Notice 2015-57

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Part III - Administrative, Procedural, and Miscellaneous

Due Dates for Compliance with §2004 of H.R. 3236, Consistent Basis Reporting
Between Estate and Person Acquiring Property from Decedent
Notice 2015-57
SECTION 1: PURPOSE
On July 31, 2015, the President of the United States signed H.R. 3236, Surface
Transportation and Veterans Health Care Choice Improvement Act of 2015 (P.L. 11441), into law. Section 2004 of H.R. 3236 enacted sections 1014(f) and 6035. For each
statement required by section 6035 to be filed with the Internal Revenue Service (IRS)
or furnished to a beneficiary before February 29, 2016, this notice delays until February
29, 2016, the due date for filing or furnishing that statement. This notice applies to
executors of estates of decedents and to other persons who are required under
section 6018(a) or (b) to file a return if that return is filed after July 31, 2015.
SECTION 2: BACKGROUND
Section 1014(f) provides rules requiring that the basis of certain property
acquired from a decedent, as determined under section 1014, may not exceed the value
of that property as finally determined for federal estate tax purposes, or if not finally
determined, the value of that property as reported on a statement made under
section 6035.
Section 6035 imposes new reporting requirements with regard to the value of
property included in a decedent’s gross estate for federal estate tax purposes.

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Section 6035(a)(1) provides that the executor of any estate required to file a
return under section 6018(a) must furnish, both to the Secretary and the person
acquiring any interest in property included in the decedent’s gross estate for federal
estate tax purposes, a statement identifying the value of each interest in such property
as reported on such return and such other information with respect to such interest as
the Secretary may prescribe.
Section 6035(a)(2) provides that each person required to file a return under
section 6018(b) must furnish, both to the Secretary and each other person who holds a
legal or beneficial interest in the property to which such return relates, a statement
identifying the information described in section 6035(a)(1).
Section 6035(a)(3)(A) provides that each statement required to be furnished
under section 6035(a)(1) or (a)(2) shall be furnished at such time as the Secretary may
prescribe, but in no case at a time later than the earlier of (i) the date which is 30 days
after the date on which the return under section 6018 was required to be filed (including
extensions, if any) or (ii) the date which is 30 days after the date such return is filed.
Section 6035(b) authorizes the Secretary to prescribe such regulations as
necessary to carry out section 6035. Section 7805(a) provides generally that the
Secretary shall prescribe all needful rules and regulations for the enforcement of this
title, including all rules and regulations as may be necessary by reason of any alteration
of law in relation to internal revenue. Section 7805(b)(2) provides that regulations may
apply retroactively if they are issued within 18 months of the date of the enactment of
the statutory provision to which they relate.

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Section 6081(a) provides that the Secretary may grant a reasonable extension of
time for filing any return, declaration, statement, or other document required by this title
or by regulations. Except in the case of taxpayers who are abroad, no such extension
shall be for more than 6 months.
SECTION 3: GUIDANCE
For statements required under sections 6035(a)(1) and (a)(2) to be filed with the
IRS or furnished to a beneficiary before February 29, 2016, the due date under section
6035(a)(3) is delayed to February 29, 2016. This delay is to allow the Treasury
Department and IRS to issue guidance implementing the reporting requirements of
section 6035. Executors and other persons required to file or furnish a statement under
section 6035(a)(1) or (a)(2) should not do so until the issuance of forms or further
guidance by the Treasury Department and the IRS addressing the requirements of
section 6035.
The Treasury Department and the IRS expect to issue additional guidance to
assist taxpayers with complying with sections 1014(f) and 6035. The Treasury
Department and the IRS invite comments. Submissions should be submitted to:
CC:PA:LPD:PR (Notice 2015-57), Room 5203, Internal Revenue Service,
P.O. Box 7604, Ben Franklin Station, Washington, DC 20044. Submissions may be
hand delivered Monday through Friday between the hours of 8 a.m. and 4 p.m. to
CC:PA:LPD:PR (Notice 2015-57), Courier’s Desk, Internal Revenue Service,
1111 Constitution Avenue, NW, Washington, DC 20044, or sent electronically, via the
following e-mail address: Notice.comments@irscounsel.treas.gov. Please include

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“Notice 2015-57” in the subject line of any electronic communication. All comments
submitted will be available for public inspection and copying.
SECTION 4: EFFECTIVE DATE
This notice is effective on August 21, 2015. This notice applies to executors of
the estates of decedents and to other persons who are required under section 6018(a)
or (b) to file a return if that return is filed after July 31, 2015.
DRAFTING INFORMATION
The principal author of this notice is Theresa Melchiorre of the Office of the
Associate Chief Counsel (Passthroughs & Special Industries). For further information
regarding this notice contact Theresa Melchiorre at (202) 317-6859 (not a toll-free call).