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Federal forms, ICRs, and supporting documents

Information Collection Request

Form 8971--Information Regarding Beneficiaries Acquiring Property from a Decedent

ICR 201706-1545-009 · OMB 1545-2264 · Active

Forms and Documents
DocumentTypeStatusAvailability
Form 8971 Form 8971--Information Regarding Beneficiaries Acquiring Property from a Decedent Form Modified Available
2017-08-01 SS 1545-2264r (Form 8971 only).doc Supporting Statement A Uploaded 2017-08-01 Available
Legislation PL 114-41.pdf Supplementary Document Uploaded 2015-11-05 Available
IC Document Collections
IC IDCollectionTypeStatusForm
218887 Form 8971--Information Regarding Beneficiaries Acquiring Property from a Decedent Form Modified
ICR Details
1545-2264 201706-1545-009
Active 201602-1545-036
TREAS/IRS Form_8971
Form 8971--Information Regarding Beneficiaries Acquiring Property from a Decedent
Reinstatement with change of a previously approved collection   No
Regular
Approved without change 04/26/2018
Retrieve Notice of Action (NOA) 11/28/2017
  Inventory as of this Action Requested Previously Approved
04/30/2021 36 Months From Approved
10,000 0 0
200,000 0 0
0 0 0
The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 requires executors of an estate and other persons who are required to file a Form 706, Form 706-NA, or Form 706-A, to report to the Internal Revenue Service (IRS) and to each beneficiary receiving property from an estate the estate tax value of the property, if the return is filed after July 31, 2015. Form 8971 is used to report to the IRS and a Schedule A will be sent to each beneficiary and a copy of each Schedule A will be attached to the Form 8971. Some property received by a beneficiary may have a consistency requirement, meaning that the beneficiary must use the value reported on Schedule A as the beneficiary’s initial basis the property.
PL: Pub.L. 114 - 41 SEC. 2004 Name of Law: Surface Transportation and Veterans Health Care Choice Improvement Act of 2015
  
None
Not associated with rulemaking
  81 FR 14937 03/18/2016
82 FR 50733 11/01/2017
Yes
  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 10,000 0 0 0 0 10,000
Annual Time Burden (Hours) 200,000 0 0 0 146,900 53,100
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
There is a change to the burden previously approved by OMB, because the agency has made an adjustment to the previous burden estimate from 5.31 hrs. to 20 hrs. associated with recordkeeping, reporting, and third-party disclosure.
$0
No
    Yes
    Yes
No
No
No
Uncollected
Theresa Melchiorre 202 622-7830 [email protected]
  No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
11/28/2017