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Federal forms, ICRs, and supporting documents

Information Collection Request

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

ICR 202407-1545-006 · OMB 1545-2264 · Received in OIRA

Forms and Documents
DocumentTypeStatusAvailability
Form 8971 Form 8971--Information Regarding Beneficiaries Acquiring Property from a Decedent Form Modified Repair queued
SUP STAT (Form 8971)-clean.docx Supporting Statement A Uploaded 2024-07-24 Available
IC Document Collections
IC IDCollectionTypeStatusForm
218887 Form 8971--Information Regarding Beneficiaries Acquiring Property from a Decedent Form Modified
ICR Details
1545-2264 202407-1545-006
Received in OIRA 202103-1545-005
TREAS/IRS
Form 8971 -- Information Regarding Beneficiaries Acquiring Property from a Decedent
Extension without change of a currently approved collection   No
Regular 07/31/2024
  Requested Previously Approved
36 Months From Approved 07/31/2024
10,000 10,000
200,000 200,000
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.
US Code: 26 USC 6035 Name of Law: Basis information to persons acquiring property from decedent
   US Code: 26 USC 6018 Name of Law: Estate Tax Returns
   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
  89 FR 19014 03/15/2024
89 FR 61586 07/31/2024
No
  Total Request 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 10,000 0 0 0 0
Annual Time Burden (Hours) 200,000 200,000 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
$29,731
No
    Yes
    Yes
No
No
No
No
Ricardo Perez 787 522-8641
  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.
07/31/2024