26 U.S.C. § 858 | Dividends paid by real estate investment trust after close of taxable year

(a)

General rule

For purposes of this part, if a real estate investment trust—

(1)

declares a dividend before 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

(2)

distributes the amount of such dividend to shareholders or holders of beneficial interests in the 12-month period following the close of such taxable year and not later than the date of the first regular dividend payment made after such declaration,

the amount so declared and distributed shall, to the extent the trust elects in such return (and specifies in dollar amounts) in accordance with regulations prescribed by the Secretary, be considered as having been paid only during such taxable year, except as provided in subsections (b) and (c).

(b)

Receipt by shareholder

Except as provided in section 857(b)(9), amounts to which subsection (a) applies shall be treated as received by the shareholder or holder of a beneficial interest in the taxable year in which the distribution is made.

(c)

Notice to shareholders

In the case of amounts to which subsection (a) applies, any notice to shareholders or holders of beneficial interests required under this part with respect to such amounts shall be made not later than 30 days after the close of the taxable year in which the distribution is made (or mailed to its shareholders or holders of beneficial interests with its annual report for the taxable year).

Pub. L. 86–779, § 10(a)Sept. 14, 196074 Stat. 1008 Pub. L. 94–455, title XVIOct. 4, 197690 Stat. 1752 Pub. L. 99–514, title VIOct. 22, 1986100 Stat. 2304 Pub. L. 100–647, title I, § 1018(u)(27)Nov. 10, 1988102 Stat. 3591 Pub. L. 113–295, div. A, title II, § 220(m)Dec. 19, 2014128 Stat. 4036(Added , , ; amended , §§ 1604(h), title XIX, § 1906(b)(13)(A), , , 1834; , §§ 665(b)(2), 668(b)(1)(B), , , 2307; , , ; , , .)

Editorial Notes

Amendments

Pub. L. 113–2952014—Subsec. (b). substituted “857(b)(9)” for “857(b)(8)”.

Pub. L. 100–647, § 1018(u)(27)Pub. L. 99–5141988—Subsec. (b). , made technical correction to directory language of , see 1986 Amendment note below.

Pub. L. 99–514, § 668(b)(1)(B)Pub. L. 100–647, § 1018(u)(27)1986—Subsec. (b). , as amended by , substituted “Except as provided in section 857(b)(8), amounts” for “Amounts”.

Pub. L. 99–514, § 665(b)(2)Subsec. (c). , inserted “(or mailed to its shareholders or holders of beneficial interests with its annual report for the taxable year)”.

Pub. L. 94–4551976—Subsec. (a). , §§ 1604(h), 1906(b)(13)(A), inserted “(and specifies in dollar amounts)” after “to the extent the trust elects in such return” and substituted “paid only during such taxable year” for “paid during such taxable year”, and struck out “or his delegate” after “Secretary”.

Statutory Notes and Related Subsidiaries

Effective Date of 1988 Amendment

Pub. L. 100–647 Pub. L. 99–514 section 1019(a) of Pub. L. 100–647 section 1 of this titleAmendment by effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, , to which such amendment relates, see , set out as a note under .

Effective Date of 1986 Amendment

section 665(b)(2) of Pub. L. 99–514Dec. 31, 1986section 668(b)(1)(B) of Pub. L. 99–514Dec. 31, 1986section 669 of Pub. L. 99–514 section 856 of this titleAmendment by applicable to taxable years beginning after , and by applicable to calendar years beginning after , see , set out as a note under .

Effective Date of 1976 Amendment

section 1604(h) of Pub. L. 94–455 section 1608(d) of Pub. L. 94–455 section 856 of this titleFor effective date of amendment by , see , set out as a note under .

Effective Date

Dec. 31, 1960section 10(k) of Pub. L. 86–779 section 856 of this titleSection applicable with respect to taxable years of real estate investment trusts beginning after , see , set out as a note under .