SECTION 7. CORPORATE — Internal Revenue Bulletin 2002-46

Statute or Regulation Act Postponed 3. Sec. 304(b)(3)(C) If certain requirements are met, section 304(a) does not apply to a transaction involving the formation of a bank holding company. One requirement is that within a specified period (generally 2 years) after control of a bank is acquired, stock constituting control of the bank is transferred to a bank holding company in connection with the bank holding company’s formation. 4. Sec. 332(b) and Treas. Reg. A corporation must completely liquidate a corporate subsidiary within the §§ 1.332–3 and 1.332–4 specified period.

Sec. 332(b) and Treas. Reg. A corporation must completely liquidate a corporate subsidiary within the §§ 1.332–3 and 1.332–4 specified period.
Sec. 338(d)(3) and (h), and Treas. An acquiring corporation must complete a “qualified stock purchase” of a target Reg. § 1.338–2 corporation’s stock within the specified acquisition period.
Sec. 338(d)(3) and (h), and Treas. An acquiring corporation must complete a “qualified stock purchase” of a target Reg. § 1.338–2 corporation’s stock within the specified acquisition period.
Sec. 338(g) and Treas. Reg. An acquiring corporation may elect to treat certain stock purchases as asset § 1.338–2 acquisitions. The election must be made within the specified period.
Sec. 338(g) and Treas. Reg. An acquiring corporation may elect to treat certain stock purchases as asset § 1.338–2 acquisitions. The election must be made within the specified period.
Sec. 338(h)(10) and Treas. Reg. An acquiring corporation and selling group of corporations may elect to treat § 1.338(h)(10)–1(c) certain stock purchases as asset purchases, and to avoid gain or loss upon the
Sec. 338(h)(10) and Treas. Reg. An acquiring corporation and selling group of corporations may elect to treat § 1.338(h)(10)–1(c) certain stock purchases as asset purchases, and to avoid gain or loss upon the

stock sale. The election must be made within the specified period. 8. Sec. 341 and Treas. Reg. A shareholder of a collapsible corporation must sell its stock in the corporation § 1.341–7 within the specified period.

Sec. 341 and Treas. Reg. A shareholder of a collapsible corporation must sell its stock in the corporation § 1.341–7 within the specified period.
Treas. Reg. An acquiring corporation files a Form 976, Claim for Deficiency Dividends § 1.381(c)(17)–1(c) Deduction by a Personal Holding Company, Regulated Investment Company, or
Treas. Reg. An acquiring corporation files a Form 976, Claim for Deficiency Dividends § 1.381(c)(17)–1(c) Deduction by a Personal Holding Company, Regulated Investment Company, or

Real Estate Investment Trust, within 120 days after the date of the determination under section 547(c) to claim a deduction of a deficiency dividend. 10. Treas. Reg. § 1.441–3(b) A personal service corporation may obtain the approval of the Commissioner to adopt, change, or retain an annual accounting period by filing Form 1128, Application to Adopt, Change or Retain a Tax Year, within such time as is provided in the administrative procedures published by the Commissioner. See Rev. Procs. 2002–38 and 2002–39. 11. Sec. 562(b)(1)(B) In the case of a complete liquidation (except in the case of a complete liquidation of a personal holding company or foreign personal holding company) occurring within 24 months after the adoption of a plan of liquidation, any distribution within such period pursuant to such plan shall, to the extent of the earnings and profits (computed without regard to capital losses) of the corporation for the taxable year in which such distribution is made, be treated as a dividend for purposes of computing the dividends paid deduction. 12. Sec. 562(b)(2) In the case of a complete liquidation of a personal holding company occurring within 24 months after the adoption of a plan of liquidation, the amount of any distribution within such period pursuant to such plan shall be treated as a dividend for purposes of computing the dividends paid deduction to the extent that such is distributed to corporate distributees and represents such corporate distributees’ allocable share of the undistributed personal holding company income for the taxable year of such distribution. 13. Sec. 1502 and Treas. Reg. A common parent must apply for permission to discontinue filing consolidated § 1.1502–75(c)(1)(i) returns within a specified period after the date of enactment of a law affecting

Sec. 1502 and Treas. Reg. A common parent must apply for permission to discontinue filing consolidated § 1.1502–75(c)(1)(i) returns within a specified period after the date of enactment of a law affecting

the computation of tax liability. 14. Sec. 6425 and Treas. Reg. Corporations applying for an adjustment of an overpayment of estimated § 1.6425–1 income tax must file Form 4466, Corporation Application for Quick Refund of

Corporations applying for an adjustment of an overpayment of estimated income tax must file Form 4466, Corporation Application for Quick Refund of Overpayment of Estimated Tax, on or before the 15 ^th day of the third month after the taxable year, or before the date the corporation first files its income tax return for such year, whichever is earlier.

November 18, 2002 856 2002–46 I.R.B.