non-REIT year

For purposes of the preceding sentence, the term “non-REIT year” means any taxable year to which the provisions of this part did not apply with respect to the entity. The Secretary may waive the requirements of paragraph (1) for any taxable year if the real estate investment trust establishes to the satisfaction of the Secretary that it was unable to meet such requirements by reason of distributions previously made to meet the requirements of section 4981.

Source

26 USC § 857(a)

---

Scoping language

None identified, default scope is assumed to be the parent (part II) of this section.

---

Is this correct? or