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  • Studio Paci

Testamentary Bequests to Trusts: Insights into the Declaration of Succession

On 28th of March, the Tax Office issued instructions regarding testamentary bequests to trusts through an FAQ published on its website.

It is worth recalling that on 20 October 2022, the

Circolare Trust n. 34 del 20 ottobre 2022
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which contains guidance on the regulations governing trusts.

The aforementioned document highlights the tax regime applicable to trusts on the basis of the most recent legislative changes and the addresses expressed by case law.

The Tax Office, in its clarification of 28 March, specifies that, in order to use the telematic procedure for the transmission of the inheritance declaration, the trust must be the sole beneficiary of the will, since it is not permissible to include in the EA framework tax codes of different heirs or legatees, in addition to that of the trustee (declarant).

In addition, in the FAQ, the Tax Office explains that the application provides that the trustee must be a natural person only, with certain exceptions:

  • if the ultimate beneficiary is not identifiable or recognisable;

  • if the ultimate beneficiary is a natural person who is not related to the deceased

  • if the ultimate beneficiary is not a natural person.

In these circumstances, it will also be permissible to indicate in line 1 of Schedule EA a trustee who is not a natural person.

It should also be noted that the application does not allow the same individual to serve simultaneously as trustee and final beneficiary.

In cases where it is not possible to submit the declaration by means of a telematic procedure, the user must contact the competent territorial office (last domicile of the deceased) to fulfil the declaration obligation by submitting Form 4.


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