¹P.L. 107-16, 107th Cong., 1st Sess. (2001).

²A detailed analysis of these provisions will appear in a future issue of The Tax Adviser.

³Rev. Proc. 2001-13, IRB 2001-3, 337, Section 3.

⁴REG-251701-96 (12/29/00) and TD 8915 (12/28/00).

⁵H. Rep't No. 104-586, 104th Congress, 2d Session (1996), p. 82.

⁶Notice 97-12, 1997-1 CB 385 (ESBT election procedures); Notice 97-49, 1997-2 CB 304 (definition of "current beneficiaries"); Rev. Proc. 98-23, 1998-1 CB 622 (procedures for a QSST to convert to an ESBT and vice versa); and Notice 2001-25, IRB 2001-13, 941 (applying estimated ESBT taxes to the deemed owners' accounts).

⁷REG-130477-00 (1/17/01), corrected by REG-130481-00 (2/21/01).