26 USC 678 - Person other than grantor treated as substantial owner

U.S Code last checked for updates: Jan 18, 2025

§ 678.

Person other than grantor treated as substantial owner

(a)

General rule

A person other than the grantor shall be treated as the owner of any portion of a trust with respect to which:

(1)

such person has a power exercisable solely by himself to vest the corpus or the income therefrom in himself, or

(2)

such person has previously partially released or otherwise modified such a power and after the release or modification retains such control as would, within the principles of sections 671 to 677, inclusive, subject a grantor of a trust to treatment as the owner thereof.

(b)

Exception where grantor is taxable

(c)

Obligations of support

(d)

Effect of renunciation or disclaimer

(e)

Cross reference

(Aug. 16, 1954, ch. 736, 68A Stat. 231; Pub. L. 94–455, title X, § 1013(b), Oct. 4, 1976, 90 Stat. 1615; Pub. L. 97–448, title I, § 102(i)(2), Jan. 12, 1983, 96 Stat. 2373; Pub. L. 106–554, § 1(a)(7) [title III, § 319(8)(A)], Dec. 21, 2000, 114 Stat. 2763, 2763A–646.)

cite as: 26 USC 678