What Is the Filing Due Date for Form 709?
The filing deadline for Form 709 is often tied to your income tax return, but not always. Discover the key dates and rules to ensure timely gift tax reporting.
Form 709, the United States Gift (and Generation-Skipping Transfer) Tax Return, is used to report gifts that exceed the annual exclusion amount to the Internal Revenue Service. This form is a mechanism for tracking gifts against an individual’s lifetime gift and estate tax exemption.
Standard Filing Deadline
The primary due date for filing Form 709 is April 15th of the year after the calendar year in which the gifts were made, which aligns with the due date for individual income tax returns, Form 1040. For example, if you made reportable gifts at any point during 2024, your Form 709 must be filed by April 15, 2025. This date is not always fixed, as it is subject to change if it lands on a day when the IRS is not open for business. Should April 15th fall on a Saturday, Sunday, or a legal holiday, the filing deadline automatically shifts to the next business day. This rule is outlined in Internal Revenue Code Section 7503.
Requesting a Filing Extension
A taxpayer can obtain more time to file Form 709, but this does not extend the deadline for paying any gift tax owed. The most common method to secure an extension is by filing for an automatic six-month extension for your individual income tax return using Form 4868, which when properly filed by the April 15th deadline will automatically extend the Form 709 due date to October 15th. For individuals who do not need an income tax extension but require one for their gift tax return, a separate form is necessary. The filer must submit Form 8892, Application for Automatic Extension of Time To File Form 709. This form must also be filed by the original April 15th deadline to secure the six-month extension.
Special Circumstances Affecting the Due Date
An exception to the standard filing calendar occurs when the person who made the gifts (the donor) passes away. If a donor dies during the same year they made taxable gifts, the filing deadline for Form 709 changes. The executor of the donor’s estate must file the final Form 709. The due date becomes the earlier of two dates: the regular due date for the donor’s estate tax return (Form 706), including any extensions, or the standard April 15th deadline.
Consequences of Late Filing
Failing to file Form 709 by its due date can lead to financial penalties, as outlined in tax code Section 6651. The IRS can assess a failure-to-file penalty, which is calculated as a percentage of the unpaid tax for each month or part of a month that the return is late. A separate failure-to-pay penalty also exists, which accrues on any unpaid gift tax liability. If no tax is actually owed, there is generally no penalty for filing late.