{"identifier":"/us/usc/t26/s951B","title":26,"num":"\u00a7\u202f951B.","heading":"Amounts included in gross income of foreign controlled United States shareholders","text":"\u00a7\u202f951B.\nAmounts included in gross income of foreign controlled United States shareholders\n(a)\nIn general\nIn the case of any foreign controlled United States shareholder of a foreign controlled foreign corporation\u2014\n(1) this subpart (other than sections 951A, 951(b), and 957) shall be applied with respect to such shareholder (separately from, and in addition to, the application of this subpart without regard to this section)\u2014\n(A) by substituting \u201cforeign controlled United States shareholder\u201d for \u201cUnited States shareholder\u201d each place it appears therein, and\n(B) by substituting \u201cforeign controlled foreign corporation\u201d for \u201ccontrolled foreign corporation\u201d each place it appears therein, and\n(2) section 951A (and such other provisions of this subpart as provided by the Secretary) shall be applied with respect to such shareholder\u2014\n(A) by treating each reference to \u201cUnited States shareholder\u201d in such section as including a reference to such shareholder, and\n(B) by treating each reference to \u201ccontrolled foreign corporation\u201d in such section as including a reference to such foreign controlled foreign corporation.\n(b)\nForeign controlled United States shareholder\nFor purposes of this section, the term \u201cforeign controlled United States shareholder\u201d means, with respect to any foreign corporation, any United States person which would be a United States shareholder with respect to such foreign corporation if\u2014\n(1) section 951(b) were applied by substituting \u201cmore than 50 percent\u201d for \u201c10 percent or more\u201d, and\n(2) section 958(b) were applied without regard to paragraph (4) thereof.\n(c)\nForeign controlled foreign corporation\nFor purposes of this section, the term \u201cforeign controlled foreign corporation\u201d means a foreign corporation, other than a controlled foreign corporation, which would be a controlled foreign corporation if section 957(a) were applied\u2014\n(1) by substituting \u201cforeign controlled United States shareholders\u201d for \u201cUnited States shareholders\u201d, and\n(2) by substituting \u201csection 958(b) (other than paragraph (4) thereof)\u201d for \u201csection 958(b)\u201d.\n(d)\nRegulations\nThe Secretary shall prescribe such regulations or other guidance as may be necessary or appropriate to carry out the purposes of this section, including regulations or other guidance\u2014\n(1) to treat a foreign controlled United States shareholder or a foreign controlled foreign corporation as a United States shareholder or as a controlled foreign corporation, respectively, for purposes of provisions of this title other than this subpart (including any reporting requirement), and\n(2) with respect to the treatment of foreign controlled foreign corporations that are passive foreign investment companies (as defined in section 1297).","url":"https://projectusc.org/usc/t26/s951B.html","content":[{"t":"sec","id":"/us/usc/t26/s951B","children":[{"t":"num","text":"\u00a7\u202f951B."},{"t":"heading","text":"Amounts included in gross income of foreign controlled United States shareholders"},{"t":"subsec","id":"/us/usc/t26/s951B/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"In general"},{"t":"chapeau","text":"In the case of any foreign controlled United States shareholder of a foreign controlled foreign corporation\u2014"},{"t":"para","id":"/us/usc/t26/s951B/a/1","children":[{"t":"num","text":"(1)"},{"t":"chapeau","text":" this subpart (other than sections 951A, 951(b), and 957) shall be applied with respect to such shareholder (separately from, and in addition to, the application of this subpart without regard to this section)\u2014"},{"t":"subpara","id":"/us/usc/t26/s951B/a/1/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" by substituting \u201cforeign controlled United States shareholder\u201d for \u201cUnited States shareholder\u201d each place it appears therein, and","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t26/s951B/a/1/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" by substituting \u201cforeign controlled foreign corporation\u201d for \u201ccontrolled foreign corporation\u201d each place it appears therein, and","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t26/s951B/a/2","children":[{"t":"num","text":"(2)"},{"t":"chapeau","text":" section 951A (and such other provisions of this subpart as provided by the Secretary) shall be applied with respect to such shareholder\u2014"},{"t":"subpara","id":"/us/usc/t26/s951B/a/2/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" by treating each reference to \u201cUnited States shareholder\u201d in such section as including a reference to such shareholder, and","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t26/s951B/a/2/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" by treating each reference to \u201ccontrolled foreign corporation\u201d in such section as including a reference to such foreign controlled foreign corporation.","tail":"\n"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t26/s951B/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Foreign controlled United States shareholder"},{"t":"chapeau","text":"For purposes of this section, the term \u201cforeign controlled United States shareholder\u201d means, with respect to any foreign corporation, any United States person which would be a United States shareholder with respect to such foreign corporation if\u2014"},{"t":"para","id":"/us/usc/t26/s951B/b/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" section 951(b) were applied by substituting \u201cmore than 50 percent\u201d for \u201c10 percent or more\u201d, and","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t26/s951B/b/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" section 958(b) were applied without regard to paragraph (4) thereof.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t26/s951B/c","children":[{"t":"num","text":"(c)"},{"t":"heading","text":"Foreign controlled foreign corporation"},{"t":"chapeau","text":"For purposes of this section, the term \u201cforeign controlled foreign corporation\u201d means a foreign corporation, other than a controlled foreign corporation, which would be a controlled foreign corporation if section 957(a) were applied\u2014"},{"t":"para","id":"/us/usc/t26/s951B/c/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" by substituting \u201cforeign controlled United States shareholders\u201d for \u201cUnited States shareholders\u201d, and","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t26/s951B/c/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" by substituting \u201csection 958(b) (other than paragraph (4) thereof)\u201d for \u201csection 958(b)\u201d.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t26/s951B/d","children":[{"t":"num","text":"(d)"},{"t":"heading","text":"Regulations"},{"t":"chapeau","text":"The Secretary shall prescribe such regulations or other guidance as may be necessary or appropriate to carry out the purposes of this section, including regulations or other guidance\u2014"},{"t":"para","id":"/us/usc/t26/s951B/d/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" to treat a foreign controlled United States shareholder or a foreign controlled foreign corporation as a United States shareholder or as a controlled foreign corporation, respectively, for purposes of provisions of this title other than this subpart (including any reporting requirement), and","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t26/s951B/d/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" with respect to the treatment of foreign controlled foreign corporations that are passive foreign investment companies (as defined in section 1297).","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}