SECTION 3. SCOPE

This revenue procedure applies to: .01 Any Fund (or portion thereof) that holds Legacy Securities pursuant to the Public-Private Investment Program, provided the U.S. Government owns a significant equity interest in the Fund;

.02 Any entity substantially all the assets of which are equity interests in either a Fund described in section 3.01 or another entity described in this section 3.02 (For purposes of this section 3.02, U.S. Government securities held by a regulated investment company (RIC) or real estate investment trust (REIT) (or portion thereof) to fund the income distribution requirements contained in sections 852(a)(1), 857(a)(1), 860, 4981 and 4982 shall not be considered when determining whether substantially all the assets of an entity are, directly and indirectly, equity interests in a Fund); and

.03 Any portion of an entity which consists of an equity interest in a Fund described in section 3.01 or an entity described in section 3.02.

26 CFR 601.105: Examination of returns and claims for refund, credit or abatement; determination of cor- rect tax liability. (Also Part 1, §§ 7701(i); 301.7701(i)–4.)

Rev. Proc. 2009–38