In a taxpayer-friendly interpretation of new rules on regulated investment company (RIC) dividends received by non-resident aliens, Revenue Ruling 2005-31 (2005-21 I.R.B. 1) holds that a RIC may designate the maximum amount permitted in respect of its distributions as qualified dividends, capital-gain dividends, short-term capital gain dividends and interest-related dividends even if the designations cause inconsistent reporting of the RIC's income by its US shareholders and non-resident alien shareholders.
June 30 2005
