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Form 712: Life Insurance Statement
IRS Form 712 (Rev. December 2024) Life Insurance Statement is used to report life insurance details for both deceased and living insureds; it must be filed with the estate tax return.
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IRS Form 712 - Life Insurance Statement
IRS Form 712 (Rev. December 2024) Life Insurance Statement is used to report life insurance details for both deceased and living insureds; it must be filed with the estate tax return.
Risk Radar
Scan points- 1File a separate Form 712 for every single insurance policy you are reporting.
- 2Filing Part I without attaching the necessary copy of the policy application (if decedent is not owner).
- 3Reporting the cumulative premium on line 13 instead of the annual premium for Part I.
- 4Not filing a separate Form 712 for each individual insurance policy held by the taxpayer.
- 5Failing to certify the statement with an officer's signature, title, and date on either part.
Plain English
This form provides the IRS with official documentation about a life insurance policy. It allows filers to show details about who owned the policy, when it was issued, and how much coverage there is. The statement certifies that the information provided by the insurer is true and correct for federal tax purposes.
Submission Date
- Filing date: 2025-01-10 22:10:25
- 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 life insurance details for a decedent or an insured person, as certified by the issuing insurance company officer.
- Do not use it when filing a separate statement for each policy; file one Form 712 per policy.
- Check Form 706 instead when filing the United States Estate (and Generation-Skipping Transfer) Tax Return for the decedent.
Form selector
Use this form or another form?
Filing for a Decedent (Part I)
Part I is filed by the executor with Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return, or Form 706-NA, United States Estate (and Generation-Skipping Transfer) Tax Return, if the estate is of a nonresident not a citizen of the United States.
✓ Confirm you are filing Part I when reporting on the life insurance proceeds for a deceased person.
Filing for a Living Insured (Part II)
Part II can be filed with Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return, and Form 709-NA, United States Gift (and Generation-Skipping Transfer) Tax Return on Nonresident Not a Citizen of the United States.
✓ Use this form when reporting valuation data for a policy while the insured is alive.
Filing Part II with Estate Forms
If the decedent owned insurance on the life of another person, Part II of Form 712 may also be filed with Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return, or Form 706-NA, United States Estate (and Generation-Skipping Transfer) Tax Return, Estate of nonresident not a citizen of the United States.
✓ Check if Part II data needs to accompany the estate tax return instead of just the gift tax return.
Deadline or filing window
The timing is tied to the filing of the associated tax return (Form 706 or Form 709). The instructions do not state a specific deadline, but failure to provide this information may delay or prevent processing your request. Not stated in the official source regarding an extension window.
Checklist
What you need before filling it out
Decedent’s social security number
Social Security Number (if known) · Part I, Lines 3
Amount of proceeds if payable in one sum
Dollar amount from the policy · Part I, Line 24
Date assigned (Part II)
Date assignment occurred · Part II, Line 52
Interpolated terminal reserve
Dollar amount on date of death/assignment/irrevocable designation · Part II, Line 58
Line 31 (Transfers)
Yes or No selection regarding transfers in the last 3 years · Part I, Line 31
Assignor’s name (Part I)
Name of the person assigning the policy · Part I, Line 10
Before you submit
- 1Ensure an officer's signature and title are present on the statement.
- 2Verify that a separate Form 712 is completed for every policy being reported.
- 3Confirm Line 13 reports the annual premium, not the cumulative premium to date of death.
- 4If the decedent is not the owner, attach a copy of the application (Part I, Line 8).
- 5If installment benefits are authorized for a surviving spouse, check the box and attach a policy copy (Part I, Line 26).
- 6If transfers occurred in the last 3 years, ensure the date is entered on Part I, Line 32.
- 7Check that all required fields in Section B (Policy Information) are completed.
How to file this form
- 1Complete Part I by filling out Decedent information (Lines 1-10), policy details (Lines 6-8), and financial data (Lines 23-35).
- 2Complete Section B on Page 2 by entering the Insured's details (Lines 41-57) and specific policy figures (Lines 47, 59e).
- 3Sign and date the certification section on Page 1 or Page 2, depending on which part is being certified.
- 4File a separate Form 712 for each individual life insurance policy reported.
Known limitations
- 1When reporting policy details for a decedent (Part I), if the decedent was not the owner of the policy, a copy of the application must be attached.
- 2For the living insured section (Part II), Form 712 can be filed with Form 706-NA when the decedent owned insurance on the life of another person.
- 3When reporting for a living insured (Part II), if the donor was also the decedent, the first name and middle initial are reported on line 36.
- 4Line 13 of Form 712 requires reporting the annual premium, not the cumulative premium to date of death.
- 5If the death occurred after the end of the policy's premium period, the last annual premium must be reported.
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 Form 712 (Rev. December 2024); users should visit www.irs.gov/Form712 for the latest information regarding developments related to this form.
What changed or needs a fresh check
- Edition date — confirm the revision reads December 2024.
- Mailing address — Not stated in the official source (verify on the agency site).
- Signature — ensure an officer of the insurance company certifies the statement, or appropriate federal/retirement system official signs.
- Line 13 value — confirm the amount entered is the annual premium, not the cumulative premium to date of death.
Quick Facts
Downloads
After you file
- 1Retain books or records relating to Form 712 as long as their contents may become material in the administration of any Internal Revenue law.
- 2The estimated average time required for Recordkeeping when completing this form is 18 hours and 11 minutes.
- 3If a taxpayer requests prompt assessment, they must provide the information requested on Form 712 to allow IRS processing.
- 4Do not send the tax return that uses Form 712 to the same office; instead, return it to the executor or representative who requested it.
Sources
- SRCPart I must be filed by the executor with Form 706 or Form 706-NA (Estate of nonresident not a citizen) (Instructions p.1).
- SRCFor Part II, it is filed with Form 709 or Form 709-NA (Nonresident Not a Citizen), but also with Form 706/706-NA if the decedent owned insurance on another (Page 2).
- SRCLine 13 requires reporting the annual premium, not the cumulative premium to date of death (Instructions p.3).
- SRCIf death occurred after the end of the premium period, report the last annual premium (Instructions p.3).
- SRCPart I must be made by an officer of the issuing insurance company with access to records (Instructions p.3).
- SRCFile a separate Form 712 for each policy (Instructions p.3).
- SRCThe form is governed by OMB No. 1545-0022 and is dated Rev. December 2024 (Form p.1).
- SRCFor Part II, the general information section includes the Date of gift for which valuation data submitted on line 39 (Page 2).
Common confusion points
Who files Part I (Decedent) of Form 712?
The executor files this part with Form 706 or Form 706-NA.
→ Check line 1 on Part I.
Which tax return must be filed when using Part II (Living Insured)?
It is generally filed with Form 709 or Form 709-NA, but can also go with Form 706/706-NA if the decedent owned life insurance on another person.
→ Check lines 39 and 40 on Part II.
What do you report on Line 13 for a policy?
Report the annual premium, not the total cumulative premium up to the date of death.
→ Verify this detail in the General Instructions section (Form p.3).
When reporting transfers of policies within 3 years prior to death, what must be entered if 'Yes' is checked on Line 31?
The date of assignment or transfer must be entered in Month/Day/Year format on line 32.
→ Check lines 31 and 32 on Part I.
Can the insurance company use a digital signature for certification?
Yes, an officer can use a facsimile signature instead of a manual one, and it is binding as a manual signature.
→ Review the certification section on Form p.3.
What if the policy owner is not the decedent?
A copy of the application must be attached to Part I (Decedent) for that specific policy.
→ Check line 8 on Part I.
Workflow map
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⚠ If something goes wrong
- If you have questions about developments or legislation related to this form, check www.irs.gov/Form712.
Questions about IRS Form 712
What is IRS Form 712 used for?
This form provides the IRS with official documentation about a life insurance policy. It allows filers to show details about who owned the policy, when it was issued, and how much coverage there is. The statement certifies that the information provided by the insurer is true and correct for federal tax purposes.
Who must file IRS Form 712?
For Part I (Decedent—Insured), the executor must file this form with Form 706 or Form 706-NA. For Part II (Living Insured), a donor or decedent files it with Form 709 or Form 709-NA.
What information does IRS Form 712 require?
Part I collects information about the deceased person, such as their name and date of death. Part II details the living insured's policy specifics, including the face amount and issue date.
Where do I file IRS Form 712?
The form should be returned to the executor or representative who requested it, rather than being sent directly to the associated tax office. Go to www.irs.gov/Form712 for the latest information.
How do I complete IRS Form 712?
A separate Form 712 must be filed for each policy. Part I requires an officer's signature, while Part II also needs certification by an officer. When filling out Part I, report the annual premium on line 13, not the cumulative total.
What happens if IRS Form 712 is filed incorrectly?
Failure to provide the requested taxpayer identification numbers (Section 6109) may delay or prevent processing a request for assessment. Failure to file correctly can also result in delays or prevention of processing your tax return.
Who files Part I (Decedent) of Form 712?
The executor files this part with Form 706 or Form 706-NA. Check line 1 on Part I.
Which tax return must be filed when using Part II (Living Insured)?
It is generally filed with Form 709 or Form 709-NA, but can also go with Form 706/706-NA if the decedent owned life insurance on another person. Check lines 39 and 40 on Part II.
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