What is the IRS Form 5173 Tax Clearance Certificate

Form 5173 is required when a deceased nonresident has U.S. situs assets. The executor of the person's estate must provide Form 5173 to a U.S. custodian in order for them to release the funds.
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#EstateTax #Form5173 #TaxClearance

[@axlathi]

Very happy to see a video on this topic. There's so little information out there, which is shocking considering how many people must end up needing transfer certficate in order to settle the estate of their deceased family member.

[@Barren_Wuffet]

Very helpful presentation. Although I didn't hear "bank" accounts mentioned, it sounds like the same rules that apply to brokerage accounts may apply to bank accounts, and IRAs held in bank accounts. Possibly the IRS doesn't treat one account structure differently than another, but knowing if there are account type exceptions could be useful.

[@LuisGarcia-qn3tc]

If foreign persons and residents hold an Investment account in their personal name, may they have a private document where the distribution of core is not distributed in equal parts?

[@yasmeenalashqur1534]

Hello, thanks so much for the great video! My question is are forms 5173 and 706-NA the same form or are they two separate forms that need to be filed? I am a non-resident US working on my late father's estate.

[@JasonDKnott]

They are different forms. The estate prepares a Form 706-NA and files it with the IRS. Once the IRS approves the return, they will mail the estate a Form 5173 clearance certificate.

[@juancochesa1572]

Great video! You know where can I find an example of a filled 5173 form? Thank you

[@davisgailitis]

​@JasonDKnott question, I'm a non US resident dealing with Father's Estate located in states and he was a US Citizen. No brokers just bank accounts. Estate in probate and tax clearance required. Would this be a 706-NA form to do so?

[@mohanloke]

Are you an attorney or a CPA? How do I contact you?

[@brotherpeter142]

Hi Jason, my mother, a US citizen and a French resident passed away September 13, 2022. She has a Schwab brokerage account that the French notary, that handled the succession of her estate, included in the calculation of my total inheritance. I paid inheritance tax to France on the total inheritance amount. Schwab is asking me for form 5173 before they will grant me access to my deceased mother's brokerage account that is part of my inheritance. If you can offer me advice on how to handle this I'd be happy to pay you for your time. Please let me know how to contact you. Thank you, Peter

[@ambikapraveen3009]

Hello Jason, I am looking if someone can support me in getting 5173 transfer certificate, Can you help me we can connect if you need me details