Form Il 56 PDF Details

Managing financial and tax responsibilities for those who cannot do so themselves is a critical task, often overlooked until necessity demands it. The Illinois Department of Revenue provides Form IL-56, titled Notice of Fiduciary Relationship, for such occasions. This specific form is designed for individuals acting in a fiduciary capacity on behalf of another taxpayer who is unable to manage their own affairs due to death, incapacitation, or other legal disabilities. Its primary purpose is to notify the department when someone assumes or relinquishes the role of a fiduciary for entities including individuals, estates, trusts, and even bankrupt or terminating entities. Essential for maintaining legally compliant financial dealings, the form mandates the clear identification of both the fiduciary and the taxpayer, alongside detailed documentation proving the fiduciary's authority. Evidence of this authority could comprise a will, court certificates, or trust instruments, which must accompany the form upon submission. Furthermore, Form IL-56 requires fiduciaries to describe the extent of their liabilities, including the types of taxes and financial activities involved. The process culminates in the fiduciary's affirmation of the notice's accuracy through their signature. Strictly speaking, filing Form IL-56 with the Illinois Department of Revenue is not only a matter of legal compliance but also a step toward ensuring that taxpayers' financial and tax-related matters are responsibly managed and represented.

QuestionAnswer
Form NameForm Il 56
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other namesil 56 form, R-12, assignee, iljuschin il56

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Illinois Department of Revenue

IL-56 Notice of Fiduciary Relationship

General Information

Who should file Form IL-56?

You should file Form IL-56 when you are acting in a fiduciary capacity for a taxpayer who is unable to execute a power of attorney (Form IL-2848) because of death or other legal disability. You should complete and keep Form IL-56 in your records at the time a fiduciary relationship is created or terminated for

•an individual,

•a decedent’s estate,

•a receiver in a receivership proceeding,

•a trust,

•a bankruptcy estate,

•an assignee for the benefit of creditors, and

•a terminating entity.

Note: A terminating entity, such as a corporation, partnership, or trust, legally can only establish a fiduciary relationship before it is terminated. This allows the fiduciary to represent the entity on all tax matters after it is terminated.

When should I file this form?

You should file this form only when

•you are required to represent the taxpayer in matters before the Illinois Department of Revenue (IDOR), or

•IDOR has requested it.

What must I attach to this form?

You must attach satisfactory evidence of the authority to act in a fiduciary capacity to Form IL-56 (E.G., copy of will, certificate of court showing your appointment and qualification, or certified copies of instruments creating the trust).

If you complete Step 4, you must attach satisfactory evidence of the termination or revocation of the prior fiduciary relationship.

Step 1: Identify the fiduciary and taxpayer

Fiduciary information

 

Taxpayer information

 

 

__________________________

__________________________

___________________________

Name of fiduciary

 

 

Name of individual, estate or trust

 

 

Taxpayer’s identification number (SSN or FEIN)

__________________________

__________________________

If deceased, date of death ____ ____ ________

Mailing address

 

 

Mailing address

 

 

Month Day Year

__________________________

__________________________

__ __ __ - __ __ - __ __ __ __

City

State

ZIP

City

State

ZIP

Deceased’s Social Security number

(____)_____________________

Phone

Step 2: Describe the satisfactory evidence of authority

Describe what you have attached as satisfactory evidence of authority to act in a fiduciary capacity.

_________________________________________________________________________________________________________________

Step 3: List the nature and extent of liabilities

Write all applicable years for which you are acting as a fiduciary. Write the type of tax (E.G., income tax, or retailers’ occupation tax), whether or not additional tax or a refund is due, and whether or not a return or payment is required.

________________________________________________________________________________________________________________

________________________________________________________________________________________________________________

Step 4: Complete this step when you terminate a prior fiduciary relationship

Write the name and address of any succeeding fiduciary.

_______________________________________________________

 

Name of fiduciary

 

 

 

_______________________________________________________

 

Mailing address

 

 

 

_______________________________________________________

 

City

State

Zip

Step 5: Sign below

I have examined this notice and, to the best of my knowledge, it is true, correct, and complete.

_______________________________________________________

_______________________________

____ ____ ________

Signature of fiduciary

Title (E.G., guardian, trustee, or executor)

Date

IL-56 (R-12/13)

This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this information is REQUIRED. Failure to provide information could result in a penalty.

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Part no. 1 of filling in Secutity

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Completing part 2 in Secutity

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