base period

(4) Base period For purposes of this subsection— (A) In general The term “base period” means, with respect to any taxable year, the 5 taxable years preceding such taxable year. (B) New private foundations, etc. If an organization has not been a private foundation throughout the base period referred to in subparagraph (A), the base period shall consist of the taxable years during which such foundation has been in existence.

Source

26 USC § 4940(e)(4)


Scoping language

None identified. Default scope is assumed to be the entire title.
Is this correct? or