[ Offshore Tax ] US Estate Tax Implications for Non-resident Aliens Investing in US Treasury Bonds
Certain deceased nonresidents, who were not U.S. citizens, may be liable for U.S. estate taxation concerning their assets located in the United States. It's crucial to note that, for estate tax purposes, being a citizen of a U.S. possession does not equate to being a U.S. citizen.
Assets subject to U.S. estate tax include:
Real estate situated in the U.S.
Tangible personal property (with the exception of certain art)
Stock in corporations organized under U.S. law, even if the nonresident held the certificates abroad or registered them under a nominee's name.
On the other hand, assets treated as located outside the U.S. and thus not subject to U.S. estate tax encompass specific deposits and debt obligations as described in Section 871(g)-(i), bank accounts held at foreign branches of domestic commercial banking businesses, and proceeds from life insurance policies on nonresidents who are not U.S. citizens.
Estate tax treaties between the U.S. and other countries often offer more favorable tax treatment to nonresidents, restricting the types of assets considered as situated in the U.S. and subject to U.S. estate taxation. Executors handling the estates of nonresidents should consult these treaties when applicable.
TIMESTAMPS:
0:00 INTRO
0:43 Non-US resident buying treasury bonds in the US.
1:35 US estate tax system
2:40 Lifetime exception under 13 million dollars
3:18 Unlimited spouse transfers
4:20 OUTRO
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