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§645 — Certain revocable trusts treated as part of estate

2 cases·2 cited

Statute Text — 26 U.S.C. §645

(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.

Treasury Regulations

  • Treas. Reg. §Treas. Reg. §1.645-1 Election by certain revocable trusts to be treated as part of estate
  • Treas. Reg. §Treas. Reg. §1.645-1(a) In general.
  • Treas. Reg. §Treas. Reg. §1.645-1(b) Definitions.
  • Treas. Reg. §Treas. Reg. §1.645-1(c) The election—(1) Filing the election if there is an executor—(i) Time and manner for filing the election.
  • Treas. Reg. §Treas. Reg. §1.645-1(d) TIN and filing requirements for a QRT—(1) Obtaining a TIN.
  • Treas. Reg. §Treas. Reg. §1.645-1(e) Tax treatment and general filing requirements of electing trust and related estate during the election period—(1) Effect of election.
  • Treas. Reg. §Treas. Reg. §1.645-1(f) Duration of election period—(1) In general.
  • Treas. Reg. §Treas. Reg. §1.645-1(g) Executor appointed after the section 645 election is made—(1) Effect on the election.
  • Treas. Reg. §Treas. Reg. §1.645-1(h) Treatment of an electing trust and related estate following termination of the election—(1) The share (or shares) comprising the electing trust is deemed to be distributed upon termination of the election period.
  • Treas. Reg. §Treas. Reg. §1.645-1(i) §1.645-1(i)
  • Treas. Reg. §Treas. Reg. §1.645-1(j) Effective date.

2 Citing Cases

Green v. United States 880 F.3d 519 · Cir.
Pitman Farms v. Kuehl Poultry, LLC 48 F.4th 866 · Cir.