5-percent shareholder
Defined in 2 places of the United States Code.
For purposes of subparagraph (A), the term “5-percent shareholder” means any person who owns (directly or through the application of section 318(a)) more than 5 percent of the outstanding stock of the corporation which issued such qualified employer securities or of any corporation which is a member of the same controlled group of corporations (within the meaning of section 409(l)(4)) as such corporation. For purposes of the preceding sentence, section 318(a) shall be applied without regard to the exception in paragraph (2)(B)(i) thereof.
Source
- 1997–present26 U.S.C. § 664Internal Revenue Code · Charitable remainder trusts · for purposes of this section
The term “5-percent shareholder” means any person holding 5 percent or more of the stock of the corporation at any time during the testing period.
Source
- 1994–present26 U.S.C. § 382Internal Revenue Code · Limitation on net operating loss carryforwards and certain built-in losses following ownership change · for purposes of this section