applicable retained interest
Defined in 1 place of the United States Code.
The term “applicable retained interest” means any interest in an entity with respect to which there is—
(A) a distribution right, but only if, immediately before the transfer described in subsection (a)(1), the transferor and applicable family members hold (after application of subsection (e)(3)) control of the entity, or
(B) a liquidation, put, call, or conversion right.
Source
- 1994–present26 U.S.C. § 2701Internal Revenue Code · Special valuation rules in case of transfers of certain interests in corporations or partnerships · for purposes of this section