Treasury Regulations (26 C.F.R.)
26 CFR § 301.7507-3
Segregated or transferred assets.
# (a) In general.
In a case involving segregated or transferred assets, it is not necessary, for application of section 7507, that the assets shall technically constitute a trust fund. It is sufficient that segregated assets be definitely separated from other assets of the bank and that transferred assets be definitely separated both from other assets of the bank and from other assets held or owned by the trustee or agent to whom assets of the bank have been transferred; that the bank be wholly or partially released from liability for repayment of deposits as such; and that the depositors have claims against the separated assets. Any excess of separated assets over the amount necessary for payment of such depositors will be available for tax collection after full payment of depositors' claims under the agreement against such assets. But see paragraph (a) of § 301.7507-9.
# (b) Corporate transferees.
Where the segregated assets are transferred to a separate corporate trustee or corporate agent, the assets and earnings therefrom are within the protection of the section, until full payment of depositors' claims against such assets and earnings, no matter by whom the stock of such corporation is held, and no matter whether the assets be liquidated or operated or held for benefit of the depositors.
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In this part (40 sections)
- 301.7433-2 · Civil cause of action for violation of section 362 or 524…
- 301.7452-1 · Representation of parties.
- 301.7454-1 · Burden of proof in fraud and transferee cases.
- 301.7454-2 · Burden of proof in foundation manager, etc. cases.
- 301.7456-1 · Administration of oaths and procurement of testimony;…
- 301.7457-1 · Witness fees.
- 301.7458-1 · Hearings.
- 301.7461-1 · Publicity of proceedings.
- 301.7476-1 · Declaratory judgments.
- 301.7477-1 · Declaratory judgments relating to the value of certain…
- 301.7481-1 · Date when Tax Court decision becomes final; decision…
- 301.7482-1 · Courts of review; venue.
- 301.7483-1 · Petition for review.
- 301.7484-1 · Change of incumbent in office.
- 301.7502-1 · Timely mailing of documents and payments treated as timely…
- 301.7503-1 · Time for performance of acts where last day falls on…
- 301.7505-1 · Sale of personal property acquired by the United States.
- 301.7506-1 · Administration of real estate acquired by the United…
- 301.7507-1 · Banks and trust companies covered.
- 301.7507-2 · Scope of section generally.
- 301.7507-3 · Segregated or transferred assets.
- 301.7507-4 · Unsegregated assets.
- 301.7507-5 · Earnings.
- 301.7507-6 · Abatement and refund.
- 301.7507-7 · Establishment of immunity.
- 301.7507-8 · Procedure during immunity.
- 301.7507-9 · Termination of immunity.
- 301.7507-10 · Collection of tax after termination of immunity.
- 301.7507-11 · Exception of employment taxes.
- 301.7508-1 · Time for performing certain acts postponed by reason of…
- 301.7508A-1 · Postponement of certain tax-related deadlines by reasons…
- 301.7510-1 · Exemption from tax of domestic goods purchased for the…
- 301.7512-1 · Separate accounting for certain collected taxes.
- 301.7513-1 · Reproduction of returns and other documents.
- 301.7514-1 · Seals of office.
- 301.7515-1 · Special statistical studies and compilations on request.
- 301.7516-1 · Training and training aids on request.
- 301.7517-1 · Furnishing on request of statement explaining estate or…
- 301.7601-1 · Canvass of districts for taxable persons and objects.
- 301.7602-1 · Examination of books and witnesses.