IRS Expands E-Signature Policy to Include Gift and Estate Tax Returns and Foreign Trust Reporting Forms

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On August 28, the IRS announced that it would temporarily accept e-signatures on certain forms. Included among that initial list of forms was Form 8832, Entity Classification Election (commonly known as a “check-the-box” election). On September 10, the IRS expanded its list to include additional forms. Of particular relevance to international tax practitioners, the following forms may now be submitted with a digital signature: Form 706-NA, U.S. Estate (and Generation-Skipping Transfer) Tax Return; Form 3520, Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts; and Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner.

The relief is not permanent, however, and as of now, the e-signature policy will only apply to forms submitted on or before December 31, 2020. A full list of all of the forms eligible for the new e-signature policies can be found here.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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