Treasury Regulations · 26 CFR
§ 2.1-7. Circumstances permitting reimbursement from a construction reserve fund.
Regulation text, no changes From the eCFR, current as of October 15, 2026. The eCFR is an authoritative but unofficial editorial compilation of the Code of Federal Regulations; the official text is the annual CFR on govinfo. Compare it with this section on ecfr.gov (external site) or the official annual CFR on govinfo (external site).
Regulation under 26 U.S.C. § 1
Cite as 26 CFR § 2.1-7
At a glance
Read from the text and its source citation. Not part of the regulation.
- Status
- In the current eCFR
- Source
- T.D. 6820, 30 FR 6030, Apr. 29, 1965, unless otherwise noted.
- Issued under
- 26 U.S.C. § 1
- Length
- 208 words · about 1 min to read
¶(a) Payments prior to establishment of fund. If, prior to the establishment of a construction reserve fund under the regulations in this part, a taxpayer has made necessary payments under a contract which satisfies the provisions of the regulations in this part and section 511 of the Act for the construction or acquisition of a new vessel, such taxpayer may, if subsequently authorized to establish a construction reserve fund under the regulations in this part, draw against such fund as reimbursement for the amount, if any, of other funds which, with the approval or ratification of the Administration, the taxpayer used for making such necessary payments prior to the establishment of the fund.
¶(b) Payments subsequent to establishment of fund. If, subsequent to the establishment of a construction reserve fund under the regulations in this part, the taxpayer has made necessary payments under a contract which satisfies the provisions of the regulations in this part and section 511 of the Act for the construction or acquisition of a new vessel, such taxpayer may draw against such fund as reimbursement for the amount, if any, of other funds which, with the approval or ratification of the Administration, the taxpayer had used for the purpose of making such necessary payments.
Where it sits in 26 CFR
- Subchapter A Income tax
- Part 2 Maritime construction reserve fund
Nearby sections
- § 2.1-3 Requirements as to vessel operations.
- § 2.1-4 Application to establish fund.
- § 2.1-5 Tentative authorization to establish fund.
- § 2.1-6 Establishment of fund.
- § 2.1-7 Circumstances permitting reimbursement from a construction reserve fund.
- § 2.1-8 Investment of funds in securities.
- § 2.1-9 Valuation of securities in fund.
- § 2.1-10 Withdrawals from fund.
- § 2.1-11 Time deposits.