26 C.F.R. § 1.556-1 Definition.
Title 26 - Internal Revenue
Undistributed foreign personal holding company income is the amount which is to be included in the gross income of the United States shareholders under section 551(b) and §1.551–2. Undistributed foreign personal holding company income is the taxable income of the foreign personal holding company, as defined in section 63(a) (computed without regard to subchapter N, chapter 1 of the Code), and adjusted in the manner described in section 556(b) and §1.556–2, less the deduction for dividends paid (§§1.561–1 through 1.565–6). See §1.556–3 for an illustration of the computation of undistributed foreign personal holding company income.
Title 26: Internal Revenue
PART 1—INCOME TAXES (CONTINUED)
Foreign Personal Holding Companies
§ 1.556-1 Definition.