{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/64.2-1074.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/64.2-1074.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/64.2-1074.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/64.2-1074.html"}],"law_id":58195,"edition_id":1,"section_id":58195,"structure_id":15286,"section_number":"64.2-1074","catch_line":"Apportionment of receipts and disbursements when decedent dies or income interest begins","history":"2022, c. 354.","full_text":"A\n\nA fiduciary shall allocate an income receipt or disbursement, other than a receipt to which subsection B of \u00a7 64.2-1071 applies, to principal if its due date occurs before the date on which:1\n\nFor an estate, the decedent died; or2\n\nFor a trust or successive interest, an income interest begins.B\n\nIf the due date of a periodic income receipt or disbursement occurs on or after the date on which a decedent died or an income interest begins, a fiduciary shall allocate the receipt or disbursement to income.C\n\nIf an income receipt or disbursement is not periodic or has no due date, a fiduciary shall treat the receipt or disbursement under this section as accruing from day to day. The fiduciary shall allocate to principal the portion of the receipt or disbursement accruing before the date on which a decedent died or an income interest begins and to income the balance.D\n\nA receipt or disbursement is periodic under subsections B and C if:1\n\nThe receipt or disbursement must be paid at regular intervals under an obligation to make payments; or2\n\nThe payor customarily makes payments at regular intervals.E\n\nAn item of income or obligation is due under this section on the date the payor is required to make a payment. If a payment date is not stated, there is no due date.F\n\nDistributions to shareholders or other owners from an entity to which \u00a7 64.2-1048 applies are due:1\n\nOn the date fixed by or on behalf of the entity for determining the persons entitled to receive the distribution;2\n\nIf no date is fixed, on the date of the decision by or on behalf of the entity to make the distribution; or3\n\nIf no date is fixed and the fiduciary does not know the date of the decision by or on behalf of the entity to make the distribution, on the date the fiduciary learns of the decision.","order_by":null,"text":{"0":{"id":213271,"text":"A fiduciary shall allocate an income receipt or disbursement, other than a receipt to which subsection B of \u00a7 64.2-1071 applies, to principal if its due date occurs before the date on which:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":213272,"text":"For an estate, the decedent died; or","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":213273,"text":"For a trust or successive interest, an income interest begins.","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"B"},"3":{"id":213274,"text":"If the due date of a periodic income receipt or disbursement occurs on or after the date on which a decedent died or an income interest begins, a fiduciary shall allocate the receipt or disbursement to income.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A2","next_prefix":"C"},"4":{"id":213275,"text":"If an income receipt or disbursement is not periodic or has no due date, a fiduciary shall treat the receipt or disbursement under this section as accruing from day to day. The fiduciary shall allocate to principal the portion of the receipt or disbursement accruing before the date on which a decedent died or an income interest begins and to income the balance.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"5":{"id":213276,"text":"A receipt or disbursement is periodic under subsections B and C if:","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"D1"},"6":{"id":213277,"text":"The receipt or disbursement must be paid at regular intervals under an obligation to make payments; or","type":"section","prefixes":["D","1"],"prefix":"1","entire_prefix":"D1","prefix_anchor":"D1","level":2,"prior_prefix":"D","next_prefix":"D2"},"7":{"id":213278,"text":"The payor customarily makes payments at regular intervals.","type":"section","prefixes":["D","2"],"prefix":"2","entire_prefix":"D2","prefix_anchor":"D2","level":2,"prior_prefix":"D1","next_prefix":"E"},"8":{"id":213279,"text":"An item of income or obligation is due under this section on the date the payor is required to make a payment. If a payment date is not stated, there is no due date.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D2","next_prefix":"F"},"9":{"id":213280,"text":"Distributions to shareholders or other owners from an entity to which \u00a7 64.2-1048 applies are due:","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E","next_prefix":"F1"},"10":{"id":213281,"text":"On the date fixed by or on behalf of the entity for determining the persons entitled to receive the distribution;","type":"section","prefixes":["F","1"],"prefix":"1","entire_prefix":"F1","prefix_anchor":"F1","level":2,"prior_prefix":"F","next_prefix":"F2"},"11":{"id":213282,"text":"If no date is fixed, on the date of the decision by or on behalf of the entity to make the distribution; or","type":"section","prefixes":["F","2"],"prefix":"2","entire_prefix":"F2","prefix_anchor":"F2","level":2,"prior_prefix":"F1","next_prefix":"F3"},"12":{"id":213283,"text":"If no date is fixed and the fiduciary does not know the date of the decision by or on behalf of the entity to make the distribution, on the date the fiduciary learns of the decision.","type":"section","prefixes":["F","3"],"prefix":"3","entire_prefix":"F3","prefix_anchor":"F3","level":2,"prior_prefix":"F2"}},"ancestry":[{"id":15286,"edition_id":1,"name":"Apportionment at Beginning and End of Income Interest","identifier":"9","label":"article","depth":4,"order_by":1,"parent_id":13478,"metadata":{},"date_created":"2026-06-26 03:53:38","date_modified":"2026-06-26 03:53:38","permalink":{"id":274055,"object_type":"structure","relational_id":15286,"identifier":"9","token":"64.2\/III\/10.1\/9","url":"\/64.2\/III\/10.1\/9\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13478,"edition_id":1,"name":"Uniform Fiduciary Income And Principal Act","identifier":"10.1","label":"chapter","depth":3,"order_by":1,"parent_id":12724,"metadata":{},"date_created":"2026-06-26 03:44:58","date_modified":"2026-06-26 03:44:58","permalink":{"id":273863,"object_type":"structure","relational_id":13478,"identifier":"10.1","token":"64.2\/III\/10.1","url":"\/64.2\/III\/10.1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12724,"edition_id":1,"name":"Trusts","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12723,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":273811,"object_type":"structure","relational_id":12724,"identifier":"III","token":"64.2\/III","url":"\/64.2\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12723,"edition_id":1,"name":"Wills, Trusts, and Fiduciaries","identifier":"64.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":272781,"object_type":"structure","relational_id":12723,"identifier":"64.2","token":"64.2","url":"\/64.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":62227,"structure_id":15286,"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":58195,"structure_id":15286,"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":60440,"structure_id":15286,"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":62227,"structure_id":15286,"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},"next_section":{"id":60440,"structure_id":15286,"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/64.2-1074\/","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":[{"id":59116,"section_number":"64.2-1048","catch_line":"Character of receipts from entity","order_by":null,"url":"\/64.2-1048\/"},{"id":68355,"section_number":"64.2-1071","catch_line":"Determination and distribution of net income","order_by":null,"url":"\/64.2-1071\/"}],"permalink":{"id":274061,"object_type":"law","relational_id":58195,"identifier":"64.2-1074","token":"64.2\/III\/10.1\/9\/64.2-1074","url":"\/64.2-1074\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/64.2-1074\/","token":"64.2\/III\/10.1\/9\/64.2-1074","dublin_core":{"Title":"Apportionment of receipts and disbursements when decedent dies or income interest begins","Type":"Text","Format":"text\/html","Identifier":"\u00a7 64.2-1074","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> A fiduciary<\/span> shall allocate an income<\/span> receipt or disbursement, other than a receipt to which subsection B of \u00a7 64.2-1071<\/a> applies, to principal<\/span> if its due date occurs before the date on which: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> For an estate<\/span>, the decedent died; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> For a trust<\/span> or successive interest<\/span>, an income interest<\/span> begins. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> If the due date of a periodic income receipt or disbursement occurs on or after the date on which a decedent died or an income interest<\/span> begins, a fiduciary<\/span> shall allocate the receipt or disbursement to income. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> If an income receipt or disbursement is not periodic or has no due date, a fiduciary<\/span> shall treat the receipt or disbursement under this section as accruing from day to day. The fiduciary<\/span> shall allocate to principal<\/span> the portion of the receipt or disbursement accruing before the date on which a decedent died or an income interest<\/span> begins and to income the balance. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> A receipt or disbursement is periodic under subsections B and C if: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The receipt or disbursement must be paid at regular intervals under an obligation to make payments; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The payor customarily makes payments at regular intervals. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> An item of income or obligation is due under this section on the date the payor is required to make a payment. If a payment date is not stated, there is no due date. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> Distributions<\/span> to shareholders or other owners from an entity to which \u00a7 64.2-1048<\/a> applies are due: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> On the date fixed by or on behalf of the entity for determining the persons<\/span> entitled to receive the distribution<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> If no date is fixed, on the date of the decision by or on behalf of the entity to make the distribution<\/span>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> If no date is fixed and the fiduciary<\/span> does not know the date of the decision by or on behalf of the entity to make the distribution<\/span>, on the date the fiduciary<\/span> learns of the decision. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nAPPORTIONMENT OF RECEIPTS AND DISBURSEMENTS WHEN DECEDENT DIES OR INCOME\nINTEREST BEGINS (\u00a7 64.2-1074)\n\nA. A fiduciary shall allocate an income receipt or disbursement, other than a\nreceipt to which subsection B of \u00a7 64.2-1071 applies, to principal if its due\ndate occurs before the date on which:\n\n 1. For an estate, the decedent died; or\n\n 2. For a trust or successive interest, an income interest begins.\n\nB. If the due date of a periodic income receipt or disbursement occurs on or\nafter the date on which a decedent died or an income interest begins, a\nfiduciary shall allocate the receipt or disbursement to income.\n\nC. If an income receipt or disbursement is not periodic or has no due date, a\nfiduciary shall treat the receipt or disbursement under this section as accruing\nfrom day to day. The fiduciary shall allocate to principal the portion of the\nreceipt or disbursement accruing before the date on which a decedent died or an\nincome interest begins and to income the balance.\n\nD. A receipt or disbursement is periodic under subsections B and C if:\n\n 1. The receipt or disbursement must be paid at regular intervals under an\n obligation to make payments; or\n\n 2. The payor customarily makes payments at regular intervals.\n\nE. An item of income or obligation is due under this section on the date the\npayor is required to make a payment. If a payment date is not stated, there is\nno due date.\n\nF. Distributions to shareholders or other owners from an entity to which \u00a7\n64.2-1048 applies are due:\n\n 1. On the date fixed by or on behalf of the entity for determining the persons\n entitled to receive the distribution;\n\n 2. If no date is fixed, on the date of the decision by or on behalf of the\n entity to make the distribution; or\n\n 3. If no date is fixed and the fiduciary does not know the date of the\n decision by or on behalf of the entity to make the distribution, on the date\n the fiduciary learns of the decision.\n\nHISTORY: 2022, c. 354.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}