§ 1.679-7. Effective dates.
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/us/cfr/t26/s§ 1.679-7·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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]
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§ 1.679-7
Effective dates.
Treas. Dec.T.D. 8955
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