Sec. 3637. Authority for alternative remedies to address certain REIT distribution failures
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Subsection
(e)of section 562 is amended— by striking In the case of a real estate investment trust and inserting the following: In the case of a real estate investment trust , and by adding at the end the following new paragraph: In the case of a failure of a distribution by a real estate investment trust to comply with the requirements of subsection (c), the Secretary may provide an appropriate remedy to cure such failure in lieu of not considering the distribution to be a dividend for purposes of computing the dividends paid deduction if— the Secretary determines that such failure is inadvertent or is due to reasonable cause and not due to willful neglect, or such failure is of a type of failure which the Secretary has identified for purposes of this paragraph as being described in subparagraph (A). . The amendments made by this section shall apply to distributions in taxable years beginning after December 31, 2014.