; limitations applicable to dividends received from catastrophic risk transfer company (a) Character of dividends Each catastrophic risk transfer company shall identify in a statement issued to each security holder the portion of its dividends paid with respect to the year, under the rules of section 860N, which are attributable to the following types of income of the catastrophic risk transfer company: (1) Interest. (2) Tax-exempt interest. (3) Qualified dividend income, within the meaning of subparagraph (B) of section 1(h)(11) of this title. (4) Dividends other than qualified dividend income. (5) Capital gains. (6) Insurance or reinsurance premiums. (b) Look through for taxation of dividends (1) General Except as provided in subsection (n) of section 871 or subsection (f) of section 881 of this title, each security holder shall be subject to taxation under this title on the dividends received from a catastrophic risk transfer company in the same manner as if such security holder had received the portions of each dividend identified on the statement provided under subsection (a) directly. (2) Dividend income In computing any deduction under section 243 with respect to the portion of a dividend identified on the statement under subsection (a) as dividend income referenced in paragraphs (3) or (4) of such subsection, such portion shall be treated as received from a corporation which is not a 20-percent owned corporation. (3) Capital gain income The portion of a dividend identified on the statement under subsection (a) as capital gain income referenced in paragraph (5) of such subsection shall be treated by the security holders as a gain from the sale or exchange of a capital asset held for more than 1 year. 860P. Dividends paid by catastrophic risk transfer company after close of taxable year (a) General rule For purposes of this chapter, if a catastrophic risk transfer company— (1) declares a dividend on or before the later of— (A) the 15th day of the 9th month following the close of the taxable year, or (B) in