Internal Revenue Code · 26 U.S.C.

§ 860A. Taxation of REMIC’s

In force Text current through Public Law 119-121 (October 9, 2026) release point 119-121

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. § 860A

At a glance

Read from the text, the source credit and the official notes. Not part of the law.

Status: In force
Added: October 22, 1986 by Pub. L. 99–514
Last amended: November 10, 1988 by Pub. L. 100–647
Amendments: 1 dated changes in the source credit
Length: 2 subsections · 87 words · about 1 min to read
Cross-references: cites 0; cited by 0 Code sections and 3 other regulations
Regulations: 2 issued under this section

¶(a) General rule

Except as otherwise provided in this part, a REMIC shall not be subject to taxation under this subtitle (and shall not be treated as a corporation, partnership, or trust for purposes of this subtitle).

¶(b) Income taxable to holders

The income of any REMIC shall be taxable to the holders of interests in such REMIC as provided in this part.

(Added Pub. L. 99–514, title VI, § 671(a), Oct. 22, 1986, 100 Stat. 2309; amended Pub. L. 100–647, title I, § 1006(t)(20), Nov. 10, 1988, 102 Stat. 3426.)

Regulations under this section

Treasury regulations (26 CFR) issued under § 860A

Cross-references

Computed from the citations in the text of Title 26 and 26 CFR.

Cited in 3 regulations not issued under it

Amendment history

From the source credit and the official notes, newest first.

November 10, 1988Amended by Pub. L. 100–647Parts changed in 1988: (a)
October 22, 1986Added by Pub. L. 99–514

Where it sits in the Code

Nearby sections

§ 860A Taxation of REMIC’s
§ 860B Taxation of holders of regular interests
§ 860C Taxation of residual interests
§ 860D REMIC defined
§ 860E Treatment of income in excess of daily accruals on residual interests

Official notes

Show the Law Revision Counsel's notes (amendments, effective dates)

Editorial Notes

Amendments

1988—Subsec. (a). Pub. L. 100–647 substituted “this subtitle” for “this chapter” in two places.

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

Pub. L. 99–514, title VI, § 675(a)–(c), Oct. 22, 1986, 100 Stat. 2320, as amended by Pub. L. 100–647, title I, § 1006(w)(1), Nov. 10, 1988, 102 Stat. 3427, provided that:

“(a) General Rule.— Except as otherwise provided in this section, the amendments made by this subtitle [subtitle H (§§ 671–675) of title VI of Pub. L. 99–514, enacting this part and amending sections 582, 593, 856, 1272, 6049, and 7701 of this title] shall take effect on January 1, 1987.

“(b) Rules for Accruing Original Issue Discount.— The amendment made by section 672 [amending section 1272 of this title] shall apply to debt instruments issued after December 31, 1986, in taxable years ending after such date.

“(c) Treatment of Taxable Mortgage Pools.—
“(1) In general.— The amendment made by section 673 [amending section 7701 of this title] shall take effect on January 1, 1992.
“(2) Treatment of existing entities.— The amendment made by section 673 shall not apply to any entity in existence on December 31, 1991. The preceding sentence shall cease to apply with respect to any entity as of the 1st day after December 31, 1991, on which there is a substantial transfer of cash or other property to such entity.
“(3) Special rule for coordination with wash-sale rules.— Notwithstanding paragraphs (1) and (2), for purposes of applying section 860F(d) of the Internal Revenue Code of 1986 (as added by this part [this subtitle]), the amendment made by section 673 shall apply to taxable years beginning after December 31, 1986.”

Study of Amendments by Pub. L. 99–514

Pub. L. 99–514, title VI, § 675(d), as added by Pub. L. 100–647, title I, § 1006(w)(2), Nov. 10, 1988, 102 Stat. 3427, directed Secretary of the Treasury to conduct a study of the operation of the amendments made by this part [this subtitle] and their competitive impact on savings and loan institutions and similar financial institutions and, not later than Jan. 1, 1990, report to Congress, prior to repeal by Pub. L. 101–508, title XI, § 11832(5), Nov. 5, 1990, 104 Stat. 1388–559.