SAP Workflow AdministratorEvonik Corporation. A diligent and detail-oriented SAP Workflow Administrator and Accounts Payable Invoice Verification clerk with demonstrated experience in problem solving, accomplishing assignments on large multi-faceted projects, and creating various accounts payable training materials.
Form 1041 Complex Trusts - General Information. 1  A complex trust is any trust that does not qualify as a simple trust. 2  A complex trust can make charitable contributions.  A complex trust can distribute amounts allocated to the corpus of the trust (generally not shown on Form 1041).
If a trustee mishandles the income and fails to pay it out properly, the trust can become a complex trust, at least for that year. An irrevocable trust can be either a simple or a complex trust. The best way to know for sure is to ask your attorney, or better yet, ask the trust's accountant. A revocable living trust is taxed to the grantor and has no tax reporting requirements. As such, the issue of it being a simple trust or a complex trust never comes up. In either case, I wouldn't worry about the tax designation. It really has very little effect on the beneficiary anyway.