Form As 2801 PDF Details

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QuestionAnswer
Form NameForm As 2801
Form Length5 pages
Fillable?No
Fillable fields0
Avg. time to fill out1 min 15 sec
Other namesas 2801, 1968, NONRESIDENTS, form as 2801 puerto rico

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Form AS 2801

Rev. 03.97

TREASURY DEPARTMENT

ESTATE TAX RETURN OF NONRESIDENT

OR

UNITED STATES CITIZEN RESIDENT OF

PUERTO RICO

Decedent's first name and middle initial

Decedent's last name

 

Social Security Number

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Date of death

 

Place of death

 

 

Citizenship (Nationality)

 

 

 

 

 

 

 

 

 

 

 

 

 

Residence (domicile) at time of death

 

 

 

 

 

 

Business or occupation

 

 

 

 

 

 

 

 

 

 

 

 

 

IN PUERTO RICO

Name of executor, administrator, or person in possession of property:

Name of attorney for estate:

Serial Number

Case Number

Receipt Stamp

FOR COLLECTOR'S USE ONLY

Receipt Control Number

No.

Amount:

Address

Address

Telephone

Telephone

OUTSIDE PUERTO RICO

Name of executor, administrator, or person in possession of property:

Name of attorney for estate:

 

 

Address

Address

Telephone

Telephone

Questionnaire

Yes No

1. a. Did the decedent die testate? ...................................

b. Were letters testamentary or administration granted for the estate? If granted to persons other than those filing the return, submit

names and addresses. .............................................

_________________________________________

_________________________________________

_________________________________________

_________________________________________

2.Did the decedent, at the time of his death, own any:

a. Real property located in the Government

of Puerto Rico? .........................................................

b. Stock of Puerto Rican corporations? ........................

c. Debt obligations of (1) a Puerto Rican person, or (2) the Government of Puerto

Rico, or any political subdivision thereof? ................

d. Other property located in Puerto Rico? ....................

3. Was the decedent engaged in business in

Puerto Rico at the date of death? .................................

4.Did the decedent at date of death, personally or through an agent, have access to a safe

deposit box in Puerto Rico? ..........................................

If so, indicate name of institution:

__________________________________________

Box Number: _______________________________

5.Did the decedent, at the time of his death, own any property located in Puerto Rico, as a joint tenant or as a tenant by the entity with right of survivorship or with his

spouse as community property? ................................

6.Did the decedent make any transfer within 3 years before his death of a value of $1,000 or more, or any transfer during his

lifetime of a value of

$5,000 or more,

without an adequate and full consideration

in money or money's

worth, any part of

which was located in Puerto Rico either at

the time of transfer or at the time of the decedent's

death? .......................................................................

7. Where there in existence at the time of the decedent's death any trust created by him during his lifetime, any part of the property of which was located in Puerto Rico either when the trust was

created or at the time of the decedent's death? ........

Yes No

Rev. 03.97

 

 

ESTATE TAX RETURN

Page 2

 

SCHEDULE A - GROSS ESTATE

 

 

 

 

Complete description of real property. Indicate land area according to

Community

Value at date

 

 

title, location, property, code number and the Section of the Registry of

or

of Death in

 

Item Number

the Property, page and book number where it is registered. Also give

Separate

United States

 

 

complete description of other properties such as stock, bond, bank

(C or S)

Dollars

 

 

accounts, etc.

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

Total Schedule A

$

Rev. 03.97

 

 

 

 

 

 

 

 

 

 

 

ESTATE TAX RETURN

Page 3

 

SCHEDULE B - COMPUTATION OF TAXABLE ESTATE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1. Gross estate in the Government of Puerto Rico (Total, Schedule A)

 

 

 

 

$

 

 

 

 

 

 

 

2. Gross estate outside the Government of Puerto Rico

 

 

 

 

 

 

$

 

 

 

 

 

 

 

3. Total gross estate wherever located

 

 

 

 

 

 

$

 

 

 

 

 

 

 

4. Amount of funeral expenses, administration expenses, debts of decedents, mortgages and liens, and

 

 

 

 

 

 

 

 

 

 

losses during administration (attach itemized schedule)

 

 

 

 

 

 

$

 

 

 

 

 

 

 

5. Deduction of expenses, claims, ect. (that proportion of line 4 that line 1 bears to line 3)

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

line 1

 

 

 

 

 

 

 

 

 

 

 

 

6. Exemption for $30,000 (if qualifying for"prorated exemption", use $30,000 or --------------

x $60,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

line 3

 

 

 

 

 

 

 

 

 

 

 

 

whichever is greater) or $10,000 for other nonresident

 

 

 

 

 

 

$

 

 

 

 

 

 

 

7. Total deductions (Line 5 plus line 6)

 

 

 

 

 

 

$

 

 

 

 

 

 

 

.............................................................................................................8. Taxable estate (Line 1 less line 7)

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

COMPUTATION OF TAX FOR NONRESIDENT IN GENERAL

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1. Taxable estate (Line 8, Schedule B)

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2. Gross tax on taxable estate (For computing estate tax, use table from Sec.4 of Act. No.167 of June

 

 

$

 

 

 

 

 

 

 

30,1968)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

3. Credit for foreign death taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

4. Net estate tax payable (Line 2 less line 3)

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

COMPUTATION OF TAX FOR NONRESIDENT, COVERED BY SECTION 107 OF ACT NO. 167 OF JUNE 30, 1968

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1. Gross tax determined by the United States Internal Revenue Service

......................................................

 

 

 

$

 

 

 

 

 

 

 

2. Maximum Credit Allowable under Section 2014(b)(2) of the United States Internal Revenue Code

 

$

 

 

 

 

 

 

 

3. Net estate tax payable in Puerto Rico (Line 2)

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Under penalties of perjury, I declare that this return, including the additional schedules attached, if any, has been examined by me,

and to the best of my knowledge and belief, is a true, corrrect, and complete return. It is understood that a complete return requires

the listing herein of all the property constituing the part of the decedent's gross estate (as defined by the statute) located in the United

States.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

_____________________________________

 

 

 

 

 

 

_______________________

 

 

 

 

 

Signature of executive or administrator

 

 

Date

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Note to Taxpayer: If you paid a specialist to prepare your return, the specialist must sign and write his (her) registration number in the space provided.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Registration no.

 

Check if self employed

 

 

 

 

Specialist's social security no.

Specialist's signature

 

 

 

 

 

 

 

Date

(Check here)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Employer's identification number

Specialist's name (Print letter)

Firm's name (or specialist's name if self employed)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Address

 

 

 

 

 

 

 

 

 

 

 

Zip Code

 

 

Conservation: Ten (10) years

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rev. 03.97

ESTATE TAX RETURN Page 4

 

INSTRUCTIONS FOR FILING THE ESTATE TAX RETURN OF NONRESIDENTS

(United States citizens residents of Puerto Rico who were not born in Puerto Rico are treated as nonresidents)

GENERAL INFORMATION

Time and place for filing the return - The Estate Tax Return must be filed within 270 days following the decedents death.

The return can be mailed to the Treasury Department, Tax Assistance and Legislation Bureau, PO BOX 9022503, SAN JUAN, PR, 00902 2503. You can also deliver your return to the Taxpayer's Service Offices at Intendente Alejandro Ramírez Building in San Juan; Avenida Hostos #26, Eurobank Building, Ponce and Office 102, Centro Gubernamental, Avenida Nenadich in Mayagüez.

Extension of time for filing the return may be granted under special situations, but in no case for more than 6 months.

Payment of tax-The tax is due 270 days after the date of the decedent’s death and must be paid within such period unless an extension of time for payment thereof has been granted by the Secretary of the Treasury. Payment should be made by check or money order payable to the Secretary of the Treasury or in collectible United States currency at par, without any deduction for exchange or other charges.

Penalties - Severe penalties are provided by the Code for willful failure to make and file a return on time and for willful attempt to evade or defeat payment of tax.

I. GENERAL

The Government Estate Tax is imposed by the Puerto Rico Internal Revenue Code of 1994 (the Code) for all decedents dying on or after June 30, 1995. It is imposed upon the transfer of the taxable estate of the decedent and not upon the receipt of any particular legacy, devise, or distributive share.

The first step in the determination of tax liability in the case of a nonresident not a citizen of the United States, is to ascertain the entire gross estate wherever located. The second step is to determine the part of such gross estate, located in Puerto Rico, which should be set forth in Schedule A. The third step is to determine the amount of the deductions authorized, the total as indicated in Section 6 of which should be entered as line 7 of Schedule B and subtracted from the part of the gross estate located in PUERTO RICO in order to arrive at the taxable estate. The fourth step is to compute the tax and any allowable credit.

Nonresident not a citizen of the United States means a decedent who, at the time of his death, was neither a resident of Puerto Rico nor a citizen of the United States. A decedent who was a citizen of the United States under Subtitle B, Chapter 11 of the United States Internal Revenue Code and a resident of Puerto Rico at the time of his death shall be considered as nonresident of Puerto Rico for the purpose of taxation under the Code.

II. REQUIREMENT OF RETURN

An estate tax return must be filed for the estate of a nonresident not a citizen of the United States or United States citizen resident of Puerto Rico if part of his gross estate (regardless of its value) is located in the Commonwealth of Puerto Rico at the date of his death.

If there is no executor or administrator appointed, qualified, and acting in Puerto Rico, every person in actual or constructive possession of any property of the decedent is liable for the filing of the return. If two or more persons are liable for the filing of the return, it is preferable for all to join in the filing of one complete return, but if they are unable to join in making one complete return, each is required to file a return disclosing all the information he has in the case, including the name of every person holding an interest in the property and a full description of such property.

III.PROPERTYLOCATEDINTHECOMMONWEALTHOF PUERTO RICO

The part of the gross estate located within the Commonwealth of Puerto Rico should be listed in Schedule A. In determining whether property is located in Puerto Rico, there shall be applied the rules established by Sections 2104 and 2105 of the United States Internal Revenue Code as amended, and applicable at the time of death of the decedent.

IV. DESCRIPTION OF THE PROPERTY

The description of property under Schedule A should be such that the property may be reality identified Real property should be described according to its title, or as recorded in the corresponding Registry of Real Property, including volume and page number, and the number therein assigned to the property. Descriptions of stocks should include number of shares, whether common or preferred, and, is preferred, what issue thereof, par value, quotation at which returned, exact name of corporation, and if the stock is listed or unlisted.

Description of bonds should include number, principal amount, name of obliger date of maturity, rate of interest, date or dates on which interest is payable, series number where there is more than one issue, the exchange upon which listed, or the principal business office of the corporation, if unlisted.

Jointly owned property and property held as tenant by the entirety should be identified as such, and the entire value and description thereof should be disclosed in Schedule A . The right to include less than the full value of the entire property for purpose of the tax must be supported by proof.

V. DATE OF VALUATION OF PROPERTY

All property must be value at the fair market value as of the date of death. The Code does not provide for alternate valuation.

VI. DEDUCTION OF ADMINISTRATION EXPENSES, CLAIMS, etc

Subject to the limitations provided by the Code, deduction may be taken for the following expenses, claims, etc, that the value of the part of the gross estate, located in Puerto Rico bears to the value of the entire gross estate wherever located: (1) funeral expenses; (2) administration ex- penses; (3) claims against the estate; (4) unpaid mortgages and other liens; and (5) casualty losses within 270 days after the decedent’s death arising from fires, storms, and earthquakes, if such losses are not compensated by insurance or otherwise.

It is immaterial whether the amounts to be deducted, were incurred or expended within or without the Government of Puerto Rico. However, no deduction whatever may be taken unless the value of the entire gross estate wherever located, as described in Section III of these instructions, is entered at line 3 of Schedule B. Adequate proof in support of line 3 and 4 of Schedule B must be submitted, otherwise, this deduction will be disallowed. For this purpose, there should be submitted a certified copy of the foreign death tax return, or, if no such return was filed, a certified copy of the inventory of the estate, together with the schedule of debts and charges, filed in conjunction with the administration proceedings of the estate or with the foreign court of probate jurisdiction. Additional proof may be required in specific cases. The total amount of expenses, claims, etc., should be entered as line 4 of Schedule B, this entry must be supported by an itemized schedule. Such schedule should show the exact nature and amount of each expense or claim as well as the name of the creditor.

Rev. 03.97

ESTATE TAX RETURN

Page 5

Other deductions must be fully described and, if relating to particular property, the property must be identified. Death taxes, taxes on income received after death, and property taxes not accrued prior to death are not to any extent deductible. If a claim against the estate or a mortgage is founded upon a promise or agreement, the amount included in line 4 must be limited to the extent to which the liability was contracted bona fide and for an adequate and full consideration in money or money’s worth. Deduction may be taken for a mortgage only if the value of the property undiminished by the amount of indebted- ness secured by the mortgage is included in the entire gross estate wherever located.

VII. EXEMPTION

a.Estates of nonresidents not citizens of the United States are allowed an exemption of $10,000.00.

b.Estates of residents of Puerto Rico who are considered citizens of the United States, under Subtitle B, Chapter II of the United States Internal Revenue Code, are allowed an exemption which is the greater of (i) $30,000.00 or (ii) that proportion of $60,000 which the value of that part of the decedent’s gross estate located in Puerto Rico bears to the value of his entire gross estate wherever located. This in creased exemption will be disallowed unless the

value of the entire gross estate wherever located is entered at line 3 of Schedule B and supported by adequate proof, as explained in the second paragraph of Section VI of these instructions.

VIII. TAXATION OF AMERICAN CITIZENS

The Code provides that in the case of the estate of an american citizen, whether or not resident of Puerto Rico, who is a citizen of the United States for purposes of the United States Internal Revenue Code, the tax upon the transfer of that part of the estate, shall be equal to the amount determined under Section 2014(b)(2) of the United States Internal Revenue Code or any sucessor thereof.

IX. COMPUTATION OF TAX

a.The person filing the return for a nonresident not a citizen of the United States, and for a nonresident, citizen of the United States, who is a nonresident for purposes of the United States Internal Revenue Code, should compute the tax on the taxable estate as shown in line 8 of the return, Schedule B, in accordance with instructions for "Table for Computing Estate Tax", and should enter such amount of tax at line 2 of the return, and unless credit is claimed, also at line 4 of the return.

b.In the case of american citizens, whether or not residents of Puerto Rico, who are citizens of the United States for purposes of the United States Internal Revenue Code, the tax is determined as indicated in Section 8 of instructions. The amount so determined should be entered on line 2, page 1 of the return, on the item entiled "Computation of Tax for Nonresidents covered by Section 107 of the Act No. 167 of june 30, 1968".

X. SUPPLEMENTED DOCUMENT

If the decedent died testate, a certified copy of the will must be filed. In the case of closely held or inactive stocks or a corporation, there must be submitted balance sheets, particu larly the one nearest the valuation date, and statements of the net earnings or operating results and dividends paid for each of the five preceding years. Any other documents, such as appraisal lists, required for an adequate explanation should be filed with the return. Other supplemental documents may be required as explained in Sections VI and VII of these instructions. An English translation should be submitted with all foreign supplemental documents.

1.Federal Estate of Nonresident or United States Citizen Resident of Puerto Rico.

2.Receipt of Payment Voucher for the amount of $25 or money order or certified check payable to the Secretary of the Treasury.

3.Certification of property tax payments (CRIM).

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1. It is important to fill out the NONRESIDENT properly, therefore pay close attention while working with the parts including these particular blank fields:

A way to fill out Rican part 1

2. After filling out this section, go to the subsequent stage and complete all required details in these fields - a Did the decedent die testate b, Did the decedent at the time of, If so indicate name of institution, Did the decedent at the time of, Did the decedent make any, and Where there in existence at the.

How you can fill in Rican part 2

3. This subsequent section is fairly straightforward, Complete description of real - every one of these blanks needs to be filled in here.

Step no. 3 in completing Rican

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Simple tips to fill in Rican step 4

5. The very last point to finalize this document is critical. Be certain to fill in the required form fields, for instance SCHEDULE B COMPUTATION OF TAXABLE, Gross estate in the Government of, COMPUTATION OF TAX FOR NONRESIDENT, Taxable estate Line Schedule B, and COMPUTATION OF TAX FOR NONRESIDENT, prior to using the form. If not, it might give you an unfinished and potentially nonvalid form!

Completing section 5 of Rican

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