[Code of Federal Regulations]
[Title 26, Volume 9]
[Revised as of April 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.897-8T]

[Page 550]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1--INCOME TAXES--Table of Contents
 
Sec. 1.897-8T  Status as a U.S. real property holding corporation as a condition for electing section 897(i) pursuant to Sec. 1.897-3 (temporary).

    (a) Purpose and scope. This section provides a temporary regulation 
that if and when adopted as a final regulation, will be added to 
paragraph (b) of Sec. 1.897-3. Paragraph (b) of this section would then 
appear as paragraph (b)(4) of Sec. 1.897-3.
    (b) General conditions. The foreign corporation upon making an 
election under section 897(i) (including any retroactive election) must 
qualify as a U.S. real property holding corporation as defined in 
paragraph (b)(1) of Sec. 1.897-2.
    (c) Effective Date. Section 1.897-8T shall be effective as of June 
6, 1988, with respect to foreign corporations making an election under 
section 897(i) after May 5, 1988.

[T.D. 8198, 53 FR 16229, May 5, 1988]