26 U.S.C. § 2661 — Administration

Page 2668 TITLE 26—INTERNAL REVENUE CODE § 2661 the Tax Reform Act of 1986, Pub. L. 99–514, to which such amendment relates, see section 1019(a) of Pub. L. 100–647, set out as a note under section 1 of this title. EFFECTIVE DATE Section applicable to generation-skipping transfers (within the meaning of section 2611 of this title) made after Oct. 22, 1986, except as otherwise provided, see sec- tion 1433 of Pub. L. 99–514, set out as a note under sec- tion 2601 of this title. Subchapter G—Administration Sec. 2661. Administration. 2662. Return requirements. 2663. Regulations. [2664. Repealed.] Editorial Notes AMENDMENTS 2010—Pub. L. 111–312, title III, § 301(a), Dec. 17, 2010, 124 Stat. 3300, amended analysis to read as if amend- ment by Pub. L. 107–16, § 501(c)(2), had never been en- acted. See 2001 Amendment note below. 2001—Pub. L. 107–16, title V, § 501(c)(2), June 7, 2001, 115 Stat. 69, added item 2664 ‘‘Termination’’. § 2661. Administration Insofar as applicable and not inconsistent with the provisions of this chapter— (1) except as provided in paragraph (2), all provisions of subtitle F (including penalties) applicable to the gift tax, to chapter 12, or to section 2501, are hereby made applicable in re- spect of the generation-skipping transfer tax, this chapter, or section 2601, as the case may be, and (2) in the case of a generation-skipping transfer occurring at the same time as and as a result of the death of an individual, all pro- visions of subtitle F (including penalties) ap- plicable to the estate tax, to chapter 11, or to section 2001 are hereby made applicable in re- spect of the generation-skipping transfer tax, this chapter, or section 2601 (as the case may be). (Added Pub. L. 99–514, title XIV, § 1431(a), Oct. 22, 1986, 100 Stat. 2728.) Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section applicable to generation-skipping transfers (within the meaning of section 2611 of this title) made after Oct. 22, 1986, except as otherwise provided, see sec- tion 1433 of Pub. L. 99–514, set out as a note under sec- tion 2601 of this title. § 2662. Return requirements (a) In general The Secretary shall prescribe by regulations the person who is required to make the return with respect to the tax imposed by this chapter and the time by which any such return must be filed. To the extent practicable, such regula- tions shall provide that— (1) the person who is required to make such return shall be the person liable under section 2603(a) for payment of such tax, and (2) the return shall be filed— (A) in the case of a direct skip (other than from a trust), on or before the date on which an estate or gift tax return is required to be filed with respect to the transfer, and (B) in all other cases, on or before the 15th day of the 4th month after the close of the taxable year of the person required to make such return in which such transfer occurs. (b) Information returns The Secretary may by regulations require a return to be filed containing such information as he determines to be necessary for purposes of this chapter. (Added Pub. L. 99–514, title XIV, § 1431(a), Oct. 22, 1986, 100 Stat. 2728.) Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section applicable to generation-skipping transfers (within the meaning of section 2611 of this title) made after Oct. 22, 1986, except as otherwise provided, see sec- tion 1433 of Pub. L. 99–514, set out as a note under sec- tion 2601 of this title. EXTENSION OF TIME FOR FILING RETURN Pub. L. 111–312, title III, § 301(d)(2), Dec. 17, 2010, 124 Stat. 3300, provided that: ‘‘In the case of any genera- tion-skipping transfer made after December 31, 2009, and before the date of the enactment of this Act [Dec. 17, 2010], the due date for filing any return under sec- tion 2662 of the Internal Revenue Code of 1986 (includ- ing any election required to be made on such a return) shall not be earlier than the date which is 9 months after the date of the enactment of this Act.’’ § 2663. Regulations The Secretary shall prescribe such regulations as may be necessary or appropriate to carry out the purposes of this chapter, including— (1) such regulations as may be necessary to coordinate the provisions of this chapter with the recapture tax imposed under section 2032A(c), (2) regulations (consistent with the prin- ciples of chapters 11 and 12) providing for the application of this chapter in the case of transferors who are nonresidents not citizens of the United States, and (3) regulations providing for such adjust- ments as may be necessary to the application of this chapter in the case of any arrangement which, although not a trust, is treated as a trust under section 2652(b). (Added Pub. L. 99–514, title XIV, § 1431(a), Oct. 22, 1986, 100 Stat. 2729; amended Pub. L. 100–647, title I, § 1014(g)(10), Nov. 10, 1988, 102 Stat. 3565.) Editorial Notes AMENDMENTS 1988—Par. (3). Pub. L. 100–647 added par. (3). Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1988 AMENDMENT Amendment by Pub. L. 100–647 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99–514, to which such amendment relates, see section 1019(a) of Pub. L. 100–647, set out as a note under section 1 of this title. EFFECTIVE DATE Section applicable to generation-skipping transfers (within the meaning of section 2611 of this title) made