### Question
How is the term applicable multi-beneficiary trust defined?


### Answer
The term **applicable multi-beneficiary trust** is defined in *26 U.S.C. § 401* as the following:

> a trust—


(I) which has more than one beneficiary,


(II) all of the beneficiaries of which are treated as designated beneficiaries for purposes of determining the distribution period pursuant to this paragraph, and


(III) at least one of the beneficiaries of which is an eligible designated beneficiary described in subclause (III) or (IV) of subparagraph (E)(ii)

#### Citation:
  - *26 U.S.C. § 401*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter D-Deferred Compensation, Etc. > PART I-PENSION, PROFIT-SHARING, STOCK BONUS PLANS, ETC. > Subpart A-General Rule**

