Internal Revenue Code:Sec. 645. Certain revocable trusts treated as part of estate

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Location in Internal Revenue Code

     TITLE 26 - INTERNAL REVENUE CODE
      Subtitle A - Income Taxes
       CHAPTER 1 - NORMAL TAXES AND SURTAXES
        Subchapter J - Estates, Trusts, Beneficiaries, and Decedents
         PART I - ESTATES, TRUSTS, AND BENEFICIARIES
          Subpart A - General Rules for Taxation of Estates and Trusts
        

Statute

    Sec. 645. Certain revocable trusts treated as part of estate
 
    (a) General rule
      For purposes of this subtitle, if both the executor (if any) of
    an estate and the trustee of a qualified revocable trust elect the
    treatment provided in this section, such trust shall be treated and
    taxed as part of such estate (and not as a separate trust) for all
    taxable years of the estate ending after the date of the decedent's
    death and before the applicable date.
    (b) Definitions
      For purposes of subsection (a) -
      (1) Qualified revocable trust
        The term ''qualified revocable trust'' means any trust (or
      portion thereof) which was treated under section 676 as owned by
      the decedent of the estate referred to in subsection (a) by
      reason of a power in the grantor (determined without regard to
      section 672(e)).
      (2) Applicable date
        The term ''applicable date'' means -
          (A) if no return of tax imposed by chapter 11 is required to
        be filed, the date which is 2 years after the date of the
        decedent's death, and
          (B) if such a return is required to be filed, the date which
        is 6 months after the date of the final determination of the
        liability for tax imposed by chapter 11.
    (c) Election
      The election under subsection (a) shall be made not later than
    the time prescribed for filing the return of tax imposed by this
    chapter for the first taxable year of the estate (determined with
    regard to extensions) and, once made, shall be irrevocable.
 

Sources

    (Added Pub. L. 105-34, title XIII, Sec. 1305(a), Aug. 5, 1997, 111
    Stat. 1040, Sec. 646; renumbered Sec. 645, Pub. L. 105-206, title
    VI, Sec. 6013(a)(1), July 22, 1998, 112 Stat. 819.)
 

Miscellaneous

                              PRIOR PROVISIONS
      A prior section 645 was renumbered section 644 of this title.
                                 AMENDMENTS
      1998 - Pub. L. 105-206 renumbered section 646 of this title as
    this section.
                               EFFECTIVE DATE
      Section 1305(d) of Pub. L. 105-34 provided that: ''The amendments
    made by this section (enacting this section and amending section
    2652 of this title) shall apply with respect to estates of
    decedents dying after the date of the enactment of this Act (Aug.
    5, 1997).''
 

References

                   SECTION REFERRED TO IN OTHER SECTIONS
      This section is referred to in sections 121, 1022, 2654, 7491 of
    this title.