2024-08419. Taxes on Taxable Distributions From Donor Advised Funds Under Section 4966; Hearing

AGENCY:

Internal Revenue Service (IRS), Treasury.

ACTION:

Notice of proposed rulemaking; notice of hearing.

SUMMARY:

This document provides a notice of public hearing on proposed regulations regarding excise taxes on taxable distributions made by a sponsoring organization from a donor advised fund (DAF), and on the agreement of certain fund managers to the making of such distributions.

DATES:

The public hearing on these proposed regulations has been scheduled for Monday, May 6, 2024, at 10:00 a.m. ET and Tuesday, May 7, 2024, at 10:00 a.m. ET.

ADDRESSES:

On Monday, May 6, 2024, the public hearing will be held in the Auditorium, at the Internal Revenue Service Building, 1111 Constitution Avenue NW, Washington, DC. Due to security procedures, visitors must enter at the Constitution Avenue entrance. In addition, all visitors must present a valid photo identification to enter the building. Because of access restrictions, visitors will not be admitted beyond the immediate entrance area more than 30 minutes before the hearing starts. Participants may alternatively attend the public hearing by telephone.

On Tuesday, May 7, 2024, the public hearing will be held by telephone only.

FOR FURTHER INFORMATION CONTACT:

Concerning the proposed regulations, call Christopher A. Hyde at [phone] (not a toll-free number); concerning submissions of comments, the hearing and/or to be placed on the building access list to attend the public hearing, call Vivian Hayes (202-317-6901) (not a toll-free number) or by email to [e-mail] (preferred).

SUPPLEMENTARY INFORMATION:

The subject of the public hearing is the notice of proposed rulemaking (REG-142338-07) that was published in the Federal Register on Tuesday, November 14, 2023, (88 FR 77922).

Persons who wished to present oral comments at the public hearing were required to submit an outline of the topics to be discussed as well as the time to be devoted to each topic by April 5, 2024. This due date for requests to testify has not been extended. Persons who made timely requests to testify will receive the telephone number and access codes for the public hearing.

An agenda showing the scheduling of the speakers will be prepared after the deadline for receiving outlines has passed. Copies of the agenda will be available free of charge at the hearing, and via the Federal eRulemaking Portal ( www.Regulations.gov) under the title of Supporting & Related Material.

Individuals who want to attend the public hearing in person without testifying must send an email to [e-mail] to have your name added to the building access list. The subject line of the email must contain the regulation number REG-142338-07 and the language ATTEND In Person. For example, the subject line may say: Request to ATTEND Hearing In Person for REG-142338-07. Requests to attend the public hearing must be received by 5:00 p.m. ET on May 1, 2024.

Individuals who want to attend the public hearing by telephone without testifying must also send an email to [e-mail] to receive the telephone number and access code for the hearing. The subject line of the email must contain the regulation number REG-142338-07, and the language ATTEND Hearing Telephonically. For example, the subject line may say: Request to ATTEND Hearing Telephonically for REG-142338-07. Requests to attend the public hearing must be received by 5:00 p.m. ET on May 1, 2024.

Hearings will be made accessible to people with disabilities. To request special assistance during a hearing please contact the Publications and Regulations Section of the Office of Associate Chief Counsel (Procedure and Administration) by sending an email to [e-mail] (preferred) or by telephone at [phone] (not a toll-free number) by 5:00 p.m. ET on April 30, 2024.

Any questions regarding speaking at or attending a public hearing may also be emailed to [e-mail].

Oluwafunmilayo A. Taylor,

Section Chief, Publications and Regulations Section, Associate Chief Counsel (Procedure and Administration).