fourth month following the close of their tax year

Filing Locations

All domestic estate and trust returns, including charitable trusts and split-interest trusts, should be mailed to one of the following addresses:

  • Department of the Treasury, Internal Revenue Service, Kansas City, MO 64999-0048
  • Department of the Treasury, Internal Revenue Service, Kansas City, MO 64999-0148

Filing Requirements

The fiduciary (or one of multiple co-fiduciaries) must file Form 1041 for a domestic estate if any of the following conditions apply:

  • Gross income for the tax year reaches $600 or more
  • The estate has nonresident alien beneficiaries
  • The estate held any qualified opportunity fund (QOF) investments during the year, requiring attachment of Form 8997

Domestic estates are defined as those not considered foreign under U.S. tax law. Fiduciaries of foreign estates must file Form 1040-NR (U.S. Nonresident Alien Income Tax Return) rather than Form 1041.

Determining Domestic Trust Status

A trust qualifies as domestic if it meets both of these criteria:

  • A U.S. court maintains primary oversight of trust administration
  • One or more U.S. residents have authority to control substantial trust decisions

Additional clarification regarding judicial supervision and control standards can be found in Treasury Regulations section 301.7701-7.

Understanding these provisions enables fiduciaries to manage estate and trust tax obligations effectively while maintaining compliance with evolving regulations.