26 CFR 1.72-12
§ 1.72-12 Effect of taking an annuity in lieu of a lump sum upon the maturity of a contract.
United States · 26 CFR — Internal Revenue · Status: effective
Cite this
- Citation
- 26 CFR 1.72-12, § 1.72-12 Effect of taking an annuity in lieu of a lump sum upon the maturity of a contract, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/108954
- Permanent ID
ys:prov:108954@1- SHA-256
6c66dd19dcb7b5efd6f151179a0253a165586a3f4423bd255a3bdddf143d6332
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
If a contract to which section 72 applies provides for the payment of a lump sum in full discharge of the obligation thereunder and the obligee entitled thereto, prior to receiving any portion of such lump sum and within 60 days after the date on which such lump sum first becomes payable, exercises an option or irrevocably agrees with the obligor to take, in lieu thereof, payments which will constitute “amounts received as an annuity”, as that term is defined in paragraph (b) of § 1.72-2, no part of such lump sum shall be deemed to have been received by the obligee at the time he was first entitled thereto merely because he would have been entitled to such amount had he not exercised the option or made such an agreement with the obligor.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.