26 U.S. Code § 855 - Dividends paid by regulated investment company after close of taxable year
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.
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.
The Investment Company Act of 1940, referred to in subsec. (a), is title I of act Aug. 22, 1940, ch. 686, 54 Stat. 789, which is classified generally to subchapter I (§ 80a–1 et seq.) of chapter 2D of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see section 80a–51 of Title 15 and Tables.
2014—Subsec. (a)(1). Pub. L. 113–295 inserted “on or” before “before” in introductory provisions.
2010—Subsec. (a). Pub. L. 111–325, § 304(c), in concluding provisions, inserted at end “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.”
Pub. L. 111–325, § 301(g)(2), substituted “and (c)” for “, (c) and (d)” in concluding provisions.
Subsec. (a)(1). Pub. L. 111–325, § 304(a), amended par. (1) generally. Prior to amendment, par. (1) read as follows: “declares a dividend prior to the time prescribed by law for the filing of its return for a taxable year (including the period of any extension of time granted for filing such return), and”.
Subsec. (a)(2). Pub. L. 111–325, § 304(b), substituted “the first dividend payment of the same type of dividend” for “the first regular dividend payment”.
Subsecs. (c), (d). Pub. L. 111–325, § 301(g)(1), redesignated subsec. (d) as (c) and struck out former subsec. (c). Text of former subsec. (c) read as follows: “In the case of amounts to which subsection (a) is applicable, any notice to shareholders required under this part with respect to such amounts shall be made not later than 60 days after the close of the taxable year in which the distribution is made.”
1988—Subsec. (b). Pub. L. 100–647 substituted “section 852(b)(7)” for “section 852(b)(6)”.
1986—Subsec. (b). Pub. L. 99–514, § 651(b)(1)(B), substituted “Except as provided in section 852(b)(6), amounts” for “Amounts”.
Subsec. (c). Pub. L. 99–514, § 655(a)(5), substituted “60 days” for “45 days”.
1976—Subsec. (a). Pub. L. 94–455 struck out “or his delegate” after “Secretary”.
1964—Subsec. (c). Pub. L. 88–272 substituted “45 days” for “30 days”.
1960—Subsec. (c). Pub. L. 86–779 substituted “this part” for “this subchapter”.
Amendment by Pub. L. 113–295 effective as if included in the provision of the Regulated Investment Company Modernization Act of 2010, Pub. L. 111–325, to which such amendment relates, with savings provision in certain cases of an election by a regulated investment company under section 852(b)(8) of this title, see section 205(f) of Pub. L. 113–295, set out as a note under section 852 of this title.
Amendment by Pub. L. 100–647 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99–514, to which such amendment relates, see section 1019(a) of Pub. L. 100–647, set out as a note under section 1 of this title.
Amendment by section 651(b)(1)(B) of Pub. L. 99–514 applicable to calendar years beginning after Dec. 31, 1986, see section 651(d) of Pub. L. 99–514, set out as an Effective Date note under section 4982 of this title.
Amendment by Pub. L. 88–272 applicable to taxable years of regulated investment companies 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.