On July 10, 2018, the IRS released new Form D16746, "Certification by Designated Agent to Sell or Transfer Precious Metals, Gems, and Jewels to a Qualified Purchaser." The form is designed to certify that a precious metals dealer is authorized to sell or transfer precious metals, gems, and jewels to a qualified purchaser. The form must be completed and signed by the designated agent of the precious metals dealer. By completing and signing this form, the designated agent attests that the precious metals dealer meets all requirements for a qualified purchaser under IRC § 1031(a)(2). This includes meeting all applicable criteria specified in Treas. Reg. § 1.1031(a)-1(d), including being engaged in the trade or business of dealing in securities and commodities. Failure to comply with these requirements could lead to significant penalties for both the precious metals dealer and the designated agent.
| Question | Answer |
|---|---|
| Form Name | Form D16746 |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Other names | CTE_Form_010609 aarp driver safety program expense report form |
