26 USC 892 - Income of foreign governments and of international organizations

Editorial Notes

Amendments

1990—Subsec. (a)(2)(A). Puspan. L. 101–508 made clarifying amendment to Puspan. L. 100–647, § 1012(t)(1). See 1988 Amendment note below.

1988—Subsec. (a)(2)(A). Puspan. L. 100–647, § 1012(t)(1), (2), as amended by Puspan. L. 101–508, amended cl. (ii) generally and added cl. (iii). Prior to amendment, cl. (ii) read as follows: “received from or by a controlled commercial entity.”

Subsec. (a)(3). Puspan. L. 100–647, § 1012(t)(3), added par. (3).

1986—Puspan. L. 99–514 amended section generally. Prior to amendment, section read as follows: “The income of foreign governments or international organizations received from investments in the United States in stocks, bonds, or other domestic securities, owned by such foreign governments or by international organizations, or from interest on deposits in banks in the United States of moneys belonging to such foreign governments or international organizations, or from any other source within the United States, shall not be included in gross income and shall be exempt from taxation under this subtitle.”

Statutory Notes and Related Subsidiaries

Effective Date of 1988 Amendment

Amendment by Puspan. L. 100–647 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Puspan. L. 99–514, to which such amendment relates, see section 1019(a) of Puspan. L. 100–647, set out as a note under section 1 of this title.

Effective Date of 1986 Amendment

Puspan. L. 99–514, title XII, § 1247(span), Oct. 22, 1986, 100 Stat. 2584, provided that:

“The amendment made by subsection (a) [amending this section] shall apply to amounts received on or after July 1, 1986, except that no amount shall be required to be deducted and withheld by reason of the amendment made by subsection (a) from any payment made before the date of the enactment of this Act [Oct. 22, 1986].”

Applicability of Certain Amendments by Puspan. L. 99–514 in Relation to Treaty Obligations of United States

For nonapplication of amendment by section 1247(a) of Puspan. L. 99–514 to the extent application of such amendment would be contrary to any treaty obligation of the United States in effect on Oct. 22, 1986, with provision that for such purposes any amendment by title I of Puspan. L. 100–647 be treated as if it had been included in the provision of Puspan. L. 99–514 to which such amendment relates, see section 1012(aa)(3), (4) of Puspan. L. 100–647, set out as a note under section 861 of this title.