[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: 26CFR1.342-1]

[Page 178-179]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1_INCOME TAXES--Table of Contents
 
Sec. 1.342-1  General.

    The determination of whether a foreign corporation was a foreign 
personal holding company with respect to a taxable year beginning on or 
before, and ending after August 26, 1937, shall be made under section 
331 of the Revenue Act of 1936 (50 Stat. 818) and the regulations 
thereunder. For the purpose of

[[Page 179]]

section 342(a), a liquidation may be completed before the actual 
dissolution of the liquidating corporation. However, no liquidation 
shall be considered as completed until the liquidating corporation and 
the receiver (or trustees in liquidation) are finally divested of all 
the property, whether tangible or intangible.

                               definition