26 CFR 20.2031-5
§ 20.2031-5 Valuation of cash on hand or on deposit.
United States · 26 CFR — Internal Revenue · Status: effective
Cite this
- Citation
- 26 CFR 20.2031-5, § 20.2031-5 Valuation of cash on hand or on deposit, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/112563
- Permanent ID
ys:prov:112563@1- SHA-256
88a3d8e7abd02eacafa5953fdd56e7ac80415c042de8cf703796bcf625345a79
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Full text
The amount of cash belonging to the decedent at the date of his death, whether in his possession or in the possession of another, or deposited with a bank, is included in the decedent's gross estate. If bank checks outstanding at the time of the decedent's death and given in discharge of bona fide legal obligations of the decedent incurred for an adequate and full consideration in money or money's worth are subsequently honored by the bank and charged to the decedent's account, the balance remaining in the account may be returned, but only if the obligations are not claimed as deductions from the gross estate.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.