[Code of Federal Regulations]
[Title 26, Volume 1]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.264-3]

[Page 563]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1_INCOME TAXES--Table of Contents
 
Sec. 1.264-3  Effective date; taxable years ending after March 1, 1954, 
subject to the Internal Revenue Code of 1939.

    Pursuant to section 7851(a)(1)(C), the regulations prescribed in 
Sec. 1.264-2, to the extent that they relate to amounts paid or accrued 
on indebtedness incurred or continued to purchase or carry a single 
premium annuity contract purchased after March 1, 1954, and to the 
extent they consider a contract a single premium life insurance, 
endowment, or annuity contract if an amount is deposited after March 1, 
1954, with the insurer for payment of a substantial number of future 
premiums on the contract, shall also apply to taxable years beginning 
before January 1, 1954, and ending after March 1, 1954, and to taxable 
years beginning after December 31, 1953, and ending after March 1, 1954, 
but before August 17, 1954, although such years are subject to the 
Internal Revenue Code of 1939.