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Sec. 2642. Inclusion Ratio

I.R.C. § 2642(a) Inclusion Ratio Defined
For purposes of this chapter—
I.R.C. § 2642(a)(1) In General
Except as otherwise provided in this section, the inclusion ratio with respect to any property transferred in a generation-skipping transfer shall be the excess (if any) of 1 over—
I.R.C. § 2642(a)(1)(A)
except as provided in subparagraph (B), the applicable fraction determined for the trust from which such transfer is made, or
I.R.C. § 2642(a)(1)(B)
in the case of a direct skip, the applicable fraction determined for such skip.
I.R.C. § 2642(a)(2) Applicable Fraction
For purposes of paragraph (1), the applicable fraction is a fraction—
I.R.C. § 2642(a)(2)(A)
the numerator of which is the amount of the GST exemption allocated to the trust (or in the case of a direct skip, allocated to the property transferred in such skip), and
I.R.C. § 2642(a)(2)(B)
the denominator of which is—
I.R.C. § 2642(a)(2)(B)(i)
the value of the property transferred to the trust (or involved in the direct skip), reduced by
I.R.C. § 2642(a)(2)(B)(ii)
the sum of—
I.R.C. § 2642(a)(2)(B)(ii)(I)
any Federal estate tax or State death tax actually recovered from the trust attributable to such property, and
I.R.C. § 2642(a)(2)(B)(ii)(II)
any charitable deduction allowed under section 2055 or 2522 with respect to such property.
I.R.C. § 2642(a)(3) Severing Of Trusts
I.R.C. § 2642(a)(3)(A) In General
If a trust is severed in a qualified severance, the trusts resulting from such severance shall be treated as separate trusts thereafter for purposes of this chapter.
I.R.C. § 2642(a)(3)(B) Qualified Severance
For purposes of subparagraph (A)
I.R.C. § 2642(a)(3)(B)(i) In General
The term “qualified severance” means the division of a single trust and the creation (by any means available under the governing instrument or under local law) of two or more trusts if—
I.R.C. § 2642(a)(3)(B)(i)(I)
the single trust was divided on a fractional basis, and
I.R.C. § 2642(a)(3)(B)(i)(II)
the terms of the new trusts, in the aggregate, provide for the same succession of interests of beneficiaries as are provided in the original trust.
I.R.C. § 2642(a)(3)(B)(ii) Trusts With Inclusion Ratio Greater Than Zero
If a trust has an inclusion ratio of greater than zero and less than 1, a severance is a qualified severance only if the single trust is divided into two trusts, one of which receives a fractional share of the total value of all trust assets equal to the applicable fraction of the single trust immediately before the severance. In such case, the trust receiving such fractional share shall have an inclusion ratio of zero and the other trust shall have an inclusion ratio of 1.
I.R.C. § 2642(a)(3)(B)(iii) Regulations
The term “qualified severance” includes any other severance permitted under regulations prescribed by the Secretary.
I.R.C. § 2642(a)(3)(C) Timing And Manner Of Severances
A severance pursuant to this paragraph may be made at any time. The Secretary shall prescribe by forms or regulations the manner in which the qualified severance shall be reported to the Secretary.
I.R.C. § 2642(b) Valuation Rules, Etc.
Except as provided in subsection (f)
I.R.C. § 2642(b)(1) Gifts For Which Gift Tax Return Filed Or Deemed Allocation Made
If the allocation of the GST exemption to any transfers of property is made on a gift tax return filed on or before the date prescribed by section 6075(b) for such transfer or is deemed to be made under section 2632(b)(1) or (c)(1)
I.R.C. § 2642(b)(1)(A)
the value of such property for purposes of subsection (a) shall be its value as finally determined for purposes of chapter 12 (within the meaning of section 2001(f)(2)), or, in the case of an allocation deemed to have been made at the close of an estate tax inclusion period, its value at the time of the close of the estate tax inclusion period, and
I.R.C. § 2642(b)(1)(B)
such allocation shall be effective on and after the date of such transfer, or, in the case of an allocation deemed to have been made at the close of an estate tax inclusion period, on and after the close of such estate tax inclusion period.
I.R.C. § 2642(b)(2) Transfers And Allocations At Or After Death
I.R.C. § 2642(b)(2)(A) Transfers At Death
If property is transferred as a result of the death of the transferor, the value of such property for purposes of subsection (a) shall be its value as finally determined for purposes of chapter 11; except that, if the requirements prescribed by the Secretary respecting allocation of post-death changes in value are not met, the value of such property shall be determined as of the time of the distribution concerned.
I.R.C. § 2642(b)(2)(B) Allocations To Property Transferred At Death Of Transferor
Any allocation to property transferred as a result of the death of the transferor shall be effective on and after the date of the death of the transferor.
I.R.C. § 2642(b)(3) Allocations To Inter Vivos Transfers Not Made On Timely Filed Gift Tax Return
If any allocation of the GST exemption to any property not transferred as a result of the death of the transferor is not made on a gift tax return filed on or before the date prescribed by section 6075(b) and is not deemed to be made under section 2632(b)(1)
I.R.C. § 2642(b)(3)(A)
the value of such property for purposes of subsection (a) shall be determined as of the time such allocation is filed with the Secretary, and
I.R.C. § 2642(b)(3)(B)
such allocation shall be effective on and after the date on which such allocation is filed with the Secretary.
I.R.C. § 2642(b)(4) QTIP Trusts
If the value of property is included in the estate of a spouse by virtue of section 2044, and if such spouse is treated as the transferor of such property under section 2652(a), the value of such property for purposes of subsection (a) shall be its value for purposes of chapter 11 in the estate of such spouse.
I.R.C. § 2642(c) Treatment Of Certain Direct Skips Which Are Nontaxable Gifts
I.R.C. § 2642(c)(1) In General
In the case of a direct skip which is a nontaxable gift, the inclusion ratio shall be zero.
I.R.C. § 2642(c)(2) Exception For Certain Transfers In Trust
Paragraph (1) shall not apply to any transfer to a trust for the benefit of an individual unless—
I.R.C. § 2642(c)(2)(A)
during the life of such individual, no portion of the corpus or income of the trust may be distributed to (or for the benefit of) any person other than such individual, and
I.R.C. § 2642(c)(2)(B)
if the trust does not terminate before the individual dies, the assets of such trust will be includible in the gross estate of such individual.
Rules similar to the rules of section 2652(c)(3) shall apply for purposes of subparagraph (A).
I.R.C. § 2642(c)(3) Nontaxable Gift
For purposes of this subsection, the term “nontaxable gift” means any transfer of property to the extent such transfer is not treated as a taxable gift by reason of—
I.R.C. § 2642(c)(3)(A)
section 2503(b) (taking into account the application of section 2513), or
I.R.C. § 2642(c)(3)(B)
section 2503(e).
I.R.C. § 2642(d) Special Rules Where More Than 1 Transfer Made To Trust
I.R.C. § 2642(d)(1) In General
If a transfer of property is made to a trust in existence before such transfer, the applicable fraction for such trust shall be recomputed as of the time of such transfer in the manner provided in paragraph (2).
I.R.C. § 2642(d)(2) Applicable Fraction
In the case of any such transfer, the recomputed applicable fraction is a fraction—
I.R.C. § 2642(d)(2)(A)
the numerator of which is the sum of—
I.R.C. § 2642(d)(2)(A)(i)
the amount of the GST exemption allocated to property involved in such transfer, plus
I.R.C. § 2642(d)(2)(A)(ii)
the nontax portion of such trust immediately before such transfer, and
I.R.C. § 2642(d)(2)(B)
the denominator of which is the sum of—
I.R.C. § 2642(d)(2)(B)(i)
the value of the property involved in such transfer reduced by the sum of—
I.R.C. § 2642(d)(2)(B)(i)(I)
any Federal estate tax or State death tax actually recovered from the trust attributable to such property, and
I.R.C. § 2642(d)(2)(B)(i)(II)
any charitable deduction allowed under section 2055 or 2522 with respect to such property, and
I.R.C. § 2642(d)(2)(B)(ii)
the value of all of the property in the trust (immediately before such transfer).
I.R.C. § 2642(d)(3) Nontax Portion
For purposes of paragraph (2), the term “nontax portion" means the product of—
I.R.C. § 2642(d)(3)(A)
the value of all of the property in the trust, and
I.R.C. § 2642(d)(3)(B)
the applicable fraction in effect for such trust.
I.R.C. § 2642(d)(4) Similar Recomputation In Case Of Certain Late Allocations
If—
I.R.C. § 2642(d)(4)(A)
any allocation of the GST exemption to property transferred to a trust is not made on a timely filed gift tax return required by section 6019, and
I.R.C. § 2642(d)(4)(B)
there was a previous allocation with respect to property transferred to such trust,
the applicable fraction for such trust shall be recomputed as of the time of such allocation under rules similar to the rules of paragraph (2).
I.R.C. § 2642(e) Special Rules For Charitable Lead Annuity Trusts
I.R.C. § 2642(e)(1) In General
For purposes of determining the inclusion ratio for any charitable lead annuity trust, the applicable fraction shall be a fraction—
I.R.C. § 2642(e)(1)(A)
the numerator of which is the adjusted GST exemption, and
I.R.C. § 2642(e)(1)(B)
the denominator of which is the value of all of the property in such trust immediately after the termination of the charitable lead annuity.
I.R.C. § 2642(e)(2) Adjusted GST Exemption
For purposes of paragraph (1), the adjusted GST exemption is an amount equal to the GST exemption allocated to the trust increased by interest determined—
I.R.C. § 2642(e)(2)(A)
at the interest rate used in determining the amount of the deduction under section 2055 or 2522 (as the case may be) for the charitable lead annuity, and
I.R.C. § 2642(e)(2)(B)
for the actual period of the charitable lead annuity.
I.R.C. § 2642(e)(3) Definitions
For purposes of this subsection—
I.R.C. § 2642(e)(3)(A) Charitable Lead Annuity Trust
The term “charitable lead annuity trust” means any trust in which there is a charitable lead annuity.
I.R.C. § 2642(e)(3)(B) Charitable Lead Annuity
The term “charitable lead annuity” means any interest in the form of a guaranteed annuity with respect to which a deduction was allowed under section 2055 or 2522 (as the case may be).
I.R.C. § 2642(e)(4) Coordination With Subsection (d)
Under regulations, appropriate adjustments shall be made in the application of subsection (d) to take into account the provisions of this subsection.
I.R.C. § 2642(f) Special Rules For Certain Inter Vivos Transfers
Except as provided in regulations—
I.R.C. § 2642(f)(1) In General
For purposes of determining the inclusion ratio, if—
I.R.C. § 2642(f)(1)(A)
an individual makes an inter vivos transfer of property, and
I.R.C. § 2642(f)(1)(B)
the value of such property would be includible in the gross estate of such individual under chapter 11 if such individual died immediately after making such transfer (other than by reason of section 2035),
any allocation of GST exemption to such property shall not be made before the close of the estate tax inclusion period (and the value of such property shall be determined under paragraph (2)). If such transfer is a direct skip, such skip shall be treated as occurring as of the close of the estate tax inclusion period.
I.R.C. § 2642(f)(2) Valuation
In the case of any property to which paragraph (1) applies, the value of such property shall be—
I.R.C. § 2642(f)(2)(A)
if such property is includible in the gross estate of the transferor (other than by reason of section 2035), its value for purposes of chapter 11, or
I.R.C. § 2642(f)(2)(B)
if subparagraph (A) does not apply, its value as of the close of the estate tax inclusion period (or, if any allocation of GST exemption to such property is not made on a timely filed gift tax return for the calendar year in which such period ends, its value as of the time such allocation is filed with the Secretary).
I.R.C. § 2642(f)(3) Estate Tax Inclusion Period
For purposes of this subsection, the term “estate tax inclusion period” means any period after the transfer described in paragraph (1) during which the value of the property involved in such transfer would be includible in the gross estate of the transferor under chapter 11 if he died. Such period shall in no event extend beyond the earlier of—
I.R.C. § 2642(f)(3)(A)
the date on which there is a generation-skipping transfer with respect to such property, or
I.R.C. § 2642(f)(3)(B)
the date of the death of the transferor.
I.R.C. § 2642(f)(4) Treatment Of Spouse
Except as provided in regulations, any reference in this subsection to an individual or transferor shall be treated as including a reference to the spouse of such individual or transferor.
I.R.C. § 2642(f)(5) Coordination With Subsection (d)
Under regulations, appropriate adjustments shall be made in the application of subsection (d) to take into account the provisions of this subsection.
I.R.C. § 2642(g) Relief Provisions
I.R.C. § 2642(g)(1) Relief From Late Elections
I.R.C. § 2642(g)(1)(A) In General
The Secretary shall by regulation prescribe such circumstances and procedures under which extensions of time will be granted to make—
I.R.C. § 2642(g)(1)(A)(i)
an allocation of GST exemption described in paragraph (1) or (2) of subsection (b), and
I.R.C. § 2642(g)(1)(A)(ii)
an election under subsection (b)(3) or (c)(5) of section 2632.
Such regulations shall include procedures for requesting comparable relief with respect to transfers made before the date of the enactment of this paragraph.
I.R.C. § 2642(g)(1)(B) Basis For Determinations
In determining whether to grant relief under this paragraph, the Secretary shall take into account all relevant circumstances, including evidence of intent contained in the trust instrument or instrument of transfer and such other factors as the Secretary deems relevant. For purposes of determining whether to grant relief under this paragraph, the time for making the allocation (or election) shall be treated as if not expressly prescribed by statute.
I.R.C. § 2642(g)(2) Substantial Compliance
An allocation of GST exemption under section 2632 that demonstrates an intent to have the lowest possible inclusion ratio with respect to a transfer or a trust shall be deemed to be an allocation of so much of the transferor's unused GST exemption as produces the lowest possible inclusion ratio. In determining whether there has been substantial compliance, all relevant circumstances shall be taken into account, including evidence of intent contained in the trust instrument or instrument of transfer and such other factors as the Secretary deems relevant.
(Added by Pub. L. 99-514, title XIV, Sec. 1431(a), Oct. 22, 1986, 100 Stat. 2722, and amended by Pub. L. 100-647, title I, Sec. 1014(g)(3)(A), (4), (17)(A), (B), (18), Nov. 10, 1988, 102 Stat. 3563, 3566, 3567; Pub. L. 101-239, title VII, Sec. 7811(j)(4), Dec. 19, 1989, 103 Stat. 2411; Pub. L. 101-508, title XI, Sec. 11703(c)(1), (2), 11704(a)(17), (36), Nov. 5, 1990, 104 Stat. 1388-517, 1388-519; Pub. L. 107-16, title V, Sec. 562, 563, 564, June 7, 2001, 115 Stat. 38.)
BACKGROUND NOTES
AMENDMENTS
2001 - Subsec. (a)(3). Pub. L. 107-16, Sec. 562(a), added par. (3).
Subsec. (b)(1). Pub. L. 107-16, Sec. 563(a), amended par. (1). Before amendment it read as follows:
“(1) Gifts for which gift tax return filed or deemed allocation made
“If the allocation of the GST exemption to any property is made on a gift tax return filed on or before the date prescribed by section 6075(b) or is deemed to be made under section 2632(b)(1)--
“(A) the value of such property for purposes of subsection (a) shall be its value for purposes of chapter 12, and
“(B) such allocation shall be effective on and after the date of such transfer.”
Subsec. (b)(2)(A). Pub. L. 107-16, Sec. 563(b), amended subpar. (A). Before amendment it read as follows:
“(A) Transfers at death
Subsec. (g). Pub. L. 107-16, Sec. 564(a), added subsec. (g).
1990 - Subsec. (b)(3). Pub. L. 101-508, Sec. 11704(a)(36), amended Pub. L. 100-647, Sec. 1014(g)(4)(F)(ii). See 1988 Amendment note below.
Subsec. (c)(2). Pub. L. 101-508, Sec. 11703(c)(2), inserted at end: ‘Rules similar to the rules of section 2652(c)(3) shall apply for purposes of subparagraph (A).’
Subsec. (c)(2)(B). Pub. L. 101-508, Sec. 11703(c)(1), substituted ‘the trust does not terminate before the individual dies’ for ‘such individual dies before the trust is terminated’.
Subsec. (d)(2)(B)(i)(I). Pub. L. 101-508, Sec. 11704(a)(17), substituted ‘State’ for ‘state’.
1989 - Subsec. (b)(1), (3). Pub. L. 101-239 substituted ‘a gift tax return filed on or before the date prescribed by section 6075(b)’ for ‘a timely filed gift tax return required by section 6019’ in introductory provisions.
1988 - Subsec. (a)(2). Pub. L. 100-647, Sec. 1014(g)(4)(B), struck out at end ‘Except as provided in paragraphs (3) and (4) of subsection (b), the value determined under subparagraph (B)(i) shall be of the property as of the time of the transfer to the trust (or the direct skip).’
Subsec. (b). Pub. L. 100-647, Sec. 1014(g)(4)(D), inserted ‘Except as provided in subsection (f) - ‘ as introductory provision.
Subsec. (b)(2)(A). Pub. L. 100-647, Sec. 1014(g)(4)(C), inserted before period at end ‘; except that, if the requirements prescribed by the Secretary respecting allocation of post-death changes in value are not met, the value of such property shall be determined as of the time of the distribution concerned.’
Subsec. (b)(2)(B). Pub. L. 100-647, Sec. 1014(g)(4)(E), substituted ‘to property transferred at death’ for ‘at or after death’ in heading and ‘to property transferred as a result of the death of the transferor’ for ‘at or after the death of the transferor’ in text.
Subsec. (b)(3). Pub. L. 100-647, Sec. 1014(g)(4)(F)(ii), as amended by Pub. L. 101-508, Sec. 11704(a)(36), substituted ‘Allocations to inter vivos transfers’ for ‘Inter vivos allocations’ in heading.
Pub. L. 100-647, Sec. 1014(g)(4)(F)(i), substituted ‘to any property not transferred as a result of the death of the transferor is’ for ‘to any property is made during the life of the transferor but is’.
Subsec. (c). Pub. L. 100-647, Sec. 1014(g)(17)(A), inserted ‘direct skips which are’ in heading and amended text generally. Prior to amendment, text read as follows:
‘(1) Direct skips. - In the case of any direct skip which is a nontaxable gift, the inclusion ratio shall be zero.
‘(2) Treatment of nontaxable gifts made to trusts. -
‘(A) In general. - Except as provided in subparagraph (B), any nontaxable gift which is not a direct skip and which is made to a trust shall not be taken into account under subsection (a)(2)(B).
‘(B) Determination of 1st transfer to trust. - In the case of any nontaxable gift referred to in subparagraph (A) which is the 1st transfer to the trust, the inclusion ratio for such trust shall be zero.
‘(3) Nontaxable gift. - For purposes of this section, the term ‘nontaxable gift’ means any transfer of property to the extent such transfer is not treated as a taxable gift by reason of -
‘(A) section 2503(b) (taking into account the application of section 2513), or
‘(B) section 2503(e).’
Subsec. (d)(1). Pub. L. 100-647, Sec. 1014(g)(17)(B), struck out ‘(other than a nontaxable gift)’ after ‘transfer of property’.
Subsec. (d)(2)(B)(i). Pub. L. 100-647, Sec. 1014(g)(18), amended cl. (i) generally. Prior to amendment, cl. (i) read as follows: ‘the value of the property involved in such transfer, reduced by any charitable deduction allowed under section 2055 or 2522 with respect to such property, and’.
Subsec. (e). Pub. L. 100-647, Sec. 1014(g)(3)(A), added subsec. (e).
Subsec. (f). Pub. L. 100-647, Sec. 1014(g)(4)(A), added subsec. (f).
EFFECTIVE DATE OF 2001 AMENDMENTS
Section 562(b) of Pub. L. 107-16 provided that: “The amendment made by this section shall apply to severances after December 31, 2000.”
Section 563(c) of Pub. L. 107-16 provided that: “The amendments made by this section shall apply to transfers subject to chapter 11 or 12 of the Internal Revenue Code of 1986 made after December 31, 2000.”
Section 564(b) of Pub. L. 107-16 provided that:
“(1) RELIEF FROM LATE ELECTIONS.--Section 2642(g)(1) of the Internal Revenue Code of 1986 (as added by subsection (a)) shall apply to requests pending on, or filed after, December 31, 2000.
“(2) SUBSTANTIAL COMPLIANCE.--Section 2642(g)(2) of such Code (as so added) shall apply to transfers subject to chapter 11 or 12 of the Internal Revenue Code of 1986 made after December 31, 2000. No implication is intended with respect to the availability of relief from late elections or the application of a rule of substantial compliance on or before such date.”
Section 901 (Sunset of Provisions of Act) of Pub. L. 107-16, as amended by Pub. L. 107-358 and Pub. L. 111-312, Sec. 101(a), and struck by Pub. L. 112-240, Sec. 101(a)(1) (effective for taxable, plan, or limitation years beginning after Dec. 31, 2012, and estates of decedents dying, gifts made, or generation skipping transfers after Dec. 31, 2012), provided that:
“(a) IN GENERAL.--All provisions of, and amendments made by, this Act shall not apply--
“(1) to taxable, plan, or limitation years beginning after December 31, 2012, or
“(2) in the case of title V, to estates of decedents dying, gifts made, or generation skipping transfers, after December 31, 2012.
“(b) APPLICATION OF CERTAIN LAWS.--The Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 shall be applied and administered to years, estates, gifts, and transfers described in subsection (a) as if the provisions and amendments described in subsection (a) had never been enacted.
“(c) EXCEPTION.-Subsection (a) shall not apply to section 803 (relating to no federal income tax on restitution received by victims of the Nazi regime or their heirs or estates).”
EFFECTIVE DATE OF 1990 AMENDMENT
Section 11703(c)(4) of Pub. L. 101-508 provided that: ‘The amendments made by paragraphs (1) and (2) (amending this section) shall apply to transfers after March 31, 1988.’
EFFECTIVE DATE OF 1989 AMENDMENT
Amendment by Pub. L. 101-239 effective, except as otherwise provided, as if included in the provision of the Technical and Miscellaneous Revenue Act of 1988, Pub. L. 100-647, to which such amendment relates, see section 7817 of Pub. L. 101-239, set out as a note under section 1 of this title.
EFFECTIVE DATE OF 1988 AMENDMENT
Section 1014(g)(3)(B) of Pub. L. 100-647 provided that: ‘The amendment made by subparagraph (A) (amending this section) shall apply for purposes of determining the inclusion ratio with respect to property transferred after October 13, 1987.’
Section 1014(g)(17)(C) of Pub. L. 100-647 provided that: ‘The amendments made by this paragraph (amending this section) shall apply to transfers after March 31, 1988.’
Amendment by section 1014(g)(4), (18) of Pub. L. 100-647 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99-514, to which such amendment relates, see section 1019(a) of Pub. L. 100-647, set out as a note under section 1 of this title.
EFFECTIVE DATE
Section applicable to generation-skipping transfers (within the meaning of section 2611 of this title) made after Oct. 22, 1986, except as otherwise provided, see section 1433 of Pub. L. 99-514, set out as a note under section 2601 of this title.
REINSTATEMENT OF ESTATE TAX; REPEAL OF CARRYOVER BASIS
Section 301 of Pub. L. 111-312 provided:
“(a) IN GENERAL.—Each provision of law amended by subtitle A or E of title V of the Economic Growth and Tax Relief Reconciliation Act of 2001 is amended to read as such provision would read if such subtitle had never been enacted.
“(b) CONFORMING AMENDMENT.—On and after January 1, 2011, paragraph (1) of section 2505(a) of the Internal Revenue Code of 1986 is amended to read as such paragraph would read if section 521(b)(2) of the Economic Growth and Tax Relief Reconciliation Act of 2001 had never been enacted.
“(c) SPECIAL ELECTION WITH RESPECT TO ESTATES OF DECEDENTS DYING IN 2010.—Notwithstanding subsection (a), in the case of an estate of a decedent dying after December 31, 2009, and before January 1, 2011, the executor (within the meaning of section 2203 of the Internal Revenue Code of 1986) may elect to apply such Code as though the amendments made by subsection (a) do not apply with respect to chapter 11 of such Code and with respect to property acquired or passing from such decedent (within the meaning of section 1014(b) of such Code). Such election shall be made at such time and in such manner as the Secretary of the Treasury or the Secretary's delegate shall provide. Such an election once made shall be revocable only with the consent of the Secretary of the Treasury or the Secretary's delegate. For purposes of section 2652(a)(1) of such Code, the determination of whether any property is subject to the tax imposed by such chapter 11 shall be made without regard to any election made under this subsection.
“(d) EXTENSION OF TIME FOR PERFORMING CERTAIN ACTS.—
“ (1) ESTATE TAX.—In the case of the estate of a decedent dying after December 31, 2009, and before the date of the enactment of this Act, the due date for—
“(A) filing any return under section 6018 of the Internal Revenue Code of 1986 (including any election required to be made on such a return) as such section is in effect after the date of the enactment of this Act without regard to any election under subsection (c),
“(B) making any payment of tax under chapter 11 of such Code, and
“(C) making any disclaimer described in section 2518(b) of such Code of an interest in property passing by reason of the death of such decedent, shall not be earlier than the date which is 9 months after the date of the enactment of this Act.
“(2) GENERATION-SKIPPING TAX.—In the case of any generation-skipping transfer made after December 31, 2009, and before the date of the enactment of this Act, the due date for filing any return under section 2662 of the Internal Revenue Codeof 1986 (including any election required to be made on such a return) shall not be earlier than the date which is 9 months after the date of the enactment of this Act.
“(e) EFFECTIVE DATE.—Except as otherwise provided in this section, the amendments made by this section shall apply to estates of decedents dying, and transfers made, after December 31, 2009.”
TERMINATION
Section 501(b) (Generation-Skipping Transfer Tax Repeal) of Pub. L. 107-16 added Code Sec. 2664, which states that chapter 13 of subtitle B shall not apply to generation-skipping transfers after December 31, 2009.
Note, however, that Section 901 (Sunset of Provisions of Act) of Pub. L. 107-16, as amended by Pub. L. 107-358 and Pub. L. 111-312, and struck by Pub. L. 112-240, Sec. 101(a)(1) (effective for taxable, plan, or limitation years beginning after Dec. 31, 2012, and estates of decedents dying, gifts made, or generation skipping transfers after Dec. 31, 2012), provided that:
“(a) IN GENERAL.--All provisions of, and amendments made by, this Act shall not apply--
“(1) to taxable, plan, or limitation years beginning after December 31, 2012, or
“(2) in the case of title V, to estates of decedents dying, gifts made, or generation skipping transfers, after December 31, 2012.
“(b) APPLICATION OF CERTAIN LAWS.--The Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 shall be applied and administered to years, estates, gifts, and transfers described in subsection (a) as if the provisions and amendments described in subsection (a) had never been enacted.
“(c) EXCEPTION.-Subsection (a) shall not apply to section 803 (relating to no federal income tax on restitution received by victims of the Nazi regime or their heirs or estates).”