[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]