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Internal Revenue Code, § 2652. Other Definitions

I.R.C. § 2652(a) Transferor
For purposes of this chapter—
I.R.C. § 2652(a)(1) In General
Except as provided in this subsection or section 2653(a), the term “transferor” means—
I.R.C. § 2652(a)(1)(A)
in the case of any property subject to the tax imposed by chapter 11, the decedent, and
I.R.C. § 2652(a)(1)(B)
in the case of any property subject to the tax imposed by chapter 12, the donor.
An individual shall be treated as transferring any property with respect to which such individual is the transferor.
I.R.C. § 2652(a)(2) Gift-Splitting By Married Couples
If, under section 2513, one-half of a gift is treated as made by an individual and one-half of such gift is treated as made by the spouse of such individual, such gift shall be so treated for purposes of this chapter.
I.R.C. § 2652(a)(3) Special Election For Qualified Terminable Interest Property
In the case of—
I.R.C. § 2652(a)(3)(A)
any trust with respect to which a deduction is allowed to the decedent under section 2056 by reason of subsection (b)(7) thereof, and
I.R.C. § 2652(a)(3)(B)
any trust with respect to which a deduction to the donor spouse is allowed under section 2523 by reason of subsection (f) thereof,
the estate of the decedent or the donor spouse, as the case may be, may elect to treat all of the property in such trust for purposes of this chapter as if the election to be treated as qualified terminable interest property had not been made.
I.R.C. § 2652(b) Trust And Trustee
I.R.C. § 2652(b)(1) Trust
The term “trust” includes any arrangement (other than an estate) which, although not a trust, has substantially the same effect as a trust.
I.R.C. § 2652(b)(2) Trustee
In the case of an arrangement which is not a trust but which is treated as a trust under this subsection, the term “trustee" shall mean the person in actual or constructive possession of the property subject to such arrangement.
I.R.C. § 2652(b)(3) Examples
Arrangements to which this subsection applies include arrangements involving life estates and remainders, estates for years, and insurance and annuity contracts.
I.R.C. § 2652(c) Interest
I.R.C. § 2652(c)(1) In General
A person has an interest in property held in trust if (at the time the determination is made) such person—
I.R.C. § 2652(c)(1)(A)
has a right (other than a future right) to receive income or corpus from the trust,
I.R.C. § 2652(c)(1)(B)
is a permissible current recipient of income or corpus from the trust and is not described in section 2055(a), or
I.R.C. § 2652(c)(1)(C)
is described in section 2055(a) and the trust is—
I.R.C. § 2652(c)(1)(C)(i)
a charitable remainder annuity trust,
I.R.C. § 2652(c)(1)(C)(ii)
a charitable remainder unitrust within the meaning of section 664, or
I.R.C. § 2652(c)(1)(C)(iii)
a pooled income fund within the meaning of section 642(c)(5).
I.R.C. § 2652(c)(2) Certain Interests Disregarded
For purposes of paragraph (1), an interest which is used primarily to postpone or avoid any tax imposed by this chapter shall be disregarded.
I.R.C. § 2652(c)(3) Certain Support Obligations Disregarded
The fact that income or corpus of the trust may be used to satisfy an obligation of support arising under State law shall be disregarded in determining whether a person has an interest in the trust, if—
I.R.C. § 2652(c)(3)(A)
such use is discretionary, or
I.R.C. § 2652(c)(3)(B)
such use is pursuant to the provisions of any State law substantially equivalent to the Uniform Gifts to Minors Act.
I.R.C. § 2652(d) Executor
For purposes of this chapter, the term “executor” has the meaning given such term by section 2203.
(Added by Pub. L. 99-514, title XIV, 1431(a), Oct. 22, 1986, 100 Stat. 2726, and amended Pub. L. 100-647, title I, 1014(g)(6), (8), (9), (14), (20), Nov. 10, 1988, 102 Stat. 3565-3567; Pub. L. 105-34, title XIII, Sec. 1305(b), Aug. 5, 1997, 111 Stat 788; Pub. L. 105-206, title VI, Sec. 6013, July 22, 1998, 112 Stat 685.)
BACKGROUND NOTES
AMENDMENTS
1998--Subsec. (b)(1). Pub. L. 105-206, Sec. 6013(a)(3), amended par. (1) by substituting “section 645” for “section 646”.
Subsec. (b)(1). Pub. L. 105-206, Sec. 6013(a)(4)(A), amended par. (1) by striking the second sentence. Prior to being striken, it read as follows: “Such term shall not include any trust during any period the trust is treated as part of an estate under section 645.”
1997--Subsec. (b)(1). Pub. L. 105-34, Sec. 1305(b), amended par. (1) by adding a sentence at the end.
1988--Subsec. (a)(1). Pub. L. 100-647, 1014(g)(9), substituted “any property” for “a transfer of a kind” in subpars. (A) and (B) and inserted at end “An individual shall be treated as transferring any property with respect to which such individual is the transferor.”
Subsec. (a)(3). Pub. L. 100-647, 1014(g)(14), substituted “any trust" for “any property” in subpars. (A) and (B) and “may elect to treat all of the property in such trust” for “may elect to treat such property" in closing provisions.
Subsec. (c)(2). Pub. L. 100-647, 1014(g)(8), struck out “nominal” before “interests” in heading and substituted “any tax” for “the tax” in text.
Subsec. (c)(3). Pub. L. 100-647, 1014(g)(6), added par. (3).
Subsec. (d). Pub. L. 100-647, 1014(g)(20), added subsec. (d).
EFFECTIVE DATE OF 1998 AMENDMENTS
Amendments by Sec. 6013(a) of Pub. L. 105-206 applicable as if included in the provisions of the Taxpayer Relief Act of 1997 to which they relate [Effective Date of Pub. L. 105-34, Sec. 1305: estates of decedents dying after Aug. 5, 1997].
EFFECTIVE DATE OF 1997 AMENDMENTS
Amendment by Sec. 1305(d) of Pub. L. 105-34 applicable with respect to estates of decedents dying after the date of the enactment of this Act [Aug. 5, 1997].
EFFECTIVE DATE OF 1988 AMENDMENT
Amendment by 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 Code of 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).”