Amended 2010
- 2010 Pub. L. 111-325 Pub. L. 111–325, § 301(g)(1), redesignated subsec. (d) as (c) and struck out former subsec. (c). Text of former subsec. (c) read as follows: “In the case of amounts to which subsection (a) is applicable, any notice to shareholders required under this part with respect to such amounts shall be made not later than 60 days after the close of the taxable year in which the distribution is made.”
(a) General rule For purposes of this chapter, if a regulated investment company—
Amended 1976, 2010
- 2010 Pub. L. 111-325 Pub. L. 111–325, § 304(c), in concluding provisions, inserted at end “For purposes of paragraph (2), a dividend attributable to any short-term capital gain with respect to which a notice is required under the Investment Company Act of 1940 shall be treated as the same type of dividend as a capital gain dividend.”
- 2010 Pub. L. 111-325 Pub. L. 111–325, § 301(g)(2), substituted “and (c)” for “, (c) and (d)” in concluding provisions.
- 1976 Pub. L. 94-455 Pub. L. 94–455 struck out “or his delegate” after “Secretary”.
Cited by 10
(1) declares a dividend on or before the later of—
Amended 2010, 2014
- 2014 Pub. L. 113-295 Pub. L. 113–295 inserted “on or” before “before” in introductory provisions.
- 2010 Pub. L. 111-325 Pub. L. 111–325, § 304(a), amended par. (1) generally. Prior to amendment, par. (1) read as follows: “declares a dividend prior to the time prescribed by law for the filing of its return for a taxable year (including the period of any extension of time granted for filing such return), and”.
(A) the 15th day of the 9th month following the close of the taxable year, or
(B) in the case of an extension of time for filing the company’s return for the taxable year, the due date for filing such return taking into account such extension, and
(2) distributes the amount of such dividend to shareholders in the 12-month period following the close of such taxable year and not later than the date of the first dividend payment of the same type of dividend made after such declaration,
Amended 2010
- 2010 Pub. L. 111-325 Pub. L. 111–325, § 304(b), substituted “the first dividend payment of the same type of dividend” for “the first regular dividend payment”.
Cited by 1
the amount so declared and distributed shall, to the extent the company elects in such return in accordance with regulations prescribed by the Secretary, be considered as having been paid during such taxable year, except as provided in subsections (b) and (c). For purposes of paragraph (2), a dividend attributable to any short-term capital gain with respect to which a notice is required under the Investment Company Act of 1940 shall be treated as the same type of dividend as a capital gain dividend.
(b) Receipt by shareholder Except as provided in section 852(b)(7), amounts to which subsection (a) is applicable shall be treated as received by the shareholder in the taxable year in which the distribution is made.
Amended 1986, 1988
- 1988 Pub. L. 100-647 Pub. L. 100–647 substituted “section 852(b)(7)” for “section 852(b)(6)”.
- 1986 Pub. L. 99-514 Pub. L. 99–514, § 651(b)(1)(B), substituted “Except as provided in section 852(b)(6), amounts” for “Amounts”.
Cited by 2
(c) Foreign tax election If an investment company to which section 853 is applicable for the taxable year makes a distribution as provided in subsection (a) of this section, the shareholders shall consider the amounts described in section 853(b)(2) allocable to such distribution as paid or received, as the case may be, in the taxable year in which the distribution is made.
Amended 1960, 1964, 1986, 2010
- 2010 Pub. L. 111-325 Pub. L. 111–325, § 301(g)(1), redesignated subsec. (d) as (c) and struck out former subsec. (c). Text of former subsec. (c) read as follows: “In the case of amounts to which subsection (a) is applicable, any notice to shareholders required under this part with respect to such amounts shall be made not later than 60 days after the close of the taxable year in which the distribution is made.”
- 1986 Pub. L. 99-514 Pub. L. 99–514, § 655(a)(5), substituted “60 days” for “45 days”.
- 1964 Pub. L. 88-272 Pub. L. 88–272 substituted “45 days” for “30 days”.
- 1960 Pub. L. 86-779 Pub. L. 86–779 substituted “this part” for “this subchapter”.