NARA’s FRCs will no longer accept paper files after December 31, 2022, so the IRS reviewed its current policy regarding a 75-year retention period for estate tax returns and related gift tax returns. These methods ensure the proper access, preservation, and timely disposal of records according to records control schedules and federal laws. Agencies achieve these goals by storing and managing records in electronic and local storage and in NARA’s Federal Records Centers (FRC). This aligns with the Federal Records Act of 1950, which requires economical and efficient records management. It requires federal agencies to manage records electronically, to the extent possible, by January 2023. The memo outlined new goals for electronic recordkeeping to support the transition to a fully electronic government. In June 2019, the National Archives and Records Administration (NARA) and the Office of Management and Budget issued a government-wide policy memorandum titled Transition to Electronic Records. New Estate Tax Return Retention Period – Instructions to Obtain Copies For more information see Frequently Asked Questions on the Estate Tax Closing Letter. New Process for Obtaining an Estate Tax Closing Letter Effective October 28, 2021įinal regulations, User Fee for Estate Tax Closing Letter ( TD 9957 PDF), establishing a new user fee of $67 for persons requesting the issuance of IRS Letter 627, Estate Tax Closing Letter (ETCL) will be effective October 28, 2021. If your Form 706 package was returned to you, you must take specific action to ensure your package is considered timely filed. Form 706 Estate Tax Return Packages Returned