Non cash liquidating distributions
Each of these parties has a priority in the order of claims to company assets.The most senior claims belong to secured creditors, followed by unsecured creditors, including bondholders, the government (if the company owes taxes) and employees (if the company owes them unpaid wages or other obligations).
Any liquidating distribution you receive is not taxable to you until you have recovered the basis of your stock.
Whether you report the loss as a long-term or short-term capital loss depends on how long you held the stock.
After the basis of your stock has been reduced to zero, you must report the liquidating distribution as a capital gain.
This is due to the T 3 system of settlement financial markets presently use in North America.
For a regular dividend the declaration date or announcement date is when a company's board of directors announces a distribution.