N-2015-67: Per Capita Distributions of Funds Held in Trust by the Secretary of the Interior

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September 18, 2015

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Issue Number: N-2015-67

Inside This Issue

Notice 2015-67 finalizes and supersedes Notice 2014-17. It provides a general rule that per capita distributions to Indian tribe members made from funds held in trust by the Secretary of the Interior (“Trust Account”) are excluded from the gross income of the members of the tribe receiving the per capita distributions. This notice also provides an exception to the general rule. Distributions to tribal members from a Trust Account will constitute gross income under 26 U.S.C. § 61 to the members of the tribe receiving the distributions if the Trust Account is used to mischaracterize taxable income as nontaxable per capita distributions.

It will appear in IRB 2015-41 dated Oct. 13, 2015.

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