Section 2000.100  Prescribed Return

 

All persons required by Section 6(c) of the Illinois Estate and Generation-Skipping Transfer Tax Act [35 ILCS 405/6(c)] to file a return pursuant to the Illinois Estate and Generation-Skipping Transfer Tax shall file a return. The Attorney General shall provide a form for the return, but other forms that contain the information prescribed in this Section will also be accepted.  An acceptable form must contain the following information:

 

a)         Decedent's name;

 

b)         Date of death;

 

c)         Decedent's complete address;

 

d)         Decedent's Social Security Number;

 

e)         Name of Illinois county in which decedent resided or, if non-resident, Illinois county in which the greatest value of property is located;

 

f)         Name of personal representative or person filing return;

 

g)         Complete address and telephone number of personal representative or person filing return;

 

h)         Name of preparer of return;

 

i)          Complete address and telephone number of preparer of return;

 

j)          Statement of whether a federal estate tax return is required to be filed and, if so, a copy of the federal return shall be attached to the Illinois return; if not, an itemized schedule of all assets, wherever located, in the form described in Section 2000.110, shall be attached;

 

k)         Statement of whether the decedent was an Illinois resident, a non-resident or a nonresident not a citizen, and the year domicile was established;

 

l)          Statement of the due date of the return, any extension of the due date of the federal estate tax return, and, if extended, a copy of the federal return extension request;

 

m)        A certification that the return, and all accompanying schedules and attachments, are true and correct and that any copies of the federal return and its attachments are true and correct copies of the originals;

 

n)         Signature, title and date of signature of the personal representative;

 

o)         Signature and date of signature of the preparer;

 

p)         A statement of the total amount of Illinois estate tax due, which is an amount equal to the maximum tax credit calculable from the federal state death tax credit table in effect on December 31, 2001 (26 U.S.C. 2011(b)(1) (2002));

 

q)         A statement of taxes that were paid to other states and that would have qualified for the federal state death tax credit as of December 31, 2001 in accordance with subsection (p);

 

r)          A statement of the net tax remaining after deduction of qualifying taxes paid to other states;

 

s)         A statement of the gross estate value for estate tax purposes of assets having taxable situs in Illinois;

 

t)          A statement of the gross estate assets' value for federal estate tax purposes wherever located;

 

u)         A statement of the percentage of Illinois situs assets to gross estate assets;

 

v)         A statement as to the amount of tax attributable to Illinois as determined by multiplying the total amount of Illinois estate tax due by the percentage of the Illinois situs assets to gross estate assets;

 

w)        A statement of the maximum allowable credit for State taxes pursuant to section 2604 of the Internal Revenue Code (26 U.S.C. 2604, Generation-Skipping Transfer Tax provisions).  If any such credit is allowable, the federal Generation-Skipping Transfer Tax return with computations shall be attached;

 

x)         A statement of any allowable Generation-Skipping Transfer Tax credit for tax paid to other states;

 

y)         A statement of the difference between the total Generation-Skipping Transfer Tax State credit and the amount paid to other states;

 

z)         A statement of the total tax payable to Illinois;

 

aa)       A statement of any late filing penalty;

 

bb)       A statement of any late payment penalty;

 

cc)       A statement of any interest;

 

dd)      A statement of the total tax, penalties, and interest due;

 

ee)       A statement of all payments made and copies of receipts for payments;

 

ff)        A statement of any balance due;

 

gg)       A statement of any amount payable in installments under 35 ILCS 405/6;

 

hh)       If any amounts are payable in installments, a statement of the gross value of the closely held business in Illinois, the gross value of all Illinois assets, the percentage of Illinois closely held business assets to all Illinois assets, and the result of applying the percentage to tax due Illinois;

 

ii)         If any Illinois qualified terminable interest property (QTIP) election is claimed, a statement as to the amount of the election claimed.  If this amount includes trust property, state the percentage of the trust made subject to the election; and

 

jj)         If any Illinois QTIP election was made in the estate of the decedent's predeceased spouse, a statement as to the value at the date of death of the current decedent of the assets made subject to the prior Illinois QTIP election.

 

(Source:  Amended at 48 Ill. Reg. 12718, effective August 8, 2024)

 

Section 2000.101  Form of Return (Repealed)

 

(Source:  Repealed at 31 Ill. Reg. 117, effective December 20, 2006)

 

Section 2000.110  Schedule of Assets

 

a)         Any itemized schedule of all assets must contain:

 

1)         A schedule showing real estate owned individually by the decedent, with identification of any real estate valued under Section 2032A of the Internal Revenue Code (26 U.S.C. 2032A);

 

2)         A schedule showing stocks and bonds owned individually by the decedent with description, face amount of bonds, or number of shares;

 

3)         A schedule showing mortgages, notes and cash owned individually;

 

4)         A schedule showing insurance on the decedent's life;

 

5)         A schedule showing all jointly owned property of the decedent separated by interests held with a spouse as the only joint tenant and all other joint interests;

 

6)         A schedule showing all other miscellaneous property not reportable under any other schedule of the decedent;

 

7)         A schedule showing all transfers within three years before the decedent's death;

 

8)         A schedule showing powers of appointment held by the decedent;

 

9)         A schedule showing all annuities owned by the decedent;

 

10)         A schedule showing funeral expenses and expenses incurred in administering property subject to claims of the decedent's estate;

 

11)         A schedule showing debts of the decedent, and mortgages and liens;

 

12)         A schedule showing net losses during administration and expenses incurred in administering property not subject to claims;

 

13)         A schedule showing bequests and transfers to a surviving spouse;

 

14)         A schedule showing charitable, public, and similar gifts and bequests;

 

15)         A recapitulation of all schedules;

 

16)         A schedule of all adjusted taxable gifts as determined under the Gift and Estate Taxes provisions of the Internal Revenue Code (26 U.S.C. 2001 and 2503);

 

17)         A schedule showing the calculation of the tentative taxable estate by subtracting allowable deductions from the gross estate total of all schedules without adjusted taxable gifts;

 

18)         An explanation and documentation of the distribution of the estate, including, but not limited to, wills, trusts, and beneficiary designations, including the social security numbers of such transferees;

 

19)         A schedule of assets as to which an Illinois QTIP election is claimed.  The schedule need not list the individual assets included in the corpus of a trust made subject to election; and

 

20)         A schedule of assets of the decedent's predeceased spouse for which an Illinois QTIP election was claimed, valued as of the date of death of the current decedent.  The schedule should include the total value of the corpus of any trust made subject to the election.

 

b)         All schedules provided as part of the itemized schedule of assets shall include documentation of values and amounts.  Real estate listings, including any such listings obtained from websites, are not sufficient to establish the fair market value of real property for purposes of the Illinois Estate Tax unless the listings provide the underlying factual basis for the value assigned to the property and explain how the value assigned was determined.  "Underlying factual basis" may consist of comparable sales, recent appraised value, or other indicators of fair market value.  The adequacy of any documentation submitted to establish the fair market value of real property will be determined on a case-by-case basis.

 

c)         The requirements of this Section may be satisfied by the filing of the most recent United States Estate (and Generation-Skipping Transfer) Tax Return published by the Internal Revenue Service or by the filing of any other form that contains the same information.  Any return or other form must state the value of each individual asset and deduction.  If a return has been filed with the Internal Revenue Service that omits the value of any individual asset or deduction pursuant to 26 CFR 20.2010-2(a)(7)(ii), a copy of the return shall be filed with the Attorney General along with a second return or form which lists the value of each individual asset or deduction.

 

(Source:  Amended at 48 Ill. Reg. 12718, effective August 8, 2024)

 

Section 2000.200  Estate Tax Treatment of Civil Unions

 

a)         Whenever the Illinois Estate and Generation-Skipping Transfer Tax Act incorporates provisions of the Internal Revenue Code, those provisions shall be construed in accordance with the Illinois Religious Freedom Protection and Civil Union Act [750 ILCS 75].  Individuals who are parties to a civil union recognized under 750 ILCS 75 occurring on or after June 1, 2011 shall be subject to the same obligations and responsibilities and afforded the same protections and benefits under this Part as apply to spouses in a marriage recognized for federal estate tax purposes.  An Illinois marital deduction, including qualified terminable interest property (QTIP) elections allowable under 35 ILCS 405/2(b-1), is therefore allowable for property passing from a decedent to his or her partner in a civil union recognized under 750 ILCS 75 to the same extent that property transferred to a husband or wife is allowable as a marital deduction, including QTIP elections, under the Internal Revenue Code (26 U.S.C. 2044 and 2056).  Because civil unions are not recognized for federal estate tax purposes, civil union partners recognized under 750 ILCS 75 who elect a marital deduction and QTIP elections for Illinois estate tax purposes are required to file the following returns, or the information required by Sections 2000.100 and 2000.110, with the Illinois Attorney General:

 

1)         A Form 700 Illinois Estate and Generation-Skipping Transfer Tax Return, available on the Attorney General's website (https://www.illinoisattorneygeneral.gov/estate-taxes/);

 

2)         A pro forma Federal Form 706 United States Estate (and Generation-Skipping Transfer) Tax Return completed as if the federal estate tax statutes allowed a marital deduction to civil union partners recognized under 750 ILCS 75 that reflects the marital deductions claimed; and

 

3)         For those estates that were required to file a return in accordance with federal law (26 U.S.C. 2001 et seq.), a copy of the Federal Form 706 United States Estate (and Generation-Skipping Transfer) Tax Return actually filed with the Internal Revenue Service.

 

b)         As used in this Section, the term "Qualified terminable interest property" or "QTIP" has the same meaning as prescribed in 26 U.S.C. 2056(b)(7)(B).

 

(Source:  Amended at 48 Ill. Reg. 12718, effective August 8, 2024)

Section 2000.APPENDIX A   Estate and Generation Skipping Transfer Tax Return (Repealed)

 

(Source:  Repealed at 31 Ill. Reg. 117, effective December 20, 2006)