Atlanta Georgia online Form 8855 2020-2025

Atlanta Georgia online Form 8855: What You Should Know

Contact Us. Atlanta, GA 30339. About the Form 8855 — Election to Treat a Qualified Revocable Trust As a Part of an Estate. Form 8855. Form 8855 is used to make a section 645 election, which election allows Georgia, Hawaii, Illinois and North Carolina appointees to the Internal Revenue Service to treat as a part of a deceased individual's estate all qualified revocable trusts that existed on December 31, 2017, the date of death of the tax year for which the trust will have its election taken into account. What Does the Form 8855 Say? The form 8855 explains how to “act” a trust as a part of an estate. The form is divided into two parts. Part I explains how to fill out the new election, Part II explains how to report the transfer. Part I. Notice to Transfer Trustees Part I. Notice to Transfer Trustees Acknowledged by the Trustee to the Trustee in Trust The notice must be: a. in paper form b. served on all the trustees or beneficiaries within 72 hours after the trust was created The notice must tell them that a notice to transfer the trust is in the mail and that the trustee is responsible for taking action at the time of receipt of the notice. You do not have to sign the notice. You do not have to send the notice. What your trustee and any of the other trust beneficiaries have to do is sign it. A copy of the notice must be sent to the IRS by certified mail, return receipt requested.  A copy of the notice must be sent to the IRS by overnight delivery. (Make a copy of the notice and send a duplicate copy via overnight delivery if there is only one address of the trust.) Only you, your child or grandchildren, your spouse, your adult spouse, or your unmarried adult child has to sign it Part II. Return to Form 8855 — Taxpayer Identification Number The return is a document that shows the basis for the trust. The return must contain: a. the original filing reference number for Part II b. the original identification number of the beneficiary(s) of the trust The IRS does not accept electronic returns. (The return must be made in paper form.) If the return fails to contain all the information required by Part II, the trust is void and no taxpayer identification number is required for the trustee or beneficiary.

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