Form 706-NA (November 2012)

Recent Case Involving Form 706-NA

Form 706-NAWe have recently had a case where a deceased died in 1965 and the family have only just come forward seeking help. In this case we are being allowed to use the Form for April 1962 which was the Form as at the date of death, and not the current Forms.

At that time, the return was due 15 months after the date of death, and the threshold for having to file a return was US$2,000.00 (not the present US$60,000). We have not yet had to deal with the issue of the earlier tax treaty, but hopefully the estate will not be subject to US Estate Taxes.

It is most important that prompt filing of the relevant Forms takes place within the applicable time periods, as in the above case there is a considerable risk of penalties being payable for failure to file the Form 706-NA.

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