Foreign corporation.
Foreign corporation. The term foreign corporation has the meaning ascribed to such term in section 7701(a) (3) and (5) and 301.77015. For purposes of sections 897 and 6039C, however, the term does not include a foreign corporation with respect to which there is in effect an election under section 897(i) and 1.8973 or section 897(k) and 1.8974 to be treated as a domestic corporation.