Sec. 1.6644 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 1.6643) 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 §20.20317(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 §20.20317A(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 §20.20317A(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 20.20317A(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 1.6643(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 1.75201(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 §1.6643) 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 §1.6643) 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  
  010152  
123151  010171  
123170  120183  
113083  050189  
043089  050199  
043099  050109  
043009  060123 
(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 §1.6643(a)(1)(v). See, however, §1.75203(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 §§1.75201(b) and 1.75202(a)(2)) and the appropriate actuarial factors derived from the selected mortality table, either Table 2010CM in §20.20317(d)(7)(ii) of this chapter or Table 2000CM in §20.20317A(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/retirementplans/actuarialtables (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 1.6643(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 1.6643(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 1.75202(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 1.75202(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 §1.6643(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 §20.20317(d)(7)(ii) of this chapter, or for periods before June 1, 2023, the appropriate table found in §20.20317A 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/retirementplans/actuarialtables (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 §1.6644(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.
(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)
Age  4.8%  5.0%  5.2% 

77  0.61491  0.60343  0.59223 
# 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).
(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/retirementplans/actuarialtables (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, §1.75203(b) (relating to exceptions to the use of prescribed tables under certain circumstances).
(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/retirementplans/actuarialtables (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.
(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/retirementplans/actuarialtables. 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, §1.75203(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 3010030179, June 10, 1994; T.D. 8819, 64 FR 2318723229, Apr. 30, 1999; T.D. 8886, 64 FR 3690736944, June 12, 2000; T.D. 9448, 74 FR 2143821518, May 7, 2009; T.D. 9540, 76 FR 4957049643, Aug. 10, 2011; T.D. 9974, 88 FR 3742437466, June 7, 2023.]