Correct

Correct -
(1) In general. Except as provided in subparagraph (2), the term correct has the same meaning for purposes of this subpart K as in the section which imposes the second tier tax or the regulations thereunder.
(2) Special rules. The term correct means -
(i) For a second tier tax imposed by section 4942(b), reducing the amount of the undistributed income to zero,
(ii) For a second tier tax imposed by section 4943(b), reducing the amount of the excess business holdings to zero, and
(iii) For a second tier tax imposed by section 4944(b), removing the investment from jeopardy.

Source

26 CFR § 53.4963-1


Scoping language

None
Is this correct? or