[Federal Register Volume 61, Number 55 (Wednesday, March 20, 1996)]
[Rules and Regulations]
[Pages 11306-11307]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-6624]
=======================================================================
-----------------------------------------------------------------------
[[Page 11307]]
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 8635]
RIN 1545-AS92
Nonbank Trustee Net Worth Requirements; Correction
AGENCY: Internal Revenue Service, Treasury.
ACTION: Correction to final regulations.
-----------------------------------------------------------------------
SUMMARY: This document contains corrections to final regulations (TD
8635) which were published in the Federal Register on Wednesday,
December 20, 1995 (60 FR 65547), and relates to nonbank trustees with
respect to the adequacy of net worth requirements that must be
satisfied in order to be or remain an approved nonbank trustee.
EFFECTIVE DATE: December 20, 1995.
FOR FURTHER INFORMATION CONTACT: Marjorie Hoffman, (202) 622-6030 (not
a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The final regulations that are the subject of these corrections are
under sections 401 and 408 of the Internal Revenue Code.
Need for Correction
As published, the final regulations (TD 8635) contain errors that
are misleading and in need of clarification.
Correction of Publication
Accordingly, the publication of the final regulations (TD 8635),
which was the subject of FR Doc. 95-30684, is corrected as follows:
Sec. 1.401(f)-1 [Corrected]
1. On page 65549, column 1, amendatory instruction 2. under ``Par.
4.'', line 1 is corrected by adding a closed quotation mark following
the number ``401(d)(1)''.
Sec. 1.408-2 [Corrected]
2. On page 65549, column 1, amendatory instruction 8. under ``Par.
5.'', line 3, the language ``the language `(n)(3) to (n)(7)' and'' is
corrected to read ``the language `(n)(3) to (7)' and''.
3. On page 65549, column 1, amendatory instruction 9. under ``Par.
5.'', in line 5, the language ``adding `the address prescribed by the''
is corrected to read ``adding `address prescribed by the''; and in the
last two lines, the language ``(e)(6)(9)(iv), and in the first sentence
of newly designated (e)(6)(v)(B).'' is corrected to read ``(e)(6)(iv),
and in the first sentence of newly designated (e)(7)(v)(B).''.
4. On page 65549, column 2, amendatory instruction 17. under ``Par.
5.'' is corrected to read as follows:
17. Removing the language ``subparagraph, subdivision (n)(3)(v)''
and adding ``paragraph (e)(5), and paragraph (e)(2)(v)'' in its place,
and removing the language ``subparagraph (n)(8)'' and adding
``paragraph (e)(7)'' in its place, in newly designated paragraph
(e)(5)(viii).
5. On page 65549, column 2, amendatory instruction 18. under ``Par.
5.'', line 3, the language ``(e)(5)(i)(A)(3)' in its place, and `` is
corrected to read ``(e)(5)(i)(A)(3)' in its place, and''.
6. On page 65549, column 2, amendatory instruction 20. under ``Par.
5.'' is corrected to read as follows:
20. Adding new paragraphs (e)(5)(ii) (A) and (D).
7. On page 65549, column 2, Sec. 1.408-2 (e)(5)(ii)(A), second line
from the bottom of the paragraph, the reference to ``paragraph
(e)(6)(ii)(B) and (C)'' is corrected to read ``paragraph (e)(5)(ii)(B)
and (C)''.
8. On page 65549, column 3, Sec. 1.408-2 (e)(5)(ii)(D), sixth line
from the top of the column, the reference to ``paragraph
(e)(5)(ii)(B)(2)'' is corrected to read ``paragraph (e)(5)(ii)(B)(2)''.
9. On page 65549, column 3, Sec. 1.408-2 (e)(5)(ii)(D), eighth line
from the top of the column, the reference to ``paragraph
(e)(5)(ii)(C)(2)'' is corrected to read ``paragraph (e)(5)(ii)(C)(2)''.
10. On page 65549, column 3, Sec. 1.408-2 (e)(5)(ii)(D)(2),
paragraph (c) of the Example, line 2, the reference to ``Sec. 1.408-2
(e)(6)(ii)(B)'' is corrected to read ``Sec. 1.408-2 (e)(5)(ii)(B)''.
11. On page 65550, column 1, Sec. 1.408-2 (e)(5)(ii)(D)(2),
paragraph (d) of the Example, line 2, the reference to ``Sec. 1.408-2
(e)(6)(ii)(C)'' is corrected to read ``Sec. 1.408-2 (e)(5)(ii)(C)''.
Michael L. Slaughter,
Acting Chief, Regulations Unit, Assistant Chief Counsel (Corporate).
[FR Doc. 96-6624 Filed 3-19-96; 8:45 am]
BILLING CODE 4830-01-P
