Distribution requirements
(A) In general
(A)In general#
The distribution requirements of this paragraph are met with respect to any non-RIC year if, within the 90-day period beginning on the date of the determination (or within such longer period as the Secretary may permit), the investment company makes 1 or more qualified designated distributions and the amount of such distributions is not less than the excess of—
(i) the portion of the accumulated earnings and profits of the investment company (as of the date of the determination) which are attributable to the non-RIC year, over
(ii) any interest payable under paragraph (3).
(A)(i)#
the portion of the accumulated earnings and profits of the investment company (as of the date of the determination) which are attributable to the non-RIC year, over
(A)(ii)#
any interest payable under paragraph (3).
(B)Qualified designated distribution#
For purposes of this paragraph, the term “qualified designated distribution” means any distribution made by the investment company if—
(i) section 301 applies to such distribution, and
(ii) such distribution is designated (at such time and in such manner as the Secretary shall by regulations prescribe) as being taken into account under this paragraph with respect to the non-RIC year.
(B)(i)#
section 301 applies to such distribution, and
(B)(ii)#
such distribution is designated (at such time and in such manner as the Secretary shall by regulations prescribe) as being taken into account under this paragraph with respect to the non-RIC year.
(C)Effect on dividends paid deduction#
Any qualified designated distribution shall not be included in the amount of dividends paid for purposes of computing the dividends paid deduction for any taxable year.