26 C.F.R. § 1.679-7 Effective dates.
Title 26 - Internal Revenue
(a) In general. Except as provided in paragraph (b) of this section, the rules of §§1.679–1, 1.679–2, 1.679–3, and 1.679–4 apply with respect to transfers after August 7, 2000. (b) Special rules. (1) The rules of §1.679–4(c) and (d) apply to an obligation issued after February 6, 1995, whether or not in accordance with a pre-existing arrangement or understanding. For purposes of the rules of §1.679–4(c) and (d), if an obligation issued on or before February 6, 1995, is modified after that date, and the modification is a significant modification within the meaning of §1.1001–3, the obligation is treated as if it were issued on the date of the modification. However, the penalty provided in section 6677 applies only to a failure to report transfers in exchange for obligations issued after August 20, 1996. (2) The rules of §1.679–5 apply to persons whose residency starting date is after August 7, 2000. (3) The rules of §1.679–6 apply to trusts that become foreign trusts after August 7, 2000. [T.D. 8955, 66 FR 37889, July 20, 2001]
Title 26: Internal Revenue
PART 1—INCOME TAXES
grantors and others treated as substantial owners
§ 1.679-7 Effective dates.
