Internal Revenue Code · 26 U.S.C.
§ 4947. Application of taxes to certain nonexempt trusts
Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).
Cite as 26 U.S.C. § 4947
At a glance
Read from the text, the source credit and the official notes. Not part of the law.
- Status
- In force
- Added
- December 30, 1969 by Pub. L. 91–172
- Last amended
- December 17, 2010 by Pub. L. 111–312
- Amendments
- 5 dated changes in the source credit
- Length
- 2 subsections · 758 words · about 3 min to read
- Cross-references
- cites 11; cited by 8 Code sections and 43 other regulations
- Regulations
- 2 issued under this section
For purposes of part II of subchapter F of chapter 1 (other than section 508(a), (b), and (c)) and for purposes of this chapter, a trust which is not exempt from taxation under section 501(a), all of the unexpired interests in which are devoted to one or more of the purposes described in section 170(c)(2)(B), and for which a deduction was allowed under section 170, 545(b)(2), 642(c), 2055, 2106(a)(2), or 2522 (or the corresponding provisions of prior law), shall be treated as an organization described in section 501(c)(3). For purposes of section 509(a)(3)(A), such a trust shall be treated as if organized on the day on which it first becomes subject to this paragraph.
For purposes of paragraph (2)(B), a trust with respect to which amounts are segregated shall separately account for the various income, deduction, and other items properly attributable to each of such segregated amounts.
The Secretary shall prescribe such regulations as may be necessary to carry out the purposes of this section.
If any amounts in the trust are segregated within the meaning of subsection (a)(2)(B) of this section, the value of the net assets for purposes of subsections (c)(2) and (g) of section 507 shall be limited to such segregated amounts.
The provisions of section 507(a) shall not apply to a trust which is described in subsection (a)(2) by reason of a distribution of qualified employer securities (as defined in section 664(g)(4)) to an employee stock ownership plan (as defined in section 4975(e)(7)) in a qualified gratuitous transfer (as defined by section 664(g)).
(Added Pub. L. 91–172, title I, § 101(b), Dec. 30, 1969, 83 Stat. 517; amended Pub. L. 94–455, title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 105–34, title XV, § 1530(c)(9), Aug. 5, 1997, 111 Stat. 1079; Pub. L. 107–16, title V, § 542(e)(4), June 7, 2001, 115 Stat. 85; Pub. L. 108–357, title IV, § 413(c)(30), Oct. 22, 2004, 118 Stat. 1509; Pub. L. 111–312, title III, § 301(a), Dec. 17, 2010, 124 Stat. 3300.)
Regulations under this section
Treasury regulations (26 CFR) issued under § 4947
Cross-references
Computed from the citations in the text of Title 26 and 26 CFR.
This section cites 11 other sections
- § 508(a) Special rules with respect to section 501(c)(3) organizations
- § 170(c)(2)(B) Charitable, etc., contributions and gifts
- § 501(c)(3) Exemption from tax on corporations, certain trusts, etc.
- § 509(a)(3)(A) Private foundation defined
- § 507 Termination of private foundation status
- § 4941 Taxes on self-dealing
- § 4943 Taxes on excess business holdings
- § 4944 Taxes on investments which jeopardize charitable purpose
- § 4945 Taxes on taxable expenditures
- § 664(g)(4) Charitable remainder trusts
- § 4975(e)(7) Tax on prohibited transactions
Cited by 8 Code sections
- § 508(d)(2) Special rules with respect to section 501(c)(3) organizations
- § 644(b) Taxable year of trusts
- § 1473(3)(J)(ii) Definitions
- § 2055(e)(3)(F) Transfers for public, charitable, and religious uses
- § 4943(d)(1) Taxes on excess business holdings
- § 6033(d)(1) Returns by exempt organizations
- § 6034(a) Returns by certain trusts
- § 6049(b)(4)(L)(ii) Returns regarding payments of interest
Cited in 43 regulations not issued under it
- § 1.170A-6 Charitable contributions in trust.
- § 1.170A-9 Definition of section 170(b)(1)(A) organization.
- § 1.508-1 Notices.
- § 1.508-2 Disallowance of certain charitable, etc., deductions.
- § 1.508-3 Governing instruments.
- § 1.509(a)-3 Broadly, publicly supported organizations.
- § 1.509(a)-4 Supporting organizations.
- § 1.509(a)-5 Special rules of attribution.
- § 1.642(c)-1 Unlimited deduction for amounts paid for a charitable purpose.
- § 1.642(c)-2 Unlimited deduction for amounts permanently set aside for a charitable purpose.
- § 1.642(c)-4 Nonexempt private foundations.
- § 1.642(c)-5 Definition of pooled income fund.
- § 1.664-1 Charitable remainder trusts.
- § 1.664-2 Charitable remainder annuity trust.
- § 1.664-3 Charitable remainder unitrust.
- § 1.1473-1 Section 1473 definitions.
- § 1.6012-3 Returns by fiduciaries.
- § 1.6033-2 Returns by exempt organizations and returns by certain nonexempt organizations.
- § 1.6033-3 Additional provisions relating to private foundations.
- § 1.6033-6 Notification requirement for entities not required to file an annual information return under section 6033(a)(1) (taxable years beginning after December 31, 2006).
- § 1.6034-1 Information returns required of trusts described in section 4947(a)(2) or claiming charitable or other deductions under section 642(c).
- § 1.6049-4 Return of information as to interest paid and original issue discount includible in gross income after December 31, 1982.
- § 1.6049-7 Returns of information with respect to REMIC regular interests and collateralized debt obligations.
- § 20.2055-2 Transfers not exclusively for charitable purposes.
Show 19 more
- § 20.2055-5 Disallowance of charitable, etc., deductions in the case of decedents dying after December 31, 1969.
- § 25.2522(c)-2 Disallowance of charitable, etc., deductions in the case of gifts made after December 31, 1969.
- § 25.2522(c)-3 Transfers not exclusively for charitable, etc., purposes in the case of gifts made after July 31, 1969.
- § 53.4940-1 Excise tax on net investment income.
- § 53.4942(a)-2 Computation of undistributed income.
- § 53.4943-3 Determination of excess business holdings.
- § 53.4943-4 Present holdings.
- § 53.4943-8 Business holdings; constructive ownership.
- § 53.4945-5 Grants to organizations.
- § 53.4945-6 Expenditures for noncharitable purposes.
- § 53.6011-1 General requirement of return, statement or list.
- § 53.6071-1 Time for filing returns.
- § 53.6651-1 Failure to file tax return or to pay tax.
- § 301.6033-4 Required filing in electronic form for returns by organizations required to file returns under section 6033.
- § 301.6034-1 Returns by trusts described in section 4947(a)(2) or claiming charitable or other deductions under section 642(c).
- § 301.6104(d)-1 Public inspection and distribution of applications for tax exemption and annual information returns of tax-exempt organizations.
- § 301.6501(n)-1 Special rules for chapter 42 and similar taxes.
- § 301.6652-2 Failure by exempt organizations and certain nonexempt organizations to file certain returns or to comply with section 6104(d) for taxable years beginning after December 31, 1969.
- § 601.201 Rulings and determinations letters.
Amendment history
From the source credit and the official notes, newest first.
- Amended by Pub. L. 111–312Parts changed in 2010: (a)(2)(A)
- Amended by Pub. L. 108–357Parts changed in 2004: (a)(1)
- Amended by Pub. L. 107–16Parts changed in 2001: (a)(2)(A)
- Amended by Pub. L. 105–34Parts changed in 1997: (b)(4)
- Amended by Pub. L. 94–455Parts changed in 1976: (b)(1)
- Added by Pub. L. 91–172
Where it sits in the Code
- Subtitle D Miscellaneous Excise Taxes
- Chapter 42 PRIVATE FOUNDATIONS; AND CERTAIN OTHER TAX-EXEMPT ORGANIZATIONS
- Subchapter A Private Foundations
Nearby sections
- § 4943 Taxes on excess business holdings
- § 4944 Taxes on investments which jeopardize charitable purpose
- § 4945 Taxes on taxable expenditures
- § 4946 Definitions and special rules
- § 4947 Application of taxes to certain nonexempt trusts
- § 4948 Application of taxes and denial of exemption with respect to certain foreign organizations
Official notes
Show the Law Revision Counsel's notes (amendments, effective dates)
Editorial Notes
Amendments
2010—Subsec. (a)(2)(A). Pub. L. 111–312 amended subsec. (a)(2)(A) to read as if amendment by Pub. L. 107–16, § 542(e)(4), had never been enacted. See 2001 Amendment note below.
2004—Subsecs. (a)(1), (2), (b)(3). Pub. L. 108–357 struck out “556(b)(2),” after “545(b)(2),” wherever appearing.
2001—Subsec. (a)(2)(A). Pub. L. 107–16, § 542(e)(4), inserted “642(c),” after “170(f)(2)(B),”.
1997—Subsec. (b)(4). Pub. L. 105–34 added par. (4).
1976—Subsec. (b)(1). Pub. L. 94–455 struck out “or his delegate” after “Secretary”.
Statutory Notes and Related Subsidiaries
Effective Date of 2010 Amendment
Amendment by Pub. L. 111–312 applicable to estates of decedents dying, and transfers made after Dec. 31, 2009, except as otherwise provided, see section 301(e) of Pub. L. 111–312, set out as an Effective and Termination Dates of 2010 Amendment note under section 121 of this title.
Effective Date of 2004 Amendment
Amendment by Pub. L. 108–357 applicable to taxable years of foreign corporations beginning after Dec. 31, 2004, and to taxable years of United States shareholders with or within which such taxable years of foreign corporations end, see section 413(d)(1) of Pub. L. 108–357, set out as an Effective and Termination Dates of 2004 Amendments note under section 1 of this title.
Effective Date of 2001 Amendment
Amendment by Pub. L. 107–16 applicable to deductions for taxable years beginning after Dec. 31, 2009, see section 542(f)(3) of Pub. L. 107–16, set out as a note under section 121 of this title.
Effective Date of 1997 Amendment
Amendment by Pub. L. 105–34 applicable to transfers made by trusts to, or for the use of, an employee stock ownership plan after Aug. 5, 1997, see section 1530(d) of Pub. L. 105–34, set out as a note under section 401 of this title.