[Code of Federal Regulations]
[Title 26, Volume 4]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.332-6]

[Page 71-72]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1_INCOME TAXES--Table of Contents
 
Sec. 1.332-6  Records to be kept and information to be filed with return.

    (a) Permanent records in substantial form shall be kept by every 
corporation receiving distributions in complete liquidation within the 
exception provided in section 332 showing the information required by 
this section to be submitted with its return. The plan of liquidation 
must be adopted by each of the corporations parties thereto; and the 
adoption must be shown by the acts of its duly constituted responsible 
officers, and appear upon the official records of each such corporation.
    (b) For the taxable year in which the liquidation occurs, or, if the 
plan of liquidation provides for a series of distributions over a period 
of more than one year, for each taxable year in which a distribution is 
received under the plan the recipient must file with

[[Page 72]]

its return a complete statement of all facts pertinent to the 
nonrecognition of gain or loss, including:
    (1) A certified copy of the plan for complete liquidation, and of 
the resolutions under which the plan was adopted and the liquidation was 
authorized, together with a statement under oath showing in detail all 
transactions incident to, or pursuant to, the plan.
    (2) A list of all the properties received upon the distribution, 
showing the cost or other basis of such properties to the liquidating 
corporation at the date of distribution and the fair market value of 
such properties on the date distributed.
    (3) A statement of any indebtedness of the liquidating corporation 
to the recipient corporation on the date the plan of liquidation was 
adopted and on the date of the first liquidating distribution. If any 
such indebtedness was acquired at less than face value, the cost thereof 
to the recipient corporation must also be shown.
    (4) A statement as to its ownership of all classes of stock of the 
liquidating corporation (showing as to each class the number of shares 
and percentage owned and the voting power of each share) as of the date 
of the adoption of the plan of liquidation, and at all times since, to 
and including the date of the distribution in liquidation. The cost or 
other basis of such stock and the date or dates on which purchased must 
also be shown.