Section Jus 403.02 - Non-Testamentary Trust Notification Requirements(a) Within 6 months from the date that the interest of charitable beneficiaries in any New Hampshire-based non-testamentary express trust becomes irrevocable, the trustee of such trust shall submit an initial notice to the charitable trusts unit. Thereafter, so long as no distributions to charitable beneficiaries are required to be made, the trustee shall provide an updated notice every 5 years from the date of the initial notice. The trustee shall provide a final notice at the time distributions to charitable beneficiaries commence. The initial, updated, and final notices shall be submitted on Form NHCT-18 "Notice of Irrevocable Charitable Interest in Trust," effective September 2022, available online at www.doj.nh.gov/charitable-trusts/forms.htm. (b) The trustee shall provide with Form NHCT-18 the following:(1) In the initial notice, a copy of the trust instrument and any amendments. Those portions of the trust instrument and amendments that do not relate to the administration of the trust or that relate to non-charitable beneficial interests may be excluded; and(2) In the final notice, a copy of a statement showing the valuation of the trust if the distribution is based on a formula and documentation to verify the distributions to charitable beneficiaries.(d) If, under the terms of the trust, the trustee shall not complete all distributions to charitable beneficiaries within one year from inception of the trustee's power to make such distributions, the trust must register with the charitable trusts unit by filing Form NHCT-11.(e) Form NHCT-18 shall not be used to notify the charitable trusts unit of testamentary trusts with charitable beneficiaries.N.H. Admin. Code § Jus 403.02
Derived from Volume XLII Number 45, Filed November 10, 2022, Proposed by #13455, Effective 10/7/2022, Expires 10/7/2032