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Official form guide
Form 706-SI: 706 (Schedule I)
IRS Form 706 (Schedule I) is used to report annuity values attached to a larger estate tax return for decedents dying after December 31, 1984. The form details the value of annuities being excluded from the decedent’s gross estate.
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IRS Form 706-SI - 706 (Schedule I)
IRS Form 706 (Schedule I) is used to report annuity values attached to a larger estate tax return for decedents dying after December 31, 1984. The form details the value of annuities being excluded from the decedent’s gross estate.
Risk Radar
Scan points- 1Failing to attach Schedule W when excluding a lump-sum distribution is a major error.
- 2Failing to attach Schedule W when excluding a lump-sum distribution (Section 2039(f)(2)).
- 3Not identifying property but making entries in the last three columns if exclusion is not required.
- 4Omitting the decedent's name as it appears on Form 706 at the top of Schedule I.
- 5Failing to show the entire annuity value before any exclusions for each item listed.
Plain English
This form helps calculate how much property an estate has that comes in the form of annuities. It provides the necessary details about these annuity payments so the IRS can properly assess the total taxable wealth of the deceased person's estate. This information is attached to Form 706 itself.
Submission Date
- Filing date: 2025-08-27 22:10:12
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when reporting annuity values attached to Form 706 for decedents dying after December 31, 1984.
- Do not use it when the gross estate value is less than the basic exclusion amount and you are filing solely to elect portability of the DSUE amount (consider instructions).
- Check Schedule W (Form 706) instead when detailing specific exclusions from the decedent’s gross estate.
Form selector
Use this form or another form?
Excluding a lump-sum distribution
Required if excluding value under section 2039(f)(2) before its repeal.
✓ Check Schedule W (Form 706) for details.
Reporting Annuities
Used to list all annuities received by the decedent, detailing values and dates.
✓ Ensure all annuity types are described per instructions.
Totaling Values
Line 5 totals amounts from lines 3 and 4, which must be entered on Form 706, Part V, item 9.
✓ Verify the total calculation matches your main Form 706.
Deadline or filing window
The form itself does not specify a filing deadline date. It must be attached to Form 706, which governs the filing timeline for estate tax purposes. No specific extension period is noted on this schedule.
Checklist
What you need before filling it out
Line 1
Yes/No selection box · Form p.1
Line 2 (i, ii)
Item number and Description of annuity · Form p.1 & p.2
Column (iv) or (v) on Line 3
Includible alternate value OR Includible value at date of death · Form p.1 & p.2
Line 5
Sum of Lines 3 and 4 · Form p.2
Decedent's Name/SSN
Decedent’s name as it appears on Form 706 & SSN · Form p.1
Before you submit
- 1Ensure the decedent's name matches exactly as it appears on Form 706.
- 2Confirm that all annuities received by the decedent are listed in Line 2 (i) and (ii).
- 3Verify that for each annuity, the entire value before exclusions is shown in column (iii).
- 4Check if an exclusion for a lump-sum distribution applies; if so, select 'Yes' on Line 1.
- 5If 'Yes' is selected on Line 1, confirm Schedule W (Form 706) or additional statements are attached.
- 6Ensure the total from Line 5 is correctly entered onto Form 706, Part V, item 9.
- 7Confirm that if you are not required to report an asset value, you have identified it but made no entries in the last three columns.
How to file this form
- 1Complete all fields on Schedule I (Form 706), including Decedent's Name and SSN.
- 2List every annuity received by the decedent in Line 2, providing a description for each.
- 3Calculate and enter the relevant values—Includible alternate value (iv) or Includible value at date of death (v)—on Line 3.
- 4Sum all amounts from Line 3 and any attached Schedule(s) W on Line 4, then total both on Line 5.
- 5Attach any required Schedule(s) W (Form 706) or additional statements if necessary.
- 6Enter the final amount from Line 5 onto Form 706, Part V, item 9.
- 7Sign and date the form before mailing a copy to yourself for records.
Known limitations
- 1Generally, no exclusion is allowed for estates of decedents dying after December 31, 1984.
- 2If the gross estate value plus adjusted taxable gifts is less than the basic exclusion amount and Form 706 is filed solely to elect portability of the DSUE amount, consideration should be given as to whether the asset values eligible for marital or charitable deduction must be reported on this schedule.
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.
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Fillable formOpen in Editor->The current edition is 08/25 (August 2025), and instructions direct users to www.irs.gov/Form706 for the latest information.
What changed or needs a fresh check
- Edition date — confirm the revision reads August 2025.
- OMB Number — confirm it is 1545-0015.
- Tax Year/Filing Period — not stated in the source (verify on the form).
- Schedule W attachment — confirm Schedule(s) W are attached if required by line 1.
Quick Facts
Downloads
After you file
- 1Keep a copy of the completed IRS Form 706 (Schedule I).
- 2Attach Schedule(s) W (Form 706) or additional statements if required, especially when answering 'Yes' to excluding a lump-sum distribution.
- 3Enter the total amounts from lines 3 and 4 onto Form 706, Part V, item 9 after filing this schedule.
- 4The form is dated August 2025 (8-2025), so ensure the revision date matches the current edition being used.
Sources
- SRCInstructions p.1 — The form attaches to Form 706, and instructions are available at www.irs.gov/Form706.
- SRCInstructions p.1 — Generally, no exclusion is allowed for estates of decedents dying after December 31, 1984.
- SRCInstructions p.1 — If more space is needed on Schedule I (Form 706), attach Schedule(s) W (Form 706) or additional statements.
- SRCInstructions p.1 — Line 1 asks if the value of a lump-sum distribution described in section 2039(f)(2) is being excluded from the decedent’s gross estate.
- SRCInstructions p.1 — Line 2 requires entering all annuities received, including item number and description.
- SRCInstructions p.1 — Columns (iii), (iv), and (v) on Line 2 represent Alternate valuation date, Includible alternate value, and Includible value at date of death for each annuity.
- SRCInstructions p.2 — Line 3 adds amounts from column (iv) or column (v) as applicable.
- SRCInstructions p.2 — Line 4 is the Total from Schedule(s) W (Form 706) (or additional statements) attached to this schedule.
- SRCInstructions p.2 — Line 5 totals lines 3 and 4, which are entered on Form 706, Part V, item 9.
Common confusion points
Must I report an annuity even if it's not excluded from the gross estate?
Line 2 requires entering all annuities received, regardless of exclusion status.
→ Check lines 1 and 2 to confirm required entries.
How do I handle a lump-sum distribution exclusion?
If excluding one (Yes on line 1), Schedule W or additional statements must be attached with the necessary information.
→ Ensure you attach supporting documents if answering 'Yes' on line 1.
What goes in column (v)?
Column (v) is the Includible value at date of death for each annuity listed on Line 2.
→ Confirm this value reflects the total value before any exclusions are applied to that specific annuity.
If I don't need to report an asset's value, what do I do?
Identify the property but make no entries in the last three columns (iii, iv, and v).
→ Verify that you have identified the property if skipping the detailed valuation fields.
Where do the totals go after filling out this schedule?
The total from lines 3 and 4 must be entered onto Form 706, Part V, item 9.
→ Confirm line 5 is used to aggregate these amounts for entry on Form 706.
What does 'DSUE amount' mean in the context of this form?
It refers to the amount related to election portability, and consideration must be given whether asset values should be reported when filing solely for this purpose.
→ Refer to the instructions accompanying Form 706 for a full definition.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Schedule W (Form 706) — This schedule must be attached if you exclude a lump-sum distribution.
Questions about IRS Form 706-SI
What is IRS Form 706-SI used for?
This form helps calculate how much property an estate has that comes in the form of annuities. It provides the necessary details about these annuity payments so the IRS can properly assess the total taxable wealth of the deceased person's estate. This information is attached to Form 706 itself.
Who must file IRS Form 706-SI?
The filer category must be someone handling the estate of a decedent, as indicated by the requirement to list the Decedent’s name and social security number on Schedule I (Form 706).
What information does IRS Form 706-SI require?
Schedule I (Form 706) collects details about annuities received by listing the Item number and Description. It requires showing the entire value before exclusions, along with alternate valuation dates and includible values at date of death.
Where do I file IRS Form 706-SI?
The form must be attached to Form 706. Instructions are available at www.irs.gov/Form706 for further routing information.
How do I complete IRS Form 706-SI?
First, complete the Decedent’s information at the top. Next, list all annuities in section 2 (lines 1-5), ensuring you include descriptions and values before exclusions. Finally, add totals from lines 3 and 4 to enter onto Form 706, Part V, item 9.
What happens if IRS Form 706-SI is filed incorrectly?
If the value of the gross estate, combined with adjusted taxable gifts, is less than the basic exclusion amount and Form 706 is filed solely to elect portability of the DSUE amount, consideration must be given regarding whether assets eligible for deduction should be reported on this schedule.
Must I report an annuity even if it's not excluded from the gross estate?
Line 2 requires entering all annuities received, regardless of exclusion status. Check lines 1 and 2 to confirm required entries.
How do I handle a lump-sum distribution exclusion?
If excluding one (Yes on line 1), Schedule W or additional statements must be attached with the necessary information. Ensure you attach supporting documents if answering 'Yes' on line 1.
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