There are trust reporting requirements for every trustee. Those requirements vary depending on the circumstances, though. Is the trust revocable or irrevocable? Who are the current beneficiaries? What happens to the trust after the death of current beneficiaries (or, perhaps, the passage of time)?
As we discuss in this podcast episode, Arizona’s trust reporting requirements are fairly specific. They derive from the Uniform Trust Code, which Arizona adopted in 2008.
Does Arizona’s version of the trust code apply to you? It’s a hard question to answer in the abstract. But for people who are governed by the Arizona version of the Uniform Trust Code, our podcast discussion might help explain the applicable requirements.