A trust will be considered to be actively engaged in farming with respect to a farming operation if:

The trust independently and separately makes a significant contribution to the farming operation of capital, equipment, or land, or a combination of capital, equipment, or land;

The income beneficiaries collectively make a significant contribution of active personal labor or active personal management, or a combination of active personal labor and active personal management to the farming operation. The combined interest of all the income beneficiaries providing active personal labor or active personal management, or a combination of active personal labor and active personal management, must be at least 50 percent;

The trust has a share of the profits or losses from the farming operation commensurate with the legal entity's contributions to the operation;

The trust makes contributions to the farming operation that are at risk for a loss, with the level of risk being commensurate with the legal entity's claimed share of the farming operation;

For a farming operation conducted by a trust in which the capital, land, or equipment is contributed by the trust, such capital, land, or equipment:

To meet the requirements of paragraph (a) of this section, must be contributed directly by the trust and must not be acquired as a loan made to, guaranteed, co-signed, or secured by:

Any person, legal entity, or joint operation that has an interest in such farming operation, including the trust's income beneficiaries;

Such joint operation by any person, legal entity, or other joint operation that has an interest in such farming operation; or

Any person, legal entity, or joint operation in whose farming operation such trust has an interest, and

To meet the requirements of paragraphs (c) and (d) of this section and if land, capital or equipment is acquired as a result of a loan made to, guaranteed, co-signed, or secured by the persons, legal entities, or joint operations as defined, the loan must:

Bear the prevailing interest rate; and

Have a repayment schedule considered reasonable and customary for the area.

The trust has provided a tax identification number of the trust unless the trust is a revocable trust and the grantor is the sole income beneficiary; and

The trust has provided a copy of the trust agreement to the county committee unless the trust is a revocable trust.