My understanding is that the reason for the gifting letter is if you are putting it into a trust, and LLC, or giving it to someone, it is not just the tax scenario... its a way to prove that an entity ie trust, llc, or another person obtained possession prior to the RV, therefore the value of it is greaty diminished... unlike it will be once the RV has happened. So it is a two fold in having one. Depends fully on your need and intention. seek your financial expert as well.
Affidavit of Gift
My name is [my name], also known as [drop your middle initial or add any other AKA here]. I am producing this affidavit to memorialize a completed gift of __[quantity]____________ Iraqi Dinar note to my [relationship- i.e. friend, son, daughter] , [recipientís name].
The intent of this letter is to establish the time of gift and basis of the gift for gift tax valuation purposes and to provide documentation of the transfer in the case that such documentation is ever necessary for [recipientís name] to exchange the gifted nonfunctional currency for other currency.
I, [my name], located in the city of [city], state of [state], on the _____day of _______, 20____ did gift a note(s) of currency of the Iraqi government with a total value of __[quantity]____________ Iraqi Dinar to my [relationship], [recipientís name], living in the city of [city], state of [state] without compensation or expectation of gain for myself.
This gift was accomplished by placing said note(s) in the mail with the USPS, limited delivery, postage paid, and properly addressed as follows:
ESTABLISHING TRAIL OF TITLE
On the ___ day of ______________ 2010 I exchanged $[purchase price of Dinar] of United States currency for [total quantity of that purchase as reflected by receipt] Iraqi Dinar (IQD). The above referenced Dinar was received by me in this transaction. I conducted this transaction with [name of currency dealer] located in the city of [city], state of [state] under the order # of [order number].
I hereby affirm and attest that the above statement is true and correct to the best of my knowledge.
[my name], Affiant
This instrument was on the date thereof signed, published and declared by [my name] to be a true affidavit in our presence and in the presence of each of us, and we, at the same time, at the affiantís request, in the affiantís presence and in the presence of each other, have hereunto signed our names and addresses as attesting witnesses.
STATE OF ________________________ )
COUNTY OF _______________________ )
On this day, _______________________, 20___, before me personally appeared [my name], as affiant, personally known to me (or proved to me on the basis of satisfactory evidence) to be the individual whose name is subscribed to the foregoing Affidavit of Gift, and acknowledged that he[she] executed the same as his[her] voluntary act and deed for the purposes therein contained. Also appeared before me ____________________ as witness personally known to me (or proved to me on the basis of satisfactory evidence), and _______________________ as witness personally known to me (or proved to me on the basis of satisfactory evidence) who did witness affiantís signature in his presence and in the presence of each other.
Witness my hand and official seal.
____________________________, Notary Public
My commission expires: ______________________