DEFINITION of 'Charge And Discharge Statement'

An accounting statement for an account or estate over which someone has fiduciary responsibility. Charge and Discharge statements ultimately reconcile all distributions of income and principal going into and out of the account or estate. Thus the fiduciary is given a clear snapshot of the cash flow that he or she is administrating.

BREAKING DOWN 'Charge And Discharge Statement'

Charge and Discharge Statements first list all of the charges of principal that are paid on the principal in the account or estate. Then they delineate the discharges, or fees and expenses, related to principal that are paid out. Then the statement repeats this process for income that is received and paid. These statements typically record such items as administrative fees and expenses, income taxes and investment income.

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