Treasury Regulations (26 C.F.R.)
26 CFR § 53.4944-6
Special rules for investments made prior to January 1, 1970.
# (a)
Except as provided in paragraph (b) or (c) of this section, an investment made by a private foundation prior to January 1, 1970, shall not be subject to the provisions of section 4944.
# (b)
If the form or terms of an investment made by a private foundation prior to January 1, 1970, are changed (other than as described in paragraph (c) of this section) on or after such date, the provisions of § 53.4944-1(a)(2)(iii) shall apply with respect to such investment.
# (c)
In the case of an investment made by a private foundation prior to January 1, 1970, which is exchanged on or after such date for another investment, for purposes of section 4944 the foundation will be considered to have made a new investment on the date of such exchange, unless the post-1969 investment is described in § 53.4944-1(a)(2)(ii)(b). Accordingly, a determination, under § 53.4944-1(a) (2)(i), whether the investment jeopardizes the carrying out of the foundation's exempt purposes shall be made at such time.
Source: view the official text
In this part (40 sections)
- 53.4942(a)-3 · (a)-3 Qualifying distributions defined.
- 53.4942(b)-1 · (b)-1 Operating foundations.
- 53.4942(b)-2 · (b)-2 Alternative tests.
- 53.4942(b)-3 · (b)-3 Determination of compliance with operating…
- 53.4943-1 · General rule; purpose.
- 53.4943-2 · Imposition of tax on excess business holdings of private…
- 53.4943-3 · Determination of excess business holdings.
- 53.4943-4 · Present holdings.
- 53.4943-5 · Present holdings acquired by trust or a will.
- 53.4943-6 · Five-year period to dispose of gifts, bequests, etc.
- 53.4943-7 · Special rules for readjustments involving grandfathered…
- 53.4943-8 · Business holdings; constructive ownership.
- 53.4943-9 · Business holdings; certain periods.
- 53.4943-10 · Business enterprise; definition.
- 53.4943-11 · Effective/applicability date.
- 53.4944-1 · Initial taxes.
- 53.4944-2 · Additional taxes.
- 53.4944-3 · Exception for program-related investments.
- 53.4944-4 · Special rules.
- 53.4944-5 · Definitions.
- 53.4944-6 · Special rules for investments made prior to January 1, 1970.
- 53.4945-1 · Taxes on taxable expenditures.
- 53.4945-2 · Propaganda influencing legislation.
- 53.4945-3 · Influencing elections and carrying on voter registration…
- 53.4945-4 · Grants to individuals.
- 53.4945-5 · Grants to organizations.
- 53.4945-6 · Expenditures for noncharitable purposes.
- 53.4946-1 · Definitions and special rules.
- 53.4947-1 · Application of tax.
- 53.4947-2 · Special rules.
- 53.4948-1 · Application of taxes and denial of exemption with respect…
- 53.4951-1 · Black lung trusts—taxes on self-dealing.
- 53.4952-1 · Black lung trusts—taxes on taxable expenditures.
- 53.4955-1 · Tax on political expenditures.
- 53.4958-0 · Table of contents.
- 53.4958-1 · Taxes on excess benefit transactions.
- 53.4958-2 · Definition of applicable tax-exempt organization.
- 53.4958-3 · Definition of disqualified person.
- 53.4958-4 · Excess benefit transaction.
- 53.4958-5 · Transaction in which the amount of the economic benefit is…