97-19700. Inbound Grantor Trusts With Foreign Grantors; Correction

[Federal Register Volume 62, Number 144 (Monday, July 28, 1997)]
[Proposed Rules]
[Page 40316]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-19700]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Parts 1 and 301

[REG-252487-96]
RIN 1545-AU90


Inbound Grantor Trusts With Foreign Grantors; Correction

AGENCY: Internal Revenue Service, Treasury.

ACTION: Correction to correction of a notice of proposed rulemaking and 
notice of public hearing.

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SUMMARY: This document contains corrections to the correction of the 
proposed rulemaking and notice of public hearing (REG-252487-96), which 
was published in the Federal Register Tuesday, July 15, 1997 (62 FR 
37819), relating to the application of the grantor trust rules to 
certain trusts established by foreign persons.

FOR FURTHER INFORMATION CONTACT: M. Grace Fleeman [phone] (not a 
toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The correction notice that is the subject of this correction 
contains corrections to the notice of proposed rulemaking and notice of 
public hearing under sections 643, 671 and 672 of the Internal Revenue 
Code.

Need for Correction

    As published, the correction notice for REG-252487-96 contains 
errors which may prove to be misleading and are in need of 
clarification.

Correction of Publication

    Accordingly, the publication of the correction to notice of 
proposed rulemaking and notice of public hearing (REG-252487-96), which 
was the subject of FR Doc. 97-18444, is corrected as follows:
    1. On page 37819, column 1, in the preamble under the caption FOR 
FURTHER INFORMATION CONTACT: the language ``James Quinn, [phone] 
(not a toll-free number).'' is corrected to read ``M. Grace Fleeman 
[phone] (not a toll-free number).''.


Sec. 1.672(f)-3  [Corrected]

    2. On page 37819, column 2, Sec. 1.672(f)-3, amendatory instruction 
5, last two lines, the language ``paragraph heading `Owner is grantor.' 
is corrected to read `Death of grantor.' '' is corrected to read 
``paragraph heading `Owner is grantor.' '' is corrected to read 
`Grantor is owner.' ''.
Cynthia E. Grigsby,
Chief, Regulations Unit, Assistant Chief Counsel (Corporate).
[FR Doc. 97-19700 Filed 7-25-97; 8:45 am]
BILLING CODE 4830-01-P