Disclosure of Inheritance (Anzeige des Erwerbs)

Pursuant to § 30 ErbStG the beneficiaries of the estate of a deceased person are obliged to inform the German tax authorities within three month of receiving knowledge of any acquisition. If they fail to do so and as a consequence German inheritance taxes are not or not sufficiently paid, they may be prosecuted for tax fraud. German banks, insurance companies and other financial institutions inform the German tax authorities of any estate assets held by them upon receipt of notice of the death of their client. German notaries, consuls and probate courts inform the German tax authorities of all documents that may impact the taxation of the Estate.