Current through Pub. L. 119-100Open in workspace

§ 683 Use of trust as an exchange fund

(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 ) 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 ).

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

Operative text only. Editorial notes, amendment history, and effective dates: official OLRC text of § 683

Source: decipher.legal/usc/26/683 · Internal Revenue Code, current through Pub. L. 119-100 (OLRC XML of 2026-04-17)