Table of Contents
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The provision for estates of nonresident aliens allowing for an exemption of a portion of the decedent's stock in a regulated investment company from U.S. estate tax was extended by the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (Act) at section 726(a). The provision will apply to estates of nonresident alien decedents dying on or before December 31, 2011.
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The Act also included several other provisions affecting the Form 706-NA. They are:
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The maximum estate tax rate is 35% (Act section 302(a)(2)).
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The applicable rate for generation-skipping transfers is 35% (Act section 302(c)).
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Prior gifts must be calculated at the rate in effect at the decedent's date of death (Act section 302(d)(1)).
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Executors must provide documentation of their status.
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These instructions are for use with the July 2011 revision of Form 706-NA.
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