IRS Form 712

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What Is an IRS Form 712?

IRS Form 712 is a document used for the valuation of life insurance policies and gift tax returns. The form is also known as the Life Insurance Statement.

What Is Form 712 IRS Used For?

IRS Form 712, also known as the Life Insurance Statement, is used for the valuation of life insurance policies and gift tax returns.

How To Fill Out the 712 Form IRS Online

Here is the IRS form 712 filing instructions you ought to follow:

  1. Fill out the policy information section, which includes the name of the insurance company, policy number, and type of policy.

What Should the IRS 712 Form Include

The IRS 712 pdf form template should include the following information:

  • Life Insurance Information: includes the insurance company's name, policy number, and the face amount of the policy.

When Is IRS Form 712 Needed

Nowadays the IRS form 712 required in the following situations:

  • Estate settlement: The executor of an estate may be required to report the value of the decedent's life insurance policy on Form 712 as part of the estate settlement process.
Fillable online IRS Form 712
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