Code of Maine Rules
18 - DEPARTMENT OF ADMINISTRATIVE AND FINANCIAL SERVICES
125 - BUREAU OF REVENUE SERVICES
Chapter 601 - ESTATE TAX
Section 125-601-03 - Filing requirements

Universal Citation: 18 ME Code Rules ยง 125-601-03

Current through 2024-38, September 18, 2024

A. Forms

1. Form 706ME.

Where the sum of the federal gross estate and adjusted taxable gifts exceeds the Maine exclusion or if the estate contains Maine elective property or Maine qualified terminable interest property and where the estate includes property sourced to Maine, a personal representative must file a Maine Estate Tax return (Form 706ME) with required attachments within nine months of the decedent's date of death, unless an extension of time to file has been granted. If the estate is required to file a federal Form 706, a copy of that form, including all schedules and attachments (including Worksheet 706C) must be filed with Form 706ME. If the estate is not required to file federal Form 706, a pro forma federal Form 706 must be attached to Form 706ME and must include all of the information, schedules and attachments that would be required if a federal return was required to be filed.

2. Form 706ME-EZ.Where the estate includes property sourced to Maine and Form 706 ME is not required, the personal representative may file Form 706ME-EZ at any time after date of death. The purpose of the form, filed along with a certificate of discharge of estate tax lien, is to request the release of the automatic statutory estate tax lien on real or tangible personal property for estates with no tax liability.

3. Certificates of Discharge of Estate Tax Lien.A personal representative must file a Certificate of Discharge of Estate Tax Lien to request release of the automatic estate tax lien on Maine real property. A personal representative must file a Certificate of Discharge of Estate Tax Lien on Tangible Personal Property to request release of the automatic estate tax lien on personal property sourced to Maine.

B. Attachments.A personal representative must file attachments required by the Assessor. Required attachments may include, but are not limited to, appraisals, wills and trust documents, any estate tax, gift tax, decedent's income tax or fiduciary income tax return filed with the IRS or another state, proof of payment to another state, any document stating a request for an extension of time to file or pay, any applicable Life Insurance Statements (federal Form 712), financial statements, pension or annuity plan documents or statements, bank and brokerage statements, and a detailed list of miscellaneous property and documentation of its value.

C. Payment.Payment of all estate tax shown to be due on the return must be paid within 9 months of the decedent's date of death, unless a request for an extension of time to pay has been granted by the Assessor. See section .03(F) (2) below.

D. Amended Returns.If the estate receives or becomes entitled to additional property that was not shown on the Maine estate tax return, the personal representative must file an amended Maine estate tax return within 180 days of the receipt of such property, even if the additional property does not result in an increase in the estate's liability shown on the Maine estate tax return. If federal Form 706 has been audited by the IRS and the IRS changed any item resulting in an increase in the estate's liability shown on the Maine estate tax return, the personal representative must file an amended Maine estate tax return with a copy of the federal statement of changes packet within 180 days of the change. The personal representative must file a copy of the federal closing letter as an attachment with the amended return.

E. Record Retention.A personal representative must, for Maine estate tax purposes, retain complete records for the same period as required by the Code and regulations for estates that incur a federal estate tax, even if the estate has not incurred a federal estate tax.

F. Extensions

1. Extension to File.The Assessor may allow a reasonable extension up to eight months from the date that the Maine estate tax return would have originally been due absent any extension as long as a payment reasonably estimating the tax due has been submitted on or before the original due date. A payment of at least 90% of the Maine estate tax due must be submitted to avoid late payment penalties. If a federal extension to file has been granted, a Maine extension to file is automatically granted equal to the federal extension period. If the federal extension that was granted is less than eight months, the Assessor may allow an extension up to a total of eight months upon the written request of the personal representative stating the reason for the extension request. If a federal estate tax return is not required, the Assessor may allow a reasonable extension up to eight months from the date that the return would have originally been due absent any extension granted upon written request of the personal representative.

2. Extension to Pay.In order to receive an extension to pay, the personal representative must request an extension in writing and show that the estate has an inability to pay by the original due date. The Assessor may mandate a bond or other security. An extension of time to pay will not exceed one year from the date that the tax was originally due, but the Assessor may grant successive extensions pursuant to 36 M.R.S.§4069. Interest accrues on any amount of tax not paid by the original due date.

G. Escrow Agreements.At the request of the personal representative, the Assessor may allow an estate to establish an escrow account in favor of Maine Revenue Services in lieu of the tax bond typically required by the probate court to secure the estimated estate tax liability.

H. More than one personal representative.If an estate has more than one personal representative, a list containing the name, address, telephone number, and social security number or tax identification number for each personal representative must be attached to the return.

Disclaimer: These regulations may not be the most recent version. Maine may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.