Par. 4. Section 1.1361-0 is amended by adding entries for § 1.1361-1(j)(12) and (m) to read as follows:
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§ 1.1361-1 S corporation defined.
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(j) * * *
(12) Converting a QSST to an ESBT.
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(m) Electing small business trust (ESBT).
(1) Definition.
(2) ESBT election.
(3) Effect of ESBT election.
(4) Potential current beneficiaries.
(5) ESBT terminations.
(6) Revocation of ESBT election.
(7) Converting an ESBT to a QSST.
(8) Effective date.
(9) Examples.
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