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Internal Revenue Code of 1986

The official compilation of federal tax laws in the United States.

Regulated Investment Company (RIC)

A type of investment fund, like a mutual fund or ETF, that receives special tax treatment (it doesn't pay corporate income tax) if it distributes most of its income to investors and meets certain investment rules.

Qualifying Income

For a Regulated Investment Company, this refers to specific types of income (like dividends, interest, or gains from securities) that allow the fund to maintain its special tax status and avoid paying corporate income tax.

Precious Metals

Rare, naturally occurring metallic elements of high economic value, such as gold, silver, platinum, and palladium.

Taxable Year

The annual accounting period for which individuals and businesses calculate their income and file tax returns, typically the calendar year or a fiscal year.