[Code of Federal Regulations] [Title 26, Volume 7] [Revised as of April 1, 2004] From the U.S. Government Printing Office via GPO Access [CITE: 26CFR1.581-1] [Page 308] TITLE 26--INTERNAL REVENUE CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) PART 1_INCOME TAXES--Table of Contents Sec. 1.581-1 Banks. (a) In order to be a bank as defined in section 581, an institution must be a corporation for federal tax purposes. See Sec. 301.7701-2(b) of this chapter for the definition of a corporation. (b) This section is effective as of January 1, 1997. [T.D. 8697, 61 FR 66588, Dec. 18, 1996] [[Page 309]]