Form 8971 -- Information Regarding Beneficiaries Acquiring Property from a Decedent

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 8971 Information Regarding Beneficiaries Acquiring Property from a Decedent	Form	Modified	Available
Form 8971 Form 8971--Information Regarding Beneficiaries Acquiring Property from a Decedent	Form	Modified	Repair queued
SUP STAT (Form 8971)-clean.docx	Supporting Statement A	Uploaded 2024-07-24	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
271924	TD 9991 - reporting and third-party disclosures	Other-regulation	New
218887	Form 8971--Information Regarding Beneficiaries Acquiring Property from a Decedent	Form	Modified	Information Regarding Beneficiaries Acquiring Property from a Decedent
218887	Form 8971--Information Regarding Beneficiaries Acquiring Property from a Decedent	Form	Modified
218887	Form 8971--Information Regarding Beneficiaries Acquiring Property from a Decedent	Instruction	Modified

ICR Details

OMB Control No: 1545-2264	ICR Reference No: 202407-1545-006
Status: Active	Previous ICR Reference No: 202103-1545-005
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Form 8971 -- Information Regarding Beneficiaries Acquiring Property from a Decedent
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 12/05/2024
Retrieve Notice of Action (NOA)	Date Received in OIRA: 07/31/2024
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2027	36 Months From Approved	12/31/2024
Responses	20,000	0	10,000
Time Burden (Hours)	400,000	0	200,000
Cost Burden (Dollars)	0	0	0

---

Abstract: The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 requires executors of an estate and other persons who are required to file a Form 706, Form 706-NA, or Form 706-A, to report to the Internal Revenue Service (IRS) and to each beneficiary receiving property from an estate the estate tax value of the property, if the return is filed after July 31, 2015. Form 8971 is used to report to the IRS and a Schedule A will be sent to each beneficiary and a copy of each Schedule A will be attached to the Form 8971. Some property received by a beneficiary may have a consistency requirement, meaning that the beneficiary must use the value reported on Schedule A as the beneficiary’s initial basis the property.

---

Authorizing Statute(s): US Code: 26 USC 6018 Name of Law: Estate Tax Returns
   PL: Pub.L. 114 - 41 SEC. 2004 Name of Law: Surface Transportation and Veterans Health Care Choice Improvement Act of 2015
   US Code: 26 USC 6035 Name of Law: Basis information to persons acquiring property from decedent
  

Citations for New Statutory Requirements: PL: Pub.L. 114 - 41 2004 Name of Law: Surface Transportation and Veterans Health Care Choice Improvement Act

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 19014	03/15/2024
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 61586	07/31/2024
Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 2

table that charts list of burden

IC Title	Form No.	Form Name
Form 8971--Information Regarding Beneficiaries Acquiring Property from a Decedent	8971	Information Regarding Beneficiaries Acquiring Property from a Decedent
TD 9991 - reporting and third-party disclosures

---

ICR Summary of Burden

table that charts list of burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	20,000	10,000	10,000	0	0	0
Annual Time Burden (Hours)	400,000	200,000	200,000	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: Section 2004 of the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (2015 Act), Public Law 114–41, 129 Stat. 443, 454 (July 31, 2015), enacted sections 1014(f), 6035, 6662(b)(8), 6662(k), 6724(d)(1)(D), and 6724(d)(2)(II) of the Code to require consistency between a recipient’s basis in certain property acquired from a decedent and the value of the property as finally determined for Federal estate tax purposes.

---

Annual Cost to Federal Government: $29,731

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     Yes

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

---

Common Form ICR:  No

---

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 07/31/2024

---