[Code of Federal Regulations]
[Title 26, Volume 8]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.815-5]

[Page 659]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
Determination of Tax Liability--Table of Contents
 
Sec. 1.815-5  Other accounts defined.

    The term other accounts, as used in section 815(a)(3) and paragraph 
(b) of Sec. 1.815-2, means all amounts which are not specifically 
included in the shareholders surplus account under section 815(b) and 
paragraph (b) of Sec. 1.815-3, or in the policyholders surplus account 
under section 815(c) and paragraph (b) of Sec. 1.815-4. Thus, for 
example, other accounts includes amounts representing the increase in 
tax due to the operation of section 802(b)(3) which is not taken into 
account for the taxable years 1959 and 1960 because of the special 
transitional rule provided in section 802(a)(3) and Sec. 1.802-5, 
earnings and profits accumulated prior to January 1, 1958, paid-in 
surplus, capital, etc. To the extent that a distribution (or any portion 
thereof) is treated as being made out of other accounts, no tax is 
imposed on the company with respect to such distribution.

[T.D. 6535, 26 FR 544, Jan. 20, 1961]