Informative Gift Tax Return
Professional support to document the transfer, organize the values, and prepare the corresponding tax filing.
A gift is the voluntary transfer of an asset during the donor's lifetime without receiving an equivalent consideration in return. It may involve money, real property, vehicles, investments, business interests, or other assets.
For gifts made on or after January 1, 2018, the Department of the Treasury uses the Informative Gift Tax Return and filing takes place electronically through SURI. Although the tax treatment changed for gifts made after December 31, 2017, the obligation to report and the procedures related to the certification of lien cancellation may still be necessary.
RTM Accounting helps organize information about the donor and the recipient, identify the assets transferred, review the reported values, and prepare the applicable return.
When might you need this service?
- When a person gratuitously transfers a property to a family member or another person.
- When money, a vehicle, investments, stock, or business interests are gifted.
- When a gift deed is formalized.
- When the value of the transferred asset must be documented.
- When an institution, notary, or the Property Registry requests tax documentation.
- When the certification related to the gift lien is needed.
- When the donor did not reside in Puerto Rico but transferred assets located in Puerto Rico.
- When a previously filed return needs to be corrected or amended.
Scope of RTM's service
- Initial interview with the donor, recipient, or authorized representative.
- Identification of the asset or right transferred.
- Organization of information on acquisition, value, and date of the gift.
- Preparation of a list of required or pending documents.
- Administrative review of deeds, appraisals, and supporting evidence.
- Preparation of the return and applicable schedules.
- Coordination of electronic filing through SURI.
- Administrative follow-up on notices related to the service.
- Preparation of amendments when applicable and engaged separately.
- Coordination with the attorney-notary or appraiser when the file requires it.
Information or documents that may be requested
Documents depend on the type of asset, the date of the transfer, the donor's residence, and the circumstances of the gift.
- 01Identification and tax number of the donor.
- 02Identification and tax number of the recipient.
- 03Address and contact information of both parties.
- 04Date of the gift.
- 05Description of the asset or right transferred.
- 06Gift deed, when applicable.
- 07Prior acquisition deed for the property.
- 08Cadastre number and available CRIM documents.
- 09Appraisal or evidence of the asset's value, when applicable.
- 10Bank statements or evidence of money transfer.
- 11Vehicle titles or titles to other assets.
- 12Corporate, partnership, or business interest documents.
- 13Information on liens or debts related to the asset.
- 14Copies of tax returns or available SURI information.
- 15Evidence of prior filings related to the gift.
- 16Communications or requirements from the Treasury.
- 17Internal Revenue stamps or fees applicable at the time of filing, when corresponding.
General process
- 01
Identifying the transfer
We confirm who delivers the asset, who receives it, what was transferred, and the effective date.
- 02
Document gathering
We organize evidence of ownership, acquisition, value, and transfer.
- 03
Administrative evaluation
We determine what information must be reflected in the return based on the documents provided.
- 04
Preparation
We complete the return and applicable schedules.
- 05
Confirmation
The client reviews and confirms the data, values, and descriptions before filing.
- 06
Filing and follow-up
We coordinate filing through SURI and handle the engaged administrative follow-up.
Frequently asked questions
Related official resources
Document the gift from the start
Tell us what asset was transferred, the date of the gift, and the documents you have available so we can begin the evaluation.