In general. If a corporation in any taxable year files a statement with respect to an expected net operating loss carryback from such taxable year, such corporation may extend the time for the payment of all or part of any tax imposed by subtitle A of the Code for the taxable year immediately preceding such taxable year to the extent and subject to the limitations provided in section 6164. A corporation may extend the time for payment with respect to only such taxes as meet the following requirements:

The tax must be one imposed by subtitle A of the Code;

The tax must be for the taxable year immediately preceding the taxable year of the expected net operating loss;

The tax must be shown on the return or must be assessed within the taxable year of the expected net operating loss; and

The tax must not have been paid or required to have been paid prior to the filing of the statement.

Statement for purpose of extending time for payment. (1) The time for payment of the tax is automatically extended upon the filing of a statement on Form 1138 by the corporation with the district director for the district where the tax is payable. The statement on Form 1138 must be filled out in accordance with the instructions accompanying the form, and all information required by the form and the instructions must be furnished by the taxpayer. The district director, upon request, will furnish a receipt for any statement filed. Such receipt will show the date the statement was filed.

The period of extension is that provided in section 6164(d) and § 1.6164-5 unless sooner terminated by action of either the district director or the corporation.