Rhode Island Announces New Estate Tax Forms and Filing Thresholds

By Bruce Desrosiers, CPA, MST, Tax Partner

Prior to January 1, 2022, residents and non-residents of Rhode Island filed either RI Form 100 or Form 100A to report the value of estates at date of death and any related tax amounts that were due. The forms were also used in conjunction with requests to release automatic liens on real estate situated in RI (like a residence) or securities, such as stocks or bonds, issued by RI based business entities.

New Rhode Island Estate Form RI-706

In an advisory issued on December 24, 2021, the Rhode Island Division of Taxation announced that after January 1, 2022, RI Forms 100 and 100A would no longer be filed [RI ADV 2021-55]. Form RI-706 will replace the old forms for all Rhode Island estate tax filings. The new form RI-706 is to be used for all estates with a date of death on or after January 1, 2015.

Backdrop

Until January 1, 2022, there were two main estate tax forms: Form RI-100 (typically used for estates that are not over the applicable estate tax threshold) or Form RI-100A (typically used for estates that are over the applicable estate tax threshold). The estate tax threshold amounts were $1,595,156 in 2021 and increased to $1,648,611 for deaths occurring in 2022.

New Estate Thresholds

Effective January 1, 2022, Form RI-706 becomes the main estate tax form, essentially combining Form RI-100 and Form RI-100A into one unit. Each estate valued at more than $1.3 million must complete the entire Form RI-706. Each estate valued at below $1.3 million are only required to complete portions of pages 1 through 4 of the new form.

New Forms and Instructions

The new forms and related instructions can be located on the Rhode Island Tax Division’s website.

Contact Us

If you need assistance with these new forms or any other matter related to Rhode Island estate tax compliance and filings, please contact your tax engagement partner or:

Bruce Desrosiers, CPA, MST
Partner
bdesrosiers@pkfod.com |401.709.3040