Updated November 6, 2026. Quick answer: The IRS has not yet published the section 7520 rate for September 2027. The most recent rate, for November 2026, is 6.2% (Rev. Rul. 2026-21, Table 5): the IRS lists the 120% mid-term figure as 6.11 (mid-term AFR 5.08%) before rounding. This page carries the November 2026 rate, labeled as November 2026, until the September 2027 ruling appears, and it updates when the IRS publishes the September 2027 rate. As of November 6, 2026 no ruling for any month after November 2026 exists.
Where the rate stands
| Step | November 2026 |
|---|---|
| Mid-term AFR, annual compounding | 5.08% |
| 120% of the mid-term AFR (IRS table) | 6.11 |
| Section 7520 rate (rounded) | 6.2% |
The ruling’s table is headed “Rate Under Section 7520 for November 2026”. On November 6, 2026 the IRS section 7520 table ended at November 2026, so November 2026 is the latest published month.
How 6.11 becomes 6.2%
The statute sets the rate as “an interest rate (rounded to the nearest 2/10ths of 1 percent) equal to 120 percent of the Federal midterm rate in effect under section 1274(d)(1) for the month in which the valuation date falls”. The IRS table puts the same rule this way: “the interest rate for a particular month is the rate that is 120 percent of the applicable federal midterm rate (compounded annually) for the month in which the valuation date falls”.
For November 2026 the ruling prints a mid-term AFR of 5.08% (annual compounding) and a 120% mid-term figure of 6.11. The two nearest two-tenths values are 6.0 and 6.2. 6.11 is 0.11 points above 6.0 and 0.09 points below 6.2, so the rounded rate is 6.2%, the figure in Rev. Rul. 2026-21 Table 5 (computed).
The six months to November 2026
| Valuation month | Mid-term AFR, annual | 120% of the mid-term AFR (IRS) | Section 7520 rate | Revenue ruling |
|---|---|---|---|---|
| June 2026 | 4.13% | 4.97 | 5.0% | Rev. Rul. 2026-11 |
| July 2026 | 4.35% | 5.23 | 5.2% | Rev. Rul. 2026-12 |
| August 2026 | 4.35% | 5.23 | 5.2% | Rev. Rul. 2026-13 |
| September 2026 | 4.49% | 5.40 | 5.4% | Rev. Rul. 2026-17 |
| October 2026 | 4.61% | 5.54 | 5.6% | Rev. Rul. 2026-19 |
| November 2026 | 5.08% | 6.11 | 6.2% | Rev. Rul. 2026-21 |
Do not recompute the rate from the printed mid-term AFR
Multiplying the printed mid-term AFR by 1.2 can land on the wrong rate. For November 2026 the printed mid-term AFR is 5.08%, and 5.08 times 1.2 is 6.096, which would round to 6.0, not 6.2. The ruling’s own 120% mid-term figure is 6.11, and it rounds to 6.2% (computed). The same thing happens for May 2026: 4.08% times 1.2 rounds to 4.8, and the IRS rate is 5.0%. Take the rate from Table 5 of the ruling or from the IRS table, never from the printed AFR (computed from both tables).
Which month’s rate a valuation uses
The rule keys on the valuation date: “for the month in which the valuation date falls”. For a charitable gift the statute adds a choice: “If an income, estate, or gift tax charitable contribution is allowable for any part of the property transferred, the taxpayer may elect to use such Federal midterm rate for either of the 2 months preceding the month in which the valuation date falls”. So a September 2027 valuation date can use these rates:
| Month whose rate can be used | Section 7520 rate | Source |
|---|---|---|
| September 2027 (the valuation month itself) | not yet published | no ruling as of November 6, 2026 |
| August 2027 | not yet published | no ruling as of November 6, 2026 |
| July 2027 | not yet published | no ruling as of November 6, 2026 |
Only the first row applies when no charitable contribution is allowable for any part of the property. Which choice is better for a given gift is a calculation for the gift’s own numbers; this page lists the rates, not the answer.
When the September 2027 rate will appear
The rate for a month comes in the prescribed-rates revenue ruling issued the month before. The IRS’s copies of the 2026 rulings are dated between the 15th and the 21st of the month before the rate month (server dates read November 6, 2026), and Rev. Rul. 2026-21 is the newest, dated October 16, 2026. No ruling for September 2027 exists as of November 6, 2026. This page updates when the IRS publishes the September 2027 rate: the rate, its Table 5 and the change from November 2026 will replace this text.
Common mistakes
- Using the November 2026 rate as if it were the rate for this month. It is the most recent published rate and nothing more until the IRS publishes this month’s ruling.
- Recomputing the rate from the printed mid-term AFR. For November 2026 that gives 6.0%, while the IRS rate is 6.2%.
- Reading the mid-term AFR as the section 7520 rate. The rate is 120 percent of the mid-term AFR, rounded to the nearest two-tenths of one percent.
Related: the August 2027 section 7520 rate, the October 2027 section 7520 rate, the September 2027 AFR page, the section 7520 rate for every month, and the charitable remainder trust retest.
Find the right next step for your situation
About how much do you have invested? Pick the range that fits; your next step appears immediately below.
Compare vetted advisors for estate and gift planning
For U.S. investors with $250,000 or more in investable assets. WiserAdvisor is an independent service matching you with 2 to 3 vetted advisers. Its form asks for your ZIP code and answers to a few questions; a match is not guaranteed.
Free to request, with no obligation to hire. By submitting, you consent to calls, texts and emails from WiserAdvisor and up to three advisers. Advisers pay for introductions.
Clear Money Guide may earn a referral payment for a qualifying completed form. An introduction is not a Clear Money Guide recommendation.
Opens on WiserAdvisor’s site in a new tab.
See how an advisor plans your estate
Considering financial advice? Request an adviser introduction with no obligation to hire.
The form is run by Kapitalwise, our advisor-matching partner. Requesting an introduction is free. Submitting the form shares your contact details with advisers, so expect calls and texts. Advisers pay for introductions. Clear Money Guide may earn a referral payment for a qualifying submitted form, whether or not you hire anyone. A match is not guaranteed.
The Kapitalwise form opens here; you stay on this page.
What happens when you press the button
It asks about nine questions: age, investable assets, location; then your name, email and phone number, and verifies the phone by text. Nothing loads and nothing reaches Kapitalwise until you press the button.
Prefer flat-fee or hourly pricing instead? Compare ranges here.
Answer againSources
- Internal Revenue Service, Rev. Rul. 2026-21 (prescribed rates for November 2026, Table 5 the rate under section 7520): www.irs.gov
- Internal Revenue Service, Section 7520 interest rates (monthly table, with the 120% mid-term figure and the rounded rate): www.irs.gov
- 26 U.S.C. 7520, Valuation tables (U.S. Code, 2024 edition, U.S. Government Publishing Office): www.govinfo.gov
- Internal Revenue Service, Rev. Rul. 2026-2 (prescribed rates for January 2026, Table 5 the rate under section 7520): www.irs.gov
- Internal Revenue Service, Rev. Rul. 2026-3 (prescribed rates for February 2026, Table 5 the rate under section 7520): www.irs.gov
- Internal Revenue Service, Rev. Rul. 2026-6 (prescribed rates for March 2026, Table 5 the rate under section 7520): www.irs.gov
- Internal Revenue Service, Rev. Rul. 2026-7 (prescribed rates for April 2026, Table 5 the rate under section 7520): www.irs.gov
- Internal Revenue Service, Rev. Rul. 2026-9 (prescribed rates for May 2026, Table 5 the rate under section 7520): www.irs.gov
- Internal Revenue Service, Rev. Rul. 2026-11 (prescribed rates for June 2026, Table 5 the rate under section 7520): www.irs.gov
- Internal Revenue Service, Rev. Rul. 2026-12 (prescribed rates for July 2026, Table 5 the rate under section 7520): www.irs.gov
- Internal Revenue Service, Rev. Rul. 2026-13 (prescribed rates for August 2026, Table 5 the rate under section 7520): www.irs.gov
- Internal Revenue Service, Rev. Rul. 2026-17 (prescribed rates for September 2026, Table 5 the rate under section 7520): www.irs.gov
- Internal Revenue Service, Rev. Rul. 2026-19 (prescribed rates for October 2026, Table 5 the rate under section 7520): www.irs.gov
Read from the primary documents linked above on November 6, 2026. General information, not tax advice. Your own facts decide the outcome, and a preparer or the IRS itself is the right place to confirm anything consequential.