Title 26 — Internal Revenue Code
Part III · Chapter 61 — Information and Returns
§ 6035. Basis information to persons acquiring property from decedent
Statutory text
Information with respect to property acquired from decedents
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.
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).
Time for furnishing statement
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—
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
the date which is 30 days after the date such return is filed.
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.
Regulations
The Secretary shall prescribe such regulations as necessary to carry out this section, including regulations relating to—
the application of this section to property with regard to which no estate tax return is required to be filed, and
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.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Surface Transportation and Veterans Health Care Choice Improvement Act of 2015
Pub. L. 114–41 title II § 2004(b)(1) · 129 Stat. 443
Enacted · 26 U.S.C. § 6035
(Added Pub. L. 114–41, title II, § 2004(b)(1), July 31, 2015, 129 Stat. 455.)
Source evidence
Code source credit
(Added Pub. L. 114–41, title II, § 2004(b)(1), July 31, 2015, 129 Stat. 455.)Enacted provision · exact public law section
(1) In general.— Subpart A of part III of subchapter A of chapter 61 of such Code is amended by inserting after section 6034A the following new section: “SEC. 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.” .
1 of 1 references resolved to an enrolled provision
Editorial Notes
Prior Provisions
A prior section 6035, act Aug. 16, 1954, ch. 736, 68A Stat. 743; Pub. L. 94–455, title XIX, § 1906(b)(13)(A), , 90 Stat. 1834; Pub. L. 97–248, title III, § 340(a), , 96 Stat. 633, related to information returns of officers, directors, and shareholders of foreign personal holding companies, prior to repeal by Pub. L. 108–357, title IV, § 413(c)(26), (d)(1), , 118 Stat. 1509, 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
Section applicable to property with respect to which an estate tax return is filed after , see section 2004(d) of Pub. L. 114–41, set out as an Effective Date of 2015 Amendment note under section 1014 of this title.
Credits
(Added Pub. L. 114–41, title II, § 2004(b)(1), , 129 Stat. 455.)