Eligible party

November 21, 2011 | In: Investing Basics

What is a declaration of succession? Who should pay the taxes on inheritance and gift tax? The heirs of the Compulsory.

The declaration is the first fulfillment of succession of heirs and dependents is of great importance in terms of inheritance tax.

Those who

The declaration is the first fulfillment of succession of heirs and dependents is of great importance in terms of inheritance tax.

in fact, receive the inheritance, they are required by the state, to pay tax whose rate is different depending on the inherited property, the heirs and other factors which explain the subject later.The same declaration of succession assumes significant importance as a document that is often required, for example by the Banks, in order to identify who are the heirs of the deceased and therefore the persons entitled to succeed to the relations belonging to the deceased.

The phase in which it is accomplished the sequence (ie the time necessary for the ends of the first reports are translocated to the heirs of the deceased) can be quite long, so only people who will try to be heirs, through the presentation of the declaration of succession, will be entitled to maintain relations with the Bank or other financial intermediaries.

The tax is due by the heirs and legatees and applies regardless of the transfer of wealth from the deceased to the heir, so that the obligation to draw up the declaration of acceptance of inheritance is independent of inheritance, provided that the called he has not waived its accession in the presentation of the declaration (one year from the death of the deceased).

The declaration must be lodged within 12 months from the date of opening of the succession (the date on which the subject is deceased) and presented:

Revenue Agency or the competent

At the district in which it was fixed the last residence of the deceased or

If this was abroad or was not known at the registry office in Rome.
However, the period of 12 months shall be otherwise provided for by the hypothesis. 31 of the TU.

They are obliged to submit the declaration of succession (Art. 28 of the Act):

Called inheritance and wills, even if the opening sequence for a declaration of presumed death, or their legalrepresentatives;

The assets placed in temporary possession of the absent;

The directors and curators of lying estates of inheritance;

The executors.

The declaration of succession must, on pain of nullity, be made on the supplied printed by the registry office or found on the website of the Inland Revenue (mod.4) and must be signed by at least one of its representative or by forced negotiation .
If more people are forced to the same declaration, it can be submitted by only one of them.

I called inheritance and wills are exempt from the compulsory registration if, before the expiry of 12 months set out in Art. 31, have renounced inheritance or linked to, or, not being in possession of an estate, called for the appointment of a liquidator under Article inheritance. 528, first paragraph, of the Civil Code, and informed the registrar’s office by registered mail, enclosing a certified copy of the declaration of renunciation of the inheritance or certified copy of the appointment of the Registrar of the Court.

Until the deadline, the declaration submitted may be modified by submitting affidavits.
Even after the deadline you can correct any mistakes in the original declaration.

There is no obligation to declare or to submit a declaration of succession when both of the following conditions occur:

1. The legacy is devolved: the spouse or relatives of the deceased in a straight line,

2. The Crown has an active value not exceeding EUR 25,822.84 and does not include real property or interests in land, except for contingent effect of these hereditary conditions are lacking.

These requirements must be made by a specific written statement from / by the beneficiaries.

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