Section 26.6081-1 - Automatic extension of time for filing generation-skipping transfer tax returns(a)In general. A skip person distributee required to file a return on Form 706-GS(D), "Generation-Skipping Transfer Tax Return for Distributions," or a trustee required to file a return on Form 706-GS(T), "Generation-Skipping Transfer Tax Return for Terminations," will be allowed an automatic 6-month extension of time to file the return after the date prescribed for filing if the skip person distributee or trustee files an application under this section in accordance with paragraph (b) of this section.(b)Requirements. To satisfy this paragraph (b), a skip person distributee or trustee must- (1) Submit a complete application on Form 7004, "Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns," or in any other manner prescribed by the Commissioner;(2) File the application on or before the date prescribed for filing the return with the Internal Revenue Service office designated in the application's instructions; and(3) Remit the amount of the properly estimated unpaid tax liability on or before the date prescribed for payment.(c)No extension of time for the payment of tax. An automatic extension of time for filing a return granted under paragraph (a) of this section will not extend the time for payment of any tax due on such return.(d)Termination of automatic extension. The Commissioner may terminate an automatic extension at any time by mailing to the skip person distributee or trustee a notice of termination at least 10 days prior to the termination date designated in such notice. The Commissioner must mail the notice of termination to the address shown on the Form 7004 or to the skip person distributee or trustee's last known address. For further guidance regarding the definition of last known address, see § 301.6212-2 of this chapter.(e)Penalties. See section 6651 for failure to file a generation-skipping transfer tax return or failure to pay the amount shown as tax on the return.(f)Effective/applicability dates. This section is applicable for applications for an automatic extension of time to file a generation-skipping transfer tax return filed after July 1, 2008.73 FR 37369, July 1, 2008