[Code of Federal Regulations]
[Title 26, Volume 18]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR301.7507-10]

[Page 558-559]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 301_PROCEDURE AND ADMINISTRATION--Table of Contents
 
                          Judicial Proceedings
 
Sec. 301.7507-10  Collection of tax after termination of immunity.

    If, in the case of a bank within section 7507(b), segregated assets 
(including earnings therefrom), in excess of those necessary for payment 
of outstanding deposits become available, such excess of segregated 
assets shall be applied toward satisfaction of accumulated outstanding 
taxes previously

[[Page 559]]

immune under the section, and not barred by the statute of limitations. 
But see Sec. 301.7507-3. Where sufficient segregated or unsegregated 
assets are available, statutory interest shall be collected with the 
tax. When unsegregated assets or earnings therefrom previously immune 
become available for tax collection, they will be available only for 
collection of taxes (including interest and other additions) becoming 
due after immunity ceases. See the example in paragraph (b) of Sec. 
301.7507-5.