An amended Form 709 is used to correct errors, omissions, or changes related to a previously filed gift tax return. The amended return replaces or supplements the original filing and updates the donor’s lifetime gift and generation-skipping transfer tax records.
When an amended Form 709 is required
An amended return is required when a previously filed Form 709 contains incorrect gift values, missing gifts, misclassified transfers, incorrect elections, or incomplete schedules. Amendments may also be necessary when additional information becomes available after filing, such as revised valuations.
How to identify an amended return
Form 709 includes a specific checkbox in Part I to indicate that the return is an amended filing. This checkbox must be marked so the Internal Revenue Service can identify the submission as a correction to a prior return rather than an original filing.
What information must be corrected
An amended Form 709 should include all relevant schedules affected by the change, not only the corrected items. This ensures that cumulative gift totals, exclusions, credits, and generation-skipping transfer tax calculations remain consistent with the revised information.
Effect on prior-period reporting
Amending a Form 709 may change amounts previously reported on Schedule B in later years. When a prior-year return is amended, subsequent Forms 709 may also need to be updated to reflect corrected cumulative gift amounts.
Payment and refund considerations
If the amendment results in additional gift or generation-skipping transfer tax due, the additional tax must be paid with the amended return. If the amendment reduces tax previously paid, the donor may be entitled to a refund subject to applicable limitation periods.
Recordkeeping after amendment
Copies of amended Forms 709 and all supporting documentation should be retained along with the original returns. Accurate records are essential for future gift tax filings and potential estate tax reporting.
This page explains how to amend or correct Form 709. For what happens after filing, see what happens after filing Form 709. For the original filing process, see how to file Form 709. For the authoritative form instructions and official requirements, refer to the IRS Form 709 official document overview.