Form 706-NA Preparation Service

 

In order to either sell or transfer US assets whose value exceeds $60,000 at the date of death, you must apply for a Federal Transfer Certificate (Form 5173). The application is made to the US Internal Revenue Service (US IRS) by filing Form 706-NA and supporting documents.

 

Save time and money by outsourcing the completion of Form 706-NA

It takes the US IRS about a year to issue the Federal Transfer Certificate from the time the Form 706-NA is filed. Therefore, it is important to get it right first time.

 

Filing Form 706-NA – What is required?

To prepare the Form 706-NA, you need to establish the value of the shareholding at the date of the death. This needs to comply with the US IRS requirements and provide details of any legal, accountancy or any other fees incurred for the administration of the estate and if possible an estimate of any additional fees that might be payable.

You also need to provide all the details of debts as you are entitled to deduct some debts in the US Estate Tax calculation. These include funeral expenses, unpaid mortgages and liens, administration expenses…

To succeed in your application for Federal Transfer Certificate, you will need to provide the following documents:

  • Copy of the Death Certificate.
  • Evidence of the US Assets at the time of death; this includes not just shares but also houses, bank deposits, cars, works of art etc.
  • Copy of the UK Grant of Probate.
  • Copy of Form IHT 205 / 400 and all supporting schedules such as IHT 411 or Form IHT417.
  • Copies of invocies from the undertakers, accountants, lawyers and all other expenses incurred in the administration of the estate.
  • Copy of a deceased’s passport or evidence he had a UK domicile at the time of death.

Share Data is experienced in the preparation and filing of Form 706-NA and the needed supporting documents, and will guide you through the process. Give us a call on +44 1403 271170 or use this form to get in touch.