Form 706-NA: United States Estate (And Generation-Skipping Transfer) Tax Return


DEFINITION of 'Form 706-NA: United States Estate (And Generation-Skipping Transfer) Tax Return'

A tax form distributed by the Internal Revenue Service (IRS) that used to calculate the generation-skipping transfer tax liability for estates of non-resident aliens of the United States. The generation-skipping tax is levied when the transfer of the decedent's estate takes place rather than when it is received by a beneficiary. A non-resident alien does not live in the United States and is not a citizen.

BREAKING DOWN 'Form 706-NA: United States Estate (And Generation-Skipping Transfer) Tax Return'

Several countries have death tax treaties with the United States, and executors reporting information on an estate from one of those countries may have to attach a statement stating that the death tax treaty is being applied.

Form 706-NA is available to taxpayers by requesting Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return. Citizens of U.S. possessions, such as the U.S. Virgin Islands, are not considered citizens in Form 706-A.

  1. Estate Planning

    The collection of preparation tasks that serve to manage an individual's ...
  2. Taxable Estate

    The total value of a deceased person's assets that are subject ...
  3. Estate Tax

    A tax levied on an heir's inherited portion of an estate if the ...
  4. Gross Estate

    The total dollar value of all property and assets in which an ...
  5. Transfer Tax

    Any kind of tax that is levied on the transfer of official documents ...
  6. Letter of Intent - LOI

    A document outlining the terms of an agreement before it is finalized. ...
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