Treasury Regulations (26 C.F.R.)
26 CFR § 28.6071-1
Time for filing returns.
# (a)
In general—(1) Due Date. A U.S. recipient, as defined in § 28.2801-2(e), must file Form 708, United States Return of Tax for Gifts and Bequests Received from Covered Expatriates, or any substitute or successor form specified in guidance or instructions, on or before the fifteenth day of the eighteenth calendar month following the close of the calendar year in which the covered gift or covered bequest was received. Notwithstanding the preceding sentence, the due date for a Form 708 reporting a covered bequest that is not received on the decedent's date of death under § 28.2801-4(d)(3) is the later of—
(i) The fifteenth day of the eighteenth calendar month following the close of the calendar year in which the covered expatriate died; or
(ii) The fifteenth day of the sixth month of the calendar year following the close of the calendar year in which the covered bequest was received.
(2) If a U.S. recipient receives multiple covered gifts and covered bequests during the same calendar year, the rule in paragraph (a)(1) of this section may result in different due dates and the filing of multiple returns reporting the different transfers received during the same calendar year.
# (b) Migrated foreign trust.
The due date for a Form 708 for the year in which a foreign trust becomes a domestic trust is the fifteenth day of the sixth month of the calendar year following the close of the calendar year in which the foreign trust becomes a domestic trust.
# (c) Certain returns by foreign trusts with election under § 28.2801-5(d) for calendar year in which no covered gift or covered bequest received.
A foreign trust making an election to be treated as a domestic trust for purposes of section 2801 under § 28.2801-5(d) (electing foreign trust) for a calendar year in which the foreign trust received no covered gifts or covered bequests must file a Form 708 on or before the fifteenth day of the sixth month of the calendar year following the close of the calendar year for which the election is made.
# (d) Applicability date.
This section applies to covered gifts or covered bequests received on or after January 1, 2025.
Source: view the official text
In this part (25 sections)
- 28.2801-0 · Table of contents.
- 28.2801-1 · Tax on certain gifts and bequests from covered expatriates.
- 28.2801-2 · Definitions.
- 28.2801-3 · Rules and exceptions applicable to covered gifts and…
- 28.2801-4 · Liability for and payment of tax on covered gifts and…
- 28.2801-5 · Foreign trusts.
- 28.2801-6 · Special rules and cross-references.
- 28.2801-7 · Determining responsibility under section 2801.
- 28.6001-1 · Records required to be kept.
- 28.6011-1 · Returns.
- 28.6060-1 · Reporting requirements for tax return preparers.
- 28.6071-1 · Time for filing returns.
- 28.6081-1 · Extension of time for filing returns reporting gifts and…
- 28.6091-1 · Place for filing returns.
- 28.6101-1 · Period covered by returns.
- 28.6107-1 · Tax return preparer must furnish copy of return or claim…
- 28.6109-1 · Tax return preparers furnishing identifying numbers for…
- 28.6151-1 · Time and place for paying tax shown on returns.
- 28.6694-1 · Section 6694 penalties applicable to return preparer.
- 28.6694-2 · Penalties for understatement due to an unreasonable…
- 28.6694-3 · Penalty for understatement due to willful, reckless, or…
- 28.6694-4 · Extension of period of collection when tax return preparer…
- 28.6695-1 · Other assessable penalties with respect to the preparation…
- 28.6696-1 · Claims for credit or refund by tax return preparers and…
- 28.7701-1 · Tax return preparer.