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26 U.S.C. § 855 — Dividends paid by regulated investment company after close of taxable year
Federal law — U.S. Code and appendices · legal_authorities
**(a) General rule** For purposes of this chapter, if a regulated investment company—
(1) declares a dividend on or before the later of—
(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,
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.
**(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.
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Source file: Laws/federal/codes/united-states-code/title-26/section-855-dividends-paid-by-regulated-investment-company-after-close-of-taxable-ye--3fa85da089.md
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Source location: Title 26, Chapter 1, § 855; chapter-001-normal-taxes-and-surtaxes.md
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**(a) General rule** For purposes of this chapter, if a regulated investment company—
(1) declares a dividend on or before the later of—
(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,
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.
**(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.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Requirements applicable to regulated investment companies** The provisions of this part (other than subsection (c) of this section) shall not be applicable to a regulated investment company for a taxable year unless—
(1) the deduction for dividends paid during the taxable year (as defined in section 561, but without regard to capital gain dividends) equals or exceeds the sum of—
(A) 90 percent of its investment company taxable income for the taxable year determined without regard to subsection (b)(2)(D); and
(B) 90 percent of the excess of (i) its interest income excludable from gross income under section 103(a) over (ii) its deductions disallowed under sections 265 and 171(a)(2), and
(2) either—
(A) the provisions of this part applied to the investment company for all taxable years ending on or after November 8, 1983, or
(B) as of the close of the taxable year, the investment company has no earnings and profits accumulated in any taxable year to which the provisions of this part (or the corresponding provisions of prior law) did not apply to it.
The Secretary may waive the requirements of paragraph (1) for any taxable year if the regulated investment company establishes to the satisfaction of the Secretary that it was unable to meet such requirements by reason of distributions previously made to meet the requirements of section 4982.
**(b) Method of taxation of companies and shareholders**
(1) **Imposition of tax on regulated investment companies** — There is hereby imposed for each taxable year upon the investment company taxable income of every regulated investment company a tax computed as provided in section 11, as though the investment company taxable income were the taxable income referred to in section 11.
(2) **Investment company taxable
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 852
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Federal law — U.S. Code and appendices · legal_authorities
This subchapter may be cited as the “Investment Company Act of 1940”.
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 80a–51
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Married individuals filing joint returns and surviving spouses** There is hereby imposed on the taxable income of—
(1) every married individual (as defined in section 7703) who makes a single return jointly with his spouse under section 6013, and
(2) every surviving spouse (as defined in section 2(a)),
a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $36,90015% of taxable income. Over $36,900 but not over $89,150$5,535, plus 28% of the excess over $36,900. Over $89,150 but not over $140,000$20,165, plus 31% of the excess over $89,150. Over $140,000 but not over $250,000$35,928.50, plus 36% of the excess over $140,000. Over $250,000$75,528.50, plus 39.6% of the excess over $250,000.
**(b) Heads of households** There is hereby imposed on the taxable income of every head of a household (as defined in section 2(b)) a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $29,60015% of taxable income. Over $29,600 but not over $76,400$4,440, plus 28% of the excess over $29,600. Over $76,400 but not over $127,500$17,544, plus 31% of the excess over $76,400. Over $127,500 but not over $250,000$33,385, plus 36% of the excess over $127,500. Over $250,000$77,485, plus 39.6% of the excess over $250,000.
**(c) Unmarried individuals (other than surviving spouses and heads of households)** There is hereby imposed on the taxable income of every individual (other than a surviving spouse as defined in section 2(a) or the head of a household as defined in section 2(b)) who is not a married individual (as defined in section 7703) a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $22,10015% of taxable income. Over $22,100 but not over $53,50
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 1
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** For purposes of this title, the term “real estate investment trust” means a corporation, trust, or association—
(1) which is managed by one or more trustees or directors;
(2) the beneficial ownership of which is evidenced by transferable shares, or by transferable certificates of beneficial interest;
(3) which (but for the provisions of this part) would be taxable as a domestic corporation;
(4) which is neither (A) a financial institution referred to in section 582(c)(2), nor (B) an insurance company to which subchapter L applies;
(5) the beneficial ownership of which is held by 100 or more persons;
(6) subject to the provisions of subsection (k), which is not closely held (as determined under subsection (h)); and
(7) which meets the requirements of subsection (c).
**(b) Determination of status** The conditions described in paragraphs (1) to (4), inclusive, of subsection (a) must be met during the entire taxable year, and the condition described in paragraph (5) must exist during at least 335 days of a taxable year of 12 months, or during a proportionate part of a taxable year of less than 12 months.
**(c) Limitations** A corporation, trust, or association shall not be considered a real estate investment trust for any taxable year unless—
(1) it files with its return for the taxable year an election to be a real estate investment trust or has made such election for a previous taxable year, and such election has not been terminated or revoked under subsection (g);
(2) at least 95 percent (90 percent for taxable years beginning before January 1, 1980) of its gross income (excluding gross income from prohibited transactions) is derived from—
(A) dividends;
(B) interest;
(C) rents from real property;
(D) gain from the sale or other
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 856
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Imposition of tax** There is hereby imposed a tax on every regulated investment company for each calendar year equal to 4 percent of the excess (if any) of—
(1) the required distribution for such calendar year, over
(2) the distributed amount for such calendar year.
**(b) Required distribution** For purposes of this section—
(1) **In general** — The term “required distribution” means, with respect to any calendar year, the sum of—
(A) 98 percent of the regulated investment company’s ordinary income for such calendar year, plus
(B) 98.2 percent of the regulated investment company’s capital gain net income for the 1-year period ending on October 31 of such calendar year.
(2) **Increase by prior year shortfall** — The amount determined under paragraph (1) for any calendar year shall be increased by the excess (if any) of—
(A) the grossed up required distribution for the preceding calendar year, over
(B) the distributed amount for such preceding calendar year.
(3) **Grossed up required distribution** — The grossed up required distribution for any calendar year is the required distribution for such year determined—
(A) with the application of paragraph (2) to such taxable year, and
(B) by substituting “100 percent” for each percentage set forth in paragraph (1).
**(c) Distributed amount** For purposes of this section—
(1) **In general** — The term “distributed amount” means, with respect to any calendar year, the sum of—
(A) the deduction for dividends paid (as defined in section 561) during such calendar year, and
(B) any amount on which tax is imposed under subsection (b)(1) or (b)(3)(A) of section 852 for any taxable year ending in such calendar year.
(2) **Increase by prior year overdistribution** — The amount determined under parag
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 4982
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Federal law — U.S. Code and appendices · legal_authorities
Page 1974
TITLE 26—INTERNAL REVENUE CODE
§ 855
EFFECTIVE AND TERMINATION DATES OF 1980
AMENDMENT
Amendment by Pub. L. 96–223 applicable with respect
to taxable years beginning after Dec. 31, 1980, and be-
fore Jan. 1, 1982, see section 404(c) of Pub. L. 96–223, set
out as a note under section 265 of this title.
EFFECTIVE DATE OF 1964 AMENDMENT
Amendment by section 201(d)(8)–(10) of Pub. L. 88–272
applicable to dividends received after Dec. 31, 1964, in
taxable years ending after such date, see section 201(e)
of Pub. L. 88–272, set out as a note under section 22 of
this title.
Amendment by section 229(a)(4) of Pub. L. 88–272 ap-
plicable to taxable years of regulated investment com-
panies ending on or after Feb. 26, 1964, see section 229(c)
of Pub. L. 88–272, set out as a note under section 852 of
this title.
QUALIFIED DIVIDEND NOTICE PERIOD
Pub. L. 108–311, title IV, § 402(a)(5)(F), Oct. 4, 2004, 118
Stat. 1185, provided that: ‘‘With respect to any taxable
year of a regulated investment company or real estate
investment trust ending on or before November 30, 2003,
the period for providing notice of the qualified dividend
amount to shareholders under [former, as to 854(b)(2)]
sections 854(b)(2) and 857(c)(2)(C) of the Internal Rev-
enue Code of 1986, as amended by this section, shall not
expire before the date on which the statement under
section 6042(c) of such Code is required to be furnished
with respect to the last calendar year beginning in such
taxable year.’’
§ 855. Dividends paid by regulated investment
company after close of taxable year
(a) General rule
For purposes of this chapter, if a regulated in-
vestment company—
(1) declares a dividend on or before the later
of—
(A) the 15th day of the 9th month following
the close of the t
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 855
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.