[Code of Federal Regulations]
[Title 26, Volume 11]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.1291-1]

[Page 592]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1_INCOME TAXES--Table of Contents
 
Sec. 1.1291-1  Taxation of U.S. persons that are shareholders of PFICs 
that are not pedigreed QEFs.

    (a) through (d) [Reserved]
    (e) Exempt organization as shareholder--(1) In general. If the 
shareholder of a PFIC is an organization exempt from tax under this 
chapter, section 1291 and these regulations apply to such shareholder 
only if a dividend from the PFIC would be taxable to the organization 
under subchapter F.
    (2) Effective date. Paragraph (e)(1) of this section is applicable 
on and after April 1, 1992.

[T.D. 8750, 63 FR 13, Jan. 2, 1998. Redesignated by T.D. 8870, 65 FR 
5779, Feb. 7, 2000]