May 20, 2014 Alok Gupta Sale & Transfer of Investment Securities, Sale of Investment Securities, Transfer of Investment Securities

Do You Own US Shareholdings in Excess of US $60,000?

The rise in the US stock market since 2009 has resulted in many estates having US shareholdings which exceed the limit of US $60,000 and this entails the filing of Form 706-NA and other related Forms.


This ensures that the US IRS recovers US Estate Taxes when due, but underthe US/UK Double Tax Treaty there should not be any US Estate Taxes payable, but the Forms still have to be prepared and filed so that the US IRS will issue the needed Federal Transfer Certificate (Form 5173).

Without the Federal Transfer Certificate you will not be able to transfer the shares into the names of the Executors as the share
registrars will not transfer the shares into the names of the Executors without the needed Federal Transfer Certificate. You will therefore not be able to sell the shares until the Federal Transfer Certificate has been obtained.

Share Data is familiar with what is involved, the preparation of the Forms for filing and of the necessity of filing the appropriate Forms at the appropriate time.

We will be happy to relieve you of the worries involved.

Contact us here.

You should note that by its own admission the US IRS it will take a year from the time that the documents are submitted before the Federal Transfer Certificate is issued, so you must inform your clients of the long time period that will be involved.