Sample 706 For Portability Form

Sample 706 For Portability Form: What You Should Know

In 2013, Congress modified this procedure, making it easier to fill out the 706. 17 A. The executor must meet the following requirements: 1. The executor or estate administrator must have completed a simplified election for estate tax treatment for the year of the disposition, to the extent there are any assets that qualify for any special treatment. 2. The executor must have included all the required information in the simplified election. 3. The executor must have established the Simplified Schedule. (See and ). The executor must have completed the original and the simplified schedule in their own handwriting. B. The following items are essential to the complete process: 1. A copy of the Form 706 must be filed no later than June 21, 2019. 2. The executor must have received the Form 706 and Form 2553 within thirty days of the disposition date. 3. The executor must have provided the Form 706 to the federal and state tax agencies by April 15, 2019. The executor must have provided to state and local tax agencies as soon as possible after that date. 4. When all information required in the simplified election has been provided, including the completed Form 2553, the executor must furnish the following information to the executor's trustee for receipt by the trustee or the transferor. 5. The entire transaction. The executor is not precluded from filing any related documents. For more detailed instructions on Form 706, see . B. The executor must submit only the Form 706 for Portability. The executor's Form 706 is a continuation of section 5112(5) of the Internal Revenue Code.  Note: If the executor files any other documents associated with the process of making the portability election, they are not required. Section 5112(5)(A)(iii)(b). 18 To elect portability under this extension, the executor must provide a copy of Form 706 to everyone to whom the Form 706 was directed.

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