Rev. Proc. 64-14

A corporate United States shareholder electing to receive a minimum distribution under section 963 of the Internal Revenue Code of 1954 for a taxable year need not make such election by the 15th day of the third month following the close of such taxable year if that day occurs not later than 60 days after the regulations under section 963 of the Code are published in the Federal Register.

The election so made must be made with an amended return filed not later than the 15th day of the sixth month following the close of such taxable year.

If an extension of time is secured under section 6081(b) of the Code with respect to such taxable year, the election must still be made not later than the 15th day of the sixth month following the close of such taxable year. In such event, however, the election must be made either with the return required to be filed for such taxable year or, if a further extension of time for filing is requested under section 6081(a) of the Code, with the request for such further extension.

Distributions counting toward a minimum distribution for such taxable year must be received by the United States shareholder not later than the 15th day of the sixth month following the close of the taxable year.

¹ Based on Technical Information Release 540, dated Jan. 29, 1964.