To amend the Internal Revenue Code of 1986 to ensure that charitable beneficiaries of charitable remainder trusts are aware of their interests in such trusts, and for other purposes.

Amends the Internal Revenue Code to establish requirements for notifying charitable beneficiaries of charitable remainder trusts of their interests in such trusts, including copies of the pertinent parts of an estate tax return on which a charitable deduction is claimed. Establishes penalties if such notices are not filed.

Requires each charitable remainder trust to which a contribution was deductible for Federal income, estate or gift tax purposes to file an annual information return on its financial condition, transactions, fiduciaries, beneficiaries, and other information necessary for the Internal Revenue Service (IRS) and beneficiaries to be adequately informed of its affairs.

Expresses the sense of the Congress that the IRS undertake and maintain an audit program of all split-interest trusts whose assets exceed $10,000,000 (unless such trust has a foundation manager which is a beneficiary of a private foundation.)

Disallows a deduction for a charitable contribution paid to a controlling organization by any controlled organization.

Directs the IRS to make available to the public any notice requesting an audit of a charitable remainder trust. Authorizes the IRS to charge an audit notice fee.