①If the property acquired through inheritance or bequest (including a gift that takes effect upon the death of the donor; hereinafter the same applies up to Article 70-8-2) includes property that was located outside the area where the Inheritance Tax Act is in force on August 15, 1945, or other property specified by Order of the Ministry of Finance (referred to as "overseas property, etc." in this Article and the following Article), the value of that overseas property, etc. (excluding that whose value can be calculated, as provided by Order of the Ministry of Finance, by the due date for filing the return under the provisions of Article 27 of that Act pertaining to that inheritance) is not included in the basis for calculating the taxable value for inheritance tax pertaining to that inheritance or bequest.

②If the obligations of the decedent succeeded to through inheritance or universal legacy include obligations specified by Order of the Ministry of Finance that are to be performed outside the area where the Inheritance Tax Act is in force and that existed on August 15, 1945, the amount of those obligations is not included in the amount of debt deduction under the provisions of Article 13 of that Act in calculating the taxable value for inheritance tax pertaining to that inheritance.

③The provisions of paragraph (1) do not apply if the return under the provisions of Article 27 of the Inheritance Tax Act pertaining to that inheritance of the person seeking the application of the provisions of that paragraph does not contain a statement to the effect that the person seeks the application of the provisions of that paragraph and of the matters concerning the details of the overseas property, etc.

①A person who has filed a return pertaining to the inheritance or bequest prescribed in paragraph (1) of the preceding Article upon receiving the application of the provisions of that paragraph (including that person's heirs and universal legatees) must, if it has become possible to calculate the value of the overseas property, etc. to which the provisions of that paragraph were applied as provided by the Order of the Ministry of Finance prescribed in that paragraph, file an amended return within four months from the day following the day on which it became possible to calculate it, and pay the amount of tax to be paid as a result of filing that amended return within that time limit.

②If a person who has received the application of the provisions of paragraph (1) of the preceding Article comes to be required to file a return under the provisions of Article 27 of the Inheritance Tax Act as a result of calculating the value of the property to which the provisions of that paragraph were applied, as provided by the Order of the Ministry of Finance prescribed in that paragraph, and including it in the taxable value for inheritance tax, the person must file a return filed after the due date within four months from the day following the day on which it became possible to calculate it, and pay the amount of tax to be paid as a result of filing that return filed after the due date within that time limit.

③If a person who is required to file a return under the provisions of the preceding two paragraphs fails to file that return, the district director is to make a reassessment under the provisions of Article 24 or 26 of the Act on General Rules for National Taxes or a determination under the provisions of Article 25 of that Act with respect to the taxable value, the amount of inheritance tax and other matters that should have been stated in that return.

④With regard to the application of the provisions of the Act on General Rules for National Taxes to an amended return under the provisions of paragraph (1) and a reassessment referred to in the preceding paragraph (limited to one pertaining to a person who is required to file that return), the following applies:

⑤With regard to the application of the provisions of the Act on General Rules for National Taxes to a return filed after the due date under the provisions of paragraph (2) and a reassessment (limited to one pertaining to a person who is required to file that return) or determination referred to in paragraph (3), the following applies:

①If the property acquired by an individual through inheritance or bequest includes, out of the residential land, etc. (meaning land or rights existing on land; the same applies in paragraph (3) and paragraph (5) of the following Article) that, immediately before the commencement of the succession, was used for the business (including that specified by Cabinet Order as being equivalent to a business; the same applies in paragraph (3)) of, or as the residence (including, where the land, etc. was not used as the residence of the decedent immediately before the commencement of the succession due to a reason specified by Cabinet Order as a reason that makes it impossible to use it as a residence (excluding where it is used for a purpose specified by Cabinet Order), the use as the residence of the decedent immediately before it ceased to be used as a residence due to that reason; the same applies in paragraph (3), item (ii)) of, the decedent pertaining to that inheritance or bequest or a relative of that decedent who shared the same livelihood with that decedent (referred to as a "decedent, etc." in paragraph (3)), and that is used as the site of a building or structure specified by Order of the Ministry of Finance, residential land, etc. specified by Cabinet Order (limited to residential land, etc. for specified business use, residential land, etc. for specified residential use, residential land, etc. for business use of a specified family company and residential land, etc. used for a leasing business; hereinafter referred to as "special eligible residential land, etc." in this Article), then, with regard to the special eligible residential land, etc. acquired by that individual, or a portion thereof, that has been selected, as provided by Cabinet Order, as land to which the provisions of this paragraph are to be applied, out of all the special eligible residential land, etc. pertaining to the persons who acquired property through that inheritance or bequest (hereinafter referred to as "selected residential land, etc. eligible for the special provisions" in this paragraph and the following paragraph), the value to be included in the taxable value for inheritance tax prescribed in Article 11-2 of the Inheritance Tax Act is, limited to that selected residential land, etc. eligible for the special provisions in the case where the area limit requirement is satisfied (referred to as "small-scale residential land, etc." in this paragraph), the amount calculated by multiplying the value of that small-scale residential land, etc. by the percentage specified in each of the following items according to the category of small-scale residential land, etc. listed in each of those items:

②The area limit requirement prescribed in the preceding paragraph is the requirement specified in each of the following items according to the category of selected residential land, etc. eligible for the special provisions listed in each of those items pertaining to the persons who acquired special eligible residential land, etc. through that inheritance or bequest:

③In this Article, the meanings of the terms listed in the following items are as prescribed respectively in those items:

④The provisions of paragraph (1) do not apply to special eligible residential land, etc. that has not been divided by the co-heirs or universal legatees by the due date for filing the return under Article 27 of the Inheritance Tax Act relating to the inheritance or bequest referred to in that paragraph (referred to as the "return due date" in this paragraph); provided, however, that this does not apply to the divided special eligible residential land, etc. in the case where the undivided special eligible residential land, etc. is divided within three years from the return due date (or, in the case where there are unavoidable circumstances specified by Cabinet Order, such as the filing of an action concerning the inheritance or bequest, for the special eligible residential land, etc. not having been divided before the expiration of that period, and the approval of the district director with jurisdiction over the place for tax payment has been obtained pursuant to the provisions of Cabinet Order, within four months from the day following the day specified by Cabinet Order as the day on which the division of the special eligible residential land, etc. became possible) (excluding the case where a person who has acquired property by the inheritance or bequest is subject to the provisions of paragraph (1) of the following Article).

⑤The provisions of Article 32, paragraph (1) of the Inheritance Tax Act apply mutatis mutandis to the case referred to in the proviso to the preceding paragraph and other cases specified by Cabinet Order as cases where the provisions of paragraph (1) have not been applied to the special eligible residential land, etc. that has already been divided. In this case, the necessary technical replacement of terms is specified by Cabinet Order.

⑥The provisions of paragraph (1) do not apply to residential land, etc. for specified business use that has been acquired by inheritance or bequest (including acquisition in the case where it is deemed to have been acquired by inheritance or bequest pursuant to the provisions of Article 70-6-9, paragraph (1) (including as applied by replacing terms pursuant to the provisions of paragraph (2) of that Article)) from the donor prescribed in Article 70-6-8, paragraph (1) relating to a special business donee prescribed in paragraph (2), item (ii) of that Article to whom the provisions of paragraph (1) of that Article have been applied, or to residential land, etc. for specified business use that has been acquired by inheritance or bequest from the decedent prescribed in Article 70-6-10, paragraph (1) relating to a special business heir, etc. prescribed in paragraph (2), item (ii) of that Article to whom the provisions of paragraph (1) of that Article apply.

⑦The provisions of paragraph (1) apply only if a person seeking the application of the provisions of that paragraph states in the return under Article 27 or Article 29 of the Inheritance Tax Act relating to the inheritance or bequest (including a return filed after the due date relating to those returns and an amended return relating to those returns; referred to as an "inheritance tax return" in the following paragraph) that the person seeks the application of the provisions of paragraph (1), and attaches to it a written statement concerning the calculation under the provisions of that paragraph and other documents specified by Order of the Ministry of Finance.

⑧Even in the case where no inheritance tax return has been filed, or where an inheritance tax return without the statement or attachment referred to in the preceding paragraph has been filed, if the district director finds that there were unavoidable circumstances for the failure to file, or to make the statement or attachment, the district director may apply the provisions of paragraph (1), but only in the case where there has been a submission of a document containing that statement and of the documents specified by Order of the Ministry of Finance referred to in that paragraph.

⑨With regard to the application of the provisions of Article 41, paragraph (2) of the Inheritance Tax Act as applied mutatis mutandis pursuant to Article 48-2, paragraph (6) of that Act in the case where the provisions of paragraph (1) are applied to small-scale residential land, etc. prescribed in that paragraph, the phrase "excluding property" in that paragraph is deemed to be replaced with "excluding property and small-scale residential land, etc. prescribed in Article 69-4, paragraph (1) of the Act on Special Measures Concerning Taxation (Act No. 26 of 1957) (Special Provisions on Calculation of Taxable Value for Inheritance Tax on Small-Scale Residential Land, etc.) to which the provisions of that paragraph have been applied".

⑩Beyond what is provided for in paragraph (4) through the preceding paragraph, necessary matters concerning the application of paragraph (1) are specified by Cabinet Order.

①In the case where an heir, etc. of specified planned forest has continued to hold all of the specified planned forest that the heir, etc. of specified planned forest acquired by inheritance or bequest (including a gift relating to property acquired by gift (excluding a gift that takes effect upon the death of the donor; the same applies hereinafter through Article 70-7-9) from the decedent relating to that inheritance which is subject to the provisions of Article 21-9, paragraph (3) of the Inheritance Tax Act (including as applied mutatis mutandis pursuant to Article 70-2-6, paragraph (1), Article 70-2-7, paragraph (1) (including as applied mutatis mutandis pursuant to Article 70-2-8) or Article 70-3, paragraph (1); the same applies in item (ii) of the following paragraph); the same applies hereinafter in this paragraph) and has selected, pursuant to the provisions of Cabinet Order, as that to which the provisions of this paragraph are to apply (referred to as "selected specified planned forest" in this paragraph and the following paragraph), from the time of the commencement of the succession until the due date for filing the return under Article 27, Article 29 or Article 31, paragraph (2) of that Act relating to the inheritance or bequest (or, in the case where the heir, etc. of specified planned forest dies before that due date, the date of death; referred to as the "return due date" in the following paragraph), or in any other case specified by Cabinet Order as equivalent thereto, the value to be included in the taxable value for inheritance tax prescribed in Article 11-2 of that Act (or, in the case where the provisions of Article 21-15, paragraph (1) of that Act apply, the taxable value for inheritance tax under the provisions of that paragraph) is the amount calculated by multiplying the value of the selected specified planned forest (or, in the case where the selected specified planned forest has been acquired by a gift subject to the provisions of Article 21-9, paragraph (3) of that Act, the balance remaining after deducting from that value the amount of the deduction under the provisions of Article 21-11-2, paragraph (1) of that Act (including the provisions of Article 70-3-2, paragraph (1))) by 95 percent.

②In this Article, the meanings of the terms listed in the following items are as prescribed respectively in those items:

③The provisions of paragraph (1) do not apply to specified planned forest that has not been divided by the co-heirs or universal legatees by the due date for filing the return under Article 27 of the Inheritance Tax Act relating to the inheritance or bequest referred to in that paragraph (referred to as the "return due date" in this paragraph); provided, however, that this does not apply to the divided specified planned forest in the case where the undivided specified planned forest is divided within three years from the return due date (or, in the case where there are unavoidable circumstances specified by Cabinet Order, such as the filing of an action concerning the inheritance or bequest, for the specified planned forest not having been divided before the expiration of that period, and the approval of the district director with jurisdiction over the place for tax payment has been obtained pursuant to the provisions of Cabinet Order, within four months from the day following the day specified by Cabinet Order as the day on which the division of the specified planned forest became possible).

④The provisions of paragraph (1) do not apply in the case where a person who has acquired property by the inheritance or bequest referred to in that paragraph from the decedent relating to the inheritance referred to in that paragraph is to be, or is, subject to the provisions of paragraph (1) of the preceding Article.

⑤In the case where the area of the selected residential land, etc. (meaning the total of the areas calculated pursuant to the provisions of paragraph (2), item (iii), (a) through (c) of the preceding Article for the area of the residential land, etc. selected as small-scale residential land, etc. prescribed in paragraph (1) of that Article pursuant to the provisions of that Article; the same applies in item (ii)) is less than 200 square meters, if a person who has acquired property by the inheritance or bequest referred to in paragraph (1) selects specified forest under a forest management plan (including specified donated forest under a forest management plan; the same applies in item (i)) as selected specified planned forest prescribed in that paragraph, the person may, notwithstanding the provisions of the preceding paragraph, receive the application of the provisions of paragraph (1) for the portion up to the value obtained by multiplying the amount listed in item (i) by the ratio listed in item (ii):

⑥The provisions of Article 32, paragraph (1) of the Inheritance Tax Act apply mutatis mutandis to the case referred to in the proviso to paragraph (3) and other cases specified by Cabinet Order as cases where the provisions of paragraph (1) have not been applied to the specified planned forest that has already been divided. In this case, the necessary technical replacement of terms is specified by Cabinet Order.

⑦The provisions of paragraph (1) apply only if a person seeking the application of the provisions of that paragraph states in the return under Article 27 or Article 29 of the Inheritance Tax Act relating to the inheritance or bequest (including a return filed after the due date relating to those returns and an amended return relating to those returns; referred to as an "inheritance tax return" in paragraphs (10) and (11)) that the person seeks the application of the provisions of paragraph (1), and attaches to it a written statement concerning the calculation under the provisions of that paragraph and other documents specified by Order of the Ministry of Finance.

⑧An heir, etc. of specified planned forest who seeks the application of the provisions of paragraph (1) with regard to specified donated forest under a forest management plan acquired by gift from a specified donor must, pursuant to the provisions of Cabinet Order, submit to the district director with jurisdiction over the place for tax payment, within the period referred to in Article 28, paragraph (1) of the Inheritance Tax Act, a document stating that the provisions of paragraph (1) are to be applied and other matters specified by Order of the Ministry of Finance, and other documents specified by Order of the Ministry of Finance.

⑨In the case referred to in the preceding paragraph, if the document referred to in that paragraph relating to the specified donated forest under a forest management plan referred to in that paragraph has not been submitted to the district director with jurisdiction over the place for tax payment within the period referred to in that paragraph, the application of the provisions of paragraph (1) may not be received with regard to that specified donated forest under a forest management plan.

⑩Notwithstanding the provisions of paragraph (7), the provisions of paragraph (1) do not apply in the case where, within two months from the due date for filing the inheritance tax return of the person seeking the application of the provisions of paragraph (1) with regard to specified forest under a forest management plan or specified donated forest under a forest management plan, there is no submission of the documents specified by Order of the Ministry of Finance certifying that forest operations have been carried out based on the forest management plan prescribed in paragraph (2), item (iii), (a), (2) or (b), (2) and other matters.

⑪Even in the case where an inheritance tax return or the documents specified by Order of the Ministry of Finance referred to in the preceding paragraph have not been submitted, or where an inheritance tax return without the statement or attachment referred to in paragraph (7) has been submitted, if the district director finds that there were unavoidable circumstances for the failure to submit, or to make the statement or attachment, the district director may apply the provisions of paragraph (1), but only in the case where there has been a submission of a document containing that statement and of the documents specified by Order of the Ministry of Finance referred to in that paragraph and the preceding paragraph.

⑫With regard to the application of the provisions of Article 41, paragraph (2) of the Inheritance Tax Act as applied mutatis mutandis pursuant to Article 48-2, paragraph (6) of that Act in the case where the provisions of paragraph (1) are applied to selected specified planned forest prescribed in that paragraph, the phrase "excluding property" in that paragraph is deemed to be replaced with "excluding property and selected specified planned forest prescribed in Article 69-5, paragraph (1) of the Act on Special Measures Concerning Taxation (Special Provisions on Calculation of Taxable Value for Inheritance Tax on Specified Planned Forest) to which the provisions of that paragraph have been applied".

⑬Beyond what is provided for in paragraph (3) through the preceding paragraph, necessary matters concerning the application of paragraph (1) are specified by Cabinet Order.

①In the case where there is a person who has acquired property by inheritance or bequest (including a gift relating to property acquired by gift from the decedent relating to that inheritance which is subject to the provisions of Article 21-9, paragraph (3) of the Inheritance Tax Act (including as applied mutatis mutandis pursuant to Article 70-2-6, paragraph (1), Article 70-2-7, paragraph (1) (including as applied mutatis mutandis pursuant to Article 70-2-8) or Article 70-3, paragraph (1); the same applies hereinafter in this paragraph); the same applies hereinafter in this Article and in Article 69-8) before the specified extraordinary Disaster occurrence date referred to in Article 2, paragraph (1) of the Act on Special Measures concerning Preservation of Rights and Interests of Victims of Specified Disaster relating to a specified extraordinary Disaster (meaning an extraordinary disaster designated as a specified extraordinary Disaster pursuant to the provisions of Article 2, paragraph (1) of that Act; the same applies in paragraph (1) of the following Article) (referred to as the "specified extraordinary Disaster occurrence date" hereinafter through Article 69-8), and the due date for filing the return to be filed pursuant to the provisions of Article 27, paragraph (1) of the Inheritance Tax Act relating to that inheritance or bequest falls on or after that specified extraordinary Disaster occurrence date, if, among the property that the person acquired by that inheritance or bequest or the property that the person acquired by gift (limited to property acquired during the period from January 1 of the year that includes that specified extraordinary Disaster occurrence date (or, in the case where that specified extraordinary Disaster occurrence date falls within the period from January 1 until the due date for filing the return to be filed pursuant to the provisions of Article 28, paragraph (1) of that Act, the preceding year; the same applies in paragraph (1) of the following Article and in Article 69-8, paragraph (3)) until the day before that specified extraordinary Disaster occurrence date which is subject to the provisions of Article 19 or Article 21-9, paragraph (3) of that Act) and which the person owned on that specified extraordinary Disaster occurrence date, there is land or rights existing on land (referred to as "specified land, etc." in this paragraph, the following paragraph and paragraph (1) of the following Article) located within an area to which the provisions of Article 3, paragraph (1) of the Act on Support for Reconstructing Livelihoods of Disaster Victims apply due to that specified extraordinary Disaster (or, in the case where the provisions of that paragraph do not apply, an area designated by the Minister of Finance as an area that has suffered considerable damage due to that specified extraordinary Disaster; referred to as a "specified area" in this paragraph and paragraph (4)), or shares or capital contributions of a corporation specified by Cabinet Order as a corporation with a high ratio of assets held within a specified area (excluding shares listed on a financial instruments exchange prescribed in Article 2, paragraph (16) of the Financial Instruments and Exchange Act and others specified by Cabinet Order as similar thereto; referred to as "specified shares, etc." in this paragraph, the following paragraph and paragraph (1) of the following Article), then, with regard to that specified land, etc. or those specified shares, etc., the value to be included in the taxable value for inheritance tax prescribed in Article 11-2 of the Inheritance Tax Act or the value of the property acquired by gift that is added to that taxable value for inheritance tax pursuant to the provisions of Article 19 or Article 21-15 of that Act may, notwithstanding the provisions of Article 22 of that Act, be the amount specified by Cabinet Order as the value immediately after the occurrence of that specified extraordinary Disaster.

②The provisions of the preceding paragraph apply mutatis mutandis in the case where, before the specified extraordinary Disaster occurrence date, there is a person who has been granted all or part of the inherited property prescribed in Article 958-2, paragraph (1) of the Civil Code pursuant to the provisions of that paragraph, and the due date for filing the return to be filed pursuant to the provisions of Article 29, paragraph (1) or Article 31, paragraph (2) of the Inheritance Tax Act relating to the bequest of all or part of that inherited property falls on or after that specified extraordinary Disaster occurrence date, if, among all or part of that inherited property that the person owned on that specified extraordinary Disaster occurrence date, there is specified land, etc. or specified shares, etc.

③The provisions of the preceding two paragraphs apply only in the case where the return prescribed in those provisions (including a return filed after the due date and an amended return relating to those returns) or the written request for reassessment prescribed in Article 23, paragraph (3) of the Act on General Rules for National Taxes contains a statement to the effect that the person seeks the application of those provisions; provided, however, that this does not apply if the district director finds that there were unavoidable circumstances for the absence of that statement.

④When the Minister of Finance has designated a specified area pursuant to the provisions of paragraph (1), the Minister of Finance is to give public notice of it.

①In the case where there is specified land, etc. or specified shares, etc. among the property that an individual has acquired by gift during the period from January 1 of the year that includes the specified extraordinary Disaster occurrence date until the day before that specified extraordinary Disaster occurrence date and that the individual owned on that specified extraordinary Disaster occurrence date, the value to be included in the taxable value for gift tax prescribed in Article 21-2 or Article 21-10 of the Inheritance Tax Act with regard to that specified land, etc. or those specified shares, etc. may, notwithstanding the provisions of Article 22 of that Act, be the amount specified by Cabinet Order as the value immediately after the occurrence of the specified extraordinary Disaster relating to that specified extraordinary Disaster occurrence date.

②The provisions of paragraph (3) of the preceding Article apply mutatis mutandis in the case where a person seeks the application of the provisions of the preceding paragraph. In this case, the phrase "the return prescribed in those provisions (including a return filed after the due date and an amended return relating to those returns" in paragraph (3) of that Article is deemed to be replaced with "the return under the provisions of Article 28 of the Inheritance Tax Act (including a return filed after the due date and an amended return relating to that return", and the phrase "application of those provisions" with "application of the provisions of paragraph (1) of the following Article".

①In the case where, among all persons who have acquired property by inheritance or bequest from the same decedent, there is a person who may receive the application of the provisions of Article 69-6, paragraph (1), if the due date for filing the return to be filed pursuant to the provisions of Article 27, paragraph (1) or (2) of the Inheritance Tax Act by a person who has acquired property by that inheritance or bequest or by that person's heir (including a universal legatee; the same applies in the following paragraph and paragraph (4)) falls on or before the day preceding the specified day (meaning the deadline for filing a return extended pursuant to the provisions of Article 11 of the Act on General Rules for National Taxes in relation to the specified extraordinary Disaster referred to in Article 69-6, paragraph (1), or the day on which 10 months have elapsed from the day following the specified extraordinary Disaster occurrence date, whichever is later; the same applies hereinafter in this Article), the due date for filing that return is the specified day.

②In the case where, among all persons who have acquired property by bequest from the same decedent, there is a person who may receive the application of the provisions of Article 69-6, paragraph (2), if the due date for filing the return to be filed pursuant to the provisions of Article 29, paragraph (1) of the Inheritance Tax Act, the provisions of Article 27, paragraph (2) of that Act as applied mutatis mutandis pursuant to Article 29, paragraph (2) of that Act, or the provisions of Article 31, paragraph (2) of that Act by a person who has acquired property by that bequest or by that person's heir falls on or before the day preceding the specified day, the due date for filing that return is the specified day.

③In the case where the due date for filing the return to be filed pursuant to the provisions of Article 28, paragraph (1) of the Inheritance Tax Act by an individual who has acquired property by gift during the period from January 1 to December 31 of the year that includes the specified extraordinary Disaster occurrence date and who may receive the application of the provisions of paragraph (1) of the preceding Article falls on or before the day preceding the specified day, the due date for filing that return is the specified day.

④In the case where the due date for filing the return to be filed pursuant to the provisions of Article 27, paragraph (2) of the Inheritance Tax Act as applied mutatis mutandis pursuant to Article 28, paragraph (2) of that Act by the heir of a person prescribed in the preceding paragraph falls on or before the day preceding the specified day, the due date for filing that return is the specified day.

①In the case where a person who has acquired property by inheritance or bequest has given all or part of that property by gift, by the due date for filing the return under Article 27, paragraph (1) or Article 29, paragraph (1) of the Inheritance Tax Act relating to that inheritance or bequest (or, for property acquired due to the occurrence of a reason prescribed in Article 4, paragraph (1) or (2) of that Act after the filing of those returns, the return under Article 31, paragraph (2) of that Act relating to that acquisition), to the State or a local government, or to a corporation, from among incorporated public interest associations, incorporated public interest foundations and other corporations conducting business for public interest purposes, that is specified by Cabinet Order as one that contributes significantly to the promotion of education or science, the improvement of culture, contribution to social welfare or other enhancement of the public interest, the value of the property so given by gift is not included in the basis for calculating the taxable value for inheritance tax relating to that inheritance or bequest, except in the case where it is found that the gift would result in an unjust reduction of the burden of inheritance tax or gift tax on the person who made the gift, that person's relatives or other persons having a special relationship with those persons as prescribed in Article 64, paragraph (1) of that Act.

②In the case where a corporation specified by Cabinet Order prescribed in the preceding paragraph that has received the gift referred to in that paragraph ceases to fall under the category of corporation specified by Cabinet Order prescribed in that paragraph by the day on which two years have elapsed from the date of the gift, or in the case where it does not use the property acquired by the gift for its business for public interest purposes by that day or ceases to so use it, the value of that property is, notwithstanding the provisions of that paragraph, included in the basis for calculating the taxable value for inheritance tax relating to the inheritance or bequest referred to in that paragraph.

③In the case where a person who has acquired property by inheritance or bequest has expended all or part of that property, by the due date for filing the return prescribed in paragraph (1), in order to make it trust property of a public interest trust prescribed in Article 2, paragraph (1), item (i) of the Act on Public Interest Trusts (referred to as a "public interest trust" in the following paragraph), the value of the property so expended is not included in the basis for calculating the taxable value for inheritance tax relating to that inheritance or bequest, except in the case where it is found that the expenditure would result in an unjust reduction of the burden of inheritance tax or gift tax on the person who made the expenditure, that person's relatives or other persons having a special relationship with those persons as prescribed in Article 64, paragraph (1) of the Inheritance Tax Act.

④In the case where a public interest trust that has accepted the property referred to in the preceding paragraph terminates (excluding termination by a merger of trusts) by the day on which two years have elapsed from the date of the acceptance, or in the case where the trustee of that public interest trust does not use that property for its public interest trust affairs (meaning public interest trust affairs prescribed in Article 7, paragraph (3), item (iv) of the Act on Public Interest Trusts) by that day or ceases to so use it, the value of that property is, notwithstanding the provisions of the preceding paragraph, included in the basis for calculating the taxable value for inheritance tax relating to the inheritance or bequest referred to in that paragraph.

⑤The provisions of paragraph (1) or (3) do not apply unless a person seeking the application of those provisions states, in the return prescribed in paragraph (1) relating to the inheritance or bequest referred to in those provisions, that the person seeks the application of those provisions, and attaches to it a written statement of the property given by the gift referred to in that paragraph or expended by the expenditure referred to in paragraph (3) and other documents specified by Order of the Ministry of Finance.

⑥A person who has filed a return relating to the inheritance or bequest prescribed in paragraph (1) or (3) with the application of those provisions (including that person's heirs and universal legatees) must, in the case where a reason prescribed in paragraph (2) or (4) has arisen with regard to property to which those provisions were applied, file an amended return within four months from the day following the day on which two years have elapsed as prescribed in those provisions, and pay, within that time limit, the amount of tax payable upon the filing of that amended return.

⑦In the case where a person to whom the provisions of paragraph (1) or (3) have been applied is required to file a return under Article 27 or Article 29 of the Inheritance Tax Act because the value of property to which those provisions were applied has come to be included in the taxable value for inheritance tax as a result of the occurrence of a reason prescribed in paragraph (2) or (4) with regard to that property, the person must file a return filed after the due date within four months from the day following the day on which two years have elapsed as prescribed in paragraph (2) or (4), and pay, within that time limit, the amount of tax payable upon the filing of that return filed after the due date.

⑧In the case where a person required to file a return pursuant to the provisions of the preceding two paragraphs has not filed that return, the district director is to make a reassessment under the provisions of Article 24 or Article 26 of the Act on General Rules for National Taxes or a determination under the provisions of Article 25 of that Act with regard to the taxable value, the amount of inheritance tax and other matters that should have been stated in that return.

⑨The provisions of Article 69-3, paragraph (4) apply mutatis mutandis to an amended return under the provisions of paragraph (6) and a reassessment referred to in the preceding paragraph (limited to one relating to a person required to file that return), and the provisions of paragraph (5) of that Article apply mutatis mutandis to a return filed after the due date under the provisions of paragraph (7) and a reassessment (limited to one relating to a person required to file that return) or determination referred to in the preceding paragraph, respectively. In this case, the phrase "Article 69-3, paragraph (1)" in paragraph (4), item (ii) of that Article is deemed to be replaced with "Article 70, paragraph (6)", the phrase "Article 27" with "Article 27 or Article 29", and the phrase "Article 69-3, paragraph (2)" in paragraph (5), item (ii) of that Article with "Article 70, paragraph (7)".

⑩The provisions of paragraphs (1), (2) and (5) through the preceding paragraph apply mutatis mutandis in the case where a person who has acquired property by inheritance or bequest has given all or part of that property by gift, by the due date for filing the return prescribed in paragraph (1), to a certified specified nonprofit corporation prescribed in Article 2, paragraph (3) of the Act on Promotion of Specified Non-profit Activities, in connection with a business relating to specified non-profit activities prescribed in paragraph (1) of that Article conducted by that certified specified nonprofit corporation. In this case, the phrase "the provisions of that paragraph" in paragraph (2) is deemed to be replaced with "the provisions of the preceding paragraph as applied mutatis mutandis pursuant to paragraph (10)", the phrase "paragraph (1) or (3)" in paragraph (5) with "paragraph (1) as applied mutatis mutandis pursuant to paragraph (10)", and the phrase "given by the gift referred to in that paragraph or expended by the expenditure referred to in paragraph (3)" with "given by the gift referred to in paragraph (10)".

①In the case where a specified donee who has acquired funds for housing acquisition, etc. by gift from a lineal ascendant of the specified donee during the period from January 1, 2024 to December 31, 2026 (referred to as the "application period" in paragraphs (9), (11) and (12)) falls under any of the following cases, out of the funds for housing acquisition, etc. acquired by that gift, the amount up to the tax-exempt limit for housing funds (or, in the case where there is an amount that has already not been included in the taxable value for gift tax by the application of the provisions of this paragraph, the balance remaining after deducting the amount not so included) is not included in the taxable value for gift tax:

②In this Article, the meanings of the terms listed in the following items are as prescribed respectively in those items:

③With regard to the application of the provisions of Article 19, paragraph (1) and Article 21-15, paragraph (1) of the Inheritance Tax Act in the case where a specified donee has received the application of the provisions of paragraph (1), the phrase "pursuant to the provisions" in those provisions is deemed to be replaced with "pursuant to the provisions and the provisions of Article 70-2 of the Act on Special Measures Concerning Taxation (Tax Exemption for Gift Tax Where a Gift of Funds for Housing Acquisition, etc. Is Received from a Lineal Ascendant)".

④In the case where a specified donee who has received the application of the provisions of paragraph (1) with regard to funds for housing acquisition, etc. falls under a case listed in any of the following items after March 15 of the year following the year that includes the day on which the specified donee received the gift of those funds for housing acquisition, etc., the provisions of that paragraph do not apply. In this case, the specified donee must, within two months from the day on which the specified donee came to fall under the case listed in the relevant item, file an amended return for gift tax for the year for which the specified donee received the application of the provisions of that paragraph, and pay, within that time limit, the amount of tax payable upon the filing of that amended return:

⑤In the case where a specified donee has come to fall under the provisions of the preceding paragraph, if no amended return under the provisions of that paragraph has been filed, the district director with jurisdiction over the place for tax payment is to make a reassessment under the provisions of Article 24 or Article 26 of the Act on General Rules for National Taxes with regard to the amount of gift tax and other matters that should have been stated in that amended return.

⑥The application of the provisions of the Act on General Rules for National Taxes and Article 37 of the Inheritance Tax Act to an amended return under the provisions of paragraph (4) and a reassessment referred to in the preceding paragraph is as follows:

⑦In the case where a specified donee who has acquired funds for housing acquisition, etc. by gift from a lineal ascendant has, by March 15 of the year following the year that includes the day on which the specified donee acquired the funds for housing acquisition, etc. by that gift (referred to as the "acquisition deadline" in this paragraph), appropriated the entire amount of those funds for housing acquisition, etc. to the consideration for the acquisition of a dwelling house that has been used since its construction (limited to one other than one that conforms to the earthquake resistance standards) and that is specified by Cabinet Order (referred to as a "residential building requiring seismic retrofitting" in this paragraph), and has acquired that residential building requiring seismic retrofitting, if, by the date of the acquisition of the residential building requiring seismic retrofitting, the specified donee has made the application under Article 17, paragraph (1) of the Act on Promotion of Seismic Retrofitting of Buildings or followed any other procedure specified by Order of the Ministry of Finance for carrying out, on or after that date, a seismic retrofit (meaning extension, rebuilding, repair or remodeling for the purpose of improving safety against earthquakes; the same applies hereinafter in this paragraph) of the residential building requiring seismic retrofitting, and it has been certified, pursuant to the provisions of Order of the Ministry of Finance, that the residential building requiring seismic retrofitting has come to conform to the earthquake resistance standards by the acquisition deadline as a result of that seismic retrofit, the provisions of paragraph (1) may be applied by deeming the acquisition of the residential building requiring seismic retrofitting to be the acquisition of an existing house for residential use, and the residential building requiring seismic retrofitting to be an existing house for residential use, respectively.

⑧In the case where a specified donee who has received the application of the provisions of paragraph (1) with regard to funds for housing acquisition, etc. falls under any of the following cases, the provisions of paragraphs (4) through (6) do not apply:

⑨In the case where an individual who has acquired money by gift from a lineal ascendant of the individual within the application period has appropriated that money to the consideration for the new construction or acquisition of a house for residential use (including a residential building requiring seismic retrofitting prescribed in paragraph (7); the same applies hereinafter in this paragraph and in paragraph (11)) or for an extension (including rebuilding and other work) carried out on a house for residential use owned by the individual, and has carried out that new construction, acquisition or extension by March 15 of the year following the year that includes the day on which the individual acquired the money by that gift, the individual may receive the application of the provisions of this Article (excluding paragraphs (4) through (6)) even if the individual has become unable to use the house for residential use so newly constructed, acquired or extended as the individual's residence by that day because it has been lost due to a disaster.

⑩With regard to the application of the provisions of paragraph (4) in the case where a specified donee who has received the application of the provisions of paragraph (1) with regard to funds for housing acquisition, etc. falls under any of the following cases after March 15 of the year following the year that includes the day on which the specified donee acquired the funds for housing acquisition, etc. by gift, the phrase "December 31 of that following year" in each item of that paragraph is deemed to be replaced with "December 31 of the second year following the year that includes the day on which the specified donee acquired the funds for housing acquisition, etc. by that gift":

⑪In the case where an individual who has acquired money by gift from a lineal ascendant of the individual within the application period appropriates that money to the consideration for the new construction or acquisition of a house for residential use or for an extension (including rebuilding and other work) carried out on a house for residential use owned by the individual, and carries out that new construction, acquisition or extension, the individual may receive the application of the provisions of this Article even if the individual has been unable to carry out that new construction, acquisition or extension by March 15 of the year following the year that includes the day on which the individual acquired the money by that gift due to unavoidable circumstances attributable to a disaster. In this case, the phrase "March 15 of the year following" in each item of paragraph (1), paragraph (4) and paragraph (7) is deemed to be replaced with "March 15 of the second year following".

⑫In the case where a dwelling house newly constructed or acquired, an existing house for residential use acquired, or a house for residential use on which extension, rebuilding, etc. has been carried out, by a specified donee who has received the application of the provisions of paragraph (1), has been lost due to a natural disaster specified by Cabinet Order prescribed in Article 2, item (ii) of the Act on Support for Reconstructing Livelihoods of Disaster Victims, if that specified donee acquires money by gift from a lineal ascendant of the specified donee within the application period, appropriates that money to the consideration for the new construction or acquisition of a house for residential use or for an extension (including rebuilding and other work) carried out on a house for residential use owned by the specified donee, and carries out that new construction, acquisition or extension, then, with regard to the application of the provisions of this Article, the phrase "up to the tax-exempt limit for housing funds (or, in the case where there is an amount that has already not been included in the taxable value for gift tax by the application of the provisions of this paragraph, the balance remaining after deducting the amount not so included)" in paragraph (1) is deemed to be replaced with "up to the tax-exempt limit for housing funds".

⑬With regard to the application of the provisions of Article 54, paragraph (6) of the Supplementary Provisions of the Act Partially Amending the Income Tax Act, etc. (Act No. 8 of 2024) in the case where a person listed in any of the items of paragraph (6) of that Article falls under the case prescribed in the preceding paragraph, the phrase "do not apply" in that paragraph is deemed to be replaced with "do not apply; provided, however, that this does not apply in the case falling under the case prescribed in paragraph (12) of that Article".

⑭The provisions of paragraph (1) apply only if a person seeking the application of the provisions of that paragraph states in the return under the provisions of Article 28 of the Inheritance Tax Act that the person seeks the application of the provisions of that paragraph, and attaches to it a written statement of the calculation under the provisions of that paragraph and other documents specified by Order of the Ministry of Finance.

⑮In the case where a return under the provisions of Article 28 of the Inheritance Tax Act without the statement or attachment referred to in the preceding paragraph has been filed, if the district director finds that there were unavoidable circumstances for the failure to make the statement or attachment, the district director may apply the provisions of paragraph (1), but only in the case where there has been a submission of a document containing that statement and of the documents specified by Order of the Ministry of Finance referred to in that paragraph.

⑯Beyond what is provided for in paragraph (3), paragraph (4), paragraph (7) or the preceding two paragraphs, necessary matters concerning the application of the provisions of paragraph (1) and paragraphs (8) through (13) are specified by Cabinet Order.

①In the case where, during the period from April 1, 2013 to March 31, 2026, an individual (limited to a person under 30 years of age on the day of concluding the education fund management contract) has acquired a beneficial interest in a trust (referred to as a "beneficial interest in a trust" hereinafter in this Article) under an education fund management contract between a lineal ascendant of the individual and a trust company (limited to one that has obtained a license under Article 3 or Article 53, paragraph (1) of the Trust Business Act, and including a financial institution prescribed in Article 1, paragraph (1) of the Act on Engagement in Trust Business by Financial Institutions that conducts trust business prescribed in that paragraph pursuant to that Act; referred to as a "trustee" in the following paragraph and paragraph (12)), in the case where the individual has deposited money acquired by a written gift from a lineal ascendant of the individual as deposits or savings, under an education fund management contract, at a business office, office or any other place equivalent thereto that is located in the area where this Act is in force (referred to as a "business office or similar place" hereinafter in this Article, except in paragraph (9)) of a bank, etc. (meaning a bank or any other financial institution specified by Cabinet Order as a financial institution that accepts deposits or savings; the same applies in the following paragraph and paragraph (4)), or in the case where the individual has purchased securities, under an education fund management contract, at a business office or similar place of a financial instruments business operator prescribed in Article 2, paragraph (9) of the Financial Instruments and Exchange Act (limited to a person that conducts type I financial instruments business prescribed in Article 28, paragraph (1) of that Act; the same applies in the following paragraph and paragraph (4)) with money acquired by a written gift from a lineal ascendant of the individual or anything specified by Cabinet Order as similar thereto (referred to as "monies, etc." hereinafter in this Article), the value of the portion of the value of that beneficial interest in a trust, money or monies, etc. that corresponds to the amount up to 15,000,000 yen (or, in the case where there is an amount that has already not been included in the taxable value for gift tax by the application of the provisions of this paragraph, the balance remaining after deducting the amount not so included) is not included in the taxable value for gift tax; provided, however, that this does not apply in the case where the individual's total income amount prescribed in Article 2, paragraph (1), item (xxx) of the Income Tax Act for income tax for the year preceding the year that includes the day on which the individual acquired that beneficial interest in a trust, money or monies, etc. exceeds 10,000,000 yen.

②In this Article, the meanings of the terms listed in the following items are as prescribed respectively in those items:

③The provisions of the main clause of paragraph (1) apply only if the donee seeking the application of the provisions of the main clause of that paragraph has submitted the return for tax exemption of education funds to the district director with jurisdiction over the donee's place for tax payment, via the business office or similar place of the handling financial institution stated in that return for tax exemption of education funds, by the day on which the trust is created, the day on which the deposits or savings are deposited, or the day on which the securities are purchased.

④In the case where a donee (limited to a person under 30 years of age) has already submitted a return for tax exemption of education funds (limited to the case where the amount stated in that return for tax exemption of education funds is less than 15,000,000 yen), if, within the period prescribed in paragraph (1) and under the education fund management contract relating to that return for tax exemption of education funds, the donee newly acquires a beneficial interest in a trust through an act of a lineal ascendant of the donee, deposits money acquired by a written gift from a lineal ascendant of the donee as deposits or savings at a business office or similar place of a bank, etc., or purchases securities at a business office or similar place of a financial instruments business operator with monies, etc. acquired by a written gift from a lineal ascendant of the donee, the donee may receive the application of the provisions of the main clause of paragraph (1) only if the donee has submitted a return stating that the donee seeks the application of the provisions of the main clause of that paragraph with regard to the value of that beneficial interest in a trust, money or monies, etc., and other matters specified by Order of the Ministry of Finance (referred to as a "statement of additional tax-exempt education funds" in the following paragraph through paragraph (7)) to the district director with jurisdiction over the donee's place for tax payment, via the business office or similar place of the handling financial institution to which that return for tax exemption of education funds was submitted, by the day on which the trust is newly created, the day on which the deposits or savings are deposited, or the day on which the securities are purchased; provided, however, that this does not apply in the case where the donee's total income amount prescribed in Article 2, paragraph (1), item (xxx) of the Income Tax Act for income tax for the year preceding the year that includes the day on which the donee acquired that beneficial interest in a trust, money or monies, etc. exceeds 10,000,000 yen.

⑤In the cases referred to in the preceding two paragraphs, when a return for tax exemption of education funds referred to in paragraph (3) or a statement of additional tax-exempt education funds referred to in the preceding paragraph has been received by the business office or similar place of the handling financial institution prescribed in those provisions, that return or statement is deemed to have been submitted to the district director prescribed in those provisions on the day on which it was received.

⑥A return for tax exemption of education funds may not be submitted in the case where the donee has already submitted a return for tax exemption of education funds (excluding the case where the education fund management contract relating to the return for tax exemption of education funds already submitted has terminated because it fell under the reason listed in paragraph (16), item (v)), and the business office or similar place of a handling financial institution may not accept a return for tax exemption of education funds or a statement of additional tax-exempt education funds in the case where the amount stated in the return for tax exemption of education funds as the amount to which the provisions of the main clause of paragraph (1) are to apply exceeds 15,000,000 yen, or in the case where the total of the amounts stated, as amounts to which the provisions of the main clause of that paragraph are to apply, in the return for tax exemption of education funds and the statements of additional tax-exempt education funds already accepted with regard to the education fund management contract relating to the statement of additional tax-exempt education funds exceeds 15,000,000 yen.

⑦A donee who intends to submit a return for tax exemption of education funds or a statement of additional tax-exempt education funds pursuant to the provisions of paragraph (3) or (4) may, in lieu of submitting that return or statement, provide the matters to be stated in that return or statement to the business office or similar place of the handling financial institution prescribed in those provisions by electronic or magnetic means (meaning a method using an electronic data processing system or any other method using information and communications technology; the same applies in paragraph (7) of the following Article). In this case, the donee is deemed to have submitted that return or statement to the business office or similar place of that handling financial institution.

⑧With regard to the application of the provisions of paragraph (5) in the case where the provisions of the preceding paragraph apply, the phrase "a return for tax exemption of education funds referred to in paragraph (3) or" in that paragraph is deemed to be replaced with "the matters to be stated in a return for tax exemption of education funds referred to in paragraph (3) or", the phrase "a statement of additional tax-exempt education funds referred to in the preceding paragraph has" with "the matters to be stated in a statement of additional tax-exempt education funds referred to in the preceding paragraph have", and the term "received" with "provided".

⑨A donee who receives the application of the provisions of the main clause of paragraph (1) must, by the day specified in each of the following items according to the category of cases listed in those items selected pursuant to the provisions of Cabinet Order, submit or provide to the business office or similar place prescribed in the main clause of paragraph (1) of the handling financial institution prescribed in paragraph (2), item (v) the receipts or other documents relating to money appropriated to the payment of education funds (including electronic or magnetic records (meaning records made in an electronic form, a magnetic form or any other form that cannot be perceived by the human senses, which are used in information processing by computers; the same applies in paragraph (13), paragraph (15), item (i) and paragraph (23)); the same applies hereinafter in this paragraph) that certify the fact of that payment (excluding those relating to educational expenses to which property acquired by a gift subject to the provisions of Article 21-3, paragraph (1), item (ii) of the Inheritance Tax Act has been appropriated, and receipts, etc. prescribed in paragraph (9) of the following Article relating to money appropriated to the payment of marriage and child-rearing funds prescribed in paragraph (2), item (i) of that Article which have been submitted, pursuant to the provisions of that paragraph, to the business office or similar place prescribed in the main clause of paragraph (1) of that Article of the handling financial institution prescribed in paragraph (2), item (v) of that Article, and including, in the case where the payment is of an amount equal to or less than the amount specified by Order of the Ministry of Finance as a small payment, the documents specified by Order of the Ministry of Finance as documents in which the fact of that payment has been stated or recorded; referred to as "receipts, etc." hereinafter in this Article):

⑩The business office or similar place of a handling financial institution must confirm, by the receipts, etc. submitted or provided by the donee pursuant to the provisions of the preceding paragraph, that the money withdrawn has been appropriated to the payment of education funds, make a record of the amount and date of the payment stated or recorded in those receipts, etc., and retain those receipts, etc. and that record (including the records under the provisions of paragraph (12), items (i) and (iii)) by the method specified by Order of the Ministry of Finance during the period from the day on which it received those receipts, etc. until the day on which six years have elapsed after March 15 of the year following the year that includes the day on which the education fund management contract relating to that donee terminated.

⑪In the case listed in paragraph (9), item (ii), if the total amount of money withdrawn during a year is less than the total of the amounts confirmed as having been appropriated to the payment of education funds by the receipts, etc. submitted or provided as having been appropriated to the payment of education funds during that year (limited to those by which it can be confirmed, from the date of payment stated or recorded in those receipts, etc. or other records, that they were appropriated to the payment of education funds during that year), the amount to be recorded by the business office or similar place of the handling financial institution pursuant to the provisions of the preceding paragraph is limited to the total amount of the money so withdrawn.

⑫In the case where the donor (meaning a lineal ascendant of the donee who has created a trust with the donee as the beneficiary under an education fund management contract with a trustee, a lineal ascendant of the donee who has made a written gift to the donee of money for making deposits or savings under an education fund management contract, or a lineal ascendant of the donee who has made a written gift to the donee of monies, etc. for purchasing securities under an education fund management contract; the same applies hereinafter in this Article) dies during the period from the day on which the donor created the trust under the education fund management contract relating to the application of the provisions of the main clause of paragraph (1), the day on which the donor made a written gift of money for making deposits or savings under the education fund management contract relating to the application of the provisions of the main clause of that paragraph, or the day on which the donor made a written gift of monies, etc. for purchasing securities under the education fund management contract relating to the application of the provisions of the main clause of that paragraph, until the day of termination of that education fund management contract, the following provisions apply:

⑬The provisions of the preceding paragraph (excluding the part relating to item (i)) do not apply in the case where, on the date of death of the donor referred to in that paragraph, the donee falls under any of the following cases (in the case falling under the case listed in item (ii) or (iii), limited to the case where the donee has submitted or provided a document (including an electronic or magnetic record) clarifying that fact together with the notification under the provisions of item (i) of that paragraph; referred to as the "case of being under 23, etc." in paragraph (15)); provided, however, that this does not apply if the total of the taxable values for inheritance tax calculated on the assumption that the provisions of item (ii) of the preceding paragraph do not apply to any of the persons who have acquired property from the donor by inheritance or bequest (including a gift relating to property acquired by gift from the donor which is subject to the provisions of Article 21-9, paragraph (3) of the Inheritance Tax Act (including as applied mutatis mutandis pursuant to Article 70-2-6, paragraph (1), Article 70-2-7, paragraph (1) (including as applied mutatis mutandis pursuant to Article 70-2-8) or Article 70-3, paragraph (1))) (referred to as the "total taxable value for inheritance tax relating to the donor" in the following paragraph, paragraph (15), item (i) and paragraph (20), item (iv)) exceeds 500,000,000 yen:

⑭The total taxable value for inheritance tax relating to the donor referred to in the proviso to the preceding paragraph is to be calculated based on the value of the property and the amount of the liabilities that formed the basis for calculating the amount of inheritance tax before the day on which it becomes impossible to make a reassessment or determination, etc. prescribed in Article 58, paragraph (1), item (i), (a) of the Act on General Rules for National Taxes pursuant to the provisions of Article 70, paragraph (1) or (3) of that Act or Article 36 of the Inheritance Tax Act.

⑮In the case where the donee referred to in paragraph (13) has fallen under the case of being under 23, etc., when the due date for filing the return filed by the due date under the provisions of Article 27, paragraph (1) of the Inheritance Tax Act relating to the death of the donor referred to in that paragraph has passed, the following provisions apply:

⑯An education fund management contract is to terminate on the earliest of the days specified in the following items according to the category of reasons listed in those items:

⑰In the case where an education fund management contract has terminated because a reason listed in any of the items of the preceding paragraph (excluding item (iv)) has occurred, if there is a balance remaining after deducting the amount of education fund expenditure (including the remaining managed balance deemed to have been acquired by inheritance pursuant to the provisions of paragraph (12), item (ii); the same applies in the following paragraph) from the tax-exempt contribution amount relating to that education fund management contract, the following provisions apply:

⑱In the case where an education fund management contract has terminated because the reason listed in paragraph (16), item (iv) has occurred, the balance remaining after deducting the amount of education fund expenditure from the tax-exempt contribution amount relating to that education fund management contract is not included in the taxable value for gift tax.

⑲In the case where an education fund management contract has terminated, the head of the business office or similar place of the handling financial institution must submit a report stating the name and domicile or residence of the donee relating to that education fund management contract and other matters specified by Order of the Ministry of Finance (referred to as a "report on the termination of an education fund management contract" in paragraphs (23) and (24)) to the district director with jurisdiction over the donee's place for tax payment by the last day of the second month following the month that includes the day on which that education fund management contract terminated (or, in the case where that education fund management contract terminated because the reason listed in paragraph (16), item (iv) has occurred, the day on which the head of the business office or similar place of the handling financial institution learned of that reason).

⑳When the district director learns of any of the following facts, the district director is to notify the head of the business office or similar place of the handling financial institution of that fact and other matters specified by Order of the Ministry of Finance:

（二十一）When the head of the business office or similar place of a handling financial institution has received a notification from the district director under the provisions of the preceding paragraph (limited to a notification relating to the facts listed in item (i) or (iv) of that paragraph), the head must correct the record referred to in paragraph (10) (including the record under the provisions of paragraph (12), item (iii)) based on that notification.

（二十二）Beyond what is provided for in paragraphs (3) through (11), paragraph (16) and the preceding three paragraphs, necessary matters concerning the application of the provisions of paragraph (1), paragraphs (12) through (15), paragraph (17) and paragraph (18) are specified by Cabinet Order.

（二十三）When it is necessary for an investigation concerning the submission of a report on the termination of an education fund management contract, the relevant official of the National Tax Agency, the Regional Taxation Bureau, or the tax office may ask questions of a person who is obligated to submit that report on the termination of an education fund management contract, inspect that person's books and documents concerning education fund management contracts (including, where electronic or magnetic records have been created or retained in lieu of the creation or retention of those books and documents, those electronic or magnetic records; the same applies in paragraph (20) of the following Article and Article 70-13, paragraph (4), item (iii)) and other articles, or request the presentation or submission of those articles (including copies thereof).

（二十四）When it is necessary for an investigation concerning the submission of a report on the termination of an education fund management contract, the relevant official of the National Tax Agency, the Regional Taxation Bureau, or the tax office may retain articles submitted in the course of the investigation.

（二十五）The relevant official of the National Tax Agency, the Regional Taxation Bureau, or the tax office, when asking questions, conducting an inspection, or requesting presentation or submission pursuant to the provisions of paragraph (23), must carry an identification card and present it to the person concerned when requested.

（二十六）The authority of the relevant officials under the provisions of paragraphs (23) and (24) must not be construed as being granted for the purpose of criminal investigation.

（二十七）Beyond what is provided for in the preceding paragraph, necessary matters concerning the application of the provisions of paragraph (24) are specified by Cabinet Order.

①In the case where, during the period from April 1, 2015 to March 31, 2027, an individual (limited to a person who is 18 years of age or older and less than 50 years of age on the day on which the individual concludes a contract for management of marriage and child-rearing funds) has acquired a beneficial interest in a trust (referred to as a "beneficial interest in a trust" in this paragraph, paragraph (4) and paragraph (17), item (iii)) under a contract for management of marriage and child-rearing funds between a lineal ascendant of that individual and a trust company (limited to one that has obtained a license under Article 3 or Article 53, paragraph (1) of the Trust Business Act, and including a financial institution prescribed in Article 1, paragraph (1) of the Act on Engagement in Trust Business by Financial Institutions that engages, pursuant to that Act, in the trust business prescribed in that paragraph; referred to as the "trustee" in the following paragraph and paragraph (12)), in the case where the individual has deposited money acquired by a written gift from that lineal ascendant, under a contract for management of marriage and child-rearing funds, as deposits or savings at a business office, office or any other place equivalent thereto located in the area where this Act is in force (referred to as a "business office or similar place" hereinafter in this Article, except in paragraph (9)) of a bank, etc. (meaning a bank or any other financial institution specified by Cabinet Order as a financial institution that accepts deposits or savings; the same applies in the following paragraph and paragraph (4)), or in the case where the individual has purchased securities, under a contract for management of marriage and child-rearing funds, at a business office or similar place of a financial instruments business operator prescribed in Article 2, paragraph (9) of the Financial Instruments and Exchange Act (limited to a person that engages in type I financial instruments business prescribed in Article 28, paragraph (1) of that Act; the same applies in the following paragraph and paragraph (4)) with money acquired by a written gift from that lineal ascendant or anything specified by Cabinet Order as being similar thereto (referred to as "monies, etc." hereinafter in this Article), the value of the part corresponding to the amount up to 10,000,000 yen (or, in the case where there is an amount that has already not been included in the taxable value for gift tax by the application of the provisions of this paragraph, the balance remaining after deducting the amount not so included) out of the value of that beneficial interest in a trust, money or monies, etc. is not included in the taxable value for gift tax; provided, however, that this does not apply in the case where the total income amount prescribed in Article 2, paragraph (1), item (xxx) of the Income Tax Act for income tax of that individual for the year preceding the year that includes the day on which the individual acquired that beneficial interest in a trust, money or monies, etc. exceeds 10,000,000 yen.

②In this Article, the meanings of the terms listed in the following items are as prescribed respectively in those items:

③The provisions of the main clause of paragraph (1) apply only in the case where the donee who seeks the application of the provisions of the main clause of that paragraph has submitted a tax exemption return for marriage and child-rearing funds to the district director with jurisdiction over the place for tax payment of that donee, via the business office or similar place of the handling financial institution stated in that tax exemption return for marriage and child-rearing funds, by the day on which the trust is created, the day on which the deposits or savings are deposited, or the day on which the securities are purchased.

④In the case where a donee has already submitted a tax exemption return for marriage and child-rearing funds (limited to the case where the amount stated in that tax exemption return for marriage and child-rearing funds is less than 10,000,000 yen), when, under the contract for management of marriage and child-rearing funds pertaining to that tax exemption return for marriage and child-rearing funds, that donee has newly acquired a beneficial interest in a trust by an act of a lineal ascendant of that donee, has deposited money acquired by a written gift from that lineal ascendant as deposits or savings at a business office or similar place of a bank, etc., or has purchased securities at a business office or similar place of a financial instruments business operator with monies, etc. acquired by a written gift from that lineal ascendant, that donee may receive the application of the provisions of the main clause of paragraph (1) only in the case where that donee has submitted a return stating that the donee seeks the application of the provisions of the main clause of paragraph (1) with regard to the value of that beneficial interest in a trust, money or monies, etc. and other matters specified by Order of the Ministry of Finance (referred to as a "statement of additional tax-exempt marriage and child-rearing funds" in the following paragraph through paragraph (7)) to the district director with jurisdiction over the place for tax payment of that donee, via the business office or similar place of the handling financial institution to which that tax exemption return for marriage and child-rearing funds was submitted, by the day on which the trust is newly created, the day on which the deposits or savings are deposited, or the day on which the securities are purchased; provided, however, that this does not apply in the case where the total income amount prescribed in Article 2, paragraph (1), item (xxx) of the Income Tax Act for income tax of that donee for the year preceding the year that includes the day on which that donee acquired that beneficial interest in a trust, money or monies, etc. exceeds 10,000,000 yen.

⑤In the cases referred to in the preceding two paragraphs, when the tax exemption return for marriage and child-rearing funds referred to in paragraph (3) or the statement of additional tax-exempt marriage and child-rearing funds referred to in the preceding paragraph has been accepted at the business office or similar place of the handling financial institution prescribed in those provisions, those returns are deemed to have been submitted to the district director prescribed in those provisions on the day on which they were accepted.

⑥A tax exemption return for marriage and child-rearing funds may not be submitted in the case where the donee has already submitted a tax exemption return for marriage and child-rearing funds (excluding the case where the contract for management of marriage and child-rearing funds pertaining to the tax exemption return for marriage and child-rearing funds already submitted has terminated because it has fallen under the grounds listed in paragraph (13), item (iii)), and, in the case where the amount stated in a tax exemption return for marriage and child-rearing funds as being subject to the application of the provisions of the main clause of paragraph (1) exceeds 10,000,000 yen, or in the case where the total of the amounts stated as being subject to the application of the provisions of the main clause of that paragraph in the tax exemption return for marriage and child-rearing funds and statements of additional tax-exempt marriage and child-rearing funds already accepted with regard to the contract for management of marriage and child-rearing funds pertaining to a statement of additional tax-exempt marriage and child-rearing funds exceeds 10,000,000 yen, the business office or similar place of the handling financial institution may not accept those returns.

⑦A donee who intends to submit a tax exemption return for marriage and child-rearing funds or a statement of additional tax-exempt marriage and child-rearing funds pursuant to the provisions of paragraph (3) or paragraph (4) may, in lieu of submitting those returns, provide the matters to be stated in those returns to the business office or similar place of the handling financial institution prescribed in those provisions by electronic or magnetic means. In this case, that donee is deemed to have submitted those returns to the business office or similar place of that handling financial institution.

⑧With regard to the application of the provisions of paragraph (5) in the case where the provisions of the preceding paragraph apply, the phrase "the tax exemption return for marriage and child-rearing funds referred to in paragraph (3) or the statement of additional tax-exempt marriage and child-rearing funds referred to in the preceding paragraph has been accepted" in that paragraph is deemed to be replaced with "the matters to be stated in the tax exemption return for marriage and child-rearing funds referred to in paragraph (3) or the matters to be stated in the statement of additional tax-exempt marriage and child-rearing funds referred to in the preceding paragraph have been provided", and the phrase "they were accepted" with "they were provided".

⑨A donee who receives the application of the provisions of the main clause of paragraph (1) must submit, by the day specified in the following items for the category of cases listed in each of those items selected pursuant to the provisions of Cabinet Order, receipts or any other documents pertaining to money appropriated to the payment of marriage and child-rearing funds that certify the fact of that payment (excluding those pertaining to living expenses or education expenses to which property acquired by a gift to which the provisions of Article 21-3, paragraph (1), item (ii) of the Inheritance Tax Act have been applied was appropriated, and the receipts, etc. prescribed in paragraph (9) of the preceding Article pertaining to money appropriated to the payment of education funds prescribed in paragraph (2), item (i) of that Article that have been submitted or provided, pursuant to the provisions of paragraph (9) of that Article, to the business office or similar place prescribed in the main clause of paragraph (1) of that Article of the handling financial institution prescribed in paragraph (2), item (v) of that Article (including receipts or any other documents pertaining to a payment stated or recorded in the documents specified by Order of the Ministry of Finance prescribed in paragraph (9) of that Article that certify the fact of that payment); referred to as "receipts, etc." hereinafter in this Article) to the business office or similar place prescribed in the main clause of paragraph (1) of the handling financial institution prescribed in paragraph (2), item (v):

⑩The business office or similar place of the handling financial institution must confirm, by the receipts, etc. submitted by the donee pursuant to the provisions of the preceding paragraph, that the money withdrawn has been appropriated to the payment of marriage and child-rearing funds, make a record of the amount and date of the payment stated in those receipts, etc., and retain those receipts, etc. and that record (including the record under the provisions of paragraph (12), item (iii)) by the method specified by Order of the Ministry of Finance during the period from the day on which it received those receipts, etc. until the day on which six years have elapsed after March 15 of the year following the year that includes the day on which the contract for management of marriage and child-rearing funds pertaining to that donee terminated.