For purposes of the waiver of the family attribution rules in a complete termination redemption, the former shareholder must notify the IRS within 30 days of acquiring a prohibited interest in the corporation during the 10-year period following the redemption.

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The IRS requires notification within 30 days if a former shareholder acquires a prohibited interest to ensure compliance with the waiver of family attribution rules.

For Purposes of the Waiver of the Family Attribution Rules