Principal owner. For purposes of this section, the term principal owner means a person who owns (directly and with the application of 1.414(c)4)
(i) In the case of a corporation, 5 percent or more of the total combined voting power of all classes of stock entitled to vote in such corporation or 5 percent of more of the total value of shares of all classes of stock of such corporation;
(ii) In the case of a trust or estate, an actuarial interest of 5 percent or more of such trust or estate; or
(iii) In the case of a partnership, 5 percent or more of the profits or capital interest of such partnership.