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Sec. 1.664-4 Calculation of the fair market value of the remainder interest in a charitable remainder unitrust.

(a) Rules for determining present value. For purposes of sections 170, 2055, 2106, and 2522, the fair market value of a remainder interest in a charitable remainder unitrust (as described in section 1.664-3) is its present value determined under paragraph (d) of this section. The present value determined under this section shall be computed on the basis of --

(1) Life contingencies determined as to each life involved, from the values of lx set forth in Table 2010CM in §20.2031-7(d)(7)(ii) of this chapter in the case of transfers for which the valuation date is on or after June 1, 2023; or from Table 2000CM contained in §20.2031-7A(g)(4) of this chapter in the case of transfers for which the valuation date is on or after May 1, 2009, and before June 1, 2023. See §20.2031-7A(a) through (f) of this chapter, whichever is applicable, for transfers for which the valuation date is before May 1, 2009;

(2) Interest at the section 7520 rate in the case of transfers for which the valuation date is after April 30, 1989, or 10 percent in the case of transfers to charitable remainder unitrusts made after November 30, 1983, for which the valuation date is before May 1, 1989. See section 20.2031-7A(a) through (c) of this chapter, whichever is applicable, for transfers for which the valuation date is before December 1, 1983; and

(3) The assumption that the amount described in section 1.664-3(a)(1)(i)(a) is distributed in accordance with the payout sequence described in the governing instrument. If the governing instrument does not prescribe when the distribution is made during the period for which the payment is made, for purposes of this section, the distribution is considered payable on the first day of the period for which the payment is made.

(b) Actuarial computations by the Internal Revenue Service. The regulations in this and in related sections provide tables of actuarial factors and examples that illustrate the use of the tables in determining the value of remainder interests in property. Section 1.7520-1(c)(2) refers to government publications that provide additional tables of factors and examples of computations for more complex situations. If the computation requires the use of a factor that is not provided in this section, the Commissioner may supply the factor upon a request for a ruling. A request for a ruling must be accompanied by a recitation of the facts including the date of birth of each measuring life, and copies of the relevant documents. A request for a ruling must comply with the instructions for requesting a ruling published periodically in the Internal Revenue Bulletin (See section 601.601(d)(2)(ii)(b) of this chapter) and include payment of the required user fee. If the Commissioner furnishes the factor, a copy of the letter supplying the factor should be attached to the tax return in which the deduction is claimed. If the Commissioner does not furnish the factor, the taxpayer must furnish a factor computed in accordance with the principles set forth in this section.

(c) Statement supporting deduction required. Any claim for a deduction on any return for the value of a remainder interest in a charitable remainder unitrust must be supported by a full statement attached to the return showing the computation of the present value of such interest.

(d) Valuation. The fair market value of a remainder interest in a charitable remainder unitrust (as described in §1.664-3) for transfers for which the valuation date is on or after June 1, 2023, is its present value determined under paragraph (e) of this section. The fair market value of a remainder interest in a charitable remainder unitrust (as described in §1.664-3) for transfers for which the valuation date is before June 1, 2023, is its present value determined under the following sections:

Table 1 to paragraph (d)

 Valuation Dates

Applicable Regulations

After

Before

-

01-01-52

§1.664-4A(a)

12-31-51

01-01-71

§1.664-4A(b)

12-31-70

12-01-83

§1.664-4A(c)

11-30-83

05-01-89

§1.664-4A(d)

04-30-89

05-01-99

§1.664-4A(e)

04-30-99

05-01-09

§1.664-4A(f)

04-30-09

06-01-23

§1.664-4A(g)

(e) Valuation of charitable remainder unitrusts having certain payout sequences for transfers for which the valuation date is on or after June 1, 2023.

(1) In general. Except as otherwise provided in paragraph (e)(2) of this section, in the case of transfers for which the valuation date is on or after June 1, 2023, the present value of a remainder interest is determined under paragraphs (e)(3) through (7) of this section, provided that, in a short taxable year, the trustee must prorate the unitrust amount as provided in §1.664-3(a)(1)(v). See, however, §1.7520-3(b) (relating to exceptions to the use of the prescribed tables under certain circumstances).

(2) Transitional rule for valuation of charitable remainder unitrusts. For purposes of section 170, 2055, 2106, 2522, or 2624, in the case of transfers to a charitable remainder unitrust for which the valuation date is after April 30, 2019, and on or before June 1, 2023, the present value of a remainder interest based on one or more measuring lives is determined under this section by using the section 7520 interest rate for the month in which the valuation date occurs (see §§1.7520-1(b) and 1.7520-2(a)(2)) and the appropriate actuarial factors derived from the selected mortality table, either Table 2010CM in §20.2031-7(d)(7)(ii) of this chapter or Table 2000CM in §20.2031-7A(g)(4) of this chapter, at the option of the donor or the decedent's executor, as the case may be. If any previously filed income tax return is amended to use the actuarial factors based on Table 2010CM, the amended return must state at the top "AMENDED PURSUANT TO TD 9974." If any previously filed gift or estate tax return is supplemented to use the actuarial factors based on Table 2010CM, the supplemental return must state at the top "SUPPLEMENTED PURSUANT TO TD 9974." For the convenience of taxpayers, actuarial factors based on Table 2010CM appear in the current version of Table U(1), and actuarial factors based on Table 2000CM appear in the previous version of Table U(1). Both versions of Table U(1) currently are available, at no charge, electronically via the IRS website at https://www.irs.gov/retirement-plans/actuarial-tables (or a corresponding URL as may be updated from time to time). The donor or decedent’s executor must consistently use the same mortality basis with respect to each interest (income, remainder, partial, etc.) in the same property, and with respect to all transfers occurring on the same valuation date. For example, gift and income tax charitable deductions with respect to the same transfer must be determined based on factors with the same mortality basis, and all assets includible in the gross estate and/or estate tax deductions claimed must be valued based on factors with the same mortality basis.

(3) Adjusted payout rate. For transfers for which the valuation date is after April 30, 1989, the adjusted payout rate is determined by using the appropriate Table F in paragraph (e)(6) of this section, for the section 7520 interest rate applicable to the transfer. If the interest rate is between 4.2 and 14 percent, see paragraph (e)(6) of this section. If the interest rate is below 4.2 percent or greater than 14 percent, see paragraph (b) of this section. The adjusted payout rate is determined by multiplying the fixed percentage described in section 1.664-3(a)(1)(i)(a) by the factor describing the payout sequence of the trust and the number of months by which the valuation date for the first full taxable year of the trust precedes the first payout date for such taxable year. If the governing instrument does not prescribe when the distribution or distributions shall be made during the taxable year of the trust, see paragraph (a) of this section. In the case of a trust having a payout sequence for which no figures have been provided by the appropriate table, and in the case of a trust that determines the fair market value of the trust assets by taking the average of valuations on more than one date during the taxable year, see paragraph (b) of this section.

(4) Period is a term of years. If the period described in section 1.664-3(a)(5) is a term of years, the factor that is used in determining the present value of the remainder interest for transfers for which the valuation date is after November 30, 1983, is the factor under the appropriate adjusted payout rate in Table D of paragraph (e)(6) of this section corresponding to the number of years in the term. If the adjusted payout rate is an amount that is between adjusted payout rates for which factors are provided in Table D, a linear interpolation must be made. The present value of the remainder interest is determined by multiplying the net fair market value (as of the appropriate valuation date) of the property placed in trust by the factor determined under this paragraph. For purposes of this section, the valuation date is, in the case of an inter vivos transfer, the date on which the property is transferred to the trust by the donor. However, if an election is made under section 7520 and section 1.7520-2(b) to compute the present value of the charitable interest by use of the interest rate component for either of the 2 months preceding the month in which the date of transfer falls, the month so elected is the valuation date for purposes of determining the interest rate and mortality tables. In the case of a testamentary transfer under section 2055, 2106, or 2624, the valuation date is the date of death, unless the alternate valuation date is elected under section 2032, in which event, and within the limitations set forth in section 2032 and the regulations there under, the valuation date is the alternate valuation date. If the decedent's estate elects the alternate valuation date under section 2032 and also elects, under section 7520 and section 1.7520-2(b), to use the interest rate component for one of the 2 months preceding the alternate valuation date, the month so elected is the valuation date for purposes of determining the interest rate and mortality tables. The application of this paragraph (e)(4) may be illustrated by the following example:

EXAMPLE. D transfers $100,000 to a charitable remainder unitrust on January 1. The trust instrument requires that the trust pay 8 percent of the fair market value of the trust assets as of January 1st for a term of 12 years to D in quarterly payments (March 31, June 30, September 30, and December 31). The section 7520 rate for January (the month that the transfer occurred) is 9.6 percent. Under Table F(9.6) in paragraph(e)(6) of this section, the appropriate adjustment factor is .944628 for quarterly payments payable at the end of each quarter. The adjusted payout rate is 7.557 (8% X .944628). Based on the remainder factors in Table D in paragraph(e)(6) of this section, the present value of the remainder interest is $38,950.30, computed as follows:

Factor at 7.4 percent for 12 years

.397495

Factor at 7.6 percent for 12 years

.387314

Difference

.010181

Interpolation adjustment:
7.557% - 7.4%               X
_____________ =       _________
            0.2%              .010181

X = .007992

Factor at 7.4 percent for 12 years

.397495

Less: Interpolation adjustment

.007992

Interpolated factor

.389503

Present value of remainder interest:
($100,000 X .389503).......... $38,950.30

(5) Period is the life of one individual.

(i) Factor. If the period described in §1.664-3(a)(5) is the life of one individual, the factor that is used in determining the present value of the remainder interest for transfers for which the valuation date is on or after June 1, 2023, is the factor obtained through the use of the formula in Figure 1 to this paragraph (e)(5)(i) to at least five decimal places. The prescribed mortality table is Table 2010CM as set forth in §20.2031-7(d)(7)(ii) of this chapter, or for periods before June 1, 2023, the appropriate table found in §20.2031-7A of this chapter. Table 2010CM is referenced by IRS Publication 1458, Actuarial Values Version 4B. The mortality tables prescribed for periods before June 1, 2023, are referenced by prior versions of IRS Publication 1458. Alternatively, the remainder factors have been determined for the convenience of taxpayers and appear in Table U(1) under the appropriate adjusted payout rate. Table U(1) currently is available, at no charge, electronically via the IRS website at https://www.irs.gov/retirement-plans/actuarial-tables (or a corresponding URL as may be updated from time to time). Table U(1) is referenced and explained by IRS Publication 1458, Actuarial Valuations Version 4B, which will be available within a reasonable time after June 1, 2023. For purposes of the computations described in this paragraph (e)(5), the age of an individual is the age of that individual at the individual's nearest birthday. If the adjusted payout rate is an amount that is between adjusted payout rates for which factors are provided in the appropriate table, an exact method of obtaining the applicable remainder factors (such as through software using the actual adjusted payout rate and the actuarial formula in this paragraph (e)(5)) or a linear interpolation must be used, provided whichever method used is applied consistently in valuing all interests in the same property. The applicable remainder factors derived by an exact method or by interpolation must be expressed to at least five decimal places. The present value of the remainder interest is determined by multiplying the net fair market value (as of the valuation date as determined in §1.664-4(e)(4)) of the property placed in trust by the factor determined under this paragraph (e)(5). If the adjusted payout rate is from 0.2 to 20.0 percent, inclusive, taxpayers may see the actuarial tables referenced and explained by IRS Publication 1458, Actuarial Valuations Version 4B. Alternatively, the Commissioner may supply a factor upon a request for a ruling. See paragraph (b) of this section.

Figure 1 to paragraph (e)(5)(i) — Formula for determining unitrust remainder factors

(ii) Sample factors from actuarial Table U(1). For purposes of the example in paragraph (e)(5)(iii) of this section, the following factors from Table U(1) and Table F(3.2) (see paragraph (e)(6)(ii) of this section) will be used:

Table 2 to paragraph (e)(5)(ii)

Factors from Table U(1) - Based on Table 2010CM
Adjusted Payout Rate

Age

4.8%

5.0%

5.2%

77

0.61491

0.60343

0.59223

Factors from Table F(3.2)
Factors for Computing Adjusted Payout Rates for Unitrusts
Interest at 3.2 Percent

# of Months from Annual Valuation to First Payout

Adjustment Factors for Payments at End of Period

At Least

But Less Than

Annual

Semiannual

6

7

0.984374

0.976683

(iii) Example of interpolation. After June 1, 2023, A, whose age is 76 years and 11 months, transfers $100,000 to a charitable remainder unitrust on January 1st. The trust instrument requires that the trust pay to A semiannually (on June 30 and December 31) 5 percent of the fair market value of the trust assets as of January 1st during A's life. The section 7520 rate for January is 3.2 percent. Under Table F(3.2), the appropriate adjustment factor is 0.976683 for semiannual payments payable at the end of the semiannual period. The adjusted payout rate is 4.883% (5% × 0.976683). Based on interpolating between the remainder factors in Table U(1), the present value of the remainder interest is $61,015, computed as illustrated in Figure 2 to this paragraph (e)(5)(iii).

Figure 2 to paragraph (e)(5)(iii) — Illustration of unitrust interpolation method

(6) Actuarial Table D and Tables F(0.2) through F(20.0) for transfers for which the valuation date is on or after May 1, 1989.

(i) Remainder factors for charitable remainder unitrusts. For transfers for which the valuation date is on or after May 1, 1989, the present value of a charitable remainder unitrust interest that is dependent upon a term of years is determined by using the formula in Figure 3 to this paragraph (e)(6)(i) and calculating the final result to at least six decimal places. For the convenience of taxpayers, actuarial factors have been computed by the IRS and appear in Table D. Table D can be found on the IRS website at https://www.irs.gov/retirement-plans/actuarial-tables (or a corresponding URL as may be updated from time to time). Table D is referenced and explained in IRS Publication 1458, Actuarial Valuations Version 4B, which will be available within a reasonable time after June 1, 2023. The remainder factors from Table D also can be found in paragraph (e)(6)(iii) of this section, but only for adjusted payout rates from 4.2 to 14 percent, inclusive. For transfers for which the valuation date is on or after June 1, 2023, where the present value of a charitable remainder unitrust interest is dependent on the termination of a life interest, see paragraph (e)(5) of this section. See, however, §1.7520-3(b) (relating to exceptions to the use of prescribed tables under certain circumstances).

Figure 3 to paragraph (e)(6)(i) — Formula for determining term certain unitrust remainder factors

(ii) Unitrust payout rate adjustment factors. For transfers for which the valuation date is on or after May 1, 1989, the unitrust payout rate adjustment factors are determined by using the formula in Figure 4 to this paragraph (e)(6)(ii) and calculating the final result to at least six decimal places. For the convenience of taxpayers, actuarial factors have been computed by the IRS, for interest rates from 0.2 to 20 percent, inclusive, and appear in Tables F(0.2) through F(20.0). Tables F(0.2) through F(20.0) can be found on the IRS website at https://www.irs.gov/retirement-plans/actuarial-tables (or a corresponding URL as may be updated from time to time). Tables F(0.2) through F(20.0) are referenced and explained in IRS Publication 1458, Actuarial Valuations Version 4B, which will be available within a reasonable time after June 1, 2023. The factors from Table F also can be found in paragraph (e)(6)(iii) of this section, but only for interest rates from 4.2 to 14 percent, inclusive.

Figure 4 to paragraph (e)(6)(ii) — Formula for determining unitrust payout rate adjustment factors

(iii) Table D and Tables F(4.2) through F(14.0). The unitrust remainder factors from Table D, for interest rates from 4.2 to 14 percent, inclusive, and the unitrust payout factors from Tables F(4.2) through F(14.0) are as follows:

Table D - Showing the Present Worth of a Remainder Interest Postponed for a Term Certain in a Charitable Remainder Unitrust

[Applicable after April 30, 1989]

Years

Adjusted Payout Rate

4.2%

4.4%

4.6%

4.8%

5.0%

1

.958000

.956000

.954000

.952000

.950000

2

.917764

.913936

.910116

.906304

.902500

3

.879218

.873723

.868251

.862801

.857375

4

.842291

.835279

.828311

.821387

.814506

5

.806915

.798527

.790209

.781960

.773781

6

.773024

.763392

.753859

.744426

.735092

7

.740557

.729802

.719182

.708694

.698337

8

.709454

.697691

.686099

.674677

.663420

9

.679657

.666993

.654539

.642292

.630249

10

.651111

.637645

.624430

.611462

.598737

11

.623764

.609589

.595706

.582112

.568800

12

.597566

.582767

.568304

.554170

.540360

13

.572469

.557125

.542162

.527570

.513342

14

.548425

.532611

.517222

.502247

.487675

15

.525391

.509177

.493430

.478139

.463291

16

.503325

.486773

.470732

.455188

.440127

17

.482185

.465355

.449079

.433339

.418120

18

.461933

.444879

.428421

.412539

.397214

19

.442532

.425304

.408714

.392737

.377354

20

.423946

.406591

.389913

.373886

.358486

(Table continued)

Years

5.2%

5.4%

5.6%

5.8%

6.0%

1

.948000

.946000

.944000

.942000

.940000

2

.898704

.894916

.891136

.887364

.883600

3

.851971

.846591

.841232

.835897

.830584

4

.807669

.800875

.794123

.787415

.780749

5

.765670

.757627

.749652

.741745

.733904

6

.725855

.716716

.707672

.698724

.689870

7

.688111

.678013

.668042

.658198

.648478

8

.652329

.641400

.630632

.620022

.609569

9

.618408

.606765

.595317

.584061

.572995

10

.586251

.573999

.561979

.550185

.538615

11

.555766

.543003

.530508

.518275

.506298

12

.526866

.513681

.500800

.488215

.475920

13

.499469

.485942

.472755

.459898

.447365

14

.473496

.459701

.446281

.433224

.420523

15

.448875

.434878

.421289

.408097

.395292

16

.425533

.411394

.397697

.384427

.371574

17

.403405

.389179

.375426

.362131

.349280

18

.382428

.368163

.354402

.341127

.328323

19

.362542

.348282

.334555

.321342

.308624

20

.343690

.329475

.315820

.302704

.290106

Table D - Showing the Present Worth of a Remainder Interest Postponed for a Term Certain in a Charitable Remainder Unitrust

[Applicable after April 30, 1989]

Years

Adjusted Payout Rate

6.2%

6.4%

6.6%

6.8%

7.0%

1

.938000

.936000

.934000

.932000

.930000

2

.879844

.876096

.872356

.868624

.864900

3

.825294

.820026

.814781

.809558

.804357

4

.774125

.767544

.761005

.754508

.748052

5

.726130

.718421

.710779

.703201

.695688

6

.681110

.672442

.663867

.655383

.646990

7

.638881

.629406

.620052

.610817

.601701

8

.599270

.589124

.579129

.569282

.559582

9

.562115

.551420

.540906

.530571

.520411

10

.527264

.516129

.505206

.494492

.483982

11

.494574

.483097

.471863

.460866

.450104

12

.463910

.452179

.440720

.429527

.418596

13

.435148

.423239

.411632

.400320

.389295

14

.408169

.396152

.384465

.373098

.362044

15

.382862

.370798

.359090

.347727

.336701

16

.359125

.347067

.335390

.324082

.313132

17

.336859

.324855

.313254

.302044

.291213

18

.315974

.304064

.292579

.281505

.270828

19

.296383

.284604

.273269

.262363

.251870

20

.278008

.266389

.255233

.244522

.234239

(Table continued)

Years

7.2%

7.4%

7.6%

7.8%

8.0%

1

.928000

.926000

.924000

.922000

.920000

2

.861184

.857476

.853776

.850084

.846400

3

.799179

.794023

.788889

.783777

.778688

4

.741638

.735265

.728933

.722643

.716393

5

.688240

.680855

.673535

.666277

.659082

6

.638687

.630472

.622346

.614307

.606355

7

.592701

.583817

.575048

.566391

.557847

8

.550027

.540615

.531344

.522213

.513219

9

.510425

.500609

.490962

.481480

.472161

10

.473674

.463564

.453649

.443925

.434388

11

.439570

.429260

.419171

.409298

.399637

12

.407921

.397495

.387314

.377373

.367666

13

.378550

.368081

.357879

.347938

.338253

14

.351295

.340843

.330680

.320799

.311193

15

.326002

.315620

.305548

.295777

.286297

16

.302529

.292264

.282326

.272706

.263394

17

.280747

.270637

.260870

.251435

.242322

18

.260533

.250610

.241044

.231823

.222936

19

.241775

.232065

.222724

.213741

.205101

20

.224367

.214892

.205797

.197069

.188693

(Table continued)

Years

8.2%

8.4%

8.6%

8.8%

9.0%

1

.918000

.916000

.914000

.912000

.910000

2

.842724

.839056

.835396

.831744

.828100

3

.773621

.768575

.763552

.758551

.753571

4

.710184

.704015

.697886

.691798

.685750

5

.651949

.644878

.637868

.630920

.624032

6

.598489

.590708

.583012

.575399

.567869

7

.549413

.541089

.532873

.524764

.516761

8

.504361

.495637

.487046

.478585

.470253

9

.463003

.454004

.445160

.436469

.427930

10

.425037

.415867

.406876

.398060

.389416

11

.390184

.380934

.371885

.363031

.354369

12

.358189

.348936

.339902

.331084

.322475

13

.328817

.319625

.310671

.301949

.293453

14

.301854

.292777

.283953

.275377

.267042

15

.277102

.268184

.259533

.251144

.243008

16

.254380

.245656

.237213

.229043

.221137

17

.233521

.225021

.216813

.208887

.201235

18

.214372

.206119

.198167

.190505

.183124

19

.196794

.188805

.181125

.173741

.166643

20

.180657

.172946

.165548

.158452

.151645

(Table continued)

Years

9.2%

9.4%

9.6%

9.8%

10.0%

1

.908000

.906000

.904000

.902000

.900000

2

.824464

.820836

.817216

.813604

.810000

3

.748613

.743677

.738763

.733871

.729000

4

.679741

.673772

.667842

.661951

.656100

5

.617205

.610437

.603729

.597080

.590490

6

.560422

.553056

.545771

.538566

.531441

7

.508863

.501069

.493377

.485787

.478297

8

.462048

.453968

.446013

.438180

.430467

9

.419539

.411295

.403196

.395238

.387420

10

.380942

.372634

.364489

.356505

.348678

11

.345895

.337606

.329498

.321567

.313811

12

.314073

.305871

.297866

.290054

.282430

13

.285178

.277119

.269271

.261628

.254187

14

.258942

.251070

.243421

.235989

.228768

15

.235119

.227469

.220053

.212862

.205891

16

.213488

.206087

.198928

.192001

.185302

17

.193847

.186715

.179830

.173185

.166772

18

.176013

.169164

.162567

.156213

.150095

19

.159820

.153262

.146960

.140904

.135085

20

.145117

.138856

.132852

.127096

.121577

(Table continued)

Years

10.2%

10.4%

10.6%

10.8%

11.0%

1

.898000

.896000

.894000

.892000

.890000

2

.806404

.802816

.799236

.795664

.792100

3

.724151

.719323

.714517

.709732

.704969

4

.650287

.644514

.638778

.633081

.627422

5

.583958

.577484

.571068

.564708

.558406

6

.524394

.517426

.510535

.503720

.496981

7

.470906

.463613

.456418

.449318

.442313

8

.422874

.415398

.408038

.400792

.393659

9

.379741

.372196

.364786

.357506

.350356

10

.341007

.333488

.326118

.318896

.311817

11

.306224

.298805

.291550

.284455

.277517

12

.274989

.267729

.260645

.253734

.246990

13

.246941

.239886

.233017

.226331

.219821

14

.221753

.214937

.208317

.201887

.195641

15

.199134

.192584

.186236

.180083

.174121

16

.178822

.172555

.166495

.160634

.154967

17

.160582

.154609

.148846

.143286

.137921

18

.144203

.138530

.133069

.127811

.122750

19

.129494

.124123

.118963

.114007

.109247

20

.116286

.111214

.106353

.101694

.097230

(Table continued)

Years

11.2%

11.4%

11.6%

11.8%

12.0%

1

.888000

.886000

.884000

.882000

.880000

2

.788544

.784996

.781456

.777924

.774400

3

.700227

.695506

.690807

.686129

.681472

4

.621802

.616219

.610673

.605166

.599695

5

.552160

.545970

.539835

.533756

.527732

6

.490318

.483729

.477214

.470773

.464404

7

.435402

.428584

.421858

.415222

.408676

8

.386637

.379726

.372922

.366226

.359635

9

.343334

.336437

.329663

.323011

.316478

10

.304881

.298083

.291422

.284896

.278501

11

.270734

.264102

.257617

.251278

.245081

12

.240412

.233994

.227734

.221627

.215671

13

.213486

.207319

.201317

.195475

.189791

14

.189575

.183684

.177964

.172409

.167016

15

.168343

.162744

.157320

.152065

.146974

16

.149488

.144191

.139071

.134121

.129337

17

.132746

.127754

.122939

.118295

.113817

18

.117878

.113190

.108678

.104336

.100159

19

.104676

.100286

.096071

.092024

.088140

20

.092952

.088853

.084927

.081166

.077563

(Table continued)

Years

12.2%

12.4%

12.6%

12.8%

13.0%

1

.878000

.876000

.874000

.872000

.870000

2

.770884

.767376

.763876

.760384

.756900

3

.676836

.672221

.667628

.663055

.658503

4

.594262

.588866

.583507

.578184

.572898

5

.521762

.515847

.509985

.504176

.498421

6

.458107

.451882

.445727

.439642

.433626

7

.402218

.395848

.389565

.383368

.377255

8

.353147

.346763

.340480

.334297

.328212

9

.310063

.303764

.297579

.291507

.285544

10

.272236

.266098

.260084

.254194

.248423

11

.239023

.233102

.227314

.221657

.216128

12

.209862

.204197

.198672

.193285

.188032

13

.184259

.178877

.173640

.168544

.163588

14

.161779

.156696

.151761

.146971

.142321

15

.142042

.137266

.132639

.128158

.123819

16

.124713

.120245

.115927

.111754

.107723

17

.109498

.105334

.101320

.097450

.093719

18

.096139

.092273

.088554

.084976

.081535

19

.084410

.080831

.077396

.074099

.070936

20

.074112

.070808

.067644

.064614

.061714

(Table continued)

Years

13.2%

13.4%

13.6%

13.8%

14.0%

1

.868000

.866000

.864000

.862000

.860000

2

.753424

.749956

.746496

.743044

.739600

3

.653972

.649462

.644973

.640504

.636056

4

.567648

.562434

.557256

.552114

.547008

5

.492718

.487068

.481469

.475923

.470427

6

.427679

.421801

.415990

.410245

.404567

7

.371226

.365279

.359415

.353631

.347928

8

.322224

.316332

.310535

.304830

.299218

9

.279690

.273944

.268302

.262764

.257327

10

.242771

.237235

.231813

.226502

.221302

11

.210725

.205446

.200286

.195245

.190319

12

.182910

.177916

.173047

.168301

.163675

13

.158766

.154075

.149513

.145076

.140760

14

.137809

.133429

.129179

.125055

.121054

15

.119618

.115550

.111611

.107798

.104106

16

.103828

.100066

.096432

.092922

.089531

17

.090123

.086657

.083317

.080098

.076997

18

.078227

.075045

.071986

.069045

.066217

19

.067901

.064989

.062196

.059517

.056947

20

.058938

.056280

.053737

.051303

.048974

Table F(4.2) - With Interest at 4.2 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.989820

.984755

.981389

1

2

.996577

.986432

.981385

.978030

2

3

.993166

.983056

.978026

 

3

4

.989767

.979691

.974679

 

4

5

.986380

.976338

 

 

5

6

.983004

.972996

 

 

6

7

.979639

.969666

 

 

7

8

.976286

 

 

 

8

9

.972945

 

 

 

9

10

.969615

 

 

 

10

11

.966296

 

 

 

11

12

.962989

 

 

 

12

 

.959693

 

 

 

Table F(4.4) - With Interest at 4.4 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.989350

.984054

.980533

1

2

.996418

.985806

.980529

.977021

2

3

.992849

.982275

.977017

 

3

4

.989293

.978757

.973517

 

4

5

.985749

.975251

 

 

5

6

.982219

.971758

 

 

6

7

.978700

.968277

 

 

7

8

.975195

 

 

 

8

9

.971702

 

 

 

9

10

.968221

 

 

 

10

11

.964753

 

 

 

11

12

.961298

 

 

 

12

 

.957854

 

 

 

Table F(4.6) - With Interest at 4.6 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.988882

.983354

.979680

1

2

.996259

.985183

.979676

.976015

2

3

.992532

.981498

.976011

 

3

4

.988820

.977826

.972360

 

4

5

.985121

.974168

 

 

5

6

.981436

.970524

 

 

6

7

.977764

.966894

 

 

7

8

.974107

 

 

 

8

9

.970463

 

 

 

9

10

.966832

 

 

 

10

11

.963216

 

 

 

11

12

.959613

 

 

 

12

 

.956023

 

 

 

Table F(4.8) - With Interest at 4.8 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.988415

.982657

.978830

1

2

.996101

.984561

.978825

.975013

2

3

.992217

.980722

.975008

 

3

4

.988348

.976898

.971206

 

4

5

.984494

.973089

 

 

5

6

.980655

.969294

 

 

6

7

.976831

.965515

 

 

7

8

.973022

 

 

 

8

9

.969228

 

 

 

9

10

.965448

 

 

 

10

11

.961684

 

 

 

11

12

.957934

 

 

 

12

 

.954198

 

 

 

Table F(5.0) - With Interest at 5.0 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.987950

.981961

.977982

1

2

.995942

.983941

.977977

.974014

2

3

.991901

.979949

.974009

 

3

4

.987877

.975973

.970057

 

4

5

.983868

.972013

 

 

5

6

.979876

.968069

 

 

6

7

.975900

.964141

 

 

7

8

.971940

 

 

 

8

9

.967997

 

 

 

9

10

.964069

 

 

 

10

11

.960157

 

 

 

11

12

.956261

 

 

 

12

 

.952381

 

 

 

Table F(5.2) - With Interest at 5.2 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.987486

.981268

.977137

1

2

.995784

.983323

.977132

.973018

2

3

.991587

.979178

.973012

 

3

4

.987407

.975050

.968911

 

4

5

.983244

.970940

 

 

5

6

.979099

.966847

 

 

6

7

.974972

.962771

 

 

7

8

.970862

 

 

 

8

9

.966769

 

 

 

9

10

.962694

 

 

 

10

11

.958636

 

 

 

11

12

.954594

 

 

 

12

 

.950570

 

 

 

Table F(5.4) - With Interest at 5.4 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.987023

.980577

.976295

1

2

.995627

.982707

.976289

.972026

2

3

.991273

.978409

.972019

 

3

4

.986938

.974131

.967769

 

4

5

.982622

.969871

 

 

5

6

.978325

.965629

 

 

6

7

.974047

.961407

 

 

7

8

.969787

 

 

 

8

9

.965546

 

 

 

9

10

.961323

 

 

 

10

11

.957119

 

 

 

11

12

.952934

 

 

 

12

 

.948767

 

 

 

Table F(5.6) - With Interest at 5.6 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.986562

.979888

.975455

1

2

.995470

.982092

.975449

.971036

2

3

.990960

.977643

.971029

 

3

4

.986470

.973214

.966630

 

4

5

.982001

.968805

 

 

5

6

.977552

.964416

 

 

6

7

.973124

.960047

 

 

7

8

.968715

 

 

 

8

9

.964326

 

 

 

9

10

.959958

 

 

 

10

11

.955609

 

 

 

11

12

.951279

 

 

 

12

 

.946970

 

 

 

Table F(5.8) - With Interest at 5.8 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.986102

.979201

.974618

1

2

.995313

.981480

.974611

.970050

2

3

.990647

.976879

.970043

 

3

4

.986004

.972300

.965496

 

4

5

.981382

.967743

 

 

5

6

.976782

.963206

 

 

6

7

.972203

.958692

 

 

7

8

.967646

 

 

 

8

9

.963111

 

 

 

9

10

.958596

 

 

 

10

11

.954103

 

 

 

11

12

.949631

 

 

 

12

 

.945180

 

 

 

Table F(6.0) - With Interest at 6.0 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.985643

.978516

.973784

1

2

.995156

.980869

.973776

.969067

2

3

.990336

.976117

.969059

 

3

4

.985538

.971389

.964365

 

4

5

.980764

.966684

 

 

5

6

.976014

.962001

 

 

6

7

.971286

.957341

 

 

7

8

.966581

 

 

 

8

9

.961899

 

 

 

9

10

.957239

 

 

 

10

11

.952603

 

 

 

11

12

.947988

 

 

 

12

 

.943396

 

 

 

Table F(6.2) - With Interest at 6.2 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.985185

.977833

.972952

1

2

.995000

.980259

.972944

.968087

2

3

.990024

.975358

.968079

 

3

4

.985074

.970481

.963238

 

4

5

.980148

.965628

 

 

5

6

.975247

.960799

 

 

6

7

.970371

.955995

 

 

7

8

.965519

 

 

 

8

9

.960691

 

 

 

9

10

.955887

 

 

 

10

11

.951107

 

 

 

11

12

.946352

 

 

 

12

 

.941620

 

 

 

Table F(6.4) - With Interest at 6.4 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.984729

.977152

.972122

1

2

.994844

.979652

.972114

.967110

2

3

.989714

.974600

.967101

 

3

4

.984611

.969575

.962115

 

4

5

.979534

.964576

 

 

5

6

.974483

.959602

 

 

6

7

.969458

.954654

 

 

7

8

.964460

 

 

 

8

9

.959487

 

 

 

9

10

.954539

 

 

 

10

11

.949617

 

 

 

11

12

.944721

 

 

 

12

 

.939850

 

 

 

Table F(6.6) - With Interest at 6.6 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.984274

.976473

.971295

1

2

.994688

.979046

.971286

.966136

2

3

.989404

.973845

.966127

 

3

4

.984149

.968672

.960995

 

4

5

.978921

.963527

 

 

5

6

.973721

.958408

 

 

6

7

.968549

.953317

 

 

7

8

.963404

 

 

 

8

9

.958286

 

 

 

9

10

.953196

 

 

 

10

11

.948132

 

 

 

11

12

.943096

 

 

 

12

 

.938086

 

 

 

Table F(6.8) - With Interest at 6.8 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.983821

.975796

.970471

1

2

.994533

.978442

.970461

.965165

2

3

.989095

.973092

.965156

 

3

4

.983688

.967772

.959879

 

4

5

.978309

.962481

 

 

5

6

.972961

.957219

 

 

6

7

.967641

.951985

 

 

7

8

.962351

 

 

 

8

9

.957089

 

 

 

9

10

.951857

 

 

 

10

11

.946653

 

 

 

11

12

.941477

 

 

 

12

 

.936330

 

 

 

Table F(7.0) - With Interest at 7.0 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.983368

.975122

.969649

1

2

.994378

.977839

.969639

.964198

2

3

.988787

.972342

.964187

 

3

4

.983228

.966875

.958766

 

4

5

.977700

.961439

 

 

5

6

.972203

.956033

 

 

6

7

.966736

.950658

 

 

7

8

.961301

 

 

 

8

9

.955896

 

 

 

9

10

.950522

 

 

 

10

11

.945178

 

 

 

11

12

.939864

 

 

 

12

 

.934579

 

 

 

Table F(7.2) - With Interest at 7.2 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.982917

.974449

.968830

1

2

.994223

.977239

.968819

.963233

2

3

.988479

.971593

.963222

 

3

4

.982769

.965980

.957658

 

4

5

.977091

.960400

 

 

5

6

.971446

.954851

 

 

6

7

.965834

.949335

 

 

7

8

.960255

 

 

 

8

9

.954707

 

 

 

9

10

.949192

 

 

 

10

11

.943708

 

 

 

11

12

.938256

 

 

 

12

 

.932836

 

 

 

Table F(7.4) - With Interest at 7.4 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.982467

.973778

.968013

1

2

.994068

.976640

.968002

.962271

2

3

.988172

.970847

.962260

 

3

4

.982311

.965088

.956552

 

4

5

.976484

.959364

 

 

5

6

.970692

.953673

 

 

6

7

.964935

.948017

 

 

7

8

.959211

 

 

 

8

9

.953521

 

 

 

9

10

.947866

 

 

 

10

11

.942243

 

 

 

11

12

.936654

 

 

 

12

 

.931099

 

 

 

Table F(7.6) - With Interest at 7.6 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.982019

.973109

.967199

1

2

.993914

.976042

.967187

.961313

2

3

.987866

.970103

.961301

 

3

4

.981854

.964199

.955451

 

4

5

.975879

.958331

 

 

5

6

.969940

.952499

 

 

6

7

.964037

.946703

 

 

7

8

.958171

 

 

 

8

9

.952340

 

 

 

9

10

.946544

 

 

 

10

11

.940784

 

 

 

11

12

.935058

 

 

 

12

 

.929368

 

 

 

Table F(7.8) - With Interest at 7.8 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.0000000

.981571

.972442

.966387

1

2

.993761

.975447

.966374

.960357

2

3

.987560

.969361

.960345

 

3

4

.981398

.963312

.954353

 

4

5

.975275

.957302

 

 

5

6

.969190

.951329

 

 

6

7

.963143

.945393

 

 

7

8

.957133

 

 

 

8

9

.951161

 

 

 

9

10

.945227

 

 

 

10

11

.939329

 

 

 

11

12

.933468

 

 

 

12

 

.927644

 

 

 

Table F(8.0) - With Interest at 8.0 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.981125

.971777

.965578

1

2

.993607

.974853

.965564

.959405

2

3

.987255

.968621

.959392

 

3

4

980944

.962429

.953258

 

4

5

.974673

.956276

 

 

5

6

.968442

.950162

 

 

6

7

.962250

.944088

 

 

7

8

.956099

 

 

 

8

9

.949987

 

 

 

9

10

.943913

 

 

 

10

11

.937879

 

 

 

11

12

.931883

 

 

 

12

 

.925926

 

 

 

Table F(8.2) - With Interest at 8.2 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.980680

.971114

.964771

1

2

.993454

.974261

.964757

.958455

2

3

.986951

.967883

.958441

 

3

4

.980490

.961547

.952167

 

4

5

.974072

.955253

 

 

5

6

.967695

.949000

 

 

6

7

.961361

.942788

 

 

7

8

.955068

 

 

 

8

9

.948816

 

 

 

9

10

.942605

 

 

 

10

11

.936434

 

 

 

11

12

.930304

 

 

 

12

 

.924214

 

 

 

Table F(8.4) - With Interest at 8.4 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.980237

.970453

.963966

1

2

.993301

.973670

.963952

.957509

2

3

.986647

.967148

.957494

 

3

4

.980037

.960669

.951080

 

4

5

.973472

.954233

 

 

5

6

.966951

.947841

 

 

6

7

.960473

.941491

 

 

7

8

.954039

 

 

 

8

9

.947648

 

 

 

9

10

.941300

 

 

 

10

11

.934994

 

 

 

11

12

.928731

 

 

 

12

 

.922509

 

 

 

Table F(8.6) - With Interest at 8.6 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.979794

.969794

.963164

1

2

.993148

.973081

.963149

.956565

2

3

.986344

.966414

.956550

 

3

4

.979586

.959793

.949996

 

4

5

.972874

.953217

 

 

5

6

.966209

.946686

 

 

6

7

.959589

.940199

 

 

7

8

.953014

 

 

 

8

9

.946484

 

 

 

9

10

.940000

 

 

 

10

11

.933559

 

 

 

11

12

.927163

 

 

 

12

 

.920810

 

 

 

Table F(8.8) - With Interest at 8.8 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.979353

.969136

.962364

1

2

.992996

.972494

.962349

.955624

2

3

.986041

.965683

.955609

 

3

4

.979135

.958919

.948916

 

4

5

.972278

.952203

 

 

5

6

.965468

.945534

 

 

6

7

.958706

.938912

 

 

7

8

.951992

 

 

 

8

9

.945324

 

 

 

9

10

.938703

 

 

 

10

11

.932129

 

 

 

11

12

.925600

 

 

 

12

 

.919118

 

 

 

Table F(9.0) - With Interest at 9.0 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.978913

.968481

.961567

1

2

.992844

.971908

.961551

.954686

2

3

.985740

.964954

.954670

 

3

4

.978686

.958049

.947839

 

4

5

.971683

.951193

 

 

5

6

.964730

.944387

 

 

6

7

.957826

.937629

 

 

7

8

.950972

 

 

 

8

9

.944167

 

 

 

9

10

.937411

 

 

 

10

11

.930703

 

 

 

11

12

.924043

 

 

 

12

 

.917431

 

 

 

Table F(9.2) - With Interest at 9.2 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.978474

.967827

.960772

1

2

.992693

.971324

.960755

.953752

2

3

.985439

.964226

.953734

 

3

4

.978238

.957180

.946765

 

4

5

.971089

.950186

 

 

5

6

.963993

.943242

 

 

6

7

.956949

.936350

 

 

7

8

.949956

 

 

 

8

9

.943014

 

 

 

9

10

.936123

 

 

 

10

11

.929283

 

 

 

11

12

.922492

 

 

 

12

 

.915751

 

 

 

Table F(9.4) - With Interest at 9.4 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.978037

.967176

.959980

1

2

.992541

.970742

.959962

.952820

2

3

.985138

.963501

.952802

 

3

4

.977790

.956315

.945695

 

4

5

.970497

.949182

 

 

5

6

.963258

.942102

 

 

6

7

.956074

.935075

 

 

7

8

.948942

 

 

 

8

9

.941865

 

 

 

9

10

.934839

 

 

 

10

11

.927867

 

 

 

11

12

.920946

 

 

 

12

 

.914077

 

 

 

Table F(9.6) - With Interest at 9.6 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.977600

.966526

.959190

1

2

.992390

.970161

.959171

.951890

2

3

.984838

.962778

.951872

 

3

4

.977344

.955452

.944628

 

4

5

.969906

.948181

 

 

5

6

.962526

.940965

 

 

6

7

.955201

.933805

 

 

7

8

.947932

 

 

 

8

9

.940718

 

 

 

9

10

.933560

 

 

 

10

11

.926455

 

 

 

11

12

.919405

 

 

 

12

 

.912409

 

 

 

Table F(9.8) - With Interest at 9.8 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.977165

.965878

.958402

1

2

.992239

.969582

.958382

.950964

2

3

.984539

.962057

.950945

 

3

4

.976898

.954591

.943565

 

4

5

.969317

.947183

 

 

5

6

.961795

.939832

 

 

6

7

.954331

.932539

 

 

7

8

.946924

 

 

 

8

9

.939576

 

 

 

9

10

.932284

 

 

 

10

11

.925049

 

 

 

11

12

.917870

 

 

 

12

 

.910747

 

 

 

Table F(10.0) - With Interest at 10.0 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.976731

.965232

.957616

1

2

.992089

.969004

.957596

.950041

2

3

.984240

.961338

.950021

 

3

4

.976454

.953733

.942505

 

4

5

.968729

.946188

 

 

5

6

.961066

.938703

 

 

6

7

.953463

.931277

 

 

7

8

.945920

 

 

 

8

9

.938436

 

 

 

9

10

.931012

 

 

 

10

11

.923647

 

 

 

11

12

.916340

 

 

 

12

 

.909091

 

 

 

Table F(10.2) - With Interest at 10.2 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.976298

.964588

.956833

1

2

.991939

.968428

.956812

.949120

2

3

.983943

.960622

.949099

 

3

4

.976011

.952878

.941448

 

4

5

.968143

.945196

 

 

5

6

.960338

.937577

 

 

6

7

.952597

.930019

 

 

7

8

.944918

 

 

 

8

9

.937301

 

 

 

9

10

.929745

 

 

 

10

11

.922250

 

 

 

11

12

.914816

 

 

 

12

 

.907441

 

 

 

Table F(10.4) - With Interest at 10.4 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.975867

.963946

.956052

1

2

.991789

.967854

.956031

.948202

2

3

.983645

.959907

.948181

 

3

4

.975568

.952025

.940395

 

4

5

.967558

.944208

 

 

5

6

.959613

.936455

 

 

6

7

.951734

.928765

 

 

7

8

.943919

 

 

 

8

9

.936168

 

 

 

9

10

.928481

 

 

 

10

11

.920858

 

 

 

11

12

.913296

 

 

 

12

 

.905797

 

 

 

Table F(10.6) - With Interest at 10.6 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.975436

.963305

.955274

1

2

.991639

.967281

.955252

.947287

2

3

.983349

.959194

.947265

 

3

4

.975127

.951174

.939345

 

4

5

.966974

.943222

 

 

5

6

.958890

.935336

 

 

6

7

.950873

.927516

 

 

7

8

.942923

 

 

 

8

9

.935039

 

 

 

9

10

.927222

 

 

 

10

11

.919470

 

 

 

11

12

.911782

 

 

 

12

 

.904159

 

 

 

Table F(10.8) - With Interest at 10.8 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.975007

.962667

.954498

1

2

.991490

.966710

.954475

.946375

2

3

.983052

.958483

.946352

 

3

4

.974687

.950327

.938299

 

4

5

.966392

.942239

 

 

5

6

.958168

.934221

 

 

6

7

.950014

.926271

 

 

7

8

.941930

 

 

 

8

9

.933914

 

 

 

9

10

.925966

 

 

 

10

11

.918086

 

 

 

11

12

.910273

 

 

 

12

 

.902527

 

 

 

Table F(11.0) - With Interest at 11.0 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.974579

.962030

.953724

1

2

.991341

.966140

.953700

.945466

2

3

.982757

.957774

.945442

 

3

4

.974247

.949481

.937255

 

4

5

.965811

.941260

 

 

5

6

.957449

.933109

 

 

6

7

.949158

.925029

 

 

7

8

.940939

 

 

 

8

9

.932792

 

 

 

9

10

.924715

 

 

 

10

11

.916708

 

 

 

11

12

.908770

 

 

 

12

 

.900901

 

 

 

Table F(11.2) - With Interest at 11.2 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.974152

.961395

.952952

1

2

.991192

.965572

.952927

.944559

2

3

.982462

.957068

.944534

 

3

4

.973809

.948638

.936215

 

4

5

.965232

.940283

 

 

5

6

.956731

.932001

 

 

6

7

.948304

.923792

 

 

7

8

.939952

 

 

 

8

9

.931673

 

 

 

9

10

.923467

 

 

 

10

11

.915333

 

 

 

11

12

.907272

 

 

 

12

 

.899281

 

 

 

Table F(11.4) - With Interest at 11.4 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.973726

.960762

.952183

1

2

.991044

.965005

.952157

.943655

2

3

.982168

.956363

.943630

 

3

4

.973372

.947798

.935178

 

4

5

.964654

.939309

 

 

5

6

.956015

.930896

 

 

6

7

.947452

.922559

 

 

7

8

.938967

 

 

 

8

9

.930557

 

 

 

9

10

.922223

 

 

 

10

11

.913964

 

 

 

11

12

.905778

 

 

 

12

 

.897666

 

 

 

Table F(11.6) - With Interest at 11.6 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.973302

.960130

.951416

1

2

.990896

.964440

.951389

.942754

2

3

.981874

.955660

.942728

 

3

4

.972935

.946959

.934145

 

4

5

.964077

.938338

 

 

5

6

.955300

.929795

 

 

6

7

.946603

.921330

 

 

7

8

.937985

 

 

 

8

9

.929445

 

 

 

9

10

.920984

 

 

 

10

11

.912599

 

 

 

11

12

.904290

 

 

 

12

 

.896057

 

 

 

Table F(11.8) - With Interest at 11.8 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.972878

.959501

.950651

1

2

.990748

.963877

.950624

.941855

2

3

.981582

.954959

.941828

 

3

4

.972500

.946124

.933114

 

4

5

.963502

.937370

 

 

5

6

.954588

.928698

 

 

6

7

.945756

.920105

 

 

7

8

.937006

 

 

 

8

9

.928337

 

 

 

9

10

.919748

 

 

 

10

11

.911238

 

 

 

11

12

.902807

 

 

 

12

 

.894454

 

 

 

Table F(12.0) - With Interest at 12.0 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.972456

.958873

.949888

1

2

.990600

.963315

.949860

.940960

2

3

.981289

.954260

.940932

 

3

4

.972065

.945290

.932087

 

4

5

.962928

.936405

 

 

5

6

.953877

.927603

 

 

6

7

.944911

.918884

 

 

7

8

.936029

 

 

 

8

9

.927231

 

 

 

9

10

.918515

 

 

 

10

11

.909882

 

 

 

11

12

.901329

 

 

 

12

 

.892857

 

 

 

Table F(12.2) - With Interest at 12.2 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.972034

.958247

.949128

1

2

.990453

.962754

.949099

.940067

2

3

.980997

.953563

.940038

 

3

4

.971632

.944460

.931063

 

4

5

.962356

.935443

 

 

5

6

.953168

.926512

 

 

6

7

.944069

.917667

 

 

7

8

.935056

 

 

 

8

9

.926129

 

 

 

9

10

.917287

 

 

 

10

11

.908530

 

 

 

11

12

.899856

 

 

 

12

 

.891266

 

 

 

Table F(12.4) - With Interest at 12.4 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.971614

.957623

.948370

1

2

.990306

.962195

.948340

.939176

2

3

.980706

.952868

.939147

 

3

4

.971199

.943631

.930043

 

4

5

.961785

.934484

 

 

5

6

.952461

.925425

 

 

6

7

.943228

.916454

 

 

7

8

.934085

 

 

 

8

9

.925030

 

 

 

9

10

.916063

 

 

 

10

11

.907183

 

 

 

11

12

.898389

 

 

 

12

 

.889680

 

 

 

Table F(12.6) - With Interest at 12.4 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.971195

.957000

.947614

1

2

.990159

.961638

.947583

.938289

2

3

.980416

.952175

.938258

 

3

4

.970768

.942805

.929025

 

4

5

.961215

.933527

 

 

5

6

.951756

.924341

 

 

6

7

.942390

.915245

 

 

7

8

.933117

 

 

 

8

9

.923934

 

 

 

9

10

.914842

 

 

 

10

11

.905840

 

 

 

11

12

.896926

 

 

 

12

 

.888099

 

 

 

Table F(12.8) - With Interest at 12.8 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.970777

.956379

.946860

1

2

.990013

.961082

.946828

.937403

2

3

.980126

.951484

.937372

 

3

4

.970337

.941981

.928011

 

4

5

.960647

.932574

 

 

5

6

.951053

.923260

 

 

6

7

.941554

.914040

 

 

7

8

.932151

 

 

 

8

9

.922842

 

 

 

9

10

.913625

 

 

 

10

11

.904501

 

 

 

11

12

.895468

 

 

 

12

 

.886525

 

 

 

Table F(13.0) - With Interest at 13.0 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.970360

.955760

.946108

1

2

.989867

.960528

.946075

.936521

2

3

.979836

.950795

.936489

 

3

4

.969908

.941160

.926999

 

4

5

.960079

.931623

 

 

5

6

.950351

.922183

 

 

6

7

.940721

.912838

 

 

7

8

.931188

 

 

 

8

9

.921753

 

 

 

9

10

.912412

 

 

 

10

11

.903167

 

 

 

11

12

.894015

 

 

 

12

 

.884956

 

 

 

Table F(13.2) - With Interest at 13.2 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.969945

.955143

.945359

1

2

.989721

.959975

.945325

.935641

2

3

.979548

.950107

.935608

 

3

4

.969479

.940341

.925991

 

4

5

.959514

.930675

 

 

5

6

.949651

.921109

 

 

6

7

.939889

.911641

 

 

7

8

.930228

 

 

 

8

9

.920667

 

 

 

9

10

.911203

 

 

 

10

11

.901837

 

 

 

11

12

.892567

 

 

 

12

 

.883392

 

 

 

Table F(13.4) - With Interest at 13.4 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.969530

.954527

.944611

1

2

.989575

.959423

.944577

.934764

2

3

.979260

.949422

.934730

 

3

4

.969051

.939524

.924986

 

4

5

.958949

.929730

 

 

5

6

.948953

.920038

 

 

6

7

.939060

.910447

 

 

7

8

.929271

 

 

 

8

9

.919584

 

 

 

9

10

.909998

 

 

 

10

11

.900511

 

 

 

11

12

.891124

 

 

 

12

 

.881834

 

 

 

Table F(13.6) - With Interest at 13.6 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.969117

.953913

.943866

1

2

.989430

.958873

.943831

.933890

2

3

.978972

.948738

.933854

 

3

4

.968624

.938710

.923984

 

4

5

.958386

.928788

 

 

5

6

.948256

.918971

 

 

6

7

.938233

.909257

 

 

7

8

.928316

 

 

 

8

9

.918504

 

 

 

9

10

.908796

 

 

 

10

11

.899190

 

 

 

11

12

.889686

 

 

 

12

 

.880282

 

 

 

Table F(13.8) - With Interest at 13.8 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.968704

.953301

.943123

1

2

.989285

.958325

.943087

.933018

2

3

.978685

.948056

.932982

 

3

4

.968199

.937898

.922985

 

4

5

.957824

.927849

 

 

5

6

.947561

.917907

 

 

6

7

.937408

.908072

 

 

7

8

.927364

 

 

 

8

9

.917428

 

 

 

9

10

.907598

 

 

 

10

11

.897873

 

 

 

11

12

.888252

 

 

 

12

 

.878735

 

 

 

Table F(14.0) - With Interest at 14.0 Percent, Showing Factors for Computation of the Adjusted Payout Rate for Certain Valuations

[Applicable after April 30, 1989]

1

Number of months by which the valuation date for the first full taxable year of the trust precedes the first payout

2

Factors for payout at the end of each period

At least

But less than

Annual period

Semiannual period

Quarterly period

Monthly period

 

1

1.000000

.968293

.952691

.942382

1

2

.989140

.957778

.942345

.932148

2

3

.978399

.947377

.932111

 

3

4

.967774

.937088

.921989

 

4

5

.957264

.926912

 

 

5

6

.946868

.916846

 

 

6

7

.936586

.906889

 

 

7

8

.926415

 

 

 

8

9

.916354

 

 

 

9

10

.906403

 

 

 

10

11

.896560

 

 

 

11

12

.886824

 

 

 

12

 

.877193

 

 

 

(7) Actuarial Table U(1) for transfers for which the valuation date is on or after June 1, 2023. The present value of a remainder interest in a charitable remainder unitrust that is dependent on the termination of a life interest is determined by using the section 7520 rate, Tables F(0.2) through (20.0) (see paragraph (e)(6)(ii) of this section), and the formula in paragraph (e)(5)(i) of this section to derive a remainder factor from the appropriate mortality table to at least five decimal places. For the convenience of taxpayers, actuarial factors have been computed by the IRS and appear in Table U(1). For transfers for which the valuation date is on or after June 1, 2023, the actuarial tables are currently available, at no charge, electronically via the IRS website at https://www.irs.gov/retirement-plans/actuarial-tables. These actuarial tables are referenced and explained by IRS Publication 1458, Actuarial Valuations Version 4B (2023). This publication will be available within a reasonable time after June 1, 2023. See, however, §1.7520-3(b) (relating to exceptions to the use of prescribed tables under certain circumstances).

(f) Applicability date. This section applies on and after June 1, 2023.

[T.D. 7202, 37 FR 16922, Aug. 23, 1972; corrected at 38 FR 12918, May 17, 1973, and 38 FR 14370, June 1, 1973, as amended by T.D. 7955, 49 FR 19983, May 11, 1984; T.D. 8540, 59 FR 30100-30179, June 10, 1994; T.D. 8819, 64 FR 23187-23229, Apr. 30, 1999; T.D. 8886, 64 FR 36907-36944, June 12, 2000; T.D. 9448, 74 FR 21438-21518, May 7, 2009; T.D. 9540, 76 FR 49570-49643, Aug. 10, 2011; T.D. 9974, 88 FR 37424-37466, June 7, 2023.]

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