View all text of Subpart B [§ 1293 - § 1295]
§ 1295. Qualified electing fund
(a) General ruleFor purposes of this part, any passive foreign investment company shall be treated as a qualified electing fund with respect to the taxpayer if—
(1) an election by the taxpayer under subsection (b) applies to such company for the taxable year, and
(2) such company complies with such requirements as the Secretary may prescribe for purposes of—
(A) determining the ordinary earnings and net capital gain of such company, and
(B) otherwise carrying out the purposes of this subpart.
(b) Election
(1) In general
(2) When made
(Added Pub. L. 99–514, title XII, § 1235(a), Oct. 22, 1986, 100 Stat. 2571; amended Pub. L. 100–647, title I, § 1012(p)(37)(A), title VI, § 6127(a), Nov. 10, 1988, 102 Stat. 3522, 3715.)