Reporting GRATS, GRUTS, ILITS And IDGTs On Form 709: GST Exemption Allocation Calculations And Strategies

Webinar: ID# 1026130
Recorded CD
About This Course:
This webinar provides tax advisers with a thorough and comprehensive guide to the gift and generation skipping tax reporting challenges of allocating GST transfer taxes in circumstances involving the use of GRATs, IDGTs, ILITs and similar trusts. Our nationally-known speaker will discuss how to allocate exemption amounts, as well as other practical tools to minimize GST impact and avoid costly penalties.

Listen as our experienced speaker provides practical guidance on calculating and reporting required allocations, as well as planning opportunities to reduce GST tax impact on IDGTs, GRATs, ILITs and meeting adequate disclosure requirements. Learn how to navigate the overly technical GST regulations to achieve optimal results for your clients.

Course Outline
  • Identifying taxable transfers to skip persons subject to GST reporting in trust documents
  • GRAT and Crummey Trust exemption allocation and reporting
  • IDGT seed gift and sale basics and reporting
  • ETIP rules and GST exemption allocation calculations
  • The adequate disclosure rules

Our speaker will discuss these and other important topics:
  • Opting out of automatic allocation of GST exemptions—when and how
  • Reporting indirect skips
  • Late allocations of GST exemptions
  • Calculating inclusion ratio
  • Avoiding ETIP traps
Learning Objectives

After completing this course, you will be able to:
  • Identify taxable transfers to skip persons
  • Determine whether a late allocation of GST exemption would provide a more favorable tax outcome
  • Recognize correct GST exemption amounts for IDGTs, GRATs, ILITs and Crummey Trusts
  • Distinguish GST exemption on ILIT premiums to avoid GST on life insurance benefits
  • Learn how to complete Form 709 to report GST transfers and make effective elections
How To Access Course And Materials

Handout materials and the phone number for live presentations are made available to you one day prior to the event via email from the presenter. Copies of the presentations are included with recorded versions.

If you order a recorded version of the webinar, CDs will be mailed out approximately 10 days after the live event. Shipping is included in the price of recorded versions.

Continuing Education Credits Available

This program has been approved for 2.0 CPE hours through Strafford Publications. To obtain CPE credit, attendees must participate in the live event (recorded versions do not qualify for credit), return an Official Record of Attendance to Strafford affirming their participation (including the CPE code announced during the program), and pay a processing fee of $35 per person.

Strafford will mail a certificate of credit within approximately two weeks of receiving your completed Official Record of Attendance, provided all required conditions have been satisfied.

Strafford is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.
Reporting GRATS, GRUTS, ILITS And IDGTs On Form 709: GST Exemption Allocation Calculations And Strategies
Available on CD format
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