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Rev. Proc. 2021-53

SECTION 1. PURPOSE

Internal Revenue Bulletin 2021-51 · 2026-10-03 edition · updated 2026-10-04 · United States

This revenue procedure provides temporary guidance regarding the treatment of certain stock distributions by publicly offered real estate investment trusts (REITs) and publicly offered regulated investment companies (RICs) under the Internal Revenue Code (Code). Specifically, in recognition of the need for liquidity as a result of the impacts of the Coronavirus Disease 2019 (COVID-19) pandemic, this revenue procedure, like Rev. Proc. 2020-19, 2020-22 I.R.B. 871, modifies the safe harbor provided in Rev. Proc. 2017-45, 2017-35 I.R.B. 216, by temporarily reducing the minimum required aggregate amount of cash that distributee shareholders may receive to not less than 10 percent of the total distribution in order for § 301 of the Code, by reason of § 305(b) of the Code, to apply to such distribution. This temporary modification is effective solely with respect to distributions declared by a publicly offered REIT or publicly offered RIC on or after November 1, 2021, and on or before June 30, 2022.

Bulletin No. 2021–51 887 December 20, 2021

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▸Contents — Internal Revenue Bulletin 2021-51
Internal Revenue Bulletin 2021-51

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