CHAPTER 1— NORMAL TAXES AND SURTAXES›Subchapter J— Estates, Trusts, Beneficiaries, and Decedents›PART I— ESTATES, TRUSTS, AND BENEFICIARIES›Subpart F— Miscellaneous

§ 683. Use of trust as an exchange fund

26 U.S.C. Subtitle A — Income Taxes (Internal Revenue Code) · 2026 edition · updated 2026-10-03 · United States

(a) General rule

Except as provided in subsection (b), if property is transferred to a trust in exchange for an interest in other trust property and if the trust would be an investment company (within the meaning of section 351) if it were a corporation, then gain shall be recognized to the transferor.

(b) Exception for pooled income funds

Subsection (a) shall not apply to any transfer to a pooled income fund (within the meaning of section 642(c)(5)).

(Aug. 16, 1954, ch. 736, 68A Stat. 235; Pub. L. 94–455, title XXI, § 2131(e)(1), Oct. 4, 1976, 90 Stat. 1924.)

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▸Contents — 26 U.S.C. Subtitle A — Income Taxes (Internal Revenue Code)

26 U.S.C. Subtitle A — Income Taxes (Internal Revenue Code)

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