Treasury Regulations (26 C.F.R.)
26 CFR § 301.7701-6
Definitions; person, fiduciary.
# (a) Person.
The term person includes an individual, a corporation, a partnership, a trust or estate, a joint-stock company, an association, or a syndicate, group, pool, joint venture, or other unincorporated organization or group. The term also includes a guardian, committee, trustee, executor, administrator, trustee in bankruptcy, receiver, assignee for the benefit of creditors, conservator, or any person acting in a fiduciary capacity.
# (b)
Fiduciary—(1) In general. Fiduciary is a term that applies to persons who occupy positions of peculiar confidence toward others, such as trustees, executors, and administrators. A fiduciary is a person who holds in trust an estate to which another has a beneficial interest, or receives and controls income of another, as in the case of receivers. A committee or guardian of the property of an incompetent person is a fiduciary.
(2) Fiduciary distinguished from agent. There may be a fiduciary relationship between an agent and a principal, but the word agent does not denote a fiduciary. An agent having entire charge of property, with authority to effect and execute leases with tenants entirely on his own responsibility and without consulting his principal, merely turning over the net profits from the property periodically to his principal by virtue of authority conferred upon him by a power of attorney, is not a fiduciary within the meaning of the Internal Revenue Code. In cases when no legal trust has been created in the estate controlled by the agent and attorney, the liability to make a return rests with the principal.
# (c) Effective date.
The rules of this section are effective as of January 1, 1997.
[T.D. 8697, 61 FR 66593, Dec. 18, 1996]
Source: view the official text
In this part (40 sections)
- 301.7609-2 · Notification of persons identified in third-party…
- 301.7609-3 · Duty of and protection for the summoned party.
- 301.7609-4 · Right to intervene; right to institute a proceeding to…
- 301.7609-5 · Suspension of periods of limitations.
- 301.7610-1 · Fees and costs for witnesses.
- 301.7611-1 · Questions and answers relating to church tax inquiries and…
- 301.7621-1 · Internal revenue districts.
- 301.7622-1 · Authority to administer oaths and certify.
- 301.7623-1 · General rules, submitting information on underpayments of…
- 301.7623-2 · Definitions.
- 301.7623-3 · Whistleblower administrative proceedings and appeals of…
- 301.7623-4 · Amount and payment of award.
- 301.7624-1 · Reimbursement to State and local law enforcement agencies.
- 301.7641-1 · Supervision of operations of certain manufacturers.
- 301.7654-1 · Coordination of U.S. and Guam individual income taxes.
- 301.7701-1 · Classification of organizations for federal tax purposes.
- 301.7701-2 · Business entities; definitions.
- 301.7701-3 · Classification of certain business entities.
- 301.7701-4 · Trusts.
- 301.7701-5 · Domestic and foreign business entities.
- 301.7701-6 · Definitions; person, fiduciary.
- 301.7701-7 · Trusts—domestic and foreign.
- 301.7701-8 · Military or naval forces and Armed Forces of the United…
- 301.7701-9 · Secretary or his delegate.
- 301.7701-10 · District director.
- 301.7701-11 · Social security number.
- 301.7701-12 · Employer identification number.
- 301.7701-13 · Pre-1970 domestic building and loan association.
- 301.7701-13A · Post-1969 domestic building and loan association.
- 301.7701-14 · Cooperative bank.
- 301.7701-15 · Tax return preparer.
- 301.7701-16 · Other terms.
- 301.7701-17T · Collective-bargaining plans and agreements (temporary).
- 301.7701-18 · Definitions; spouse, husband and wife, husband, wife,…
- 301.7701(b)-0 · (b)-0 Outline of regulation provision for section…
- 301.7701(b)-1 · (b)-1 Resident alien.
- 301.7701(b)-2 · (b)-2 Closer connection exception.
- 301.7701(b)-3 · (b)-3 Days of presence in the United States that are…
- 301.7701(b)-4 · (b)-4 Residency time periods.
- 301.7701(b)-5 · (b)-5 Coordination with section 877.