{"data":{"id":"us/26-cfr-1.851-1","jurisdiction":"us","citation":"26 CFR 1.851-1","heading":"-1 Definition of regulated investment company.","body":"(a) In general. The term “regulated investment company” is defined to mean any domestic corporation (other than a personal holding company as defined in section 542) which meets (1) the requirements of section 851(a) and paragraph (b) of this section, and (2) the limitations of section 851(b) and § 1.851-2. As to the definition of the term “corporation”, see section 7701(a)(3).\n(b) Requirement. To qualify as a regulated investment company, a corporation must be:\n(1) Registered at all times during the taxable year, under the Investment Company Act of 1940, as amended (15 U.S.C. 80a-1 to 80b-2), either as a management company or a unit investment trust, or\n(2) A common trust fund or similar fund excluded by section 3(c)(3) of the Investment Company Act of 1940 (15 U.S.C. 80a-3(c)) from the definition of “investment company” and not included in the definition of “common trust fund” by section 584(a).","path":["Title 26—Internal Revenue","CHAPTER I—INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY","SUBCHAPTER A—INCOME TAX","PART 1—INCOME TAXES"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-26.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:25:11Z","sha256":"60d0a0999fc6b76a8cf73548c3ff403a93fbf1ec9e81ca7b4c5b6ff30600eb8f","source_id":"us-cfr","stale":true,"prev":"us/26-cfr-1.849-1.850","next":"us/26-cfr-1.851-2"},"notice":"GroundRules: Original legal text. Not legal advice."}