South Korea

When is the inheritance tax filing deadline?

6 months

Filing deadline

20%

Late penalty rate

10M KRW

Min. penalty

5 years

Statute of limitations

The Short Answer

The inheritance tax filing deadline in South Korea is within 6 months from the date the inheritance begins.

What the Law Says

South Korean law sets a strict deadline for filing inheritance tax returns and outlines penalties for late filing.

Under the Inheritance and Gift Tax Act, taxpayers must file their inheritance tax return within 6 months from the date the inheritance begins — typically the date of the deceased’s death.

If the taxpayer fails to file by the deadline, a late filing penalty applies: 20% of the tax amount due, with a minimum penalty of 10 million Korean won (KRW).

The statute of limitations for inheritance tax assessment is 5 years from the statutory filing deadline, unless fraud or concealment is involved.

Statutory Text
The taxpayer shall file a tax return within six months from the day following the day on which the inheritance begins.
— Inheritance and Gift Tax Act, s. 43 — Filing of Tax Return

Statutory Text
Where a taxpayer fails to file a tax return by the statutory deadline, a penalty of 20/100 of the tax amount due shall be imposed; provided that such penalty shall not be less than ten million won.
— Inheritance and Gift Tax Act, s. 60 — Penalty for Failure to File Tax Return

Statutory Text
The period of prescription for assessment of inheritance tax shall be five years from the statutory deadline for filing the tax return.
— Inheritance and Gift Tax Act, s. 72 — Period of Prescription

What to Do

Confirm the exact date of the deceased’s death — this starts the 6-month filing clock.

Gather all inheritance-related documents (will, asset records, valuation reports) within the first 2–3 months.

File the inheritance tax return with the National Tax Service (NTS) before the 6-month deadline.

If unable to file on time, apply for a one-time extension of up to 2 months — only for justifiable reasons like overseas residence or serious illness.

Pay any tax due by the filing deadline to avoid additional interest (annual 12% on unpaid amounts).

Sources

statuteInheritance and Gift Tax Act, s. 43 — Filing of Tax Return statuteInheritance and Gift Tax Act, s. 60 — Penalty for Failure to File Tax Return statuteInheritance and Gift Tax Act, s. 72 — Period of Prescription

Not legal advice. This article is general information based on publicly available sources, written for educational purposes. Laws change and individual situations vary. Consult a licensed attorney in your jurisdiction before acting on anything you read here. Last reviewed: 2026-06-08.