# ASC 958-30-40: Not-for-Profit Entities — Split-Interest Agreements — 40 Derecognition

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/958/30/#40-derecognition)

Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.

Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure.

Source downloaded (UTC): 2026-09-10T02:22:15.799Z to 2026-09-10T02:22:15.799Z

Record version: sha256:d83ceb92b7d1bcf159430575f2d2e4c66f704179fceba622baa4e39eeef9d2ca

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


## ASC 958-30-40: 40 Derecognition

[Read section](https://asc.understandingaccounting.org/asc/958/30/#40-derecognition)

SEC content: no

##### [958-30-40-1](https://asc.understandingaccounting.org/asc/958/30/#958-30-40-1)

Pending content: no

Source downloaded (UTC): 2026-09-10T02:22:15.799Z to 2026-09-10T02:22:15.799Z

Record version: sha256:fa5d3f03917de85c08b5a3c7042bc2f8b3f48aa04010b4eb2276bc024a22cb10

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


Upon termination of a [split-interest agreement](https://asc.understandingaccounting.org/glossary/s/#split-interest-agreement "An agreement in which a donor enters into a trust or other arrangement under which a not-for-profit entity (NFP) receives benefits that are shared with other beneficiaries. A typical split-interest agreement has the following two components: A lead interest A remainder interest."), asset and liability accounts related to the agreement shall be closed. Any remaining amounts in the asset or liability accounts shall be recognized as changes in the value of split-interest agreements.