26 U.S.C. § 2613
§ 2613. Skip person and non-skip person defined
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
History
Added in 1976 by the Tax Reform Act of 1976. Last changed November 10, 1988 by the Technical and Miscellaneous Revenue Act of 1988.
Every change, newest first (5)
- November 10, 1988Technical and Miscellaneous Revenue Act of 1988
- October 22, 1986Tax Reform Act of 1986
- April 1, 1980Public Law 96-222
- November 6, 1978Revenue Act of 1978
- October 4, 1976Tax Reform Act of 1976 · added this section
The law as written
Current through Public Law 119-102. Amendment notes omitted.
Structure
For purposes of this chapter, the term “skip person” means—
a natural person assigned to a generation which is 2 or more generations below the generation assignment of the transferor, or
a trust—
if all interests in such trust are held by skip persons, or
if—
there is no person holding an interest in such trust, and
at no time after such transfer may a distribution (including distributions on termination) be made from such trust to a nonskip person.
For purposes of this chapter, the term “non-skip person” means any person who is not a skip person.