Excepted Trust

A trust in which a filer has a vested interest, but no knowledge of the holdings. A trust is an excepted trust if it has both of the following characteristics:

• the filer, the filer's spouse or dependent children did not create the trust; and
• the filer, the filer's spouse or dependent children have no specific knowledge of the trust's holdings or sources of income through a report, disclosure, or constructive receipt, whether intended or inadvertent. Filers may never blind themselves from trusts by simply avoiding information that is made available to them.

For these types of trusts, the filers must indicate the general type of holdings to the extent known. The filer also would check "excepted trust" and provide the appropriate category of amount of income from the trust. Transactions involving trust assets cannot be reported because the filer does not know the trust's assets.