2020-08113. Definitions and Reporting Requirements for Shareholders of Passive Foreign Investment Companies; Correcting Amendment  

  • Start Preamble

    AGENCY:

    Internal Revenue Service (IRS), Treasury.

    ACTION:

    Correcting amendment.

    SUMMARY:

    This document contains corrections to Treasury Decision 9806, which was published in the Federal Register on Wednesday, December 28, 2016. Treasury Decision 9806 contained final regulations that provided guidance on determining ownership of a passive foreign investment company (PFIC) and on certain annual reporting requirements for shareholders of PFICs to file Form 8621, “Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund.”

    DATES:

    These final regulations are effective on and after May 6, 2020, and are applicable on or after December 28, 2016.

    Start Further Info

    FOR FURTHER INFORMATION CONTACT:

    Martin V. Franks at (202) 317-5181 (not a toll-free number).

    End Further Info End Preamble Start Supplemental Information

    SUPPLEMENTARY INFORMATION:

    Background

    The final regulations (TD 9806) that are the subject of this correction are under sections 1291, 1298, 6038, and 6046 of the Internal Revenue Code.

    Need for correction

    As published December 28, 2016 (81 FR 95459), the final regulations (TD 9806; FR Doc. 2016-30712) contained errors that needs to be corrected.

    Start List of Subjects

    List of Subjects in 26 CFR Part 1

    • Income taxes
    • Reporting and recordkeeping requirements
    End List of Subjects

    Correction of Publication

    Accordingly, 26 CFR part 1 is corrected by making the following correcting amendment:

    Start Part

    PART 1—INCOME TAXES

    End Part Start Amendment Part

    1. The authority citation for part 1 is amended by removing the entry for §§ 1.1291-1T, 1.1291-9, 1.1291-9T, and 1.1298-1T and the entry for § 1.6046-1T to read in part as follows:

    End Amendment Part Start Authority

    Authority: 26 U.S.C. 7805, unless otherwise noted.

    End Authority
    * * * * *
    Start Signature

    Martin V. Franks,

    Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).

    End Signature End Supplemental Information

    [FR Doc. 2020-08113 Filed 5-5-20; 8:45 am]

    BILLING CODE 4830-01-P

Document Information

Effective Date:
5/6/2020
Published:
05/06/2020
Department:
Internal Revenue Service
Entry Type:
Rule
Action:
Correcting amendment.
Document Number:
2020-08113
Dates:
These final regulations are effective on and after May 6, 2020, and are applicable on or after December 28, 2016.
Pages:
26848-26848 (1 pages)
Docket Numbers:
TD 9806
RINs:
1545-BK66: Reporting Regulations Under Section 1298(f)
RIN Links:
https://www.federalregister.gov/regulations/1545-BK66/reporting-regulations-under-section-1298-f-
Topics:
Income taxes, Reporting and recordkeeping requirements
PDF File:
2020-08113.Pdf
Supporting Documents:
» Definitions and Reporting Requirements for Shareholders of Passive Foreign Investment Companies; Correcting Amendment
» Definitions and Reporting Requirements for Shareholders of Passive Foreign Investment Companies
» Definitions and Reporting Requirements for Shareholders of Passive Foreign Investment Companies; etc.; Correction
» Definitions and Reporting Requirements for Shareholders of Passive Foreign Investment Companies; Correction
» Definitions and Reporting Requirements for Shareholders of Passive Foreign Investment Companies: Insurance Income of a Controlled Foreign Corporation for Taxable Years Beginning After December 31, 1986
» Definitions and Reporting Requirements for Shareholders of Passive Foreign Investment Companies
CFR: (1)
26 CFR 1