2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 17 - Internal Revenue Code of 2011 (§§ 30001 — 33423) › PART II - Income Taxes (§§ 30041 — 30622) › Chapter 1008 - Tax Returns and Payment (§§ 30241 — 30303) › Subchapter A - Income Tax Returns (§§ 30241 — 30264) › § 30249 - Estate and trust returns

(a) Filing of return. —
(1) General rule. — Any taxable estate or trust under the provisions of §§ 30411—30419 of this title shall file an annual return, under penalty of perjury, stating specifically the items of gross income, its money inflow and outflow, and any other information in the form and manner prescribed by the Secretary through regulations, circular letter, informational bulletin, or general administrative determination.
(2) Exception. — When a trust set up under the laws of the Government of Puerto Rico is considered, for purposes of the U. S. Internal Revenue Code of 1986, as amended, as a revocable trust or a grantor trust, then for purposes of this subtitle, the trust shall be treated as a revocable trust subject to the provisions of §§ 30415 and 30416 of this title, and shall:
(A) Information return. — Submit an information return which shall include the items of gross income, its money inflow and outflow, and any other information in the form and manner prescribed by the Secretary through regulations, circular letter, informative bulletin, or general administrative determination; and
(B) Report to trust grantor. — Furnish the trust grantor a report containing such information as required to be included in the trust grantor return, including the items of gross income, deductions, credits, and any other information in the form and manner prescribed by the Secretary through regulations, circular letter, informative bulletin, or general administrative determination.
(b) Filing due date. —
(1) General rule. — Except as provided in clause (2) below, the returns required under subsection (a)(1) of this section to be filed on a calendar year basis, shall be filed not later than the fifteen (15th) of April following the close of the calendar year. The returns filed on a fiscal year basis shall be filed not later than the fifteenth (15th) day of the fourth (4th) month following the close of the taxable year.
(2) Rule for trusts treated as revocable trusts or grantor’s trusts. — A revocable trust under § 30415 of this title or a grantor’s trust under § 30416 of this title shall file the information return required under subsection (a)(2) of this section not later than the fifteenth (15th) of March following the close of the calendar year of such trust. The returns filed on a fiscal year basis shall be filed not later than the fifteenth (15th) day of the third (3rd) month following the close of the fiscal year.
(3) Report to trust grantor. — Any trust required to file an information return under subsection (a)(2) of this section for any taxable year shall furnish a report to the trust grantor not later than the last day of the third (3rd) of the month following the close of its taxable year.
(4) Automatic extension. — An automatic extension shall be granted for a three (3) month period, counted as of the due date set for filing the return required under clauses (1) and (2) of this section, provided that the taxpayer requests such extension not later than on such return filing date as established in this part.
(5) Extension. — The Secretary may, under such rules and regulations as he/she prescribes, grant revocable trusts or grantor trusts an automatic extension to file the information required under clause (3) of this subsection for a period which shall not exceed thirty (30) days counted as of the due date set in such clause (3) to submit the report to the trust grantor. The Secretary may prescribe through regulations any such other information that must be included in such return.
History —Jan. 31, 2011, No. 1, § 1061.09, retroactive to Jan. 1, 2011.