Preparing Redesigned Form 706-NA: Estate and Gift Tax Treaties, U.S. Situs Assets, Allowable Deductions

This webinar will explain how to prepare Form 706-NA, U.S. Estate and GST Tax Return, for green card holders and nonresidents. Our panel of trust and estate tax experts will discuss assets that are included in the gross estate, available deductions, and the effect of death tax treaties on the taxable estate. They will also demonstrate how to complete Form 706-NA, including the 2025 revisions, to illustrate the process.

Like U.S. residents, the estate of a nonresident alien (NRA) is valued either as of the date of death or using the alternate valuation date (six months later). After valuation, the estate applies the available exemption and allowable deductions to determine the taxable estate. NRAs must also comply with the basis-reporting requirements for assets transferred to beneficiaries by filing Form 8971.

However, unlike U.S. citizens and residents, NRAs are subject to a significantly smaller estate tax exemption, only $60,000, compared to the $15 million exemption scheduled for 2026, making proactive planning essential for these individuals.

In September 2025, the IRS redesigned Form 706-NA to streamline processing. Key updates include the addition of a new Part V on page three for reporting the Gross Estate situated in the United States, and the removal of the prior authorized-representative section in Part III. Going forward, taxpayers must instead submit Form 2848, Power of Attorney, separately.

Although the revised form appears straightforward, with only three pages divided into five parts, the filing requirements remain complex. Numerous attachments, supplemental schedules, and cross-border considerations make accurate preparation challenging.

Trust and estate practitioners working with multinational families must understand how the estates of nonresident individuals are reported, valued, and taxed.

Join our panel of international estate tax experts as they walk through the preparation of the revised Form 706-NA, together with its required schedules, attachments, and related filings for nonresident decedents.

Listen as our panel of international estate tax experts explains the preparation of revised Form 706-NA and its other required forms, schedules, and attachments for nonresidents.