When managing a UK estate with US-listed shares or funds, executors might be surprised to find that probate and tax responsibilities do not stop at the UK border. The United States has specific estate tax rules for non-residents that can apply even if the deceased lived and died in the UK. The most common requirement is IRS Form 706-NA, the United States Estate Tax Return for Non-Residents. This form usually must be submitted before transferring or selling any US-based assets.

Many executors only realise this requirement after shares are frozen, which can slow down estate administration.

Even if you have already settled UK Inheritance Tax, the IRS still wants to review the situation. Their process adds another step to the financial journey, so be ready for increased scrutiny.

Estate value thresholds and exemptions

The IRS only considers US-situs assets when calculating value, not global wealth. A filing is typically required when US-situs assets exceed $60,000 USD. Even below this amount, brokers often request documentation to prove exemption, leading to delays if not handled promptly.

What the IRS expects in a Form 706-NA submission

A compliant filing typically includes:

• Certified copy of probate documents
• A US Tax Identification Number (ITIN) is necessary when applicable.
• Formal probate valuations for US securities
• Details of beneficiaries and distribution
• Supporting evidence for cost basis/purchase history
• Official statements from brokers or registrars

Incorrect or incomplete paperwork can greatly lengthen review times. This can lead to extended asset freezes and possible financial losses due to changing asset values. Therefore, it’s essential to ensure that all documentation is accurate and complete before submission.

How Share Data supports executors and solicitors

Administering US-situs assets from the UK can be complex, but Share Data is here to simplify the process. We specialise in navigating the intricacies of US estate tax rules and can guide you through the entire Form 706-NA submission process.

Share Data provides:

✅ Full preparation and submission of Form 706-NA

✅ Coordination directly with US brokers and registrars

✅ Valuations and supporting evidence compliant with IRS rules

✅ ITIN assistance where required

✅ Settlement and asset release follow-through until complete

Our expertise ensures the IRS receives everything it needs the first time, helping prevent delays and reducing administrative burden.

Who we assist

We routinely support:

• Probate solicitors managing estates with US securities
• Executors and administrators acting independently
• Accountants and tax professionals requiring valuation data

Whether the estate includes a single US shareholding or a complex multi-asset portfolio, we understand that each case is unique. That’s why we tailor our support to the specific requirements of your case, ensuring you receive the most effective assistance.

When to contact us

The best time to engage us is:

• When a US shareholding is identified
• Before instructing a broker to transfer or sell shares
• As soon as a broker raises a US tax clearance requirement

Getting involved early is key to preventing assets from being frozen. By contacting us as soon as you identify a US shareholding, before instructing a broker to transfer or sell shares, or as soon as a broker raises a US tax clearance issue, you can take proactive steps to avoid potential delays.

Contact our specialist team

For guidance on whether Form 706-NA applies to a current estate, or to request a fee schedule:

📞 +44 (0)1403271170

📩 admin@sharedata.co.uk

🔗 www.sharedata.co.uk (to add internal service page link once published)