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Official form guide
Form 706-SD: 706 (Schedule D)
IRS Form 706 (Schedule D) is used to report insurance on the decedent’s life for filing with the Department of the Treasury, Internal Revenue Service. It requires listing all policies and must be attached to Form 706; if the gross estate plus adjusted taxable gifts is less than the basic exclusion amount, consideration should be given to reporting asset values [Form p.1].
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IRS Form 706-SD - 706 (Schedule D)
IRS Form 706 (Schedule D) is used to report insurance on the decedent’s life for filing with the Department of the Treasury, Internal Revenue Service. It requires listing all policies and must be attached to Form 706; if the gross estate plus adjusted taxable gifts is less than the basic exclusion amount, consideration should be given to reporting asset values [Form p.1].
Risk Radar
Scan points- 1Failing to list all policies attached to Form 712s will result in incomplete reporting.
- 2Failing to list all policies on the life of the decedent [Form p.1].
- 3Forgetting to attach a Form 712 for each individual policy listed [Form p.1].
- 4Not entering an item number for every insurance policy description [Form p.1].
- 5Incorrectly calculating Line 4 by omitting totals from attached Schedule(s) W [Form p.2].
Plain English
This form details the insurance policies taken out on a deceased person's life that need to be reported with IRS Form 706. It allows filers to list each policy and its value at the time of death, which helps calculate estate tax liability. If required, it also includes totals from any attached schedules.
Submission Date
- Filing date: 2025-08-27 22:10:15
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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Glossary Terms
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What this form is for
- Use this form when reporting insurance on the decedent’s life that must be attached to Form 706.
- Do not use it when you are not required to report the value of an asset, but still need to identify property eligible for deduction (in which case, make no entries in the last three columns).
- Check Form 712 instead when reporting a single life insurance policy.
Form selector
Use this form or another form?
You have multiple policies
This is used to list extra policies not on the main Schedule D.
✓ Check that totals from these attachments are added correctly in Line 3.
Attach Schedule(s) W (Form 706) or additional statements
You only need to identify property but don't report value
This applies if the gross estate plus adjusted taxable gifts is less than the basic exclusion amount.
✓ Ensure you still list all policies on the life of the decedent.
Use this form, but leave columns (iv) and (v) blank
You are reporting a single policy
All insurance on the life of the decedent must be entered here, whether or not included in the gross estate.
✓ Verify that the description accurately reflects the policy details.
Use this form, listing it as one item
Deadline or filing window
The form itself has an August 2025 revision date. The source does not specify a filing deadline relative to the death, but users must attach Schedule D (Form 706) when filing Form 706.
Checklist
What you need before filling it out
All insurance policies
Must be entered on Schedule D (Form 706) · Schedule D (Form 706)
Item number, Description, Alternate valuation date, Alternate value, Value at date of death
These five columns must be completed for each policy · Schedule D (Form 706), Line 1
Total from attached schedules
Must match the sum of all amounts in columns (iv) or (v) on supporting documents · Schedule D (Form 706), Line 3
Final Total
This amount must be added by combining Lines 2 and 3 · Schedule D (Form 706), Line 4
Decedent's Information
Name as it appears on Form 706 and SSN · Schedule D (Form 706) Header
Before you submit
- 1Verify the decedent’s name and social security number are correctly entered at the top of Schedule D (Form 706).
- 2Ensure every single policy on the life of the decedent is listed in Line 1, whether or not it is included in the gross estate.
- 3For each policy, confirm columns (i) through (v) contain accurate data (Item number, Description, Alternate valuation date, Alternate value, Value at date of death).
- 4Calculate and verify that Line 2 correctly sums all amounts from column (iv) or (v) for the policies listed.
- 5Confirm that Line 3 accurately reflects the total from any attached Schedule(s) W (Form 706) or additional statements.
- 6Verify that Line 4 is the correct sum of Line 2 and Line 3.
- 7Ensure you have taken a copy of the completed Schedule D (Form 706).
How to file this form
- 1Enter all insurance on the decedent’s life into Line 1, noting whether it is included in the gross estate.
- 2Add the amounts from column (iv) or column (v) for all policies onto Line 2.
- 3Sum up any totals from attached Schedule(s) W (Form 706) or additional statements and enter that total on Line 3.
- 4Calculate the final Total by adding Line 2 and Line 3 onto Line 4, then attach this completed Schedule D (Form 706) to Form 706.
Known limitations
- 1If an asset's value is not required to be reported on Schedule D (Form 706), the filer must still identify the property but can leave the last three columns blank.
- 2When filing Form 706, if the gross estate plus adjusted taxable gifts is less than the basic exclusion amount and the form is filed solely to elect portability of the DSUE amount, consideration should be given to whether asset values eligible for the marital or charitable deduction must be reported on this schedule.
- 3The instructions do not specify a filing deadline; users must refer to www.irs.gov/Form706 for current deadlines.
Field map
Compact field-by-field guide
Decedent Info
2 items
Full legal name and date of death of the deceased individual.
Employer Identification Number assigned to the estate.
Executor
1 items
Name, address, and contact information of the appointed executor.
Assets
1 items
Total value of all assets owned by the decedent at time of death.
Deductions
1 items
Funeral expenses, debts, administrative costs, and charitable bequests.
Tax
1 items
Tax calculated on taxable estate exceeding the applicable exemption amount.
Signatures
1 items
The appointed executor must sign under penalty of perjury.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition is August 2025, and the source directs users to www.irs.gov/Form706 for instructions and the latest information.
What changed or needs a fresh check
- Edition date — confirm the revision date reads 08/2025.
- Form Number — confirm the form is Schedule D (Form 706).
- Agency reference — confirm it is from the Department of the Treasury, Internal Revenue Service.
- Required attachments — confirm you have attached a Form 712 for every policy listed.
Quick Facts
Downloads
After you file
- 1Attach this Schedule D (Form 706) to Form 706 when filing with the Department of the Treasury, Internal Revenue Service.
- 2Keep a copy of the completed Schedule D (Form 706) for records.
- 3If additional statements are attached, ensure they accompany the schedule.
- 4The total calculated on Line 4 must be entered onto Form 706, Part V, item 4.
Sources
- SRCInstructions p.1 — The form reports insurance on the decedent’s life and must attach to Form 706.
- SRCForm p.1 — All policies listed must be attached with a corresponding Form 712 for each policy.
- SRCForm p.1 — If reporting is not required, identify property but make no entries in columns (iv), (v), and the final total calculation.
- SRCForm p.2 — Line 2 requires adding all amounts from column (iv) or column (v).
- SRCForm p.2 — Line 3 requires totaling any Schedule(s) W (Form 706) or additional statements attached to this schedule.
- SRCForm p.2 — Line 4 is the final total, calculated by adding lines 2 and 3.
- SRCNot stated in the official source — verify on the agency site regarding the exact required format for listing properties when not reporting value.
Common confusion points
What do I list if my policy isn't in the gross estate?
List all insurance policies on the decedent’s life, regardless of whether they are included in the gross estate.
Why must I attach a Form 712 for every policy?
Attach a Form 712 to support each individual policy listed on Schedule D (Form 706).
What do lines 2 and 3 represent when calculating the total?
Line 2 is the sum of column (iv) or column (v); Line 3 is the total from any attached Schedule(s) W.
How do I report values if I'm not required to?
Identify the property but enter no amounts in columns (iv), (v), and the final total calculation.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Attach additional statements if the space on this schedule runs out.
Questions about IRS Form 706-SD
What is IRS Form 706-SD used for?
This form details the insurance policies taken out on a deceased person's life that need to be reported with IRS Form 706. It allows filers to list each policy and its value at the time of death, which helps calculate estate tax liability. If required, it also includes totals from any attached schedules.
Who must file IRS Form 706-SD?
Filers must report insurance on the decedent’s life for filing Form 706 (Schedule D). The source does not specify a filer category beyond this requirement.
What information does IRS Form 706-SD require?
The form collects details by listing each policy using an Item number, Description, Alternate valuation date, Alternate value, and Value at date of death. Totals are calculated on lines 2, 3, and 4 before entering the final amount onto Form 706, Part V, item 4.
When is IRS Form 706-SD due?
The source does not state a specific filing deadline for Schedule D (Form 706), but it is attached to Form 706. The form itself has an August 2025 revision date.
Where do I file IRS Form 706-SD?
Filing instructions direct users to www.irs.gov/Form706 for the latest information, which governs where the form must be sent.
How do I complete IRS Form 706-SD?
First, enter all insurance policies onto Schedule D (Form 706), whether or not they are included in the gross estate. Then, add up the values from column (iv) or (v) to reach Line 2. Finally, total lines 2 and 3 to get the final amount for Line 4, which is entered on Form 706, Part V, item 4.
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