Schedule I (Form 706), Annuities, is the Internal Revenue Service (IRS) schedule you attach to Form 706 to report the annuities a decedent received. It collects each annuity with its description, its alternate valuation date and its includible value, then totals them for Form 706, Part V, item 9. On this page you can fill out the form online on FillingPDF and download or print the completed PDF. The form and its instructions are published by the IRS at www.irs.gov/Form706.
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What is Schedule I (Form 706)?
Schedule I (Form 706), Annuities, is the Internal Revenue Service (IRS) schedule attached to Form 706 on which you list the annuities the decedent received and total the includible amount that is carried to Form 706, Part V, item 9.
The schedule opens with the decedent's name as it appears on Form 706 and the decedent's social security number. Line 1 asks whether you are excluding from the gross estate the value of a lump-sum distribution described in section 2039(f)(2), as in effect before its repeal by the Deficit Reduction Act of 1984. Line 2 is a table where each annuity is entered with an item number, a description that shows the entire value of the annuity before any exclusions, an alternate valuation date, the includible alternate value and the includible value at date of death. Lines 3 to 5 add the columns, bring in any totals from Schedule(s) W (Form 706) or additional statements, and produce the amount for Form 706.
The form notes that, generally, no exclusion is allowed for the estates of decedents dying after December 31, 1984. It is a schedule of Form 706 and is not filed on its own. It carries OMB No. 1545-0015 and is dated August 2025.
Who needs to file Schedule I (Form 706)?
Anyone completing Form 706 for a decedent who received one or more annuities reports them on Schedule I (Form 706). The form tells you to attach it to Form 706 and to see the Instructions for Form 706 for the types of annuities and the rules that apply.
Conditions printed on the schedule:
- If you are excluding a lump-sum distribution described in section 2039(f)(2) from the gross estate, you answer Yes on line 1 and must attach Schedule W (Form 706) or additional statements with the information the instructions require.
- Generally, no exclusion is allowed for the estates of decedents dying after December 31, 1984.
- If the gross estate plus adjusted taxable gifts is less than the basic exclusion amount and Form 706 is filed solely to elect portability of the DSUE amount, consider whether you must report the value of assets eligible for the marital or charitable deduction on this schedule. If you are not required to report the value of an asset, identify the property but make no entries in the last three columns.
The form does not say who may sign for the estate; the IRS instructions for Form 706 cover that.
When to file Schedule I (Form 706)
You complete Schedule I (Form 706) when you prepare Form 706, because the form says to attach it to Form 706. It has no separate due date printed on it, so it is submitted whenever Form 706 is submitted. For any deadline that applies to Form 706, check the IRS instructions at www.irs.gov/Form706.
Have the annuity details ready before you start. If you use an alternate valuation date, column (iii) asks for it for each annuity and column (iv) asks for the includible alternate value; otherwise you enter the includible value at date of death in column (v).
Documents you need
- Form 706, to which Schedule I is attached; the schedule is not filed on its own.
- Schedule(s) W (Form 706) or additional statements, if more space is needed for annuities on line 2.
- Schedule W (Form 706) or additional statements with the information the instructions require, if you answer Yes on line 1 about excluding a section 2039(f)(2) lump-sum distribution.
How to fill out Schedule I (Form 706)
Enter the decedent's name and SSN
At the top, write the decedent's name exactly as it appears on Form 706 and the decedent's social security number.
Read the exclusion and portability notes
Check the two bullets and the Note under them: generally no exclusion is allowed for decedents dying after December 31, 1984, and in a portability-only filing you may leave the last three columns blank for assets you are not required to report.
Answer line 1
Check Yes or No for whether you are excluding a section 2039(f)(2) lump-sum distribution from the gross estate. If Yes, attach Schedule W (Form 706) or additional statements with the required information.
Number each annuity on line 2
In column (i), enter an item number for each annuity the decedent received, starting with 1. The instructions describe the types of annuities and the rules.
Describe each annuity
In column (ii), give the description and show the entire value of the annuity before any exclusions.
Enter the valuation columns
In column (iii), enter the alternate valuation date if one applies. Enter the includible alternate value in column (iv) or the includible value at date of death in column (v), as applicable.
Add the columns on line 3
Add all amounts in column (iv) or column (v), as applicable, and enter the total on line 3.
Enter totals from attachments on line 4
Enter the total from any Schedule(s) W (Form 706) or additional statements attached to this schedule.
Total the schedule on line 5
Add lines 3 and 4. Enter the amounts on Form 706, Part V, item 9.
Review and download the PDF
Check each entry against Form 706, then download or print the completed PDF from FillingPDF and attach it to Form 706.
How to submit Schedule I (Form 706)
Schedule I (Form 706) has no filing channel of its own: it is attached to Form 706 and travels with it. The schedule prints no mailing address, portal or appointment rule.
- Attach it to Form 706. Place the completed schedule with the return, together with any Schedule(s) W (Form 706) or additional statements you used for extra space or for a Yes answer on line 1.
- Carry the total. The amount on line 5 goes on Form 706, Part V, item 9.
- Follow the Form 706 instructions. Mailing addresses and any other filing channels are in the IRS instructions, available at www.irs.gov/Form706.
FillingPDF lets you fill out and download the PDF; submission follows the IRS channels that apply to Form 706.
Common mistakes to avoid
- Submitting Schedule I (Form 706) without attaching it to Form 706; the form says to attach it.
- Answering Yes on line 1 without attaching Schedule W (Form 706) or additional statements with the information the instructions require.
- Assuming an exclusion applies to a decedent who died after December 31, 1984; the form says generally no exclusion is allowed for those estates.
- Entering only the includible portion in column (ii); the description must show the entire value of the annuity before any exclusions.
- Making entries in the last three columns for an asset you are not required to report in a portability-only filing; the form says to identify the property and leave them blank.
- Adding the wrong column on line 3; add column (iv) or column (v), as applicable.
- Running out of room on line 2 and squeezing in extra annuities instead of attaching Schedule(s) W (Form 706) or additional statements.
- Not carrying the line 5 total to Form 706, Part V, item 9.
Frequently asked questions
What is Schedule I (Form 706)?
Schedule I (Form 706), Annuities, is the IRS schedule you attach to Form 706 to list the annuities a decedent received and total their includible value. The line 5 total is entered on Form 706, Part V, item 9.
Is Schedule I (Form 706) filed on its own?
No. The form says to attach it to Form 706, so it is submitted with that return. It has no separate address or due date printed on it; the IRS instructions for Form 706 cover filing.
What goes in column (ii) of line 2?
The item description. The form says to show the entire value of the annuity before any exclusions. The includible amounts then go in the valuation columns: column (iv) for the alternate valuation date value or column (v) for the value at date of death.
What do I do if I answer Yes on line 1?
Attach Schedule W (Form 706) or additional statements with the information the instructions require. Line 1 asks whether you are excluding a section 2039(f)(2) lump-sum distribution, as in effect before its repeal by the Deficit Reduction Act of 1984.
Can I exclude an annuity for a decedent who died after 1984?
Generally no. The form states that no exclusion is allowed for the estates of decedents dying after December 31, 1984. The IRS instructions for Form 706 explain the rules and types of annuities.
What if I need more space for annuities?
Attach Schedule(s) W (Form 706) or additional statements. Enter their total on line 4 so it is added to line 3 on line 5.
Do I fill in every column if Form 706 is only to elect portability?
Not necessarily. If the gross estate plus adjusted taxable gifts is below the basic exclusion amount and Form 706 is filed solely to elect DSUE portability, you may not be required to report assets eligible for the marital or charitable deduction. Identify the property and leave the last three columns blank.
Can I fill out Schedule I (Form 706) online?
Yes. You can fill out the PDF online on FillingPDF and download or print it. FillingPDF is an independent service and does not file anything with the IRS; the schedule goes in with Form 706 through IRS channels.
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