§2105 — Property without the United States
13 cases·2 followed·11 cited—15% support
Statute Text — 26 U.S.C. §2105
For purposes of this subchapter, the amount receivable as insurance on the life of a nonresident not a citizen of the United States shall not be deemed property within the United States.
For purposes of this subchapter, the following shall not be deemed property within the United States—
amounts described in section 871(i)(3), if any interest thereon would not be subject to tax by reason of section 871(i)(1) were such interest received by the decedent at the time of his death,
deposits with a foreign branch of a domestic corporation or domestic partnership, if such branch is engaged in the commercial banking business,
debt obligations, if, without regard to whether a statement meeting the requirements of section 871(h)(5) has been received, any interest thereon would be eligible for the exemption from tax under section 871(h)(1) were such interest received by the decedent at the time of his death, and
obligations which would be original issue discount obligations as defined in section 871(g)(1) but for subparagraph (B)(i) thereof, if any interest thereon (were such interest received by the decedent at the time of his death) would not be effectively connected with the conduct of a trade or business within the United States.
Notwithstanding the preceding sentence, if any portion of the interest on an obligation referred to in paragraph (3) would not be eligible for the exemption referred to in paragraph (3) by reason of section 871(h)(4) if the interest were received by the decedent at the time of his death, then an appropriate portion (as determined in a manner prescribed by the Secretary) of the value (as determined for purposes of this chapter) of such debt obligation shall be deemed property within the United States.
For purposes of this subchapter, works of art owned by a nonresident not a citizen of the United States shall not be deemed property within the United States if such works of art are—
imported into the United States solely for exhibition purposes,
loaned for such purposes, to a public gallery or museum, no part of the net earnings of which inures to the benefit of any private stockholder or individual, and
at the time of the death of the owner, on exhibition, or en route to or from exhibition, in such a public gallery or museum.
For purposes of this subchapter, stock in a regulated investment company (as defined in section 851) owned by a nonresident not a citizen of the United States shall not be deemed property within the United States in the proportion that, at the end of the quarter of such investment company’s taxable year immediately preceding a decedent’s date of death (or at such other time as the Secretary may designate in regulations), the assets of the investment company that were qualifying assets with respect to the decedent bore to the total assets of the investment company.
For purposes of this subsection, qualifying assets with respect to a decedent are assets that, if owned directly by the decedent, would have been—
amounts, deposits, or debt obligations described in subsection (b) of this section,
debt obligations described in the last sentence of section 2104(c), or
other property not within the United States.
This subsection shall not apply to estates of decedents dying after December 31, 2011.
Treasury Regulations
- Treas. Reg. §Treas. Reg. §20.2105-1 Estates of nonresidents not citizens; property without the United States
- Treas. Reg. §Treas. Reg. §20.2105-1(a) §20.2105-1(a)
- Treas. Reg. §Treas. Reg. §20.2105-1(b) §20.2105-1(b)
- Treas. Reg. §Treas. Reg. §20.2105-1(c) In the case of an estate of a decedent dying before November 14, 1966, written evidence of intangible personal property which is treated as being the property itself, such as a bond for the payment of money, if it is not physically located in the United States.
- Treas. Reg. §Treas. Reg. §20.2105-1(d) Obligations of the United States issued before March 1, 1941, even though physically located in the United States, if the decedent was not engaged in business in the United States at the time of his death.
- Treas. Reg. §Treas. Reg. §20.2105-1(e) Except as specifically provided otherwise in this section or in § 20.
- Treas. Reg. §Treas. Reg. §20.2105-1(f) Shares of stock issued by a corporation which is not a domestic corporation, regardless of the location of the certificates.
- Treas. Reg. §Treas. Reg. §20.2105-1(g) Amounts receivable as insurance on the decedent's life.
- Treas. Reg. §Treas. Reg. §20.2105-1(h) In the case of an estate of a decedent dying before November 14, 1966, moneys deposited in the United States by or for the decedent with any person carrying on the banking business, if the decedent was not engaged in business in the United States at the time of his death.
- Treas. Reg. §Treas. Reg. §20.2105-1(i) In the case of an estate of a decedent dying on or after November 14, 1966, and before January 1, 1976, any amount deposited in the United States which is described in section 861(c) (relating to certain bank deposits, withdrawable accounts, and amounts held by an insurance company under an agreement to pay interest), if any interest thereon, were such interest received by the decedent at the time of his death, would be treated under section 862(a)(1) as income from sources without the United St
- Treas. Reg. §Treas. Reg. §20.2105-1(j) In the case of an estate of a decedent dying on or after November 14, 1966, deposits with a branch outside of the United States of a domestic corporation or domestic partnership, if the branch is engaged in the commercial banking business.
- Treas. Reg. §Treas. Reg. §20.2105-1(k) In the case of an estate of a decedent dying on or after November 14, 1966, except as specifically provided otherwise in paragraph (a)(8) of § 20.
- Treas. Reg. §Treas. Reg. §20.2105-1(l) In the case of an estate of a decedent dying on or after November 14, 1966, any debt obligation to the extent that the primary obligor on the debt obligation is a domestic corporation, if any interest thereon, were the interest received from such obligor by the decedent at the time of his death, would be treated under section 862(a)(1) as income from sources without the United States by reason of section 861(a)(1)(B) (relating to interest received from a domestic corporation less than 20 percent
- Treas. Reg. §Treas. Reg. §20.2105-1(m) §20.2105-1(m)
13 Citing Cases
Section 2105 of that title defines as an “employee” anyone who is an “officer,” plus an individual who is-- - 4 - (1) appointed in the civil service by one of the following acting in an official capacity-- (A) the President; (B) a Member or Members of Congress, or the Congress; (C) a member of a uniformed service; (D) an individual who is an emplo
Section 2105 of that title defines as an "employee" anyone who is an "officer," plus an individual who is-- - 4 - (1) appointed in the civil service by one of the following acting in an official capacity-- (A) the President; (B) a Member or Members of Congress, or the Congress; (C) a member of a uniformed service; (D) an individual who is an emplo
Standard Form 279, Federal Procurement Data System (FPDS) Individual Action Report, states that the contractor is a small, woman-owned business. The State Department and/or petitioner had the right to terminate the personal service contracts without cause at any time with 30 days’ notice. The State Department could also terminate the per
ike corpo- rate officers.24 See 2 Fletcher Cyclopedia of Corporations, sec. 24 In the case of certain debt (e.g., "bonded indebtedness"), a stockholder vote or approval is required under certain State laws. See 5 Fletcher Cyclopedia of Corporations, sec. 2105 (perm. ed. 1996 rev.). - 82 - 473 (perm. ed. 1990 rev.). Once a company's board of directors (or its delegates) has exercised its power to incur debt, any fixed payments of principal and interest on that debt that are set forth in the debt
ry because they were to be declared and paid “to the extent permitted by law.” In the case of certain debt (e.g., “bonded indebtedness”), a stockholder vote or approval is required under certain State laws. See 5 Fletcher Cyclopedia of Corporations, sec. 2105 (perm, ed. 1996 rev.). The parties agree that the mandatory dividend provision also gave the Alumax class B common stock a preferential right to receive 80 percent of the dividends that the Alumax board was required to declare and pay to al