{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/64.2-1075.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/64.2-1075.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/64.2-1075.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/64.2-1075.html"}],"law_id":375819,"edition_id":2,"section_id":375819,"structure_id":53448,"section_number":"64.2-1075","catch_line":"Apportionment when income interest ends","history":"2022, c. 354.","full_text":"A\n\nAs used in this section, “undistributed income” means net income received on or before the date on which an income interest ends. “Undistributed income” does not include an item of income or expense that is due or accrued or net income that has been added or is required to be added to principal under the terms of the trust.\n\nB\n\nExcept as otherwise provided in subsection C, when a mandatory income interest of a beneficiary ends, the fiduciary shall pay the beneficiary’s share of the undistributed income that is not disposed of under the terms of the trust to the beneficiary or, if the beneficiary does not survive the date the interest ends, to the beneficiary’s estate.\n\nC\n\nIf a beneficiary has an unqualified power to withdraw more than five percent of the value of a trust immediately before an income interest ends:\n\n1\n\nThe fiduciary shall allocate to principal the undistributed income from the portion of the trust which may be withdrawn; and\n\n2\n\nSubsection B applies only to the balance of the undistributed income.\n\nD\n\nWhen a fiduciary’s obligation to pay a fixed annuity or a fixed fraction of the value of assets ends, the fiduciary shall prorate the final payment as required to preserve an income tax, gift tax, estate tax, or other tax benefit.\n\n","order_by":null,"text":{"0":{"id":1403168,"text":"As used in this section, “undistributed income” means net income received on or before the date on which an income interest ends. “Undistributed income” does not include an item of income or expense that is due or accrued or net income that has been added or is required to be added to principal under the terms of the trust.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":1403169,"text":"Except as otherwise provided in subsection C, when a mandatory income interest of a beneficiary ends, the fiduciary shall pay the beneficiary’s share of the undistributed income that is not disposed of under the terms of the trust to the beneficiary or, if the beneficiary does not survive the date the interest ends, to the beneficiary’s estate.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":1403170,"text":"If a beneficiary has an unqualified power to withdraw more than five percent of the value of a trust immediately before an income interest ends:","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"C1"},"3":{"id":1403171,"text":"The fiduciary shall allocate to principal the undistributed income from the portion of the trust which may be withdrawn; and","type":"section","prefixes":["C","1"],"prefix":"1","entire_prefix":"C1","prefix_anchor":"C1","level":2,"prior_prefix":"C","next_prefix":"C2"},"4":{"id":1403172,"text":"Subsection B applies only to the balance of the undistributed income.","type":"section","prefixes":["C","2"],"prefix":"2","entire_prefix":"C2","prefix_anchor":"C2","level":2,"prior_prefix":"C1","next_prefix":"D"},"5":{"id":1403173,"text":"When a fiduciary’s obligation to pay a fixed annuity or a fixed fraction of the value of assets ends, the fiduciary shall prorate the final payment as required to preserve an income tax, gift tax, estate tax, or other tax benefit.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C2"}},"ancestry":[{"id":53448,"edition_id":2,"name":"Apportionment at Beginning and End of Income Interest","identifier":"9","label":"article","depth":4,"order_by":9,"parent_id":53439,"metadata":{"child_laws":3,"child_structures":0},"date_created":"2026-08-02 03:16:34","date_modified":"2026-08-02 12:37:18","permalink":{"id":1501057,"object_type":"structure","relational_id":53448,"identifier":"9","token":"64.2\/III\/10.1\/9","url":"\/64.2\/III\/10.1\/9\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53439,"edition_id":2,"name":"Uniform Fiduciary Income And Principal Act","identifier":"10.1","label":"chapter","depth":3,"order_by":4,"parent_id":53428,"metadata":{"child_laws":46,"child_structures":10},"date_created":"2026-08-02 03:16:28","date_modified":"2026-08-02 12:37:16","permalink":{"id":1500865,"object_type":"structure","relational_id":53439,"identifier":"10.1","token":"64.2\/III\/10.1","url":"\/64.2\/III\/10.1\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53428,"edition_id":2,"name":"Trusts","identifier":"III","label":"subtitle","depth":2,"order_by":3,"parent_id":53424,"metadata":{"child_laws":232,"child_structures":36},"date_created":"2026-08-02 03:16:27","date_modified":"2026-08-02 12:37:10","permalink":{"id":1500813,"object_type":"structure","relational_id":53428,"identifier":"III","token":"64.2\/III","url":"\/64.2\/III\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53424,"edition_id":2,"name":"Wills, Trusts, and Fiduciaries","identifier":"64.2","label":"title","depth":1,"order_by":136,"parent_id":null,"metadata":{"child_laws":776,"child_structures":114},"date_created":"2026-08-02 03:16:27","date_modified":"2026-08-02 12:37:05","permalink":{"id":1499783,"object_type":"structure","relational_id":53424,"identifier":"64.2","token":"64.2","url":"\/64.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":375817,"structure_id":53448,"section_number":"64.2-1073","catch_line":"When right to income begins and ends","url":"\/64.2-1073\/","token":"64.2\/III\/10.1\/9\/64.2-1073","metadata":false},{"id":375818,"structure_id":53448,"section_number":"64.2-1074","catch_line":"Apportionment of receipts and disbursements when decedent dies or income interest begins","url":"\/64.2-1074\/","token":"64.2\/III\/10.1\/9\/64.2-1074","metadata":false},{"id":375819,"structure_id":53448,"section_number":"64.2-1075","catch_line":"Apportionment when income interest ends","url":"\/64.2-1075\/","token":"64.2\/III\/10.1\/9\/64.2-1075","metadata":false}],"previous_section":{"id":375818,"structure_id":53448,"section_number":"64.2-1074","catch_line":"Apportionment of receipts and disbursements when decedent dies or income interest begins","url":"\/64.2-1074\/","token":"64.2\/III\/10.1\/9\/64.2-1074","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/64.2-1075\/","history_text":"

This law was first created in 2022. The record of its establishment is cataloged in chapter 354<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":false,"permalink":{"id":1501067,"object_type":"law","relational_id":375819,"identifier":"64.2-1075","token":"64.2\/III\/10.1\/9\/64.2-1075","url":"\/64.2-1075\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/64.2-1075\/","token":"64.2\/III\/10.1\/9\/64.2-1075","dublin_core":{"Title":"Apportionment when income interest ends","Type":"Text","Format":"text\/html","Identifier":"\u00a7 64.2-1075","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> As used in this section, “undistributed income<\/span>” means net income<\/span> received on or before the date on which an income interest<\/span> ends. “Undistributed income<\/span>” does not include an item of income or expense that is due or accrued or net income<\/span> that has been added or is required to be added to principal<\/span> under the terms of the trust<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Except as otherwise provided in subsection C, when a mandatory income interest<\/span> of a beneficiary ends, the fiduciary<\/span> shall pay the beneficiary’s share of the undistributed income<\/span> that is not disposed of under the terms of the trust<\/span> to the beneficiary or, if the beneficiary does not survive the date the interest ends, to the beneficiary’s estate<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> If a beneficiary has an unqualified power to withdraw more than five percent of the value<\/span> of a trust<\/span> immediately before an income interest ends: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The fiduciary<\/span> shall allocate to principal<\/span> the undistributed income<\/span> from the portion of the trust<\/span> which may be withdrawn; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Subsection B applies only to the balance of the undistributed income<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> When a fiduciary<\/span>’s obligation to pay a fixed annuity or a fixed fraction of the value<\/span> of assets<\/span> ends, the fiduciary<\/span> shall prorate the final payment as required to preserve an income tax, gift tax, estate<\/span> tax, or other tax benefit. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nAPPORTIONMENT WHEN INCOME INTEREST ENDS (\u00a7 64.2-1075)\n\nA. As used in this section, “undistributed income” means net income\nreceived on or before the date on which an income interest ends.\n“Undistributed income” does not include an item of income or expense\nthat is due or accrued or net income that has been added or is required to be\nadded to principal under the terms of the trust.\n\nB. Except as otherwise provided in subsection C, when a mandatory income\ninterest of a beneficiary ends, the fiduciary shall pay the beneficiary’s\nshare of the undistributed income that is not disposed of under the terms of the\ntrust to the beneficiary or, if the beneficiary does not survive the date the\ninterest ends, to the beneficiary’s estate.\n\nC. If a beneficiary has an unqualified power to withdraw more than five percent\nof the value of a trust immediately before an income interest ends:\n\n 1. The fiduciary shall allocate to principal the undistributed income from the\n portion of the trust which may be withdrawn; and\n\n 2. Subsection B applies only to the balance of the undistributed income.\n\nD. When a fiduciary’s obligation to pay a fixed annuity or a fixed\nfraction of the value of assets ends, the fiduciary shall prorate the final\npayment as required to preserve an income tax, gift tax, estate tax, or other\ntax benefit.\n\nHISTORY: 2022, c. 354.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}