26 U.S.C. § 683 — Use of trust as an exchange fund
Verified against govinfo.gov as of June 20, 2026View official text on govinfo.gov ↗
- (a)General ruleExcept 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 fundsSubsection (a) shall not apply to any transfer to a pooled income fund (within the meaning of section 642(c)(5)).