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Official form guide
Form 706-SD: 706 (Schedule D)
IRS Form 706 is the United States Estate Tax Return; Schedule D (Form 706) reports all life‑insurance policies of the decedent and must be attached to the main return. You must list every policy and attach a Form 712 for each one.
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IRS Form 706-SD - 706 (Schedule D)
IRS Form 706 is the United States Estate Tax Return; Schedule D (Form 706) reports all life‑insurance policies of the decedent and must be attached to the main return. You must list every policy and attach a Form 712 for each one.
Risk Radar
Scan points- 1Omitting a required Form 712 for a listed life‑insurance policy.
- 2Failing to list a life‑insurance policy on the decedent’s estate in the Schedule D table.
- 3Leaving entries in the last three columns for assets that are not required to be reported.
- 4Not attaching a separate Form 712 for each life‑insurance policy listed.
- 5Omitting the totals from attached Schedule W on line 3 of Schedule D.
Plain English
Schedule D of Form 706 tells the IRS about any life‑insurance the deceased owned. It requires you to write down each policy, its value at death or on an alternate valuation date, and then total those amounts. The totals are then entered on the main Form 706. Attach any needed Form 712 or Schedule W.
Submission Date
- Filing date: 2025-08-27 22:10:15
- 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 you need to report all life‑insurance policies of the decedent.
- Do not use it when there is no life‑insurance on the decedent to report.
- Check Form 712 instead when you must provide detailed information for each individual life‑insurance policy.
Form selector
Use this form or another form?
Need to give policy‑by‑policy details
Provides required information for each life‑insurance policy
✓ Verify policy data before attaching
Additional space required for many policies
Allows continuation of insurance listings beyond Schedule D space
✓ Attach schedule and reference it
Reporting other estate assets, not insurance
Main estate tax return where Schedule D totals are entered
✓ Enter totals on Part V, item 4
Deadline or filing window
Not stated in the official source.
Checklist
What you need before filling it out
Description (column ii)
Life‑insurance policy details · Schedule D entry
Alternate valuation date (column iii)
Date of alternate valuation, if used · Policy documents
Alternate value (column iv)
Valuation amount on alternate date · Policy valuation statement
Value at date of death (column v)
Death‑date cash value · Insurance death benefit statement
Total line 4
Sum of lines 2 and 3 · Schedule D calculations
Before you submit
- 1Enter each insurance policy on a separate line in Schedule D.
- 2Attach a Form 712 for every listed policy.
- 3If space runs out, attach Schedule W (Form 706) or additional statements.
- 4Add amounts in column (iv) or column (v) as applicable.
- 5Calculate the total for line 2 by summing columns (iv) or (v).
- 6Calculate the total for line 3 from any attached Schedule W.
- 7Add lines 2 and 3 to obtain line 4.
- 8Transfer the line 4 total to Form 706, Part V, item 4.
- 9Sign the accompanying Form 706 before mailing.
How to file this form
- 1Gather all life‑insurance policies of the decedent.
- 2Complete Schedule D entries for each policy.
- 3Attach a Form 712 for each policy.
- 4If necessary, attach Schedule W (Form 706) or additional statements for extra space.
- 5Calculate line 2 and line 3 totals and add them for line 4.
- 6Enter the line 4 total on Form 706, Part V, item 4.
- 7Mail the assembled return and retain proof of mailing.
Known limitations
- 1Do not use Schedule D for assets that are not life‑insurance; those belong on other schedules.
- 2If you are not required to report the value of an asset, list the property but leave the last three columns blank.
- 3When filing solely to elect portability and the estate value is below the basic exclusion amount, reporting certain marital or charitable deduction assets on this schedule may not be required.
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 Schedule D (Form 706) edition is dated August 2025. The form directs users to www.irs.gov/Form706 for the latest information; no specific changes are noted in the source.
What changed or needs a fresh check
- Edition date — confirm the revision reads August 2025 (source: [Form p.1])
- Website — confirm you are using the latest instructions at www.irs.gov/Form706 (source: [Form p.1])
- OMB number — confirm OMB No. 1545-0015 is present (source: [Form p.1])
- Signature — Not stated in the official source — verify on the agency site
Quick Facts
Downloads
After you file
- 1Keep a complete copy of Schedule D and attached Form 712s for at least seven years.
- 2Watch for an IRS acknowledgment of the Form 706 filing.
- 3If an error is discovered, file an amended Schedule D with the corrected information.
- 4Store any attached Schedule W (Form 706) with the original filing records.
- 5Respond promptly to any IRS notices concerning reported insurance values.
Sources
- SRC[Form p.1] — revision date August 2025
- SRC[Form p.1] — latest information at www.irs.gov/Form706
- SRC[Form p.1] — OMB No. 1545-0015
- SRC[Form p.1] — attach Form 712 for each policy
- SRC[Form p.1] — attach Schedule W if more space is needed
- SRC[Form p.1] — no entries in last three columns if value not required
- SRC[Form p.2] — add amounts in column (iv) or (v) as applicable
- SRC[Form p.2] — total from Schedule W (Form 706) attached to this schedule
- SRC[Form p.2] — enter total on Form 706, Part V, item 4
- SRC[Form p.1] — portability note regarding basic exclusion amount
Common confusion points
Do I need to fill columns (iii)‑(v) if I’m not required to report the asset value?
The form says to leave the last three columns blank when reporting is not required.
→ Verify that columns (iii)‑(v) are empty for such assets.
When should I use an alternate valuation date?
Column (iii) is for an alternate valuation date, used only if you elect that valuation.
→ Confirm whether an alternate valuation election was made before entering a date.
What if I have more policies than fit on Schedule D?
The form directs you to attach Schedule W (Form 706) or additional statements.
→ Attach Schedule W and reference it on Schedule D.
Is a Form 712 required for every policy even if the policy value is $0?
The form requires a Form 712 for each policy listed.
→ Attach a Form 712 for each listed policy regardless of value.
How do I calculate line 2 total?
Line 2 is the sum of amounts entered in column (iv) or (v) for each policy.
→ Add the amounts in the appropriate column and enter the sum on line 2.
Where do I place the Schedule D total on the main return?
The form instructs to enter the total on Form 706, Part V, item 4.
→ After calculating line 4, transfer that figure to Part V, item 4 of Form 706.
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Questions about IRS Form 706-SD
What is IRS Form 706-SD used for?
Schedule D of Form 706 tells the IRS about any life‑insurance the deceased owned. It requires you to write down each policy, its value at death or on an alternate valuation date, and then total those amounts. The totals are then entered on the main Form 706. Attach any needed Form 712 or Schedule W.
What information does IRS Form 706-SD require?
The schedule collects each life‑insurance policy (item number and description), the alternate valuation date and value, and the value at the date of death, then adds the amounts (lines 2‑4) for reporting on Form 706, Part V, item 4.
How do I complete IRS Form 706-SD?
Enter every life‑insurance policy in the table, filling the description and the appropriate value column (alternate or death). Add all amounts in column (iv) or (v) on line 2. Include totals from any attached Schedule W on line 3, then sum lines 2 and 3 on line 4 and transfer that figure to Form 706 Part V, item 4. Attach a Form 712 for each policy and any additional statements as needed.
Do I need to fill columns (iii)‑(v) if I’m not required to report the asset value?
The form says to leave the last three columns blank when reporting is not required. Verify that columns (iii)‑(v) are empty for such assets.
When should I use an alternate valuation date?
Column (iii) is for an alternate valuation date, used only if you elect that valuation. Confirm whether an alternate valuation election was made before entering a date.
What if I have more policies than fit on Schedule D?
The form directs you to attach Schedule W (Form 706) or additional statements. Attach Schedule W and reference it on Schedule D.
Is a Form 712 required for every policy even if the policy value is $0?
The form requires a Form 712 for each policy listed. Attach a Form 712 for each listed policy regardless of value.
How do I calculate line 2 total?
Line 2 is the sum of amounts entered in column (iv) or (v) for each policy. Add the amounts in the appropriate column and enter the sum on line 2.
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