Subdivision 1. Deadlines; extensions. A charitable trust subject to sections 501B.33 to 501B.45 must file with the attorney general a copy of its federal tax or information return, including all schedules and amendments, submitted by the charitable trust to the Internal Revenue Service for the period covered in the trust's accounting year last completed. If the charitable trust does not file a federal tax or information return, it shall file a balance sheet and a statement of income and expenses for the accounting year last completed.
Subd. 1a. Extensions. The information required by this section must be filed annually on or before the 15th day of the fifth month following the close of the charitable trust's taxable year as established for federal tax purposes. The time for filing may be extended by application to the attorney general, for up to six months, provided the applicant has requested an extension to file its federal tax return under section 6081 of the Internal Revenue Code of 1986. A charitable trust that files the information required under this subdivision with the attorney general is not required to file the same information with the commissioner of revenue.
Subd. 2. Suspension of filing. The attorney general may suspend the filing requirements under subdivision 1 for a particular charitable trust for a reasonable, specifically designated time on written application of the trustee filed with the attorney general. If the filing requirements are suspended, the attorney general shall file in the register of charitable trusts a written statement that the interests of the beneficiaries will not be prejudiced by the suspension and that the information required by this section is not required for proper supervision by the attorney general's office.
Subd. 3. Filing fee. A $25 filing fee shall be paid by every charitable trust filing the information required by this section.
1989 c 340 art 1 s 30; 1995 c 235 s 15; 1996 c 471 art 13 s 22
Structure Minnesota Statutes
Chapters 500 - 515B — Property And Property Interests
Chapter 501B — Charitable Trusts
Section 501B.31 — Charitable Trusts.
Section 501B.32 — Private Foundations; Charitable Trusts; Split-interest Trusts.
Section 501B.34 — Charitable Trusts; Supervision By Attorney General.
Section 501B.35 — Definitions.
Section 501B.36 — Registration And Reporting.
Section 501B.37 — Register Of Trusts And Trustees.
Section 501B.38 — Information Filing.
Section 501B.39 — Public Inspection Of Records.
Section 501B.41 — Breach Of Trust; Proceedings To Secure Compliance.
Section 501B.42 — Contrary Provisions Of Instrument Invalid.
Section 501B.43 — Cost Of Investigations And Proceedings; Registration And Filing Fees.
Section 501B.44 — Immunity Of Charitable Trusts.
Section 501B.45 — Sale Of Banks Owned By Charitable Trusts.
Section 501B.46 — Petition For Court Order To Sell, Mortgage, Or Lease Real Property Held In Trust.
Section 501B.48 — When Petition May Be Granted.
Section 501B.49 — Notice Of Hearing.
Section 501B.51 — Order Upon Petition; Execution Of Transaction.
Section 501B.52 — Report Of Agreement For Confirmation.
Section 501B.53 — Order Of Confirmation; Contents And Subsequent Procedures; Distribution Of Assets.
Section 501B.54 — Legal Effect Of Deed, Mortgage, Or Lease Made Under Section 501b.53.