Inheritance and donations

Transfer after death of securities

In such cases, the notary or representative handling the estate must send a letter to BNP Paribas Securities Services (for fully registered shares) or to the financial intermediary administering the shares (in the case of administered registered shares or bearer shares). This letter should indicate the marital status of the deceased shareholder, and request that the shares be transferred into the names of the heirs or sold.

The Sanofi shares will be valued either at the average quoted market price on the date of death or at the average quoted market price for the thirty days preceding the date of death, at the discretion of the heirs. All costs and duties incurred by the heirs are added to the cost of the shares for tax purposes.

Lifetime division of securities

Shareholders may during their lifetime decide to divide some or all of their assets (including their shares) between their own children. Lifetime division allows people to make a gift to all of their children. Such transfers must be made by notarised deed, which must then be sent to BNP Paribas Securities Services (for fully registered shares) or to the financial intermediary administering the shares (in the case of administered registered shares or bearer shares).

Unlike in the case of a gift from hand to hand, the assets are not usually revalued on the donor’s death.

Gift from hand to hand

Shareholders may, during their lifetime, make a gift “from hand to hand”, which involves transferring their shares to the securities account of the beneficiaries. This requires no more than a written declaration, signed by the beneficiary and sent to BNP Paribas Securities Services (for fully registered shares) or to the financial intermediary administering the shares (in the case of administered registered shares or bearer shares).

A gift from hand to hand must be declared to the tax authorities within one month following the date of the gift. Usually, the assets gifted must be revalued on the donor’s death and included in the division of the estate. As long as the manual donation is not declared, it will not be subject to gift tax and, correspondingly, the 15-year period after which the allowance is replenished will not begin to run. Indeed, only the disclosure of a manual donation to the tax authorities allows it to be officially dated. In addition, generally, donated manually donated assets will need to be reassessed upon the donor's death and included in the division of assets.

Customary gift

Shareholders may make a gift in the form of shares to mark a special event, including birthdays and weddings. If the gift is low in value relative to the donor’s total estate and revenues at the date of the gift, there is no obligation to declare it to the tax authorities and no impact on the donor’s estate at death.

 

Calculation of inheritance and donations

Before the application of the inheritance or gift tax scales, free transfers benefit, once every 15 years, from the application of deductions on the net share of each taxpayer:

Beneficiaries Inheritance Donation
Spouses / civil partners Exoneration €80,724
CHILDREN / AscendantS €100,000 €100,000
Grandchildren €1,594 €31,865
Great-grandchildren €1,594 €5,310
Brothers or sisters (alive or represented) €15,932 €15,932
Brothers or sisters (under conditions*) Exoneration €15 932
Nefew or Niece €7,967 €7,967
Disabled people** €159,325

€159,325

General Abatement €1,594 Nothing
  *Be single, widowed, divorced or separated from cops, be over 50 years of age or suffer from an infirmity making it impossible for the interested party to provide for the necessities of life through their work and to have been domiciled with the deceased during the 5 years preceding the death.
  **Cumulative with the applicable reductions according to the degree of kinship.
Contact BNP Paribas Securities Services

BNP Paribas Securities Services
Actionnariat Sanofi
Corporate Trust Services - Services aux émetteurs
Immeuble Europe
9, rue du débarcadère
93761 Pantin Cedex - FRANCE


France 0 800 87 74 32
From outside France +33 (0)1 40 14 80 40
Fax: +33 (0)1 55 77 34 17

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