Nonresident Aliens. A nonresident alien as defined in section 7701(b)(1)(B) is an eligible beneficiary of an ESBT. However, see paragraph (m)(4)(i) and (m)(5)(iii) of this section if the non- resident alien is a potential current beneficiary of the ESBT (which would result in an ineligible shareholder and termination of the S corporation elec- tion).
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