applicable multi-beneficiary trust

Defined in 1 dictionary — U.S. Code

United States Code

26 U.S.C. § 401 — for purposes of this title (10 versions over time)

For purposes of this subparagraph, the term “applicable multi-beneficiary trust” means a trust—

(I) which has more than one beneficiary,

(II) all of the beneficiaries of which are treated as designated beneficiaries for purposes of determining the distribution period pursuant to this paragraph, and

(III) at least one of the beneficiaries of which is an eligible designated beneficiary described in subclause (III) or (IV) of subparagraph (E)(ii).