26 U.S.C. § 6035 | Basis information to persons acquiring property from decedent

(a)

Information with respect to property acquired from decedents

(1)

In general

The executor of any estate required to file a return under section 6018(a) shall furnish to the Secretary and to each person acquiring any interest in property included in the decedent’s gross estate for Federal estate tax purposes a statement identifying the value of each interest in such property as reported on such return and such other information with respect to such interest as the Secretary may prescribe.

(2)

Statements by beneficiaries

Each person required to file a return under section 6018(b) shall furnish to the Secretary and to each other person who holds a legal or beneficial interest in the property to which such return relates a statement identifying the information described in paragraph (1).

(3)

Time for furnishing statement

(A)

In general

Each statement required to be furnished under paragraph (1) or (2) shall be furnished at such time as the Secretary may prescribe, but in no case at a time later than the earlier of—

(i)

the date which is 30 days after the date on which the return under section 6018 was required to be filed (including extensions, if any), or

(ii)

the date which is 30 days after the date such return is filed.

(B)

Adjustments

In any case in which there is an adjustment to the information required to be included on a statement filed under paragraph (1) or (2) after such statement has been filed, a supplemental statement under such paragraph shall be filed not later than the date which is 30 days after such adjustment is made.

(b)

Regulations

The Secretary shall prescribe such regulations as necessary to carry out this section, including regulations relating to—

(1)

the application of this section to property with regard to which no estate tax return is required to be filed, and

(2)

situations in which the surviving joint tenant or other recipient may have better information than the executor regarding the basis or fair market value of the property.

Pub. L. 114–41, title II, § 2004(b)(1)July 31, 2015129 Stat. 455(Added , , .)

Editorial Notes

Prior Provisions

act Aug. 16, 1954, ch. 736 68A Stat. 743 Pub. L. 94–455, title XIX, § 1906(b)(13)(A)Oct. 4, 197690 Stat. 1834 Pub. L. 97–248, title III, § 340(a)Sept. 3, 198296 Stat. 633 Pub. L. 108–357, title IV, § 413(c)(26)Oct. 22, 2004118 Stat. 1509Dec. 31, 2004A prior section 6035, , ; , , ; , , , related to information returns of officers, directors, and shareholders of foreign personal holding companies, prior to repeal by , (d)(1), , , 1510, applicable to taxable years of foreign corporations beginning after , and to taxable years of United States shareholders with or within which such taxable years of foreign corporations end.

Statutory Notes and Related Subsidiaries

Effective Date

July 31, 2015section 2004(d) of Pub. L. 114–41 section 1014 of this titleSection applicable to property with respect to which an estate tax return is filed after , see , set out as an Effective Date of 2015 Amendment note under .