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Current as of January 01, 2024 | Updated by FindLaw Staff
(a) Stock in corporation.--For purposes of this subchapter shares of stock owned and held by a nonresident not a citizen of the United States shall be deemed property within the United States only if issued by a domestic corporation.
(b) Revocable transfers and transfers within 3 years of death.--For purposes of this subchapter, any property of which the decedent has made a transfer, by trust or otherwise, within the meaning of sections 2035 to 2038, inclusive, shall be deemed to be situated in the United States, if so situated either at the time of the transfer or at the time of the decedent's death.
(c) Debt obligations.--For purposes of this subchapter, debt obligations of--
(1) a United States person, or
(2) the United States, a State or any political subdivision thereof, or the District of Columbia,
owned and held by a nonresident not a citizen of the United States shall be deemed property within the United States. Deposits with a domestic branch of a foreign corporation, if such branch is engaged in the commercial banking business, shall, for purposes of this subchapter, be deemed property within the United States. This subsection shall not apply to a debt obligation to which section 2105(b) applies.
Cite this article: FindLaw.com - 26 U.S.C. § 2104 - U.S. Code - Unannotated Title 26. Internal Revenue Code § 2104. Property within the United States - last updated January 01, 2024 | https://codes.findlaw.com/us/title-26-internal-revenue-code/26-usc-sect-2104/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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