Filing Due Dates and Covering Periods
For all trusts, fiduciaries must file an inventory of the assets in the trust with the commissioner’s office within four months from the date of qualification or first funding of the trust, whichever is later. Note that a devise of real estate to the trust funds the trust upon the decedent’s death.
All trustees, including trustees of testamentary trusts, minor’s trusts under court supervision and special needs trusts, must file an account of the financial activities in the first calendar year from initial funding through December 31 on or before May 1 of the year following qualification. Thereafter, accounts are due annually on or before May 1 reporting financial activities during the prior calendar year.
Under certain limited conditions, testamentary trustees may file a waiver of inventory and accounts pursuant to Virginia Code § 64.2-1307. If you wish to seek such a waiver, you should seek legal advice to determine whether you qualify. Copies of waiver forms are available on this website.
Copies of the approved form for a trust inventory and account, together with instructions for each form, are available at the Forms link.
Original signatures by all fiduciaries are required on all filings. Endorsements in blue ink are preferred for easier verification.