N.Y. Estates, Powers & Trusts Law Section 9-2.1
Rules governing accumulations

§ 9-2.1 Rules governing accumulations (a) All directions for the accumulation of income are void unless authorized by statute.

(b)

A direction for the accumulation of income is valid if such accumulation is to begin and terminate within the time allowed by the rule against perpetuities. An accumulation directed to continue for a period extending beyond the expiration of such time terminates upon such expiration.

(c)

Where property is disposed of in trust for any religious, charitable, educational or benevolent purpose and no valid future estate, except for a similar purpose, is created by such disposition, a direction for the accumulation by the trustee of income received for such purpose is valid without regard to the time at which the accumulation is to begin or to terminate, but the accumulation is subject to the supervision and control of the supreme court or the surrogate’s court as provided in 8-1.1.

(d)

The income from a trust created by an employer, as part of a stock bonus, a pension, disability or death benefit or profit-sharing plan, for the exclusive benefit of some or all of his employees, to which contributions are made by such employer or employees or both, for the purpose of distributing to such employees the income or principal, or both, of the trust, may be accumulated until the funds are sufficient, in the opinion of the employer, to accomplish the purposes of such plan.

Source: Section 9-2.1 — Rules governing accumulations, https://www.­nysenate.­gov/legislation/laws/EPT/9-2.­1 (updated Sep. 22, 2014; accessed Feb. 28, 2026).

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Verified:
Feb. 28, 2026

Last modified:
Sep. 22, 2014

§ 9-2.1. Rules governing accumulations's source at nysenate​.gov

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