§ 7780.14

This subchapter does not apply to: (1) A power of appointment. (2) A power held by the settlor or a beneficiary of a trust to appoint or remove a trustee or a trust director unless the terms of the trust provide that the power is exercisable by the settlor or beneficiary acting as a trust director. (3) A settlor's power over a trust to the extent the settlor may revoke the trust. (4) A power of a beneficiary over a trust to the extent the exercise or nonexercise of the power affects the beneficial interest of: (i) the beneficiary; or (ii) another beneficiary who is represented by the beneficiary under Subchapter C (relating to representation) with respect to the exercise or nonexercise of the power. (5) A power over a trust that must be held in a nonfiduciary capacity to achieve the settlor's tax objectives under 26 U.S.C. (relating to Internal Revenue Code), as amended, and regulations issued thereunder, as amended.