OMB No. 1545-0192 
                                         Tax on Accumulation Distribution of Trusts 
Form 4970 
Department of the Treasury                               Attach to beneficiary’s tax return.                                                 2023
Internal Revenue Service                         Go to www.irs.gov/Form4970 for the latest information.                                     Attachment 
                                                                                                                                            Sequence No. 178
A     Name(s) as shown on return                                                                                                   B   Social security number 

C     Name and address of trust                                                                                                    D   Employer identification number 

E     Type of trust (see instructions)   F   Beneficiary’s date of birth     G   Enter the number of trusts from which you received 
       Domestic Foreign                                                          accumulation distributions in this tax year .   .  . .   .
Part I  Average Income and Determination of Computation Years 
1      Amount  of  current  distribution  that  is  considered  distributed  in  earlier  tax  years  (from  Schedule  J 
       (Form 1041), line 37, column (a))  .        .   . . .             . . . . . . .    .  . .   . .  .    . .             .   .  .     1 
2      Distributions of income accumulated before you were born or reached age 21  .                 .  .    . .             .   .  .     2 
3      Subtract line 2 from line 1           . . . .   . . .             . . . . . . .    .  . .   . .  .    . .             .   .  .     3 
4      Taxes imposed on the trust on amounts from line 3 (from Schedule J (Form 1041), line 37, column (b))  .                            4 
5      Total (add lines 3 and 4)  .          . . . .   . . .             . . . . . . .    .  . .   . .  .    . .             .   .  .     5 
6      Tax-exempt interest included on line 5 (from Schedule J (Form 1041), line 37, column (c))  .                          .   .  .     6 
7      Taxable part of line 5 (subtract line 6 from line 5)  .             . . . . . .    .  . .   . .  .    . .             .   .  .     7 
8      Number of trust’s earlier tax years in which amounts on line 7 are considered distributed               .             .   .  .     8 
9      Average annual amount considered distributed (divide line 3 by line 8)  .             . .     9 
10     Multiply line 9 by 25% (0.25)           . . .   . . .             . . . . . . .    .  . .     10 
11     Number of earlier tax years to be taken into account (see instructions) .             . .   . .  .    . .             .   .  .     11 
12     Average amount for recomputing tax (divide line 7 by line 11). Enter here and in each column on line 15                            12 
13     Enter  your  taxable  income  before              (a) 2022                (b) 2021          (c) 2020                      (d) 2019        (e) 2018
       this distribution for the 5 immediately 
       preceding tax years. 
Part II Tax Attributable to the Accumulation Distribution 
                                                                                               (a)                           (b)             (c) 
14     Enter the amounts from line 13, eliminating the highest and lowest 
       taxable income years            . .   . . . .   . . .             . . . . . .      14 

15     Enter amount from line 12 in each column .        . .             . . . . . .      15 

16     Recomputed taxable income (add lines 14 and 15)  .                  . . . . .      16 

17     Income tax on amounts on line 16  .         .   . . .             . . . . . .      17 

18     Income tax before credits on line 14 income  .      .             . . . . . .      18 

19     Additional tax before credits (subtract line 18 from line 17)  .          . .      19 

20     Tax credit adjustment  .          .   . . . .   . . .             . . . . . .      20 

21     Subtract line 20 from line 19  .        . . .   . . .             . . . . . .      21 

22     Alternative minimum tax adjustments  .          . . .             . . . . . .      22 

23     Combine lines 21 and 22  .            . . . .   . . .             . . . . . .      23 
24     Add columns (a), (b), and (c), line 23 .    .   . . .             . . . . . . .    .  . .   . .  .    . .             .   .  .     24 
25     Divide the line 24 amount by 3.0  .       . .   . . .             . . . . . . .    .  . .   . .  .    . .             .   .  .     25 
26     Multiply the amount on line 25 by the number of years on line 11  .           .    .  . .   . .  .    . .             .   .  .     26 
27     Enter the amount from line 4  .         . . .   . . .             . . . . . . .    .  . .   . .  .    . .             .   .  .     27 
28     Partial tax attributable to the accumulation distribution (subtract line 27 from line 26) (If zero or 
       less, enter -0-)    .     .     . .   . . . .   . . .             . . . . . . .    .  . .   . .  .    . .             .   .  .     28 
For Paperwork Reduction Act Notice, see the instructions.                                    Cat. No. 13180V                                 Form 4970 (2023)

Form 4970 (2023)                                                                                                                                         Page 2
General Instructions                                   Line 2. Enter any amount from line 1 that            accumulation distribution. If the distribution is 
                                                       represents UNI of a domestic trust accumulated       from a foreign trust, see sections 667(d) and   
Section references are to the Internal Revenue         before you were born or reached age 21.              904(f)(4) for special rules.
Code unless otherwise noted.                           However, if the multiple trust rule applies, see the Attach the proper form for any credit you 
Future Developments                                    instructions for line 4.                             refigure. The amount determined for items on 
For the latest information about developments          Line 4. Multiple trust rule. If you received         this line is limited to tax law provisions in effect 
related to Form 4970 and its instructions, such        accumulation distributions from two or more          for those years involved.
as legislation enacted after they were published,      other trusts that were considered to have been       Line 22. For each year entered in Part II, columns 
go to www.irs.gov/Form4970.                            made in any of the earlier tax years in which the    (a)–(c), use and attach that year’s Form 4626, 
                                                       current accumulation distribution is considered      Alternative Minimum Tax—Corporations (for 
Purpose of Form                                        to have been made, don’t include on line 4 the       years prior to 2018); Form 6251, Alternative 
A beneficiary of certain domestic trusts (see          taxes attributable to the current accumulation       Minimum Tax—Individuals; or Schedule I (Form 
Who Must File below) uses Form 4970 to figure          distribution considered to have been distributed     1041), Alternative Minimum Tax—Estates and 
the partial tax on accumulation distributions          in the same earlier tax year(s).                     Trusts, to recompute the AMT for that year. 
under section 667. The fiduciary notifies the             For this special rule, only count as trusts those Show any change in the AMT below the bottom 
beneficiary of an “accumulation distribution” by       trusts for which the sum of this accumulation        margin of the appropriate form or schedule and 
completing Part IV of Schedule J (Form 1041).          distribution and any earlier accumulation            enter the change on line 22. 
If you received a distribution for this tax year       distributions from the trust, which are considered   Line 28. If estate taxes or generation-skipping 
from a trust that accumulated its income instead       under section 666(a) to have been distributed in     transfer taxes apply to the accumulation 
of distributing it each year (and the trust paid       the same earlier tax year(s), is $1,000 or more.     distribution, reduce the partial tax proportionately 
taxes on that income), you must complete Form          Foreign trust. If the trust is a foreign trust, see  for those taxes. See section 667(b)(6) for the 
4970 to compute any additional tax liability. The      section 665(d)(2).                                   computation.
trustee must give you a completed Part IV of           Line 8. You can determine the number of years        Individuals. Include the amount from this line on  
Schedule J (Form 1041) so you can complete             in which the UNI is deemed to have been              Schedule 2 (Form 1040), line 17l. 
this form.                                             distributed by counting the “throwback years”        Trusts and decedents’ estates. Include the 
If you received accumulation distributions from        for which there are entries on lines 32 through 36   amount on Form 1041, Schedule G, line 8. Write 
more than one trust during the current tax year,       of Part IV of Schedule J (Form 1041). These          “From Form 4970” and the amount of the tax to 
prepare a separate Form 4970 for each trust            throwback rules apply even if you wouldn’t have      the left of the line 8 entry space.
from which you received an accumulation                been entitled to receive a distribution in the       Other filers. Add the result to the total tax 
distribution. You can arrange the distributions in     earlier tax year if the distribution had actually    liability before the refundable credits on your 
any order you want them considered to have             been made then. There can be more than 5             income tax return for the year of the 
been made.                                             “throwback years.”                                   accumulation distribution. Attach this form to 
                                                       Line 11. From the number of years entered on         that return.
Who Must File                                          line 8, subtract any year in which the distribution 
Beneficiaries who received an accumulation             from column (a), Part IV of Schedule J (Form         Paperwork Reduction Act Notice. We ask for 
distribution from certain domestic trusts that         1041) is less than the amount on line 10 of Form     the information on this form to carry out the 
were created before March 1, 1984, must file           4970. If the distribution for each throwback year    Internal Revenue laws of the United States. You 
Form 4970. For details, see section 665(c).            is more than line 10, then enter the same number     are required to give us the information. We need 
Foreign trust beneficiaries. If you received an        on line 11 as you entered on line 8.                 it to ensure that you are complying with these 
accumulation distribution from a foreign trust,        Line 13. Enter your taxable incomes for years        laws and to allow us to figure and collect the 
you must report the distribution and the partial       2018–2022, even if less than 5 years of the trust    right amount of tax.
tax on a 2023 Form 3520, Annual Return To              had accumulated income after you became 21.          You aren’t required to provide the information 
Report Transactions With Foreign Trusts and            Use the taxable income as reported by you or as      requested on a form that is subject to the 
Receipt of Certain Foreign Gifts.                      changed by the IRS. Include in the taxable           Paperwork Reduction Act unless the form 
Don’t file Form 4970 for distributions from any        income amounts considered distributed in that        displays a valid OMB control number. Books or 
foreign trusts, except to attach it as a worksheet     year as a result of prior accumulation               records relating to a form or its instructions must 
to Form 3520 if those instructions direct you to.      distributions, whether from the same or another      be retained as long as their contents may 
Note: If the accumulation distributions are from a     trust, and whether made in an earlier year or the    become material in the administration of any 
domestic trust that used to be a foreign trust, see    current year.                                        Internal Revenue law. Generally, tax returns and 
Rev. Rul. 91-6, 1991-1 C.B. 89.                           If your taxable income as adjusted is less than   return information are confidential, as required by 
                                                       zero, enter zero.                                    section 6103.
Definitions                                            Line 17. Figure the income tax (excluding any        The time needed to complete and file this form 
Undistributed net income (UNI). UNI is the             alternative minimum tax (AMT)) on the income on      will vary depending on individual circumstances. 
distributable net income (DNI) of the trust for any    line 16 using the tax rates in effect for your       The estimated burden for individual taxpayers 
tax year less (1) the amount of income required        particular earlier tax year shown in each of the     filing this form is approved under OMB control 
to be distributed currently and any other              three columns. Use the Tax Rate Schedules, etc.,     number 1545-0074 and is included in the 
amounts properly paid or credited or required to       as applicable. You can get the Tax Rate              estimates shown in the instructions for their 
be distributed to beneficiaries in the tax year and    Schedules and prior year forms by downloading        individual income tax return. The estimated 
(2) the taxes imposed on the trust attributable to     them at www.irs.gov.                                 burden for all other taxpayers who file this form is 
such DNI.                                              Line 18. Enter your income tax (excluding any        shown below.
Accumulation distribution. An accumulation             AMT) as originally reported, corrected, or           Learning about the                                           
distribution is the excess of amounts properly         amended, before reduction for any credits for        law or the form     .  . .   . .   . .  .  13 min.
paid, credited, or required to be distributed          your particular earlier year shown in each of the    Preparing the form .     .   .   .   .  .  52 min.
(other than income required to be distributed          three columns.                                       Copying, assembling,                                         
currently) over the DNI of the trust reduced by        Line 20. Nonrefundable credits that are limited to   and sending the form to the IRS      .  .  20 min.
income required to be distributed currently.           tax liability, such as the general business credit,  If you have comments concerning the 
Generally, except for tax-exempt interest, the         may be changed because of an accumulation            accuracy of these time estimates or suggestions 
distribution loses its character upon distribution     distribution. If the total allowable credits for any for making this form simpler, we would be happy 
to the beneficiary. See section 667(d) for special     of the 3 computation years increase, enter the       to hear from you. See the instructions for the tax 
rules for foreign trusts.                              increase on line 20. However, don’t treat as an      return with which this form is filed.
                                                       increase the part of the credit that was allowable 
Specific Instructions                                  as a carryback or carryforward credit in the 
Item E—Type of trust. If you received an               current or any preceding year other than the 
accumulation distribution from a foreign trust,        computation year.
see Foreign trust beneficiaries  , earlier. Don’t file    To refigure these credits, you must consider 
this form other than as an attachment to Form          changes to the tax before credits for each of the 
3520.                                                  3 computation years due to previous 
Line 1. For a nonresident alien or foreign             accumulation distributions.
corporation, include only the part of the                 If the accumulation distribution is from a 
accumulation distribution that is attributable to      domestic trust that paid foreign income taxes, 
U.S. sources or is effectively connected with a        the limitation on the foreign tax credit under 
trade or business carried on in the United States.     section 904 is applied separately to the