New York Codes, Rules and Regulations
Title 20 - DEPARTMENT OF TAXATION AND FINANCE
Chapter II - Income Taxes and Estate Taxes
Subchapter G - Estate Tax
Part 360 - Tax Waivers And Certain Other Notice Requirements
Section 360.5 - Payment of death benefits under employees' pension or profit-sharing plans
Current through Register Vol. 46, No. 12, March 20, 2024
(a)
(b) Where the total amount payable to any person pursuant to the terms of any such plan or trust is dependent upon the duration of his life or any life or lives in being, the total amount payable to such person, for the purposes of this section, shall be deemed to mean the value of his right to receive payments pursuant to such plan or trust. In any such case, the notice to the State Tax Commission must contain all information necessary to compute the value of such person's interest.
(c) The following is the form of notice to be mailed to the Estate and Gift Tax Section, Audit Division, pursuant to this section:
NOTICE OF PAYMENT OF DEATH BENEFIT UNDER EMPLOYEES' PENSION OR PROFIT-SHARING PLAN ____
To: Estate and Gift Tax Section Audit Division State Campus Albany, N.Y. 12227
Notice is hereby given that the undersigned is about to make payment, pursuant to the terms of an employees' pension or profit-sharing plan, by reason of the death of the decedent named hereunder, to the persons named in the following schedule, and that the total amount to be paid to each of them (including the value of all future payments) is as set forth in said schedule.
Name of decedent.... Date of death.... Residence address .............
Name | Residence address | Relationship to decedent | Total amount payable |
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(Name of corporation or person......
making payment) .......
Dated:
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(Address) .......
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By:
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(Name and title of corporate officer)
Note: The above notice, in duplicate, must be mailed to Estate and Gift Tax Section, Audit Division, State Campus, Albany, N.Y. 12227, before payment is made. If any annuity or similar benefit is to be paid, there must be attached to this form a statement showing the age of the beneficiary, and all other facts necessary to compute the value of his interest.