{"data":{"id":"us/26-cfr-1.679-7","jurisdiction":"us","citation":"26 CFR 1.679-7","heading":"-7 Effective dates.","body":"(a) In general. Except as provided in paragraph (b) of this section, the rules of §§ 1.679-1, 1.679-2, 1.679-3, and 1.679-4 apply with respect to transfers after August 7, 2000.\n(b) Special rules. (1) The rules of § 1.679-4(c) and (d) apply to an obligation issued after February 6, 1995, whether or not in accordance with a pre-existing arrangement or understanding. For purposes of the rules of § 1.679-4(c) and (d), if an obligation issued on or before February 6, 1995, is modified after that date, and the modification is a significant modification within the meaning of § 1.1001-3, the obligation is treated as if it were issued on the date of the modification. However, the penalty provided in section 6677 applies only to a failure to report transfers in exchange for obligations issued after August 20, 1996.\n(2) The rules of § 1.679-5 apply to persons whose residency starting date is after August 7, 2000.\n(3) The rules of § 1.679-6 apply to trusts that become foreign trusts after August 7, 2000.","path":["Title 26—Internal Revenue","CHAPTER I—INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY","SUBCHAPTER A—INCOME TAX","PART 1—INCOME TAXES"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-26.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:25:11Z","sha256":"05d536ed4b3cbe2db0187f6d6b6b3129b313e1e1f13318e7237c804a25a259ed","source_id":"us-cfr","stale":true,"prev":"us/26-cfr-1.679-6","next":"us/26-cfr-1.681-a-1"},"notice":"GroundRules: Original legal text. Not legal advice."}