Monday, June 28, 2004
Part XVI
Department of the Treasury Semiannual Regulatory Agenda
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DEPARTMENT OF THE TREASURY (TREAS)
DEPARTMENT OF THE TREASURY the Treasury to the DHS, where it is preferential trade programs, and the now known as the Bureau of Customs establishment of recordkeeping 31 CFR Subtitle A, Chs. I and II and Border Protection. Notwithstanding requirements. Accordingly, these the transfer of the Customs Service to regulations are now listed in the Semiannual Agenda DHS, the Act provides that the Secretary semiannual regulatory agenda of the AGENCY: Department of the Treasury. of the Treasury retains sole legal Departmental Offices of the Department ACTION: Semiannual regulatory agenda. authority over the customs revenue of the Treasury. Because of limitations functions, and authorizes the Secretary in the computer software used to to delegate any of this retained authority prepare the agenda, the agency SUMMARY: This notice is given pursuant to the Secretary of Homeland Security. information under the heading ‘‘For to the requirements of the Regulatory By Treasury Department Order No. 100- Further Information Contact’’ for these Flexibility Act (Pub. L. 96-354, 16, the Secretary of the Treasury regulations incorrectly indicates the September 19, 1980) and Executive delegated to the Secretary of Homeland Bureau of Customs and Border Order (E.O.) 12866 (‘‘Regulatory Security authority to prescribe Protection contact person is an Planning and Review,’’ September 30, regulations pertaining to the customs employee of the Department of the 1993), which require the publication by revenue functions. This Order further Treasury rather than the Department of the Department of a semiannual agenda provided that the Secretary of the Homeland Security. of regulations. Treasury retained the sole authority to The semiannual agenda and The FOR FURTHER INFORMATION CONTACT: The approve any such regulations Regulatory Plan of the Department of Agency Contact identified in the item concerning import quotas or trade bans; the Treasury conform to the Unified relating to that regulation. user fees; marking and labeling; Agenda format developed by the SUPPLEMENTARY INFORMATION: On copyright and trademark enforcement; Regulatory Information Service Center November 25, 2002, the President and the completion of entry or (RISC). signed the Homeland Security Act of substance of entry summary, including 2002 (the Act), establishing the duty assessment and collection, Dated: May 28, 2004. Department of Homeland Security classification, valuation, application of Richard S. Carro, (DHS). The Act transferred the U.S. the U.S. Harmonized Schedules, Senior Advisor to the General Counsel for Customs Service from the Department of eligibility or requirements for Regulatory Affairs. Departmental Offices—Proposed Rule Stage
Regulation Sequence Title Identifier Number Number
2366 Amendments to the Government Securities Act Regulations: Exemption for Holdings Subject to Fiduciary Stand- ards ...... 1505–AB06 2367 Terrorism Risk Insurance Program; Litigation Management ...... 1505–AB08 2368 Terrorism Risk Insurance Program; Additional Claims Issues ...... 1505–AB09 2369 Textiles and Textile Products Subject to Textile Trade Agreements ...... 1505–AB13 2370 Liquidation; Extension; Suspension ...... 1505–AB14 2371 19 CFR 12 Detention, Seizure, and Forfeiture of ‘‘Bootleg’’ Sound Recording and Music Videos of Live Musical Performances ...... 1505–AB15 2372 19 CFR 142 Reconciliation ...... 1505–AB16 2373 19 CFR 111 Remote Location Filing ...... 1505–AB20 2374 Uniform Rules of Origin ...... 1505–AB49 2375 Recordation of Copyrights and Enforcement Procedures To Prevent Importation of Piratical Articles ...... 1505–AB51 2376 Revision of Outbound Redelivery Procedures and Liabilities ...... 1505–AB52 2377 19 CFR 101 Centralization of the Continuous Bond Program at the CBP National Finance Center ...... 1505–AB54
Departmental Offices—Final Rule Stage
Regulation Sequence Title Identifier Number Number
2378 12 CFR 1805 Community Development Financial Institutions (CDFI) Program ...... 1505–AA92 2379 17 CFR 403.4 Amendments to the Government Securities Act Regulations: Customer Protection-Reserves and Custody of Securities ...... 1505–AA94 2380 31 CFR 501 Reporting and Procedures Regulations; Cuban Assets Control Regulations: Publication of Economic Sanctions Enforcement Guidelines ...... 1505–AA95 2381 31 CFR 1.8 to 1.12 Disclosure of Records in Litigation ...... 1505–AA97 2382 Terrorism Risk Insurance Program; Initial Claims Procedure Requirements ...... 1505–AB07 2383 19 CFR 4 Harbor Maintenance Fee ...... 1505–AB11
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TREAS
Departmental Offices—Final Rule Stage (Continued)
Regulation Sequence Title Identifier Number Number
2384 Donated Cargo Exemption From Harbor Maintenance Fee ...... 1505–AB12 2385 19 CFR 181 North American Free Trade Agreement (NAFTA)—Implementation of Duty-Deferral Program Provi- sions ...... 1505–AB17 2386 Country-of-Origin Marking...... 1505–AB21 2387 Expanded Methods of Payment of Duties, Taxes, Interest, and Fees ...... 1505–AB22 2388 19 CFR 4 User and Navigation Fees; Other Reimbursable Charges ...... 1505–AB24 2389 19 CFR 10 African Growth and Opportunity Act and Generalized System of Preferences ...... 1505–AB26 2390 Expanded Weekly Entry Procedure for Foreign Trade Zones ...... 1505–AB27 2391 19 CFR 10 United States-Caribbean Basin Trade Partnership Act and Caribbean Basin Initiative ...... 1505–AB28 2392 19 CFR 24 Reimbursable Customs Inspectional Services—Increase in Hourly Rate Charge ...... 1505–AB29 2393 19 CFR 12 Dog and Cat Protection Act ...... 1505–AB31 2394 19 CFR 10 Prototypes Used Solely For Product Development, Testing, Evaluation, or Quality Control Purposes .... 1505–AB32 2395 19 CFR 10 Preferential Treatment of Brassieres Under the United States-Caribbean Basin Trade Partnership Act 1505–AB33 2396 19 CFR 141 Single Entry for Unassembled or Disassembled Entities Imported on Multiple Conveyances ...... 1505–AB34 2397 19 CFR 10 Implementation of the Andean Trade Promotion and Drug Eradication Act ...... 1505–AB37 2398 Trade Benefits Under the African Growth and Opportunity Act ...... 1505–AB38 2399 19 CFR 24 Fees for Customs Processing at Express Courier Facilities ...... 1505–AB39 2400 Trade Benefits Under the Caribbean Basin Economic Recovery Act ...... 1505–AB40 2401 Tariff Treatment Related to Disassembly Operations Under the North American Free Trade Agreement (NAFTA) ... 1505–AB41 2402 Merchandise Processing Fees Eligible to be Claimed as Certain Types of Drawback Based on Substitution of Fin- ished Petroleum Derivatives ...... 1505–AB44 2403 19 CFR 10 United States - Chile Free Trade Agreement ...... 1505–AB47 2404 19 CFR 10 United States - Singapore Free Trade Agreement ...... 1505–AB48
Departmental Offices—Long-Term Actions
Regulation Sequence Title Identifier Number Number
2405 31 CFR ch II Possible Regulation of Access to Accounts at Financial Institutions Through Payment Service Pro- viders ...... 1505–AA74 2406 Financial Activities of Financial Subsidiaries ...... 1505–AA80 2407 Financial Subsidiaries...... 1505–AA81 2408 12 CFR 1501.2 Secretary’s Determination of Real Estate Brokerage ...... 1505–AA84 2409 12 CFR 1501.2 Secretary’s Determination of Other Activities Financial in Nature ...... 1505–AA85 2410 12 CFR 1806 Bank Enterprise Award (BEA) Program ...... 1505–AA91 2411 Terrorism Risk Insurance Program; Recoupments of Federal Share of Compensation for Insured Losses ...... 1505–AB10 2412 19 CFR 12 Entry of Softwood Lumber Shipments From Canada ...... 1505–AB18 2413 Entry of Softwood Lumber Shipments From Canada ...... 1505–AB23
Departmental Offices—Completed Actions
Regulation Sequence Title Identifier Number Number
2414 31 CFR 19 Common Rule Suspension and Debarment ...... 1505–AA86 2415 31 CFR 5 Treasury Debt Collection ...... 1505–AA90 2416 12 CFR 1805 Community Development Financial Institutions (CDFI) Program; Reporting Requirements ...... 1505–AA93 2417 19 CFR 142 Requirements for Future Customs Transactions When Payment To Customs on Prior Transactions is Delinquent and/or Dishonored ...... 1505–AB25 2418 Refund of Duties Paid on Imports of Certain Wool Products ...... 1505–AB43 2419 Import Restrictions Imposed on Archaeological Material Originating in Honduras ...... 1505–AB50
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TREAS
Financial Crimes Enforcement Network—Prerule Stage
Regulation Sequence Title Identifier Number Number
2420 Customer Identification Programs for Pawn Brokers ...... 1506–AA39
Financial Crimes Enforcement Network—Proposed Rule Stage
Regulation Sequence Title Identifier Number Number
2421 31 CFR 103 Amendment to the Bank Secrecy Act Regulations—Delegation of Authority To Assess Civil Money Penalties on Depository Institutions ...... 1506–AA08 2422 Customer Identification Programs for Travel Agents ...... 1506–AA38 2423 Customer Identification Programs for Loan and Finance Companies ...... 1506–AA40 2424 Customer Identification Programs for Sellers of Vehicles ...... 1506–AA41 2425 Imposition of Special Measures Against a Financial Institution and Its Subsidiaries as a Financial Institution of Pri- mary Money Laundering Concern ...... 1506–AA65 2426 Imposition of Special Measures Against a Financial Institution as a Financial Institution of Primary Money Laun- dering Concern ...... 1506–AA67 2427 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Travel Agencies ...... 1506–AA69 2428 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Loan and Finance Companies ...... 1506–AA73 2429 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Persons Involved in Real Estate Closings and Settlements ...... 1506–AA79 2430 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Busi- nesses Engaged in Vehicle Sales, Including Automobiles, Airplane, and Boat Sales ...... 1506–AA80
Financial Crimes Enforcement Network—Final Rule Stage
Regulation Sequence Title Identifier Number Number
2431 31 CFR 103 Amendment to the Bank Secrecy Act Regulations Regarding Reporting of Cross-Border Transpor- tation of Certain Monetary Instruments ...... 1506–AA15 2432 31 CFR 103 Amendment to the Bank Secrecy Act Regulations—Exemptions From the Requirement To Report Transactions in Currency ...... 1506–AA23 2433 31 CFR 103.30 Amendment to the Bank Secrecy Act Regulations—Requirement that Nonfinancial Trades or Busi- nesses Report Certain Currency Transactions ...... 1506–AA25 2434 31 CFR 103.175-103.178 Due Diligence Requirements for Correspondent Accounts and Private Banking Accounts 1506–AA29 2435 31 CFR 103.121 Customer Identification Programs for Banks, Savings Associations, and Credit Unions ...... 1506–AA31 2436 31 CFR 103.16 Financial Crimes Enforcement Network; Amendment to the Bank Secrecy Act Regulations Re- quirement That Insurance Companies Report Suspicious Transactions ...... 1506–AA36 2437 31 CFR 103.15 Amendment to the Bank Secrecy Act Regulations—Requirement That Mutual Funds Report Sus- picious Transactions ...... 1506–AA37 2438 31 CFR 103.184 Imposition of Special Measures Against the Country of Nauru ...... 1506–AA43 2439 Financial Crimes Enforcement; Amendments to the Bank Secrecy Act Regulations—Nomenclature Changes ...... 1506–AA61 2440 Imposition of Special Measures Against the Commercial Bank of Syria as a Financial Institution of Primary Money Laundering Concern ...... 1506–AA64 2441 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Mutual Funds ...... 1506–AA68 2442 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Insur- ance Companies ...... 1506–AA70 2443 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Invest- ment Advisors ...... 1506–AA71 2444 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Finan- cial Institutions ...... 1506–AA72 2445 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Money Services Businesses ...... 1506–AA74
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TREAS
Financial Crimes Enforcement Network—Final Rule Stage (Continued)
Regulation Sequence Title Identifier Number Number
2446 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Com- modity Trading Advisors ...... 1506–AA75 2447 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Opera- tors of a Credit Card System ...... 1506–AA76 2448 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Unreg- istered Investment Companies ...... 1506–AA77 2449 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Dealers in Precious Metals, Stones, or Jewels ...... 1506–AA78
Financial Crimes Enforcement Network—Long-Term Actions
Regulation Sequence Title Identifier Number Number
2450 31 CFR 103 Amendments to the Bank Secrecy Act Regulations—Special Reporting and Recordkeeping Require- ments—Money Services Businesses (MSBs) ...... 1506–AA19
Financial Crimes Enforcement Network—Completed Actions
Regulation Sequence Title Identifier Number Number
2451 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Requirement That Financial Institutions Es- tablish Anti-Money Laundering Programs ...... 1506–AA28 2452 31 CFR 103.56 Financial Crimes Enforcement Network; Delegation of Enforcement Authority Regarding the For- eign Bank Account Report Requirements ...... 1506–AA45 2453 Imposition of Special Measures Against Myanmar Mayflower Bank and Asia Wealth Bank ...... 1506–AA63
Financial Management Service—Proposed Rule Stage
Regulation Sequence Title Identifier Number Number
2454 31 CFR 245 Claims on Account of Treasury Checks ...... 1510–AA51 2455 31 CFR 206 Management of Federal Agency Receipts and Disbursements; Operation of the Cash Management Improvement Fund ...... 1510–AA86 2456 31 CFR 215 Withholding of District of Columbia, State, City, and County Income, or Employment Taxes by Fed- eral Agencies ...... 1510–AA90
Financial Management Service—Final Rule Stage
Regulation Sequence Title Identifier Number Number
2457 31 CFR 281 Foreign Exchange Operations ...... 1510–AA48 2458 31 CFR 256 Payments Under Judgment and Private Relief Acts ...... 1510–AA52 2459 31 CFR 285.5 Offset of Federal Payments (Other Than Tax Refund and Federal Benefit Payments) To Collect Past-Due, Legally Enforceable Nontax Debt ...... 1510–AA65 2460 31 CFR 285.7 Salary Offset ...... 1510–AA70 2461 31 CFR 285.8 Offset of Tax Refund Payment To Collect State Income Tax Obligations ...... 1510–AA78 2462 31 CFR 901.9 Federal Claims Collection Standard—Collection by Installments ...... 1510–AA91 2463 Federal Government Participation in the Automated Clearing House (ACH) ...... 1510–AA98 2464 Indorsement and Payment of Checks Drawn on the U.S. Treasury ...... 1510–AA99
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TREAS
Financial Management Service—Long-Term Actions
Regulation Sequence Title Identifier Number Number
2465 31 CFR 285.6 Offset of Federal Payments (Other Than Tax Refund and Federal Benefit Payments) To Collect Past-Due Debts Owed to States (Other Than Child Support) ...... 1510–AA66 2466 31 CFR 285.14 Public Dissemination of Identity of Delinquent Debtors ...... 1510–AA72 2467 31 CFR 223 Surety Bond Reimbursement Fund ...... 1510–AA85 2468 Payment of Federal Taxes and the Treasury Tax and Loan Program ...... 1510–AA96 2469 Federal Government Participation in the Automated Clearing House (ACH) ...... 1510–AA97
Financial Management Service—Completed Actions
Regulation Sequence Title Identifier Number Number
2470 31 CFR 240 Indorsement and Payment of Checks Drawn on the U.S. Treasury ...... 1510–AA45 2471 31 CFR 203 Payment of Federal Taxes and the Treasury Tax and Loan Program ...... 1510–AA79
Alcohol and Tobacco Tax and Trade Bureau—Proposed Rule Stage
Regulation Sequence Title Identifier Number Number
2472 27 CFR 7 Revision of Brewery Regulations and Issuance of Regulations for Taverns on Brewery Premises (Brewpubs) ...... 1513–AA02 2473 27 CFR 270 Determination of Tax and Recordkeeping on Large Cigars ...... 1513–AA16 2474 27 CFR 19, subpart W Proposed Revisions to the Distilled Spirits Plant Regulations ...... 1513–AA23 2475 27 CFR 9 Petition To Establish the ‘‘Santa Barbara Highlands’’ Viticultural Area ...... 1513–AA24 2476 27 CFR 44 Regulatory Changes From Customs Service Final Rule ...... 1513–AA26 2477 27 CFR 40 Shipments of Tobacco Products or Cigarette Papers or Tubes Without Payment of Tax ...... 1513–AA27 2478 27 CFR 17 Tax-Paid Distilled Spirits Used in Manufacturing Products Unfit for Beverage Use ...... 1513–AA37 2479 27 CFR 4 Proposed Addition of New Grape Variety Names for American Wines ...... 1513–AA42 2480 27 CFR 40 Marks, Labels, Notices and Bonds for, and Removal of, Tobacco Products, and Cigarette Papers and Tubes ...... 1513–AA49 2481 27 CFR 9 Petition To Establish ‘‘Santa Maria Bench’’ as a New American Viticultural Area ...... 1513–AA51 2482 27 CFR 40 In-Transit Stops of Tobacco Products, and Cigarette Papers and Tubes Without Payment of Tax ...... 1513–AA52 2483 27 CFR 9 Petition To Expand the Livermore Valley Viticultural Area ...... 1513–AA54 2484 27 CFR 9 San Francisco Bay and Central Coast Viticultural Areas—Boundary Realignment/Expansion ...... 1513–AA55 2485 Petition To Establish the ‘‘Fort Ross Seaview’’ Viticultural Area ...... 1513–AA64 2486 Petition To Establish the ‘‘Alexander Mountain’’ Viticultural Area ...... 1513–AA65 2487 27 CFR 9 Petition To Establish ‘‘Grand Lake O’ the Cherokees’’ as a New American Viticultural Area ...... 1513–AA66 2488 Petition No. 2 To Expand the Russian River Valley Viticultural Area ...... 1513–AA67 2489 Petition To Establish the ‘‘Shawnee Hills’’ Viticultural Area ...... 1513–AA70 2490 Proposed Amended Boundaries for the Santa Lucia Highlands and the Arroyo Seco Viticultural Area ...... 1513–AA72 2491 Petition To Establish ‘‘Texoma’’ As a Viticultural Area ...... 1513–AA77 2492 Petition To Establish the ‘‘High Valley’’ Viticultural Area ...... 1513–AA79 2493 Proposed Establishment of Alta Mesa Viticultural Area ...... 1513–AA82 2494 Proposed Establishment of the Cosumnes River Viticultural Area ...... 1513–AA83 2495 Proposed Establishment of Deer Creek Hills Viticultural Area ...... 1513–AA84 2496 Proposed Establishment of Mokelumne River Viticultural Area ...... 1513–AA85 2497 Proposed Establishment of Jahant Viticultural Area ...... 1513–AA86 2498 Proposed Establishment of Borden Ranch Viticultural Area ...... 1513–AA87 2499 Proposed Establishment of Clements Hills Viticultural Area ...... 1513–AA88 2500 Proposed Establishment of the Mt. Oso Viticultural Area ...... 1513–AA89 2501 Proposed Establishment of Covelo Viticultural Area ...... 1513–AA90 2502 Proposed Establishment of Horse Heaven Hills ...... 1513–AA91 2503 Petition to Establish ‘‘Calistoga’’ As an American Viticultural Area ...... 1513–AA92 2504 Ramona Valley Viticultural Area ...... 1513–AA94 2505 Dos Rios Viticultural Area ...... 1513–AA95
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TREAS
Alcohol and Tobacco Tax and Trade Bureau—Final Rule Stage
Regulation Sequence Title Identifier Number Number
2506 27 CFR 9 Petition To Establish ‘‘Alexandria Lakes’’ as a New American Viticultural Area ...... 1513–AA45 2507 Administrative Changes to Alcohol, Tobacco, and Firearms Regulations Due to the Homeland Security Act of 2002 1513–AA80 2508 27 CFR 275 Implementation of Public Law 105-33, Section 9302, Requiring the Qualification of Tobacco Product Importers and Miscellaneous Technical Amendments ...... 1513–AA10 2509 27 CFR 7 Flavored Malt Beverages and Related Proposals ...... 1513–AA12 2510 27 CFR 275 Tobacco Products and Cigarette Papers and Tubes Shipped from Puerto Rico to the United States ... 1513–AA17 2511 27 CFR 270 Elimination of Statistical Classes for Large Cigars ...... 1513–AA18 2512 27 CFR 31 Liquor Dealers; Recodification of Regulations ...... 1513–AA19 2513 27 CFR 41 Importation of Tobacco Products and Cigarette Papers and Tubes; Recodification of Regulations ...... 1513–AA20 2514 27 CFR 24 Production of Dried Fruit and Honey Wines ...... 1513–AA21 2515 27 CFR 9 Proposed ‘‘San Bernabe’’ Viticultural Area ...... 1513–AA28 2516 27 CFR 9 Petition To Establish the ‘‘Trinity Lake’’ Viticultural Area ...... 1513–AA29 2517 27 CFR 4 Proposal To Recognize Synonyms for Petite Sirah and Zinfandel Grape Varieties ...... 1513–AA32 2518 27 CFR 9 Petition To Establish ‘‘Red Hills Lake County’’ American Viticultural Area ...... 1513–AA33 2519 27 CFR 9 Petition for the Establishment of ‘‘Red Hill’’ as an American Viticultural Area ...... 1513–AA39 2520 27 CFR 9 Petition To Establish ‘‘Eola Hills’’ as a New American Viticultural Area ...... 1513–AA41 2521 27 CFR 4 Organic Claims in Labeling and Advertising of Alcohol Beverages ...... 1513–AA46 2522 27 CFR 9 Petition To Establish ‘‘Dundee Hills’’ as a New American Viticultural Area ...... 1513–AA50 2523 27 CFR 9 Petition To Establish ‘‘Chehalem Mountains’’ as a New American Viticultural Area ...... 1513–AA57 2524 27 CFR 9 Petition To Establish ‘‘Ribbon Ridge’’ as a New American Viticultural Area ...... 1513–AA58 2525 27 CFR 9 Petition To Establish ‘‘Yamhill-Carlton District’’ as a New American Viticultural Area ...... 1513–AA59 2526 27 CFR 7 Labeling and Advertising of Malt Beverages ...... 1513–AA60 2527 Petition To Establish ‘‘McMinnville’’ as an American Viticultural Area in Oregon ...... 1513–AA63 2528 Petition To Establish the ‘‘Salado Creek’’ Viticultural Area ...... 1513–AA69 2529 Petition To Establish ‘‘Southern Oregon’’ As a Viticultural Area ...... 1513–AA75 2530 Removal of Requirement To Disclose Saccharin in the Labeling of Wine, Distilled Spirits and Malt Beverage ...... 1513–AA93
Alcohol and Tobacco Tax and Trade Bureau—Long-Term Actions
Regulation Sequence Title Identifier Number Number
2531 27 CFR 4 Prohibition of Alcohol Beverage Containers and Standard of Fill for Distilled Spirits and Wine ...... 1513–AA07 2532 27 CFR 252 Exportation of Liquors ...... 1513–AA00 2533 27 CFR 24.278 Implementation of Wine Credit Provisions of Public Law 104-188 ...... 1513–AA05 2534 27 CFR 24.66 Implementation of Public Law 105-34, Section 1416, Relating to Refund of Tax for Domestic Wine Returned to Bond Regardless of Merchantability (Taxpayer Relief Act of 1997) ...... 1513–AA06 2535 27 CFR 4 Amended Standard of Identity for Sherry ...... 1513–AA08 2536 27 CFR 275 Prohibited Marks on Packages of Tobacco Products and Cigarette Papers and Tubes Imported or Brought into the United States ...... 1513–AA14 2537 27 CFR 4.32(d) Removal of Requirement To Disclose Saccharin in the Labeling of Wine, Distilled Spirits, and Malt Beverages ...... 1513–AA15 2538 31 CFR 8 Eliminate Requirement To Enroll To Practice Before the Bureau ...... 1513–AA62
Alcohol and Tobacco Tax and Trade Bureau—Completed Actions
Regulation Sequence Title Identifier Number Number
2539 27 CFR 7 Alcoholic Content Labeling for Malt Beverages ...... 1513–AA01 2540 Sake Regulations...... 1513–AA11 2541 27 CFR 9 Petition To Establish ‘‘Seneca Lake’’ as an American Viticultural Area ...... 1513–AA34 2542 27 CFR 9 Petition To Establish ‘‘Bennett Valley’’ as an American Viticultural Area ...... 1513–AA36 2543 27 CFR 9 Petition To Change the Temecula Viticultural Area’s Name to Temecula Valley ...... 1513–AA40 2544 27 CFR 9 Petition To Establish ‘‘Columbia Gorge’’ as a New American Viticultural Area ...... 1513–AA43 2545 27 CFR 9 Petition To Establish ‘‘Oak Knoll District’’ as a New American Viticultural Area ...... 1513–AA48 2546 27 CFR 9 Petition To Establish ‘‘Snake River Valley’’ as a New Viticultural Area ...... 1513–AA53
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TREAS
Alcohol and Tobacco Tax and Trade Bureau—Completed Actions (Continued)
Regulation Sequence Title Identifier Number Number
2547 Electronic Signatures; Electronic Submission of Forms to TTB ...... 1513–AA61 2548 Petition No. 1 To Expand the Russian River Valley Viticultural Area ...... 1513–AA68 2549 Exportation of Liquors: Recodification of Regulations: Administrative Changes Due to the Homeland Security Act of 2002 ...... 1513–AA76 2550 Evidence of Exportation for Distilled Spirits; Use of Alternative Documentation ...... 1513–AA78
Comptroller of the Currency—Proposed Rule Stage
Regulation Sequence Title Identifier Number Number
2551 Recordkeeping Requirements for Bank Exceptions From Securities Broker or Dealer Registration ...... 1557–AB93 2552 12 CFR 19 Maintenance of Records ...... 1557–AB99 2553 12 CFR 4 Rules, Policies, and Procedures for Corporate Activities; Licensing Procedures ...... 1557–AC79 2554 Identity Theft Detection, Prevention, and Mitigation Program for Financial Institutions and Creditors ...... 1557–AC87 2555 Fair Credit; Affiliate Marketing Regulations ...... 1557–AC88 2556 Implementation of a Revised Basel Capital Accord (Basel II) ...... 1557–AC91
Comptroller of the Currency—Final Rule Stage
Regulation Sequence Title Identifier Number Number
2557 12 CFR 25 Community Reinvestment Act Regulation (12 CFR 25) ...... 1557–AB98 2558 12 CFR 5 Rules, Policies, and Procedures for Corporate Activities ...... 1557–AC11 2559 Electronic Filing and Disclosure of Beneficial Ownership Reports ...... 1557–AC75 2560 Risk-Based Capital; Capital Adequacy Guidelines; Capital Maintenance: Interim Capital Treatment of Consolidated Asset-Backed Commercial Paper Program Assets ...... 1557–AC76 2561 Rules, Policies, and Procedures for Corporate Activities (Operating Subsidiary Annual Report) ...... 1557–AC81 2562 12 CFR 19.240 Rules, Policies, and Procedures for Corporate Activities; Civil Monetary Penalties Adjustment ...... 1557–AC82 2563 Lending Limits Pilot Program ...... 1557–AC83 2564 12 CFR 30 app B Proper Disposal of Consumer Information ...... 1557–AC84 2565 Fair Credit Reporting Regulations; Use of Medical Information; FACT Act ...... 1557–AC85 2566 Community Reinvestment Act Regulations ...... 1557–AC86 2567 Securities Borrowing Transactions ...... 1557–AC90
Comptroller of the Currency—Long-Term Actions
Regulation Sequence Title Identifier Number Number
2568 Fair Credit Reporting Regulations ...... 1557–AB78 2569 Interagency Proposal To Consider Alternative Forms of Privacy Notices Under the Gramm-Leach-Bliley Act ...... 1557–AC80 2570 Accuracy and Integrity of Information Furnished to a Consumer Reporting Agency ...... 1557–AC89
Comptroller of the Currency—Completed Actions
Regulation Sequence Title Identifier Number Number
2571 12 CFR 3 Capital Rules ...... 1557–AB14 2572 Rules and Procedures for Claims Against OCC-Appointed Receiverships for Uninsured Financial Institutions ...... 1557–AB59 2573 12 CFR 5 Rules, Policies, and Procedures for Corporate Activities and Bank Activities and Operations ...... 1557–AB97 2574 12 CFR 28 International Banking Activities ...... 1557–AC04 2575 12 CFR 30 Interagency Guidelines Establishing Standards for Safety and Soundness ...... 1557–AC08
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TREAS
Comptroller of the Currency—Completed Actions (Continued)
Regulation Sequence Title Identifier Number Number
2576 12 CFR 11 Reporting and Disclosure Requirements for National Banks With Securities Registered Under the Se- curities Exchange Act of 1934; Securities Offering Disclosure Rules ...... 1557–AC12 2577 12 CFR 5 Rules, Policies, and Procedures for Corporate Activities (Electronic Filings) ...... 1557–AC13 2578 12 CFR 7 Bank Activities and Operations; Real Estate Lending and Appraisals ...... 1557–AC73 2579 Risk-Based Capital; Capital Adequacy Guidelines; Capital Maintenance: Asset-Backed Commercial Paper Pro- grams and Early Amortization Provisions ...... 1557–AC77 2580 Bank Activities and Operations ...... 1557–AC78
Internal Revenue Service—Prerule Stage
Regulation Sequence Title Identifier Number Number
2581 Communications Excise Tax; Taxable Communication Services ...... 1545–BB04 2582 Guidance Regarding Application of Section 265(a)(2) and 246A in Transactions Involving Related Parties, Pass- Through Entities, or Other Intermediaries ...... 1545–BC24 2583 Regulations Governing the Performance of Actuarial Services Under the Employee Retirement Income Security Act of 1974 ...... 1545–BC82 2584 Deemed IRAs in Governmental Plans/Qualified Nonbank Trustee Rules ...... 1545–BD07 2585 REMIC Interest-Only Regular Interests ...... 1545–BD18
Internal Revenue Service—Proposed Rule Stage
Regulation Sequence Title Identifier Number Number
2586 Foreign Insurance Companies ...... 1545–AL82 2587 Computation of a Branch’s Taxable Income; Taxation of Exchange Gain or Loss on Branch Remittances ...... 1545–AM12 2588 Outbound Transfers of Property to Foreign Corporations ...... 1545–AM97 2589 Foreign Insurance Company—Domestic Election ...... 1545–AO25 2590 Fringe Benefit Sourcing Under Section 861 ...... 1545–AO72 2591 Taxation of Global Trading ...... 1545–AP01 2592 Information Reporting and Record Maintenance ...... 1545–AP10 2593 Integrated Financial Transaction ...... 1545–AR20 2594 Foreign Trusts Regulations ...... 1545–AR25 2595 Treatment of Dual Consolidated Losses ...... 1545–AR26 2596 Agreements for Payment of Tax Liabilities in Installments ...... 1545–AU97 2597 Substantiating Travel Expense Deductions for Members of Congress ...... 1545–AV55 2598 Foreign Tax Credit Anti-Abuse Regulation ...... 1545–AV97 2599 Transportation of Persons and Property by Air ...... 1545–AW19 2600 Rules for Sourcing Certain Transportation Income, Space, or Ocean Activity Income, and Related Foreign Base Company Shipping Income ...... 1545–AX02 2601 Definition of Accounting Method ...... 1545–AX21 2602 Inspection of Written Determinations ...... 1545–AX40 2603 Awarding of Costs and Certain Fees ...... 1545–AX46 2604 Highly Compensated Employee ...... 1545–AX48 2605 Modification to Section 367(a) Stock Transfer Regulations ...... 1545–AX77 2606 Definition of Passive Foreign Investment Company Under Section 1297 ...... 1545–AX78 2607 Clarification of Foreign-Based Company Sales Income Rules ...... 1545–AX91 2608 Guidance on Changes to the Laws for Corporate Estimated Taxes ...... 1545–AY22 2609 Taxable Years of Controlled Foreign Corporations (CFCs) and Foreign Personal Holding Companies (FPHCs) ...... 1545–AY30 2610 Dollar-Value LIFO...... 1545–AY39 2611 Special Rules Relating to Transfers of Intangibles to Foreign Corporations ...... 1545–AY41 2612 Previously Taxed Earnings and Profits Under Subpart F ...... 1545–AY54 2613 Normal Retirement Age for Pension Plans ...... 1545–AY61 2614 Liabilities Assumed in Certain Corporate Transactions ...... 1545–AY74 2615 Disclosure of Returns and Return Information in Judicial and Administrative Tax Proceedings ...... 1545–AY89
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TREAS
Internal Revenue Service—Proposed Rule Stage (Continued)
Regulation Sequence Title Identifier Number Number
2616 Transitional Relief for Qualified Intermediaries ...... 1545–AY92 2617 Transactions Involving Obligations of Consolidated Group Members ...... 1545–BA11 2618 Deductibility of Employer Contributions for Deferred Compensation ...... 1545–BA13 2619 Gasoline Tax Claims ...... 1545–BA27 2620 Suspension of Statutes of Limitation in John Doe and Third-Party Summons Disputes, and Expansion of Tax- payers’ Rights To Receive Notice and Seek Judicial Review of Third Party Summonses ...... 1545–BA31 2621 Income From Sources Within Specified Possession ...... 1545–BA37 2622 Treatment of Certain Obligation-Shifting Transactions ...... 1545–BA41 2623 Multifamily Housing Bonds ...... 1545–BA45 2624 Modification of Check the Box Regulations ...... 1545–BA59 2625 Allocation and Apportionment Rules: Guidance on Selected Issues ...... 1545–BA64 2626 Provisions Regarding Cross-Border Transactions ...... 1545–BA65 2627 Circular 230—Phase 2 Nonshelter Revisions ...... 1545–BA72 2628 Allocation of New Markets Tax Credit ...... 1545–BA84 2629 Transfer of Notes or Stock To Provide for Satisfaction of Contested Liabilities ...... 1545–BA90 2630 Guidance To Facilitate Electronic Tax Administration ...... 1545–BA96 2631 Timely Mailing Treatment ...... 1545–BA99 2632 Hand Carry Returns ...... 1545–BB00 2633 Cost Sharing...... 1545–BB26 2634 Application of Separate Limitations to Dividends From Noncontrolled Section 902 Corporation ...... 1545–BB28 2635 Amending the Low-Income Housing Tax Credit Program ...... 1545–BB37 2636 Election Out Generation-Skipping Transfer Tax (GST) Deemed Allocations ...... 1545–BB54 2637 Substitute Dividend Payments in Securities Lending and Similar Transactions ...... 1545–BB56 2638 Deemed IRAs in Qualified Retirement Plans ...... 1545–BB58 2639 Deemed IRAs in Qualified Retirement Plans (Temporary) ...... 1545–BB59 2640 Loss Limitation Rules—G U Repeal ...... 1545–BB61 2641 Contributions To Purchase Certain Retirement Annuities or Custodial Accounts Under Section 403(b) ...... 1545–BB64 2642 Use of Government Depositaries in Connection With Tax Under the Federal Unemployment Tax Act (Temporary) 1545–BB67 2643 Liquidation of an Interest ...... 1545–BB71 2644 Qualified Interests...... 1545–BB72 2645 Collected Excise Taxes; Duties of Collector ...... 1545–BB75 2646 Collected Excise Taxes; Duties of Collector (Temporary) ...... 1545–BB76 2647 REMIC Residuals—Timing of Income for Foreign Holders ...... 1545–BB84 2648 Predecessors or Successors Under Section 355(e) ...... 1545–BB85 2649 Dependent Care Credit ...... 1545–BB86 2650 Guidance Regarding Mark-to-Market Valuation for Certain Securities ...... 1545–BB90 2651 Partnership Equity for Services ...... 1545–BB92 2652 Determination of Single-Sum Distributions From Cash Balance Plans ...... 1545–BB93 2653 Accrual for Certain REMIC Regular Interests ...... 1545–BB94 2654 Miscellaneous Changes to Collection Due Process Procedures Relating to Notice and Opportunity for Hearing Upon Filing of Notice of Lien ...... 1545–BB96 2655 Miscellaneous Changes to Collection Due Process Procedures Relating to Hearings Before Levy ...... 1545–BB97 2656 Tax Exempt Bond Partnership Reporting Regulation ...... 1545–BC04 2657 Determination of Basis of or Securities Received in Exchange or With Respect to, a Stock or Securities in Certain Transactions ...... 1545–BC05 2658 General Allocation and Accounting Regulations ...... 1545–BC07 2659 Entry of Taxable Fuel ...... 1545–BC08 2660 Timing and Modification of the Section 59(e) Election ...... 1545–BC13 2661 Value of Life Insurance When Distributed From a Qualified Retirement Plan ...... 1545–BC20 2662 Utility Allowance Regulation Update ...... 1545–BC22 2663 Special Consolidated Return Rules for Interest Expense Disallowed Under Section 265(a)(2) ...... 1545–BC23 2664 Single Determination of Tax for Multiple Pools of Assets of an S Corporation ...... 1545–BC29 2665 Deemed Corporate Election for Electing S Corporations ...... 1545–BC32 2666 Guidance on PFIC Purging Elections ...... 1545–BC37 2667 Additional Guidance Regarding Mark-to-Market Accounting for Traders in Securities and/or Commodities, Including Foreign Currency Instruments ...... 1545–BC48 2668 Qualified Severance Regulations ...... 1545–BC50 2669 Stewardship Expenses...... 1545–BC52 2670 Coordination of United States and Certain Possessions Income Taxes ...... 1545–BC54
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TREAS
Internal Revenue Service—Proposed Rule Stage (Continued)
Regulation Sequence Title Identifier Number Number
2671 Guidance Under Section 2053 Regarding Post-Death Events ...... 1545–BC56 2672 Predeceased Parent Rule ...... 1545–BC60 2673 Qualified Zone Academy Bonds; Obligations of States and Political Subdivisions ...... 1545–BC61 2674 Guidance Under Section 707 Regarding Disguised Sales ...... 1545–BC63 2675 Partnerships and Deemed Dispositions of Unrealized Receivables and Inventory Items ...... 1545–BC65 2676 LIFO Recapture Under Section 1362(d) ...... 1545–BC66 2677 Section 1045 Application to Partnerships ...... 1545–BC67 2678 Section 179 Elections (Temporary) ...... 1545–BC69 2679 Real Estate Mortgage Investment Conduit (REMIC) Tetra Rules ...... 1545–BC71 2680 Collection After Assessment ...... 1545–BC72 2681 Below-Market Loans...... 1545–BC78 2682 Information Reporting Relating to Taxable Stock Transactions ...... 1545–BC80 2683 Student FICA Guidance ...... 1545–BC81 2684 Definition of Loss for Purposes of the Straddle Rules ...... 1545–BC83 2685 NIMCRUT Valuation Regulations ...... 1545–BC85 2686 Determination of Residency in U.S. Possessions ...... 1545–BC86 2687 Exclusion of Employees of 501(c)(3) Organization in 401(k) and 401(m) Plans ...... 1545–BC87 2688 Transactions Involving the Transfer of No Net Equity Value ...... 1545–BC88 2689 Payments in the Nature of Workers Compensation ...... 1545–BC89 2690 Disclosures to Subcontractors ...... 1545–BC92 2691 Revision of Section 301.6103(j)-1 for Disclosure to the Bureau of Economic Analysis, Department of Commerce ... 1545–BC93 2692 Guidance Regarding the Active Trade or Business Requirement Under Section 355(b) ...... 1545–BC94 2693 Accumulated Adjustment Account and Other Corporate Separations Under Section 355 ...... 1545–BC98 2694 Attained Age of the Insured ...... 1545–BD00 2695 Support Test in the Case of a Child of Divorced Parents ...... 1545–BD01 2696 Treatment of Foreign Stapled Corporation ...... 1545–BD05 2697 Deemed IRAs in Governmental Plans/Qualified Nonbank Trustee Rules (Temporary) ...... 1545–BD08 2698 Public Inspection of Written Determinations Under Section 6110 of the Internal Revenue Code (Temporary) ...... 1545–BD09 2699 Dual Consolidated Loss Regulations ...... 1545–BD10 2700 Current Liability Interest Rate Under Section 412(b)(5) ...... 1545–BD13 2701 Current Liability Interest Rate Under Section 412(b)(5) (Temporary) ...... 1545–BD14 2702 Definition of Qualified Foreign Corporation ...... 1545–BD15 2703 Time and Manner of Section 163 Interest Equivalent Deduction Election ...... 1545–BD16 2704 Move and Update the Estimated Tax Regulations ...... 1545–BD17 2705 Escrow Accounts, Trusts, and Other Funds Used During Deferred Exchanges of Like-Kind Property ...... 1545–BD19 2706 Section 42 Qualified Contract Provisions ...... 1545–BD20 2707 Payments for Which No Return of Information is Required Under Section 6041 ...... 1545–BD21 2708 Interest on Large Corporate Underpayments Under Section 6621 (c) ...... 1545–BD22 2709 Guidance on Phased Retirement ...... 1545–BD23 2710 Deemed Corporate Election for Electing S Corporations (Temporary) ...... 1545–BD24 2711 Section 1031 Transition to NAICS ...... 1545–BD25 2712 Section 1031 Transition to NAICS (Temporary) ...... 1545–BD26 2713 Stock Held by Foreign Insurance Companies ...... 1545–BD27 2714 Definition of Disqualified Person ...... 1545–BD28 2715 Entry of Taxable Fuel (Temporary) ...... 1545–BD29 2716 Time and Manner of Section 163 Interest Equivalent Deduction Election (Temporary) ...... 1545–BD30 2717 Requirements for Reorganizations ...... 1545–BD31 2718 LIFO Recapture Under Section 1363(d) ...... 1545–BD34 2719 Clarification of Definitions ...... 1545–BD37 2720 Brief Asset Holding Period (Temporary) ...... 1545–BD38 2721 Brief Asset Holding Period ...... 1545–BD39 2722 Underpayment for Qualified Amended Returns ...... 1545–BD40 2723 Underpayment for Qualified Amended Returns (Temporary) ...... 1545–BD42 2724 Application of Sections 304(b)(6) and 367 in Cross Border Section 304 Transactions ...... 1545–BD46 2725 Asset Transfers Following Putative Reorganizations ...... 1545–BD56
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TREAS
Internal Revenue Service—Final Rule Stage
Regulation Sequence Title Identifier Number Number
2726 Foreign Corporations...... 1545–AK74 2727 Nonrecognition of Corporate Distributions and Reorganizations Under the Foreign Investment in Real Property Tax Act ...... 1545–AK79 2728 Registration Required Obligations ...... 1545–AP33 2729 Guidance in Notice 89-37, Which Treats the Receipt of a Corporate Partner’s Stock by the Corporate Partner as a Circumvention of General Utilities Repeal ...... 1545–AP52 2730 Interest-Free Adjustments...... 1545–AQ61 2731 Definition of ‘‘Highly Compensated Employee’’ ...... 1545–AQ74 2732 Escrow Funds and Other Similar Funds ...... 1545–AR82 2733 Mark-to-Market Upon Disposition ...... 1545–AS85 2734 Straddles—-Miscellaneous Issues...... 1545–AT46 2735 Definition of Private Activity Bond—Refunding Regulations ...... 1545–AU98 2736 Electronic Transmission of Withholding Certificates ...... 1545–AV27 2737 Interest on Education Loans ...... 1545–AW01 2738 Mark-to-Market Accounting for Dealers in Commodities and Traders in Securities and Commodities ...... 1545–AW06 2739 Intercompany Obligations...... 1545–AW30 2740 Contingent Debt Instrument ...... 1545–AW33 2741 Capital Gain Guidance Relating to CRTs ...... 1545–AW35 2742 Reporting of Payments to Attorney ...... 1545–AW72 2743 Delay Rental Payments ...... 1545–AX06 2744 Highway Vehicle—Definition...... 1545–AX10 2745 Guidance on Cost Recovery in the Entertainment Industry ...... 1545–AX12 2746 Cash or Deferred Arrangements ...... 1545–AX26 2747 Cash or Deferred Arrangements (Temporary) ...... 1545–AX43 2748 Stock Transfer Rules—Carryover of Earnings and Taxes ...... 1545–AX65 2749 Allocation and Apportionment of Interest Expense and Certain Other Expenses ...... 1545–AX72 2750 HIPAA Portability...... 1545–AX84 2751 Application of Separate Foreign Tax Credit Limitations ...... 1545–AX88 2752 Capitalization of Interest and Carrying Charges Properly Allocable to Straddles ...... 1545–AX92 2753 Assumption of Partnership Liabilities ...... 1545–AX93 2754 Authorized Placement Agency ...... 1545–AY18 2755 Withholding Tax on Foreign Partners’ Share of Effectively Connected Income ...... 1545–AY28 2756 HIPAA General Nondiscrimination ...... 1545–AY32 2757 HIPAA Nondiscrimination Exception for Church Plans ...... 1545–AY33 2758 HIPAA Nondiscrimination Exception for Bona Fide Wellness Programs ...... 1545–AY34 2759 Information Reporting on Cancellation of Indebtedness ...... 1545–AY35 2760 Allocation of Income and Deductions from Intangibles ...... 1545–AY38 2761 Guidance Under Section 355(e); Recognition of Gain on Certain Distributions of Stock or Securities in Connection With an Acquisition ...... 1545–AY42 2762 Election—Asset Acquisitions of Insurance Companies ...... 1545–AY49 2763 Tax Treatment of Cafeteria Plans ...... 1545–AY67 2764 Normalization ...... 1545–AY75 2765 New Market Tax Credit ...... 1545–AY87 2766 Mergers Involving Disregarded Entities ...... 1545–BA06 2767 Reductions of Accruals and Allocations Because of Increased Age ...... 1545–BA10 2768 Procurement/Purchasing Card Reporting ...... 1545–BA17 2769 Property Exempt from Levy ...... 1545–BA22 2770 Application of the Federal Insurance Contributions Act, Federal Unemployment Tax Act, and Collection of Income Tax at Source to Statutory Stock Options ...... 1545–BA26 2771 Amendment to the Definition of Refunding ...... 1545–BA46 2772 Loss Limitation Rules ...... 1545–BA52 2773 Required Distributions from Retirement Plans ...... 1545–BA60 2774 Interest Other Than That of a Creditor ...... 1545–BA69 2775 Circular 230—Tax Shelter Amendments ...... 1545–BA70 2776 Carryback of Consolidated Net Operating Losses to Separate Return Years ...... 1545–BA73 2777 Statutory Options...... 1545–BA75 2778 Disclosure of Relative Value of Distribution Forms ...... 1545–BA78 2779 Redemptions Treated as Dividends ...... 1545–BA80 2780 Partnership Transactions Involving Long-Term Contracts ...... 1545–BA81
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TREAS
Internal Revenue Service—Final Rule Stage (Continued)
Regulation Sequence Title Identifier Number Number
2781 Reporting Requirements for Widely Held Fixed Investment Trusts ...... 1545–BA83 2782 Guidance on Reporting of Deposit Interest Paid to Nonresident Aliens ...... 1545–BA86 2783 Aggregate Computation and Allocation of Research Credit ...... 1545–BA88 2784 Designated IRS Officer or Employee ...... 1545–BA89 2785 Reduced Exclusion of Gain From Sale or Exchange of Principal Residence ...... 1545–BB01 2786 Change in Use; Accelerated Cost Recovery System ...... 1545–BB05 2787 Capital Account Bookup ...... 1545–BB10 2788 Allocation of Foreign Tax Credits Among Partners ...... 1545–BB11 2789 Distributions of Property ...... 1545–BB12 2790 Excise Tax Relating To Structured Settlement Factoring Transactions ...... 1545–BB14 2791 Testimony Authorizations and Requests for IRS Information ...... 1545–BB15 2792 Investigative Disclosures...... 1545–BB16 2793 Toll Telephone Service—Definition ...... 1545–BB18 2794 Authorization for IRS To Charge Fees For Copying Exempt Organization Returns ...... 1545–BB21 2795 Duplicative Tax Benefits ...... 1545–BB25 2796 Extension of Time for Filing Returns ...... 1545–BB29 2797 Treatment of Services Under Section 482 ...... 1545–BB31 2798 Investment Adjustment Rules and Waiver of Loss Carryovers From SRLY Years—Amended ...... 1545–BB38 2799 Limitation on Use of Nonaccrual Experience Method of Accounting ...... 1545–BB43 2800 Advance Rentals...... 1545–BB44 2801 Administrative Simplification of 481(a) Adjustment Periods in Various Regulations ...... 1545–BB47 2802 Special Depreciation Allowance ...... 1545–BB57 2803 Information Reporting Relating to Taxable Stock Transactions ...... 1545–BB60 2804 Use of Government Depositaries in Connection With Tax Under the Federal Unemployment Tax Act ...... 1545–BB66 2805 Availability of Section 338(h)(10) Election in Multistep Transactions ...... 1545–BB68 2806 Guidance on Life Insurance and Annuity Contracts ...... 1545–BB77 2807 Application of Nondiscrimination Cross-Testing Rules To Cash Balance Plans ...... 1545–BB79 2808 Notional Principal Contracts; Contingent Nonperiodic Payments ...... 1545–BB82 2809 Reduction of Tax Attributes Due To Discharge of Indebtedness Income ...... 1545–BB98 2810 New Markets Tax Credit Amendments ...... 1545–BC03 2811 Transfers of Nonstatutory Stock Options to Related Persons ...... 1545–BC06 2812 Notarization Requirement for Statements of Purchase ...... 1545–BC11 2813 Guidance Necessary To Facilitate Business Electronic Filing ...... 1545–BC15 2814 Contingent at Closing Escrows ...... 1545–BC16 2815 Changes in Computing Depreciation ...... 1545–BC18 2816 Section 411(d)(6) Protected Benefits ...... 1545–BC26 2817 Preservation of Stock Basis ...... 1545–BC28 2818 Prohibited Allocation of Securities in an S Corporation ...... 1545–BC34 2819 Elimination of Forms of Distribution in Defined Contribution Plans ...... 1545–BC35 2820 Depreciation of Vans and Light Trucks ...... 1545–BC36 2821 Guidance Under Section 1502; Application of Section 108 to Members of a Consolidated Group ...... 1545–BC38 2822 Remedial Actions for Tax Exempt Bonds ...... 1545–BC40 2823 Substitute for Return (SFR) and Automated Substitute for Return (ASFR) (Temporary) ...... 1545–BC46 2824 Guidance on PFIC Purging Elections ...... 1545–BC49 2825 Suspension of Running of Period of Limitation During a Proceeding To Enforce or Quash a Designated or Related Summons ...... 1545–BC55 2826 Guidance Under Section 1502; Application of Section 108 to Members of a Consolidated Group ...... 1545–BC74 2827 Guidance Under Section 1502; Computation of Taxable Income When Section 108 Applies to a Member of a Con- solidated Group ...... 1545–BC95 2828 Electronic Filing of Duplicate Forms 5472 ...... 1545–BD03 2829 Solid Waste Disposal Facilities ...... 1545–BD04 2830 Treatment of Foreign Stapled Corporation (Temporary) ...... 1545–BD06 2831 Transitional Rule for Vested Accrued Vacation Pay ...... 1545–BD12 2832 Coordination of United States and Certain Possessions Income Taxes (Temporary) ...... 1545–BD32 2833 Guidance on PFIC Purging Elections (Temporary) ...... 1545–BD33 2834 Clarification of Definitions (Temporary) ...... 1545–BD43
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TREAS
Internal Revenue Service—Long-Term Actions
Regulation Sequence Title Identifier Number Number
2835 Income Tax—Taxpayer’s Obligation To File a Notice of Redetermination of Foreign Tax and Civil Penalties for Failure To File ...... 1545–AC09 2836 Income Tax—Definition of Qualified Possession Source Investment Income for Purposes of Puerto Rico and Pos- session Tax Credit ...... 1545–AC10 2837 FSC Transfer Pricing Rules, Distributions, Dividends Received, Deduction, and Other Special Rules for FSC ...... 1545–AI16 2838 Information From Passport and Immigration Applicants ...... 1545–AJ93 2839 Income of Foreign Governments and International Organizations ...... 1545–AL93 2840 Clarification of Treatment of Separate Limitation Losses ...... 1545–AM11 2841 Earnings and Profits of Controlled Foreign Corporations ...... 1545–AM90 2842 Caribbean Basin Investments ...... 1545–AM91 2843 Consolidated Alternative Minimum Tax ...... 1545–AN73 2844 Conforming Taxable Years of CFCs and FPHCs ...... 1545–AO22 2845 Earnings Stripping Payments ...... 1545–AO24 2846 Charitable Contributions...... 1545–AP30 2847 Use of GAAP Earnings as E&P of Foreign Corporations ...... 1545–AQ55 2848 The Treatment of Accelerated Death Benefits ...... 1545–AQ70 2849 Allocation of Accrued Benefits Between Employer and Employee Contributions ...... 1545–AT82 2850 Foreign Corporations Regulations ...... 1545–AT96 2851 Application of Grantor Trust Rules to Nonexempt Employees’ Trust ...... 1545–AU29 2852 Recomputation of Life Insurance Reserves ...... 1545–AU49 2853 Source Rules for Payments Made Pursuant to Certain Swap Arrangements ...... 1545–AU89 2854 Application of Attribution Rules to Foreign Trusts ...... 1545–AU91 2855 Financial Asset Securitization Investment Trust (FASIT) Start-Up; Operational and Transitional Rules ...... 1545–AU94 2856 Return of Levied Property in Certain Cases ...... 1545–AV01 2857 Stocks and Securities Safe Harbor Exception ...... 1545–AW13 2858 Source of Income From Certain Space and Ocean Activities and for Communications Income ...... 1545–AW50 2859 Constructive Sales of Appreciated Financial Positions ...... 1545–AW97 2860 Special Rules for S Corporations ...... 1545–AY44 2861 Payments For Interest in Partnership ...... 1545–AY90 2862 Consolidated Returns; Nonapplicability of Section 357(c) ...... 1545–BA09 2863 Noncompensatory Partnership Options ...... 1545–BA53 2864 Earnings and Profits Attribution Principles ...... 1545–BA93 2865 Mixed Use Output Facilities ...... 1545–BB23 2866 Accrual Rules for Creditable Foreign Taxes and Guidance on Change in Taxable Year ...... 1545–BB27 2867 Amendment to Section 6724 Relating to Failure To File Correct Information Returns ...... 1545–BB41 2868 Safe Harbor Leasing Second Interest Capitalization ...... 1545–BB62 2869 Safe Harbor Leasing Second Interest Capitalization (Temporary) ...... 1545–BB63 2870 Installment Obligations...... 1545–BB65 2871 Corporate Reorganizations; Continuity—Transfers of Assets or Stock Following a Reorganization ...... 1545–BB80 2872 Substitute for Return (SFR) and Automated Substitute for Return (ASFR) ...... 1545–BC45 2873 Guarantee Fees Under Section 143(g) ...... 1545–BC59 2874 Transfers of Restricted Stock ...... 1545–BD44 2875 Transfers of Restricted Stock (Temporary) ...... 1545–BD45
Internal Revenue Service—Completed Actions
Regulation Sequence Title Identifier Number Number
2876 Qualified Offers...... 1545–AW99 2877 Guaranteed Investment Contracts ...... 1545–AX22 2878 Like-Kind Exchanges...... 1545–AX95 2879 Definition of Income ...... 1545–AX96 2880 Electing Mark-to-Market for Marketable Stock of a PFIC ...... 1545–AY17 2881 Active Conduct of an Insurance Business Under PFIC Rules ...... 1545–AY20 2882 Electronic Furnishing of Payee Statements ...... 1545–AY50 2883 Research Credit III ...... 1545–AY82 2884 Low-Income Taxpayer Clinics ...... 1545–AY84
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TREAS
Internal Revenue Service—Completed Actions (Continued)
Regulation Sequence Title Identifier Number Number
2885 Definition of Agent and Safeguard Certifications ...... 1545–AY94 2886 Tax Shelter Penalties ...... 1545–AY97 2887 Expenditures in Connection with the Creation of Intangible Assets ...... 1545–BA00 2888 Allocation and Apportionment of Interest Expense; Tax Book Value Disparities ...... 1545–BA02 2889 Continuation of a Consolidated Group ...... 1545–BA14 2890 Modification of Check the Box Regulations (Temporary) ...... 1545–BA58 2891 Abatement of Interest on Large Erroneous Refunds ...... 1545–BA61 2892 Carryover and Stacking Rule Amendment ...... 1545–BA85 2893 Tax Book Value Disparities ...... 1545–BA92 2894 Preparer Penalties—Signature Requirement and Copies of Returns ...... 1545–BB34 2895 Hand Carrying Returns (Temporary) ...... 1545–BB45 2896 Statutory Options (Temporary) ...... 1545–BB69 2897 Real Estate Mortgage Investment Conduits (REMICs); Application of Section 446 With Respect to Inducement Fees ...... 1545–BB73 2898 Corporate Reorganizations; Continuity—Transfers of Assets or Stock Following a Reorganization (Temporary) ...... 1545–BB81 2899 Assumption of Partnership Liabilities (Temporary) ...... 1545–BB83 2900 Distributions of Loss Corporation Stock by Qualified Plans ...... 1545–BC00 2901 New Markets Tax Credit Amendments (Temporary) ...... 1545–BC02 2902 Changes in Computing Depreciation (Temporary) ...... 1545–BC17 2903 Like-Kind Exchanges Under Section 168 (Temporary) ...... 1545–BC27 2904 Removal of Section 6152 Regulations ...... 1545–BC53 2905 Guidance Necessary To Facilitate Business Electronic Filing (Temporary) ...... 1545–BC62 2906 Partnership Transactions Involving Partner’s Stock ...... 1545–BC64 2907 Qualified Zone Academy Bonds (Temporary) ...... 1545–BC68 2908 Confidential Transactions...... 1545–BC75 2909 Confidential Transactions (Temporary) ...... 1545–BC76 2910 Guidance Under Section 1502; Application of Section 108 to Members of a Consolidated Group (Temporary) ...... 1545–BC77 2911 Information Reporting Relating to Taxable Stock Transactions (Temporary) ...... 1545–BC79 2912 Loss Limitation Rules (Temporary) ...... 1545–BC84 2913 Low-Income Housing Credit Allocation Certification; Electronic Filing ...... 1545–BC90 2914 Guidance Under Section 1502; Computation of Taxable Income When Section 108 Applies to a Member of a Con- solidated Group (Temporary) ...... 1545–BC96 2915 Payment in Lieu of Dividends ...... 1545–BC97 2916 Electronic Filing of Duplicate Forms 5472 (Temporary) ...... 1545–BD02 2917 Partner’s Distributive Share: Foreign Tax Expenditures (Temporary) ...... 1545–BD11
Office of Thrift Supervision—Proposed Rule Stage
Regulation Sequence Title Identifier Number Number
2918 Risk-Based Capital Guidelines; Implementation of New Basel Capital Accord ...... 1550–AB56
Office of Thrift Supervision—Final Rule Stage
Regulation Sequence Title Identifier Number Number
2919 12 CFR 563e Community Reinvestment Act ...... 1550–AB48 2920 Risk-Based Capital Guidelines; Capital Guidelines; Capital Maintenance: Interim Capital Treatment of Consolidated Asset-Backed Commercial Paper Program Assets ...... 1550–AB79 2921 12 CFR 568 Proper Disposal of Consumer Information Under the Fair and Accurate Credit Transactions Act of 2003 ...... 1550–AB87 2922 Fair Credit Reporting Medical Information Regulations ...... 1550–AB88
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TREAS
Office of Thrift Supervision—Long-Term Actions
Regulation Sequence Title Identifier Number Number
2923 12 CFR 571 Fair Credit Reporting ...... 1550–AB33 2924 Interagency Proposal To Consider Alternative Forms of Privacy Notices Under the Gramm-Leach-Bliley Act ...... 1550–AB86
Office of Thrift Supervision—Completed Actions
Regulation Sequence Title Identifier Number Number
2925 Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance: Asset-Backed Commercial Paper Programs and Early Amortization Provisions ...... 1550–AB81 2926 Assessments and Fees ...... 1550–AB89
Department of the Treasury (TREAS) Proposed Rule Stage Departmental Offices (DO)
2366. AMENDMENTS TO THE Small Entities Affected: No Stat 2322; 15 USC 6701 note; 5 USC GOVERNMENT SECURITIES ACT 301 REGULATIONS: EXEMPTION FOR Government Levels Affected: None CFR Citation: 31 CFR 50 HOLDINGS SUBJECT TO FIDUCIARY Agency Contact: Lori Santamorena, STANDARDS Executive Director, Department of the Legal Deadline: None Priority: Substantive, Nonsignificant Treasury, Room 315, Government Securities Regulations Staff, 799 9th Abstract: As the statutorily authorized Legal Authority: 15 USC Street NW., Washington, DC 20239 administrator of the Terrorism Risk 78o–5(b)(1)(A); 15 USC 78o–5(b)(4); 15 Phone: 202 504–3632 Insurance Program, Treasury is issuing USC 78o–5(b)(5); 31 USC 3121; 31 USC Fax: 202 504–3639 proposed and final regulations to 9110 Email: [email protected] implement the Program. Under the CFR Citation: 17 CFR 450.3 Terrorism Risk Insurance Act, title I, Legal Deadline: None Lee Grandy, Associate Director, Public Law 107-297, and the Program, Department of the Treasury, the Federal Government shares the risk Abstract: The proposed rule would Governement Securities Regulations of insured losses from certified acts of amend the Government Securities Act Staff, 799 9th Street NW., Washington, terrorism with commercial property regulations applicable to custodial DC 20239 and casualty insurers until the Program holdings of Government securities by Phone: 202 504–3632 sunsets on December 31, 2005. This depository institutions. Specifically, Fax: 202 504–3639 rule implements the litigation this proposal would expand the Email: [email protected] management provisions of section 107 eligibility for the exemption for of the Act as well as other litigation holdings subject to fiduciary standards Deidere R. Brewer, Government relating to the Program. at 17 CFR part 450.3 to include savings Securities Specialist, Department of the associations examined by the Office of Treasury, Government Securities Timetable: Thrift Supervision. The exemption is Regulations Staff, 799 9th Street NW., Action Date FR Cite currently available to depository Washington, DC 20239 institutions that meet its conditions Phone: 202 504–3632 NPRM 05/06/04 69 FR 25341 regulated by the Federal Fax: 202 504–3639 NPRM Comment 07/06/04 Period End DepositInsurance Corporation, the Email: [email protected] Comptroller of the Currency, and the Final Rule 01/00/05 RIN: 1505–AB06 Board of Governors of the Federal Regulatory Flexibility Analysis Reserve System. Required: No Timetable: 2367. TERRORISM RISK INSURANCE PROGRAM; LITIGATION Government Levels Affected: None Action Date FR Cite MANAGEMENT NPRM 07/00/04 Agency Contact: C. Christopher NPRM Comment 08/00/04 Priority: Other Significant. Major status Ledoux, Senior Attorney, Department of Period End under 5 USC 801 is undetermined. the Treasury, Washington, DC 20220 Phone: 202 622–6813 Regulatory Flexibility Analysis Legal Authority: Terrorism Risk Required: No Insurance Act, title 1, PL 107–297, 116 RIN: 1505–AB08
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TREAS—DO Proposed Rule Stage
2368. TERRORISM RISK INSURANCE requirements applicable to textiles and must also inform sureties when an PROGRAM; ADDITIONAL CLAIMS textile products subject to section 204 entry is suspended or extended. ISSUES of the Agricultural Act of 1956. Timetable: Priority: Amendment involves simplification of Other Significant. Major status Action Date FR Cite under 5 USC 801 is undetermined. regulatory text, has no substantive effect on the U.S. textile import NPRM 12/00/04 Legal Authority: Terrorism Risk program as administered by the Bureau Regulatory Flexibility Analysis Insurance Act, title 1, PL 107–297, 116 of Customs and Border Protection, and Required: No Stat 2322; 15 USC 6701 note; 5 USC is intended to ensure that the wording 301 of the Customs Regulations is Government Levels Affected: None CFR Citation: 31 CFR 50 consistent with the product coverage of Additional Information: Transferred Legal Deadline: None section 204. from RIN 1515-AB66 Abstract: As the statutorily authorized Timetable: Agency Contact: William G. Rosoff, administrator of the Terrorism Risk Action Date FR Cite Chief, Duty Refund and Determination Insurance Program, Treasury is issuing Branch, Department of the Treasury, proposed and final regulations to NPRM 12/00/04 Office of Regulations and Rulings, 1300 implement the Program. Under the Regulatory Flexibility Analysis Pennsylvania Avenue NW., Terrorism Risk Insurance Act, title I, Required: No Washington, DC 20229 Public Law 107-297, and the Program, Phone: 202 572–8807 Government Levels Affected: None the Federal Government shares the risk RIN: 1505–AB14 of insured losses from certified acts of Additional Information: Transferred terrorism with commercial property from RIN 1515-AB54 2371. DETENTION, SEIZURE, AND and casualty insurers until the Program Agency Contact: Dick Crichton, FORFEITURE OF ‘‘BOOTLEG’’ SOUND sunsets on December 31, 2005. This Operations Officer, Department of the rule provides requirements for claims RECORDING AND MUSIC VIDEOS OF Treasury, Office of Field Operations, LIVE MUSICAL PERFORMANCES procedures related to the later stages 1300 Pennsylvania Avenue NW., of claims administration and final Washington, DC 20229 Priority: Substantive, Nonsignificant netting of losses as well as secondary Phone: 202 927–0162 Legal Authority: issues such as procedures in case of 5 USC 301; 17 USC insurer insolvency. RIN: 1505–AB13 602; 17 USC 603; 31 USC 9701; 19 USC 66; 19 USC 1202; 19 USC 58a; 19 USC Timetable: 58b; 19 USC 58c; 19 USC 66; 17 USC Action Date FR Cite 2370. LIQUIDATION; EXTENSION; 101; 17 USC 601 SUSPENSION NPRM 08/00/04 CFR Citation: 19 CFR 12; 19 CFR 24; NPRM Comment 09/00/04 Priority: Substantive, Nonsignificant 19 CFR 133 Period End Legal Authority: 19 USC 66; 19 USC Legal Deadline: None Final Rule 12/00/04 1500; 19 USC 1504; 19 USC 1624 Abstract: Amendment to provide for Regulatory Flexibility Analysis CFR Citation: 19 CFR 159 the detention, seizure, and forfeiture of Required: No unauthorized (bootleg) copies of sound Legal Deadline: None Government Levels Affected: None recordings and music videos of live Abstract: Document would amend the Agency Contact: Howard Leikin, musical performances recorded outside CBP Regulations to implement Senior Insurance Advisor, Department of and imported into the United States, amendments to section 504 of the Tariff of the Treasury, Office of Financial as provided by section 513(a) of the Act of 1930, as amended, which Institutions, Terrorism Risk Insurance Uruguay Round Agreements Act. pertains to limitations on the Program, 1500 Pennsylvania Avenue Timetable: liquidation of entries that were NW., Washington, DC 20220 contained in the Customs Action Date FR Cite Phone: 202 622–6770 Modernization provisions of the North NPRM 01/00/05 RIN: 1505–AB09 American Free Trade Agreement Implementation Act. Amendments Regulatory Flexibility Analysis Required: No 2369. TEXTILES AND TEXTILE would allow the reconciliation of PRODUCTS SUBJECT TO TEXTILE entries to be treated as if they were Government Levels Affected: None TRADE AGREEMENTS entry summaries, subject to normal Additional Information: Transferred liquidation requirements; authorize the from RIN 1515-AB74 Priority: Substantive, Nonsignificant electronic transmittal of notices of Legal Authority: 5 USC 301; 19 USC extension and suspension of Agency Contact: George F. McCray, 66; 19 USC 1202; 19 USC 1624; 7 USC liquidation; extend the time period in Chief, Intellectual Property Rights 1854 which the Bureau of Customs and Branch, Department of the Treasury, Office of Regulations and Rulings, 1300 CFR Citation: 19 CFR 12 Border Protection must liquidate a suspended entry after the suspension is Pennsylvania Avenue NW., Legal Deadline: None removed; remove the application of the Washington, DC 20229 Abstract: Amendment to the country of four-year limitation to suspended Phone: 202 572–8709 origin standards and documentary entries; and provide that the agency RIN: 1505–AB15
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TREAS—DO Proposed Rule Stage
2372. RECONCILIATION Agency Contact: John Leonard, Copyright Office. Amendment would Priority: Substantive, Nonsignificant Program Officer, Department of the also set forth changes to CBP’s Treasury, Office of Field Operations, enforcement procedures, including, Legal Authority: 19 USC 66; 19 USC 1300 Pennsylvania Avenue NW., among other things, enhanced 1484; 19 USC 1500; 19 USC 1624 Washington, DC 20229 disclosure provisions, protection for CFR Citation: 19 CFR 142; 19 CFR 159 Phone: 202 927–0915 live musical performances and Legal Deadline: None RIN: 1505–AB20 provisions to enforce the Digital Millennium Copyright Act. Abstract: Amendment to allow those Timetable: elements of an entry, other than those 2374. • UNIFORM RULES OF ORIGIN elements relating to the admissibility of Action Date FR Cite Priority: Substantive, Nonsignificant the merchandise, that are undetermined NPRM 06/00/04 at the time an entry summary or an Legal Authority: 19 USC 66; 19 USC import activity summary is required to 1202; 19 USC 1624 Regulatory Flexibility Analysis Required: No be submitted, to be provided to the CFR Citation: 19 CFR 102 Bureau of Customs and Border Government Levels Affected: None Legal Deadline: None Protection at a later date. Agency Contact: Paul Pizzeck, Timetable: Abstract: Amendment to set forth Attorney, Intellectual Property Rights uniform rules for determining the Branch, Department of the Treasury, Action Date FR Cite country of origin of imported goods. Office of Regulations and Rulings, 1300 NPRM 06/00/05 Timetable: Pennsylvania Avenue NW., Regulatory Flexibility Analysis Washington, DC 20229 Action Date FR Cite Required: No Phone: 202 572–8710 NPRM 10/00/04 Government Levels Affected: None George F. McCray, Chief, Intellectual Regulatory Flexibility Analysis Additional Information: Transferred Property Rights Branch, Department of Required: No from RIN 1515-AB85 the Treasury, Office of Regulations and Government Levels Affected: Rulings, 1300 Pennsylvania Avenue Agency Contact: John Leonard, None NW., Washington, DC 20229 Agency Contact: Daniel Cornette, Program Officer, Department of the Phone: 202 572–8709 Treasury, Office of Field Operations, Attorney, Special Classification and 1300 Pennsylvania Avenue NW., Marking Branch, Department of the RIN: 1505–AB51 Washington, DC 20229 Treasury, Office of Regulations and Phone: 202 927–0915 Rulings, 1300 Pennsylvania Avenue, 2376. • REVISION OF OUTBOUND RIN: 1505–AB16 NW, Washington, DC 20229 REDELIVERY PROCEDURES AND Phone: 202 572–8731 LIABILITIES RIN: 1505–AB49 2373. REMOTE LOCATION FILING Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant Legal Authority: 19 USC 66; 19 USC 2375. • RECORDATION OF 1623; 19 USC 1624 Legal Authority: 19 USC 66; 19 USC COPYRIGHTS AND ENFORCEMENT CFR Citation: 19 CFR 113 1202; 19 USC 1484; 19 USC 1624; 19 PROCEDURES TO PREVENT USC 1641 IMPORTATION OF PIRATICAL Legal Deadline: None CFR Citation: 19 CFR 111; 19 CFR 113; ARTICLES Abstract: Amendment of the condition 19 CFR 141; 19 CFR 143 Priority: Substantive, Nonsignificant in an international carrier bond Legal Deadline: None regarding the unlawful disposition of Legal Authority: 15 USC 1124; 15 USC merchandise in order to allow CBP to Abstract: Amendment to allow entry 1125; 17 USC 101; 17 USC 106; 17 USC better control the exportation of filers to electronically file entries of 501; 19 USC 66; 19 USC 1499; 19 USC merchandise and to have more control merchandise with the Bureau of 1595a; 17 USC 1201(b); 18 USC 2319A; over demands for redelivery. Customs and Border Protection from ... Conditions of the bond would be locations within the United States other CFR Citation: 19 CFR 133 amended to no longer require the than at the port of arrival of the merchandise to be labeled as seized merchandise or the location of Legal Deadline: None and detained for the principal to be examination of the merchandise. Abstract: This amendment will allow required to obtain permission from CBP Timetable: CBP to be more responsive to claims prior to placing the merchandise on of piracy. Amendment would allow board a conveyance for export or Action Date FR Cite sound recordings and motion pictures otherwise disposing of the NPRM 10/00/04 or similar audio-visual works to be merchandise. Instead of the condition Regulatory Flexibility Analysis recorded with CBP while pending being applicable when CBP labels Required: No registration with the U.S. Copyright merchandise, the condition would be Office. Amendment would also applicable when CBP notifies the Government Levels Affected: None enhance the protection of all non-U.S. principal either in writing or Additional Information: Transferred works by allowing recordation without electronically that the merchandise has from RIN 1515-AC23 requiring registration with the U.S. been seized or detained.
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TREAS—DO Proposed Rule Stage
Timetable: 2377. • CENTRALIZATION OF THE approve single transaction bonds will CONTINUOUS BOND PROGRAM AT remain with port directors. These Action Date FR Cite THE CBP NATIONAL FINANCE changes would support CBP’s bond NPRM 08/00/04 CENTER program by ensuring an efficient and Priority: Substantive, Nonsignificant. uniform approach to the approval, Regulatory Flexibility Analysis Major status under 5 USC 801 is maintenance, and periodic review of Required: No undetermined. continuous bonds. Government Levels Affected: None Legal Authority: Not Yet Determined Timetable: CFR Citation: Action Date FR Cite Agency Contact: Robert C. Rawls, 19 CFR 101; 19 CFR 113 Operations Officer, Department of the Legal Deadline: None NPRM 09/00/04 Treasury, Office of Field Operations, Abstract: Amendment to reflect CBP’s Regulatory Flexibility Analysis 1300 Pennsylvania Avenue NW., planned centralization of the Required: No Washington, DC 20229 continuous bond program at the Phone: 202 927–5301 National Finance Center (NFC). Government Levels Affected: None Pursuant to this centralization, all RIN: 1505–AB52 Agency Contact: Bruce Ingalls, Chief, continuous bonds would be filed at the Collection Section, Department of the NFC via mail, fax, or in an electronic Treasury, Office of Finance, format. The NFC would assume most Indianapolis, IN 46278 of the bond functions previously Phone: 317 298–1307 performed at the port level, with the noted exception that the authority to RIN: 1505–AB54
Department of the Treasury (TREAS) Final Rule Stage Departmental Offices (DO)
2378. COMMUNITY DEVELOPMENT rule revises the definition of State by CFR Citation: 17 CFR 403.4 FINANCIAL INSTITUTIONS (CDFI) deleting reference to Trust Territories Legal Deadline: None PROGRAM of the Pacific Islands. Abstract: The final rule allows for the Priority: Substantive, Nonsignificant Timetable: expansion of the categories of collateral Legal Authority: 12 USC 4703; 12 USC Action Date FR Cite registered government securities 4703 note; 12 USC 4717; 31 USC 321 Interim Final Rule 05/11/04 69 FR 26260 brokers and dealers may pledge when CFR Citation: 12 CFR 1805 Interim Final Rule 07/12/04 borrowing fully paid or excess margin Comment Period securities from customers. This rule is Legal Deadline: None End a conforming technical amendment to Abstract: This revised interim rule: 1) the Government Securities Act Regulatory Flexibility Analysis regulations. includes new definitions of the terms, Required: No ‘‘State-Insured Credit Union’’ and Timetable: ‘‘Appropriate State Agency’’; 2) Government Levels Affected: None Action Date FR Cite includes county population loss as an Agency Contact: Jeffrey C. Berg, Legal Investment Area distress criterion for Counsel, Department of the Treasury, NPRM 12/11/03 68 FR 69059 areas located outside of Metropolitan Suite 200 South, Community NPRM Comment 01/12/04 Areas; 3) includes county net migration Development Financial Institutions Period End loss as an Investment Area distress Fund, 601 13th Street NW., Final Action 06/00/04 criterion for areas located outside of Washington, DC 20005 Final Action Effective 06/00/04 Metropolitan Areas; 4) permits the Phone: 202 622–8530 Regulatory Flexibility Analysis Fund to establish additional activity Fax: 202 622–8244 Required: No measures (such as loans outstanding) Email: [email protected] and the associated measurement time Government Levels Affected: None RIN: 1505–AA92 periods for Insured Credit Unions and Agency Contact: Lori Santamorena, State-Insured Credit Unions to meet the Executive Director, Department of the retained earnings since inception 2379. AMENDMENTS TO THE Treasury, Room 315, Government option for meeting the matching funds GOVERNMENT SECURITIES ACT Securities Regulations Staff, 799 9th requirements; 5) in the case of State- REGULATIONS: CUSTOMER Street NW., Washington, DC 20239 Insured Credit Unions, permits the PROTECTION–RESERVES AND Phone: 202 504–3632 Fund to contact and consider the views CUSTODY OF SECURITIES Fax: 202 504–3639 of the Appropriate State Agency; and Priority: Email: [email protected] 6) revises certain reporting Substantive, Nonsignificant requirements and deadlines to ensure Legal Authority: 15 USC Kevin Hawkins, Government Securities consistency and decrease reporting 78o–5(b)(1)(A); 15 USC 78o–5(b)(4); 15 Specialist, Department of the Treasury, burden. In addition, the revised interim USC 5(a)(5) Room 315, Government Securities
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TREAS—DO Final Rule Stage
Regulations Staff, 799 9th Street NW., CFR Citation: 31 CFR 1.8 to 1.12 Public Law 107-297, and the Program, Washington, DC 20239 Legal Deadline: None the Federal Government shares the risk Phone: 202 504–3632 of insured losses from certified acts of Fax: 202–504–3639 Abstract: This interim final rule terrorism with commercial property Email: [email protected] amends Treasury’s regulations that and casualty insurers until the Program govern access to information and RIN: 1505–AA94 sunsets on December 31, 2005. This records in connection with legal rule incorporates and clarifies statutory proceedings, including litigation in conditions for filing claims for payment 2380. REPORTING AND PROCEDURES which neither the United States nor the of the Federal share of compensation REGULATIONS; CUBAN ASSETS Department of the Treasury is a party. for insured losses under the Program. CONTROL REGULATIONS: The amendments elaborate on the The rule addresses requirements for PUBLICATION OF ECONOMIC procedures used when determining loss certification, specifies information SANCTIONS ENFORCEMENT whether employees in the Departmental needed in conjunction with insurer GUIDELINES Offices will be permitted to testify or submissions for Federal compensation, provide records relating to their official Priority: Substantive, Nonsignificant offers guidance on the statutory duties when they are directly definition of what is payable as the Legal Authority: 21 USC 1901 to 1908; subpoenaed or otherwise requested to federal share of insured losses, and sets 22 USC 287c; 31 USC 321(b); 50 USC testify. The amendments also specify forth requirements for investigating and 1701 to 1706; 50 USC app 1–44 and clarify the criteria that Treasury auditing claims under the Program. The CFR Citation: 31 CFR 501; 31 CFR 515 officials use when deciding whether to rule generally builds upon previous allow an employee to testify or provide Legal Deadline: None interim guidances andfinal rules issued records. by Treasury, particularly in areas Abstract: The Office of Foreign Assets Timetable: involving definitions and disclosure Control (OFAC) of the U.S. Department requirements. of the Treasury is publishing for public Action Date FR Cite comment an updated version of its Interim Final Rule 03/17/03 68 FR 12584 Timetable: internal Economic Sanctions Interim Final Rule 03/17/03 Action Date FR Cite Enforcement Guidelines. These Effective NPRM 12/01/03 68 FR 25168 Guidelines are being published as Interim Final Rule 04/16/03 NPRM Comment 12/31/03 separate appendices to two parts of the Comment Period Period End Code of Federal Regulations: 1) general End Final Rule 07/00/04 provisions are being published as an Final Rule 07/00/04 appendix to the Reporting and Regulatory Flexibility Analysis Regulatory Flexibility Analysis Procedures Regulations, 31 CFR part Required: No Required: No 501; and 2) specific provisions focusing Government Levels Affected: None on Cuba are being published as an Government Levels Affected: Federal appendix to the Cuban Assets Control Agency Contact: Thomas M. Agency Contact: Howard Leikin, Regulations, 31 CFR part 515. McGivern, Assistant General Counsel, Senior Insurance Advisor, Department of the Treasury, Office of Financial Timetable: Department of the Treasury, Room 3010, 1500 Pennsylvania Avenue NW., Institutions, Terrorism Risk Insurance Action Date FR Cite Washington, DC 20220 Program, 1500 Pennsylvania Avenue NPRM 01/29/03 68 FR 4422 Phone: 202 622–2317 NW., Washington, DC 20220 NPRM Comment 03/31/03 Fax: 202 622–2961 Phone: 202 622–6770 Period End Email: [email protected] RIN: 1505–AB07 Final Rule 08/00/04 RIN: 1505–AA97 Regulatory Flexibility Analysis 2383. HARBOR MAINTENANCE FEE Required: No 2382. TERRORISM RISK INSURANCE Priority: Substantive, Nonsignificant Government Levels Affected: None PROGRAM; INITIAL CLAIMS Legal Authority: PROCEDURE REQUIREMENTS 5 USC 301; PL Agency Contact: Chief of Records, 99–662; 19 USC 66; 19 USC 81a to 81u; Department of the Treasury, Priority: Other Significant 19 USC 623; 19 USC 1202; 19 USC Annex–2nd Floor, Office of Foreign Legal Authority: Terrorism Risk 1624; 31 USC 9701; PL 99–272; PL Assets Control, 1500 Pensylvania Insurance Act, title 1, PL 107–297, 116 99–509 Avenue NW., Washington, DC 20220 Stat 2322; 15 USC 6701 note; 5 USC Phone: 202 622–2530 CFR Citation: 19 CFR 4; 19 CFR 24; 301 Fax: 202 622–1657 19 CFR 146; 19 CFR 178 CFR Citation: 31 CFR 50 RIN: 1505–AA95 Legal Deadline: Final, Statutory, April Legal Deadline: None 1, 1987. 2381. DISCLOSURE OF RECORDS IN Abstract: As the statutorily authorized Abstract: Amendments to the Customs LITIGATION administrator of the Terrorism Risk Regulations to implement provisions of Insurance Program, Treasury is issuing the Water Resources Development Act Priority: Substantive, Nonsignificant proposed and final regulations to of 1986, which authorizes the Bureau Legal Authority: 5 USC 301; 31 USC implement the Program. Under the of Customs and Border Protection to 321 Terrorism Risk Insurance Act, title I, assess a harbor maintenance fee of
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TREAS—DO Final Rule Stage
0.125 percent (.00125) on the value of Action Date FR Cite Action Date FR Cite commercial cargo loaded on or unloaded from a commercial vessel at Interim Final Rule 01/08/92 Interim Final Rule 01/30/96 61 FR 2908 a port unless specifically exempted Effective Interim Final Rule 04/01/96 from the fee. Proceeds of the fee are Interim Final Rule 03/09/92 Comment Period Comment Period End deposited in a trust fund for the U.S. End Final Action 12/00/04 Army Corps of Engineers to use for the Final Action 12/00/04 improvement and maintenance of U.S. Regulatory Flexibility Analysis ports and harbors. Regulatory Flexibility Analysis Required: No Required: No Timetable: Government Levels Affected: None Government Levels Affected: None Action Date FR Cite Additional Information: Transferred Additional Information: Transferred from RIN 1515-AB87 Interim Final Rule 03/01/87 from RIN 1515-AA87 Effective Agency Contact: Shawn Filion, Interim Final Rule 03/30/87 52 FR 10198 Agency Contact: Deborah Thompson, Commercial Program Specialist, Interim Final Rule 05/29/87 Accountant, Department of the Department of the Treasury, Office of Comment Period Treasury, Accounts Receivable Branch, Field Operations, North Star End Office of Finance, Indianapolis, IN Commercial, P.O. Box 400, Buffalo, NY Final Action 12/00/04 46278 14225 Phone: 317 298–1200 Regulatory Flexibility Analysis Phone: 716 551–3053 Required: No RIN: 1505–AB12 RIN: 1505–AB17 Government Levels Affected: None 2385. NORTH AMERICAN FREE Additional Information: Transferred 2386. COUNTRY–OF–ORIGIN TRADE AGREEMENT (NAFTA)— from RIN 1515-AA57 MARKING IMPLEMENTATION OF Agency Contact: Deborah Thompson, DUTY–DEFERRAL PROGRAM Priority: Substantive, Nonsignificant Accountant, Department of the PROVISIONS Legal Authority: 5 USC 301; 19 USC Treasury, Accounts Receivable Branch, Priority: Substantive, Nonsignificant 66; 19 USC 1202; 19 USC 1304; 19 USC Office of Finance, Indianapolis, IN 1624 46278 Legal Authority: 19 USC 66; 19 USC Phone: 317 298–1200 1448; 19 USC 1481; 19 USC 1484; 19 CFR Citation: 19 CFR 134 USC 1202; 19 USC 1315; 19 USC 1624; RIN: 1505–AB11 Legal Deadline: None 19 USC 3314 Abstract: Amendments clarify the CFR Citation: 19 CFR 181; 19 CFR 113; country-of-origin marking rules set 2384. DONATED CARGO EXEMPTION 19 CFR 141; 19 CFR 144; 19 CFR 10 forth in part 134 of the Bureau of FROM HARBOR MAINTENANCE FEE Legal Deadline: Final, Statutory, Customs and Border Protection Priority: Substantive, Nonsignificant January 1, 1996. Regulations. Amendments promote the Legal Authority: 5 USC 301; 19 USC Abstract: Document amends concept of informed compliance by the 58a; 19 USC 66; 19 USC 1202; 19 USC regulations to establish procedural and trade and proper field administration of 1624; 31 USC 9701; 19 USC 58b; 19 other requirements that apply to the the statutory requirement. USC 58c collection, waiver, and reduction of Timetable: CFR Citation: 19 CFR 24 duties under the duty-deferral program Action Date FR Cite provisions of the North American Free Legal Deadline: None Trade Agreement (NAFTA). The NPRM 01/26/00 65 FR 4193 Abstract: Amends interim Customs document prescribes the documentary NPRM Comment 04/26/00 65 FR 17473 Regulations relating to harbor and other requirements that must be Period End maintenance fees. The interim followed when merchandise is Final Action 12/00/04 regulations established a shipping fee withdrawn from a U.S. duty-deferral Regulatory Flexibility Analysis for transporting cargo on specified U.S. program, either for exportation to Required: No waterways. The Act was amended to another NAFTA country or for entry Government Levels Affected: None include an exemption for nonprofit into a duty-deferral program of another organizations or cooperatives, which NAFTA country, the procedures that Additional Information: Transferred own or finance cargo determined by the must be followed in filing a claim for from RIN 1515-AC32 Bureau of Customs and Border a waiver or reduction of duties Agency Contact: Monika Rice Brenner, Protection to be intended for use in collected on such merchandise, and the Chief, Special Classification and humanitarian or development procedures for finalization of duty Marking Branch, Department of the assistance overseas. This amendment collections and duty waiver or Treasury, Office of Regulations and sets forth the applicability and terms reduction claims. Rulings, 1300 Pennsylvania Avenue of this exemption. Timetable: NW., Washington, DC 20229 Timetable: Phone: 202 572–8810 Action Date FR Cite Action Date FR Cite Interim Final Rule 01/01/96 Kristen VerSteeg, Attorney–Advisor, Interim Final Rule 01/08/92 57 FR 607 Effective Special Classification and Marking
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TREAS—DO Final Rule Stage
Branch, Department of the Treasury, 2388. USER AND NAVIGATION FEES; Abstract: Amendments to implement 1300 Pennsylvania Avenue NW., OTHER REIMBURSABLE CHARGES the trade benefit provisions for sub- Washington, DC 20229 Priority: Substantive, Nonsignificant Saharan Africa contained in title I of Phone: 202 572–8832 the Trade and Development Act of Legal Authority: 5 USC 301; 19 USC 2000. The trade benefits under title I, RIN: 1505–AB21 58a to 58c; 19 USC 66; 19 USC 1202; also referred to as the African Growth 19 USC 1431; 19 USC 1433; 19 USC and Opportunity Act, apply to sub- 2387. EXPANDED METHODS OF 1434; 19 USC 1505; 19 USC 1624; 31 Saharan African countries designated PAYMENT OF DUTIES, TAXES, USC 9701; 46 USC 2110 to 2112 by the President and involve the INTEREST, AND FEES CFR Citation: 19 CFR 4; 19 CFR 24; extension of duty-free treatment under the Generalized System of Preferences Priority: Substantive, Nonsignificant 19 CFR 101 (GSP) to nonimport-sensitive, Legal Deadline: None Legal Authority: 5 USC 301; 19 USC nontextile articles normally excluded 197; 19 USC 198; 19 USC 58a; 19 USC Abstract: Amendment regarding the from GSP duty-free treatment, and the 58b; 19 USC 58c; 19 USC 66; 19 USC proper assessment of user and entry of specific textile and apparel 1202; 19 USC 1450; 19 USC 1624; 31 navigation fees, as well as other articles free of duty and free of any USC 9701 reimbursement charges for customs quantitative limits. services performed in connection with, CFR Citation: Timetable: 19 CFR 24 among other things, the processing of Legal Deadline: None vehicles, vessels, aircraft, and Action Date FR Cite merchandise arriving in the United Abstract: Amendment to expand the Interim Final Rule 10/01/00 States. The purpose of the amendment number of ways that the Bureau of Effective is to conform the regulations with the Customs and Border Protection will Interim Final Rule 10/05/00 65 FR 59668 intent of the customs user fee statute accept payment of duties, taxes, fees, Interim Final Rule 12/04/00 and to reflect existing operational Comment Period interest, and other charges. Currently, policy and administrative practice in End the regulations allow for credit or this area. Final Action 09/00/04 charge cards, which have been authorized by the Commissioner of the Timetable: Regulatory Flexibility Analysis Required: No Bureau of Customs and Border Action Date FR Cite Protection (Commissioner), to be used Government Levels Affected: None at designated customs-serviced NPRM 05/01/01 66 FR 21705 Additional Information: Transferred locations with a limitation that this NPRM Comment 07/02/01 Period End from RIN 1515-AC72 method of payment may only be used Final Action 09/00/04 by noncommercial entities. Amendment Agency Contact: Leon Hayward, allows payment of duties, taxes, fees, Regulatory Flexibility Analysis Operations Officer, Department of the interest, and other charges by any Required: No Treasury, Office of Field Operations, 1300 Pennsylvania Avenue NW., electronic technology or charge cards Government Levels Affected: None (either debit or credit cards) that are Washington, DC 20229 authorized by the Commissioner and by Additional Information: Transferred Phone: 202 927–3271 removing the limitation that these from RIN 1515-AC63 methods of payment may only be used Agency Contact: Kimberly Nott, Cynthia Reese, Senior Attorney, by noncommercial entities. Operations Officer, Department of the Department of the Treasury, Room 503, Office of Regulations and Rulings, 1300 Timetable: Treasury, Office of Field Operations, 1300 Pennsylvania Avenue NW., Pennsylvania Avenue NW., Action Date FR Cite Washington, DC 20229 Washington, DC 20229 Phone: 202 572–8790 NPRM 03/17/99 64 FR 13141 Phone: 202 927–0042 NPRM Comment 05/17/99 RIN: 1505–AB24 RIN: 1505–AB26 Period End Final Action 12/00/04 2389. AFRICAN GROWTH AND 2390. EXPANDED WEEKLY ENTRY Regulatory Flexibility Analysis OPPORTUNITY ACT AND PROCEDURE FOR FOREIGN TRADE Required: No GENERALIZED SYSTEM OF ZONES Government Levels Affected: None PREFERENCES Priority: Substantive, Nonsignificant Additional Information: Transferred Priority: Substantive, Nonsignificant Legal Authority: 19 USC 66; 19 USC from RIN 1515-AC40 Legal Authority: 19 USC 66; 19 USC 81a to 81u; 19 USC 1202; 19 USC 1484i; 19 USC 1623; 19 USC 1624 Agency Contact: Linda Lloyd, 1202; 19 USC 1321; 19 USC 1481; 19 Financial Officer, Department of the USC 1484; 19 USC 1498; 19 USC 1508; CFR Citation: 19 CFR 146 Treasury, Financial Policy Division, 19 USC 1623; 19 USC 1624; 19 USC Legal Deadline: None 1300 Pennsylvania Avenue NW., 2461; 19 USC 3314; 19 USC 3721 Abstract: Amendment in conformance Washington, DC 20229 CFR Citation: 19 CFR 10; 19 CFR 163 with the Trade and Development Act Phone: 202 927–0119 Legal Deadline: Final, Statutory, of 2000 to expand the weekly entry RIN: 1505–AB22 October 1, 2000, Public Law 106–200. procedure for foreign trade zones to
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TREAS—DO Final Rule Stage
include merchandise involved in articles that are excluded from duty- Action Date FR Cite activities other than exclusively free treatment under the Caribbean assembly-line production operations. Basin Initiative program. Second NPRM 12/09/02 Under the expanded weekly procedure, Comment Period Timetable: End weekly entries covering estimated Final Action 08/00/04 removals of merchandise from a foreign Action Date FR Cite Regulatory Flexibility Analysis trade zone for any seven-day period Interim Final Rule 10/01/00 65 FR 59650 and the associated entry summaries Effective Required: No will have to be filed exclusively Interim Final Rule 10/05/00 65 FR 59650 Government Levels Affected: None through the Automated Broker Interim Final Rule 12/04/00 Additional Information: Transferred Interface, with duties, fees, and taxes Comment Period being scheduled for payment through End from RIN 1515-AC77 the Automated Clearinghouse. Final Action 09/00/04 Agency Contact: Dennis Lomax, Accountant, Department of the Timetable: Regulatory Flexibility Analysis Treasury, Accounting Services Division, Required: Action Date FR Cite No Office of Finance, Indianapolis, IN NPRM 07/25/02 67 FR 48594 Government Levels Affected: None 46278 NPRM Comment 09/23/02 Phone: 317 298–1200 Additional Information: Transferred Period End RIN: 1505–AB29 Final Action 10/00/04 from RIN 1515-AC76 Regulatory Flexibility Analysis Agency Contact: Leon Hayward, 2393. DOG AND CAT PROTECTION Required: No Operations Officer, Department of the Treasury, Office of Field Operations, ACT Government Levels Affected: None 1300 Pennsylvania Avenue NW., Priority: Substantive, Nonsignificant Additional Information: Transferred Washington, DC 20229 Legal Authority: 19 USC 66; 19 USC from RIN 1515-AC74 Phone: 202 927–3271 1202; 19 USC 1308; 19 USC 1592; 19 Agency Contact: Debbie Scott, Chief, USC 1593a; 19 USC 1624 Entry and Drawback Management, Cynthia Reese, Senior Attorney, Department of the Treasury, Office of Department of the Treasury, Room 503, CFR Citation: 19 CFR 12; 19 CFR 113; Field Operations, 1300 Pennsylvania Office of Regulations and Rulings, 1300 19 CFR 151; 19 CFR 162 Avenue NW., Washington, DC 20229 Pennsylvania Avenue NW., Legal Deadline: Final, Statutory, Phone: 202 927–1962 Washington, DC 20229 August 9, 2001, Public Law 106–476. Phone: 202 572–8790 RIN: 1505–AB27 Abstract: Amendment to implement RIN: 1505–AB28 certain provisions of the Dog and Cat Protection Act of 2000. The Dog and 2391. UNITED STATES–CARIBBEAN Cat Protection Act of 2000 prohibits the BASIN TRADE PARTNERSHIP ACT 2392. REIMBURSABLE CUSTOMS importation of any products containing AND CARIBBEAN BASIN INITIATIVE INSPECTIONAL SERVICES— INCREASE IN HOURLY RATE dog or cat fur, and provides for civil Priority: Substantive, Nonsignificant CHARGE and criminal penalties for violations of Legal Authority: 19 USC 66; 19 USC the Act. Amendment sets forth the 1202; 19 USC 1321; 19 USC 1481; 19 Priority: Substantive, Nonsignificant prohibitions on dog and cat fur USC 1484; 19 USC 1498; 19 USC 1508; Legal Authority: 5 USC 301; 5 USC importations and the penalties for 19 USC 1623; 19 USC 1624; 19 USC 6103; 19 USC 58a to 58c; 19 USC 66; violations. Amendment also 2701; 19 USC 3314 19 USC 261; 19 USC 267; 19 USC 1202; implements the provision of the Act pertaining to customs certification CFR Citation: 19 CFR 10; 19 CFR 163 19 USC 1450 to 1452; 19 USC 1456; 19 USC 1505; 19 USC 1557; 19 USC process of commercial laboratories, Legal Deadline: Final, Statutory, 1562; 19 USC 1624; 26 USC 4461; 26 both domestic and foreign, that can October 1, 2000, Public Law 106–200. USC 4462; 31 USC 9701; 46 USC 2110 determine if articles intended to be Abstract: Amendments to implement to 2112 imported into the United States contain the trade benefit provisions for dog or cat fur. Caribbean Basin countries contained in CFR Citation: 19 CFR 24; 19 CFR 101 Timetable: title II of the Trade and Development Legal Deadline: None Action Date FR Cite Act of 2000. The trade benefits under title II, also referred to as the United Abstract: Amendment to increase the NPRM 08/10/01 66 FR 42163 States-Caribbean Basin Trade rate of charge for reimbursable customs NPRM Comment 10/09/01 Partnership Act (the CBTPA), apply to inspectional services. Period End Caribbean Basin countries designated Timetable: Final Action 12/00/04 by the President and involve the entry Regulatory Flexibility Analysis Action Date FR Cite of specific textile and apparel articles Required: No free of duty and free of any quantitative NPRM 02/01/01 66 FR 8554 Government Levels Affected: None restrictions, limitations, or consultation NPRM Comment 04/02/01 levels and the extension of NAFTA Period End Additional Information: Transferred duty treatment standards to nontextile Second NPRM 10/09/02 67 FR 62920 from RIN 1515-AC87
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TREAS—DO Final Rule Stage
Agency Contact: Jeremy Baskin, Regulatory Flexibility Analysis 1300 Pennsylvania Avenue NW., Attorney–Advisor, Penalties Branch, Required: No Washington, DC 20229 Department of the Treasury, Office of Government Levels Affected: None Phone: 202 927–0162 Regulations and Rulings, 1300 Pennsylvania Avenue NW., Additional Information: Transferred Cynthia Reese, Senior Attorney, Washington, DC 20229 from RIN 1515-AC88 Department of the Treasury, Room 503, Phone: 202 572–8753 Agency Contact: Richard Walliio, Office of Regulations and Rulings, 1300 Operations Officer, Department of the Pennsylvania Avenue NW., Luan Cotter, Operations Officer, Treasury, Office of Field Operations, Washington, DC 20229 Department of the Treasury, Office of 1300 Pennsylvania Avenue NW., Phone: 202 572–8790 Field Operations, 1300 Pennsylvania Washington, DC 20229 RIN: 1505–AB33 Avenue NW., Washington, DC 20229 Phone: 202 927–9704 Phone: 202 927–1249 RIN: 1505–AB32 2396. SINGLE ENTRY FOR Renee Stevens, Science Officer, UNASSEMBLED OR DISASSEMBLED Department of the Treasury, Office of 2395. PREFERENTIAL TREATMENT ENTITIES IMPORTED ON MULTIPLE Laboratories and Scientific Services, OF BRASSIERES UNDER THE UNITED CONVEYANCES 1300 Pennsylvania Avenue NW., STATES–CARIBBEAN BASIN TRADE Priority: Substantive, Nonsignificant Washington, DC 20229 PARTNERSHIP ACT Phone: 202 927–0941 Priority: Substantive, Nonsignificant Legal Authority: 19 USC 66; 19 USC RIN: 1505–AB31 1448; 19 USC 1484; 19 USC 1624 Legal Authority: 19 USC 66; 19 USC 1202; 19 USC 1321; 19 USC 1481; 19 CFR Citation: 19 CFR 141; 19 CFR 142 2394. PROTOTYPES USED SOLELY USC 1484; 19 USC 1498; 19 USC 1508; Legal Deadline: Final, Statutory, May FOR PRODUCT DEVELOPMENT, 19 USC 1623; 19 USC 1624; 19 USC 9, 2001, Public Law 106–476. TESTING, EVALUATION, OR QUALITY 2701; 19 USC 3314 Abstract: Amendment to allow an CONTROL PURPOSES CFR Citation: 19 CFR 10; 19 CFR 163 importer of record, under certain Priority: Substantive, Nonsignificant Legal Deadline: Final, Statutory, conditions, to submit a single entry to Legal Authority: 19 USC 66; 19 USC October 1, 2001, Public Law 106–200. cover multiple portions of a single 1202; 19 USC 1321; 19 USC 1481; 19 Abstract: Amendment to implement entity which, due to its size or nature, USC 1484; 19 USC 1498; 19 USC 1508; those provisions within the United arrives in the United States on separate 19 USC 1623; 19 USC 1624; PL States-Caribbean Basin Trade conveyances. Amendment implements 106–476 Partnership Act (the CBTPA) that statutory changes made to the merchandise entry laws by the Tariff CFR Citation: 19 CFR 10; 19 CFR 163 establish standards for preferential treatment for brassieres imported from Suspension and Trade Act of 2000. Legal Deadline: Final, Statutory, CBTPA beneficiary countries. The Timetable: September 9, 2001, Public Law amendments involve specifically the 106–476. methods, procedures, and related Action Date FR Cite Abstract: Amendment to establish rules standards that will apply for purposes NPRM 04/08/02 67 FR 16664 and procedures under the Product of determining compliance with the 75 NPRM Comment 06/07/02 Development and Testing Act of 2000 percent aggregate U.S. fabric Period End (PDTA). The purpose of the PDTA is components content requirement under Final Action 10/00/04 to promote product development and the CBTPA brassieres provision. Regulatory Flexibility Analysis testing in the United States by allowing Timetable: Required: No the duty-free entry of articles, commonly referred to as prototypes, Action Date FR Cite Government Levels Affected: None that are to be used exclusively in Interim Final Rule 10/04/01 66 FR 50534 Additional Information: Transferred product development, testing, Interim Final Rule 10/04/01 from RIN 1515-AC94 evaluation, and quality control. Effective Amendments set forth the procedures Correction 10/11/01 66 FR 51864 Agency Contact: Gina Grier, Attorney, for both the identification of those Interim Final Rule 12/03/01 Entry Procedures and Carriers Branch, prototypes properly entitled to duty- Comment Period Department of the Treasury, Office of free entry,as well as the permissible End Regulations and Rulings, 1300 sale of such prototypes, following use Final Action 08/00/04 Pennsylvania Avenue NW., in the United States, as scrap, waste, Regulatory Flexibility Analysis Washington, DC 20229 or for recycling. Required: No Phone: 202 572–8730 Timetable: Government Levels Affected: None Robert E. Watt, Program Officer, Action Date FR Cite Additional Information: Transferred Department of the Treasury, Office of from RIN 1515-AC89 Field Operations, 1300 Pennsylvania NPRM 03/08/02 67 FR 10636 Avenue NW., Washington, DC 20229 Agency Contact: Dick Crichton, NPRM Comment 04/08/02 Phone: 202 927–0279 Period End Operations Officer, Department of the Final Action 08/00/04 Treasury, Office of Field Operations, RIN: 1505–AB34
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2397. IMPLEMENTATION OF THE Phone: 202 572–8790 Treasury, Office of Field Operations, ANDEAN TRADE PROMOTION AND 1300 Pennsylvania Avenue NW., DRUG ERADICATION ACT Robert Abels, Operations Officer, Washington, DC 20229 Priority: Substantive, Nonsignificant Department of the Treasury, Office of Phone: 202 927–1959 Field Operations, 1300 Pennsylvania Legal Authority: 19 USC 66; 19 USC Avenue NW., Washington, DC 20229 Cynthia Reese, Senior Attorney, 1202; 19 USC 1321; 19 USC 1481; 19 Phone: 202 927–1959 Department of the Treasury, Room 503, USC 1484; 19 USC 1498; 19 USC 1508; RIN: 1505–AB37 Office of Regulations and Rulings, 1300 19 USC 1623; 19 USC 1624; 19 USC Pennsylvania Avenue NW., 3203; 19 USC 3314 Washington, DC 20229 CFR Citation: 19 CFR 10; 19 CFR 163 2398. TRADE BENEFITS UNDER THE Phone: 202 572–8790 AFRICAN GROWTH AND Legal Deadline: None OPPORTUNITY ACT RIN: 1505–AB38 Abstract: Amendment to implement Priority: Substantive, Nonsignificant the trade benefit provisions for Andean 2399. FEES FOR CUSTOMS Legal Authority: countries contained in title XXXI of the 19 USC 66; 19 USC PROCESSING AT EXPRESS COURIER 1202; 19 USC 1321; 19 USC 1481; 19 Trade Act of 2002. The trade benefits FACILITIES under title XXXI, also referred to as the USC 1484; 19 USC 1498; 19 USC 1508; Andean Trade Promotion and Drug 19 USC 1623; 19 USC 1624; 19 USC Priority: Substantive, Nonsignificant Eradication Act (the ATPDEA), apply 3721; 19 USC 3314 Legal Authority: 5 USC 301; 19 USC to Andean countries specifically CFR Citation: 19 CFR 10 58a to 58c; 19 USC 66; 19 USC 1202; 19 USC 1505; 19 USC 261; 19 USC 267; designated by the President for Legal Deadline: None ATPDEA purposes. The ATPDEA trade 19 USC 1450 to 1452; 19 USC 1456; benefits involve the entry of specific Abstract: Amendment to those 19 USC 1524; 19 USC 1557; 19 USC apparel and other textile articles free provisions of the Customs Regulations 1562; 19 USC 1624; 26 USC 4461; 26 of duty and free of any quantitative that implement the trade benefit USC 4462; 19 USC 3332; 46 USC 2110 restrictions, limitations, or consultation provisions for sub-Saharan African to 2112 countries contained in the African levels, the extension of duty-free CFR Citation: Growth and Opportunity Act (the 19 CFR 24; 19 CFR 113; treatment to specified nontextile 19 CFR 128 articles normally excluded from duty- AGOA). Amendments involve the free treatment under the Andean Trade textile and apparel provisions of the Legal Deadline: None Preference Act (ATPA) program if the AGOA and in part reflect changes to Abstract: Amendment to implement President finds those articles to be not those statutory provisions by section amendments to the customs user fee import-sensitive in the context of the 3108 of the Trade Act of 2002. The statute made by section 337 of the ATPDEA, and the entry of certain specific statutory changes involve the Trade Act of 2002. Statutory imports of tuna free of duty and free amendment of several provisions to amendments concern the fees payable of any quantitative restrictions. clarify the status of apparel articles for customs services provided in Timetable: assembled from knit-to-shape connection with the informal entry or components, the inclusion of a specific release of shipments at express Action Date FR Cite reference to apparel articles formed on consignment carrier facilities and Interim Final Rule 03/25/03 68 FR 14478 seamless knitting machines, a change centralized hub facilities. The effect of Interim Final Rule 03/25/03 of the wool fiber diameter specified in the statutory amendments is to replace Effective one provision, and the addition of a the annual lump sum payment Interim Final Rule 05/27/03 new provision to cover additional procedure with a quarterly payment Comment Period production scenarios involving the procedure based on a specific fee for End United States and AGOA beneficiary each individual airway bill or bill of Final Action 10/00/04 countries. lading. Regulatory Flexibility Analysis Timetable: Timetable: Required: No Action Date FR Cite Action Date FR Cite Government Levels Affected: None Interim Final Rule 03/21/03 68 FR 13820 Interim Final Rule 11/00/04 Additional Information: Transferred Interim Final Rule 03/21/03 from RIN 1515-AD19 Effective Regulatory Flexibility Analysis Required: Agency Contact: Leon Hayward, Interim Final Rule 05/20/03 No Operations Officer, Department of the Comment Period Government Levels Affected: None Treasury, Office of Field Operations, End Final Action 09/00/04 Additional Information: Transferred 1300 Pennsylvania Avenue NW., from RIN 1515-AD21 Washington, DC 20229 Regulatory Flexibility Analysis Agency Contact: Joseph Lanzante, Phone: 202 927–3271 Required: No Operations Officer, Department of the Government Levels Affected: None Cynthia Reese, Senior Attorney, Treasury, Office of Field Operations, Department of the Treasury, Room 503, Additional Information: Transferred 1300 Pennsylvania Avenue NW., Office of Regulations and Rulings, 1300 from RIN 1515-AD20 Washington, DC 20229 Pennsylvania Avenue NW., Agency Contact: Robert Abels, Phone: 202 927–5246 Washington, DC 20229 Operations Officer, Department of the RIN: 1505–AB39
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TREAS—DO Final Rule Stage
2400. TRADE BENEFITS UNDER THE Cynthia Reese, Senior Attorney, 2402. MERCHANDISE PROCESSING CARIBBEAN BASIN ECONOMIC Department of the Treasury, Room 503, FEES ELIGIBLE TO BE CLAIMED AS RECOVERY ACT Office of Regulations and Rulings, 1300 CERTAIN TYPES OF DRAWBACK BASED ON SUBSTITUTION OF Priority: Substantive, Nonsignificant Pennsylvania Avenue NW., Washington, DC 20229 FINISHED PETROLEUM DERIVATIVES Legal Authority: 19 USC 66; 19 USC Phone: 202 572–8790 Priority: Substantive, Nonsignificant 1202; 19 USC 1321; 19 USC 1481; 19 USC 1484; 19 USC 1498; 19 USC 1508; RIN: 1505–AB40 Legal Authority: 5 USC 301; 19 USC 19 USC 1623; 19 USC 1624; 19 USC 66; 19 USC 1202; 19 USC 1313; 19 USC 2701; 19 USC 3314 1624 2401. TARIFF TREATMENT RELATED CFR Citation: 19 CFR 191 CFR Citation: 19 CFR 10 TO DISASSEMBLY OPERATIONS Legal Deadline: None Legal Deadline: None UNDER THE NORTH AMERICAN FREE TRADE AGREEMENT (NAFTA) Abstract: Amendment to provide that Abstract: Amendment to implement merchandise processing fees are eligible the trade benefits for Caribbean Basin Priority: Substantive, Nonsignificant to be claimed, in limited circumstances, countries contained in section 213(b) of as drawback based on substitution of Legal Authority: 19 USC 66; 19 USC the Caribbean Basin Economic finished petroleum derivatives. 1202; 19 USC 1624; 19 USC 3314 Recovery Act (the CBERA). Amendment is consistent with a court Amendments involve the textile and CFR Citation: 19 CFR 181 decision in which merchandise apparel provisions of section 213(b) processing fees were found to be and in part reflect changes made to Legal Deadline: None eligible to be claimed as unused those statutory provisions by section merchandise drawback. As drawback 3107 of the Trade Act of 2002. The Abstract: Amendment to amend the based on substitution of finished specific statutory changes involve the Customs Regulations concerning the petroleum derivatives is, in limited amendment of several provisions to North American Free Trade Agreement circumstances, treated in the same clarify the status of apparel articles (NAFTA) to allow components that are manner as unused merchandise assembled from knit-to-shape recovered from the disassembly of used drawback, the amendment reflects that components, the addition of language goods in a NAFTA country to be merchandise processing fees are also requiring any dyeing, printing, and entitled to NAFTA originating status eligible to be claimed as drawback in finishing of certain fabrics to be done when imported into the United States, these circumstances. in the United States, the inclusion of provided that: the recovered Timetable: exception language in the brassieres components satisfy the applicable provision regarding articles entered NAFTA rules of origin requirements; Action Date FR Cite under other CBERA apparel provisions, and where the applicable rule of origin NPRM 10/02/03 68 FR 56804 the addition of a provision permitting does not include a regional value NPRM Comment 12/01/03 the dyeing, printing, and finishing of content requirement, the components Period End thread in the Caribbean region, and the are subject tofurther processing in the Final Action 08/00/04 addition of a new provision to cover NAFTA country beyond certain minor Regulatory Flexibility Analysis additional production scenarios operations. involving the United States and the Required: No Caribbean region. Timetable: Small Entities Affected: No Timetable: Action Date FR Cite Government Levels Affected: None Action Date FR Cite NPRM 03/13/03 68 FR 12011 Additional Information: Transferred from RIN 1515-AD32 Interim Final Rule 03/21/03 68 FR 13827 NPRM Comment 05/12/03 Interim Final Rule 03/21/03 Period End Agency Contact: William G. Rosoff, Effective Final Action 10/00/04 Chief, Duty Refund and Determination Interim Final Rule 05/20/03 Branch, Department of the Treasury, Comment Period Regulatory Flexibility Analysis Office of Regulations and Rulings, 1300 End Required: No Pennsylvania Avenue NW., Final Action 09/00/04 Washington, DC 20229 Government Levels Affected: None Regulatory Flexibility Analysis Phone: 202 572–8807 Required: No Additional Information: Transferred RIN: 1505–AB44 from RIN 1515-AD23 Government Levels Affected: None 2403. • UNITED STATES – CHILE Additional Information: Agency Contact: Edward M. Leigh, Transferred FREE TRADE AGREEMENT from RIN 1515-AD22 Attorney, Special Classification and Marking Branch, Department of the Priority: Substantive, Nonsignificant Agency Contact: Robert Abels, Treasury, Office of Regulations and Legal Authority: 19 USC 3805 note; 19 Operations Officer, Department of the Rulings, 1300 Pennsylvania Avenue USC 1202; 19 USC 66; 19 USC 1624; Treasury, Office of Field Operations, NW., Washington, DC 20229 ... 1300 Pennsylvania Avenue NW., Phone: 202 572–8827 Washington, DC 20229 CFR Citation: 19 CFR 10; 19 CFR 12; Phone: 202 927–1959 RIN: 1505–AB41 19 CFR 24; 19 CFR 163; . . .
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Legal Deadline: Final, Statutory, Robert Abels, Operations Officer, Free Trade Agreement entered into by January 1, 2005, United States–Chile Department of the Treasury, Office of the United States and the Republic of Free Trade Agreement Implementation Field Operations, 1300 Pennsylvania Singapore. Act. Avenue NW., Washington, DC 20229 Timetable: Phone: 202 927–1959 Abstract: This will implement the Action Date FR Cite preferential tariff treatment and other RIN: 1505–AB47 customs-related provisions of the Free Interim Final Rule 12/00/04 Trade Agreement entered into by the 2404. • UNITED STATES – Regulatory Flexibility Analysis United States and the Republic of SINGAPORE FREE TRADE Required: No Chile. AGREEMENT Government Levels Affected: None Timetable: Priority: Substantive, Nonsignificant Agency Contact: Carol McDaniel, Action Date FR Cite Legal Authority: 19 USC 3805 note; 19 Operations Officer, Department of the Interim Final Rule 09/00/04 USC 1202; 19 USC 66; 19 USC 1624; Treasury, Office of Field Operations, Regulatory Flexibility Analysis ... 1300 Pennsylvania Avenue NW., Washington, DC 20229 Required: No CFR Citation: 19 CFR 10; 19 CFR 12; Phone: 202 927–0300 Government Levels Affected: None 19 CFR 24; 19 CFR 163; . . . Robert Abels, Operations Officer, Agency Contact: Carol McDaniel, Legal Deadline: Final, Statutory, Department of the Treasury, Office of Operations Officer, Department of the January 1, 2005, U.S.–Singapore Free Field Operations, 1300 Pennsylvania Treasury, Office of Field Operations, Trade Agreement Implementation Act. Avenue NW., Washington, DC 20229 1300 Pennsylvania Avenue NW., Abstract: Amendment to implement Phone: 202 927–1959 Washington, DC 20229 the preferential tariff treatment and Phone: 202 927–0300 other customs-related provisions of the RIN: 1505–AB48
Department of the Treasury (TREAS) Long-Term Actions Departmental Offices (DO)
2405. POSSIBLE REGULATION OF Action Date FR Cite 2408. SECRETARY’S DETERMINATION ACCESS TO ACCOUNTS AT OF REAL ESTATE BROKERAGE FINANCIAL INSTITUTIONS THROUGH Interim Final Rule 03/14/00 PAYMENT SERVICE PROVIDERS Effective Priority: Substantive, Nonsignificant Interim Final Rule 05/15/00 Priority: Substantive, Nonsignificant. Comment Period CFR Citation: 12 CFR 1501.2 Major status under 5 USC 801 is End undetermined. Next Action Undetermined Timetable: CFR Citation: 31 CFR ch II Regulatory Flexibility Analysis Action Date FR Cite Timetable: Required: No NPRM 01/03/01 66 FR 307 Government Levels Affected: None NPRM Comment 03/02/01 Action Date FR Cite Period End ANPRM 01/08/99 64 FR 1149 Agency Contact: Gary W. Sutton NPRM Comment 05/01/01 66 FR 12440 ANPRM Comment 04/08/99 Phone: 202 622–1976 Period Extended Period End Fax: 202 622–1974 Next Action Undetermined Next Action Undetermined Email: [email protected] Regulatory Flexibility Analysis Regulatory Flexibility Analysis RIN: 1505–AA80 Required: No Required: Undetermined Government Levels Affected: Government Levels Affected: None 2407. FINANCIAL SUBSIDIARIES None Agency Contact: Roger Bezdek Priority: Substantive, Nonsignificant Agency Contact: Gary W. Sutton Phone: 202 622–1807 Phone: 202 622–1976 CFR Citation: Not Yet Determined RIN: 1505–AA74 Fax: 202 622–1974 Timetable: Next Action Undetermined Email: [email protected] 2406. FINANCIAL ACTIVITIES OF Regulatory Flexibility Analysis RIN: 1505–AA84 FINANCIAL SUBSIDIARIES Required: No Priority: Substantive, Nonsignificant Government Levels Affected: None 2409. SECRETARY’S DETERMINATION CFR Citation: Not Yet Determined Agency Contact: Gary W. Sutton OF OTHER ACTIVITIES FINANCIAL IN Phone: 202 622–1976 NATURE Timetable: Fax: 202 622–1974 Action Date FR Cite Email: [email protected] Priority: Substantive, Nonsignificant Interim Final Rule 03/20/00 65 FR 14819 RIN: 1505–AA81 CFR Citation: 12 CFR 1501.2
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TREAS—DO Long-Term Actions
Timetable: Phone: 202 622–8530 Action Date FR Cite Action Date FR Cite Fax: 202 622–8244 Email: [email protected] Interim Final Rule 04/28/97 Interim Final Rule 01/02/01 66 FR 257 Comment Period Interim Final Rule 01/02/01 RIN: 1505–AA91 End Effective Final Action To Be Determined Interim Final Rule 02/02/01 2411. TERRORISM RISK INSURANCE Regulatory Flexibility Analysis Comment Period PROGRAM; RECOUPMENTS OF Required: No End FEDERAL SHARE OF Next Action Undetermined Government Levels Affected: None COMPENSATION FOR INSURED Regulatory Flexibility Analysis LOSSES Agency Contact: Leon Hayward Required: No Phone: 202 927–3271 Priority: Other Significant. Major status Government Levels Affected: None under 5 USC 801 is undetermined. Related RIN: Related to 1515–AC62 RIN: Agency Contact: Gary W. Sutton CFR Citation: 31 CFR 50 1505–AB18 Phone: 202 622–1976 Timetable: Fax: 202 622–1974 2413. ENTRY OF SOFTWOOD Email: [email protected] Action Date FR Cite LUMBER SHIPMENTS FROM CANADA RIN: 1505–AA85 NPRM To Be Determined Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis CFR Citation: 19 CFR 12 2410. BANK ENTERPRISE AWARD Required: No (BEA) PROGRAM Timetable: Government Levels Affected: None Priority: Substantive, Nonsignificant Action Date FR Cite Agency Contact: Howard Leikin CFR Citation: 12 CFR 1806 Interim Final Rule 05/23/00 65 FR 33251 Phone: 202 622–6770 Interim Final Rule 05/23/00 Timetable: RIN: 1505–AB10 Effective Action Date FR Cite Interim Final Rule 07/24/00 Comment Period Interim Final Rule 02/04/03 68 FR 5717 2412. ENTRY OF SOFTWOOD End Interim Final Rule 04/07/03 LUMBER SHIPMENTS FROM CANADA Final Action To Be Determined Comment Period End Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis Required: Next Action Undetermined CFR Citation: 19 CFR 12; 19 CFR 113 No Government Levels Affected: None Regulatory Flexibility Analysis Timetable: Required: No Agency Contact: Leon Hayward Action Date FR Cite Small Entities Affected: No Phone: 202 927–3271 Interim Final Rule 02/26/97 62 FR 8620 Government Levels Affected: None Related RIN: Related to 1505–AB18 Interim Final Rule 02/26/97 Agency Contact: Jeffrey C. Berg Effective RIN: 1505–AB23
Department of the Treasury (TREAS) Completed Actions Departmental Offices (DO)
2414. COMMON RULE SUSPENSION Phone: 202 622–0808 Phone: 202 622–0808 AND DEBARMENT Fax: 202 622–2318 Fax: 202 622–2318 Priority: Substantive, Nonsignificant RIN: 1505–AA86 RIN: 1505–AA90 CFR Citation: 31 CFR 19; 31 CFR 20 Completed: 2415. TREASURY DEBT COLLECTION 2416. COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFI) Priority: Substantive, Nonsignificant Reason Date FR Cite PROGRAM; REPORTING Interim Final Rule 11/26/03 68 FR 66605 CFR Citation: 31 CFR 5 REQUIREMENTS Interim Final Rule 01/26/04 Completed: Priority: Substantive, Nonsignificant Comment Period End Reason Date FR Cite CFR Citation: 12 CFR 1805 No Further Action To 05/17/04 No Further Action To 05/17/04 Completed: Be Taken Be Taken Reason Date FR Cite Regulatory Flexibility Analysis Regulatory Flexibility Analysis Required: Withdrawn – Project 04/05/04 No Required: No Discontinued Government Levels Affected: None Government Levels Affected: Federal Regulatory Flexibility Analysis Agency Contact: Brian Lee Agency Contact: Brian Lee Required: No
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TREAS—DO Completed Actions
Government Levels Affected: None Completed: Act in accordance with the United Agency Contact: Jeffrey C. Berg Reason Date FR Cite Nations Educational Scientific and Phone: 202 622–8530 Cultural Organization Convention on Final Action 07/24/03 68 FR 43624 Fax: 202 622–8244 the Means of Prohibiting and Final Action Effective 07/24/03 Email: [email protected] Preventing the Illicit Import, Export Regulatory Flexibility Analysis and Transfer of Cultural Property. RIN: 1505–AA93 Required: No Timetable: Government Levels Affected: None 2417. REQUIREMENTS FOR FUTURE Action Date FR Cite Agency Contact: Suzanne Kingsbury CUSTOMS TRANSACTIONS WHEN Final Action 03/16/04 69 FR 12267 PAYMENT TO CUSTOMS ON PRIOR Phone: 202 572–8763 Final Action Effective 03/16/04 TRANSACTIONS IS DELINQUENT RIN: 1505–AB43 AND/OR DISHONORED Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant 2419. • IMPORT RESTRICTIONS Required: No CFR Citation: 19 CFR 142; 19 CFR 24 IMPOSED ON ARCHAEOLOGICAL Government Levels Affected: None Completed: MATERIAL ORIGINATING IN HONDURAS Agency Contact: Joseph Howard, Reason Date FR Cite Priority: Substantive, Nonsignificant Attorney, Intellectual Property Rights Withdrawn 06/11/04 Branch, Department of the Treasury, Legal Authority: 5 USC 301; 19 USC Office of Regulations and Rulings, 1300 Regulatory Flexibility Analysis 66; 19 USC 1202; 19 USC 2612 Pennsylvania Avenue NW., Required: No CFR Citation: 19 CFR 12 Washington, DC 20229 Government Levels Affected: None Legal Deadline: None Phone: 202 572–8701 Agency Contact: Robert Reiley Abstract: Amendment to reflect the Phone: 202 927–1504 Michael Craig, Chief, Other imposition of import restrictions on Government Agency Branch, RIN: 1505–AB25 certain archaeological material Department of the Treasury, Trade originating in the Republic of Compliance and Facilitation, Office of 2418. REFUND OF DUTIES PAID ON Honduras. These restrictions are being Field Operations, 1300 Pennsylvania IMPORTS OF CERTAIN WOOL imposed pursuant to an agreement Avenue NW., Washington, DC 20229 PRODUCTS between the United States and Phone: 202 927–0370 Honduras that has been entered into Priority: Substantive, Nonsignificant under the authority of the Convention RIN: 1505–AB50 CFR Citation: 19 CFR 10 on Cultural Property Implementation BILLING CODE 4820—02—S
Department of the Treasury (TREAS) Prerule Stage Financial Crimes Enforcement Network (FINCEN)
2420. CUSTOMER IDENTIFICATION an account, to the extent reasonable Regulatory Flexibility Analysis PROGRAMS FOR PAWN BROKERS and practicable; maintain records of the Required: Undetermined Priority: Substantive, Nonsignificant information used to verify the person’s identity; and determine whether the Government Levels Affected: None Legal Authority: PL 107–56, sec 326 person appears on any lists of known Agency Contact: Office of the Chief CFR Citation: Not Yet Determined or suspected terrorists or terrorist Counsel, Department of the Treasury, organizations provided to them by any Legal Deadline: None Financial Crimes Enforcement Network, Government agency. P.O. Box 39, Vienna, VA 22183 Abstract: This regulation will require Timetable: Phone: 703 905–3590 pawn brokers to adopt and implement Fax: 703 905–3735 reasonable procedures to verify the Action Date FR Cite identity of any person seeking to open ANPRM 12/00/04 RIN: 1506–AA39
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Department of the Treasury (TREAS) Proposed Rule Stage Financial Crimes Enforcement Network (FINCEN)
2421. AMENDMENT TO THE BANK Regulatory Flexibility Analysis seeking to open an account, to the SECRECY ACT REGULATIONS— Required: Undetermined extent reasonable and practicable; DELEGATION OF AUTHORITY TO Government Levels Affected: None maintain records of the information ASSESS CIVIL MONEY PENALTIES used to verify the person’s identity; and ON DEPOSITORY INSTITUTIONS Agency Contact: Office of the Chief determine whether the person appears Counsel, Department of the Treasury, Priority: Substantive, Nonsignificant on any lists of known or suspected Financial Crimes Enforcement Network, terrorists or terrorist organizations Legal Authority: 31 USC 5321(e), Bank P.O. Box 39, Vienna, VA 22183 provided to them by any Government Secrecy Act Phone: 703 905–3590 agency. Fax: 703 905–3735 CFR Citation: 31 CFR 103 Timetable: Legal Deadline: RIN: 1506–AA38 None Action Date FR Cite Abstract: This notice of proposed ANPRM 02/24/03 68 FR 8568 rulemaking proposes to delegate to the 2423. CUSTOMER IDENTIFICATION PROGRAMS FOR LOAN AND ANPRM Comment 04/10/03 appropriate Federal banking regulatory Period End FINANCE COMPANIES agencies, the authority to assess civil NPRM 12/00/04 money penalties on depository Priority: Substantive, Nonsignificant institutions for violations of the Bank Regulatory Flexibility Analysis Secrecy Act. The regulation would Legal Authority: PL 107–56, sec 326 Required: Undetermined prescribe the parameters of the CFR Citation: Not Yet Determined Government Levels Affected: None delegated authority. Legal Deadline: None Agency Contact: Office of the Chief Timetable: Abstract: This regulation will require Counsel, Department of the Treasury, Action Date FR Cite loan and finance companies to adopt Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183 NPRM 12/00/04 and implement reasonable procedures to verify the identity of any person Phone: 703 905–3590 Regulatory Flexibility Analysis seeking to open an account, to the Fax: 703 905–3735 Required: No extent reasonable and practicable; RIN: 1506–AA41 Government Levels Affected: Federal maintain records of the information used to verify the person’s identity; and Agency Contact: Office of the Chief • determine whether the person appears 2425. IMPOSITION OF SPECIAL Counsel, Department of the Treasury, MEASURES AGAINST A FINANCIAL Financial Crimes Enforcement Network, on any lists of known or suspected terrorists or terrorist organizations INSTITUTION AND ITS SUBSIDIARIES P.O. Box 39, Vienna, VA 22183 AS A FINANCIAL INSTITUTION OF Phone: 703 905–3590 provided to them by any Government agency. PRIMARY MONEY LAUNDERING Fax: 703 905–3735 CONCERN Timetable: RIN: 1506–AA08 Priority: Substantive, Nonsignificant. Action Date FR Cite Major status under 5 USC 801 is 2422. CUSTOMER IDENTIFICATION NPRM 12/00/04 undetermined. PROGRAMS FOR TRAVEL AGENTS Regulatory Flexibility Analysis Legal Authority: 31 USC 5318A Priority: Substantive, Nonsignificant Required: Undetermined CFR Citation: 31 CFR 103.189 Legal Authority: PL 107–56, sec 326 Government Levels Affected: None Legal Deadline: None CFR Citation: Not Yet Determined Agency Contact: Office of the Chief Abstract: This document will prohibit Legal Deadline: None Counsel, Department of the Treasury, certain U.S. financial institutions from Financial Crimes Enforcement Network, maintaining correspondent or payable- Abstract: This regulation will require P.O. Box 39, Vienna, VA 22183 through accounts in the U.S. for, or on travel agents to adopt and implement Phone: 703 905–3590 behalf of, a foreign bank determined to reasonable procedures to verify the Fax: 703 905–3735 be of primary money laundering identity of any person seeking to open concern. an account, to the extent reasonable RIN: 1506–AA40 and practicable; maintain records of the Timetable: information used to verify the person’s 2424. CUSTOMER IDENTIFICATION Action Date FR Cite identity; and determine whether the PROGRAMS FOR SELLERS OF NPRM 07/00/04 person appears on any lists of known VEHICLES or suspected terrorists or terrorist Regulatory Flexibility Analysis organizations provided to them by any Priority: Substantive, Nonsignificant Required: No Government agency. Legal Authority: PL 107–56, sec 326 Small Entities Affected: No Timetable: CFR Citation: Not Yet Determined Government Levels Affected: None Action Date FR Cite Legal Deadline: None Agency Contact: Office of the Chief ANPRM 02/24/03 68 FR 8571 Abstract: This regulation will require Counsel, Department of the Treasury, ANPRM Comment 04/10/03 sellers of vehicles to adopt and Financial Crimes Enforcement Network, Period End implement reasonable procedures to P.O. Box 39, Vienna, VA 22183 NPRM 12/00/04 verify the identity of any person Phone: 703 905–3590
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TREAS—FINCEN Proposed Rule Stage
Fax: 703 905–3735 Government Levels Affected: None laundering program requirements for RIN: 1506–AA65 Agency Contact: Office of the Chief persons involved in real estate closings Counsel, Department of the Treasury, and settlements, as defined in the Bank Financial Crimes Enforcement Network, Secrecy Act. 2426. • IMPOSITION OF SPECIAL P.O. Box 39, Vienna, VA 22183 MEASURES AGAINST A FINANCIAL Timetable: Phone: 703 905–3590 INSTITUTION AS A FINANCIAL Action Date FR Cite Fax: 703 905–3735 INSTITUTION OF PRIMARY MONEY NPRM 12/00/04 LAUNDERING CONCERN Related RIN: Split from 1506–AA28 Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant RIN: 1506–AA69 Required: No Legal Authority: 31 USC 5318A • Government Levels Affected: None CFR Citation: 31 CFR 103.190 2428. AMENDMENTS TO THE BANK SECRECY ACT REGULATIONS— Agency Contact: Office of the Chief Legal Deadline: None ANTI–MONEY LAUNDERING Counsel, Department of the Treasury, Abstract: This document will prohibit PROGRAMS FOR LOAN AND Financial Crimes Enforcement Network, certain U.S. financial institutions from FINANCE COMPANIES P.O. Box 39, Vienna, VA 22183 maintaining correspondent or payable- Priority: Substantive, Nonsignificant Phone: 703 905–3590 through accounts in the U.S. for, or on Fax: 703 905–3735 Legal Authority: behalf of, a foreign financial institution 31 USC 5316(h) Related RIN: determined to be of primary money CFR Citation: 31 CFR 103.65; 31 CFR Split from 1506–AA28 laundering concern. 103.66; 31 CFR 103.67 RIN: 1506–AA79 Timetable: Legal Deadline: Final, Statutory, April 24, 2002, PL 107–56, sec 352. Action Date FR Cite 2430. • AMENDMENTS TO THE BANK Abstract: FinCEN will issue a series of SECRECY ACT REGULATIONS— NPRM 07/00/04 regulations regarding anti-money ANTI–MONEY LAUNDERING Regulatory Flexibility Analysis laundering program requirements for PROGRAMS FOR BUSINESSES Required: No loan and finance companies, as defined ENGAGED IN VEHICLE SALES, Small Entities Affected: No in the Bank Secrecy Act. INCLUDING AUTOMOBILES, AIRPLANE, AND BOAT SALES Government Levels Affected: None Timetable: Priority: Substantive, Nonsignificant Agency Contact: Office of the Chief Action Date FR Cite Counsel, Department of the Treasury, NPRM 12/00/04 Legal Authority: 31 USC 5316(h) Financial Crimes Enforcement Network, Regulatory Flexibility Analysis CFR Citation: 31 CFR 103.65; 31 CFR P.O. Box 39, Vienna, VA 22183 Required: No 103.66; 31 CFR 103.67 Phone: 703 905–3590 Fax: 703 905–3735 Government Levels Affected: None Legal Deadline: Final, Statutory, April RIN: 1506–AA67 Agency Contact: Office of the Chief 24, 2002, PL 107–56, sec 352. Counsel, Department of the Treasury, Abstract: FinCEN will issue a series of Financial Crimes Enforcement Network, regulations regarding anti-money 2427. • AMENDMENTS TO THE BANK P.O. Box 39, Vienna, VA 22183 SECRECY ACT REGULATIONS— laundering program requirements for Phone: 703 905–3590 businesses engaged in vehicle sales, ANTI–MONEY LAUNDERING Fax: 703 905–3735 PROGRAMS FOR TRAVEL AGENCIES including automobile, airplane, and Related RIN: Split from 1506–AA28 boat sales, as defined in the Bank Priority: Substantive, Nonsignificant RIN: 1506–AA73 Secrecy Act. Legal Authority: 31 USC 5316(h) Timetable: CFR Citation: 31 CFR 103.65; 31 CFR 2429. • AMENDMENTS TO THE BANK Action Date FR Cite 103.66; 31 CFR 103.67 SECRECY ACT REGULATIONS— NPRM 12/00/04 Legal Deadline: Final, Statutory, April ANTI–MONEY LAUNDERING 24, 2002, PL 107–56, sec 352. PROGRAMS FOR PERSONS Regulatory Flexibility Analysis Required: Abstract: FinCEN will issue a series of INVOLVED IN REAL ESTATE No regulations regarding anti-money CLOSINGS AND SETTLEMENTS Government Levels Affected: None laundering program requirements for Priority: Substantive, Nonsignificant Agency Contact: travel agencies, as defined in the Bank Office of the Chief Legal Authority: 31 USC 5316(h) Secrecy Act. Counsel, Department of the Treasury, CFR Citation: 31 CFR 103.65; 31 CFR Financial Crimes Enforcement Network, Timetable: 103.66; 31 CFR 103.67 P.O. Box 39, Vienna, VA 22183 Action Date FR Cite Phone: 703 905–3590 Legal Deadline: Final, Statutory, April Fax: 703 905–3735 NPRM 12/00/04 24, 2002, PL 107–56, sec 352. Related RIN: Split from 1506–AA28 Regulatory Flexibility Analysis Abstract: FinCEN will issue a series of Required: No regulations regarding anti-money RIN: 1506–AA80
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Department of the Treasury (TREAS) Final Rule Stage Financial Crimes Enforcement Network (FINCEN)
2431. AMENDMENT TO THE BANK Timetable: 2434. DUE DILIGENCE SECRECY ACT REGULATIONS Action Date FR Cite REQUIREMENTS FOR REGARDING REPORTING OF CORRESPONDENT ACCOUNTS AND CROSS–BORDER TRANSPORTATION Interim Final Rule 07/28/00 65 FR 46356 PRIVATE BANKING ACCOUNTS OF CERTAIN MONETARY Interim Final Rule 07/31/00 Priority: Substantive, Nonsignificant INSTRUMENTS Effective Interim Final Rule 09/26/00 Legal Authority: 31 USC 5318(i) Priority: Substantive, Nonsignificant Comment Period CFR Citation: Legal Authority: 31 USC 5312(a)(3), End 31 CFR 103.175 to Bank Secrecy Act Final Action 12/00/04 103.178 Regulatory Flexibility Analysis CFR Citation: 31 CFR 103 Legal Deadline: Final, Statutory, July Required: No 23, 2002, Public Law 107–56, sec 312. Legal Deadline: None Small Entities Affected: No Abstract: Section 5318(i) of 31 U.S.C., Abstract: This rule will require Government Levels Affected: None added by section 312 of the Uniting reporting of cross-border transportation and Strengthening America by of certain negotiable instruments. Agency Contact: Office of the Chief Counsel, Department of the Treasury, Providing Appropriate Tools Required Timetable: Financial Crimes Enforcement Network, to Intercept and Obstruct Terrorism Act (USA PATRIOT Act) of 2001, requires Action Date FR Cite P.O. Box 39, Vienna, VA 22183 Phone: 703 905–3590 U.S. financial institutions to establish NPRM 01/22/97 62 FR 3249 Fax: 703 905–3735 due diligence policies, procedures, and NPRM Comment 04/22/97 controls reasonably designed to detect Period End RIN: 1506–AA23 and report money laundering through Final Action 12/00/04 correspondent accounts and private Regulatory Flexibility Analysis 2433. AMENDMENT TO THE BANK banking accounts that U.S. financial Required: No SECRECY ACT REGULATIONS— institutions establish or maintain for non-U.S. persons. Section 312 takes Government Levels Affected: None REQUIREMENT THAT NONFINANCIAL TRADES OR BUSINESSES REPORT effect on July 23, 2002, whether or not Agency Contact: Office of the Chief CERTAIN CURRENCY Treasury has issued a final rule Counsel, Department of the Treasury, TRANSACTIONS implementing that provision. Financial Crimes Enforcement Network, Priority: Substantive, Nonsignificant Timetable: P.O. Box 39, Vienna, VA 22183 Phone: 703 905–3590 Legal Authority: 12 USC 1829b; 12 Action Date FR Cite Fax: 703 905–3735 USC 1951 to 1959; 31 USC 5311 et seq; NPRM 05/30/02 67 FR 37736 PL 107–56 RIN: 1506–AA15 NPRM Comment 07/01/02 CFR Citation: 31 CFR 103.30 Period End Legal Deadline: Final, Statutory, April Interim Final Rule 07/23/02 67 FR 48347 2432. AMENDMENT TO THE BANK Interim Final Rule 07/23/02 SECRECY ACT REGULATIONS— 26, 2002, Interim final rule published December 31, 2001. Effective EXEMPTIONS FROM THE Interim Final Rule 08/22/02 REQUIREMENT TO REPORT Abstract: This document contains an Comment Period TRANSACTIONS IN CURRENCY interim final rule amending the Bank End Secrecy Act regulations to require Final Action 12/00/04 Priority: Substantive, Nonsignificant certain persons to report currency Regulatory Flexibility Analysis Legal Authority: 12 USC 1829b; 12 received in the course of their trade or Required: No USC 1951 to 1959; 31 USC 5311 to business. 5330 Timetable: Small Entities Affected: No CFR Citation: 31 CFR 103 Action Date FR Cite Government Levels Affected: None Legal Deadline: None NPRM 12/31/01 66 FR 67685 Agency Contact: Office of the Chief Abstract: This document contains an Interim Final Rule 12/31/01 66 FR 67680 Counsel, Department of the Treasury, interim final rule that further reforms NPRM Comment 03/01/02 Financial Crimes Enforcement Network, and simplifies the process by which Period End P.O. Box 39, Vienna, VA 22183 depository institutions may exempt Final Action 12/00/04 Phone: 703 905–3590 transactions of retail and other Regulatory Flexibility Analysis Fax: 703 905–3735 businesses from the requirement to Required: No RIN: 1506–AA29 report transactions in currency in Government Levels Affected: None excess of $10,000. The interim final rule is part of a continuing program to Agency Contact: Office of the Chief 2435. CUSTOMER IDENTIFICATION reduce unnecessary burdens upon Counsel, Department of the Treasury, PROGRAMS FOR BANKS, SAVINGS financial institutions complying with Financial Crimes Enforcement Network, ASSOCIATIONS, AND CREDIT UNIONS the Bank Secrecy Act and increase the P.O. Box 39, Vienna, VA 22183 Priority: Substantive, Nonsignificant cost-effectiveness of the counter-money Phone: 703 905–3590 Legal Authority: laundering policies of the Department Fax: 703 905–3735 31 USC 5318(l) of the Treasury. RIN: 1506–AA25 CFR Citation: 31 CFR 103.121
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TREAS—FINCEN Final Rule Stage
Legal Deadline: Final, Statutory, Action Date FR Cite 2438. IMPOSITION OF SPECIAL October 25, 2002, Public Law 107–56, MEASURES AGAINST THE COUNTRY sec 352. NPRM Comment 12/16/02 OF NAURU Period End Abstract: This notice of proposed Final Action 10/00/04 Priority: Substantive, Nonsignificant rulemaking proposes to require banks, Regulatory Flexibility Analysis Legal Authority: PL 107–56, sec 311; savings associations, and credit unions Required: No 31 USC 5318A to establish written customer identification programs. Government Levels Affected: None CFR Citation: 31 CFR 103.184 Timetable: Agency Contact: Office of the Chief Legal Deadline: None Counsel, Department of the Treasury, Action Date FR Cite Abstract: This rule will impose Financial Crimes Enforcement Network, ‘‘special measures’’ against Nauru. NPRM 07/23/02 67 FR 48290 P.O. Box 39, Vienna, VA 22183 Nauru was previously designated as a NPRM Comment 09/06/02 Phone: 703 905–3590 country of primary money laundering Period End Fax: 703 905–3735 concern pursuant to section 311 of the NPRM 05/09/03 68 FR 25163 RIN: 1506–AA36 USA Patriot Act on December 20, 2002, Final Action 05/09/03 68 FR 25090 a prerequisite for the imposition of NPRM Comment 06/23/03 special measures. Period End 2437. AMENDMENT TO THE BANK Final Action 12/00/04 SECRECY ACT REGULATIONS— Timetable: Regulatory Flexibility Analysis REQUIREMENT THAT MUTUAL Action Date FR Cite Required: No FUNDS REPORT SUSPICIOUS NPRM 04/17/03 68 FR 18914 TRANSACTIONS Government Levels Affected: None NPRM Comment 05/19/03 Priority: Substantive, Nonsignificant Period End Agency Contact: Office of the Chief Final Action 12/00/04 Counsel, Department of the Treasury, Legal Authority: 12 USC 1829b; 12 Regulatory Flexibility Analysis Financial Crimes Enforcement Network, USC 1951 to 1959; 31 USC 5311 to Required: No P.O. Box 39, Vienna, VA 22183 5331; PL 107–56 Phone: 703 905–3590 CFR Citation: 31 CFR 103.15 Government Levels Affected: None Fax: 703 905–3735 Legal Deadline: None Agency Contact: Office of the Chief Counsel, Department of the Treasury, RIN: 1506–AA31 Abstract: This document contains an Financial Crimes Enforcement Network, amendment to the regulations P.O. Box 39, Vienna, VA 22183 implementing the statute generally 2436. FINANCIAL CRIMES Phone: 703 905–3590 known as the Bank Secrecy Act. The ENFORCEMENT NETWORK; Fax: 703 905–3735 AMENDMENT TO THE BANK amendment would require mutual SECRECY ACT REGULATIONS funds to report suspicious transactions RIN: 1506–AA43 REQUIREMENT THAT INSURANCE to the Department of the Treasury. The COMPANIES REPORT SUSPICIOUS amendment constitutes a further step in 2439. FINANCIAL CRIMES TRANSACTIONS the creation of a comprehensive system ENFORCEMENT; AMENDMENTS TO for the reporting of suspicious Priority: Substantive, Nonsignificant THE BANK SECRECY ACT transactions by the major categories of REGULATIONS—NOMENCLATURE Legal Authority: 12 USC 1829b; 12 financial institutions operating in the CHANGES USC 1951 to 1959; 31 USC 5311 to United States, as part of the counter- 5332 money laundering program of the Priority: Info./Admin./Other. Major Department of the Treasury. status under 5 USC 801 is CFR Citation: 31 CFR 103.16 undetermined. Timetable: Legal Deadline: None Legal Authority: 31 USC 5318 et seq Action Date FR Cite Abstract: This document will require CFR Citation: 31 CFR 103 insurance companies to report NPRM 01/21/03 68 FR 2716 Legal Deadline: None suspicious transactions to the NPRM Comment 03/24/03 Department of the Treasury. The Period End Abstract: This document amends 31 amendments constitute a further step in Final Action 10/00/04 CFR part 103 to reflect changes to the the creation of a comprehensive system Regulatory Flexibility Analysis structure of the Department of the for the reporting of suspicious Required: No Treasury. transactions by the major categories of Government Levels Affected: None Timetable: financial institutions operating in the United States as a part of the counter- Agency Contact: Office of the Chief Action Date FR Cite money laundering program of the Counsel, Department of the Treasury, Final Action 12/00/04 Department of the Treasury. Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183 Regulatory Flexibility Analysis Timetable: Phone: 703 905–3590 Required: No Action Date FR Cite Fax: 703 905–3735 Small Entities Affected: No NPRM 10/17/02 67 FR 64067 RIN: 1506–AA37 Government Levels Affected: None
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TREAS—FINCEN Final Rule Stage
Agency Contact: Office of the Chief laundering program requirements for 2443. • AMENDMENTS TO THE BANK Counsel, Department of the Treasury, mutual funds, as defined in the Bank SECRECY ACT REGULATIONS— Financial Crimes Enforcement Network, Secrecy Act. ANTI–MONEY LAUNDERING P.O. Box 39, Vienna, VA 22183 PROGRAMS FOR INVESTMENT Phone: 703 905–3590 Timetable: ADVISORS Fax: 703 905–3735 Action Date FR Cite Priority: Substantive, Nonsignificant RIN: 1506–AA61 Final Action 12/00/04 Legal Authority: 31 USC 5316(h) CFR Citation: 31 CFR 103.65; 31 CFR Regulatory Flexibility Analysis 2440. • IMPOSITION OF SPECIAL 103.66; 31 CFR 103.67 MEASURES AGAINST THE Required: No Legal Deadline: Final, Statutory, April COMMERCIAL BANK OF SYRIA AS A Government Levels Affected: None 24, 2002, PL 107–56, sec 352. FINANCIAL INSTITUTION OF PRIMARY MONEY LAUNDERING CONCERN Agency Contact: Office of the Chief Abstract: FinCEN will issue a series of regulations regarding anti-money Priority: Substantive, Nonsignificant Counsel, Department of the Treasury, Financial Crimes Enforcement Network, laundering program requirements for Legal Authority: 31 USC 5318A investment advisors, as defined in the P.O. Box 39, Vienna, VA 22183 Bank Secrecy Act. CFR Citation: 31 CFR 103.188 Phone: 703 905–3590 Legal Deadline: None Fax: 703 905–3735 Timetable: Action Date FR Cite Abstract: This document will prohibit Related RIN: Split from 1506–AA28 certain U.S. financial institutions from Final Action 12/00/04 maintaining correspondent or payable- RIN: 1506–AA68 Regulatory Flexibility Analysis through accounts in the U.S. for, or on Required: No behalf of, a foreign bank determined to be of primary money laundering 2442. • AMENDMENTS TO THE BANK Government Levels Affected: None concern. SECRECY ACT REGULATIONS— Agency Contact: Office of the Chief ANTI–MONEY LAUNDERING Timetable: Counsel, Department of the Treasury, PROGRAMS FOR INSURANCE Financial Crimes Enforcement Network, Action Date FR Cite COMPANIES P.O. Box 39, Vienna, VA 22183 NPRM 05/18/04 69 FR 28098 Phone: 703 905–3590 Priority: Substantive, Nonsignificant NPRM Comment 06/17/04 Fax: 703 905–3735 Period End Legal Authority: 31 USC 5316(h) Related RIN: Split from 1506–AA28 Final Action 12/00/04 RIN: 1506–AA71 Regulatory Flexibility Analysis CFR Citation: 31 CFR 103.65; 31 CFR Required: No 103.66; 31 CFR 103.67 2444. • AMENDMENTS TO THE BANK Small Entities Affected: No Legal Deadline: Final, Statutory, April SECRECY ACT REGULATIONS— 24, 2002, PL 107–56, sec 352. Government Levels Affected: None ANTI–MONEY LAUNDERING Agency Contact: Office of the Chief Abstract: FinCEN will issue a series of PROGRAMS FOR FINANCIAL Counsel, Department of the Treasury, regulations regarding anti-money INSTITUTIONS Financial Crimes Enforcement Network, laundering program requirements for Priority: Substantive, Nonsignificant P.O. Box 39, Vienna, VA 22183 insurance companies, as defined in the Legal Authority: 31 USC 5316(h) Phone: 703 905–3590 Bank Secrecy Act. Fax: 703 905–3735 CFR Citation: 31 CFR 103.65; 31 CFR Timetable: 103.66; 31 CFR 103.67 RIN: 1506–AA64 Action Date FR Cite Legal Deadline: Final, Statutory, April 24, 2002, PL 107–56, sec 352. 2441. • AMENDMENTS TO THE BANK Final Action 10/00/04 SECRECY ACT REGULATIONS— Abstract: FinCEN will issue a series of ANTI–MONEY LAUNDERING Regulatory Flexibility Analysis regulations regarding anti-money PROGRAMS FOR MUTUAL FUNDS Required: No laundering program requirements for financial institutions, as defined in the Priority: Substantive, Nonsignificant. Government Levels Affected: None Bank Secrecy Act. Major status under 5 USC 801 is undetermined. Agency Contact: Office of the Chief Timetable: Counsel, Department of the Treasury, Legal Authority: 31 USC 5316(h) Action Date FR Cite Financial Crimes Enforcement Network, Final Action 12/00/04 CFR Citation: 31 CFR 103.65; 31 CFR P.O. Box 39, Vienna, VA 22183 103.66; 31 CFR 103.67 Phone: 703 905–3590 Regulatory Flexibility Analysis Legal Deadline: Final, Statutory, April Fax: 703 905–3735 Required: No 24, 2002, PL 107–56, sec 352. Government Levels Affected: None Related RIN: Split from 1506–AA28 Abstract: FinCEN will issue a series of Agency Contact: Office of the Chief regulations regarding anti-money RIN: 1506–AA70 Counsel, Department of the Treasury,
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TREAS—FINCEN Final Rule Stage
Financial Crimes Enforcement Network, Timetable: Legal Deadline: Final, Statutory, April P.O. Box 39, Vienna, VA 22183 Action Date FR Cite 24, 2002, PL 107–56, sec 352. Phone: 703 905–3590 Final Action 12/00/04 Abstract: FinCEN will issue a series of Fax: 703 905–3735 regulations regarding anti-money Related RIN: Split from 1506–AA28 Regulatory Flexibility Analysis laundering program requirements for Required: No unregistered investment companies, as RIN: 1506–AA72 Government Levels Affected: None defined in the Bank Secrecy Act. Agency Contact: Office of the Chief Timetable: 2445. • AMENDMENTS TO THE BANK Counsel, Department of the Treasury, Action Date FR Cite SECRECY ACT REGULATIONS— Financial Crimes Enforcement Network, ANTI–MONEY LAUNDERING P.O. Box 39, Vienna, VA 22183 Final Action 12/00/04 PROGRAMS FOR MONEY SERVICES Phone: 703 905–3590 Regulatory Flexibility Analysis BUSINESSES Fax: 703 905–3735 Required: No Priority: Substantive, Nonsignificant Related RIN: Split from 1506–AA28 Government Levels Affected: None Legal Authority: 31 USC 5316(h) RIN: 1506–AA75 Agency Contact: Office of the Chief CFR Citation: 31 CFR 103.65; 31 CFR Counsel, Department of the Treasury, 103.66; 31 CFR 103.67 2447. • AMENDMENTS TO THE BANK Financial Crimes Enforcement Network, SECRECY ACT REGULATIONS— P.O. Box 39, Vienna, VA 22183 Legal Deadline: Final, Statutory, April Phone: 703 905–3590 24, 2002, PL 107–56, sec 352. ANTI–MONEY LAUNDERING PROGRAMS FOR OPERATORS OF A Fax: 703 905–3735 Abstract: FinCEN will issue a series of CREDIT CARD SYSTEM Related RIN: Split from 1506–AA28, regulations regarding anti-money Priority: Previously reported as 1506–AA57 laundering program requirements for Substantive, Nonsignificant money services businesses, as defined Legal Authority: 31 USC 5316(h) RIN: 1506–AA77 in the Bank Secrecy Act. CFR Citation: 31 CFR 103.65; 31 CFR Timetable: 103.66; 31 CFR 103.67 2449. • AMENDMENTS TO THE BANK SECRECY ACT REGULATIONS— Action Date FR Cite Legal Deadline: Final, Statutory, April 24, 2002, PL 107–56, sec 352. ANTI–MONEY LAUNDERING Final Action 12/00/04 PROGRAMS FOR DEALERS IN Abstract: FinCEN will issue a series of PRECIOUS METALS, STONES, OR Regulatory Flexibility Analysis regulations regarding anti-money JEWELS Required: No laundering program requirements for Priority: Substantive, Nonsignificant Government Levels Affected: None operators of a credit card system, as defined in the Bank Secrecy Act. Legal Authority: 31 USC 5316(h) Agency Contact: Office of the Chief Counsel, Department of the Treasury, Timetable: CFR Citation: 31 CFR 103.65; 31 CFR Financial Crimes Enforcement Network, Action Date FR Cite 103.66; 31 CFR 103.67 P.O. Box 39, Vienna, VA 22183 Final Action 12/00/04 Legal Deadline: Final, Statutory, April Phone: 703 905–3590 24, 2002, PL 107–56, sec 352. Fax: 703 905–3735 Regulatory Flexibility Analysis Required: No Abstract: FinCEN will issue a series of Related RIN: Split from 1506–AA28 regulations regarding anti-money Government Levels Affected: None RIN: 1506–AA74 laundering program requirements for Agency Contact: Office of the Chief dealers in precious metals, stones, or Counsel, Department of the Treasury, jewels, as defined in the Bank Secrecy 2446. • AMENDMENTS TO THE BANK Financial Crimes Enforcement Network, Act. SECRECY ACT REGULATIONS— P.O. Box 39, Vienna, VA 22183 Timetable: ANTI–MONEY LAUNDERING Phone: 703 905–3590 PROGRAMS FOR COMMODITY Fax: 703 905–3735 Action Date FR Cite TRADING ADVISORS Related RIN: Split from 1506–AA28 Final Action 10/00/04 Priority: Substantive, Nonsignificant RIN: 1506–AA76 Regulatory Flexibility Analysis Legal Authority: 31 USC 5316(h) Required: No CFR Citation: 31 CFR 103.65; 31 CFR 2448. • AMENDMENTS TO THE BANK Government Levels Affected: None 103.66; 31 CFR 103.67 SECRECY ACT REGULATIONS— Agency Contact: Office of the Chief ANTI–MONEY LAUNDERING Counsel, Department of the Treasury, Legal Deadline: Final, Statutory, April PROGRAMS FOR UNREGISTERED 24, 2002, PL 107–56, sec 352. Financial Crimes Enforcement Network, INVESTMENT COMPANIES P.O. Box 39, Vienna, VA 22183 Abstract: FinCEN will issue a series of Priority: Substantive, Nonsignificant Phone: 703 905–3590 regulations regarding anti-money Fax: 703 905–3735 laundering program requirements for Legal Authority: 31 USC 5316(h) commodity trading advisors, as defined CFR Citation: 31 CFR 103.65; 31 CFR Related RIN: Split from 1506–AA28 in the Bank Secrecy Act. 103.66; 31 CFR 103.67 RIN: 1506–AA78
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Department of the Treasury (TREAS) Long-Term Actions Financial Crimes Enforcement Network (FINCEN)
2450. AMENDMENTS TO THE BANK Timetable: Government Levels Affected: None SECRECY ACT REGULATIONS— Action Date FR Cite SPECIAL REPORTING AND Agency Contact: Office of the Chief RECORDKEEPING REQUIREMENTS— NPRM 05/21/97 62 FR 27909 Counsel MONEY SERVICES BUSINESSES NPRM Comment 09/30/97 Phone: 703 905–3590 (MSBS) Period End Fax: 703 905–3735 Final Action To Be Determined Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis RIN: 1506–AA19 CFR Citation: 31 CFR 103 Required: Undetermined
Department of the Treasury (TREAS) Completed Actions Financial Crimes Enforcement Network (FINCEN)
2451. AMENDMENTS TO THE BANK Anti–Money Laundering Programs for Financial Crimes Enforcement Network, SECRECY ACT REGULATIONS— Insurance Companies (1506–AA50) P.O. Box 39, Vienna, VA 22183 REQUIREMENT THAT FINANCIAL NPRM 09/26/02 (67 FR 60625) Phone: 703 905–3590 INSTITUTIONS ESTABLISH NPRM Comment Period End 11/25/02 Merged With 1506-AA70 05/28/04 Fax: 703 905–3735 ANTI–MONEY LAUNDERING Anti–Money Laundering Programs for RIN: 1506–AA28 PROGRAMS Investment Advisors (1506–AA51) NPRM 05/05/03 (68 FR 23646) Priority: Substantive, Nonsignificant NPRM Comment Period End 07/07/03 2452. FINANCIAL CRIMES Merged With 1506-AA71 05/28/04 Legal Authority: 31 USC 5316(h) ENFORCEMENT NETWORK; Anti–Money Laundering Programs for Loan DELEGATION OF ENFORCEMENT and Finance Companies (1506–AA53) CFR Citation: 31 CFR 103.65; 31 CFR Merged With 1506-AA73 05/28/04 AUTHORITY REGARDING THE 103.66; 31 CFR 103.67 Anti–Money Laundering Programs for FOREIGN BANK ACCOUNT REPORT Money Services Businesses (1506–AA54) REQUIREMENTS Legal Deadline: Final, Statutory, April Interim Final Rule 04/29/02 (67 FR 21114) 24, 2002, PL 107–56, sec 352. Interim Final Rule Comment Period End Priority: Substantive, Nonsignificant 05/29/02 CFR Citation: 31 CFR 103.56 Abstract: FinCEN will issue a series of Merged With 1506-AA74 05/28/04 regulations regarding anti-money Anti–Money Laundering Programs for Completed: laundering program requirements for Mutual Funds (1506–AA48) various financial institutions, as Interim Final Rule 04/29/02 (67 FR 21117) Reason Date FR Cite defined in the Bank Secrecy Act. Interim Final Rule Comment Period End Final Action 05/16/03 68 FR 26489 05/29/02 Timetable: Merged With 1506-AA68 05/28/04 Regulatory Flexibility Analysis Anti–Money Laundering Programs for Required: No Action Date FR Cite Operators of a Credit Card System Actions Will Continue 05/28/04 (1506–AA56) Government Levels Affected: None Interim Final Rule 04/29/02 (67 FR 21121) Under Separate Agency Contact: Rulemakings Interim Final Rule Comment Period End Office of the Chief Anti–Money Laundering Programs for 05/29/02 Counsel Businesses Engaged in Vehicle Sales, Merged With 1506-AA76 05/28/04 Phone: 703 905–3590 Including Automobile, Airplane, and Boat Anti–Money Laundering Programs for Fax: 703 905–3735 Sales (1506–AA60) Persons Involved in Real Estate Closings ANPRM 02/24/03 (68 FR 8568) and Settlements (1506–AA59) RIN: 1506–AA45 ANPRM Comment Period End 04/10/03 ANPRM 04/10/03 (68 FR 17569) Merged With 1506-AA80 05/28/04 ANPRM Comment Period End 06/09/03 Merged With 1506-AA79 05/28/04 2453. • IMPOSITION OF SPECIAL Anti–Money Laundering Programs for MEASURES AGAINST MYANMAR Commodity Trading Advisors Anti–Money Laundering Programs for (1506–AA55) Travel Agencies (1506–AA49) MAYFLOWER BANK AND ASIA ANPRM 02/24/03 (68 FR 8571) NPRM 05/05/03 (68 FR 23640) WEALTH BANK ANPRM Comment Period End 04/10/03 NPRM Comment Period End 07/07/03 Merged With 1506-AA69 05/28/04 Priority: Substantive, Nonsignificant Merged With 1506-AA75 05/28/04 Anti–Money Laundering Programs for Anti–Money Laundering Programs for Unregistered Investment Companies Legal Authority: 31 USC 5318A Dealers in Precious Metals, Stones or (1506–AA57) Jewels (1506–AA58) CFR Citation: NPRM 09/26/02 (67 FR 60617) 31 CFR 103.187 NPRM 02/21/03 (68 FR 8480) NPRM Comment Period End 11/25/02 Legal Deadline: None NPRM Comment Period End 04/22/03 Merged With 1506-AA77 05/28/04 Merged With 1506-AA78 05/28/04 Abstract: This document will prohibit Anti–Money Laundering Programs for Regulatory Flexibility Analysis Financial Institutions (1506–AA52) Required: No certain U.S. financial institutions from maintaining correspondent or payable- Interim Final Rule 04/29/02 (67 FR 21110) Government Levels Affected: None Interim Final Rule Comment Period End through accounts in the U.S. for, or on 05/29/02 Agency Contact: Office of the Chief behalf of, Myanmar Mayflower Bank Merged With 1506-AA72 05/28/04 Counsel, Department of the Treasury, and Asia Wealth Bank.
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TREAS—FINCEN Completed Actions
Timetable: Regulatory Flexibility Analysis Financial Crimes Enforcement Network, Required: No P.O. Box 39, Vienna, VA 22183 Action Date FR Cite Small Entities Affected: No Phone: 703 905–3590 NPRM 11/18/03 68 FR 66305 Fax: 703 905–3735 NPRM Comment 12/26/03 Government Levels Affected: None Period End Agency Contact: Office of the Chief RIN: 1506–AA63 Final Action 04/12/04 69 FR 19098 Counsel, Department of the Treasury, BILLING CODE 4810—35—S
Department of the Treasury (TREAS) Proposed Rule Stage Financial Management Service (FMS)
2454. CLAIMS ON ACCOUNT OF 8D25, 3700 East–West Highway, Government Levels Affected: Federal TREASURY CHECKS Hyattsville, MD 20782 Agency Contact: Stephen Kenneally, Priority: Substantive, Nonsignificant Phone: 202 874–8445 Financial Program Specialist, Cash Email: [email protected] Legal Authority: 31 USC 321; 31 USC Management Policy and Planning 3328; 31 USC 3331; 31 USC 3343; 31 RIN: 1510–AA51 Division, Department of the Treasury, USC 3702; 31 USC 3712 Financial Management Service, Room 408D, 401 14th Street SW., Washington, 2455. MANAGEMENT OF FEDERAL CFR Citation: 31 CFR 245 DC 20227 AGENCY RECEIPTS AND Legal Deadline: None Phone: 202 874–6799 DISBURSEMENTS; OPERATION OF Email: [email protected] Abstract: Title 31 CFR part 245 governs THE CASH MANAGEMENT the issuance of replacement checks for IMPROVEMENT FUND RIN: 1510–AA86 checks drawn on the United States Treasury when: 1) the original check Priority: Substantive, Nonsignificant. has been lost, stolen, destroyed or Major status under 5 USC 801 is 2456. WITHHOLDING OF DISTRICT OF mutilated or defaced to such an extent undetermined. COLUMBIA, STATE, CITY, AND that it is rendered non-negotiable; 2) Unfunded Mandates: Undetermined COUNTY INCOME, OR EMPLOYMENT TAXES BY FEDERAL AGENCIES the original check has been negotiated Legal Authority: 5 USC 301; 31 USC and paid on a forged or unauthorized 321; 31 USC 3301; 31 USC 3302; 31 Priority: Substantive, Nonsignificant indorsement; and 3) the original check USC 3321; 31 USC 3327; 31 USC 3332; Legal Authority: 5 USC 5516; 5 USC has been cancelled pursuant to 31 CFR 31 USC 3335; 31 USC 3720; 31 USC 5517; 5 USC 5520; EO 1197, sec 4 part 240. This regulation is being 6503 revised to update the regulation’s CFR Citation: 31 CFR 215 definitions to make them consistent CFR Citation: 31 CFR 206 Legal Deadline: None with the language of the revisions to Legal Deadline: None Abstract: This regulation governs the the definitions in 31 CFR part 240. Abstract: This regulation governs agreements entered into by the Other revisions will govern the use of collection and deposit regulations Department of the Treasury and State the Check Forgery Insurance Fund requiring timely methods, principally and local governments for the (Fund). The Fund is a revolving fund Electronic Funds Transfer (EFT), for the withholding of State and local income established to settle payee claims of collection and deposit of funds as taxes from the compensation of Federal nonreceipt where the original check has authorized by section 2652 of the employees. been fraudulently negotiated. The Fund Deficit Reduction Act of 1984. This Timetable: ensures that innocent payees, whose regulation also incorporates revisions Treasury checks have been fraudulently authorized by the Cash Management Action Date FR Cite cashed, receive replacement checks in Act of 1990 and the Cash Management NPRM 09/00/04 a timely manner. The NPRM is on hold Improvement Act Amendments of 1992. Regulatory Flexibility Analysis pending implementation of the These revisions require executive Required: No Expanded Check Forgery Insurance agencies to use effective, efficient Fund Legislation (CFIF) and the disbursement mechanisms, principally Small Entities Affected: No Treasury Check Information System EFT, in the delivery of payments. An Government Levels Affected: Federal, (TCIS). agency’s failure to comply with this State, Local Timetable: regulation may result in a charge equal Agency Contact: Stephen Kenneally, to the cost of such noncompliance to Action Date FR Cite Financial Program Specialist, Cash the Treasury’s General Fund. NPRM 01/00/05 Management Policy and Planning Timetable: Division, Department of the Treasury, Regulatory Flexibility Analysis Action Date FR Cite Financial Management Service, Room Required: No 408D, 401 14th Street SW., Washington, Government Levels Affected: Federal NPRM 09/00/04 DC 20227 Agency Contact: Ella White, Program Regulatory Flexibility Analysis Phone: 202 874–6799 Analyst, Department of the Treasury, Required: No Email: [email protected] Financial Management Service, Room Small Entities Affected: No RIN: 1510–AA90
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Department of the Treasury (TREAS) Final Rule Stage Financial Management Service (FMS)
2457. FOREIGN EXCHANGE Legal Deadline: None Timetable: OPERATIONS Abstract: This regulation governs the Action Date FR Cite procedures for securing payment for Priority: Substantive, Nonsignificant Interim Final Rule 12/26/02 67 FR 78936 money judgments against the United Legal Authority: 22 USC 2363; 31 USC Final Rule 04/00/05 3513; EO 10488; EO 10900 States. The proposed revision will update these procedures. This revision Regulatory Flexibility Analysis CFR Citation: 31 CFR 281 will benefit claimants and others in Required: No Legal Deadline: None understanding the judgment payment Government Levels Affected: Federal process. This regulation currently Abstract: This regulation governs the describes a process that involves the Agency Contact: Gerry Isenberg, administration of the purchase, General Accounting Office (GAO) and Financial Program Specialist, Debt custody, deposit, transfer, sale, and the Treasury Department. The revision Management Service, Department of the reporting of foreign exchange will remove the GAO from this Treasury, Financial Management (including credits and currencies) by description to reflect legislative Service, Room 44AB, 401 14th Street executive departments and agencies. amendments that effect this change. SW., Washington, DC 20227 Currently, this regulation allows the Also, the regulation currently identifies Phone: 202 874–7131 purchase of foreign currency to an monetary thresholds that no longer Fax: 202 874–7494 amount which, together with the exist. The change will reflect the Email: [email protected] balance on hand in the bank, may not removal of these monetary limitations. RIN: 1510–AA65 exceed estimated requirements for a 30- These revisions will make the day period. The revised rule allows the regulation consistent with current purchase of foreign currency to a procedures for securing payment of 2460. SALARY OFFSET balance ‘‘commensurate with money judgments against the United Priority: Substantive, Nonsignificant immediate disbursing requirements.‘‘ States. Legal Authority: 5 USC 5514 Timetable: Timetable: CFR Citation: 31 CFR 285.7 Action Date FR Cite Action Date FR Cite Legal Deadline: None NPRM 01/29/96 61 FR 2750 NPRM 01/08/96 61 FR 552 NPRM Comment 02/28/96 NPRM Comment 02/07/96 Abstract: This rule governs the Period End Period End centralized computer matching of Final Action 09/00/04 Final Action 07/00/04 Federal employee records for purposes of salary offset to collect nontax Regulatory Flexibility Analysis Regulatory Flexibility Analysis delinquent debt owed the Federal Required: No Required: No Government. Government Levels Affected: Federal Small Entities Affected: No Timetable: Agency Contact: Stephen Kenneally, Government Levels Affected: Federal Financial Program Specialist, Cash Action Date FR Cite Agency Contact: Vivian Cooper, Management Policy and Planning Director, Financial Accounting and Interim Final Rule 04/28/98 63 FR 23353 Division, Department of the Treasury, Services Division, Department of the Final Action 04/00/05 Financial Management Service, Room Treasury, Financial Management Regulatory Flexibility Analysis 408D, 401 14th Street SW., Washington, Service, Room 620D, 3700 East–West Required: DC 20227 No Highway, Hyattsville, MD 20782 Phone: 202 874–6799 Government Levels Affected: Federal Phone: 202 874–8380 Email: [email protected] Email: [email protected] Agency Contact: Gerry Isenberg, Financial Program Specialist, Debt Walt Henderson, Senior Financial RIN: 1510–AA52 Management Service, Department of the Program Specialist, Cash Management Treasury, Financial Management Policy and Planning Directorate, 2459. OFFSET OF FEDERAL Service, Room 44AB, 401 14th Street Department of the Treasury, Financial PAYMENTS (OTHER THAN TAX SW., Washington, DC 20227 Management Service, 401 14th Street REFUND AND FEDERAL BENEFIT Phone: 202 874–7131 SW., Washington, DC 20227 PAYMENTS) TO COLLECT PAST–DUE, Fax: 202 874–7494 Phone: 202 874–6705 LEGALLY ENFORCEABLE NONTAX Email: [email protected] Email: [email protected] DEBT RIN: 1510–AA70 RIN: 1510–AA48 Priority: Substantive, Nonsignificant Legal Authority: 31 USC 321; 31 USC 2461. OFFSET OF TAX REFUND 2458. PAYMENTS UNDER JUDGMENT 3716 PAYMENT TO COLLECT STATE AND PRIVATE RELIEF ACTS CFR Citation: 31 CFR 285.5 INCOME TAX OBLIGATIONS Priority: Substantive, Nonsignificant Legal Deadline: None Priority: Substantive, Nonsignificant Legal Authority: PL 104–53; PL Abstract: This rule governs the Legal Authority: 26 USC 6402(e) 104–316; 28 USC 2414; 28 USC 2517; administrative offset of Federal CFR Citation: 31 USC 1304 payments by disbursing officials of the 31 CFR 285.8 CFR Citation: 31 CFR 256 United States. Legal Deadline: None
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TREAS—FMS Final Rule Stage
Abstract: This rule governs the offset Fax: 202 874–7494 2464. • INDORSEMENT AND of Federal tax refund payments to Email: [email protected] PAYMENT OF CHECKS DRAWN ON collect delinquent State income taxes. RIN: 1510–AA91 THE U.S. TREASURY Timetable: Priority: Substantive, Nonsignificant. Action Date FR Cite 2463. FEDERAL GOVERNMENT Major status under 5 USC 801 is NPRM 12/20/99 64 FR 71233 PARTICIPATION IN THE AUTOMATED undetermined. CLEARING HOUSE (ACH) Interim Final Rule 12/20/99 64 FR 71227 Legal Authority: 5 USC 301; 12 USC Final Action 04/00/05 Priority: Other Significant. Major status 391; 31 USC 321; 31 USC 3327; 31 USC Regulatory Flexibility Analysis under 5 USC 801 is undetermined. 3328; 31 USC 3331; 31 USC 3334; 31 Required: No Legal Authority: 5 USC 5525; 12 USC USC 3343; 31 USC 3702; 31 USC 3702 Government Levels Affected: State, 391; 31 USC 321; 31 USC 3301; 31 USC note; 31 USC 3711; 31 USC 3712; 31 Federal 3302; 31 USC 3321; 31 USC 3332; 31 USC 3716; 31 USC 3717 USC 3335; 31 USC 3720 Federalism: Undetermined CFR Citation: 31 CFR 240 CFR Citation: 31 CFR 210 Agency Contact: Gerry Isenberg, Legal Deadline: None Financial Program Specialist, Debt Legal Deadline: None Management Service, Department of Abstract: The Department of the Abstract: The Interim Rule will amend The Treasury, Department of the Treasury, Financial Management 31 CFR part 240 in order to permit Treasury, Financial Management Service (FMS), is amending its rule financial institutions to present Service, 401 14th Street SW., governing the use of the Automated Treasury checks for payment by Washington, DC 20227 Clearing House (ACH) system by providing an electronic image of the Phone: 202 874–6804 Federal agencies. This proposed rule check in lieu of the original item. The Email: [email protected] would amend 31 CFR part 210 to rule will establish the terms and RIN: 1510–AA78 provide that, as of an effective date to conditions that will apply to the be specified, any check received by a electronic image presentment of Federal agency may be converted to an Treasury checks. In addition, the rule 2462. FEDERAL CLAIMS COLLECTION ACH debit entry. The proposed rule will address certain issues related to STANDARD—COLLECTION BY would request comment on a plan the presentment of substitute Treasury INSTALLMENTS whereby FMS would provide notice of checks pursuant to the Check Clearing Priority: Substantive, Nonsignificant check conversion to the general public for the 21st Century Act, including the through agency and financial procedures that Treasury will follow Legal Authority: 31 USC 3711; 31 USC institution web sites, the Federal upon a breach of the Act’s substitute 3717 Register, on agency forms, and in radio, check warranties and the procedures CFR Citation: 31 CFR 901.9 television, and media announcements. that will apply if the Government Legal Deadline: None Timetable: incurs a loss due to the receipt of a substitute Treasury check rather than Abstract: Section 901.9, paragraph(f) is Action Date FR Cite the original check. being modified to state that when an NPRM 08/21/03 68 FR 50671 administrative charge is being paid out NPRM Comment 10/20/03 Timetable: of amounts collected from the debtor, Period End Action Date FR Cite a partial or installment payment on a Final Action 09/00/04 debt should be applied to that charge Interim Final Rule 09/00/04 first, then to penalties, other Regulatory Flexibility Analysis administrative charges, interest, and Required: No Regulatory Flexibility Analysis principal. Small Entities Affected: No Required: No Timetable: Government Levels Affected: None Small Entities Affected: No Action Date FR Cite URL For More Information: www.fms.treas.gov/ach Government Levels Affected: Federal Interim Final Rule 02/00/05 URL For Public Comments: Agency Contact: Regulatory Flexibility Analysis Ronald Lee Brooks, (do not use http://) Senior Program and Policy Analyst, Required: No [email protected] Department of the Treasury, Financial Small Entities Affected: No Agency Contact: Donald Skiles, Senior Management Service, Financial Government Levels Affected: State, Financial Program Specialist, Processing Division, 3700 East West Local, Tribal, Federal Department of the Treasury, Financial Highway, Room 7D26, Hyattsville, MD 20782–2294 Agency Contact: Gerry Isenberg, Management Service, Federal Finance, Phone: 202 874–7573 Financial Program Specialist, Debt Asset Management Directorate, Risk Fax: 202 874–2294 Management Service, Department of the Management Division, 401 14th Street Treasury, Financial Management SW., Washington, DC 20227 Email: [email protected] Phone: 202 874–6994 Service, Room 44AB, 401 14th Street Related RIN: Related to 1510–AA51 SW., Washington, DC 20227 Email: [email protected] Phone: 202 874–7131 RIN: 1510–AA98 RIN: 1510–AA99
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Department of the Treasury (TREAS) Long-Term Actions Financial Management Service (FMS)
2465. OFFSET OF FEDERAL Fax: 202 874–7494 Timetable: PAYMENTS (OTHER THAN TAX Email: [email protected] Action Date FR Cite REFUND AND FEDERAL BENEFIT PAYMENTS) TO COLLECT PAST–DUE RIN: 1510–AA72 Next Action Undetermined DEBTS OWED TO STATES (OTHER Regulatory Flexibility Analysis THAN CHILD SUPPORT) 2467. SURETY BOND Required: No REIMBURSEMENT FUND Priority: Substantive, Nonsignificant Small Entities Affected: No CFR Citation: 31 CFR 285.6 Priority: Substantive, Nonsignificant. Government Levels Affected: None Timetable: Next Action Undetermined Major status under 5 USC 801 is undetermined. Agency Contact: Catherine McHugh Regulatory Flexibility Analysis Phone: 202 874–7497 Required: No CFR Citation: 31 CFR 223 Email: [email protected] Government Levels Affected: State Timetable: RIN: 1510–AA96 Federalism: Undetermined Action Date FR Cite Agency Contact: Gerry Isenberg Next Action Undetermined 2469. FEDERAL GOVERNMENT Phone: 202 874–7131 PARTICIPATION IN THE AUTOMATED Fax: 202 874–7494 Regulatory Flexibility Analysis CLEARING HOUSE (ACH) Required: Undetermined Email: [email protected] Priority: Substantive, Nonsignificant. RIN: 1510–AA66 Government Levels Affected: None Major status under 5 USC 801 is undetermined. Federalism: Undetermined 2466. PUBLIC DISSEMINATION OF CFR Citation: 31 CFR 210 Agency Contact: Vivian Cooper IDENTITY OF DELINQUENT DEBTORS Timetable: Phone: 202 874–8380 Priority: Substantive, Nonsignificant Email: [email protected] Action Date FR Cite CFR Citation: 31 CFR 285.14 RIN: 1510–AA85 Next Action Undetermined Timetable: Regulatory Flexibility Analysis Action Date FR Cite 2468. PAYMENT OF FEDERAL TAXES Required: No Next Action Undetermined AND THE TREASURY TAX AND LOAN Small Entities Affected: No Regulatory Flexibility Analysis PROGRAM Government Levels Affected: None Required: No Priority: Substantive, Nonsignificant. Agency Contact: Catherine McHugh Government Levels Affected: Federal Major status under 5 USC 801 is Phone: 202 874–7497 undetermined. Agency Contact: Gerry Isenberg Email: [email protected] Phone: 202 874–7131 CFR Citation: 31 CFR 203 RIN: 1510–AA97
Department of the Treasury (TREAS) Completed Actions Financial Management Service (FMS)
2470. INDORSEMENT AND PAYMENT 2471. PAYMENT OF FEDERAL TAXES Government’s excess operating funds, OF CHECKS DRAWN ON THE U.S. AND THE TREASURY TAX AND LOAN and incorporate other needed updates. TREASURY PROGRAM The second rule amended the Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant regulation to provide the Secretary greater flexibility to adjust the rate of CFR Citation: 31 CFR 240 Legal Authority: 12 USC 90; 12 USC interest charged on funds loaned 265; 12 USC 266; 12 USC 321; 12 USC Completed: through the Treasury Tax and Loan 323; 12 USC 332; 12 USC 391; 12 USC (TT&L) program. It also allows for a Reason Date FR Cite 1452(d); 12 USC 1464(k); 12 USC 1767; new TT&L investment option for 12 USC 1789(a); 12 USC 2013; 12 USC financial institutions. Final Action 04/01/04 69 FR 17271 2122; 12 USC 3102; 12 USC 6302; 31 Regulatory Flexibility Analysis USC 3301 to 3304 Timetable: Required: No CFR Citation: 31 CFR 203 Action Date FR Cite Small Entities Affected: No Legal Deadline: None Actions Will Continue 06/11/04 Government Levels Affected: Federal Abstract: This first rule includes Under Separate general revisions that will provide Rulemakings Agency Contact: Ronald E. Brooks needed updates to support operational General Revisions (1510–AA92) Phone: 202 874–7573 changes to the system used for the Merged With 1510-AA79 05/28/04 Email: [email protected] collection of corporate withholding RIN: 1510–AA45 taxes and the investment of the
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TREAS—FMS Completed Actions
Treasury Tax and Loan Rate of Interest Government Levels Affected: None 401 14th Street SW., Washington, DC (1510–AA93) Agency Contact: Catherine McHugh, 20227 NPRM 07/30/99 (64 FR 41747) Phone: 202 874–7497 NPRM Comment Period End 09/28/99 Senior Financial Program Specialist, Final Action 03/15/02 (67 FR 11573) Department of the Treasury, Financial Email: [email protected] Management Service, Room 415B, Regulatory Flexibility Analysis Federal Finance, Asset Management RIN: 1510–AA79 Required: No Directorate, Risk Management Division, BILLING CODE 4810—25—S
Department of the Treasury (TREAS) Proposed Rule Stage Alcohol and Tobacco Tax and Trade Bureau (TTB)
2472. REVISION OF BREWERY 2473. DETERMINATION OF TAX AND 2474. PROPOSED REVISIONS TO THE REGULATIONS AND ISSUANCE OF RECORDKEEPING ON LARGE DISTILLED SPIRITS PLANT REGULATIONS FOR TAVERNS ON CIGARS REGULATIONS BREWERY PREMISES (BREWPUBS) Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant Legal Authority: 27 USC 5701; 27 USC Legal Authority: 26 USC 7805 Legal Authority: 26 USC 5051 to 5057; 5702 26 USC 5401 to 5418; 27 USC 205 CFR Citation: 27 CFR 19 CFR Citation: 27 CFR 40; 27 CFR 275 CFR Citation: 27 CFR 7; 27 CFR 25 Legal Deadline: None Legal Deadline: None Legal Deadline: None Abstract: This notice incorporates most Abstract: TTB is proposing to amend Abstract: TTB intends to streamline of the parts of Industry Circular 91-3, the distilled spirits plant regulations in regulations applying to breweries. TTB dated March 19, 1991, entitled ‘‘Large 27 CFR part 19. Many of these will eliminate obsolete regulatory Cigar Taxes On and After January, proposed revisions are the result of a provisions. A formula system for 1991’’ that have not been placed in the petition submitted by the Distilled manufactured beer products will regulations. Industry Circular 91-3 Spirits Council of the United States replace statements of process attached addressed questions about determining (DISCUS). Other proposed revisions are to the brewers notice. The annual the amount of tax for large cigars based a result of TTB’s own comprehensive notice for small brewers to pay the on their sale price. In addition, this review of the regulations in 27 CFR reduced rate of tax will be eliminated. notice proposes: 1) to give guidance on part 19. TTB believes that the Separate regulations for brewpubs will tax adjustments for large cigars amendments proposed in this notice be added to part 25. A section will be provided at no cost in connection with will benefit the distilled spirits added to part 25 to authorize and a sale, and 2) recordkeeping industry by modernizing many of the regulate the alternating use of brewery requirements for persons in Puerto requirements for operating distilled premises by different brewers. Rico, who bring large cigars upon spirits plants and thereby allow Regulations authorizing the operation prepayment or deferred payment of tax proprietors to operate in a more of brew-on-premises facilities will be into the United States from Puerto Rico. efficient manner. added to part 25. Timetable: Timetable: Timetable: Action Date FR Cite Action Date FR Cite Action Date FR Cite NPRM 12/00/04 NPRM 12/00/04 NPRM 12/00/04 Regulatory Flexibility Analysis Regulatory Flexibility Analysis Regulatory Flexibility Analysis Required: No Required: No Required: No Small Entities Affected: No Small Entities Affected: No Small Entities Affected: Businesses Government Levels Affected: None Government Levels Affected: None Government Levels Affected: None Additional Information: Transferred Additional Information: Transferred from RIN 1512-AC22 Additional Information: Transferred from RIN 1512-AB37 from RIN 1512-AC52 Agency Contact: Linda Agency Contact: Joanne Brady, TTB Wade–Chapman, TTB Specialist, Agency Contact: Daniel J. Hiland, Specialist, Department of the Treasury, Department of the Treasury, Alcohol Program Manager, Department of the Alcohol and Tobacco Tax and Trade and Tobacco Tax and Trade Bureau, Treasury, Alcohol and Tobacco Tax and Bureau, P.O. Box 45797, Philadelphia, Room 200E, 1310 G Street NW., Trade Bureau, 1310 G Street NW., PA 19149 Washington, DC 20220 Room 200E, Washington, DC 20220 Phone: 215 333–7050 Phone: 202 927–8181 Phone: 202 927–8210 Fax: 215 333–8871 Fax: 202 927–8525 Fax: 202 927–8525 Email: [email protected] Email: [email protected] Email: [email protected] RIN: 1513–AA02 RIN: 1513–AA16 RIN: 1513–AA23
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TREAS—TTB Proposed Rule Stage
2475. PETITION TO ESTABLISH THE and tubes and an export warehouse Regulatory Flexibility Analysis ‘‘SANTA BARBARA HIGHLANDS’’ proprietor to send such articles to a Required: No VITICULTURAL AREA class 9 customs bonded warehouse. In Small Entities Affected: No Priority: Substantive, Nonsignificant addition, the temporary rule prescribes regulations that allow a proprietor of Government Levels Affected: None Legal Authority: 27 USC 205 a customs bonded manufacturing Additional Information: Transferred CFR Citation: 27 CFR 9 warehouse to send such cigars to a from RIN 1512-AC57 class 9 customs bonded warehouse. Legal Deadline: None This notice of proposed rulemaking Agency Contact: Linda Abstract: TTB has received a petition invites comments on the temporary Wade–Chapman, TTB Specialist, proposing the establishment of the rule. Department of the Treasury, Alcohol and Tobacco Tax and Trade Bureau, ‘‘Santa Barbara Highlands’’ as an Timetable: American viticultural area. The Room 200E, 1310 G Street NW., proposed Santa Barbara Highlands area Action Date FR Cite Washington, DC 20220 Phone: 202 927–8181 is located in Santa Barbara and Ventura NPRM 12/00/04 Fax: 202 927–8525 Counties in California. The petition was Interim Final Rule 12/00/04 submitted by Nebil Zarif, President, Email: [email protected] Regulatory Flexibility Analysis Barnwood Vineyards. RIN: Required: No 1513–AA27 Timetable: Small Entities Affected: No Action Date FR Cite 2478. TAX–PAID DISTILLED SPIRITS Government Levels Affected: None USED IN MANUFACTURING NPRM 07/00/04 Additional Information: Transferred PRODUCTS UNFIT FOR BEVERAGE Regulatory Flexibility Analysis from RIN 1512-AC56 USE Required: No Agency Contact: Linda Priority: Substantive, Nonsignificant Small Entities Affected: No Wade–Chapman, TTB Specialist, Legal Authority: 26 USC 5010; 26 USC Government Levels Affected: None Department of the Treasury, Alcohol 5131 to 5134; 26 USC 5143; 26 USC and Tobacco Tax and Trade Bureau, 5206; 26 USC 5273; . . . Additional Information: Transferred Room 200E, 1310 G Street NW., from RIN 1512-AC53 Washington, DC 20220 CFR Citation: 27 CFR 17 Agency Contact: Timothy P. Phone: 202 927–8181 Legal Deadline: None DeVanney, TTB Specialist, Department Fax: 202 927–8525 of the Treasury, Alcohol and Tobacco Email: [email protected] Abstract: TTB proposes to amend the regulations on tax-paid distilled spirits Tax and Trade Bureau, Room 200E, RIN: 1513–AA26 1310 G Street NW., Washington, DC used to manufacture nonbeverage 20220 products to allow manufactures to use Phone: 202 927–8210 2477. SHIPMENTS OF TOBACCO natural and artificial one percent Fax: 202 927–8525 PRODUCTS OR CIGARETTE PAPERS solutions without having to file Form Email: [email protected] OR TUBES WITHOUT PAYMENT OF 5154.1, Formula and Process for TAX Nonbeverage Product. This proposal is RIN: 1513–AA24 part of an ongoing effort to streamline Priority: Substantive, Nonsignificant the TTB Alcohol and Tobacco 2476. REGULATORY CHANGES FROM Legal Authority: 26 USC 7805 Laboratory’s flavor formula approval CUSTOMS SERVICE FINAL RULE CFR Citation: 27 CFR 40; 27 CFR 275 process. Priority: Substantive, Nonsignificant Legal Deadline: None Timetable: Legal Authority: 26 USC 7805 Abstract: The proposed rule clarifies Action Date FR Cite CFR Citation: 27 CFR 44 regulations and establishes procedures NPRM 12/00/04 governing tobacco products or cigarette Regulatory Flexibility Analysis Legal Deadline: None papers or tubes brought in bond from Required: No Abstract: The temporary rule Puerto Rico to the United States. In prescribes TTB regulations relating to addition, the proposed rule would Small Entities Affected: No a final rule (T.D. 92-181, 57 FR 37692), allow a manufacturer of tobacco Government Levels Affected: None published by the former U.S. Customs products to receive in bond, cigarette Additional Information: Service (USCS). The USCS published papers and tubes for placement in Transferred this final rule to create a separate class packages of roll-your-own tobacco, and from RIN 1512-AC73 of customs bonded warehouse duty-free would eliminate filing bond extensions Agency Contact: Linda store (class 9). A class 9 customs for tobacco products and cigarette Wade–Chapman, TTB Specialist, bonded warehouse may receive tobacco papers or tubes from the U.S. Virgin Department of the Treasury, Alcohol products or cigarette papers or tubes Islands. and Tobacco Tax and Trade Bureau, without payment of Federal excise tax. Timetable: Room 200E, 1310 G Street NW., The temporary rule prescribes the Washington, DC 20220 regulations that allow a manufacturer Action Date FR Cite Phone: 202 927–8181 of tobacco products or cigarette papers NPRM 12/00/04 Fax: 202 927–8525
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TREAS—TTB Proposed Rule Stage
Email: [email protected] consumer. Also, this notice broadens Agency Contact: Linda RIN: 1513–AA37 the language for extending bonds so Wade–Chapman, TTB Specialist, that manufacturers may receive tobacco Department of the Treasury, Alcohol products, cigarette papers and tubes, and Tobacco Tax and Trade Bureau, 2479. PROPOSED ADDITION OF NEW without payment of tax, from Puerto Room 200E, 1310 G Street NW., GRAPE VARIETY NAMES FOR Rico. This notice may affect the Washington, DC 20220 AMERICAN WINES operations conducted by manufacturers Phone: 202 927–8181 Priority: Substantive, Nonsignificant of tobacco products or cigarette papers Fax: 202 927–8525 and tubes and importers of tobacco Email: [email protected] Legal Authority: 27 USC 205 products. RIN: 1513–AA51 CFR Citation: 27 CFR 4 Timetable: Legal Deadline: None Action Date FR Cite 2482. IN–TRANSIT STOPS OF Abstract: TTB has received petitions NPRM 12/00/04 TOBACCO PRODUCTS, AND proposing to add several names to the CIGARETTE PAPERS AND TUBES Regulatory Flexibility Analysis list of grape variety names used to WITHOUT PAYMENT OF TAX Required: No designate American wines. Small Entities Affected: No Priority: Substantive, Nonsignificant Timetable: Government Levels Affected: None Legal Authority: 26 USC 5704 Action Date FR Cite Additional Information: Transferred CFR Citation: 27 CFR 40; 27 CFR 44 NPRM 08/00/04 from RIN 1512-AC90 Legal Deadline: None Regulatory Flexibility Analysis Agency Contact: Linda Required: No Abstract: This notice is the result of Wade–Chapman, TTB Specialist, a petition from the Cigar Association Small Entities Affected: No Department of the Treasury, Alcohol of America and the Pipe Tobacco and Tobacco Tax and Trade Bureau, Government Levels Affected: None Council. The petition requests that TTB Room 200E, 1310 G Street NW., change its position regarding in-transit Additional Information: Transferred Washington, DC 20220 stops of tobacco products and cigarette from RIN 1512-AC79 Phone: 202 927–8181 papers and tubes after removal without Agency Contact: Jennifer Berry, TTB Fax: 202 927–8525 payment of tax from a factory. TTB has Specialist, Department of the Treasury, Email: [email protected] taken the position that the law provides Alcohol and Tobacco Tax and Trade RIN: 1513–AA49 that manufacturers may remove the Bureau, P.O. Box 18152, Roanoke, VA tobacco products and cigarette papers 24014 and tubes by paying the excise tax and 2481. PETITION TO ESTABLISH Phone: 540 344–9333 subsequently filing a claim for ‘‘SANTA MARIA BENCH’’ AS A NEW Fax: 540 344–5855 drawback. This notice proposes to AMERICAN VITICULTURAL AREA Email: [email protected] clarify the regulations to recognize such RIN: 1513–AA42 Priority: Substantive, Nonsignificant in-transit stops and specifies records Legal Authority: 27 USC 205 that manufacturers and export warehouse proprietors maintain relating 2480. MARKS, LABELS, NOTICES AND CFR Citation: 27 CFR 9 to the removals without payment of tax. BONDS FOR, AND REMOVAL OF, Legal Deadline: None TOBACCO PRODUCTS, AND Timetable: Abstract: TTB received a petition from CIGARETTE PAPERS AND TUBES Action Date FR Cite Cambria Winery and Vineyard Priority: Substantive, Nonsignificant proposing to establish the ‘‘Santa Maria NPRM 12/00/04 Legal Authority: 26 USC 5704; 26 USC Bench’’ viticultural area in Santa Regulatory Flexibility Analysis 7805 Barbara County, California. The Required: No petitioned viticultural area has 3,200 CFR Citation: 27 CFR 40; 27 CFR 275 acres, with 1,500 acres planted to wine Small Entities Affected: No Legal Deadline: None grapes, and is within the established Government Levels Affected: None Santa Maria and the Central Coast Abstract: This notice of proposed viticultural areas. Additional Information: Transferred rulemaking requires labels, notices and from RIN 1512-AC95 marks for removals, in bond, of tobacco Timetable: Agency Contact: Linda products or cigarette papers and tubes Action Date FR Cite that are not in packages. This notice Wade–Chapman, TTB Specialist, proposes new sections that prohibit the NPRM 12/00/04 Department of the Treasury, Alcohol removal of tobacco products or cigarette Regulatory Flexibility Analysis and Tobacco Tax and Trade Bureau, papers or tubes that are not in packages Required: No Room 200E, 1310 G Street NW., Washington, DC 20220 for domestic uses. Packages are the Small Entities Affected: No immediate containers in which a Phone: 202 927–8181 manufacturer or importer places the Government Levels Affected: None Fax: 202 927–8525 tobacco products or cigarette papers or Additional Information: Transferred Email: [email protected] tubes for sale or delivery to the from RIN 1512-AC93 RIN: 1513–AA52
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TREAS—TTB Proposed Rule Stage
2483. PETITION TO EXPAND THE Timetable: Email: [email protected] LIVERMORE VALLEY VITICULTURAL Action Date FR Cite RIN: 1513–AA64 AREA NPRM 07/00/04 Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis 2486. PETITION TO ESTABLISH THE Legal Authority: 27 USC 205 Required: No ‘‘ALEXANDER MOUNTAIN’’ VITICULTURAL AREA CFR Citation: 27 CFR 9 Small Entities Affected: No Priority: Substantive, Nonsignificant Legal Deadline: None Government Levels Affected: None Legal Authority: 27 USC 205 Additional Information: Transferred Abstract: TTB received a petition CFR Citation: 27 CFR 9 proposing to expand the boundaries of from RIN 1512-AD00 approved American viticultural area Agency Contact: Timothy P. Legal Deadline: None Livermore Valley located in the State DeVanney, TTB Specialist, Department Abstract: The proposed Alexander of California. The proposed expanded of the Treasury, Alcohol and Tobacco Mountain 5,990-acre viticultural area, boundaries encompass approximately Tax and Trade Bureau, Room 200E, with 720 acres of winegrape 259,000 acres, of which 4,355 acres are 1310 G Street NW., Washington, DC cultivation, is approximately 65 miles devoted to vineyards. The expansion 20220 north of San Francisco, California. It is would add approximately 163,000 Phone: 202 927–8210 totally within the Alexander Valley, acres, 120 acres of vineyards and four Fax: 202 927–8525 North Sonoma and North Coast wineries to the area. Email: [email protected] viticultural areas. It has elevations Timetable: RIN: 1513–AA55 above the Alexander Valley floor, a mountain climate, and varying terrain Action Date FR Cite orientations for multiple solar NPRM 07/00/04 2485. PETITION TO ESTABLISH THE exposures. The draft notice of proposed ‘‘FORT ROSS SEAVIEW’’ rulemaking is in review. Regulatory Flexibility Analysis VITICULTURAL AREA Required: No Timetable: Priority: Substantive, Nonsignificant Action Date FR Cite Small Entities Affected: No Legal Authority: 27 USC 205 NPRM 09/00/04 Government Levels Affected: None CFR Citation: 27 CFR 9 Regulatory Flexibility Analysis Additional Information: Transferred Legal Deadline: None Required: No from RIN 1512-AC99 Abstract: The proposed 27,500-acre Small Entities Affected: No Agency Contact: Timothy P. Fort Ross-Seaview viticultural area is in Government Levels Affected: None DeVanney, TTB Specialist, Department the North Coast and Sonoma Coast of the Treasury, Alcohol and Tobacco viticultural areas. It is approximately 65 Agency Contact: Nancy Sutton, AVA Tax and Trade Bureau, Room 200E, miles north-northwest from San Coordinator, Department of the 1310 G Street NW., Washington, DC Francisco, close to the Pacific coastline. Treasury, Alcohol and Tobacco Tax and 20220 A significant distinguishing factor of Trade Bureau, Room 5000, Room 200E, Phone: 202 927–8210 the viticultural area, based on its 920 1310 G Street NW., Washington, DC Fax: 202 927–8525 feet and 1,800 feet elevations, is the 20220 Email: [email protected] sunny and warm growing season that Phone: 202 927–8210 contrasts to the surrounding foggy and Fax: 202 927–8525 RIN: 1513–AA54 cooler lower elevations. The draft Email: [email protected] notice of proposed rulemaking is in RIN: 1513–AA65 2484. SAN FRANCISCO BAY AND review. CENTRAL COAST VITICULTURAL Timetable: AREAS—BOUNDARY 2487. PETITION TO ESTABLISH REALIGNMENT/EXPANSION Action Date FR Cite ‘‘GRAND LAKE O’ THE CHEROKEES’’ NPRM 07/00/04 AS A NEW AMERICAN VITICULTURAL Priority: Substantive, Nonsignificant AREA Regulatory Flexibility Analysis Legal Authority: 27 USC 205 Required: No Priority: Substantive, Nonsignificant CFR Citation: 27 CFR 9 Small Entities Affected: No Legal Authority: 27 USC 205 Legal Deadline: None Government Levels Affected: None CFR Citation: 27 CFR 9 Abstract: TTB received a petition Agency Contact: Nancy Sutton, AVA Legal Deadline: None proposing an expansion/realignment of Coordinator, Department of the Abstract: TTB received a petition the boundaries of approved American Treasury, Alcohol and Tobacco Tax and proposing ‘‘Grand Lake O’ the viticultural areas San Francisco Bay Trade Bureau, Room 5000, Room 200E, Cherokees’’ as a new American and Central Coast located in the State 1310 G Street NW., Washington, DC viticultural area in Oklahoma. The of California. In total, the proposed 20220 proposed area is located in the expanded boundaries encompass Phone: 202 927–8210 northeastern region of the State. The approximately 20,000 acres. Fax: 202 927–8525 proposed viticultural area encompasses
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TREAS—TTB Proposed Rule Stage
Craig and portions of Ottawa, Delaware, Phone: 202 927–8210 California. The proposed boundary and Hayes Counties. Fax: 202 927–8525 change extends portions of the Santa Timetable: Email: [email protected] Luca Highlands viticultural area and Related RIN: Related to 1513–AA68 curtails the Arroyo Seco viticultural Action Date FR Cite area. A notice of proposed rulemaking NPRM 07/00/04 RIN: 1513–AA67 is being drafted. Regulatory Flexibility Analysis Timetable: Required: No 2489. PETITION TO ESTABLISH THE ‘‘SHAWNEE HILLS’’ VITICULTURAL Action Date FR Cite Small Entities Affected: No AREA NPRM 12/00/04 Government Levels Affected: None Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis Additional Information: Transferred Legal Authority: 27 USC 205(e) Required: No from RIN 1512-AC97 CFR Citation: 27 CFR 9 Agency Contact: Timothy P. Small Entities Affected: No Legal Deadline: DeVanney, TTB Specialist, Department None Government Levels Affected: None of the Treasury, Alcohol and Tobacco Abstract: TTB requests comments Tax and Trade Bureau, Room 200E, concerning the proposed establishment Agency Contact: Nancy Sutton, AVA 1310 G Street NW., Washington, DC of the ‘‘Shawnee Hills’’ viticultural area Coordinator, Department of the 20220 in southern Illinois. The proposed Treasury, Alcohol and Tobacco Tax and Phone: 202 927–8210 Shawnee Hills viticultural area is Trade Bureau, Room 5000, Room 200E, Fax: 202 927–8525 approximately 80 miles long from the 1310 G Street NW., Washington, DC Email: [email protected] Ohio River on the east to the 20220 RIN: 1513–AA66 Mississippi River on the west, and Phone: 202 927–8210 approximately 20 miles wide from Fax: 202 927–8525 north to south. Approximately 160 Email: [email protected] 2488. PETITION NO. 2 TO EXPAND acres are planted with wine varietals. THE RUSSIAN RIVER VALLEY RIN: 1513–AA72 VITICULTURAL AREA Timetable: Priority: Substantive, Nonsignificant Action Date FR Cite 2491. PETITION TO ESTABLISH ‘‘TEXOMA’’ AS A VITICULTURAL Legal Authority: NPRM 01/00/05 27 USC 205 AREA CFR Citation: 27 CFR 9 Regulatory Flexibility Analysis Required: No Priority: Substantive, Nonsignificant Legal Deadline: None Small Entities Affected: No Legal Authority: Abstract: The proposed Russian River 27 USC 205 Government Levels Affected: Valley viticultural area expansion None CFR Citation: 27 CFR 9 increases the original boundaries by Agency Contact: Rita Butler, 30,200 acres to the east and south Writer–Editor, Department of the Legal Deadline: None sides. The notice of proposed Treasury, Alcohol and Tobacco Tax and Abstract: We have received a petition rulemaking is in review. Trade Bureau, 1310 G Street NW., for the establishment of a viticultural Earlier TTB received a separate Russian Room 200E, Washington, DC 20220 area in north central Texas to be called River Valley viticultural area expansion Phone: 202 927–8210 ‘‘Texoma.’’ petition (RIN 1513-AA68) for a 767-acre Fax: 202 927–8525 expansion. This area is incorporated in Email: [email protected] Timetable: the larger 30,200-acre expansion noted RIN: 1513–AA70 Action Date FR Cite above. The final rule was effective NPRM 07/00/04 February 2, 2004. 2490. PROPOSED AMENDED Regulatory Flexibility Analysis Timetable: BOUNDARIES FOR THE SANTA LUCIA Required: No Action Date FR Cite HIGHLANDS AND THE ARROYO SECO VITICULTURAL AREA NPRM 10/00/04 Small Entities Affected: No Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant Government Levels Affected: None Required: No Legal Authority: 27 USC 205(e) Agency Contact: Jennifer Berry, TTB Small Entities Affected: No CFR Citation: 27 CFR 9.139; 27 CFR Specialist, Department of the Treasury, Government Levels Affected: None 9.59 Alcohol and Tobacco Tax and Trade Legal Deadline: None Bureau, P.O. Box 18152, Roanoke, VA Agency Contact: Nancy Sutton, AVA 24014 Coordinator, Department of the Abstract: TTB requests comments Phone: 540 344–9333 Treasury, Alcohol and Tobacco Tax and concerning the proposed changes to the Fax: 540 344–5855 Trade Bureau, Room 5000, Room 200E, boundaries of the Santa Lucia Email: [email protected] 1310 G Street NW., Washington, DC Highlands and Arroyo Seco viticultural 20220 areas located in Monterey County, RIN: 1513–AA77
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TREAS—TTB Proposed Rule Stage
2492. PETITION TO ESTABLISH THE Regulatory Flexibility Analysis 2495. • PROPOSED ESTABLISHMENT ‘‘HIGH VALLEY’’ VITICULTURAL AREA Required: No OF DEER CREEK HILLS VITICULTURAL AREA Priority: Substantive, Nonsignificant Small Entities Affected: No Priority: Substantive, Nonsignificant Legal Authority: 27 USC 205 Government Levels Affected: None Legal Authority: 27 USC 205 CFR Citation: 27 CFR 9 Agency Contact: Nancy Sutton, AVA CFR Citation: 27 CFR 9 Legal Deadline: None Coordinator, Department of the Legal Deadline: None Abstract: TTB has received a petition Treasury, Alcohol and Tobacco Tax and to establish the ‘‘High Valley’’ Trade Bureau, Room 5000, Room 200E, Abstract: The Lodi American viticultural area, which is located about 1310 G Street NW., Washington, DC Viticultural Areas (LAVA) Steering 85 miles north of San Francisco, 20220 Committee proposes to establish the California, on the eastern shore of Clear Phone: 202 927–8210 78,800-acre ‘‘Deer Creek Hills’’ Lake. A notice of proposed rulemaking Fax: 202 927–8525 viticultural area within the northeast is in TTB review. Email: [email protected] portion of the established Lodi viticultural area. The distinctive RIN: Timetable: 1513–AA82 viticultural environment of the Action Date FR Cite proposed Deer Creek Hills viticultural area includes warm temperatures, NPRM 09/00/04 2494. • PROPOSED ESTABLISHMENT OF THE COSUMNES RIVER significant rain and fog, high elevations Regulatory Flexibility Analysis VITICULTURAL AREA and old soils. The Committee is Required: No petitioning for seven new viticultural Priority: Substantive, Nonsignificant Small Entities Affected: No areas within the original boundaries of Legal Authority: 27 USC 205 the Lodi viticultural area. A notice of Government Levels Affected: None proposed rulemaking is being reviewed. CFR Citation: Agency Contact: Nancy Sutton, TTB 27 CFR 9 Timetable: Specialist, Department of the Treasury, Legal Deadline: None Alcohol and Tobacco Tax and Trade Action Date FR Cite Bureau, Room 200E, 1310 G Street Abstract: The Lodi American NPRM 10/00/04 NW., Washington, DC 20220 Viticultural Areas (LAVA) Steering Regulatory Flexibility Analysis Committee proposes to establish the Phone: 202 927–8210 Required: No Fax: 202 927–8525 54,700-acre ‘‘Cosumnes River’’ Email: [email protected] viticultural area in the northwest Small Entities Affected: No portion of the established Lodi RIN: 1513–AA79 Government Levels Affected: None viticultural area. The most Agency Contact: distinguishing features of the area Nancy Sutton, AVA 2493. • PROPOSED ESTABLISHMENT include the cool and windy climate, Coordinator, Department of the OF ALTA MESA VITICULTURAL AREA alluvial soils, and low elevation terrain. Treasury, Alcohol and Tobacco Tax and Trade Bureau, Room 5000, Room 200E, Priority: Substantive, Nonsignificant The Committee is petitioning for seven new viticultural areas within the 1310 G Street NW., Washington, DC Legal Authority: 27 USC 205 boundaries of the original Lodi 20220 Phone: 202 927–8210 CFR Citation: 27 CFR 9 viticultural area. A notice of proposed rulemaking is being reviewed. Fax: 202 927–8525 Legal Deadline: None Email: [email protected] Timetable: Abstract: The Lodi American RIN: 1513–AA84 Viticultural Areas (LAVA) Steering Action Date FR Cite Committee proposes the establishment NPRM 10/00/04 2496. • PROPOSED ESTABLISHMENT of the 55,400-acre ‘‘Alta Mesa’’ OF MOKELUMNE RIVER Regulatory Flexibility Analysis viticultural area in the north central VITICULTURAL AREA portion of the established Lodi Required: No viticultural area. The most Priority: Substantive, Nonsignificant Small Entities Affected: No distinguishing features of the area Legal Authority: 27 USC 205 include ‘‘Alta Mesa,’’ a table-top Government Levels Affected: None CFR Citation: 27 CFR 9 landform, and San Joaquin soil series that dominates 90 percent of the land. Agency Contact: Nancy Sutton, AVA Legal Deadline: None Coordinator, Department of the The Committee is petitioning for seven Abstract: Treasury, Alcohol and Tobacco Tax and The Lodi American new viticultural areas within the Viticultural Areas (LAVA) Steering original Lodi viticultural area Trade Bureau, Room 5000, Room 200E, 1310 G Street NW., Washington, DC Committee proposes the establishment boundaries. A notice of proposed of the 85,700-acre ‘‘Mokelumne River’’ rulemaking is being reviewed. 20220 Phone: 202 927–8210 viticultural area in the southwest Timetable: Fax: 202 927–8525 portion of the established Lodi Email: [email protected] viticultural area. The most Action Date FR Cite distinguishing factors of the area NPRM 10/00/04 RIN: 1513–AA83 include the alluvial fan with its
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TREAS—TTB Proposed Rule Stage
topography and geology in contrast to Treasury, Alcohol and Tobacco Tax and Abstract: The Lodi American the surrounding areas, and the cool, Trade Bureau, Room 5000, Room 200E, Viticultural Areas (LAVA) Steering breezy climate. The Committee is 1310 G Street NW., Washington, DC Committee proposes the establishment petitioning for seven new viticultural 20220 of the 84,500-acre ‘‘Clements Hills’’ areas within the original Lodi Phone: 202 927–8210 viticultural area in the southeast viticultural area. A notice ofproposed Fax: 202 927–8525 portion of the established Lodi rulemaking is being reviewed. Email: [email protected] viticultural area. It is a topographic Timetable: RIN: 1513–AA86 transition area between the low and flat San Joaquin Valley floor to the west Action Date FR Cite and the progressively more NPRM 10/00/04 2498. • PROPOSED ESTABLISHMENT mountainous Sierra Foothills to the Regulatory Flexibility Analysis OF BORDEN RANCH VITICULTURAL east. The most distinguishing features AREA Required: No of the Clements Hills area are the high Priority: Substantive, Nonsignificant elevation river terraces and rounded Small Entities Affected: No hilltops. The Committee is petitioning Government Levels Affected: None Legal Authority: 27 USC 205 for seven new viticultural areas within Agency Contact: Nancy Sutton, AVA CFR Citation: 27 CFR 9 the original Lodi viticultural area boundaries. A notice of proposed Coordinator, Department of the Legal Deadline: None Treasury, Alcohol and Tobacco Tax and rulemaking is being reviewed. Abstract: The Lodi American Trade Bureau, Room 5000, Room 200E, Timetable: Viticultural Areas (LAVA) Steering 1310 G Street NW., Washington, DC Committee proposes the establishment Action Date FR Cite 20220 of the 70,000-acre ‘‘Borden Ranch’’ Phone: 202 927–8210 NPRM 10/00/04 viticultural area in the east central Fax: 202 927–8525 Regulatory Flexibility Analysis Email: [email protected] portion of the Lodi viticultural area. The most distinctive features include Required: No RIN: 1513–AA85 old alluvial fans, river terraces and Small Entities Affected: No plains, high elevations and a Government Levels Affected: None • windswept climate. The Committee is 2497. PROPOSED ESTABLISHMENT Agency Contact: Nancy Sutton, AVA OF JAHANT VITICULTURAL AREA petitioning for seven new viticultural areas within the original Lodi Coordinator, Department of the Priority: Substantive, Nonsignificant viticultural area boundaries. A notice Treasury, Alcohol and Tobacco Tax and Legal Authority: 27 USC 205 of proposed rulemaking is being Trade Bureau, Room 5000, Room 200E, 1310 G Street NW., Washington, DC CFR Citation: reviewed. 27 CFR 9 20220 Legal Deadline: None Timetable: Phone: 202 927–8210 Abstract: The Lodi American Action Date FR Cite Fax: 202 927–8525 Email: [email protected] Viticultural Areas (LAVA) Steering NPRM 10/00/04 Committee proposes the establishment RIN: 1513–AA88 of the 28,000-acre ‘‘Jahant’’ viticultural Regulatory Flexibility Analysis area, located in the central-west portion Required: No 2500. • PROPOSED ESTABLISHMENT of the established Lodi viticultural area. Small Entities Affected: No The most distinguishing features of the OF THE MT. OSO VITICULTURAL Government Levels Affected: None area are the pink Jahant loam soil with AREA its unique grape-growing qualities, the Agency Contact: Nancy Sutton, AVA Priority: Substantive, Nonsignificant Coordinator, Department of the terrain with its river terraces and old Legal Authority: 27 USC 205 floodplain deposits, and the cool, dry Treasury, Alcohol and Tobacco Tax and and windy climate. The Committee is Trade Bureau, Room 5000, Room 200E, CFR Citation: 27 CFR 9 petitioning for seven new viticultural 1310 G Street NW., Washington, DC Legal Deadline: None 20220 areas within the boundaries of the Abstract: The proposed Mt. Oso Phone: 202 927–8210 original Lodi viticultural area. A notice viticultural area, about 15 miles long Fax: 202 927–8525 of proposed rulemaking is being and 5 miles wide with 1,005 acres of Email: [email protected] reviewed. vineyards, is nestled in the foothills Timetable: RIN: 1513–AA87 between the San Joaquin Valley and the Action Date FR Cite Diablo Range in San Joaquin and Stanislaus counties. The sloping NPRM 10/00/04 2499. • PROPOSED ESTABLISHMENT OF CLEMENTS HILLS VITICULTURAL hillside topography includes streams Regulatory Flexibility Analysis AREA and alluvial fans and plains. The Required: No distinguishing climatic features of this Priority: Substantive, Nonsignificant Small Entities Affected: No 38,414-acre proposed area include Legal Authority: 27 USC 205 limited rainfall and persistent winds, Government Levels Affected: None along with sparse fog, frost and dew. Agency Contact: Nancy Sutton, AVA CFR Citation: 27 CFR 9 A notice of proposed rulemaking is Coordinator, Department of the Legal Deadline: None being reviewed.
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TREAS—TTB Proposed Rule Stage
Timetable: Phone: 202 927–8210 allow consumers to better identify the Action Date FR Cite Fax: 202 927–8525 wines they may purchase. We invite Email: [email protected] comments on this proposed addition to NPRM 10/00/04 RIN: 1513–AA90 our regulations, particularly from Regulatory Flexibility Analysis bottlers who use brand names similar Required: No to Calistoga. 2502. • PROPOSED ESTABLISHMENT Timetable: Small Entities Affected: No OF HORSE HEAVEN HILLS Action Date FR Cite Government Levels Affected: None Priority: Substantive, Nonsignificant NPRM 09/00/04 Agency Contact: Nancy Sutton, TTB Legal Authority: 27 USC 205 Specialist, Department of the Treasury, Regulatory Flexibility Analysis CFR Citation: 27 CFR 9 Alcohol and Tobacco Tax and Trade Required: No Bureau, Room 200E, 1310 G Street Legal Deadline: None Small Entities Affected: No NW., Washington, DC 20220 Abstract: Paul D. Lucas is proposing Government Levels Affected: Phone: 202 927–8210 the establishment of the 570,000-acre None Fax: 202 927–8525 Horse Heaven Hills viticultural area. It Agency Contact: Lisa M. Gesser, TTB Email: [email protected] is in the southern central part of Specialist, Department of the Treasury, RIN: 1513–AA89 Washington, east of the Cascade Alcohol and Tobacco Tax and Trade Mountain Range and north and west of Bureau, P.O. Box 128, Morganza, MD the Columbia River, and is entirely 20660 2501. • PROPOSED ESTABLISHMENT within the Columbia Valley viticultural Phone: 301 290–1460 OF COVELO VITICULTURAL AREA area. The Horse Heaven Hills area is Fax: 301 290–1463 Priority: Substantive, Nonsignificant noted for its series of south facing Email: [email protected] Legal Authority: 27 USC 205 slopes and significant wind patterns. A RIN: 1513–AA92 notice of proposed rulemaking is in CFR Citation: 27 CFR 9 review. 2504. • RAMONA VALLEY Legal Deadline: None Timetable: VITICULTURAL AREA Abstract: Ralph Carter of Sonoma, Action Date FR Cite California is petitioning to establish Priority: Substantive, Nonsignificant NPRM 08/00/04 Covelo as an American viticultural Legal Authority: 27 USC 205 Regulatory Flexibility Analysis area. Covelo area is 164 miles north of CFR Citation: 27 CFR 9 San Francisco and immediately south Required: No Legal Deadline: None of the Round Valley Indian Reservation Small Entities Affected: No in northern CA. The proposed area has Abstract: The proposed 89,000-acre Government Levels Affected: None 38,000 acres with two acres of planted Ramona Valley viticultural area is in grape vines, but more area that the Agency Contact: Nancy Sutton, AVA San Diego County, CA, and totally petitioner believes has good viticultural Coordinator, Department of the within the established, larger South potential. The distinctive features Treasury, Alcohol and Tobacco Tax and Coast viticultural area. The include the bowl-shape of the Covelo Trade Bureau, Room 5000, Room 200E, distinguishing factors of the Ramona valley area that contrasts to the narrow 1310 G Street NW., Washington, DC Valley area, according to the petition, valleys, with north-south orientations, 20220 include its high-elevation geography, commonly found in Mendocino Phone: 202 927–8210 climate that is based primarily on its County. Also, it has a short grape- Fax: 202 927–8525 inland location, and soils, to a lesser growing season when compared to Email: [email protected] extent. There are currently 45 acres of other Mendocino County viticultural RIN: 1513–AA91 vineyards in commercial production. A areas. A notice of proposed rulemaking notice of proposed rulemaking is in is in review. review. 2503. • PETITION TO ESTABLISH Timetable: ‘‘CALISTOGA’’ AS AN AMERICAN Timetable: Action Date FR Cite VITICULTURAL AREA Action Date FR Cite NPRM 08/00/04 Priority: Substantive, Nonsignificant NPRM 12/00/04 Regulatory Flexibility Analysis Legal Authority: 27 USC 205 NPRM Comment 02/00/05 Required: No Period End CFR Citation: 27 CFR 9 Small Entities Affected: No Regulatory Flexibility Analysis Legal Deadline: None Required: No Government Levels Affected: None Abstract: In response to a petition, the Small Entities Affected: No Agency Contact: Nancy Sutton, AVA Alcohol and Tobacco Tax and Trade Coordinator, Department of the Bureau proposes to establish the Government Levels Affected: None Treasury, Alcohol and Tobacco Tax and Calistoga viticultural area in Calistoga, Agency Contact: Nancy Sutton, AVA Trade Bureau, Room 5000, Room 200E, Napa Valley, California. We designate Coordinator, Department of the 1310 G Street NW., Washington, DC viticultural areas to allow bottlers to Treasury, Alcohol and Tobacco Tax and 20220 better describe the origin of wines and Trade Bureau, Room 5000, Room 200E,
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TREAS—TTB Proposed Rule Stage
1310 G Street NW., Washington, DC North Coast AVA. Dos Rios is about Action Date FR Cite 20220 150 miles north of San Francisco and Phone: 202 927–8210 25 miles east of the Pacific Ocean. The NPRM Comment 02/00/05 Fax: 202 927–8525 distinguishing factors of the Dos Rios Period End Email: [email protected] area include significant wind patterns, Regulatory Flexibility Analysis RIN: 1513–AA94 a transitional climate, elevations Required: No between 800 feet and 2000 feet, sloping Small Entities Affected: No terrains with 30 percent to 75 percent 2505. • DOS RIOS VITICULTURAL inclines, relatively infertile soils, and Government Levels Affected: None AREA close proximity totwo rivers. The Agency Contact: Nancy Sutton, AVA Priority: Substantive, Nonsignificant petitioner states the area has six acres Coordinator, Department of the of planted commercial vineyards and Legal Authority: 27 USC 205 Treasury, Alcohol and Tobacco Tax and the potential for more viticultural Trade Bureau, Room 5000, Room 200E, CFR Citation: 27 CFR 9 growth. A notice of proposed 1310 G Street NW., Washington, DC Legal Deadline: None rulemaking is being drafted. 20220 Abstract: Ralph Jens Carter of Sonoma, Timetable: Phone: 202 927–8210 California, is proposing the new Dos Fax: 202 927–8525 Action Date FR Cite Rios AVA, located about 5 miles Email: [email protected] beyond the northern boundary of the NPRM 12/00/04 RIN: 1513–AA95
Department of the Treasury (TREAS) Final Rule Stage Alcohol and Tobacco Tax and Trade Bureau (TTB)
ALCOHOL Phone: 301 290–1460 Timetable: Fax: 301 290–1463 Action Date FR Cite Email: [email protected] 2506. PETITION TO ESTABLISH Final Action 09/00/04 ‘‘ALEXANDRIA LAKES’’ AS A NEW RIN: 1513–AA45 Final Action Effective 09/00/04 AMERICAN VITICULTURAL AREA Regulatory Flexibility Analysis Required: Priority: Substantive, Nonsignificant Administrative/Procedures No Legal Authority: 27 USC 205 Small Entities Affected: No CFR Citation: 27 CFR 9 Government Levels Affected: None 2507. ADMINISTRATIVE CHANGES TO Legal Deadline: None Agency Contact: Lisa M. Gesser, TTB ALCOHOL, TOBACCO, AND Specialist, Department of the Treasury, Abstract: TTB proposes to establish FIREARMS REGULATIONS DUE TO Alcohol and Tobacco Tax and Trade ‘‘Alexandria Lakes’’ as a new American THE HOMELAND SECURITY ACT OF Bureau, P.O. Box 128, Morganza, MD viticultural area. The proposed area is 2002 20660 located in Douglas County, Minnesota. Phone: 301 290–1460 Priority: Info./Admin./Other This proposal is a result of a petition Fax: 301 290–1463 filed by Robert G. Johnson on behalf Legal Authority: PL 107–296; . . . Email: [email protected] of Carlos Creek Winery. RIN: 1513–AA80 Timetable: CFR Citation: 27 CFR 1; 27 CFR 4; 27 CFR 5; 27 CFR 6; 27 CFR 8; . . . Action Date FR Cite 2508. IMPLEMENTATION OF PUBLIC NPRM 01/23/03 68 FR 3199 Legal Deadline: None LAW 105–33, SECTION 9302, NPRM Comment 03/24/03 REQUIRING THE QUALIFICATION OF Abstract: The Homeland Security Act Period End TOBACCO PRODUCT IMPORTERS Final Action 09/00/04 of 2002 divided the Bureau of Alcohol, AND MISCELLANEOUS TECHNICAL Tobacco and Firearms, Department of AMENDMENTS Regulatory Flexibility Analysis the Treasury, into two separate Required: No agencies, the Bureau of Alcohol, Priority: Substantive, Nonsignificant Small Entities Affected: No Tobacco, Firearms and Explosives in Legal Authority: 26 USC 5712; 26 USC Government Levels Affected: None the Department of Justice, and the 5713 Alcohol and Tobacco Tax and Trade Additional Information: CFR Citation: 27 CFR 275 Transferred Bureau in the Department of the from RIN 1512-AC85 Legal Deadline: Treasury. Due to these changes, this Other, Statutory, January 1, 2000, Interim Final Rule. Agency Contact: Lisa M. Gesser, TTB final rule amends the Alcohol and Specialist, Department of the Treasury, Tobacco Tax and Trade Bureau’s Abstract: These regulations will Alcohol and Tobacco Tax and Trade regulations to reflect the Bureau’s new implement section 9302 provisions of Bureau, P.O. Box 128, Morganza, MD name and organizational structure. Public Law 105-33, requiring permits 20660 for businesses engaged in importing
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TREAS—TTB Final Rule Stage
tobacco products. Also, minor technical Action Date FR Cite Government Levels Affected: None amendments have been included in this Additional Information: Transferred rule. Extended Comment 10/21/03 Period End from RIN 1512-AC24 Timetable: Final Action 12/00/04 Agency Contact: Linda Action Date FR Cite Final Action Effective 01/00/05 Wade–Chapman, TTB Specialist, Department of the Treasury, Alcohol NPRM 12/22/99 64 FR 71955 Regulatory Flexibility Analysis and Tobacco Tax and Trade Bureau, Interim Final Rule 12/22/99 64 FR 71947 Required: No Room 200E, 1310 G Street NW., Interim Final Rule 01/01/00 Small Entities Affected: Businesses Effective Washington, DC 20220 Interim Final Rule 05/03/00 65 FR 17477 Government Levels Affected: None Phone: 202 927–8181 Comment Period Additional Information: Transferred Fax: 202 927–8525 End from RIN 1512-AC11 Email: [email protected] Final Action 12/00/04 URL For Public Comments: RIN: 1513–AA17 Regulatory Flexibility Analysis http://www.ttb.gov/foia/ Required: No nprmlcomments/ 2511. ELIMINATION OF STATISTICAL Small Entities Affected: No ttbnotice04lcomments.htm CLASSES FOR LARGE CIGARS Government Levels Affected: None Agency Contact: Charles N. Bacon, Priority: Substantive, Nonsignificant Program Manager, Department of the Additional Information: Transferred Legal Authority: 26 USC 7805; 26 USC Treasury, Alcohol and Tobacco Tax and 5722 from RIN 1512-AC07 Trade Bureau, P.O. Box 5056, Beverly Agency Contact: Linda Farms, MA 01915 CFR Citation: 27 CFR 40; 27 CFR 275 Wade–Chapman, TTB Specialist, Phone: 978 921–1840 Legal Deadline: None Department of the Treasury, Alcohol Fax: 978 921–1840 Abstract: This notice proposes to and Tobacco Tax and Trade Bureau, Email: [email protected] eliminate reporting categories in Room 200E, 1310 G Street NW., RIN: 1513–AA12 regulations. Washington, DC 20220 Phone: 202 927–8181 Timetable: Fax: 202 927–8525 2510. TOBACCO PRODUCTS AND Action Date FR Cite Email: [email protected] CIGARETTE PAPERS AND TUBES NPRM 11/05/02 67 FR 67340 RIN: 1513–AA10 SHIPPED FROM PUERTO RICO TO THE UNITED STATES NPRM Comment 12/05/02 Period End Priority: Substantive, Nonsignificant 2509. FLAVORED MALT BEVERAGES Final Action 12/00/04 AND RELATED PROPOSALS Legal Authority: 27 USC 5701; 27 USC Regulatory Flexibility Analysis 7652 Required: No Priority: Substantive, Nonsignificant CFR Citation: 27 CFR 275 Small Entities Affected: No Legal Authority: 27 USC 211; 27 USC 205; 26 USC 5052 Legal Deadline: None Government Levels Affected: None CFR Citation: 27 CFR 7; 27 CFR 25 Abstract: This temporary rule Additional Information: Transferred eliminates TTB onsite supervision of from RIN 1512-AC33 Legal Deadline: None tobacco products and cigarette papers Agency Contact: Linda Abstract: TTB issued ATF Rulings 96- and tubes of Puerto Rican manufacture Wade–Chapman, TTB Specialist, 1 and 2002-2 to address production and that are shipped from Puerto Rico to Department of the Treasury, Alcohol labeling of flavored malt beverages that the United States. It also eliminates and Tobacco Tax and Trade Bureau, derive their alcohol content from related forms. This rule requires that Room 200E, 1310 G Street NW., flavoring materials. TTB has studied persons who ship such articles Washington, DC 20220 the issue of flavored malt beverages and maintain records so that the amount of Phone: 202 927–8181 is proposing rules to limit the tax is calculated and recorded for TTB Fax: 202 927–8525 contribution of distilled spirits derived audit and examination. Also, this Email: [email protected] from flavoring materials in flavored temporary rule simplifies and clarifies malt beverages. These proposals certain sections. RIN: 1513–AA18 address production, identity, labeling, Timetable: formulation, and tax issues related to 2512. LIQUOR DEALERS; flavored malt beverages. Action Date FR Cite RECODIFICATION OF REGULATIONS Timetable: NPRM 03/08/01 66 FR 13864 Priority: Info./Admin./Other Interim Final Rule 03/08/01 66 FR 13849 Action Date FR Cite NPRM Comment 05/07/01 66 FR 13864 Legal Authority: 26 USC 7805 NPRM 03/24/03 68 FR 14292 Period End CFR Citation: 27 CFR 31; 27 CFR 194; NPRM Comment 06/23/03 Final Action 12/00/04 ... Period End Regulatory Flexibility Analysis Legal Deadline: None NPRM Comment 06/02/03 68 FR 32698 Required: Period End No Abstract: TTB is recodifying the Extended Small Entities Affected: No regulations pertaining to liquor dealers.
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TREAS—TTB Final Rule Stage
The purpose of this recodification is to Agency Contact: Nancy Sutton, AVA CFR Citation: 27 CFR 9 reissue the regulations in part 194 of Coordinator, Department of the Legal Deadline: title 27 of the Code of Federal Treasury, Alcohol and Tobacco Tax and None Regulations (CFR) as 27 CFR part 31. Trade Bureau, Room 5000, Room 200E, Abstract: TTB has received petitions This change improves the organization 1310 G Street NW., Washington, DC proposing the establishment of the of title 27 CFR. In addition, due to the 20220 ‘‘San Bernabe’’ viticultural area and the reorganization of ATF into two separate Phone: 202 927–8210 realignment of the San Lucas American bureaus, we are making nomenclature Fax: 202 927–8525 Viticultural Area (AVA). Both areas are changes to this part. Email: [email protected] situated within the Central Coast AVA Timetable: RIN: 1513–AA20 and the Monterey AVA and are located in central Monterey County, California. Action Date FR Cite The San Lucas realignment will transfer Final Action 06/00/04 2514. PRODUCTION OF DRIED FRUIT 1,100 northwest acres to the San Regulatory Flexibility Analysis AND HONEY WINES Bernabe southern area in an effort to Required: No Priority: Substantive, Nonsignificant conform with the geography of the new area. No comments were received in Small Entities Affected: No Legal Authority: 26 USC 5381; 26 USC response to the notice of proposed 5382; 26 USC 5385; 26 USC 5386; 26 Government Levels Affected: None rulemaking and the draft final rule is USC 5387 Additional Information: Transferred being reviewed. CFR Citation: 27 CFR 24 from RIN 1512-AC45 Timetable: Agency Contact: Karl Joedicke, TTB Legal Deadline: None Action Date FR Cite Specialist, Department of the Treasury, Abstract: TTB has received two Alcohol and Tobacco Tax and Trade petitions relating to the production of NPRM 05/14/03 68 FR 25851 Bureau, 1310 G Street NW., Room agricultural wines. One petition NPRM Comment 07/14/03 200E, Washington, DC 20220 proposes that the wine regulations be Period End Phone: 202 927–7460 amended to allow for the production Final Action 09/00/04 Fax: 202 927–8525 of dried fruit wines with an alcohol by Regulatory Flexibility Analysis Email: [email protected] volume content of more than 14 Required: No RIN: 1513–AA19 percent. The second petition proposes that the regulations be amended to Small Entities Affected: No allow for the production of honey Government Levels Affected: None 2513. IMPORTATION OF TOBACCO wines with a starting Brix of less than PRODUCTS AND CIGARETTE PAPERS 22 degrees. Additional Information: Transferred AND TUBES; RECODIFICATION OF from RIN 1512-AC60 REGULATIONS Timetable: Priority: Info./Admin./Other Action Date FR Cite Agency Contact: Nancy Sutton, AVA Coordinator, Department of the Legal Authority: 26 USC 7805 NPRM 07/02/03 68 FR 39500 Treasury, Alcohol and Tobacco Tax and CFR Citation: 27 CFR 41; 27 CFR 275 NPRM Comment 09/02/03 Trade Bureau, Room 5000, Room 200E, Period End 1310 G Street NW., Washington, DC Legal Deadline: None Final Action 07/00/04 20220 Abstract: TTB is recodifying the Regulatory Flexibility Analysis Phone: 202 927–8210 regulations in part 275, Importation of Required: No Fax: 202 927–8525 Tobacco Products and Cigarette Papers Small Entities Affected: Email: [email protected] and Tubes. The purpose of this No recodification is to reissue the Government Levels Affected: None RIN: 1513–AA28 regulations in part 275 of title 27 of Additional Information: Transferred the Code of Federal Regulations (CFR) from RIN 1512-AC48 2516. PETITION TO ESTABLISH THE as 27 CFR part 41. In addition, we are ‘‘TRINITY LAKE’’ VITICULTURAL making the necessary nomenclature Agency Contact: Jennifer Berry, TTB AREA changes to this part due to the Specialist, Department of the Treasury, reorganization of ATF into two separate Alcohol and Tobacco Tax and Trade Priority: Substantive, Nonsignificant bureaus. Final ruling is in review. Bureau, P.O. Box 18152, Roanoke, VA 24014 Legal Authority: 27 USC 205 Timetable: Phone: 540 344–9333 CFR Citation: 27 CFR 9 Action Date FR Cite Fax: 540 344–5855 Final Action 12/00/04 Email: [email protected] Legal Deadline: None Regulatory Flexibility Analysis RIN: 1513–AA21 Abstract: TTB has received a petition Required: No from Keith Groves of Alpen Cellars Small Entities Affected: No 2515. PROPOSED ‘‘SAN BERNABE’’ proposing the establishment of a VITICULTURAL AREA viticultural area located in Trinity Government Levels Affected: None County, California. The proposed Additional Information: Transferred Priority: Substantive, Nonsignificant Trinity Lake viticultural area consists from RIN 1512-AC46 Legal Authority: 27 USC 205 of approximately 96,000 acres.
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TREAS—TTB Final Rule Stage
Timetable: Bureau, P.O. Box 18152, Roanoke, VA CFR Citation: 27 CFR 9 Action Date FR Cite 24014 Legal Deadline: None Phone: 540 344–9333 NPRM 12/17/03 68 FR 70215 Fax: 540 344–5855 Abstract: TTB received a petition NPRM Comment 02/17/04 Email: [email protected] proposing the establishment of ‘‘Red Period End Hill’’ as an American viticultural area RIN: Final Action 10/00/04 1513–AA32 located within the State of Oregon. The Regulatory Flexibility Analysis proposed viticultural area consists of Required: No 2518. PETITION TO ESTABLISH ‘‘RED approximately 1,668 acres or 8.6 square HILLS LAKE COUNTY’’ AMERICAN miles. Small Entities Affected: No VITICULTURAL AREA Timetable: Government Levels Affected: None Priority: Substantive, Nonsignificant Action Date FR Cite Additional Information: Transferred Legal Authority: 27 USC 205 from RIN 1512-AC62 NPRM 10/30/02 67 FR 66079 CFR Citation: 27 CFR 9 NPRM Comment 12/30/02 Agency Contact: Timothy P. Period End Legal Deadline: None DeVanney, TTB Specialist, Department NPRM Comment 01/16/03 68 FR 2262 of the Treasury, Alcohol and Tobacco Abstract: The comment period for the Period Reopened Tax and Trade Bureau, Room 200E, Red Hills (California) 31,250-acre Second NPRM 03/17/03 1310 G Street NW., Washington, DC proposed viticultural area closed in Comment Period 20220 March 2003. Based on the 14 public End Phone: 202 927–8210 comments and requests by the Final Action 12/00/04 Fax: 202 927–8525 petitioning group, the name will be Regulatory Flexibility Analysis Email: [email protected] finalized as Red Hills Lake County, to Required: No better identify the location of the RIN: 1513–AA29 Small Entities Affected: No viticultural area. The originally petitioned boundaries will be expanded Government Levels Affected: None 2517. PROPOSAL TO RECOGNIZE to the northwest to include Benson Additional Information: Transferred SYNONYMS FOR PETITE SIRAH AND Ridge. A draft final rule is in review. from RIN 1512-AC76 ZINFANDEL GRAPE VARIETIES Timetable: Agency Contact: Timothy P. Priority: Substantive, Nonsignificant Action Date FR Cite DeVanney, TTB Specialist, Department Legal Authority: 27 USC 205 of the Treasury, Alcohol and Tobacco NPRM 10/30/02 67 FR 66083 Tax and Trade Bureau, Room 200E, CFR Citation: 27 CFR 4 NPRM Comment 12/30/02 1310 G Street NW., Washington, DC Period End Legal Deadline: 20220 None NPRM Comment 01/16/03 68 FR 2262 Abstract: TTB is proposing to amend Period Reopened Phone: 202 927–8210 the list of prime grape names for Second NPRM 03/17/03 Fax: 202 927–8525 American wines to recognize the name Comment Period Email: [email protected] ‘‘Durif’’ as a synonym for the Petite End RIN: 1513–AA39 Sirah grape and to recognize the name Final Action 09/00/04 ‘‘Primitivo’’ as a synonym for the Regulatory Flexibility Analysis 2520. PETITION TO ESTABLISH Zinfandel grape. This is in response to Required: No ‘‘EOLA HILLS’’ AS A NEW AMERICAN the result of recent DNA research into Small Entities Affected: No VITICULTURAL AREA the identity of these grape varieties. Government Levels Affected: None Priority: Substantive, Nonsignificant Timetable: Additional Information: Transferred Legal Authority: 27 USC 205 Action Date FR Cite from RIN 1512-AC66 CFR Citation: 27 CFR 9 NPRM 04/10/02 67 FR 17312 Agency Contact: Nancy Sutton, TTB Legal Deadline: None NPRM Comment 06/06/02 67 FR 38915 Specialist, Department of the Treasury, Period Extended Alcohol and Tobacco Tax and Trade Abstract: TTB has received a petition NPRM Comment 10/08/02 Bureau, Room 200E, 1310 G Street proposing the establishment of ‘‘Eola Period End NW., Washington, DC 20220 Hills’’ as a new American viticultural Final Action 08/00/04 Phone: 202 927–8210 area in Oregon. Regulatory Flexibility Analysis Fax: 202 927–8525 Timetable: Required: No Email: [email protected] Action Date FR Cite RIN: 1513–AA33 Small Entities Affected: No NPRM 09/08/03 68 FR 52875 Government Levels Affected: None NPRM Comment 11/07/03 Additional Information: Transferred 2519. PETITION FOR THE Period End from RIN 1512-AC65 ESTABLISHMENT OF ‘‘RED HILL’’ AS Comment Period 11/07/03 68 FR 63042 AN AMERICAN VITICULTURAL AREA Extended Agency Contact: Jennifer Berry, TTB Extended Comment 01/06/04 Specialist, Department of the Treasury, Priority: Substantive, Nonsignificant Period End Alcohol and Tobacco Tax and Trade Legal Authority: 26 USC 205(e) Final Action 10/00/04
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TREAS—TTB Final Rule Stage
Regulatory Flexibility Analysis Email: [email protected] CFR Citation: 27 CFR 9 Required: No RIN: 1513–AA46 Legal Deadline: None Small Entities Affected: No Abstract: TTB has received a petition Government Levels Affected: None 2522. PETITION TO ESTABLISH proposing the establishment of the Additional Information: Transferred ‘‘DUNDEE HILLS’’ AS A NEW ‘‘Chehalem Mountains’’ viticultural from RIN 1512-AC78 AMERICAN VITICULTURAL AREA area located in Yamhill, Washington, Priority: Substantive, Nonsignificant and Clackamas Counties, Oregon. A Agency Contact: Jennifer Berry, TTB draft final rule is being prepared. Specialist, Department of the Treasury, Legal Authority: 27 USC 205 Timetable: Alcohol and Tobacco Tax and Trade CFR Citation: 27 CFR 9 Bureau, P.O. Box 18152, Roanoke, VA Action Date FR Cite 24014 Legal Deadline: None NPRM 10/07/03 68 FR 57840 Phone: 540 344–9333 Abstract: TTB has received a petition from the North Willamette Valley AVA NPRM Comment 12/08/03 Fax: 540 344–5855 Period End Group proposing to establish the Email: [email protected] Final Action 03/00/05 ‘‘Dundee Hills’’ American viticultural RIN: 1513–AA41 area in Yamhill County, Oregon. This Regulatory Flexibility Analysis petitioned viticultural area has 6,490 Required: No 2521. ORGANIC CLAIMS IN LABELING acres, with 1,264 acres planted to wine Small Entities Affected: No AND ADVERTISING OF ALCOHOL grapes, and is on the north side of the BEVERAGES Willamette Valley viticultural area in Government Levels Affected: None Priority: Info./Admin./Other northwest Oregon. In November 2002, Additional Information: Transferred the petitioning group amended their from RIN 1512-AD02 Legal Authority: 27 USC 205 viticultural area petition from the Red Agency Contact: Hills of Dundee to the Dundee Hills Nancy Sutton, AVA CFR Citation: 27 CFR 4; 27 CFR 5; 27 Coordinator, Department of the CFR 7; 27 CFR 13 to avoid confusion with any other Red Hills viticultural area. Substantiating Treasury, Alcohol and Tobacco Tax and Legal Deadline: None name evidence for the ‘‘Dundee Hills’’ Trade Bureau, Room 5000, Room 200E, Abstract: TTB amended its alcohol name has been provided. The notice of 1310 G Street NW., Washington, DC beverage labeling rules to cross- proposed rulemaking published August 20220 reference the United States Department 15, 2003. The final notice is in TTB Phone: 202 927–8210 of Agriculture’s National Organic review. Fax: 202 927–8525 Email: [email protected] Program (NOP) rules. The mandatory Timetable: compliance date for the NOP rules was RIN: 1513–AA57 October 21, 2002. TTB requested Action Date FR Cite comments on the temporary rule in an NPRM 08/15/03 68 FR 48839 2524. PETITION TO ESTABLISH associated notice of proposed NPRM Comment 10/14/03 ‘‘RIBBON RIDGE’’ AS A NEW rulemaking. Comments were due March Period End AMERICAN VITICULTURAL AREA 27, 2003. Final Action 12/00/04 Timetable: Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant Required: No Action Date FR Cite Legal Authority: 27 USC 205 Small Entities Affected: No NPRM 10/08/02 67 FR 62860 CFR Citation: 27 CFR 9 Temporary Rule 10/08/02 67 FR 62856 Government Levels Affected: None Legal Deadline: None NPRM Comment 12/27/02 67 FR 79011 Additional Information: Transferred Abstract: TTB has received a petition Period Reopened from RIN 1512-AC91 proposing the establishment of the NPRM Comment 05/09/03 68 FR 24903 Agency Contact: Nancy Sutton, AVA Period Reopened ‘‘Ribbon Ridge’’ viticultural area Coordinator, Department of the Final Action 12/00/04 located in the northern part of Yamhill Treasury, Alcohol and Tobacco Tax and County, Oregon between Newberg and Regulatory Flexibility Analysis Trade Bureau, Room 5000, Room 200E, Gaston. A draft final rule is being Required: No 1310 G Street NW., Washington, DC prepared. 20220 Small Entities Affected: No Timetable: Phone: 202 927–8210 Government Levels Affected: None Fax: 202 927–8525 Action Date FR Cite Additional Information: Transferred Email: [email protected] NPRM 11/03/03 68 FR 62259 from RIN 1512-AC87 RIN: 1513–AA50 NPRM Comment 01/02/04 Agency Contact: Marjorie D. Ruhf, Period End Final Action 03/00/05 Program Manager, Department of the 2523. PETITION TO ESTABLISH Treasury, Alcohol and Tobacco Tax and ‘‘CHEHALEM MOUNTAINS’’ AS A NEW Regulatory Flexibility Analysis Trade Bureau, Room 200E, 1310 G AMERICAN VITICULTURAL AREA Required: No Street NW., Washington, DC 20220 Phone: 202 927–8210 Priority: Substantive, Nonsignificant Small Entities Affected: No Fax: 202 927–8525 Legal Authority: 27 USC 205 Government Levels Affected: None
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TREAS—TTB Final Rule Stage
Additional Information: Transferred CFR Citation: 27 CFR 7 Government Levels Affected: None from RIN 1512-AD03 Legal Deadline: None Agency Contact: Jennifer Berry, TTB Agency Contact: Nancy Sutton, AVA Abstract: This project revises malt Specialist, Department of the Treasury, Coordinator, Department of the beverage advertising and labeling Alcohol and Tobacco Tax and Trade Treasury, Alcohol and Tobacco Tax and regulations in plain language. This Bureau, P.O. Box 18152, Roanoke, VA Trade Bureau, Room 5000, Room 200E, revision will make no substantive 24014 1310 G Street NW., Washington, DC changes to the current 27 CFR part 7. Phone: 540 344–9333 20220 Fax: 540 344–5855 Phone: 202 927–8210 Timetable: Email: [email protected] Fax: 202 927–8525 Action Date FR Cite RIN: 1513–AA63 Email: [email protected] NPRM 06/27/02 67 FR 43496 RIN: 1513–AA58 NPRM Comment 08/26/02 2528. PETITION TO ESTABLISH THE Period End ‘‘SALADO CREEK’’ VITICULTURAL NPRM Comment 08/27/02 67 FR 54388 2525. PETITION TO ESTABLISH Period Extended AREA ‘‘YAMHILL–CARLTON DISTRICT’’ AS NPRM Comment 09/25/02 Priority: Substantive, Nonsignificant A NEW AMERICAN VITICULTURAL Period End Legal Authority: 27 USC 205 AREA Final Action 09/00/04 CFR Citation: Priority: Substantive, Nonsignificant Final Action Effective 10/00/04 27 CFR 9 Legal Deadline: None Legal Authority: 27 USC 205 Regulatory Flexibility Analysis Required: No Abstract: TTB received a petition to CFR Citation: 27 CFR 9 Small Entities Affected: Businesses establish the Salado Creek viticultural Legal Deadline: None area in Stanislaus County, California. Government Levels Affected: None Abstract: TTB has received a petition The proposed 2,940-acre viticultural proposing the establishment of the Additional Information: Transferred area is about 75 miles east-southeast of ‘‘Yamhill-Carlton District’’ viticultural from RIN 1512-AC10 San Francisco and 18 miles southwest area. The proposed area falls within the URL For Public Comments: of Modesto. The notice of proposed approved boundaries of the Willamette www.ttb.gov/foia/nprmlcomments/ rulemaking is in Main Treasury review. Valley viticultural area in northwest notice946lcomments.htm Timetable: Oregon. Draft final ruling is being Agency Contact: Charles N. Bacon, Action Date FR Cite prepared. Program Manager, Department of the NPRM 10/30/03 Timetable: Treasury, Alcohol and Tobacco Tax and NPRM Comment 12/29/03 68 FR 61776 Action Date FR Cite Trade Bureau, P.O. Box 5056, Beverly Period End Farms, MA 01915 Final Action 07/00/04 NPRM 10/07/03 68 FR 57845 Phone: 978 921–1840 NPRM Comment 12/08/03 Fax: 978 921–1840 Regulatory Flexibility Analysis Period End Email: [email protected] Required: No Final Action 12/00/04 RIN: 1513–AA60 Small Entities Affected: No Regulatory Flexibility Analysis Government Levels Affected: None Required: No 2527. PETITION TO ESTABLISH Agency Contact: Nancy Sutton, AVA Small Entities Affected: No ‘‘MCMINNVILLE’’ AS AN AMERICAN Coordinator, Department of the Government Levels Affected: None VITICULTURAL AREA IN OREGON Treasury, Alcohol and Tobacco Tax and Trade Bureau, Room 5000, Room 200E, Additional Information: Transferred Priority: Substantive, Nonsignificant 1310 G Street NW., Washington, DC from RIN 1512-AD04 Legal Authority: 27 USC 205 20220 Agency Contact: Nancy Sutton, AVA CFR Citation: 27 CFR 9 Phone: 202 927–8210 Coordinator, Department of the Fax: 202 927–8525 Legal Deadline: None Treasury, Alcohol and Tobacco Tax and Email: [email protected] Abstract: TTB has received a petition Trade Bureau, Room 5000, Room 200E, RIN: 1513–AA69 1310 G Street NW., Washington, DC proposing ‘‘McMinnville’’ as a new 20220 American viticultural area in Oregon. Phone: 202 927–8210 Timetable: 2529. PETITION TO ESTABLISH Fax: 202 927–8525 ‘‘SOUTHERN OREGON’’ AS A Email: [email protected] Action Date FR Cite VITICULTURAL AREA RIN: 1513–AA59 NPRM 06/27/03 68 FR 38248 Priority: Substantive, Nonsignificant NPRM Comment 08/26/03 Period End Legal Authority: 27 USC 205 2526. LABELING AND ADVERTISING Final Action 07/00/04 CFR Citation: 27 CFR 9 OF MALT BEVERAGES Regulatory Flexibility Analysis Legal Deadline: None Priority: Substantive, Nonsignificant Required: No Abstract: TTB proposes to establish the Legal Authority: 27 USC 205 Small Entities Affected: No Southern Oregon viticultural area in
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TREAS—TTB Final Rule Stage
portions of Douglas, Jackson, and Email: [email protected] in this document reflect the National Josephine Counties in southwestern Related RIN: Previously reported as Toxicology Program’s revised findings Oregon. A final rule is in TTB review. 1512–AC81 about saccharin and the removal of the statutory requirement for the warning. Timetable: RIN: 1513–AA75 Action Date FR Cite Timetable: NPRM 09/18/03 68 FR 54696 2530. • REMOVAL OF REQUIREMENT Action Date FR Cite NPRM Comment 11/17/03 TO DISCLOSE SACCHARIN IN THE Final Action 07/00/04 Period End LABELING OF WINE, DISTILLED Final Action 09/00/04 SPIRITS AND MALT BEVERAGE Regulatory Flexibility Analysis Required: No Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant Small Entities Affected: No Required: No Legal Authority: 27 USC 205 Small Entities Affected: No CFR Citation: 27 CFR 4; 27 CFR 5; 27 Government Levels Affected: None Government Levels Affected: None CFR 7 Agency Contact: Lisa M. Gesser, TTB Specialist, Department of the Treasury, Agency Contact: Nancy Sutton, AVA Legal Deadline: None Alcohol and Tobacco Tax and Trade Coordinator, Department of the Abstract: This final rule amends the Bureau, P.O. Box 128, Morganza, MD Treasury, Alcohol and Tobacco Tax and Alcohol and Tobacco Tax and Trade 20660 Trade Bureau, Room 5000, Room 200E, Bureau’s labeling regulations to remove Phone: 301 290–1460 1310 G Street NW., Washington, DC the requirement for bottlers of beer, Fax: 301 290–1463 20220 wine, and distilled spirits to show a Email: [email protected] Phone: 202 927–8210 warning on products containing Fax: 202 927–8525 saccharin. The regulatory amendments RIN: 1513–AA93
Department of the Treasury (TREAS) Long-Term Actions Alcohol and Tobacco Tax and Trade Bureau (TTB)
ALCOHOL 2532. EXPORTATION OF LIQUORS 2533. IMPLEMENTATION OF WINE CREDIT PROVISIONS OF PUBLIC LAW Priority: Substantive, Nonsignificant 104–188 2531. PROHIBITION OF ALCOHOL CFR Citation: 27 CFR 252 BEVERAGE CONTAINERS AND Priority: Substantive, Nonsignificant STANDARD OF FILL FOR DISTILLED Timetable: CFR Citation: 27 CFR 24.278; 27 CFR SPIRITS AND WINE Action Date FR Cite 24.279 Priority: Substantive, Nonsignificant ANPRM 09/08/92 57 FR 40887 Timetable: ANPRM Comment 10/08/92 CFR Citation: 27 CFR 4; 27 CFR 5; 27 Action Date FR Cite CFR 7 Period End ANPRM Comment 10/15/92 57 FR 47320 NPRM 06/02/97 62 FR 29681 Timetable: Period Extended Interim Final Rule 06/02/97 62 FR 29663 ANPRM Comment 12/07/92 Action Date FR Cite NPRM Comment 08/01/97 Period Extended Period End End NPRM 02/09/99 64 FR 6486 Final Action To Be Determined NPRM Comment 04/12/99 ANPRM 08/09/96 61 FR 41500 Period End ANPRM Comment 12/10/96 Regulatory Flexibility Analysis Revised 08/00/05 Period End Required: No NPRM–Aggregate NPRM 06/00/05 Packaging Government Levels Affected: None Revised 08/00/05 Regulatory Flexibility Analysis NPRM–Deceptive Required: No Agency Contact: Marjorie D. Ruhf Packaging Phone: 202 927–8210 Government Levels Affected: None Fax: 202 927–8525 Regulatory Flexibility Analysis Email: [email protected] Required: No Agency Contact: Joanne Brady Phone: 215 333–7050 RIN: 1513–AA05 Government Levels Affected: None Fax: 215 333–8871 Agency Contact: Lisa M. Gesser Email: [email protected] Phone: 301 290–1460 RIN: 1513–AA00 Fax: 301 290–1463 Email: [email protected] RIN: 1513–AA07
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TREAS—TTB Long-Term Actions
2534. IMPLEMENTATION OF PUBLIC Agency Contact: Marjorie D. Ruhf Timetable: Next Action Undetermined LAW 105–34, SECTION 1416, Phone: 202 927–8210 RELATING TO REFUND OF TAX FOR Fax: 202 927–8525 Regulatory Flexibility Analysis DOMESTIC WINE RETURNED TO Email: [email protected] Required: No BOND REGARDLESS OF RIN: 1513–AA08 Small Entities Affected: No MERCHANTABILITY (TAXPAYER RELIEF ACT OF 1997) Government Levels Affected: None Priority: Substantive, Nonsignificant 2536. PROHIBITED MARKS ON PACKAGES OF TOBACCO Agency Contact: Marjorie D. Ruhf CFR Citation: 27 CFR 24.66; 27 CFR PRODUCTS AND CIGARETTE PAPERS Phone: 202 927–8210 24.295; 27 CFR 24.312 AND TUBES IMPORTED OR Fax: 202 927–8525 Timetable: BROUGHT INTO THE UNITED STATES Email: [email protected] Action Date FR Cite Priority: Substantive, Nonsignificant RIN: 1513–AA15 Interim Final Rule To Be Determined CFR Citation: 27 CFR 275 Regulatory Flexibility Analysis Timetable: 2538. ELIMINATE REQUIREMENT TO Required: No Action Date FR Cite ENROLL TO PRACTICE BEFORE THE Small Entities Affected: No NPRM To Be Determined BUREAU Government Levels Affected: None Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant Agency Contact: Marjorie D. Ruhf Required: No Phone: 202 927–8210 CFR Citation: 31 CFR 8 Fax: 202 927–8525 Small Entities Affected: Businesses Timetable: Email: [email protected] Government Levels Affected: None RIN: 1513–AA06 Agency Contact: Linda Action Date FR Cite Wade–Chapman Final Action To Be Determined 2535. AMENDED STANDARD OF Phone: 202 927–8181 IDENTITY FOR SHERRY Fax: 202 927–8525 Regulatory Flexibility Analysis Required: Priority: Substantive, Nonsignificant Email: [email protected] No CFR Citation: 27 CFR 4 RIN: 1513–AA14 Small Entities Affected: No Timetable: Government Levels Affected: None 2537. REMOVAL OF REQUIREMENT Action Date FR Cite TO DISCLOSE SACCHARIN IN THE Agency Contact: Timothy P. DeVanney NPRM To Be Determined LABELING OF WINE, DISTILLED Phone: 202 927–8210 Regulatory Flexibility Analysis SPIRITS, AND MALT BEVERAGES Fax: 202 927–8525 Required: No Priority: Info./Admin./Other Email: [email protected] Small Entities Affected: No CFR Citation: 27 CFR 4.32(d); 27 CFR RIN: 1513–AA62 Government Levels Affected: None 5.32(b)(6); 27 CFR 7.22(b)(5)
Department of the Treasury (TREAS) Completed Actions Alcohol and Tobacco Tax and Trade Bureau (TTB)
2539. ALCOHOLIC CONTENT 2540. SAKE REGULATIONS Email: [email protected] LABELING FOR MALT BEVERAGES Priority: Substantive, Nonsignificant RIN: 1513–AA11 Priority: Substantive, Nonsignificant CFR Citation: Not Yet Determined CFR Citation: 27 CFR 7 2541. PETITION TO ESTABLISH Completed: Completed: ‘‘SENECA LAKE’’ AS AN AMERICAN Reason Date FR Cite Reason Date FR Cite VITICULTURAL AREA Withdrawn 04/29/04 Withdrawn 04/29/04 Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis Regulatory Flexibility Analysis CFR Citation: 27 CFR 9 Required: No Required: Undetermined Completed: Government Levels Affected: None Small Entities Affected: Businesses Reason Date FR Cite Agency Contact: Bernard J. Kipp Final Action 07/03/03 68 FR 39833 Phone: 503 356–1341 Government Levels Affected: None Regulatory Flexibility Analysis Fax: 503 356–8664 Agency Contact: Ramona Hupp Required: No Email: [email protected] Phone: 202 927–8210 RIN: 1513–AA01 Fax: 202 927–8602 Small Entities Affected: No
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TREAS—TTB Completed Actions
Government Levels Affected: None Regulatory Flexibility Analysis Completed: Agency Contact: Kristy Colon Required: No Reason Date FR Cite Phone: 202 927–8210 Small Entities Affected: No Final Action 10/10/03 68 FR 5860 Fax: 202 927–8525 Government Levels Affected: None Email: [email protected] Regulatory Flexibility Analysis Agency Contact: Nancy Sutton Required: RIN: 1513–AA34 No Phone: 202 927–8210 Government Levels Affected: Fax: 202 927–8525 None 2542. PETITION TO ESTABLISH Email: [email protected] Agency Contact: Lisa M. Gesser ‘‘BENNETT VALLEY’’ AS AN RIN: 1513–AA43 Phone: 301 290–1460 AMERICAN VITICULTURAL AREA Fax: 301 290–1463 Priority: Substantive, Nonsignificant Email: [email protected] 2545. PETITION TO ESTABLISH ‘‘OAK CFR Citation: 27 CFR 9 KNOLL DISTRICT’’ AS A NEW RIN: 1513–AA61 Completed: AMERICAN VITICULTURAL AREA 2548. PETITION NO. 1 TO EXPAND Reason Date FR Cite Priority: Substantive, Nonsignificant THE RUSSIAN RIVER VALLEY Final Action 10/30/03 68 FR 61745 CFR Citation: 27 CFR 9 VITICULTURAL AREA Completed: Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant Required: No Reason Date FR Cite CFR Citation: 27 CFR 9 Small Entities Affected: No Final Action 02/25/04 Completed: Government Levels Affected: None Final Action Effective 04/26/04 69 FR 8562 Reason Date FR Cite Agency Contact: Nancy Sutton Regulatory Flexibility Analysis Phone: 202 927–8210 Required: No Final Action 12/02/03 68 FR 67367 Fax: 202 927–8525 Small Entities Affected: No Regulatory Flexibility Analysis Email: [email protected] Government Levels Affected: None Required: No RIN: 1513–AA36 Agency Contact: Joanne Brady Small Entities Affected: No Phone: 215 333–7050 Government Levels Affected: None 2543. PETITION TO CHANGE THE Fax: 215 333–8871 TEMECULA VITICULTURAL AREA’S Email: [email protected] Agency Contact: Nancy Sutton NAME TO TEMECULA VALLEY Phone: 202 927–8210 RIN: 1513–AA48 Priority: Substantive, Nonsignificant Fax: 202 927–8525 Email: [email protected] CFR Citation: 27 CFR 9 2546. PETITION TO ESTABLISH Related RIN: Related to 1513–AA67 Completed: ‘‘SNAKE RIVER VALLEY’’ AS A NEW VITICULTURAL AREA RIN: 1513–AA68 Reason Date FR Cite Priority: Substantive, Nonsignificant Final Action 04/19/04 69 FR 20823 CFR Citation: 27 CFR 9 2549. EXPORTATION OF LIQUORS: Regulatory Flexibility Analysis RECODIFICATION OF REGULATIONS: Required: No Completed: ADMINISTRATIVE CHANGES DUE TO Small Entities Affected: No Reason Date FR Cite THE HOMELAND SECURITY ACT OF 2002 Government Levels Affected: None Withdrawn 05/07/04 Agency Contact: Nancy Sutton Regulatory Flexibility Analysis Priority: Info./Admin./Other Phone: 202 927–8210 Required: No CFR Citation: 27 CFR 28; 27 CFR 252 Fax: 202 927–8525 Small Entities Affected: No Email: [email protected] Completed: Government Levels Affected: None RIN: 1513–AA40 Reason Date FR Cite Agency Contact: Timothy P. DeVanney Final Action 01/27/04 69 FR 382 Phone: 202 927–8210 2544. PETITION TO ESTABLISH Fax: 202 927–8525 Regulatory Flexibility Analysis ‘‘COLUMBIA GORGE’’ AS A NEW Email: [email protected] Required: No AMERICAN VITICULTURAL AREA RIN: 1513–AA53 Small Entities Affected: No Priority: Substantive, Nonsignificant Government Levels Affected: None CFR Citation: 27 CFR 9 2547. ELECTRONIC SIGNATURES; Agency Contact: Lisa M. Gesser Completed: ELECTRONIC SUBMISSION OF Phone: 301 290–1460 Reason Date FR Cite FORMS TO TTB Fax: 301 290–1463 Email: [email protected] Final Action 05/10/04 69 FR 25831 Priority: Substantive, Nonsignificant Final Action Effective 07/09/04 CFR Citation: Not Yet Determined RIN: 1513–AA76
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TREAS—TTB Completed Actions
2550. EVIDENCE OF EXPORTATION Completed: Government Levels Affected: None FOR DISTILLED SPIRITS; USE OF Reason Date FR Cite Agency Contact: Joanne Brady ALTERNATIVE DOCUMENTATION Withdrawn 04/27/04 Phone: 215 333–7050 Fax: 215 333–8871 Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis Email: [email protected] Required: No CFR Citation: 27 CFR 252 RIN: 1513–AA78 Small Entities Affected: No BILLING CODE 4810—33—S
Department of the Treasury (TREAS) Proposed Rule Stage Comptroller of the Currency (OCC)
2551. RECORDKEEPING Abstract: This rulemaking would CFR part 9 to reflect changes in REQUIREMENTS FOR BANK require entities subject to the regulations adopted by the Securities EXCEPTIONS FROM SECURITIES jurisdiction of the OCC to establish and and Exchange Commission (SEC). BROKER OR DEALER REGISTRATION maintain accurate and complete Additionally, the rulemaking would Priority: Substantive, Nonsignificant documentation and records, and allow amend subpart O of 12 CFR part 19 the OCC timely access to such records. to combine current 12 CFR 19.240 and Legal Authority: 12 USC 93a; 12 USC The rulemaking would also provide 19.241 into one section. The 1828(t) that when a bank discloses documents rulemaking also would make a CFR Citation: Not Yet Determined and records to the OCC during the technical correction to the regulation supervisory process, such a disclosure governing debt cancellation contracts Legal Deadline: None is not voluntary and is not made to (DCC’s) and debt suspension Abstract: This joint rulemaking would an adversary. agreements (DSAs) in 12 CFR part 37. implement section 204 of the Gramm- Timetable: Timetable: Leach-Bliley Act. Section 204 directs the Federal banking agencies to Action Date FR Cite Action Date FR Cite establish recordkeeping requirements NPRM 12/00/04 NPRM 12/00/04 for banks relying on exceptions to the Regulatory Flexibility Analysis Regulatory Flexibility Analysis definitions of ‘‘broker’’ and ‘‘dealer’’ Required: No Required: No contained in paragraphs (4) and (5) of section 3(a) of the Securities Exchange Government Levels Affected: None Small Entities Affected: No Act of 1934. Agency Contact: Patrick T. Tierney, Government Levels Affected: None Attorney, Department of the Treasury, Timetable: Agency Contact: Patrick T. Tierney, Comptroller of the Currency, Legislative Attorney, Department of the Treasury, Action Date FR Cite and Regulatory Activities Division, 250 Comptroller of the Currency, Legislative E Street SW., Washington, DC 20219 NPRM 12/00/04 and Regulatory Activities Division, 250 Phone: 202 874–5090 E Street SW., Washington, DC 20219 Regulatory Flexibility Analysis Fax: 202 874–4889 Phone: 202 874–5090 Required: No Email: [email protected] Fax: 202 874–4889 Small Entities Affected: No RIN: 1557–AB99 Email: [email protected] Government Levels Affected: None RIN: 1557–AC79 Agency Contact: Martha Vestal Clarke, 2553. RULES, POLICIES, AND PROCEDURES FOR CORPORATE Counsel, Department of the Treasury, 2554. • IDENTITY THEFT DETECTION, ACTIVITIES; LICENSING Comptroller of the Currency, Legislative PREVENTION, AND MITIGATION PROCEDURES and Regulatory Activities Division, 250 PROGRAM FOR FINANCIAL E Street SW., Washington, DC 20219 Priority: Substantive, Nonsignificant INSTITUTIONS AND CREDITORS Phone: 202 874–5090 Fax: 202 874–4889 Legal Authority: 12 USC 1 et seq; 12 Priority: Substantive, Nonsignificant. Email: [email protected] USC 93a Major status under 5 USC 801 is CFR Citation: 12 CFR 4; 12 CFR 5; 12 undetermined. RIN: 1557–AB93 CFR 19; 12 CFR 37 Unfunded Mandates: Undetermined Legal Deadline: None 2552. MAINTENANCE OF RECORDS Legal Authority: 15 USC 1681 Abstract: This rulemaking would CFR Citation: 12 CFR 41 Priority: Substantive, Nonsignificant update certain provisions and make Legal Deadline: None Legal Authority: 12 USC 1 et seq; 12 technical changes to OCC rules USC 93a; 12 USC 481; 12 USC 484; governing corporate activities. The Abstract: The OCC, Board of Governors 12 USC 1818 rulemaking would make technical of the Federal Reserve System, the changes to certain provisions in 12 CFR Federal Deposit Insurance Corporation, CFR Citation: 12 CFR 7 part 4 to reflect the OCC’s recent the Office of Thrift Supervision, the Legal Deadline: None organizational restructing and to 12 National Credit Union Administration,
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TREAS—OCC Proposed Rule Stage
and the Federal Trade Commission (the 2555. • FAIR CREDIT; AFFILIATE 2556. • IMPLEMENTATION OF A Agencies) are considering issuing a MARKETING REGULATIONS REVISED BASEL CAPITAL ACCORD joint rulemaking to establish guidelines Priority: Substantive, Nonsignificant (BASEL II) and regulations to implement section Legal Authority: 12 USC 1 et. seq; 12 Priority: Substantive, Nonsignificant. 114 of the Fair and Accurate Credit USC 24 (seventh); 12 USC 93a; 12 USC Major status under 5 USC 801 is Transactions Act of 2003. Section 114 481; 12 USC 484; 12 USC 1818; 15 USC undetermined. requires the Agencies to jointly issue 1681a; 15 USC 1681b; 15 USC 1681s guidelines for financial institutions and Legal Authority: 12 USC 93a; 12 USC CFR Citation: 12 CFR 41 creditors identifying patterns, practices, 3907 and specific forms of activity, that Legal Deadline: Other, Statutory, CFR Citation: 12 CFR 3 indicate the possible existence of August 6, 2004, See Section 214 of the identity theft. In addition, the Agencies FACT Act, PL 108–159. Legal Deadline: None must issue regulations requiring each Abstract: The OCC, along with the Abstract: As part of the OCC’s ongoing financial institution and creditor to Board of Governors of the Federal efforts to develop and refine capital establish reasonable policies and Reserve System, the Federal Deposit standards to ensure the safety and procedures to implement the Insurance Corporation, the Office of the soundness of the national banking guidelines. The regulations must Thrift Supervision, the National Credit system and to implement statutory contain a provision requiring a card Union Administration, and the Federal requirements, the OCC is amending issuer to notify the cardholder if the Trade Commission are planning to various provisions of the capital rules card issuer receives a notice of change issue a rulemaking that would for national banks. This change of address for an existing account, and implement the affiliate-sharing involves the implementation of the new provisions of section 214 of the Fair a short time later receives arequest for Basel capital accord (Basel II) (formerly and Accurate Credit Transactions Act an additional or replacement card. referred to as domestic capital (FACT Act). The regulations would framework). The OCC is conducting Timetable: implement the consumer notice and this rulemaking jointly with the other opt-out provisions of the FACT Act Federal banking agencies. Action Date FR Cite regarding the sharing of consumer Timetable: NPRM 08/00/04 information among affiliates for marketing purposes. Action Date FR Cite Regulatory Flexibility Analysis Timetable: NPRM 12/00/04 Required: Undetermined Action Date FR Cite Regulatory Flexibility Analysis Government Levels Affected: NPRM 07/00/04 Required: No Undetermined Final Action 08/00/04 Government Levels Affected: None Federalism: Undetermined Regulatory Flexibility Analysis Required: No Agency Contact: Ron Shimabukuro, Special Counsel, Department of the Agency Contact: Deborah Katz, Senior Government Levels Affected: None Counsel, Department of the Treasury, Treasury, Comptroller of the Currency, Comptroller of the Currency, Legislative Agency Contact: Patrick T. Tierney, Legislative and Regulatory Activities and Regulatory Activities Divison, 250 Attorney, Department of the Treasury, Division, 250 E Street SW., E Street SW., Washington, DC 20219 Comptroller of the Currency, Legislative Washington, DC 20219 and Regulatory Activities Division, 250 Phone: 202 874–5090 Phone: 202 874–5090 E Street SW., Washington, DC 20219 Fax: 202 874–4889 Fax: 202 874–4889 Phone: 202 874–5090 Email: [email protected] Email: [email protected] Fax: 202 874–4889 Email: [email protected] Related RIN: Split from 1557–AB14 RIN: 1557–AC87 RIN: 1557–AC88 RIN: 1557–AC91
Department of the Treasury (TREAS) Final Rule Stage Comptroller of the Currency (OCC)
2557. COMMUNITY REINVESTMENT CFR Citation: 12 CFR 25 adversely affect a national bank’s ACT REGULATION (12 CFR 25) Legal Deadline: None assigned CRA rating. The proposed Priority: Substantive, Nonsignificant amendment also would address the Abstract: The OCC is considering regulatory burden imposed on smaller Legal Authority: 12 USC 21; 12 USC revising certain provisions of its rules national banks by revising the 22; 12 USC 26; 12 USC 27; 12 USC implementing the Community eligibility requirements for CRA 30; 12 USC 36; 12 USC 93a; 12 USC Reinvestment Act (CRA). The proposed evaluation underthe small bank 161; 12 USC 215; 12 USC 215a; 12 USC amendment would clarify the performance standards. 481; 12 USC 1814; 12 USC 1816; 12 circumstances where discriminatory, USC 1828(c); 12 USC 1835a; 12 USC other illegal, or abusive credit practices 2901 to 2907; 12 USC 3101 to 3111 by a national bank, or its affiliate, will
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TREAS—OCC Final Rule Stage
Timetable: Treasury, Comptroller of the Currency, Phone: 202 874–5090 Action Date FR Cite Legislative and Regulatory Activities Fax: 202 874–4889 Division, 250 E Street SW., Email: [email protected] ANPRM 07/19/01 66 FR 37602 Washington, DC 20219 RIN: 1557–AC75 ANPRM Comment 10/17/01 Phone: 202 874–5090 Period End Fax: 202 874–4889 NPRM 02/06/04 69 FR 5744 Email: [email protected] 2560. RISK–BASED CAPITAL; NPRM Comment 04/06/04 RIN: 1557–AC11 CAPITAL ADEQUACY GUIDELINES; Period End CAPITAL MAINTENANCE: INTERIM Final Action 07/00/04 CAPITAL TREATMENT OF Regulatory Flexibility Analysis 2559. ELECTRONIC FILING AND CONSOLIDATED ASSET–BACKED Required: No DISCLOSURE OF BENEFICIAL COMMERCIAL PAPER PROGRAM OWNERSHIP REPORTS Government Levels Affected: None ASSETS Priority: Substantive, Nonsignificant. Agency Contact: Patrick T. Tierney, Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is Attorney, Department of the Treasury, Major status under 5 USC 801 is undetermined. Comptroller of the Currency, Legislative undetermined. and Regulatory Activities Division, 250 Legal Authority: 12 USC 93a; 15 USC 78l; 15 USC 78p Legal Authority: 12 USC 93a; 12 USC E Street SW., Washington, DC 20219 3907 Phone: 202 874–5090 CFR Citation: 12 CFR 11 CFR Citation: 12 CFR 3 Fax: 202 874–4889 Legal Deadline: None Email: [email protected] Legal Deadline: Abstract: The Sarbanes-Oxley Act of None RIN: 1557–AB98 2002 made amendments to section Abstract: This is a joint rulemaking 16(a) of the Securities Exchange Act of undertaken by the OCC, the Federal 2558. RULES, POLICIES, AND 1934, which requires the filing of Reserve Board, the Federal Deposit PROCEDURES FOR CORPORATE beneficial ownership reports by Insurance Corporation, and the Office ACTIVITIES officers, directors, and principal of Thrift Supervision. This rulemaking shareholders of issuers of securities. Priority: Substantive, Nonsignificant would amend the risk-based capital The OCC administers and enforces standards by providing a treatment for Legal Authority: 12 USC 1 et seq; 12 section 16(a) with respect to officers, assets in asset-backed commercial USC 24a; 12 USC 24 (seventh); 12 USC directors, and principal shareholders of paper (ABCP) programs that are 93a; 12 USC 1818; 12 USC 3101 et seq national banks. Effective July 30, 2003, consolidated onto the balance sheets of CFR Citation: 12 CFR 5 the amendments required that sponsoring banks, bank holding beneficial ownership reports be filed Legal Deadline: None companies, and thrifts as a result of a electronically and posted on the recently issued accounting Abstract: This rulemaking would issuer’s corporate website if it has a interpretation, Financial Accounting require a national bank to obtain website. The rulemaking would require Standards Board Interpretation No. 46, approval of the OCC before two types that beneficial ownership reports filed Consolidation of Variable Interest of fundamental changes in the by officers, directors, and principal Entities (FIN 46). Specifically, the composition of a bank’s assets: 1) shareholders of national bank be filed capital treatment would allow changing the composition of all, or electronically pursuant to the sponsoring banking organizations to substantially all, of its assets through FDICconnect system and that the remove consolidated ABCP program sales or other dispositions, or 2) after reports be placed on the website of assets from their risk-weighted asset having sold or disposed of all or national banks that have websites. base for the purpose of calculating their substantially all of its assets, Timetable: risk-based capital ratios. RIN 1557- subsequently purchasing or otherwise AC77 will be merged into this RIN Action Date FR Cite acquiring assets. This rulemaking 1557-AC76 for purposes of the final would provide that, in the second case, Interim Final Rule 09/22/03 68 FR 54981 rule. the OCC will apply, among other Interim Final Rule 09/22/03 factors, thesame factors as it applies to Effective Timetable: the establishment of a de novo bank. Interim Final Rule 11/30/03 Action Date FR Cite Timetable: Comment Period End Interim Final Rule 10/01/03 68 FR 56530 Action Date FR Cite Final Action 07/00/04 Interim Final Rule 10/01/03 Effective NPRM 01/07/04 69 FR 892 Regulatory Flexibility Analysis Interim Final Rule 11/17/03 NPRM Comment 03/08/04 69 FR 893 Required: No Comment Period Period End Small Entities Affected: No End Final Action 07/00/04 Extension of Final 04/26/04 69 FR 22383 Government Levels Affected: None Regulatory Flexibility Analysis Rule Required: No Agency Contact: Martha Vestal Clarke, Final Action 07/00/04 Counsel, Department of the Treasury, Regulatory Flexibility Analysis Government Levels Affected: None Comptroller of the Currency, Legislative Required: No Agency Contact: Heidi M. Thomas, and Regulatory Activities Division, 250 Special Counsel, Department of the E Street SW., Washington, DC 20219 Government Levels Affected: None
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TREAS—OCC Final Rule Stage
Agency Contact: Ron Shimabukuro, and Regulatory Activities Division, 250 Government Levels Affected: None Special Counsel, Department of the E Street SW., Washington, DC 20219 Agency Contact: Jean Campbell, Senior Treasury, Comptroller of the Currency, Phone: 202 874–5090 Attorney, Department of the Treasury, Legislative and Regulatory Activities Fax: 202 874–4889 Comptroller of the Currency, Legislative Division, 250 E Street SW., Email: [email protected] and Regulatory Activities Division, 250 Washington, DC 20219 RIN: 1557–AC81 E Street SW., Washington, DC 20219 Phone: 202 874–5090 Phone: 202 874–5090 Fax: 202 874–4889 Fax: 202 874–4889 Email: [email protected] 2562. • RULES, POLICIES, AND Email: [email protected] PROCEDURES FOR CORPORATE Related RIN: Merged with 1557–AC77 ACTIVITIES; CIVIL MONETARY RIN: 1557–AC82 RIN: 1557–AC76 PENALTIES ADJUSTMENT Priority: Substantive, Nonsignificant 2563. • LENDING LIMITS PILOT PROGRAM 2561. • RULES, POLICIES, AND Legal Authority: 28 USC 2461 note PROCEDURES FOR CORPORATE Priority: Substantive, Nonsignificant. ACTIVITIES (OPERATING SUBSIDIARY CFR Citation: 12 CFR 19.240; 12 CFR Major status under 5 USC 801 is ANNUAL REPORT) 19.241 undetermined. Priority: Substantive, Nonsignificant. Legal Deadline: Final, Statutory, Legal Authority: 12 USC 1 et seq; 12 Major status under 5 USC 801 is December 11, 2004. USC 84; 12 USC 93a Adjustments must be made at least undetermined. CFR Citation: once every 4 years. 12 CFR 32 Legal Authority: 12 USC 1 et seq; 12 Legal Deadline: Abstract: None USC 93a; 12 USC 481 This rulemaking would adjust civil money penalties to account Abstract: This rulemaking would CFR Citation: 12 CFR 5.34 for inflation. The Federal Civil amend 12 CFR part 32, the OCC’s rule Legal Deadline: None Penalties Inflation Act of 1990 on lending limits, by extending the (Inflation Adjustment Act), as amended pilot program for residential real estate Abstract: This rulemaking would revise by the Debt Collection Improvement and small business loans. The program, the OCC’s rules governing national Act of 1996 (Debt Collection Act) which the OCC established in 2001, bank operating subsidiaries. The requires federal agencies with authority provides new exceptions to the lending rulemaking would require a national to administer civil money penalties limit for 1-4 family residential real bank to file an annual report with the (CMPs) to publish regulations to adjust estate loans and loans to small OCC that identifies its operating each CMP. The purpose of these business. Under the program, eligible subsidiaries that do business with adjustments is to maintain the deterrent national banks with main offices consumers and are not otherwise effect of CMPs and to promote located in states that have a lending functionally regulated subsidiaries compliance with the law. The Debt limit available for residential real under section 5(c)(5) of the Bank Collection Act provides detailed estate, small business, or unsecured Holding Company Act of 1956, as instructions on the manner in which loans that is higher than the current amended. The proposed annual filing the inflation adjustment shall be Federal limit, may apply to take part would contain the name of each calculated. The Inflation Adjustment in the pilot and make use of its reportable operating subsidiary, its state Act requires adjustment to be made at exceptions. Federal lending limits are of incorporation, and a brief description least once every four years following set forth at 12 U.S.C. 84, which governs of its activities. The OCC would then the initial adjustment. The OCC’s prior the percentage of capital and surplus make this information available to the adjustment to each CMP was published that a bank may loan to any one public on its Internet Web page. The in the Federal Register on December 11, borrower. While the pilot program has OCC anticipates that this rulemaking 2000 (65 FR 77250) and became operated in a safe and sound manner, would not have a significant impact on effective that same day. Accordingly, the OCC needs additional data to national banks. this final rule must be effective no later determine whether to retain, modify, or Timetable: than December 11, 2004. rescind the lending limits exceptions. The pilot program will expire on June Action Date FR Cite Because the Debt Collection Act 11, 2004, with lending authority NPRM 03/25/04 69 FR 15260 provides the OCC with no discretion granted pilot banks before that date NPRM Comment 04/26/04 in calculating the amount of the civil expiring on September 10, 2004. The Period End money penalty adjustment, notice and rulemaking would extend the pilot for Final Action 07/00/04 comment are unnecessary. Accordingly, an additional three years to collect the changes to the regulation will be additional data. Regulatory Flexibility Analysis issued as a final rule. Required: No Timetable: Timetable: Government Levels Affected: Action Date FR Cite Action Date FR Cite Undetermined NPRM 04/23/04 69 FR 21978 Federalism: Undetermined Final Action 10/00/04 Final Action 09/00/04 Agency Contact: Patrick T. Tierney, Regulatory Flexibility Analysis Regulatory Flexibility Analysis Attorney, Department of the Treasury, Required: No Required: No Comptroller of the Currency, Legislative Small Entities Affected: No Small Entities Affected: No
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TREAS—OCC Final Rule Stage
Government Levels Affected: None Email: [email protected] and Regulatory Activities Division, 250 Agency Contact: Mitchell Plave, RIN: 1557–AC84 E Street SW., Washington, DC 20219 Counsel, Department of the Treasury, Phone: 202 874–5090 Comptroller of the Currency, Legislative Fax: 202 874–4889 2565. • FAIR CREDIT REPORTING and Regulatory Activities Division, 250 Email: [email protected] REGULATIONS; USE OF MEDICAL E Street SW., Washington, DC 20219 RIN: 1557–AC85 INFORMATION; FACT ACT Phone: 202 874–5090 Fax: 202 874–4889 Priority: Substantive, Nonsignificant. 2566. • COMMUNITY REINVESTMENT Email: [email protected] Major status under 5 USC 801 is undetermined. ACT REGULATIONS RIN: 1557–AC83 Legal Authority: 12 USC 1 et seq; 12 Priority: Substantive, Nonsignificant. USC 24(seventh); 12 USC 93a; 12 USC Major status under 5 USC 801 is 2564. • PROPER DISPOSAL OF 481; 12 USC 484; 12 USC 1818; 15 USC undetermined. CONSUMER INFORMATION 1681a; 15 USC 1681(b); 15 USC 1681(s) Legal Authority: 12 USC 21; 12 USC Priority: Substantive, Nonsignificant CFR Citation: 12 CFR 41 22; 12 USC 26; 12 USC 27; 12 USC 30; 12 USC 36; 12 USC 93a; 12 USC Legal Authority: 15 USC 1681s(b); 15 Legal Deadline: None USC 1681w 161; 12 USC 215; 12 USC 215a; 12 USC Abstract: The OCC, in conjunction 481; 12 USC 1814; 12 USC 1816; 12 CFR Citation: 12 CFR 30 app B; 12 with the Board of Governors of the USC 1828c; 12 USC 1835a; 12 USC CFR 41 Federal Reserve System, the Federal 2901 to 2907; 12 USC 3101 to 3111 Deposit Insurance Corporation, the Legal Deadline: Final, Statutory, CFR Citation: 12 CFR 25 December 4, 2004, 15 USC 1681w. Office of Thrift Supervision, and the 15 USC 1681W requires the banking National Credit Union Administration Legal Deadline: None agencies to issue final rules no later (agencies) are considering a joint Abstract: The OCC, Board of Governors than one year after date of enactment rulemaking to implement section 411 of the Federal Reserve (Board), the of the statute. of the Fair and Accurate Credit Federal Deposit Insurance Corporation, Transactions Act of 2003 (FACT Act). Abstract: The OCC together with the and the Office of Thrift Supervision Section 411(a) requires the agencies to (the banking agencies) are considering Board of Governors of the Federal prescribe regulations that permit Reserve System, Federal Deposit issuing a joint rulemaking to conform creditors to obtain or use medical the banking agencies regulations Insurance Corporation, and the Office information for certain credit eligibility of the Thrift Supervision, (the banking implementing the Community purposes. Additionally, section 411(b) Reinvestment Act (CRA) to changes in: agencies), are issuing a joint rulemaking restricts the sharing of medical to implement section 216 of the Fair the Standards for Defining Metropolitan information and related lists or and Micropolitan Statistical Areas and Accurate Credit Transactions Act descriptions with affiliates. However, it of 2003. Section 216 requires the published by the U.S. Office of permits sharing of experience Management and Budget (OMB) in banking agencies, the National Credit information among affiliates and Union Administration, the Securities December 2000; census tracts sharing other information among designated by theU.S. Bureau of the and Exchange Commission, and the affiliates after providing the consumer Federal Trade Commission to adopt Census (Census); and the Board’s notice and an opportunity to op-out. Regulation C (12 CFR part 203), which consistent and comparable regulations, Finally, section 411(b) authorizes the to the extent possible, requiring entities implements the Home Mortgage agencies to issue rules to allow Disclosure Act (HMDA). The agencies subject to their jurisdiction to properly additional sharing of information dispose of consumer information as a also would make a technical correction determined by the agencies to be to an incorrect cross-reference within means to reduce the risk of identity appropriate or necessary. This theft. the CRA regulations. This rulemaking rulemaking would establish for OCC a is technical in nature and will make Timetable: new 12 CFR part 41, Fair Credit no substantive changes in the Regulations, to implement the FACT Action Date FR Cite requirements of the CRA regulations Act and to allow certain sharing of because the changes made by OMB, NPRM 06/08/04 69 FR 31913 medical information. Census, and the Board already have Final Action 12/00/04 Timetable: become effective. Beginning January 1, Regulatory Flexibility Analysis Action Date FR Cite 2004, financial institutions had to use Required: No OMB’s statistical area standards, NPRM 04/28/04 69 FR 23380 Small Entities Affected: No Census’ geographies, and the Board’s Final Action 07/00/04 Regulation C when adjusting Government Levels Affected: None Regulatory Flexibility Analysis assessment area delinations and Agency Contact: Deborah Katz, Senior Required: No collecting CRA loan data. This rule simply conforms regulations to current Counsel, Department of the Treasury, Small Entities Affected: No Comptroller of the Currency, Legislative practices. Government Levels Affected: None and Regulatory Activities Divison, 250 Timetable: E Street SW., Washington, DC 20219 Agency Contact: Patrick T. Tierney, Phone: 202 874–5090 Attorney, Department of the Treasury, Action Date FR Cite Fax: 202 874–4889 Comptroller of the Currency, Legislative Interim Rule 07/00/04
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TREAS—OCC Final Rule Stage
Regulatory Flexibility Analysis 2567. • SECURITIES BORROWING this rulemaking jointly with the other Required: No TRANSACTIONS Federal banking agencies. Timetable: Small Entities Affected: No Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is Action Date FR Cite Government Levels Affected: None undetermined. Final Action 12/00/04 Legal Authority: 12 USC 93a; 12 USC Agency Contact: Margaret Hesse, Regulatory Flexibility Analysis 161; 12 USC 1828 note; 12 USC Special Counsel, Department of the Required: No Treasury, Comptroller of the Currency, 1828(n); 12 USC 1831n note; 12 USC Community and Consumer Law 1835; 12 USC 3907; 12 USC 3909 Small Entities Affected: No Division, 250 E Street SW, Washington, CFR Citation: 12 CFR 3 Government Levels Affected: None DC 20219 Legal Deadline: None Agency Contact: Ron Shimabukuro, Phone: 202 874–5750 Special Counsel, Department of the Fax: 202 874–5322 Abstract: As part of the OCC’s ongoing Treasury, Comptroller of the Currency, Email: [email protected] efforts to develop and refine capital Legislative and Regulatory Activities standards to ensure the safety and Division, 250 E Street SW., RIN: 1557–AC86 soundness of the national banking Washington, DC 20219 system and to implement statutory Phone: 202 874–5090 requirements, the OCC is amending Fax: 202 874–4889 various provisions of the capital rules Email: [email protected] for national banks. The change involves changes to securities borrowing Related RIN: Split from 1557–AB14 transactions. The OCC is conducting RIN: 1557–AC90
Department of the Treasury (TREAS) Long-Term Actions Comptroller of the Currency (OCC)
2568. FAIR CREDIT REPORTING Timetable: Legal Deadline: None REGULATIONS Action Date FR Cite Abstract: The OCC, along with the Priority: Substantive, Nonsignificant ANPRM 12/30/03 68 FR 75164 other Federal Banking Agencies, the CFR Citation: 12 CFR 41 ANPRM Comment 03/29/04 National Credit Union Administration, Timetable: Period End and the Federal Trade Commission, are NPRM To Be Determined considering issues under Section 312 of Action Date FR Cite Regulatory Flexibility Analysis the FACT Act relating to the accuracy and completeness of the information NPRM 10/20/00 65 FR 63120 Required: Undetermined NPRM Comment 12/04/00 furnished to a consumer reporting Period End Government Levels Affected: None agency and on reinvestigation NPRM Update 03/27/01 66 FR 16624 Federalism: Undetermined procedures. Second NPRM To Be Determined Agency Contact: Amy S. Friend Timetable: Regulatory Flexibility Analysis Phone: 202 874–5200 Action Date FR Cite Required: No Fax: 202 874–5374 Government Levels Affected: None Email: [email protected] NPRM To Be Determined Agency Contact: Lee Walzer Regulatory Flexibility Analysis Heidi M. Thomas Phone: 202 874–5090 Required: Phone: 202 874–5090 No Fax: 202 874–4889 Fax: 202 874–4889 Email: [email protected] Small Entities Affected: Businesses Email: [email protected] RIN: 1557–AB78 Government Levels Affected: None RIN: 1557–AC80 Agency Contact: Michael Bylsma, 2569. INTERAGENCY PROPOSAL TO Director, Community and Consumer 2570. • ACCURACY AND INTEGRITY CONSIDER ALTERNATIVE FORMS OF Law, Department of the Treasury, OF INFORMATION FURNISHED TO A PRIVACY NOTICES UNDER THE Comptroller of the Currency, 250 E CONSUMER REPORTING AGENCY GRAMM–LEACH–BLILEY ACT Street SW., Washington, DC 20219 Priority: Substantive, Nonsignificant. Priority: Substantive, Nonsignificant Phone: 202 874–5750 Major status under 5 USC 801 is Legal Authority: 15 USC 1681S–2; 12 Fax: 202 874–5322 undetermined. USC 93a Email: [email protected] CFR Citation: 12 CFR 40 CFR Citation: Not Yet Determined RIN: 1557–AC89
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Department of the Treasury (TREAS) Completed Actions Comptroller of the Currency (OCC)
2571. CAPITAL RULES 2572. RULES AND PROCEDURES FOR 2575. INTERAGENCY GUIDELINES Priority: Substantive, Nonsignificant CLAIMS AGAINST OCC–APPOINTED ESTABLISHING STANDARDS FOR RECEIVERSHIPS FOR UNINSURED SAFETY AND SOUNDNESS Legal Authority: 12 USC 93a; 12 USC FINANCIAL INSTITUTIONS 161; 12 USC 1828 note; 12 USC Priority: Substantive, Nonsignificant Priority: 1828(n); 12 USC 1831n note; 12 USC Substantive, Nonsignificant CFR Citation: 12 CFR 30 1835; 12 USC 3907; 12 USC 3909 CFR Citation: Not Yet Determined Completed: CFR Citation: 12 CFR 3 Completed: Reason Date FR Cite Legal Deadline: None Reason Date FR Cite Withdrawn 12/01/03 Abstract: As part of the OCC’s ongoing Withdrawn 04/30/04 Regulatory Flexibility Analysis efforts to develop and refine capital Regulatory Flexibility Analysis standards to ensure the safety and Required: No Required: No soundness of the national banking Government Levels Affected: None system and to implement statutory Government Levels Affected: None Agency Contact: Heidi M. Thomas requirements, the OCC is amending Agency Contact: Mitchell Plave Phone: 202 874–5090 various provisions of the capital rules Phone: 202 874–5090 Fax: 202 874–4889 for national banks. Specifically, these Fax: 202 874–4889 Email: [email protected] changes include: 1) new Basel capital Email: [email protected] RIN: 1557–AC08 accord (Basel II) (formerly referred to RIN: 1557–AB59 as domestic capital framework); and 2) securities borrowing transactions. The 2576. REPORTING AND DISCLOSURE OCC is conducting both of these 2573. RULES, POLICIES, AND REQUIREMENTS FOR NATIONAL rulemakings jointly with the other PROCEDURES FOR CORPORATE BANKS WITH SECURITIES Federal banking agencies. ACTIVITIES AND BANK ACTIVITIES REGISTERED UNDER THE Timetable: AND OPERATIONS SECURITIES EXCHANGE ACT OF Action Date FR Cite Priority: Substantive, Nonsignificant 1934; SECURITIES OFFERING CFR Citation: DISCLOSURE RULES Actions Will Continue 06/01/04 12 CFR 3; 12 CFR 5 to Under Separate 7; 12 CFR 9; 12 CFR 28; 12 CFR 34 Priority: Substantive, Nonsignificant Rulemakings Completed: CFR Citation: 12 CFR 11; 12 CFR 16 Implementation of a Revised Basel Capital Accord (formerly Domestic Capital Reason Date FR Cite Completed: Framework) (1557–AC48) Final Rule 12/17/03 68 FR 70122 Reason Date FR Cite ANPRM 11/03/00 (65 FR 66193) Final Rule Effective 01/16/04 ANPRM 08/04/03 (68 FR 45900) Final Rule 12/09/03 68 FR 68489 Merged With 1557-AC91 06/01/04 Regulatory Flexibility Analysis Final Rule Effective 01/08/04 Securities Borrowing Transactions Required: No Regulatory Flexibility Analysis (1557–AC39) Government Levels Affected: None Interim Final Rule 12/05/00 (65 FR 75856) Required: No Agency Contact: Interim Final Rule Comment Period End Andra Shuster Government Levels Affected: None 01/19/01 Phone: 202 874–5090 Merged With 1557-AC90 05/13/04 Fax: 202 874–4889 Agency Contact: Maryann Orr Nash Regulatory Flexibility Analysis Email: [email protected] Phone: 202 874–5090 Fax: 202 874–4889 Required: No RIN: 1557–AB97 Email: [email protected] Government Levels Affected: None RIN: 1557–AC12 Agency Contact: Ron Shimabukuro, 2574. INTERNATIONAL BANKING Special Counsel, Department of the ACTIVITIES 2577. RULES, POLICIES, AND Treasury, Comptroller of the Currency, Priority: Substantive, Nonsignificant Legislative and Regulatory Activities PROCEDURES FOR CORPORATE Division, 250 E Street SW., CFR Citation: 12 CFR 28; 12 CFR 5 ACTIVITIES (ELECTRONIC FILINGS) Washington, DC 20219 Completed: Priority: Substantive, Nonsignificant Phone: 202 874–5090 Reason Date FR Cite Fax: 202 874–4889 CFR Citation: 12 CFR 5 Email: [email protected] Final Rule 12/19/03 68 FR 70691 Completed: Final Rule Effective 01/20/04 Reason Date FR Cite Laura Goldman, Senior Attorney, Regulatory Flexibility Analysis Department of the Treasury, Required: No Final Rule 01/02/04 69 FR 1 Comptroller of the Currency, Legislative Final Rule Effective 02/02/04 and Regulatory Activities Division, 250 Government Levels Affected: None Regulatory Flexibility Analysis E Street SW., Washington, DC 20219 Agency Contact: Lee Walzer Required: No Phone: 202 874–5090 Phone: 202 874–5090 Fax: 202 874–4889 Fax: 202 874–4889 Government Levels Affected: None Email: [email protected] Email: [email protected] Agency Contact: Jean Campbell RIN: 1557–AB14 RIN: 1557–AC04 Phone: 202 874–5090
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TREAS—OCC Completed Actions
Fax: 202 874–4889 2579. RISK–BASED CAPITAL; 2580. BANK ACTIVITIES AND Email: [email protected] CAPITAL ADEQUACY GUIDELINES; OPERATIONS RIN: 1557–AC13 CAPITAL MAINTENANCE: ASSET–BACKED COMMERCIAL Priority: Substantive, Nonsignificant. PAPER PROGRAMS AND EARLY Major status under 5 USC 801 is 2578. BANK ACTIVITIES AND AMORTIZATION PROVISIONS undetermined. OPERATIONS; REAL ESTATE LENDING AND APPRAISALS Priority: Substantive, Nonsignificant CFR Citation: 12 CFR 7 Priority: Substantive, Nonsignificant. CFR Citation: 12 CFR 3 Completed: Major status under 5 USC 801 is undetermined. Completed: Reason Date FR Cite CFR Citation: 12 CFR 7; 12 CFR 34 Reason Date FR Cite Final Rule 01/13/04 69 FR 1895 Final Rule Effective 02/12/04 Completed: NPRM 10/01/03 68 FR 56568 Reason Date FR Cite Merged With 04/30/04 Regulatory Flexibility Analysis 1557–AC76 Final Rule 01/13/04 69 FR 1904 Required: No Regulatory Flexibility Analysis Final Rule Effective 02/12/04 Government Levels Affected: State Regulatory Flexibility Analysis Required: No Federalism: Required: No Government Levels Affected: None Undetermined Government Levels Affected: State Agency Contact: Ron Shimabukuro Agency Contact: Andra Shuster Federalism: Undetermined Phone: 202 874–5090 Phone: 202 874–5090 Agency Contact: Andra Shuster Fax: 202 874–4889 Fax: 202 874–4889 Phone: 202 874–5090 Email: [email protected] Email: [email protected] Fax: 202 874–4889 RIN: Email: [email protected] Related RIN: Merged with 1557–AC76 1557–AC78 BILLING CODE 4830—01—S RIN: 1557–AC73 RIN: 1557–AC77
Department of the Treasury (TREAS) Prerule Stage Internal Revenue Service (IRS)
2581. COMMUNICATIONS EXCISE Treasury attorney: John Parcell (202) that deal with (1) the linking of TAX; TAXABLE COMMUNICATION 622-2578 borrowing to investment, or (2) SERVICES CC:PSI diminishing the risk through the use Priority: Substantive, Nonsignificant of related persons, pass-through Agency Contact: Cynthia A. McGreevy, entities, or other intermediaries. Legal Authority: 26 USC 4251; 26 USC Attorney–Advisor, Department of the Section 7701(f) was enacted to 7805 Treasury, Internal Revenue Service, authorize the issuance of regulations to 1111 Constitution Avenue NW, CFR Citation: 26 CFR 49 prevent the avoidance of the purposes Washington, DC 20224 of sections 265(a)(2) (which Legal Deadline: None Phone: 202 622–3130 disallowsinterest on indebtedness Abstract: This regulation provides a RIN: 1545–BB04 incurred or continued to purchase or definition of taxable communications carry tax-exempt obligations) and 246A services under section 4251. (which reduces the dividends received 2582. GUIDANCE REGARDING Timetable: deduction under sections 243, 244, or APPLICATION OF SECTION 265(A)(2) 245(a)) in proportion to the extent that Action Date FR Cite AND 246A IN TRANSACTIONS the portfolio stock with respect to INVOLVING RELATED PARTIES, ANPRM 12/00/04 which the dividends are received is PASS–THROUGH ENTITIES, OR debt-financed) through transactions Regulatory Flexibility Analysis OTHER INTERMEDIARIES involving related parties, pass-through Required: No Priority: Substantive, Nonsignificant entities, or other intermediaries. Small Entities Affected: No Legal Authority: 26 USC 7701(f); 26 Timetable: Government Levels Affected: USC 265(a); 26 USC 246A Action Date FR Cite Undetermined CFR Citation: 26 CFR 1 ANPRM 07/00/04 Additional Information: REG-137076-02 Legal Deadline: None Regulatory Flexibility Analysis Drafting attorney: Cynthia A. McGreevy Abstract: Section 7701(f) of the Code Required: No (202) 622-3130 provides that the Secretary shall Small Entities Affected: No Reviewing attorneys: Frank Boland prescribe such regulations as may be (202) 622-3130 and Phillip Howard necessary or appropriate to prevent the Government Levels Affected: None (202) 622-3000 avoidance of the provisions of the Code Additional Information: REG-128572-03
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TREAS—IRS Prerule Stage
Drafting attorney: Avital Grunhaus 2584. • DEEMED IRAS IN Government Levels Affected: None (202) 622-3940 GOVERNMENTAL PLANS/QUALIFIED Additional Information: REG-101447-04 NONBANK TRUSTEE RULES Reviewing attorney: David Silber (202) Drafting attorney: Linda L. Conway Priority: 622-3930 Substantive, Nonsignificant (202) 622-3051 Treasury attorneys: Michael Novey Legal Authority: 26 USC 408 Reviewing attorney: Janet A. Laufer (202) 622-1339 and Viva Hammer (202) CFR Citation: 26 CFR 1 (202) 622-6090 622-0869 Legal Deadline: None Treasury attorney: W. Thomas Reeder Agency Contact: Avital Grunhaus, (202) 622-1341 Attorney–Advisor, Department of the Abstract: Under IRS section 408(q), a Treasury, Internal Revenue Service, qualified employer plan (plans CC:TEGE 1111 Constitution Avenue NW., described in sections 401(a) of the Code, 403(a), 403(b), and governmental Agency Contact: Linda L. Conway, Washington, DC 20224 Attorney–Advisor, Department of the Phone: 202 622–3940 plans under section 457(b)) may permit employees to make voluntary employee Treasury, Internal Revenue Service, RIN: 1545–BC24 contributions to a ‘‘deemed IRA,’’ i.e., 1111 Constitution Avenue, NW, separate account or annuity established Washington, DC 20224 Phone: 202 622–6090 2583. • REGULATIONS GOVERNING under the plan. Generally, these THE PERFORMANCE OF ACTUARIAL accounts or annuities are treated as RIN: 1545–BD07 SERVICES UNDER THE EMPLOYEE IRAs pursuant to IRC section 408. Proposed regulations providing RETIREMENT INCOME SECURITY ACT 2585. • REMIC INTEREST–ONLY OF 1974 guidance with respect to section 408(q) were published in the Federal Register REGULAR INTERESTS Priority: Substantive, Nonsignificant on May 20, 2003, and the final Priority: Substantive, Nonsignificant Legal Authority: 29 USC 1241 regulations are expected to be Legal Authority: 26 USC 7805 CFR Citation: 20 CFR 901 published on or before March 31, 2004. Deemed IRAs must satisfy the CFR Citation: 26 CFR 1 Legal Deadline: None requirements of section 408(a) except Legal Deadline: None Abstract: Regulations governing the for the commingling requirements of Abstract: The advanced notice of performance of actuarial service under section 408(a)(5). Consistent with this proposed rulemaking describes rules the Employee Retirement Income general rule, section 1.408(q)-1(f)(1) of that the IRS and Treasury are Security Act of 1974 (ERISA). The the proposed regulations provides that considering regarding the proper timing regulations will cover the qualifications the trustee or custodian of an of income or deduction attributable to required for enrollment, continuing individual retirement account must be an interest only regular interest in a education requirements for enrolled a bank or an entity that received Real Estate Mortgage Investment actuaries, professional standards for the approval from the Commissioner to Conduit (REMIC). Under section performance of actuarial services under serve as a nonbank trustee, pursuant to 860B(a) of the Internal Revenue Code, ERISA, the grounds for disciplinary section 1.408-2(e) of the regulations. an interest only regular interest in a action against an enrolled actuary, and IRC section 1.408-2(e)(1) provides that REMIC (REMIC IO) is treated as a debt the procedures to be followed in taking an entity must demonstrate by written instrument. However, unlike traditional disciplinary actions. application that the requirements of debt instruments, the amount received paragraph (e)(2) to (e)(6) of that Timetable: by a holder of a REMIC IO may not regulation will be met in order to Action Date FR Cite exceed the holder’s initial investment. qualify as a nonbank trustee. The new As a result, REMIC IOs have presented ANPRM 12/00/04 regulation will provide that difficult and novel questions in the governmental entities need not Regulatory Flexibility Analysis application of the rules for original demonstrate that all of these Required: No issue discount, market discount, and requirements will be met with respect Small Entities Affected: No premium. The IRS and Treasury are to any deemed IRAs maintained by that therefore considering whether to Government Levels Affected: None governmental entity. The new prescribe regulations under the regulation will provide that a Additional Information: REG-159704-03 authority of section 1275(d), and the governmental entity must demonstrate Drafting attorney: Michael J. Roach other regulatory authority, with respect in writing to the satisfaction of the (202) 622-6090 to the tax treatment of REMIC IOs for Commissioner that the entity will both initial purchasers and secondary Treasury attorney: Harlan Weller (202) administer the trust in a manner that market purchasers. 622-1001 is consistent with the requirements of CC:TEGE section 408. Timetable: Agency Contact: Michael J. Roach, Timetable: Action Date FR Cite Attorney–Advisor, Department of the Action Date FR Cite ANPRM 08/00/04 Treasury, Internal Revenue Service, Regulatory Flexibility Analysis 1111 Constitution Avenue NW, ANPRM 07/00/04 Required: Washington, DC 20224 Regulatory Flexibility Analysis No Phone: 202 622–6090 Required: No Small Entities Affected: No RIN: 1545–BC82 Small Entities Affected: No Government Levels Affected: None
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TREAS—IRS Prerule Stage
Additional Information: REG-106679-04 Treasury attorney: Michael Novey (202) Treasury, Internal Revenue Service, Drafting attorney: Kathleen Sleeth (202) 622-1339 1111 Constitution Avenue NW, 622-3920 CC:FI Washington, DC 20224 Phone: 202 622–3920 Reviewing attorney: Dale Collinson Agency Contact: Kathleen Sleeth, (202) 622-3920 Attorney–Advisor, Department of the RIN: 1545–BD18
Department of the Treasury (TREAS) Proposed Rule Stage Internal Revenue Service (IRS)
2586. FOREIGN INSURANCE Legal Deadline: None transfer of assets to a foreign COMPANIES Abstract: This regulation relates to corporation in an exchange described Priority: Substantive, Nonsignificant branch rules and how to translate in section 361 is subject to section branch income, the taxation of 367(a)(1), unless certain ownership Legal Authority: 26 USC 7805; 26 USC requirements and other conditions are 842; 26 USC 864 exchange gain or loss on branch remittances. met. The regulations will provide CFR Citation: 26 CFR 1 guidance regarding the application of Timetable: this section. The change in the statute Legal Deadline: None Action Date FR Cite was necessitated by the repeal of Abstract: This regulation will prescribe ‘‘General Utilities.’’ rules for determining income from NPRM 09/25/91 56 FR 48457 Timetable: stocks effectively connected under the Second NPRM 12/00/04 asset use test with the conduct of an Regulatory Flexibility Analysis Action Date FR Cite insurance business in the United States Required: No NPRM 12/00/04 by a foreign company. Small Entities Affected: No Regulatory Flexibility Analysis Timetable: Government Levels Affected: None Required: No Action Date FR Cite Additional Information: REG-208270-86 Small Entities Affected: No NPRM 07/00/04 (INTL-965-86) Government Levels Affected: None Regulatory Flexibility Analysis Drafting attorney: Theodore D. Setzer Additional Information: REG-209006-89 Required: No (202) 622-3870 (INTL-089-89) Small Entities Affected: No Reviewing attorney: Jeffrey Dorfman (202) 622-3870 Drafting attorney: Tasheaya Warren Government Levels Affected: None Ellison (202) 622-3860 Treasury attorney: Andrew Froberg Additional Information: REG-209066-88 (202) 622-1779 Reviewing attorney: Charlie Besecky (INTL-024-88) (202) 622-3860 CC:INTL Drafting attorney: Sheila Ramaswamy CC:INTL (202) 622-3870 Agency Contact: Theodore D. Setzer, Attorney–Advisor, Department of the Agency Contact: Tasheaya Warren Reviewing attorney: Steven Jensen (202) Treasury, Internal Revenue Service, Ellison, Attorney–Advisor, Department 622-3870 1111 Constitution Avenue NW, of the Treasury, Internal Revenue Treasury attorney: Michael Caballero Washington, DC 20224 Service, 1111 Constitution Avenue NW, (202) 622-0851 Phone: 202 622–3870 Washington, DC 20224 Phone: 202 622–3860 CC:INTL RIN: 1545–AM12 RIN: 1545–AM97 Agency Contact: Sheila Ramaswamy, Attorney–Advisor, Department of the 2588. OUTBOUND TRANSFERS OF Treasury, Internal Revenue Service, PROPERTY TO FOREIGN 2589. FOREIGN INSURANCE 1111 Constitution Avenue NW, CORPORATIONS COMPANY—DOMESTIC ELECTION Washington, DC 20224 Priority: Priority: Substantive, Nonsignificant Phone: 202 622–3870 Substantive, Nonsignificant Legal Authority: Legal Authority: 26 USC 7805; 26 USC RIN: 1545–AL82 26 USC 7805; 26 USC 367 953 CFR Citation: 26 CFR 1 CFR Citation: 26 CFR 1 2587. COMPUTATION OF A BRANCH’S TAXABLE INCOME; TAXATION OF Legal Deadline: None Legal Deadline: None EXCHANGE GAIN OR LOSS ON Abstract: The income tax regulations Abstract: This regulation will provide BRANCH REMITTANCES under section 367(a) will be amended substantive and procedural rules Priority: Substantive, Nonsignificant to reflect the changes made to that regarding the election under section section by the Technical and 953(d) to treat certain controlled foreign Legal Authority: 26 USC 7805 Miscellaneous Corrections Act of 1988. corporations engaged in the insurance CFR Citation: 26 CFR 1 Section 367(a)(5) now provides that a business as domestic corporations.
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TREAS—IRS Proposed Rule Stage
Timetable: Treasury, Internal Revenue Service, requiring foreign corporations engaged Action Date FR Cite 1111 Constitution Avenue NW, in a U.S. business to provide specific Washington, DC 20224 information regarding related party NPRM 12/00/04 Phone: 202 622–3850 transactions. Regulatory Flexibility Analysis RIN: 1545–AO72 Timetable: Required: No Action Date FR Cite Small Entities Affected: No 2591. TAXATION OF GLOBAL NPRM 12/00/04 Government Levels Affected: None TRADING Regulatory Flexibility Analysis Additional Information: REG-208980-89 Priority: Substantive, Nonsignificant Required: No (INTL-765-89) Legal Authority: 26 USC 7805; 26 USC Small Entities Affected: No Drafting attorney: Valerie A. Mark- 864; 26 USC 482; 26 USC 863 Lippe (202) 622-3840 Government Levels Affected: None CFR Citation: 26 CFR 1 Reviewing attorney: Phyllis Marcus Additional Information: REG-208265-90 Legal Deadline: (202) 622-3840 None (INTL-102-90) Abstract: CC:INTL These regulations will Drafting attorney: Garrett D. Gregory improve the taxation of global trading. (202) 622-3870 Agency Contact: Valerie A. Mark–Lippe, Attorney–Advisor, Timetable: Reviewing attorney: Paul S. Epstein Department of the Treasury, Internal Action Date FR Cite (202) 622-3870 Revenue Service, 1111 Constitution ANPRM 08/28/90 55 FR 35152 Treasury attorney: Andrew Froberg Avenue NW, Washington, DC 20224 NPRM 03/06/98 63 FR 11177 (202) 622-1779 Phone: 202 622–3840 NPRM Comment 06/04/98 CC:INTL RIN: 1545–AO25 Period End Agency Contact: Hearing 07/14/98 Garrett D. Gregory, Second NPRM 12/00/04 Attorney–Advisor, Department of the 2590. FRINGE BENEFIT SOURCING Treasury, Internal Revenue Service, UNDER SECTION 861 Regulatory Flexibility Analysis 1111 Constitution Avenue NW, Required: No Priority: Substantive, Nonsignificant Washington, DC 20224 Small Entities Affected: No Phone: 202 622–3870 Legal Authority: 26 USC 7805; 26 USC 861 Government Levels Affected: None RIN: 1545–AP10 CFR Citation: 26 CFR 1 Additional Information: REG-208299-90 2593. INTEGRATED FINANCIAL Legal Deadline: None (INTL-70-90) TRANSACTION Abstract: This regulation will address Drafting attorney: Theodore D. Setzer Priority: Substantive, Nonsignificant the circumstances in which an (202) 622-3870 allocation of income of an individual Reviewing attorney: Paul S. Epstein Legal Authority: 26 USC 7805; 26 USC for the performance of services, both (202) 622-3870 864 within and outside the United States, Treasury attorney: Patricia Brown (202) CFR Citation: 26 CFR 1 is appropriately made only on the time 622-1781 basis. Legal Deadline: None CC:INTL Timetable: Abstract: The regulation addresses Agency Contact: Theodore D. Setzer, whether funding raised for a securities Action Date FR Cite Attorney–Advisor, Department of the dealing and/or trading operation, and NPRM 01/21/00 65 FR 3402 Treasury, Internal Revenue Service, whether matched book sale and Public Hearing 07/18/00 1111 Constitution Avenue NW, repurchase transactions conducted by Second NPRM 07/00/04 Washington, DC 20224 securities dealers qualify as integrated financial transactions under section Regulatory Flexibility Analysis Phone: 202 622–3870 1.861-10(c). Required: No RIN: 1545–AP01 Timetable: Small Entities Affected: No Action Date FR Cite Government Levels Affected: None 2592. INFORMATION REPORTING AND RECORD MAINTENANCE Additional Information: REG-208254-90 NPRM 12/00/04 (INTL-107-90) Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis Required: Drafting attorney: David F. Bergkuist Legal Authority: 26 USC 7805; 26 USC No (202) 622-3850 7801; 26 USC 6038C Small Entities Affected: No Reviewing attorney: Richard L. CFR Citation: 26 CFR 1 Government Levels Affected: None Chewning (202) 622-3850 Legal Deadline: None Additional Information: REG-209604-93 CC:INTL Abstract: This regulation will (INTL-001-93) Agency Contact: David F. Bergkuist, implement the directives of section Drafting attorney: Theodore D. Setzer Attorney–Advisor, Department of the 6038C. This will be accomplished by (202) 622-3870
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TREAS—IRS Proposed Rule Stage
Reviewing attorney: Paul S. Epstein Legal Deadline: None Small Entities Affected: No (202) 622-3870 Abstract: The proposed regulation Government Levels Affected: None Treasury attorney: Patricia Brown (202) makes the determination of when and 622-1781 how section 1503(d), treatment of dual Additional Information: REG-100841-97 consolidated losses, will apply to CC:INTL Drafting attorney: Frederick W. partnerships. Agency Contact: Theodore D. Setzer, Schindler (202) 622-3620 Attorney–Advisor, Department of the Timetable: Reviewing attorney: Lawrence Treasury, Internal Revenue Service, Action Date FR Cite Schattner (202) 622-3620 1111 Constitution Avenue NW, NPRM 12/00/04 Washington, DC 20224 CC:PA:CBS Phone: 202 622–3870 Regulatory Flexibility Analysis Required: Undetermined Agency Contact: Frederick W. RIN: 1545–AR20 Schindler, Attorney–Advisor, Government Levels Affected: None Department of the Treasury, Internal 2594. FOREIGN TRUSTS Additional Information: REG-209564-92 Revenue Service, 1111 Constitution REGULATIONS (INTL-037-92) Avenue NW, Washington, DC 20224 Phone: 202 622–3620 Priority: Substantive, Nonsignificant Drafting attorney: Kathryn T. Holman (202) 622-3860 Legal Authority: 26 USC 7805; 26 USC RIN: 1545–AU97 6048 Reviewing attorney: Michael H. Frankel (202) 622-3860 CFR Citation: 26 CFR 1 2597. SUBSTANTIATING TRAVEL Treasury attorney: Michael Caballero Legal Deadline: None EXPENSE DEDUCTIONS FOR (202) 622-0851 MEMBERS OF CONGRESS Abstract: This document revises CC:INTL regulations relating to certain foreign Priority: Substantive, Nonsignificant trusts under section 6048 of the Agency Contact: Kathryn T. Holman, Legal Authority: 26 USC 7805 Internal Revenue Code. Attorney–Advisor, Department of the Timetable: Treasury, Internal Revenue Service, CFR Citation: 26 CFR 1; 26 CFR 5 1111 Constitution Avenue NW, Action Date FR Cite Washington, DC 20224 Legal Deadline: None Phone: 202 622–3860 NPRM 12/00/04 Abstract: This regulation provides Regulatory Flexibility Analysis RIN: 1545–AR26 rules for the substantiation of Congress Required: No members’ travel expenses. The regulations are currently out of date Small Entities Affected: No 2596. AGREEMENTS FOR PAYMENT because the authorizing legislation was Government Levels Affected: None OF TAX LIABILITIES IN INSTALLMENTS subsequently repealed. Additional Information: REG-209594-92 Timetable: (INTL-067-92) Priority: Substantive, Nonsignificant Action Date FR Cite Drafting attorney: Karen Rennie (202) Legal Authority: 26 USC 6159; 26 USC 622-3880 7805 NPRM 12/00/04 Reviewing attorney: Elizabeth U. CFR Citation: 26 CFR 301 Regulatory Flexibility Analysis Karzon (202) 622-3880 Legal Deadline: None Required: No Treasury attorney: John Harrington Abstract: The regulations reflect the Small Entities Affected: No (202) 622-0589 amendment of I.R.C. section 6159, CC:INTL section 202 of the Taxpayer Bill of Government Levels Affected: None Rights 2, which provides that upon Agency Contact: Additional Information: REG-105513-97 Karen Rennie, Senior request by a taxpayer the Secretary Technical Reviewer, Department of the shall provide an independent review of Drafting attorney: Edwin B. Cleverdon Treasury, Internal Revenue Service, the termination of an installment (202) 622-7900 1111 Constitution Avenue NW, agreement. The regulations also reflect Washington, DC 20224 the amendment to section 6159(c), Reviewing attorney: Robert A. Phone: 202 622–3880 which guarantees the availability of Berkovsky (202) 622-4920 RIN: 1545–AR25 installment agreements to taxpayers in CC:ITA certain circumstances. Agency Contact: Edwin B. Cleverdon, 2595. TREATMENT OF DUAL Timetable: Attorney–Advisor, Department of the CONSOLIDATED LOSSES Action Date FR Cite Treasury, Internal Revenue Service, Priority: Substantive, Nonsignificant NPRM 12/31/97 62 FR 68241 1111 Constitution Avenue NW, Legal Authority: 26 USC 1503; 26 USC Second NPRM 12/00/04 Washington, DC 20224 Phone: 202 622–7900 7805 Regulatory Flexibility Analysis CFR Citation: 26 CFR 1 Required: No RIN: 1545–AV55
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TREAS—IRS Proposed Rule Stage
2598. FOREIGN TAX CREDIT Government Levels Affected: None Phone: 202 622–3880 ANTI–ABUSE REGULATION Additional Information: REG-106167-98 RIN: 1545–AX02 Priority: Substantive, Nonsignificant Drafting attorney: Taylor Cortright (202) Legal Authority: 26 USC 7805; 26 USC 622-3130 2601. DEFINITION OF ACCOUNTING 901; 26 USC 904; 26 USC 864; 26 USC Reviewing attorneys: Frank K. Boland METHOD 7701 (202) 622-3130 and Phillip Howard Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 (202) 622-3000 Legal Authority: 26 USC 7805; 26 USC Legal Deadline: None Treasury attorney: John Parcell (202) 446 622-2578 Abstract: The regulation will disallow CFR Citation: 26 CFR 1 foreign tax credits with respect to CC:PSI foreign taxes generated in certain Legal Deadline: None Agency Contact: Taylor Cortright, arrangements from which the Abstract: The regulation will clarify Attorney, Department of the Treasury, reasonably expected economic profits the definition of a change in the Internal Revenue Service, 1111 are insubstantial compared to expected method of accounting. Constitution Avenue NW., Washington, foreign tax credits. DC 20024 Timetable: Timetable: Phone: 202 622–3130 Action Date FR Cite Action Date FR Cite RIN: 1545–AW19 NPRM 12/00/04 NPRM 12/00/04 Regulatory Flexibility Analysis Regulatory Flexibility Analysis 2600. RULES FOR SOURCING Required: No Required: CERTAIN TRANSPORTATION No Small Entities Affected: No Small Entities Affected: No INCOME, SPACE, OR OCEAN ACTIVITY INCOME, AND RELATED Government Levels Affected: None Government Levels Affected: None FOREIGN BASE COMPANY SHIPPING Additional Information: REG-105228-99 Additional Information: REG-103445-98 INCOME Drafting attorney: Grant D. Anderson Drafting attorney: Bethany Ingwalson Priority: Substantive, Nonsignificant (202) 622-4930 (202) 622-3850 Legal Authority: 26 USC 7805 Reviewing attorney: Jeffrey G. Mitchell Reviewing attorney: Barbara A. Felker CFR Citation: 26 CFR 1 (202) 622-4930 (202) 622-3850 Legal Deadline: None Treasury attorney: Sharon Kay (202) CC:INTL 622-0865 Abstract: The regulation provides Agency Contact: Bethany Ingwalson, guidance to shipping and aircraft CC:ITA Senior Counsel, Department of the companies for application of the source Agency Contact: Grant D. Anderson, Treasury, Internal Revenue Service, rules for certain income under sections Attorney–Advisor, Department of the 1111 Constitution Avenue NW, 863(c) and 863(d), and for related space Treasury, Internal Revenue Service, Washington, DC 20224 or ocean activity income that is also 1111 Constitution Avenue NW, Phone: 202 622–3850 foreign-based company shipping Washington, DC 20224 RIN: 1545–AV97 income under section 954(f). Phone: 202 622–4930 Timetable: RIN: 1545–AX21 2599. TRANSPORTATION OF Action Date FR Cite PERSONS AND PROPERTY BY AIR NPRM 12/00/04 2602. INSPECTION OF WRITTEN Priority: Substantive, Nonsignificant DETERMINATIONS Regulatory Flexibility Analysis Legal Authority: 26 USC 4261; 26 USC Required: Undetermined Priority: Substantive, Nonsignificant 4271; 26 USC 7805 Government Levels Affected: None Unfunded Mandates: Undetermined CFR Citation: 26 CFR 1 Additional Information: REG-115557-98 Legal Authority: 26 USC 7805 Legal Deadline: None Drafting attorney: Patricia A. Bray (202) CFR Citation: 26 CFR 301 Abstract: The proposed regulations 622-3880 Legal Deadline: provide guidance concerning the excise None taxes imposed on the amounts paid for Reviewing attorney: Elizabeth Karzon Abstract: This regulation amends the transportation of persons and (202) 622-3880 Treasury Regulation section 301.6110- property by air. Treasury attorney: Carl Dubert (202) 1 to include Chief Counsel Advice. Timetable: 622-0222 Timetable: Action Date FR Cite CC:INTL Action Date FR Cite NPRM 12/00/04 Agency Contact: Patricia A. Bray, NPRM 12/00/04 Attorney–Advisor, Department of the Regulatory Flexibility Analysis Treasury, Internal Revenue Service, Regulatory Flexibility Analysis Required: No 1111 Constitution Avenue NW, Required: No Small Entities Affected: No Washington, DC 20224 Small Entities Affected: No
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TREAS—IRS Proposed Rule Stage
Government Levels Affected: None 1111 Constitution Avenue NW, Government Levels Affected: None Additional Information: REG-113129-98 Washington, DC 20224 Additional Information: REG-116053-99 Phone: 202 622–3847 Drafting attorney: Deborah Lambert- Drafting attorney: Robert W. Lorence RIN: Dean (202) 622-4570 1545–AX46 (202) 622-3860 Reviewing attorney: Donald Squires Reviewing attorney: Charles Besecky (202) 622-4570 2604. HIGHLY COMPENSATED (202) 622-3860 EMPLOYEE Treasury attorney: Eric San Juan (202) Treasury attorney: Michael Caballero 622-0224 Priority: Substantive, Nonsignificant (202) 622-0851 CC:PA:DPL Legal Authority: 26 USC 414 CC:INTL Agency Contact: Deborah C. CFR Citation: 26 CFR 1 Agency Contact: Robert W. Lorence, Lambert–Dean, Attorney–Advisor, Legal Deadline: None Senior Counsel, Department of the Treasury, Internal Revenue Service, Department of the Treasury, Internal Abstract: This regulations will provide Revenue Service, 1111 Constitution 1111 Constitution Avenue NW, the definition of highly compensated Washington, DC 20224 Avenue NW, Washington, DC 20224 employee. Phone: 202 622–4570 Phone: 202 622–3860 Fax: 202 622–9888 Timetable: RIN: 1545–AX77 RIN: 1545–AX40 Action Date FR Cite NPRM 12/00/04 2606. DEFINITION OF PASSIVE 2603. AWARDING OF COSTS AND Regulatory Flexibility Analysis FOREIGN INVESTMENT COMPANY CERTAIN FEES Required: No UNDER SECTION 1297 Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant Small Entities Affected: No Legal Authority: 26 USC 7805; 26 USC Legal Authority: 26 USC 7805; 26 USC Government Levels Affected: None 1297 7430 Additional Information: REG-111277-99 CFR Citation: 26 CFR 1 CFR Citation: 26 CFR 1 Drafting attorney: R. Lisa Mojiri-Azad Legal Deadline: None Legal Deadline: None (202) 622-6080 Abstract: This regulation defines a Abstract: The proposed amendments to Reviewing attorney: Marjorie Hoffman (202) 622-6030 passive foreign investment company the Treasury Regulations incorporate (PFIC) under section 1297(a) and the the 1997 and 1998 amendments to 26 CC:TEGE terms ‘‘passive income’’ and ‘‘passive U.S.C. 7430, relating to the awarding Agency Contact: R. Lisa Mojiri–Azad, asset’’ under section 1297(b). The of attorney’s fees in administrative and Senior Attorney, Department of the regulation will also set forth the court proceedings. The amendments to Treasury, Internal Revenue Service, exceptions to the terms ‘‘passive 26 U.S.C. 7430 were enacted under the 1111 Constitution Avenue NW, income’’ and ‘‘passive asset,’’ and Taxpayer Relief Act of 1997 and the Washington, DC 20224 provide guidance on the applicability IRS Restructuring and Reform Act of Phone: 202 622–6080 of the look-through rule under section 1998. RIN: 1545–AX48 1297(c), in cases involving PFICs that Timetable: own 25 percent or more of a lower- tier foreign subsidiary. In addition, the Action Date FR Cite 2605. MODIFICATION TO SECTION regulation will provide guidance NPRM 12/00/04 367(A) STOCK TRANSFER undersection 1297(e), regarding the Regulatory Flexibility Analysis REGULATIONS overlap rule between a controlled Required: No Priority: Substantive, Nonsignificant foreign corporation and a PFIC. Small Entities Affected: No Legal Authority: 26 USC 367 Timetable: Government Levels Affected: None CFR Citation: 26 CFR 1; 26 CFR 602 Action Date FR Cite Additional Information: REG-111833-99 Legal Deadline: None NPRM 12/00/04 Regulatory Flexibility Analysis Drafting attorney: Tami C. Belouin Abstract: This regulation will modify Required: (202) 622-3847 section 367(a), stock transfer No regulations, to address abuses under Small Entities Affected: No Reviewing attorneys: Susan T. Mosley check-the-box and through the use of Government Levels Affected: None (202) 622-7950 and Henry S. convertible stock. Schneiderman (202) 622-3400 Additional Information: REG-100427-00 Timetable: Treasury attorney: Julian Kim (202) Drafting attorney: Ethan A. Atticks 622-1981 Action Date FR Cite (202) 622-3840 CC:PA:APJ NPRM 12/00/04 Reviewing attorney: Valerie A. Mark Agency Contact: Tami C. Belouin, Regulatory Flexibility Analysis Lippe (202) 622-3840 Attorney–Advisor, Department of the Required: No Treasury attorney: Carl Dubert (202) Treasury, Internal Revenue Service, Small Entities Affected: No 622-0222
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TREAS—IRS Proposed Rule Stage
CC:INTL Legal Deadline: None Agency Contact: Jeffrey L. Vinnik, Agency Contact: Ethan A. Atticks, Abstract: The proposed regulations Attorney–Advisor, Department of the Attorney–Advisor, Department of the provide guidance on changes to the law Treasury, Internal Revenue Service, Treasury, Internal Revenue Service, for corporate estimated taxes. 1111 Constitution Avenue NW, Washington, DC 20224 1111 Constitution Avenue NW, Timetable: Washington, DC 20224 Phone: 202 622–3840 Phone: 202 622–3840 Action Date FR Cite RIN: 1545–AY30 RIN: 1545–AX78 NPRM 12/00/04 Regulatory Flexibility Analysis 2610. DOLLAR–VALUE LIFO Required: 2607. CLARIFICATION OF No Priority: Substantive, Nonsignificant FOREIGN–BASED COMPANY SALES Small Entities Affected: Businesses Legal Authority: 26 USC 472; 26 USC INCOME RULES Government Levels Affected: None 7805 Priority: Substantive, Nonsignificant Additional Information: REG-107722-00 CFR Citation: 26 CFR 1 Legal Authority: 26 USC 7805; 26 USC Drafting attorney: Joseph DeWald (202) Legal Deadline: None 954 622-4910 Abstract: This regulation will provide CFR Citation: 26 CFR 1 Reviewing attorney: Pamela W. Fuller guidance under the dollar-value last-in, Legal Deadline: None (202) 622-4910 first-out (LIFO) inventory method for Abstract: This regulation clarifies when Treasury attorney: George Manousos taxpayers that define LIFO items based a controlled foreign corporation cannot (202) 622-1335 on components of cost. exclude sales income from foreign- CC:PA:APJ Timetable: based company sales income under the manufacturing exception by reason of Agency Contact: Joseph P. Dewald, Action Date FR Cite activities of a contract manufacturer. Attorney–Advisor, Department of the NPRM 12/00/04 Likewise, the branch rule under IRC Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Regulatory Flexibility Analysis section 954(d)(2) does not apply to a Required: No contract manufacturer. Washington, DC 20224 Phone: 202 622–4910 Small Entities Affected: Businesses Timetable: RIN: 1545–AY22 Government Levels Affected: None Action Date FR Cite Additional Information: REG-107580-00 NPRM 12/00/04 2609. TAXABLE YEARS OF Drafting attorney: Scott H. Rabinowitz Regulatory Flexibility Analysis CONTROLLED FOREIGN (202) 622-4970 Required: No CORPORATIONS (CFCS) AND Reviewing attorney: Jeffery G. Mitchell Small Entities Affected: No FOREIGN PERSONAL HOLDING COMPANIES (FPHCS) (202) 622-4970 Government Levels Affected: None Treasury attorney: Sharon Kay (202) Priority: Substantive, Nonsignificant Federalism: Undetermined 622-0865 Legal Authority: Additional Information: REG-106356-00 26 USC 7805; 26 USC 898 CC:ITA Drafting attorney: Valerie A. Mark- Agency Contact: CFR Citation: 26 CFR 1 Scott H. Rabinowitz, Lippe (202) 622-3840 Attorney–Advisor, Department of the Reviewing attorney: Phyllis E. Marcus Legal Deadline: None Treasury, Internal Revenue Service, (202) 622-3840 Abstract: This regulation will provide 1111 Constitution Avenue NW, Washington, DC 20224 CC:INTL definitions and rules for determining the required year for CFCs and FPHCs. Phone: 202 622–4970 Agency Contact: Valerie A. RIN: 1545–AY39 Mark–Lippe, Attorney–Advisor, Timetable: Department of the Treasury, Internal Action Date FR Cite Revenue Service, 1111 Constitution NPRM 12/00/04 2611. SPECIAL RULES RELATING TO Avenue NW, Washington, DC 20224 TRANSFERS OF INTANGIBLES TO Phone: 202 622–3840 Regulatory Flexibility Analysis FOREIGN CORPORATIONS Required: No RIN: 1545–AX91 Priority: Substantive, Nonsignificant Small Entities Affected: No Legal Authority: 26 USC 7805; 26 USC 2608. GUIDANCE ON CHANGES TO Government Levels Affected: None 367 THE LAWS FOR CORPORATE Additional Information: REG-108523-00 CFR Citation: 26 CFR 1 ESTIMATED TAXES Drafting attorney: Jeffrey L. Vinnik Legal Deadline: None Priority: Substantive, Nonsignificant (202) 622-3840 Abstract: The regulations will address Legal Authority: 26 USC 7805; 26 USC Reviewing attorney: Phyllis Marcus the income tax consequences relating 6655 (202) 622-3840 to the transfer of intangibles to foreign CFR Citation: Not Yet Determined CC:INTL corporations.
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TREAS—IRS Proposed Rule Stage
Timetable: Treasury, Internal Revenue Service, 2614. LIABILITIES ASSUMED IN Action Date FR Cite 1111 Constitution Avenue NW, CERTAIN CORPORATE Washington, DC 20224 TRANSACTIONS NPRM 12/00/04 Phone: 202 622–3840 Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis RIN: 1545–AY54 Legal Authority: Required: No 26 USC 357 Small Entities Affected: CFR Citation: 26 CFR 1 No 2613. NORMAL RETIREMENT AGE Legal Deadline: None Government Levels Affected: None FOR PENSION PLANS Abstract: Federalism: Undetermined These proposed regulations Priority: Substantive, Nonsignificant. relate to the assumption of liabilities Additional Information: REG-106877-00 Major status under 5 USC 801 is in certain corporate transactions under undetermined. Drafting attorney: Thomas D. Beem section 357 of the Internal Revenue (202) 622-3860 Unfunded Mandates: Undetermined Code, and affect corporations and their Reviewing attorney: Michael H. Frankel Legal Authority: 26 USC 411; 26 USC shareholders. (202) 622-3860 7805 Timetable: Treasury attorney: Rocco Femia (202) CFR Citation: 26 CFR 1 Action Date FR Cite 622-1755 Legal Deadline: None ANPRM 05/06/03 68 FR 23931 CC:INTL NPRM 12/00/04 Abstract: These regulations will Agency Contact: Thomas D. Beem, provide guidance regarding the Regulatory Flexibility Analysis Attorney–Advisor, Department of the determination of normal retirement age Required: No Treasury, Internal Revenue Service, in a pension plan, including a money Small Entities Affected: No 1111 Constitution Avenue NW, 1111 purchase pension plan, target benefit Government Levels Affected: Constitution Avenue NW, Washington, plan and defined benefit plan. Section None DC 20224 411(a)(8) defines the term normal Additional Information: REG-100818-01 Phone: 202 622–3860 retirement age as the earlier of: 1) the Drafting attorney: Douglas C. Bates RIN: 1545–AY41 time a participant attains normal (202) 622-7550 retirement age under the plan; or 2) the later of the time a plan participant Reviewing attorney: Debra Carlisle 2612. PREVIOUSLY TAXED EARNINGS attains age 65, or the 5th anniversary (202) 622-7550 AND PROFITS UNDER SUBPART F of the time a plan participant CC:COR Priority: Substantive, Nonsignificant commenced participation in the plan. Agency Contact: Douglas C. Bates, Unfunded Mandates: Undetermined These regulations also would provide Attorney–Advisor, Department of the section 411(d)(6) relief for amendments Treasury, Internal Revenue Service, Legal Authority: 26 USC 7805; 26 USC that modify a pension plan’s normal 959 1111 Constitution Avenue NW, retirement age to conform with the Washington, DC 20224 CFR Citation: 26 CFR 1 proposed regulation. Phone: 202 622–7550 Legal Deadline: None Timetable: RIN: 1545–AY74 Abstract: This regulation will address Action Date FR Cite the determination of previously taxed NPRM 12/00/04 2615. DISCLOSURE OF RETURNS earnings and profits under subpart F. AND RETURN INFORMATION IN Timetable: Regulatory Flexibility Analysis Required: Undetermined JUDICIAL AND ADMINISTRATIVE TAX Action Date FR Cite PROCEEDINGS Government Levels Affected: None NPRM 12/00/04 Priority: Substantive, Nonsignificant Additional Information: REG-125499-00 Regulatory Flexibility Analysis Unfunded Mandates: Undetermined Required: No Drafting attorney: Janet A. Laufer (202) Legal Authority: 26 USC 6103 622-6090 Small Entities Affected: No CFR Citation: 26 CFR 301 Reviewing attorney: Marjorie Hoffman Government Levels Affected: None (202) 622-6030 Legal Deadline: None Additional Information: REG-121509-00 Treasury attorney: William Bortz (202) Abstract: This proposed rule relates to Drafting attorney: Jonathan A. Sambur 622-1352 the disclosure of returns and return (202) 622-3840 information in judicial and CC:TEGE administrative tax proceedings Reviewing attorney: Phyllis E. Marcus pursuant to 26 U.S.C. 6103(h)(4). (202) 622-3840 Agency Contact: Janet A. Laufer, Attorney–Advisor, Department of the Timetable: Treasury attorney: Rocco Femia (202) Treasury, Internal Revenue Service, 622-1755 1111 Constitution Avenue NW, Action Date FR Cite CC:INTL Washington, DC 20224 NPRM 07/00/04 Agency Contact: Jonathan A. Sambur, Phone: 202 622–6090 Regulatory Flexibility Analysis Attorney–Advisor, Department of the RIN: 1545–AY61 Required: No
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TREAS—IRS Proposed Rule Stage
Small Entities Affected: No Treasury, Internal Revenue Service, Timetable: Government Levels Affected: None 1111 Constitution Avenue NW, Action Date FR Cite Washington, DC 20224 Additional Information: REG-120297-01 Phone: 202 622–3840 NPRM 12/00/04 Drafting attorney: Christine S. Irwin RIN: 1545–AY92 Regulatory Flexibility Analysis (202) 622-4570 Required: No Reviewing attorney: David L. Fish (202) Small Entities Affected: Businesses 622-4580 2617. TRANSACTIONS INVOLVING OBLIGATIONS OF CONSOLIDATED Government Levels Affected: None Treasury attorney: Eric San Juan (202) GROUP MEMBERS Additional Information: REG-139449-01 622-0224 Priority: Substantive, Nonsignificant Drafting attorney: Linda S.F. Marshall CC:PA:DPL Legal Authority: 26 USC 7805; 26 USC (202) 622-6090 Agency Contact: Christine S. Irwin, 1502 Attorney–Advisor, Department of the Reviewing attorney: Mark Schwimmer Treasury, Internal Revenue Service, CFR Citation: 26 CFR 1 (202) 622-6090 1111 Constitution Avenue NW, Legal Deadline: None Treasury attorney: Thomas Reeder (202) Washington, DC 20224 622-1341 Abstract: The proposed regulations are Phone: 202 622–4570 CC:TEGE in regard to intercompany obligations. RIN: 1545–AY89 Agency Contact: Linda S.F. Marshall, Timetable: Senior Counsel, Department of the 2616. TRANSITIONAL RELIEF FOR Action Date FR Cite Treasury, Internal Revenue Service, QUALIFIED INTERMEDIARIES NPRM 07/00/04 1111 Constitution Avenue NW, Washington, DC 20224 Priority: Substantive, Nonsignificant. Regulatory Flexibility Analysis Phone: 202 622–6090 Major status under 5 USC 801 is Required: No undetermined. RIN: 1545–BA13 Small Entities Affected: No Unfunded Mandates: Undetermined Government Levels Affected: None Legal Authority: 26 USC 7805; 26 USC 2619. GASOLINE TAX CLAIMS 1441 Additional Information: REG-107592-00 Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Drafting attorney: Frances Kelly (202) Legal Authority: 26 USC 7805; 26 USC Legal Deadline: None 622-7072 6416 Abstract: The regulation will Reviewing attorney: Michael J. Wilder CFR Citation: 26 CFR 48 promulgate Notices 2001-4, 2001-11 (202) 622-3393 Legal Deadline: None and 2001-43 into the section 1441 Treasury attorney: Audrey Nacamuli Abstract: The proposed regulation will regulation. Generally, the Notices (202) 622-5721 provide guidance regarding claims for provide transitional relief with respect CC:COR credit or refund of the gasoline tax to the new withholding regime for under section 6416(b)(2) of the Internal Agency Contact: qualified intermediaries. Frances L. Kelly, Revenue Code. Timetable: Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Timetable: Action Date FR Cite 1111 Constitution Avenue NW, Action Date FR Cite NPRM 12/00/04 Washington, DC 20224 Phone: 202 622–7770 ANPRM 10/23/01 66 FR 53564 Regulatory Flexibility Analysis NPRM 12/00/04 Required: Related RIN: Related to 1545–AW30 No Regulatory Flexibility Analysis Small Entities Affected: No RIN: 1545–BA11 Required: No Government Levels Affected: Small Entities Affected: Businesses, Undetermined 2618. DEDUCTIBILITY OF EMPLOYER Governmental Jurisdictions Federalism: Undetermined CONTRIBUTIONS FOR DEFERRED Government Levels Affected: Local, COMPENSATION Additional Information: REG-125443-01 State, Tribal Drafting attorney: Ethan A. Atticks Priority: Substantive, Nonsignificant Additional Information: REG-143219-01 (202) 622-3840 Legal Authority: 26 USC 7805 Drafting attorney: Susan Athy (202) Reviewing attorney: Valerie Mark-Lippe CFR Citation: 26 CFR 1 622-3130 (202) 622-3840 Legal Deadline: None Reviewing attorneys: Frank Boland Treasury attorney: Andy Froberg (202) (202) 622-3130 and Phillip Howard 622-1779 Abstract: These regulations will update (202) 622-3000 and clarify the general rules for CC:INTL deductibility of employer contributions Treasury attorney: John Parcell (202) Agency Contact: Ethan A. Atticks, to qualified retirement plans and other 622-2578 Attorney–Advisor, Department of the deferred compensation arrangements. CC:PSI
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TREAS—IRS Proposed Rule Stage
Agency Contact: Susan Athy, Treasury, Internal Revenue Service, avoidance techniques are addressed by Attorney–Advisor, Department of the 1111 Constitution Avenue NW, Property Treasury Regulation section Treasury, Internal Revenue Service, Washington, DC 20224 1.7701(i)-2 (1996). This regulation also 1111 Constitution Avenue NW, Phone: 202 622–3600 would modify a rule in the proposed Washington, DC 20224 RIN: 1545–BA31 regulation dealing with certain related- Phone: 202 622–3130 party transfers that might, in its present RIN: 1545–BA27 form, present opportunities for tax 2621. INCOME FROM SOURCES avoidance. WITHIN SPECIFIED POSSESSION Timetable: 2620. SUSPENSION OF STATUTES OF Priority: Substantive, Nonsignificant LIMITATION IN JOHN DOE AND Action Date FR Cite Legal Authority: 26 USC 7805; 26 USC THIRD–PARTY SUMMONS DISPUTES, NPRM 12/00/04 AND EXPANSION OF TAXPAYERS’ 931; 26 USC 911 Regulatory Flexibility Analysis RIGHTS TO RECEIVE NOTICE AND CFR Citation: 26 CFR 1 SEEK JUDICIAL REVIEW OF THIRD Required: No Legal Deadline: None PARTY SUMMONSES Small Entities Affected: No Abstract: This regulation will remove Priority: Substantive, Nonsignificant Government Levels Affected: the reference to section 911 in the None Legal Authority: 26 USC 7603; 26 USC section 931 regulations and update the Additional Information: REG-160799-01 7609 definition of a possession under those Drafting attorney: Jeffrey L. Vinnik CFR Citation: 26 CFR 301 regulations. (202) 622-3840 Legal Deadline: None Timetable: Reviewing attorney: David N. Bowen Abstract: The proposed regulation Action Date FR Cite (202) 622-3800 provides guidance regarding modified NPRM 07/00/04 Treasury attorney: Rocco Femia (202) rules for serving summonses on third- 622-1755 party recordkeepers, the broadened Regulatory Flexibility Analysis range of summonses subject to the Required: No CC:INTL notice requirements, and the Small Entities Affected: No Agency Contact: Jeffrey L. Vinnik, suspension of limitations periods when Government Levels Affected: None Attorney–Advisor, Department of the court actions are brought or when a Treasury, Internal Revenue Service, summoned third party fails to fully Additional Information: REG-159068-01 1111 Constitution Avenue NW, respond to a summons. This proposed Drafting attorney: Ethan A. Atticks Washington, DC 20224 regulation incorporates the changes (202) 622-3840 Phone: 202 622–3840 enacted in the Internal Revenue Service Reviewing attorney: Phyllis E. Marcus RIN: 1545–BA41 Restructuring and Reform Act of 1998, (202) 622-3840 Omnibus Budget Reconciliation Act of 1990,Technical and Miscellaneous Treasury attorney: Carl Dubert (202) 2623. MULTIFAMILY HOUSING BONDS 622-0222 Revenue Act of 1988 and Tax Reform Priority: Substantive, Nonsignificant Act of 1986. This regulation is a CC:INTL continuation of the regulation project Legal Authority: 26 USC 7805 Agency Contact: Ethan A. Atticks, previously numbered at REG-208225- CFR Citation: 26 CFR 1 88. Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Legal Deadline: None Timetable: 1111 Constitution Avenue NW, Abstract: These regulations relate to Action Date FR Cite Washington, DC 20224 various issues with respect to Phone: 202 622–3840 NPRM 12/00/04 multifamily housing bonds. RIN: 1545–BA37 Regulatory Flexibility Analysis Timetable: Required: No Action Date FR Cite Small Entities Affected: No 2622. TREATMENT OF CERTAIN OBLIGATION–SHIFTING NPRM 12/00/04 Government Levels Affected: None TRANSACTIONS Regulatory Flexibility Analysis Required: Additional Information: REG-153037-01 Priority: Substantive, Nonsignificant Undetermined Government Levels Affected: Drafting attorney: Elizabeth D. Rawlins Legal Authority: 26 USC 7805; 26 USC Local, (202) 622-3600 864(c)(6); 26 USC 7701(e) State Additional Information: Reviewing attorney: Robert A. Miller CFR Citation: 26 CFR 1 REG-163765-01 (202) 622-3600 Legal Deadline: None Drafting attorney: Rose M. Weber (202) Treasury attorney: Jonathan Ackerman 622-3980 (202) 622-1981 Abstract: This regulation proposes a rule that applies to a single taxpayer Reviewing attorney: Bruce M. Serchuk CC:PA:CBS engaging in certain tax-motivated (202) 622-3980 Agency Contact: Elizabeth D. Rawlins, obligation-shifting transfers to prevent Treasury attorney: Stephen J. Watson Attorney–Advisor, Department of the tax avoidance. Similar multi-party tax (202) 622-1322
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TREAS—IRS Proposed Rule Stage
CC:TEGE Phone: 202 622–3070 Timetable: Agency Contact: Rose M. Weber, RIN: 1545–BA59 Action Date FR Cite Attorney–Advisor, Department of the NPRM 07/00/04 Treasury, Internal Revenue Service, 2625. ALLOCATION AND 1111 Constitution Avenue NW, Regulatory Flexibility Analysis APPORTIONMENT RULES: GUIDANCE Washington, DC 20224 Required: No ON SELECTED ISSUES Phone: 202 622–3980 Small Entities Affected: No Priority: Substantive, Nonsignificant RIN: 1545–BA45 Government Levels Affected: None Legal Authority: 26 USC 7805; 26 USC 863 Federalism: Undetermined 2624. MODIFICATION OF CHECK THE Additional Information: BOX REGULATIONS CFR Citation: 26 CFR 1 REG-125628-01 Priority: Substantive, Nonsignificant Legal Deadline: None Drafting attorney: Robert W. Lorence (202) 622-3860 Legal Authority: 26 USC 7805 Abstract: This regulation provides guidance with respect to the allocation Reviewing attorney: Charles Besecky CFR Citation: 26 CFR 1; 26 CFR 301 and apportionment under section 861 (202) 622-3860 Legal Deadline: None of selected deductions, e.g., disaster CC:INTL losses and research and Abstract: The Modification of Check Agency Contact: experimentation expenses. Robert W. Lorence, the Box regulation will add a new Senior Counsel, Department of the section to the 301.7701-2 regulations to Timetable: Treasury, Internal Revenue Service, provide that in certain circumstances, Action Date FR Cite 1111 Constitution Avenue NW, namely in State law mergers and Washington, DC 20224 conversions, a surviving disregarded NPRM 06/00/05 Phone: 202 622–3860 entity will be regarded for purposes of Regulatory Flexibility Analysis RIN: 1545–BA65 assessment and collection of prior year Required: No tax liabilities of predecessor entities. Small Entities Affected: No Thus, following a transaction in which 2627. CIRCULAR 230—PHASE 2 a regarded entity is merged or Government Levels Affected: None NONSHELTER REVISIONS converted into a disregarded entity, the Additional Information: REG-128240-01 Commissioner will be able to exercise Priority: Substantive, Nonsignificant collection and assessment authority Drafting attorney: Teresa B. Hughes Unfunded Mandates: Undetermined against the disregarded entity for any (202) 622-3850 Legal Authority: 31 USC 330 liabilities stemming from tax periods of Reviewing attorney: Anne Devereaux the regarded entity prior to the date of (202) 622-3850 CFR Citation: 26 CFR 1 the transaction. Treasury attorney: John Harrington Legal Deadline: None Timetable: (202) 622-0589 Abstract: These regulations propose Action Date FR Cite CC:INTL amendments to the rules governing practice before the Internal Revenue NPRM 04/01/04 69 FR 17117 Agency Contact: Teresa B. Hughes, Service. Public Hearing 07/22/04 Attorney–Advisor, Department of the Final Action 12/00/04 Treasury, Internal Revenue Service, Timetable: Regulatory Flexibility Analysis 1111 Constitution Avenue NW, Action Date FR Cite Required: No Washington, DC 20224 Phone: 202 622–3850 ANPRM 12/19/02 67 FR 77724 Small Entities Affected: Businesses NPRM 12/00/04 RIN: 1545–BA64 Government Levels Affected: Regulatory Flexibility Analysis Undetermined Required: No 2626. PROVISIONS REGARDING Federalism: Undetermined Small Entities Affected: No CROSS–BORDER TRANSACTIONS Additional Information: REG-106681-02 Government Levels Affected: None Priority: Substantive, Nonsignificant. Drafting attorney: James M. Gergurich Major status under 5 USC 801 is Additional Information: REG-122380-02 (202) 622-3070 undetermined. Drafting attorney: Heather L. Dostaler Reviewing attorney: Jeanne Sullivan Unfunded Mandates: Undetermined (202) 622-8445 (202) 622-3070 Legal Authority: Reviewing attorney: Richard S. Treasury attorney: Stephanie Robinson 26 USC 7805; 26 USC Goldstein (202) 622-7820 (202) 622-9858 368(a) Treasury attorney: Julian Kim (202) CC:PSI CFR Citation: 26 CFR 1 622-1981 Agency Contact: James M. Gergurich, Legal Deadline: None Attorney–Advisor, Department of the Abstract: This proposed regulation will CC:PA:APJ Treasury, Internal Revenue Service, make conforming changes to account Agency Contact: Heather L. Dostaler, 1111 Constitution Avenue NW, for cross-border section 368(a)(1)(A) Attorney–Advisor, Department of the Washington, DC 20224 mergers. Treasury, Internal Revenue Service,
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TREAS—IRS Proposed Rule Stage
1111 Constitution Avenue NW, to satisfy an asserted liability that the Treasury attorney: John Parcell (202) Washington, DC 20224 taxpayer contests. The amendment to 622-2578 Phone: 202 622–8445 regulations section 1.461-2(c)(1) relates CC:PA:APJ RIN: 1545–BA72 to transfers to provide for the satisfaction of an asserted liability. The Agency Contact: Bridget E. Tombul, regulations would also amend Attorney–Advisor, Department of the 2628. ALLOCATION OF NEW regulations section 1.461-2 to provide Treasury, Internal Revenue Service, MARKETS TAX CREDIT rules relating to economic performance. 1111 Constitution Avenue NW, Washington, DC 20224 Priority: Substantive, Nonsignificant Timetable: Phone: 202 622–4940 Unfunded Mandates: Undetermined Action Date FR Cite RIN: 1545–BA96 Legal Authority: 26 USC 45D; 26 USC NPRM 12/00/04 7805 Regulatory Flexibility Analysis 2631. TIMELY MAILING TREATMENT CFR Citation: 26 CFR 1 Required: No Priority: Substantive, Nonsignificant Legal Deadline: None Small Entities Affected: No Legal Authority: 26 USC 7502 Abstract: The regulations will address Government Levels Affected: None CFR Citation: 26 CFR 301 how the section 45D new markets tax Additional Information: REG-136890-02 credit should be allocated to the Legal Deadline: None partners of a partnership under section Drafting attorney: Norma C. Rotunno 704(b) of the Internal Revenue Code (202) 622-7900 Abstract: This regulation will expressly provide that a registered or certified and will address related partnership Reviewing attorney: Thomas D. Moffitt mail receipt is the sole means to prove issues. (202) 622-7900 delivery of a document to the Internal Timetable: Treasury attorney: Sharon A. Kay (202) Revenue Service. 622-0865 Action Date FR Cite Timetable: CC:ITA NPRM 12/00/04 Action Date FR Cite Agency Contact: Norma C. Rotunno, Regulatory Flexibility Analysis NPRM 12/00/04 Required: No Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Regulatory Flexibility Analysis Small Entities Affected: Businesses 1111 Constitution Avenue NW, Required: Undetermined Government Levels Affected: None Washington, DC 20224 Government Levels Affected: None Phone: 202 622–7900 Additional Information: REG-131999-02 Additional Information: REG-138176-02 Related RIN: Related to 1545–BA91 Drafting attorney: Michael Goldman Drafting attorney: Charles A. Hall (202) RIN: 1545–BA90 (202) 622-3080 622-4940 Reviewing attorney: James Quinn (202) Reviewing attorney: Ashton Trice (202) 622-3070 2630. GUIDANCE TO FACILITATE 622-4940 CC:PSI ELECTRONIC TAX ADMINISTRATION Treasury attorney: Eric San Juan (202) Agency Contact: Michael Goldman, Priority: Substantive, Nonsignificant 622-0224 Attorney–Advisor, Department of the Unfunded Mandates: Undetermined CC:PA:APJ Treasury, Internal Revenue Service, Legal Authority: 26 USC 7805 1111 Constitution Avenue NW, Agency Contact: Charles A. Hall, Washington, DC 20224 CFR Citation: 26 CFR 301 Senior Counsel, Department of the Phone: 202 622–3080 Legal Deadline: None Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, RIN: 1545–BA84 Abstract: This regulation will facilitate Washington, DC 20224 electronic tax administration. Phone: 202 622–4940 Timetable: 2629. TRANSFER OF NOTES OR RIN: 1545–BA99 STOCK TO PROVIDE FOR Action Date FR Cite SATISFACTION OF CONTESTED LIABILITIES NPRM 12/00/04 2632. HAND CARRY RETURNS Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant Required: No Legal Authority: 26 USC 7805 Legal Authority: 26 USC 6091 Small Entities Affected: No CFR Citation: 26 CFR 1 CFR Citation: 26 CFR 1 Government Levels Affected: None Legal Deadline: None Legal Deadline: None Additional Information: REG-137243-02 Abstract: The proposed regulations Abstract: This regulation revises would amend regulations section 1.461- Drafting attorney: Bridget E. Tombul obsolete references in the regulations 2 that allows a taxpayer to deduct in (202) 622-4940 under section 6091 of the Internal the taxable year of transfer the amount Reviewing attorney: Ashton P. Trice Revenue Code and provides guidance of money on other property transferred (202) 622-4940 to taxpayers on the proper place to file
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TREAS—IRS Proposed Rule Stage
a return by hand carrying the return CC:INTL CFR Citation: 26 CFR 1 to the Internal Revenue Service. Agency Contact: David Bowen, Legal Deadline: None Currently, the regulations provide that Attorney–Advisor, Department of the Abstract: These regulations are handcarried returns should be filed Treasury, Internal Revenue Service, with the District Director. amendments to the general public use 1111 Constitution Avenue NW, requirements in the low-income Timetable: Washington, DC 20224 housing tax credit program. Phone: 202 435–5265 Action Date FR Cite Timetable: NPRM 12/00/04 RIN: 1545–BB26 Action Date FR Cite Regulatory Flexibility Analysis NPRM 12/00/04 Required: Undetermined 2634. APPLICATION OF SEPARATE LIMITATIONS TO DIVIDENDS FROM Regulatory Flexibility Analysis Government Levels Affected: None NONCONTROLLED SECTION 902 Required: No Additional Information: REG-138173-02 CORPORATION Small Entities Affected: No Drafting attorney: Emly B. Berndt (202) Priority: Substantive, Nonsignificant 622-4940 Government Levels Affected: None Legal Authority: 26 USC 7805; 26 USC Additional Information: REG-151145-02 Reviewing attorney: Ashton Trice (202) 904(d)(6) 622-4940 Drafting attorney: Jack Malgeri (202) CFR Citation: 26 CFR 1 Treasury attorney: Julian Kim (202) 622-3040 Legal Deadline: None 622-2578 Reviewing attorney: Harold Burghart CC:PA:APJ Abstract: The Taxpayer Relief Act of (202) 622-3040 1997 amended the foreign tax credit Agency Contact: Emly B. Berndt, limitation rules under section 904(d) CC:PSI Attorney–Advisor, Department of the and extended lookthrough treatment to Agency Contact: Jack Malgeri, Treasury, Internal Revenue Service, dividends paid by a 10/50 lookthrough Attorney–Advisor, Department of the 1111 Constitution Avenue NW, corporation, effective for earnings and Treasury, Internal Revenue Service, Washington, DC 20224 profits accumulated in tax years 1111 Constitution Avenue NW, Phone: 202 622–4940 beginning after December 31, 2002. Washington, DC 20224 Related RIN: Related to 1545–BB45 These regulations would provide Phone: 202 622–3040 RIN: 1545–BB00 guidance needed to comply with these RIN: 1545–BB37 changes, including transition rules for dividends paid by a 10/50 lookthrough 2633. COST SHARING corporation. 2636. ELECTION OUT GENERATION–SKIPPING TRANSFER Priority: Substantive, Nonsignificant Timetable: TAX (GST) DEEMED ALLOCATIONS Legal Authority: 26 USC 7805; 26 USC Action Date FR Cite 482 Priority: Info./Admin./Other NPRM 12/00/04 CFR Citation: 26 CFR 1 Legal Authority: 26 USC 2601; 26 USC Regulatory Flexibility Analysis 2632; 26 USC 2642 Legal Deadline: None Required: Undetermined CFR Citation: 26 CFR 601 Abstract: These proposed regulations Government Levels Affected: None will provide additional guidance on Legal Deadline: None Additional Information: REG-144784-02 cost sharing arrangements under Abstract: Procedure for making the section 482. Drafting attorney: Ginny Y. Chung (202) election to not have the deemed Timetable: 622-3850 generation-skipping transfer tax allocation rules apply with respect to Action Date FR Cite Reviewing attorney: Barbara Felker (202) 622-3850 a GST Trust and for making the NPRM 12/00/04 election to treat a trust as a GST Trust. CC:INTL Regulatory Flexibility Analysis Timetable: Required: No Agency Contact: Ginny Y. Chung, Attorney–Advisor, Department of the Action Date FR Cite Small Entities Affected: No Treasury, Internal Revenue Service, NPRM 12/00/04 Government Levels Affected: None 1111 Constitution Avenue NW, Regulatory Flexibility Analysis Federalism: Undetermined Washington, DC 20224 Phone: 202 622–3850 Required: No Additional Information: REG-144615-02 RIN: 1545–BB28 Small Entities Affected: No Drafting attorneys: David Bowen (202) Government Levels Affected: None 622-3800 and Jeffrey Parry (202) 435- 5265 2635. AMENDING THE LOW–INCOME Additional Information: REG-153841-02 Reviewing attorney: Elizabeth G. Beck HOUSING TAX CREDIT PROGRAM Drafting attorney: Mayer Samuels (202) (202) 435-5265 Priority: Substantive, Nonsignificant 622-3090 Treasury attorney: Rocco Femia (202) Legal Authority: 26 USC 42; 26 USC Reviewing attorney: George Maenik 622-1755 7805 (202) 622-3090
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TREAS—IRS Proposed Rule Stage
Treasury attorney: Catherine Hughes section allows eligible employer plans Government Levels Affected: None (202) 622-9407 to permit employees to make voluntary Additional Information: REG-158210-02 CC:PSI contributions to a separate account or annuity established under the plan. The Drafting attorney: Linda L. Conway Agency Contact: Mayer Samuels, regulation will provide rules under (202) 622-6090 attorney, Department of the Treasury, which the accounts or annuities will Reviewing attorney: Janet Laufer (202) Internal Revenue Service, 1111 be treated as Roth or traditional IRA’s 622-6090 Constitution Ave NW, Washington, DC as applicable. 20024 Treasury attorney: Tom Reeder (202) Phone: 202 622–3090 Timetable: 622-1341 RIN: 1545–BB54 Action Date FR Cite CC:TEGE NPRM 12/00/04 Agency Contact: Linda L. Conway, 2637. SUBSTITUTE DIVIDEND Regulatory Flexibility Analysis Attorney–Advisor, Department of the PAYMENTS IN SECURITIES LENDING Required: No Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, AND SIMILAR TRANSACTIONS Small Entities Affected: No Washington, DC 20224 Priority: Substantive, Nonsignificant Government Levels Affected: None Phone: 202 622–6090 Legal Authority: 26 USC 7805; 26 USC Additional Information: REG-157302-02 RIN: 1545–BB59 7701; 26 USC 863 Drafting attorney: Linda L. Conway CFR Citation: 26 CFR 1 (202) 622-6090 2640. LOSS LIMITATION RULES—G U Legal Deadline: None Reviewing attorney: Janet Laufer (202) REPEAL Abstract: This regulation relates to 622-6090 Priority: Substantive, Nonsignificant taxation of cross-border and foreign-to- Treasury attorney: Tom Reeder (202) Legal Authority: 26 USC 337; 26 USC foreign substitute dividend payments in 622-1341 securities lending and similar 7805; 26 USC 1502 CC:TEGE transactions. CFR Citation: 26 CFR 1; 26 CFR 602 Agency Contact: Linda L. Conway, Timetable: Legal Deadline: None Attorney–Advisor, Department of the Action Date FR Cite Treasury, Internal Revenue Service, Abstract: The regulations will provide NPRM 12/00/04 1111 Constitution Avenue, NW, guidance to corporations that are Washington, DC 20224 members of an affiliated group filing Regulatory Flexibility Analysis Phone: 202 622–6090 a consolidated income tax return and Required: Undetermined that own stock of a subsidiary member RIN: 1545–BB58 Government Levels Affected: Federal of the group. The regulations will prevent rules relating to certain Additional Information: REG-130751-01 2639. DEEMED IRAS IN QUALIFIED adjustments to the basis of subsidiary Drafting attorney: Jeffrey L. Vinnik RETIREMENT PLANS (TEMPORARY) member stock from having the effect of (202) 622-3840 Priority: Substantive, Nonsignificant offsetting certain income and gain upon Reviewing attorney: David Bowen (202) a disposition of the stock by the Legal Authority: 622-3800 26 USC 408(q) consolidated group. CFR Citation: CC:INTL 26 CFR 1 Timetable: Legal Deadline: Agency Contact: Jeffrey L. Vinnik, None Action Date FR Cite Attorney–Advisor, Department of the Abstract: The Economic Growth and NPRM 07/00/04 Treasury, Internal Revenue Service, Tax Relief Reconciliation Act of 2001 1111 Constitution Avenue NW, (EGTRRA) added new section 408(q) to Regulatory Flexibility Analysis Washington, DC 20224 the Internal Revenue Code. The new Required: No Phone: 202 622–3840 section allows eligible employer plans Small Entities Affected: No to permit employees to make voluntary RIN: 1545–BB56 Government Levels Affected: contributions to a separate account or Undetermined annuity established under the plan. The 2638. DEEMED IRAS IN QUALIFIED regulation will provide rules under Federalism: Undetermined RETIREMENT PLANS which the accounts or annuities will Additional Information: REG-157711-02 Priority: Substantive, Nonsignificant be treated as Roth or traditional IRA’s as applicable. Drafting attorney: Martin Huck (202) Legal Authority: 26 USC 408 622-7550 Timetable: CFR Citation: 26 CFR 1 Reviewing attorney: Theresa Abell (202) Action Date FR Cite Legal Deadline: None 622-7700 Temporary Regulation 12/00/04 Abstract: The Economic Growth and CC:COR Tax Relief Reconciliation Act of 2001 Regulatory Flexibility Analysis Agency Contact: Martin T. Huck, (EGTRRA) added new section 408(q) to Required: No Attorney–Advisor, Department of the the Internal Revenue Code. The new Small Entities Affected: No Treasury, Internal Revenue Service,
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TREAS—IRS Proposed Rule Stage
1111 Constitution Avenue NW, 2642. USE OF GOVERNMENT Regulatory Flexibility Analysis Washington, DC 20224 DEPOSITARIES IN CONNECTION Required: No Phone: 202 622–7750 WITH TAX UNDER THE FEDERAL Small Entities Affected: No UNEMPLOYMENT TAX ACT RIN: 1545–BB61 (TEMPORARY) Government Levels Affected: Undetermined Priority: Substantive, Nonsignificant 2641. CONTRIBUTIONS TO Additional Information: REG-163113-02 Legal Authority: 26 USC 7805; 26 USC PURCHASE CERTAIN RETIREMENT 6302 Drafting attorney: John MacEachen ANNUITIES OR CUSTODIAL (202) 622-3253 ACCOUNTS UNDER SECTION 403(B) CFR Citation: 26 CFR 31 Reviewing attorney: George Masnik Legal Deadline: None Priority: Substantive, Nonsignificant (202) 622-3090 Abstract: The temporary regulations Treasury attorney: Catherine Hughes Legal Authority: 26 USC 403(b); 26 will raise the amount of accumulated (202) 622-9407 USC 7805 Federal Unemployment Tax Act for taxes that a taxpayer may accumulate CC:PSI CFR Citation: 26 CFR 1 before required to deposit. Agency Contact: John MacEachen, Legal Deadline: None Timetable: Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Abstract: Action Date FR Cite This regulation would revise 1111 Constitution Avenue NW, and update the current section 403(b) Temporary 12/00/04 Washington, DC 20224 regulations to reflect the numerous Regulations Phone: 202 622–7830 statutory revisions to this section of the Regulatory Flexibility Analysis Internal Revenue Code since these RIN: 1545–BB71 Required: Undetermined regulations were first promulgated in Government Levels Affected: 1964. Section 403(b) concerns the 2644. QUALIFIED INTERESTS income tax exclusion for contributions Undetermined Priority: Info./Admin./Other to purchase certain retirement annuities Additional Information: REG-144908-02 or custodial accounts made for their Legal Authority: 26 USC 2702 employees by certain tax-exempt Drafting attorney: Heather L. Dostaler CFR Citation: 26 CFR 25 employers or State-sponsored (202) 622-8445 educational institutions. Reviewing attorney: Brinton T. Warren Legal Deadline: None (202) 622-4940 Timetable: Abstract: This regulation amends Treasury attorney: John Parcell (202) examples 5 and 6 of regulation section Action Date FR Cite 622-2578 25.2702-3(e) to comply with the Tax NPRM 12/00/04 CC:PA:APJ Court’s holding in Walton v. Commissioner, 115 TC. 589 (2000). Regulatory Flexibility Analysis Agency Contact: Heather L. Dostaler, Timetable: Required: No Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Action Date FR Cite Small Entities Affected: Governmental 1111 Constitution Avenue NW, NPRM 12/00/04 Jurisdictions Washington, DC 20224 Phone: 202 622–8445 Regulatory Flexibility Analysis Government Levels Affected: Federal, Required: No Local, State, Tribal Related RIN: Related to 1545–BB66 Small Entities Affected: No Additional Information: RIN: 1545–BB67 REG-155608-02 Government Levels Affected: None Drafting attorney: John A. Tolleris (202) 2643. LIQUIDATION OF AN INTEREST Additional Information: REG-163679-02 622-6060 Priority: Substantive, Nonsignificant Drafting attorney: Julie Ro Kim (202) Reviewing attorney: Cheryl Press (202) 622-3090 Legal Authority: 26 USC 2704(b) 622-6060 Reviewing attorney: George Masnik CFR Citation: 26 CFR 1 (202) 622-3090 Treasury attorney: William Bortz (202) Legal Deadline: None 622-1352 Treasury attorney: Catherine Hughes Abstract: This regulation relates to (202) 622-9407 CC:TEGE additional rules for determining when CC:PSI applicable restrictions are disregarded Agency Contact: John A. Tolleris, in valuing the liquidation of an interest Agency Contact: Juli Ro Kim, Attorney, Department of the Treasury, under section 2704 of the Internal Attorney–Advisor, Department of the Internal Revenue Service, 1111 Revenue Code. Treasury, Internal Revenue Service, Constitution Avenue NW, Washington, 1111 Constitution Avenue NW, Timetable: DC 20224 Washington, DC 20224 Phone: 202 622–6060 Action Date FR Cite Phone: 202 622–3090 RIN: 1545–BB64 NPRM 12/00/04 RIN: 1545–BB72
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TREAS—IRS Proposed Rule Stage
2645. COLLECTED EXCISE TAXES; Timetable: Treasury, Internal Revenue Service, DUTIES OF COLLECTOR Action Date FR Cite 1111 Constitution Avenue NW, Washington, DC 20224 Priority: Substantive, Nonsignificant Temporary 07/00/04 Phone: 202 622–3900 Regulations Legal Authority: 26 USC 4291; 26 USC RIN: 1545–BB84 6302; 26 USC 7805 Regulatory Flexibility Analysis Required: No CFR Citation: 26 CFR 40; 26 CFR 49 2648. PREDECESSORS OR Small Entities Affected: No Legal Deadline: None SUCCESSORS UNDER SECTION Government Levels Affected: None 355(E) Abstract: These proposed regulations relate to the obligations of persons that Additional Information: REG-163909-02 Priority: Substantive, Nonsignificant receive payments for air transportation Drafting attorney: Taylor Cortright (202) Unfunded Mandates: Undetermined or communications service subject to 622-3130 Legal Authority: 26 USC 355; 26 USC excise tax when persons liable for taxes Reviewing attorneys: Frank Boland 7805 refuse to pay the tax. (202) 622-3130 and Phillip Howard CFR Citation: 26 CFR 1 Timetable: (202) 622-3000 Legal Deadline: None Action Date FR Cite Treasury attorney: John Parcell (202) 622-2578 Abstract: These regulations under NPRM 07/00/04 section 355(e) set forth whether a CC:PSI Regulatory Flexibility Analysis transferor to or a transferee of Required: No Agency Contact: Taylor Cortright, distributing or controlled assets is a Attorney, Department of the Treasury, predecessor or successor. Small Entities Affected: No Internal Revenue Service, 1111 Timetable: Government Levels Affected: None Constitution Avenue NW., Washington, DC 20024 Action Date FR Cite Additional Information: REG-163909-02 Phone: 202 622–3130 NPRM 09/00/04 Drafting attorney: Taylor Cortright (202) Related RIN: Related to 1545–BB75 Regulatory Flexibility Analysis 622-3130 RIN: 1545–BB76 Required: No Reviewing attorneys: Frank K. Boland Small Entities Affected: No (202) 622-3130 and Phillip Howard Government Levels Affected: None (202) 622-3000 2647. REMIC RESIDUALS—TIMING OF INCOME FOR FOREIGN HOLDERS Additional Information: REG-145535-02 Treasury attorney: John Parcell (202) Priority: 622-2578 Substantive, Nonsignificant Drafting attorney: Krishna P. Legal Authority: 26 USC 860G(b); 26 Vallabhaneni (202) 622-7550 CC:PSI USC 7805 Reviewing attorney: Stephen P. Fattman Agency Contact: Taylor Cortright, CFR Citation: 26 CFR 1 (202) 622-7700 Attorney, Department of the Treasury, Treasury attorney: Audrey Nacamuli Internal Revenue Service, 1111 Legal Deadline: None (202) 622-5721 Constitution Avenue NW., Washington, Abstract: These regulations under 26 DC 20024 U.S.C. 860G(b) accelerate the CC:COR Phone: 202 622–3130 recognition of income associated with Agency Contact: Krishna P. Related RIN: Related to 1545–BB76 a REMIC resident interest that is Vallabhaneni, Attorney–Advisor, allocation to foreign person, including Department of the Treasury, Internal RIN: 1545–BB75 a foreign partner in a U.S. partnership. Revenue Service, 1111 Constitution Timetable: Avenue NW, Washington, DC 20224 Phone: 202 622–7550 2646. COLLECTED EXCISE TAXES; Action Date FR Cite DUTIES OF COLLECTOR RIN: 1545–BB85 (TEMPORARY) NPRM 07/00/04 Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant 2649. DEPENDENT CARE CREDIT Required: Undetermined Legal Authority: 26 USC 4291; 26 USC Priority: Substantive, Nonsignificant Government Levels Affected: 6302; 26 USC 7805 Undetermined Legal Authority: 26 USC 21; 26 USC CFR Citation: 7805 26 CFR 40; 26 CFR 49 Federalism: Undetermined CFR Citation: 26 CFR 1 Legal Deadline: None Additional Information: REG-159929-02 Legal Deadline: None Abstract: These temporary regulations Drafting attorney: Arturo Estrada (202) relate to the obligations of persons that 622-3900 Abstract: The notice of proposed receive payments for air transportation rulemaking will amend existing but or communications service subject to CC:FI partially obsolete regulations under 26 excise tax when persons liable for taxes Agency Contact: Arturo Estrada, U.S.C. 21 relating to dependent care refuse to pay the tax. Attorney–Advisor, Department of the credits.
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TREAS—IRS Proposed Rule Stage
Timetable: the approach; (4) the applicable Reviewing attorney: Audrey Ellis (202) Action Date FR Cite financial statements to be used; (5) the 622-3060 recordkeeping, retention, and NPRM 07/00/04 availability requirements for Treasury attorney: Deborah Harrington (202) 622-1788 Regulatory Flexibility Analysis verification of financial statement-tax Required: No conformity; and (6) what approach will CC:PSI apply if the election for financial Small Entities Affected: No statement-tax conformity is not made. Agency Contact: Demetri G. Yatrakis, Government Levels Affected: None A notice of proposed rulemaking is Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Additional Information: REG-139059-02 being drafted currently based upon comments received from the ANPRM. 1111 Constitution Avenue NW., Drafting attorney: Warren M. Joseph Washington, DC 20224 (202) 622-4920 Timetable: Phone: 202 622–3060 Reviewing attorney: Robert Berkovsky Action Date FR Cite (202) 622-4920 Audrey W. Ellis, Attorney–Advisor, NPRM 12/00/04 Department of the Treasury, Internal CC:ITA Regulatory Flexibility Analysis Revenue Service, 1111 Constitution Agency Contact: Warren M. Joseph, Required: Undetermined Avenue NW., Washington, DC 20224 Attorney–Advisor, Department of the Government Levels Affected: None Phone: 202 622–3060 Treasury, Internal Revenue Service, RIN: 1111 Constitution Avenue NW, Additional Information: REG-100420-03 1545–BB92 Washington, DC 20224 Drafting attorney: Marsha A. Sabin Phone: 202 622–4920 (202) 622-3950 2652. DETERMINATION OF RIN: 1545–BB86 Reviewing attorney: Robert Williams SINGLE–SUM DISTRIBUTIONS FROM (202) 622-3960 CASH BALANCE PLANS 2650. GUIDANCE REGARDING Treasury attorneys: Michael Novey Priority: Substantive, Nonsignificant (202) 622-1339 and Viva Hammer (202) MARK–TO–MARKET VALUATION FOR Legal Authority: 26 USC 7805 CERTAIN SECURITIES 622-0869 CFR Citation: 26 CFR 1 Priority: Substantive, Nonsignificant CC:FI Legal Authority: 26 USC 7805; 26 USC Agency Contact: Marsha A. Sabin, Legal Deadline: None Attorney–Advisor, Department of the 475; 26 USC 446 Abstract: Treasury, Internal Revenue Service, These regulations will modify CFR Citation: 26 CFR 1 1111 Constitution Avenue NW, the rules for the determination of Legal Deadline: None Washington, DC 20224 minimum single-sum distributions from cash balance pension plans. Abstract: Section 475(a) requires that Phone: 202 622–3950 dealers in securities mark their RIN: 1545–BB90 Timetable: securities to market. If the security is Action Date FR Cite inventory, the dealer must include that 2651. PARTNERSHIP EQUITY FOR security at fair market value. Taxpayers NPRM 12/00/04 SERVICES must treat any securities that are not Regulatory Flexibility Analysis inventory as if they were sold for its Priority: Substantive, Nonsignificant Required: No fair market value on the last business Legal Authority: 26 USC 721; 26 USC Small Entities Affected: Organizations day of the year. While the legal 83 definition of the term ‘‘fair market CFR Citation: 26 CFR 1 Government Levels Affected: None value’’ has long been settled, the statute is silent as to what valuation Legal Deadline: None Additional Information: REG-168897-02 methodology should be used to Abstract: These proposed regulations Drafting attorney: Linda S.F. Marshall determine fair market value of any will describe the tax treatment of (202) 622-6090 particular security. Many of the partnership equity issued in connection securities subject to section 475 raise with the performance of services. Reviewing attorney: Marjorie Hoffman difficult valuation issues. An advanced (202) 622-6030 Timetable: notice of proposed rulemaking Treasury attorney: William Bortz (202) Action Date FR Cite (ANPRM) was issued on May 5, 2003 622-1352 and asked for comments on possible a NPRM 07/00/04 financial statement-tax conformity safe CC:TEGE harbor approach for valuing certain Regulatory Flexibility Analysis Agency Contact: Linda S.F. Marshall, securities under section 475 for which Required: No Senior Counsel, Department of the the determination of actual fair market Small Entities Affected: No Treasury, Internal Revenue Service, value is administratively difficult. The Government Levels Affected: None 1111 Constitution Avenue NW, ANPRM asked for comments on: (1) the Washington, DC 20224 securities to which this approach Additional Information: REG-105346-03 Phone: 202 622–6090 applies; (2) the taxpayers who may Drafting attorneys: Demetri Yatrakis elect this approach; (3) the election into (202) 622-3060 RIN: 1545–BB93
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TREAS—IRS Proposed Rule Stage
2653. ACCRUAL FOR CERTAIN REMIC Additional Information: REG-150088-02 CFR Citation: 26 CFR 1 REGULAR INTERESTS Drafting attorney: Laurence K. Williams Legal Deadline: None Priority: Substantive, Nonsignificant (202) 622-3600 Abstract: This regulation will state the Legal Authority: 26 USC 7805 Reviewing attorney: Alan Levine (202) Internal Revenue Service’s authority to CFR Citation: 26 CFR 1 622-3600 issue other guidance concerning the CC:PA:CBS reporting requirements for tax exempt Legal Deadline: None bond partnerships. The other guidance Abstract: The proposed regulations Agency Contact: Laurence K. Williams, will be issued separately by Revenue provide guidance on the accrual of attorney, Department of the Treasury, Procedure. Internal Revenue Service, 1111 original issue discount on certain Timetable: REMIC regular interests. Constitution Avenue NW., Washington, DC 20024 Action Date FR Cite Timetable: Phone: 202 622–3600 NPRM 12/00/04 Action Date FR Cite RIN: 1545–BB96 Regulatory Flexibility Analysis NPRM 07/00/04 Required: No Regulatory Flexibility Analysis 2655. MISCELLANEOUS CHANGES TO Small Entities Affected: No Required: No COLLECTION DUE PROCESS Government Levels Affected: None Small Entities Affected: No PROCEDURES RELATING TO HEARINGS BEFORE LEVY Additional Information: REG-115472-03 Government Levels Affected: None Priority: Routine and Frequent Drafting attorney: David A. Shulman Additional Information: REG-108637-03 (202) 622-3080 Legal Authority: 26 USC 6330 Drafting attorney: Rebecca E. Asta (202) Reviewing attorney: Jeanne Sullivan 622-3930 CFR Citation: 26 CFR 301 (202) 622-3080 Reviewing attorney: Patrick White (202) Legal Deadline: None Treasury attorney: Deborah Harrington 622-3920 Abstract: The IRS is revising the (202) 622-1788 CC:FI regulations that apply to Collection Due CC:PSI Process (CDP) and equivalent hearings Agency Contact: Rebecca E. Asta, under section 6330 involving Federal Agency Contact: David A. Shulman, Attorney–Advisor, Department of the tax levies. Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Timetable: 1111 Constitution Avenue NW, Washington, DC 20224 Action Date FR Cite Washington, DC 20224 Phone: 202 622–3080 Phone: 202 622–3930 NPRM 12/00/04 Related RIN: RIN: 1545–BB94 Regulatory Flexibility Analysis Related to 1545–BC01 Required: No RIN: 1545–BC04 2654. MISCELLANEOUS CHANGES TO Small Entities Affected: No COLLECTION DUE PROCESS Government Levels Affected: None 2657. DETERMINATION OF BASIS OF PROCEDURES RELATING TO NOTICE OR SECURITIES RECEIVED IN AND OPPORTUNITY FOR HEARING Additional Information: REG-150091-02 EXCHANGE OR WITH RESPECT TO, A UPON FILING OF NOTICE OF LIEN Drafting attorney: Laurence K. Williams STOCK OR SECURITIES IN CERTAIN Priority: Routine and Frequent (202) 622-3600 TRANSACTIONS Legal Authority: 26 USC 6320; 26 USC Reviewing attorney: Alan Levine (202) Priority: Routine and Frequent 6330 622-3610 Legal Authority: 26 USC 358; 26 USC CFR Citation: 26 CFR 301 CC:PA:CBS 7805 Legal Deadline: None Agency Contact: Laurence K. Williams, CFR Citation: 26 CFR 1 Abstract: The IRS is revising the attorney, Department of the Treasury, Legal Deadline: None Internal Revenue Service, 1111 regulations that apply to Collection Due Abstract: Amendment to section 1.358- Constitution Avenue NW., Washington, Process (CDP) and equivalent hearings 2 of the income tax regulation. The DC 20024 under section 6320 involving Federal proposed regulation adopts a tracing Phone: 202 622–3600 tax liens. approach indetermining the basis of Timetable: RIN: 1545–BB97 stock and securites received in transactions under section 355, section Action Date FR Cite 2656. TAX EXEMPT BOND 368, and certain transactions that NPRM 12/00/04 PARTNERSHIP REPORTING qualify under both section 351 and Regulatory Flexibility Analysis REGULATION section 368. Timetable: Required: No Priority: Substantive, Nonsignificant Small Entities Affected: No Legal Authority: 26 USC 6031; 26 USC Action Date FR Cite Government Levels Affected: None 7805; 26 USC 706 NPRM 07/00/04
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TREAS—IRS Proposed Rule Stage
Regulatory Flexibility Analysis Phone: 202 622–3980 Additional Information: REG-124405-03 Required: No RIN: 1545–BC07 Drafting attorney: Eric B. Lee (202) 622- Small Entities Affected: No 3120 Government Levels Affected: None 2659. ENTRY OF TAXABLE FUEL Reviewing attorney: Brenda Stewart (202) 622-3120 Additional Information: REG-116564-03 Priority: Substantive, Nonsignificant Treasury attorney: George Manousos Drafting attorney: Theresa M. Kolish Legal Authority: 26 USC 7805 (202) 622-7530 or Emidio J. Forlini, Jr. (202) 622-1788 CFR Citation: (202) 622-7930 26 CFR 1 CC:PSI Reviewing attorney: Reginald Mombrun Legal Deadline: None Agency Contact: Eric B. Lee, (202) 622-7277 Abstract: The regulations will provide Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Treasury attorney: Audrey Nacamuli rules for payment of tax when taxable 1111 Constitution Avenue NW., (202) 622-5721 fuel is entered by an unregistered person. Washington, DC 20224 CC:COR Timetable: Phone: 202 622–3120 Agency Contact: Theresa M. Kolish, RIN: 1545–BC13 Attorney–Advisor, Department of the Action Date FR Cite Treasury, Internal Revenue Service, NPRM 12/00/04 1111 Constitution Avenue NW, 2661. VALUE OF LIFE INSURANCE Regulatory Flexibility Analysis WHEN DISTRIBUTED FROM A Washington, DC 20224 Required: No Phone: 202 622–7530 QUALIFIED RETIREMENT PLAN Small Entities Affected: No Priority: Substantive, Nonsignificant Emidio J. Forlini Jr., Attorney, Government Levels Affected: None Legal Authority: 26 USC 1 Department of the Treasury, Internal Revenue Service, 1111 Constitution Additional Information: REG-120616-03 CFR Citation: 26 CFR 1 Avenue NW, Washington, DC 20224 Drafting attorney: Celia Gabrysh (202) Legal Deadline: None Phone: 202 622–7930 622-3130 Abstract: These proposed regulations RIN: 1545–BC05 Reviewing attorneys: Frank Boland under section 402(a) of the Internal (202) 622-3130 and Phillip Howard Revenue Code concern the amount (202) 622-3000 includible in a distributee’s income 2658. GENERAL ALLOCATION AND when certain life insurance and annuity ACCOUNTING REGULATIONS Treasury attorney: John Parcell (202) 622-2578 contracts are distributed by a qualified Priority: Substantive, Nonsignificant retirement plan. CC:PSI Legal Authority: 26 USC 7805 Timetable: Agency Contact: Celia A. Gabrysh, CFR Citation: Action Date FR Cite 26 CFR 1 Attorney–Advisor, Department of the Legal Deadline: None Treasury, Internal Revenue Service, NPRM 12/00/04 Abstract: This regulation provides 1111 Constitution Avenue NW, Regulatory Flexibility Analysis rules for the allocation of and Washington, DC 20224 Required: No Phone: 202 622–3130 accounting for bond proceeds for Small Entities Affected: No purposes of determining whether bonds RIN: 1545–BC08 are private activity bonds under section Government Levels Affected: None 141 of the Internal Revenue Code. Additional Information: REG-126967-03 2660. TIMING AND MODIFICATION OF Timetable: THE SECTION 59(E) ELECTION Reviewing attorney: Linda Marshall (202) 622-6090 Action Date FR Cite Priority: Substantive, Nonsignificant Treasury attorney: Harlan Weller (202) NPRM 07/00/04 Legal Authority: 26 USC 59 622-1001 Regulatory Flexibility Analysis CFR Citation: 26 CFR 1 CC:TEGE Required: Undetermined Legal Deadline: None Agency Contact: Linda S.F. Marshall, Government Levels Affected: State Abstract: The regulation will provide Senior Counsel, Department of the Federalism: Undetermined guidance on making a section 59(e) Treasury, Internal Revenue Service, Additional Information: REG-140379-02 election. 1111 Constitution Avenue NW, Washington, DC 20224 Timetable: Drafting attorney: Johanna L. Som de Phone: 202 622–6090 Cerff (202) 622-3980 Action Date FR Cite RIN: 1545–BC20 CC:TEGE NPRM 07/00/04 Agency Contact: Johanna L. Som de Regulatory Flexibility Analysis 2662. UTILITY ALLOWANCE Cerff, Attorney–Advisor, Department of Required: No REGULATION UPDATE the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Small Entities Affected: No Priority: Substantive, Nonsignificant Washington, DC 20224 Government Levels Affected: None Legal Authority: 26 USC 42
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TREAS—IRS Proposed Rule Stage
CFR Citation: 26 CFR 1 Small Entities Affected: No Phone: 202 622–7750 Legal Deadline: None Government Levels Affected: None RIN: 1545–BC29 Abstract: This regulation will modify Additional Information: REG-128590-03 and update utility allowance Drafting attorney: Frances L. Kelly (202) 2665. DEEMED CORPORATE regulations under section 1.142-10, 622-7072 ELECTION FOR ELECTING S which provides for an alternative CORPORATIONS method for computing utility Reviewing attorney: Michael Wilder Priority: allowances under section 1.142- (202) 622-3393 Substantive, Nonsignificant. Major status under 5 USC 801 is 10(b)(4)(ii). Also, the regulation will Treasury attorney: Audrey Nacamuli undetermined. provide for annual updates of utility (202) 622-5721 allowances. Legal Authority: 26 USC 7701; 26 USC CC:COR Timetable: 7805 Agency Contact: Frances L. Kelly, CFR Citation: 26 CFR 1 Action Date FR Cite Attorney–Advisor, Department of the Legal Deadline: None NPRM 12/00/04 Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Abstract: Regulatory Flexibility Analysis The regulation will deem an Washington, DC 20224 S corporation that makes a timely S Required: No Phone: 202 622–7770 Corporation election to have also made Small Entities Affected: No RIN: 1545–BC23 a timely election to be an association Government Levels Affected: None taxed as a corporation under section 301.7701-3(1)(i) to ease the Additional Information: REG-128274-03 2664. SINGLE DETERMINATION OF administrative burden on taxpayers and Drafting attorney: Gregory N. Doran TAX FOR MULTIPLE POOLS OF IRS Service Centers. It will continue (202) 622-3040 ASSETS OF AN S CORPORATION implementation of section 7701 under Reviewing attorney: Harold Burghart Priority: Substantive, Nonsignificant. the secretary’s general section 7805 (202) 622-3040 Major status under 5 USC 801 is regulatory authority. undetermined. Treasury attorney: Bruce Serchuk (202) Timetable: 622-1766 Unfunded Mandates: Undetermined Action Date FR Cite CC:PSI Legal Authority: 26 USC 7805; 26 USC NPRM 10/00/04 1374(e) Agency Contact: Gregory N. Doran, Regulatory Flexibility Analysis Attorney–Advisor, Department of the CFR Citation: 26 CFR 1 Required: No Treasury, Internal Revenue Service, Legal Deadline: None 1111 Constitution Avenue NW, Small Entities Affected: Businesses Washington, DC 20224 Abstract: The proposed regulation will Government Levels Affected: Phone: 202 622–3040 address the determination of tax with Undetermined respect to various pools of assets of an RIN: 1545–BC22 S corporation that is subject to tax Additional Information: REG-131786-03 under section 1374. Drafting attorney: Rebekah A. Myers 2663. SPECIAL CONSOLIDATED Timetable: (202) 622-3050 RETURN RULES FOR INTEREST Action Date FR Cite Reviewing attorney: Dianna Miosi (202) EXPENSE DISALLOWED UNDER 622-3050 SECTION 265(A)(2) NPRM 07/00/04 Treasury attorney: Deborah Harrington Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis (202) 622-1788 Required: No Legal Authority: 26 USC 1502; 26 USC CC:PSI 7701 Small Entities Affected: Businesses Agency Contact: Rebekah A. Myers, CFR Citation: 26 CFR 1 Government Levels Affected: None Attorney–Advisor, Department of the Legal Deadline: None Additional Information: REG-131486-03 Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Abstract: The regulation will address Drafting attorney: Marie Byrne (202) Washington, DC 20224 the treatment of interest income with 622-7750 Phone: 202 622–3050 respect to an intercompany loan when Reviewing attorney: Mark Jennings Related RIN: Related to 1545–BD24 the source of funds is borrowing from (202) 622-7750 a nonmember and there is a RIN: 1545–BC32 disallowance of interest expense under Treasury attorney: Audrey Nacamuli section 265(a)(2). (202) 622-1721 CC:COR 2666. GUIDANCE ON PFIC PURGING Timetable: ELECTIONS Action Date FR Cite Agency Contact: Marie Byrne, Attorney–Advisor, Department of the Priority: Substantive, Nonsignificant. NPRM 07/00/04 Treasury, Internal Revenue Service, Major status under 5 USC 801 is Regulatory Flexibility Analysis 1111 Constitution Avenue NW, undetermined. Required: No Washington, DC 20224 Unfunded Mandates: Undetermined
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TREAS—IRS Proposed Rule Stage
Legal Authority: 26 USC 7805 475; and 3) the application of the mark- CC:PSI CFR Citation: 26 CFR 1 to-market rules for traders that trade both securities and commodities in a Agency Contact: Mayer R. Samuels, Legal Deadline: None single business. Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Abstract: These proposed regulations Timetable: will provide guidance regarding 1111 Constitution Avenue NW, retroactive relief for taxpayers, who in Action Date FR Cite Washington, DC 20224 Phone: 202 622–7265 limited circumstances, continue to be NPRM 07/00/04 subject to the PFIC excess distribution Regulatory Flexibility Analysis RIN: 1545–BC50 regime of section 1291 although the Required: No foreign corporation in which they own stock is no longer treated as a PFIC Small Entities Affected: No 2669. STEWARDSHIP EXPENSES under section 1298 or section 1297(e). Government Levels Affected: None Priority: Substantive, Nonsignificant. Timetable: Additional Information: REG-135660-03 Major status under 5 USC 801 is undetermined. Action Date FR Cite Drafting attorney: Camille B. Evans NPRM 12/00/04 (202) 622-3800 Legal Authority: 26 USC 7805 Reviewing attorney: Paul S. Epstein Regulatory Flexibility Analysis CFR Citation: 26 CFR 1 Required: No (202) 622-3870 Small Entities Affected: No Treasury attorney: Andrew Froberg Legal Deadline: None (202) 622-1779 Government Levels Affected: None Abstract: The current regulations under CC:INTL section 1.861-8(e)(4), titled Additional Information: REG-133446-03 Agency Contact: Camille B. Evans, ‘‘Stewardship Expenses Attributable to Drafting attorney: Alexandra K. Helou Attorney–Advisor, Department of the Dividends Received,’’ are confusing and (202) 622-3840 Treasury, Internal Revenue Service, subject to misuse by taxpayers. In Reviewing attorney: Valerie A. Mark 1111 Constitution Avenue NW, conjunction with the proposed services Lippe (202) 622-3840 Washington, DC 20224 regulations under section 482, it is proposed to revise these regulations to Treasury attorney: Michael Caballero Phone: 202 622–3800 clarify the parameters of stewardship (202) 622-0851 RIN: 1545–BC48 expenses, thereby demarcating them CC:INTL from shareholder activities under Agency Contact: Alexandra K. Helou, 2668. QUALIFIED SEVERANCE section 482 and supportive expenses Attorney–Advisor, Department of the REGULATIONS under section 1.861-8T(b)(3). Treasury, Internal Revenue Service, Priority: Substantive, Nonsignificant. Timetable: 1111 Constitution Avenue NW, Major status under 5 USC 801 is Action Date FR Cite Washington, DC 20224 undetermined. Phone: 202 622–3840 NPRM 12/00/04 Legal Authority: 26 USC 2642(a)(3)(C) RIN: 1545–BC37 CFR Citation: 26 CFR 26 Regulatory Flexibility Analysis Required: No 2667. ADDITIONAL GUIDANCE Legal Deadline: None REGARDING MARK–TO–MARKET Abstract: This regulation relates to Small Entities Affected: No ACCOUNTING FOR TRADERS IN generation-skipping transfer tax Government Levels Affected: None SECURITIES AND/OR COMMODITIES, consequences of a qualified severance INCLUDING FOREIGN CURRENCY of a trust. Additional Information: REG-138603-03 INSTRUMENTS Timetable: Drafting attorney: Teresa B. Hughes Priority: Substantive, Nonsignificant. Action Date FR Cite (202) 622-3850 Major status under 5 USC 801 is undetermined. NPRM 12/00/04 Reviewing attorney: Anne Devereaux (202) 622-3850 Legal Authority: 26 USC 7805; 26 USC Regulatory Flexibility Analysis 988(a)(1)(B) Required: No Treasury attorney: Rocco Femia (202) CFR Citation: 26 CFR 1 Small Entities Affected: No 622-1755 Legal Deadline: None Government Levels Affected: None CC:INTL Additional Information: REG-145987-03 Abstract: This regulation provides Agency Contact: Teresa B. Hughes, additional rules relating to the trader Drafting attorney: Mayer R. Samuels Attorney–Advisor, Department of the mark-to-market election: 1) the (202) 622-7265 Treasury, Internal Revenue Service, coordination of income character rules 1111 Constitution Avenue NW, of the mark-to-market regime with the Reviewing attorney: George Masnik (202) 622-3618 Washington, DC 20224 capital election under section Phone: 202 622–3850 988(a)(1)(B); 2) the definition of Treasury attorney: Catherine Hughes commodities for purposes of section (202) 622-9407 RIN: 1545–BC52
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TREAS—IRS Proposed Rule Stage
2670. COORDINATION OF UNITED 2671. GUIDANCE UNDER SECTION Regulatory Flexibility Analysis STATES AND CERTAIN 2053 REGARDING POST–DEATH Required: No POSSESSIONS INCOME TAXES EVENTS Small Entities Affected: No Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant. Government Levels Affected: None Unfunded Mandates: Undetermined Major status under 5 USC 801 is undetermined. Additional Information: REG-145988-03 Legal Authority: 26 USC 7805 Legal Authority: 26 USC 7805 Drafting attorney: Lian A. Mito (202) CFR Citation: 26 CFR 1; 26 CFR 301 622-3719 CFR Citation: 26 CFR 20 Legal Deadline: None Reviewing attorney: James F. Hogan Legal Deadline: None (202) 622-3012 Abstract: The regulations for section 7654 (1954 Code) will revise existing Abstract: These regulations relate to Treasury attorney: Catherine Hughes regulations for clarification and the the amount deductible under section (202) 622-9407 regulations for section 7654 (1986 2053(a)(3) of the Internal Revenue CC:PSI Code. The regulations will affect estates Code) will be new. Internal Revenue Agency Contact: Lian A. Mito, Code (IRC) section 7654 contains the of decedents where claims exist against the decedent’s estate. Attorney–Advisor, Department of the provisions for cover-over to the U.S. Treasury, Internal Revenue Service, Possessions. Old section 7654 (1954 Timetable: 1111 Constitution Avenue NW, Code) continues to be applicable to Action Date FR Cite Washington, DC 20224 Guam and the Commonwealth of the Phone: 202 622–7830 Northern Mariana Islands (CNMI) NPRM 12/00/04 RIN: 1545–BC60 because these two possessions do not Regulatory Flexibility Analysis have an effective implementing Required: No agreement with the United States as Small Entities Affected: No 2673. QUALIFIED ZONE ACADEMY required by the Tax Reform Act of BONDS; OBLIGATIONS OF STATES 1986. Regulations are necessary for Government Levels Affected: AND POLITICAL SUBDIVISIONS consistent and correct application of Undetermined section 7654. For example, cover-over Priority: Substantive, Nonsignificant. Federalism: Undetermined for (Armed Forces) residents of the Major status under 5 USC 801 is possessions stationed outside the Additional Information: REG-143316-03 undetermined. possessions are not specifically Drafting attorney: DeAnn K. Malone Unfunded Mandates: Undetermined addressed in the 1954 Code, and (202) 622-3112 Legal Authority: 26 USC 7805 neither is cover-over for Federal employees residing in U.S. Possessions. Reviewing attorney: Melissa Liquerman CFR Citation: 26 CFR 1 Regulations are needed to carry out the (202) 622-7830 Legal Deadline: None provisions of section 7654 and sections Treasury attorney: Cathy Hughes (202) Abstract: The regulations will provide 931, 932, and 935. 622-9407 for permissible use of proceeds and Timetable: CC:PSI will coordinate and make consistent Action Date FR Cite Agency Contact: DeAnn K. Malone, provisions regarding determination of credit rate and maturity date. It will NPRM 12/00/04 Attorney–Advisor, Department of the Treasury, Internal Revenue Service, provide for remedial action in case of Regulatory Flexibility Analysis 1111 Constitution Avenue NW, change in use of bond proceeds. Required: Undetermined Washington, DC 20224 Timetable: Government Levels Affected: None Phone: 202 622–3112 Action Date FR Cite Additional Information: REG-139900-03 RIN: 1545–BC56 NPRM 03/26/04 69 FR 15747 Drafting attorney: Mae J. Lew (202) 435- Public Hearing 07/21/04 5262 2672. PREDECEASED PARENT RULE Final Action 12/00/04 Reviewing attorney: Ricardo A. Cadenas Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis (202) 435-5262 Required: No Legal Authority: 26 USC 2651 Treasury attorney: Carl Dubert (202) Small Entities Affected: Governmental CFR Citation: 26 CFR 26 622-1765 Jurisdictions Legal Deadline: None CC:INTL Government Levels Affected: Local, Abstract: State Agency Contact: Mae J. Lew, The proposed regulation will Attorney–Advisor, Department of the provide guidance on the predeceased Additional Information: REG-121475-03 parent rule in section 2651(e) and Treasury, Internal Revenue Service, Drafting attorney: Zoran Stojanovic amend the regulations under section 1111 Constitution Avenue NW, (202) 622-4096 26.2612-1(a)(2). Washington, DC 20224 Reviewing attorney: Timothy L. Jones Timetable: Phone: 202 435–5262 (202) 622-3701 Related RIN: Related to 1545–BD32 Action Date FR Cite Treasury attorney: Stephen Watson RIN: 1545–BC54 NPRM 07/00/04 (202) 622-1322
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TREAS—IRS Proposed Rule Stage
CC:TEGE CFR Citation: 26 CFR 1 Additional Information: REG-149524-03 Agency Contact: Zoran Stojanovic, Legal Deadline: None Drafting attorney: Pietro E. Canestrelli Attorney–Advisor, Department of the Abstract: These modifications to (202) 622-3060 Treasury, Internal Revenue Service, regulations under section 751 require 1111 Constitution Avenue NW, Reviewing attorney: David Haglund a redeeming partner to take hot assets (202) 622-3050 Washington, DC 20224 with built-in gain equal to the partner’s Phone: 202 622–4096 proportionate share of the total hot Treasury attorney: Deborah Harrington Related RIN: Related to 1545–BC68 asset appreciation in the partnership, (202) 622-1788 regardless of fair market value. RIN: 1545–BC61 CC:PSI Timetable: Agency Contact: Pietro E. Canestrelli, 2674. GUIDANCE UNDER SECTION Action Date FR Cite Attorney–Advisor, Department of the 707 REGARDING DISGUISED SALES NPRM 12/00/04 Treasury, Internal Revenue Service, Priority: Substantive, Nonsignificant. Regulatory Flexibility Analysis 1111 Constitution Avenue NW, Major status under 5 USC 801 is Required: No Washington, DC 20224 undetermined. Phone: 202 622–3060 Small Entities Affected: No Legal Authority: RIN: 1545–BC66 26 USC 707; 26 USC Government Levels Affected: 7805 Undetermined CFR Citation: 2677. SECTION 1045 APPLICATION TO 26 CFR 1 Additional Information: REG-149610-03 PARTNERSHIPS Legal Deadline: None Drafting attorney: Jason T. Smyczek Abstract: This regulation will provide (202) 622-3050 Priority: Substantive, Nonsignificant. guidance regarding disguised sales of Major status under 5 USC 801 is Reviewing attorney: Dan Carmody (202) undetermined. partnership interests. 622-3050 Timetable: Treasury attorney: Deborah Harrington Legal Authority: 26 USC 7805 Action Date FR Cite (202) 622-1788 CFR Citation: 26 CFR 1 NPRM 07/00/04 CC:PSI Legal Deadline: None Regulatory Flexibility Analysis Agency Contact: Jason T. Smyczek, Abstract: This regulation will provide Required: No Attorney–Advisor, Department of the Treasury, Internal Revenue Service, guidance on how the capital gains Small Entities Affected: No 1111 Constitution Avenue NW, rollover provision of section 1045 Government Levels Affected: None Washington, DC 20224 applies to partnerships. Additional Information: REG-149519-03 Phone: 202 622–3050 Timetable: Drafting attorney: James M. Gergurich RIN: 1545–BC65 Action Date FR Cite (202) 622-3070 NPRM 07/00/04 Reviewing attorney: Christine Ellison 2676. LIFO RECAPTURE UNDER SECTION 1362(D) Regulatory Flexibility Analysis (202) 622-3080 Required: Undetermined Treasury attorney: Stephanie Robinson Priority: Substantive, Nonsignificant. (202) 622-7858 Major status under 5 USC 801 is Government Levels Affected: undetermined. Undetermined CC:PSI Legal Authority: 26 USC 1363 Additional Information: REG-150562-03 Agency Contact: James M. Gergurich, Attorney–Advisor, Department of the CFR Citation: 26 CFR 1 Drafting attorney: Charlotte Chyr (202) Treasury, Internal Revenue Service, Legal Deadline: None 622-3070 and Jian Grant (202) 622-3050 1111 Constitution Avenue NW, Abstract: Section 1363(d) provides for Reviewing attorneys: James Quinn (202) Washington, DC 20224 the recapture of LIFO benefits when a 622-3070 and Mary Beth Collins (202) Phone: 202 622–3070 corporation elects S corporation status. 622-3070 RIN: 1545–BC63 This project addresses the treatment LIFO inventor held though Treasury attorney: Deborah Harrington (202) 622-1788 2675. PARTNERSHIPS AND DEEMED partnerships. DISPOSITIONS OF UNREALIZED Timetable: CC:PSI RECEIVABLES AND INVENTORY Action Date FR Cite Agency Contact: Charlotte Chyr, ITEMS NPRM 12/00/04 Attorney–Advisor, Department of the Priority: Substantive, Nonsignificant. Treasury, Internal Revenue Service, Major status under 5 USC 801 is Regulatory Flexibility Analysis 1111 Constitution Avenue NW, undetermined. Required: No Washington, DC 20224 Phone: 202 622–3070 Legal Authority: 26 USC 751; 26 USC Small Entities Affected: No 7805 Government Levels Affected: None RIN: 1545–BC67
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TREAS—IRS Proposed Rule Stage
2678. SECTION 179 ELECTIONS Small Entities Affected: No 6343, when the release occurs after the (TEMPORARY) Government Levels Affected: None expiration of the original 10-year Priority: statutory collection period. Also, the Substantive, Nonsignificant. Additional Information: REG-154077-03 Major status under 5 USC 801 is revised regulations will discuss the undetermined. Drafting attorney: Arturo Estrada (202) continued validity of extension 622-3900 agreements executed prior to January 1, Legal Authority: 26 USC 202 2000. Reviewing attorney: Dale Collinson CFR Citation: 26 CFR 1 (202) 622-3900 Timetable: Legal Deadline: None Treasury attorney: Viva Hammer (202) Action Date FR Cite Abstract: This regulation will provide 622-0869 NPRM 07/00/04 guidance for making and revoking elections under section 179, effective CC:FI Regulatory Flexibility Analysis for 2003. Agency Contact: Arturo Estrada, Required: No Timetable: Attorney–Advisor, Department of the Small Entities Affected: No Treasury, Internal Revenue Service, Government Levels Affected: None Action Date FR Cite 1111 Constitution Avenue NW, Additional Information: Temporary 07/00/04 Washington, DC 20224 REG-148701-03 Regulations Phone: 202 622–3900 Drafting attorney: Aaron D. Gregory Regulatory Flexibility Analysis RIN: 1545–BC71 (202) 622-3620 Required: Undetermined Reviewing attorney: Fredrick W. Schindler (202) 622-3620 Government Levels Affected: 2680. COLLECTION AFTER Undetermined ASSESSMENT Treasury attorney: Julian Kim (202) 622-1981 Additional Information: REG-152549-03 Priority: Substantive, Nonsignificant. Drafting attorney: Winston H. Douglas Major status under 5 USC 801 is CC:PA:CBS (202) 622-3110 undetermined. Agency Contact: Aaron D. Gregory, Reviewing attorney: Mark Pitzer (202) Unfunded Mandates: Undetermined Attorney–Advisor, Department of the 622-3110 Treasury, Internal Revenue Service, Legal Authority: 26 USC 7805; 26 USC 1111 Constitution Avenue NW, Treasury attorney: George Manousos 6502 Washington, DC 20224 (202) 622-1335 CFR Citation: 26 CFR 1 Phone: 202 622–3620 CC:PSI Fax: 2026228882 Legal Deadline: None Agency Contact: Winston H. Douglas, RIN: 1545–BC72 Abstract: The Internal Revenue Service Attorney–Advisor, Department of the Restructuring and Reform Act of 1998 Treasury, Internal Revenue Service, (RRA ‘98) section 3461 amended 2681. • BELOW–MARKET LOANS 1111 Constitution Avenue NW, section 6502 of the Code to limit the Washington, DC 20224 Priority: Substantive, Nonsignificant. ability of the Service to enter into Phone: 202 622–3110 Major status under 5 USC 801 is agreements extending the collection undetermined. RIN: 1545–BC69 statute. RRA ‘98 also included an off- Legal Authority: 26 USC 7805; 26 USC Code ‘‘sunset’’ provision governing the 7872(h) 2679. REAL ESTATE MORTGAGE continued effect of collection statute CFR Citation: 26 CFR 7872 INVESTMENT CONDUIT (REMIC) extension agreements executed prior to TETRA RULES January 1, 2000, the effective date of Legal Deadline: None this section. The current regulations Priority: Info./Admin./Other. Major Abstract: The proposed regulations under section 6502 have not been related to the Federal income tax status under 5 USC 801 is updated to reflect these changes to the undetermined. consequences of certain below-market section. The current regulations provide loans. Legal Authority: 26 USC 860F that extension agreements may be Timetable: CFR Citation: 26 CFR 1 executed anytime prior to the expiration of the original statutory Action Date FR Cite Legal Deadline: None collection period. Abstract: NPRM 07/00/04 The proposed regulation The revised regulations will incorporate relates to the application of partnership Regulatory Flexibility Analysis the changes imposed by RRA ‘98 and Required: No audit procedures to disputes regarding will provide in part that the only two the ownership of residual interests in circumstances under which an Small Entities Affected: No a REMIC. agreement extending the collecting Government Levels Affected: None Timetable: period may be executed are: (1) when Additional Information: REG-209226-84 Action Date FR Cite the extension agreement is executed in connection with an Installment Drafting attorney: Rebecca E. Asta (202) NPRM 07/00/04 Agreement; and (2) when the extension 622-3930 Regulatory Flexibility Analysis agreement is executed prior to a levy Reviewing attorney: David Silber (202) Required: No being released pursuant to section 622-3930
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TREAS—IRS Proposed Rule Stage
Treasury attorney: Viva Hammer (202) 2683. • STUDENT FICA GUIDANCE Small Entities Affected: No 622-0869 Priority: Substantive, Nonsignificant Government Levels Affected: None CC:FI Legal Authority: 26 USC 312(b)(10); 26 Additional Information: REG-159869-03 USC 7805 Agency Contact: Rebecca E. Asta, Drafting attorney: Mary Brewer (202) Attorney–Advisor, Department of the CFR Citation: 26 CFR 1 622-3950 Treasury, Internal Revenue Service, Legal Deadline: None 1111 Constitution Avenue NW, Abstract: The proposed regulations Reviewing attorney: Christina Morrison Washington, DC 20224 defining ‘‘school, college, or university’’ (202) 622-3950 Phone: 202 622–3930 for purposes of section 312(b)(10). The CC:FI RIN: 1545–BC78 regulations defining ‘‘student’’ for purposes of section 312(b)(10). Agency Contact: Mary Brewer, Timetable: Attorney–Advisor, Department of the 2682. • INFORMATION REPORTING Treasury, Internal Revenue Service, RELATING TO TAXABLE STOCK Action Date FR Cite 1111 Constitution Avenue NW, TRANSACTIONS NPRM 12/00/04 Washington, DC 20224 Phone: 202 622–3950 Priority: Substantive, Nonsignificant. Regulatory Flexibility Analysis Major status under 5 USC 801 is Required: No RIN: 1545–BC83 undetermined. Small Entities Affected: No Legal Authority: 26 USC 6043; 26 USC Government Levels Affected: None 2685. • NIMCRUT VALUATION 6045 Additional Information: REG-156421-03 REGULATIONS CFR Citation: 26 CFR 1 Drafting attorney: John B. Richards Priority: Substantive, Nonsignificant. (202) 622-6040 Major status under 5 USC 801 is Legal Deadline: None Treasury attorney: Kevin Knopf (202) undetermined. Abstract: These proposed regulations 622-2329 Legal Authority: 26 USC 664; 26 USC under sections 6043 and 6045 require 7805 information reporting by corporations CC:TEGE and brokers with respect to corporate Agency Contact: John B. Richards, CFR Citation: 26 CFR 1 acquisitions of control and substantial Senior Counsel, Department of the Legal Deadline: changes in capital structure. The notice Treasury, Internal Revenue Service, None of proposed rulemaking cross- 1111 Constitution Avenue NW, Abstract: The proposed regulation references temporary regulations and Washington, DC 20224 would change the valuation of assets also withdraws previous proposed rules Phone: 202 622–6040 held in a NIMCRUT under section (67 FR 69496; RIN 1545-BB60). RIN: 1545–BC81 1.664-3(a)(1)(iv). Timetable: Timetable: • Action Date FR Cite 2684. DEFINITION OF LOSS FOR Action Date FR Cite PURPOSES OF THE STRADDLE NPRM 12/00/04 RULES NPRM 12/00/04 Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant. Regulatory Flexibility Analysis Required: No Major status under 5 USC 801 is Required: Undetermined undetermined. Small Entities Affected: No Government Levels Affected: None Legal Authority: 26 USC 7805; 26 USC Government Levels Affected: None 1092 Additional Information: REG-160150-03 Additional Information: REG-156232-03 CFR Citation: 26 CFR 1 Drafting attorney: Juli Ro Kim (202) 622-3090 Drafting attorney: Nancy L. Rose (202) Legal Deadline: None 622-4910 Abstract: This regulation expands the Reviewing attorney: Melissa Liquerman definition of the term ‘‘loss’’ for (202) 622-4433 CC:PA:APJ purposes of sections 1092 and 263(g) Treasury attorney: Catherine Hughes Agency Contact: Nancy L. Rose, to include otherwise deductible (202) 622-9407 Attorney–Advisor, Department of the payments or accruals determined with Treasury, Internal Revenue Service, respect to changes in the capital value CC:PSI 1111 Constitution Avenue NW, of offsetting positions in a straddle that Washington, DC 20224 lacks a capital investment.‘‘ Agency Contact: Juli Ro Kim, Phone: 202 622–4910 Timetable: Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Related RIN: Related to 1545–BB40, Action Date FR Cite 1111 Constitution Avenue NW, Related to 1545–BB60, Related to NPRM 12/00/04 Washington, DC 20224 1545–BC79 Phone: 202 622–3090 Regulatory Flexibility Analysis RIN: 1545–BC80 Required: No RIN: 1545–BC85
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TREAS—IRS Proposed Rule Stage
2686. • DETERMINATION OF 401(k) plan to treat employees of an Government Levels Affected: None RESIDENCY IN U.S. POSSESSIONS organization described in section Additional Information: REG-163314-03 Priority: Substantive, Nonsignificant 501(c)(3), which is exempt from tax under section 501(a), who are eligible Drafting attorney: Jean R. Brenner (202) Legal Authority: Not Yet Determined to make salary reduction contributions 622-7790 CFR Citation: 26 CFR 1 to a tax-sheltered annuity pursuant to Reviewing attorneys: Victor L. Penico Legal Deadline: None section 403(b) (a section 403(b) annuity) as excludable employees for and Lisa Fuller (202) 622-7750 Abstract: This regulation will address the purpose of testing whether such Treasury attorney: Audrey Nacamuli the determination of residency in U.S. plans meet the minimum coverage (202) 622-5721 possessions. requirements specified in section CC:COR Timetable: 410(b). Congress ordered a modification of the current rule in the Economic Action Date FR Cite Agency Contact: Jean R. Brenner, Growth and Tax Relief Reconciliation Attorney–Advisor, Department of the NPRM 12/00/04 Act of 2001 (Pub. L. 107-16, 115 Stat. Treasury, Internal Revenue Service, Regulatory Flexibility Analysis 38). 1111 Constitution Avenue NW, Required: No Timetable: Washington, DC 20224 Phone: 202 622–7790 Small Entities Affected: No Action Date FR Cite RIN: 1545–BC88 Government Levels Affected: None NPRM 12/00/04 Federalism: Undetermined Regulatory Flexibility Analysis 2689. • PAYMENTS IN THE NATURE Additional Information: Required: Undetermined REG-159243-03 OF WORKERS COMPENSATION Drafting attorney: M. Grace Fleeman Government Levels Affected: None Priority: Substantive, Nonsignificant (202) 622-3880. Additional Information: REG-149752-03 Reviewing attorney: W. Edward Drafting attorney: Stacey G. Grundman Legal Authority: 26 USC 7805 Williams (202) 622-3880 (202) 622-6090 CFR Citation: 26 CFR 1 Treasury attorney: Carl Dubert (202) Reviewing attorney: Lisa Mojiri-Azad Legal Deadline: None 622-0222 (202) 622-6060 Abstract: CC:INTL The proposed rulemaking Treasury attorney: W. Thomas Reeder will exclude payments made pursuant Agency Contact: M. Grace Fleeman, (202) 622-1341 to statutes in the nature of workers’ Senior Counsel, Department of the CC:TEGE compensation law from the definition Treasury, Internal Revenue Service, Agency Contact: Stacey G. Grundman, of wages as defined in I.R.C. 3121(a). 1111 Constitution Avenue NW, Attorney–Advisor, Department of the Washington, DC 20224 Timetable: Treasury, Internal Revenue Service, Phone: 202 622–3880 1111 Constitution Avenue NW, Action Date FR Cite W. Edward Williams, Senior Technical Washington, DC 20224 NPRM 12/00/04 Phone: 202 622–6090 Reviewer, Department of the Treasury, Regulatory Flexibility Analysis Internal Revenue Service, 1111 RIN: 1545–BC87 Required: No Constitution Avenue NW, Washington, Small Entities Affected: No DC 20224 2688. • TRANSACTIONS INVOLVING Phone: 202 622–3880 THE TRANSFER OF NO NET EQUITY Government Levels Affected: Local, RIN: 1545–BC86 VALUE State Priority: Substantive, Nonsignificant Additional Information: REG-160315-03 2687. • EXCLUSION OF EMPLOYEES Legal Authority: 26 USC 7805; 26 USC Drafting attorney: David R. Ford (202) OF 501(C)(3) ORGANIZATION IN 351 622-6040 401(K) AND 401(M) PLANS CFR Citation: 26 CFR 1 Reviewing attorney: Marie Cashman Priority: Substantive, Nonsignificant Legal Deadline: None (202) 622-6040 Legal Authority: 26 USC 7805 Abstract: These regulations will Treasury attorney: Kevin Knopf (202) CFR Citation: 26 CFR 1 provide guidance regarding the 622-2329 application of sections 332, 351, and Legal Deadline: None CC:TEGE 368 in certain transactions involving Abstract: This action amends the insolvent corporations. Agency Contact: David R. Ford, Income Tax Regulations (26 CFR part Attorney–Advisor, Department of the 1) under section 410(b) of the Internal Timetable: Treasury, Internal Revenue Service, Revenue Code of 1986 (Code). The Action Date FR Cite 1111 Constitution Avenue NW, proposed amendments would allow a Washington, DC 20224 section 401(k) plan or a section 401(m) NPRM 07/00/04 Phone: 202 622–6040 plan that is provided under the same Regulatory Flexibility Analysis general arrangement as the section Required: Undetermined RIN: 1545–BC89
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TREAS—IRS Proposed Rule Stage
2690. • DISCLOSURES TO Regulatory Flexibility Analysis 2693. • ACCUMULATED ADJUSTMENT SUBCONTRACTORS Required: No ACCOUNT AND OTHER CORPORATE SEPARATIONS UNDER SECTION 355 Priority: Substantive, Nonsignificant. Small Entities Affected: No Major status under 5 USC 801 is Priority: Substantive, Nonsignificant. undetermined. Government Levels Affected: None Major status under 5 USC 801 is Unfunded Mandates: Undetermined Additional Information: REG-148864-03 undetermined. Legal Authority: Legal Authority: 26 USC 6103 Drafting attorney: Joseph E. Conley 26 USC 7805 CFR Citation: 26 CFR 301 (202) 622-4580 CFR Citation: 26 CFR 1 Legal Deadline: None CC:PA:DPL Legal Deadline: None Abstract: Proposed rule to amend Agency Contact: Joseph E. Conley, Abstract: These proposed regulation existing regulations on disclosure of Attorney–Advisor, Department of the will amend the current regulations returns and return information in Treasury, Internal Revenue Service, under section 1.368-2 in order to connection with procurement of 1111 Constitution Avenue NW, address the proper treatment of an S property and services for tax Washington, DC 20224 corporations accumulated adjustment administration purposes. Phone: 202 622–4580 account in a section 355 transaction not Timetable: preceded by a section 368(a)(1(D) RIN: 1545–BC93 reorganization. Action Date FR Cite Timetable: NPRM 07/00/04 2692. • GUIDANCE REGARDING THE Action Date FR Cite Regulatory Flexibility Analysis ACTIVE TRADE OR BUSINESS Required: No REQUIREMENT UNDER SECTION NPRM 12/00/04 Small Entities Affected: No 355(B) Regulatory Flexibility Analysis Government Levels Affected: None Priority: Substantive, Nonsignificant. Required: No Additional Information: REG-148867-03 Major status under 5 USC 801 is Small Entities Affected: No undetermined. Drafting attorney: Helene R. Newsome Government Levels Affected: None Legal Authority: (202) 622-4570 26 USC 7805 Additional Information: REG-168722-03 Reviewing attorney: Gerald R. Ryan CFR Citation: 26 CFR 1 Drafting attorney: Christopher L. Trump (202) 622-4570 Legal Deadline: None (202) 622-3070 Treasury attorney: Eric San Juan (202) Reviewing attorney: James Quinn (202) 622-0224 Abstract: The proposed rulemaking 622-3070 CC:PA:DPL will provide guidance regarding the active trade or business requirement CC:PSI Agency Contact: Helene R. Newsome, under section 355(b). Attorney–Advisor, Department of the Agency Contact: Christopher L. Treasury, Internal Revenue Service, Timetable: Trump, Attorney–Advisor, Department of the Treasury, Internal Revenue 1111 Constitution Avenue NW, Action Date FR Cite Washington, DC 20224 Service, 1111 Constitution Avenue NW, Phone: 202 622–4570 NPRM 12/00/04 Washington, DC 20224 Phone: 202 622–3080 RIN: 1545–BC92 Regulatory Flexibility Analysis Required: No RIN: 1545–BC98 2691. • REVISION OF SECTION Small Entities Affected: No 301.6103(J)–1 FOR DISCLOSURE TO 2694. • ATTAINED AGE OF THE Government Levels Affected: None THE BUREAU OF ECONOMIC INSURED ANALYSIS, DEPARTMENT OF Additional Information: REG-123365-03 Priority: Substantive, Nonsignificant. COMMERCE Drafting attorney: Russell P. Subin Major status under 5 USC 801 is Priority: Substantive, Nonsignificant (202) 622-7790 undetermined. Legal Authority: 26 USC 6103 Legal Authority: 26 USC 7805 Reviewing attorney: Richard Coss (202) CFR Citation: 26 CFR 1 622-7790 CFR Citation: 26 CFR 1 Legal Deadline: None CC:COR Legal Deadline: None Abstract: This regulation concerns the Agency Contact: Abstract: The proposed regulations disclosure of corporate tax information Russell P. Subin, Attorney–Advisor, Department of the define the age of the insured to be used to the Bureau of Economic Analysis, by the insurance companies for the Department of Commerce. Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, cash value corridor and maturity date Timetable: Washington, DC 20224 assumption required to determine if a Phone: 202 622–7790 contract insuring more than one life Action Date FR Cite qualifies as a life insurance contract for NPRM 12/00/04 RIN: 1545–BC94 Federal income tax purposes.
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TREAS—IRS Proposed Rule Stage
Timetable: Phone: 202 622–4910 IRAs pursuant to IRC section 408. Action Date FR Cite RIN: 1545–BD01 Proposed regulations providing guidance with respect to section 408(q) NPRM 11/00/04 were published in the Federal Register Regulatory Flexibility Analysis 2696. • TREATMENT OF FOREIGN on May 20, 2003, and the final Required: No STAPLED CORPORATION regulations are expected to be Small Entities Affected: No Priority: Substantive, Nonsignificant published on or before March 31, 2004. Deemed IRAs must satisfy the Government Levels Affected: None Legal Authority: 26 USC 7805; 26 USC requirements of section 408(a) except Additional Information: REG-168892-03 269B for the commingling requirements of Drafting attorney: Ann H. Logan (202) CFR Citation: 26 CFR 1 section 408(a)(5). Consistent with this 622-3970 Legal Deadline: None general rule, section 1.408(q)-1(f)(1) of the proposed regulations provides that Reviewing attorney: Donald Drees (202) Abstract: This project will provide the trustee or custodian of an 622-3970 regulatory guidance to implement individual retirement account must be CC:FI Notice 2003-50. a bank or an entity that received Agency Contact: Ann H. Logan, Timetable: approval from the Commissioner to serve as a nonbank trustee, pursuant to Attorney–Advisor, Department of the Action Date FR Cite Treasury, Internal Revenue Service, section 1.408-2(e) of the regulations. 1111 Constitution Avenue NW, NPRM 07/00/04 IRC section 1.408-2(e)(1) provides that Washington, DC 20224 Regulatory Flexibility Analysis an entity must demonstrate by written Phone: 202 622–3970 Required: No application that the requirements of paragraphs (e)(2) to (e)(6) of that RIN: 1545–BD00 Small Entities Affected: No regulation will be met in order to Government Levels Affected: None qualify as a nonbank trustee. The new 2695. • SUPPORT TEST IN THE CASE Additional Information: REG-101282-04 regulation will provide that OF A CHILD OF DIVORCED PARENTS governmental entities need not Drafting attorney: Richard L. Osborne demonstrate that all of these Priority: Substantive, Nonsignificant. (202)622-3860 requirements will be met with respect Major status under 5 USC 801 is to any deemed IRAs maintained by that undetermined. Reviewing attorney: Robert W. Lorence (202) 622-3860 governmental entity. The new Legal Authority: 26 USC 152 regulation will provide that a Treasury attorney: Michael Cabellero CFR Citation: governmental entity must demonstrate 26 CFR 1 (202) 622-0851 Legal Deadline: None in writing to the satisfaction of the CC:INTL Commissioner that the entity will Abstract: These proposed regulation Agency Contact: Robert W. Lorence, administer the trust in a manner that will amend section 1.152-4 to delete Senior Counsel, Department of the is consistent with the requirements of obsolete provisions, update other Treasury, Internal Revenue Service, section 408. provisions, and clarify the definition of 1111 Constitution Avenue NW, ‘‘custody.’’ It will incorporate the Timetable: Washington, DC 20224 guidance provided in section 1.152-4T Phone: 202 622–3860 Action Date FR Cite and provide additional guidance on the release of a custodial parent’s claim to RIN: 1545–BD05 Temporary Regulation 07/00/04 exemption. Regulatory Flexibility Analysis Timetable: 2697. • DEEMED IRAS IN Required: No Action Date FR Cite GOVERNMENTAL PLANS/QUALIFIED Small Entities Affected: No NONBANK TRUSTEE RULES NPRM 07/00/04 (TEMPORARY) Government Levels Affected: None Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant Additional Information: REG-101447-04 Required: No Legal Authority: 26 USC 408 Drafting attorney: Linda L. Conway Small Entities Affected: No CFR Citation: (202) 622-3051 Government Levels Affected: 26 CFR 1 Undetermined Legal Deadline: None Reviewing attorney: Janet A. Laufer (202) 622-6090 Additional Information: REG-149856-03 Abstract: Under IRC section 408(q), a Drafting attorney: Victoria J. Driscoll qualified employer plan (plans Treasury attorney: W. Thomas Reeder (202) 622-4910 described in sections 401(a) of the (202) 622-1341 Code, 403(a), 403(b), and governmental CC:TEGE CC:ITA plans under section 457(b)) may permit Agency Contact: Victoria J. Driscoll, employees to make voluntary employee Agency Contact: Linda L. Conway, Attorney–Advisor, Department of the contributions to a ‘‘deemed IRA,’ i.e., Attorney–Advisor, Department of the Treasury, Internal Revenue Service, separate account or annuity established Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, under the plan. Generally, these 1111 Constitution Avenue, NW, Washington, DC 20224 accounts or annuities are treated as Washington, DC 20224
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TREAS—IRS Proposed Rule Stage
Phone: 202 622–6090 respect to dual consolidated losses Treasury, Internal Revenue Service, Related RIN: Related to 1545–BD07 under section 1503(d). 1111 Constitution Avenue NW, Timetable: Washington, DC 20224 RIN: 1545–BD08 Phone: 202 622–6090 Action Date FR Cite RIN: 1545–BD13 2698. • PUBLIC INSPECTION OF NPRM 07/00/04 WRITTEN DETERMINATIONS UNDER Regulatory Flexibility Analysis 2701. • CURRENT LIABILITY SECTION 6110 OF THE INTERNAL Required: No REVENUE CODE (TEMPORARY) INTEREST RATE UNDER SECTION Small Entities Affected: Businesses 412(B)(5) (TEMPORARY) Priority: Substantive, Nonsignificant Government Levels Affected: None Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 Additional Information: REG-102144-04 Legal Authority: 26 USC 7805; 26 USC CFR Citation: 26 CFR 301 412(b)(5) Drafting attorney: Kathryn T. Holman Legal Deadline: None (202) 622-3860 CFR Citation: 26 CFR 1 Abstract: This temporary regulation Reviewing attorney: Michael H. Frankel Legal Deadline: None replaces and updates the existing (202) 622-3860 regulation to include procedures for the Abstract: This temporary regulation public availability of Chief Counsel Treasury attorney: Carl Dubert (202) will provide rules regarding the current Advice. It also reflects changes to the 622-0222 liability interest rate under section 412(b)(5). organizational structure of the Internal CC:INTL Revenue Service and Office of Chief Timetable: Agency Contact: Kathryn T. Holman, Counsel, changes to the Code, and Action Date FR Cite technological advances related to the Attorney–Advisor, Department of the electronic availability of Internal Treasury, Internal Revenue Service, Temporary Regulation 12/00/04 1111 Constitution Avenue NW, Revenue Service documents to the Regulatory Flexibility Analysis Washington, DC 20224 public. Required: Phone: 202 622–3860 No Timetable: Small Entities Affected: No RIN: 1545–BD10 Action Date FR Cite Government Levels Affected: None Temporary Regulation 07/00/04 2700. • CURRENT LIABILITY Additional Information: REG-105966-04 Regulatory Flexibility Analysis INTEREST RATE UNDER SECTION Drafting attorney: Linda S.F. Marshall Required: No 412(B)(5) (202) 622-6090 Small Entities Affected: No Priority: Substantive, Nonsignificant Treasury attorney: Harlan Weller (202) Government Levels Affected: None Legal Authority: 26 USC 7805; 26 USC 622-1001 Additional Information: REG-113129-98 412(b)(5) CC:TEGE Drafting attorney: Deborah C. Lambert- CFR Citation: 26 CFR 1 Agency Contact: Linda S.F. Marshall, Dean (202) 622-4570 Legal Deadline: None Senior Counsel, Department of the Treasury, Internal Revenue Service, CC:PA:DPL Abstract: These proposed regulations 1111 Constitution Avenue NW, Agency Contact: Deborah C. will provide rules regarding the current Washington, DC 20224 Lambert–Dean, Attorney–Advisor, liability interest rate under section Phone: 202 622–6090 412(b)(5). Department of the Treasury, Internal Related RIN: Related to 1545–BD13 Revenue Service, 1111 Constitution Timetable: Avenue NW, Washington, DC 20224 RIN: 1545–BD14 Phone: 202 622–4570 Action Date FR Cite Fax: 202 622–9888 NPRM 12/00/04 2702. • DEFINITION OF QUALIFIED Related RIN: Related to 1545–AX40 Regulatory Flexibility Analysis FOREIGN CORPORATION RIN: 1545–BD09 Required: No Priority: Substantive, Nonsignificant Small Entities Affected: No Legal Authority: 26 USC 7805(a); 26 2699. • DUAL CONSOLIDATED LOSS Government Levels Affected: None USC 1 REGULATIONS Additional Information: REG-105966-04 CFR Citation: Not Yet Determined Priority: Substantive, Nonsignificant Drafting attorney: Linda S.F. Marshall Legal Deadline: None Legal Authority: 26 USC 7805; 26 USC (202) 622-6090 Abstract: Notice 2003-79, section 5, 1503 Treasury attorney: Harlan Weller (202) published on November 28, 2003, states CFR Citation: 26 CFR 1 622-1001 that the IRS intends to issue regulations, for years after 2003, that Legal Deadline: None CC:TEGE provide procedures for a foreign Abstract: This proposed regulation Agency Contact: Linda S.F. Marshall, corporation to certify that it is a provides additional guidance with Senior Counsel, Department of the qualified foreign corporation for
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TREAS—IRS Proposed Rule Stage
purposes of IRC section 1(h)(11)(C). The Timetable: 2705. • ESCROW ACCOUNTS, regulations will also provide Action Date FR Cite TRUSTS, AND OTHER FUNDS USED procedures for certifying that a security DURING DEFERRED EXCHANGES OF that is not a common or ordinary share NPRM 07/00/04 LIKE–KIND PROPERTY is equity rather than debt; that a foreign Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant company is entitled to benefits under Required: No Legal Authority: 26 USC 7805; 26 USC a comprehensive income tax treaty Small Entities Affected: No where a security is not readily tradable 468B(g) on a recognized U.S. stock exchange; Government Levels Affected: None CFR Citation: 26 CFR 1; 26 CFR 602 and that the foreign corporation is not Additional Information: REG-171386-03 Legal Deadline: None a FPHC, FIC, or PFIC in the taxable Drafting attorney: Amy J. Pfalzgraf (202) Abstract: These proposed regulations year in which a dividend is paid, or 622-4950 in the preceding taxable year. The provide rules under section 468B(g) regulations are also expected to address Reviewing attorney: Christopher F. regarding the taxation and reporting of the meaning of the requirement in the Kane (202) 622-4950 the income earned on escrow accounts, legislative history that to qualify under CC:ITA trusts, and other funds used for deferred exchanges of like-kind a treaty for purposes of 1(h)(11) Agency Contact: Amy J. Pfalzgraf, property under section 1031(a)(3). The ‘‘substantially all of . . .[the foreign Attorney–Advisor, Department of the proposed regulations affect qualified corporation’s] income in the taxable Treasury, Internal Revenue Service, escrow accounts, qualified trusts, and year in which the dividend is paid’’ 1111 Constitution Avenue NW, other funds established in connection must qualify for treaty benefits. Washington, DC 20224 with deferred like-kind exchanges, and Timetable: Phone: 202 622–4950 the taxpayers, escrowees, trustees, Action Date FR Cite RIN: 1545–BD16 qualified intermediaries, and other NPRM 12/00/04 parties who receive the funds or 2704. • MOVE AND UPDATE THE establish, maintain, and administer the Regulatory Flexibility Analysis accounts. Required: No ESTIMATED TAX REGULATIONS Timetable: Small Entities Affected: No Priority: Info./Admin./Other Legal Authority: Action Date FR Cite Government Levels Affected: None 26 USC 6654 CFR Citation: NPRM 08/00/04 Additional Information: REG-107420-04 26 CFR 1 Legal Deadline: None Regulatory Flexibility Analysis Drafting attorney: Michelle S. Lyon Required: No (202) 622-3880 Abstract: The proposed regulation will move and update the estimated tax Small Entities Affected: No Reviewing attorney: Karen Rennie regulations from Treasury Regulation Quarrie (202) 622-3880 Government Levels Affected: None sections 1.6015(a)-(j) and 301.6015 to Treasury attorney: John Harrington the section 6654 regulations. Additional Information: REG-113365-04 (202) 622-0589 Timetable: Drafting attorney: A. Katharine J. Kiss CC:INTL (202) 622-4930 Action Date FR Cite Agency Contact: Michelle S. Lyon, Reviewing attorney: Jeffrey G. Mitchell NPRM 10/00/04 Attorney–Advisor, Department of the (202) 622-4930 Treasury, Internal Revenue Service, Regulatory Flexibility Analysis CC:ITA 1111 Constitution Avenue NW, Required: No Agency Contact: A. Katharine Kiss, Washington, DC 20224 Small Entities Affected: No Phone: 202 622–3880 Attorney–Advisor, Department of the Government Levels Affected: None Treasury, Internal Revenue Service, RIN: 1545–BD15 Additional Information: REG-147157-03 1111 Constitution Avenue NW, Washington, DC 20224 Drafting attorney: Tonya L. Phone: 202 622–4930 2703. • TIME AND MANNER OF Christianson (202) 622-4910 SECTION 163 INTEREST EQUIVALENT Related RIN: Split from 1545–AR82 DEDUCTION ELECTION Reviewing attorney: Tiffany Smith (202) 622-4910 RIN: 1545–BD19 Priority: Info./Admin./Other Treasury attorney: Eric San Juan (202) Legal Authority: 26 USC 163 622-0224 2706. • SECTION 42 QUALIFIED CFR Citation: 26 CFR 1 CC:PA:APJ CONTRACT PROVISIONS Legal Deadline: None Agency Contact: Tonya L. Priority: Substantive, Nonsignificant Abstract: These proposed regulations Christianson, Attorney–Advisor, Legal Authority: 26 USC 42 Department of the Treasury, Internal will provide guidance regarding time CFR Citation: 26 CFR 1 and manner for making the election Revenue Service, 1111 Constitution under IRC section 163(d)(4)(B) to treat Avenue NW, Washington, DC 20224 Legal Deadline: None qualified dividend income as Phone: 202 622–4910 Abstract: This proposed regulation investment income. RIN: 1545–BD17 under sections 42(h)(6)(F) and
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TREAS—IRS Proposed Rule Stage
42(h)(6)(K) will provide guidance for CC:PA:APJ Legal Deadline: None provisions relating to qualified Agency Contact: Michelle B. Baxter, Abstract: This proposed guidance will contracts. Attorney–Advisor, Department of the lay out rules for establishing a bona Timetable: Treasury, Internal Revenue Service, fide phased retirement program. Action Date FR Cite 1111 Constitution Avenue, NW, Generally, such a program would Washington, DC 20224 provide employees who are at or near NPRM 10/00/04 Phone: 202 622–4910 eligibility for retirement with the Regulatory Flexibility Analysis RIN: 1545–BD21 opportunity for a reduced schedule and Required: No to receive a distribution of a proportionate share of their pension Small Entities Affected: No 2708. • INTEREST ON LARGE benefits based on their ‘‘partial Government Levels Affected: CORPORATE UNDERPAYMENTS retirement.’’ Undetermined UNDER SECTION 6621 (C) Timetable: Priority: Info./Admin./Other Additional Information: REG-114084-03 Action Date FR Cite Legal Authority: 26 USC 6621 Drafting attorney: Lauren R. Taylor NPRM 10/00/04 (202) 622-3040 CFR Citation: 26 CFR 301 Regulatory Flexibility Analysis Reviewing attorney: Susan Reaman Legal Deadline: None Required: No (202) 622-3040 Abstract: These proposed regulations Small Entities Affected: No Treasury attorney: Bruce Serchuk (202) will amend section 301.6621-3 of the Government Levels Affected: None 622-1766 Procedure and Administration CC:PSI Regulations to address the treatment of Additional Information: REG-114726-04 net operating loss carrybacks, capital Agency Contact: Lauren R. Taylor, Drafting attorney: Cathy A. Vohs (202) loss carrybacks, and a credit carrybacks 622-6090 Attorney–Advisor, Department of the for purposes of determining whether a Reviewing attorney: Janet Laufer (202) Treasury, Internal Revenue Service, large corporate underpayment exists 622-6090 1111 Constitution Avenue NW, under section 6621(c). This regulation Washington, DC 20224 will also implement the changes made Treasury attorney: Bill Bortz (202) 622- Phone: 202 622–3040 by the Taxpayer Relief Act of 1997. 1352 RIN: 1545–BD20 Timetable: CC:TEGE Action Date FR Cite Agency Contact: Cathy A. Vohs, 2707. • PAYMENTS FOR WHICH NO Attorney–Advisor, Department of the RETURN OF INFORMATION IS NPRM 10/00/04 Treasury, Internal Revenue Service, REQUIRED UNDER SECTION 6041 Regulatory Flexibility Analysis 1111 Constitution Avenue NW, Priority: Info./Admin./Other. Major Required: No Washington, DC 20224 status under 5 USC 801 is Small Entities Affected: No Phone: 202 622–6090 undetermined. Government Levels Affected: None RIN: 1545–BD23 Legal Authority: 26 USC 6041 Additional Information: REG-147151-03 2710. • DEEMED CORPORATE CFR Citation: 26 CFR 1 Drafting attorney: Michelle B. Baxter ELECTION FOR ELECTING S (202) 622-4910 Legal Deadline: None CORPORATIONS (TEMPORARY) Reviewing attorney: Pamela W. Fuller Abstract: This proposed regulation will Priority: Substantive, Nonsignificant remove section 1.6041-3(g) of the (202) 622-4910 Legal Authority: 26 USC 7805 Income Tax Regulations. Treasury attorney: Julian Kim (202) Timetable: 622-1981 CFR Citation: 26 CFR 1 Action Date FR Cite CC:PA:APJ Legal Deadline: None Abstract: The regulation will deem an NPRM 10/00/04 Agency Contact: Michelle B. Baxter, Attorney–Advisor, Department of the S Corporation that makes a timely S Regulatory Flexibility Analysis Treasury, Internal Revenue Service, Corporation election to have also made Required: No 1111 Constitution Avenue, NW, a timely election to be an association Small Entities Affected: No Washington, DC 20224 taxed as a corporation under section Phone: 202 622–4910 301.7701-3(1)(i) to ease the Government Levels Affected: None administrative burden on taxpayers and RIN: 1545–BD22 Additional Information: REG-147136-03 IRS Service Centers. It will continue Drafting attorney: Michelle B. Baxter implementation of section 7701 under (202) 622-4910 2709. • GUIDANCE ON PHASED the secretary’s general section 7805 RETIREMENT regulatory authority. Reviewing attorney: James C. Gibbons Timetable: (202) 622-7085 Priority: Substantive, Nonsignificant Treasury attorney: John Parcell (202) Legal Authority: Not Yet Determined Action Date FR Cite 622-2578 CFR Citation: 26 CFR 1 Temporary Regulation 10/00/04
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TREAS—IRS Proposed Rule Stage
Regulatory Flexibility Analysis CC:ITA 2713. • STOCK HELD BY FOREIGN Required: No INSURANCE COMPANIES Agency Contact: J. Peter Baumgarten, Small Entities Affected: Businesses Attorney–Advisor, Department of the Priority: Substantive, Nonsignificant Government Levels Affected: Treasury, Internal Revenue Service, Legal Authority: 26 USC 7805; 26 USC Undetermined 1111 Constitution Avenue NW, 864 Washington, DC 20224 Additional Information: REG-131786-03 CFR Citation: 26 CFR 1 Phone: 202 622–4950 Drafting attorney: Rebekah A. Myers Legal Deadline: None (202) 622-3050 RIN: 1545–BD25 Abstract: This is a proposed regulation Reviewing attorney: Dianna Miosi (202) relating to the application of the asset- 622-3050 2712. • SECTION 1031 TRANSITION use test to stock held by foreign Treasury attorney: Deborah Harrington TO NAICS (TEMPORARY) insurance companies. The regulation will provide that the exception to the (202) 622-1788 Priority: Substantive, Nonsignificant. asset-use test will not apply in CC:PSI Major status under 5 USC 801 is determining whether the income, gain, undetermined. Agency Contact: Rebekah A. Myers, or loss from portfolio stock held by Attorney–Advisor, Department of the Legal Authority: 26 USC 7805 foreign insurance companies constitutes Treasury, Internal Revenue Service, income effectively connected with the 1111 Constitution Avenue NW, CFR Citation: 26 CFR 1 conduct of a U.S. trade or business. Washington, DC 20224 Phone: 202 622–3050 Legal Deadline: None Timetable: Related RIN: Related to 1545–BC32 Abstract: This temporary regulation Action Date FR Cite RIN: 1545–BD24 provides guidance regarding the NPRM 12/00/04 determination of product class under Regulatory Flexibility Analysis section 1.1031(a)-2(b) of the Income Required: 2711. • SECTION 1031 TRANSITION Tax Regulations that was based on the No TO NAICS obsolescent SIC codes. The new Small Entities Affected: No Priority: Substantive, Nonsignificant. regulation will update the old and Government Levels Affected: None direct taxpayers to use the North Major status under 5 USC 801 is Additional Information: REG-117307-04 undetermined. American Industry Classification System (NAICS) code to determine the Drafting attorney: Sheila Ramaswamy Legal Authority: 26 USC 7805 product class of exchange property. (202) 622-3870 CFR Citation: 26 CFR 1 Timetable: Reviewing attorney: Steven Jensen (202) Legal Deadline: None 622-3870 Action Date FR Cite Abstract: This proposed regulation CC:INTL provides guidance regarding Temporary Regulation 10/00/04 determination of product class under Agency Contact: Sheila Ramaswamy, Regulatory Flexibility Analysis Attorney–Advisor, Department of the section 1.1031(a)-2(b) of the Income Required: No Tax Regulations that was based on the Treasury, Internal Revenue Service, obsolescent SIC codes. This regulation Small Entities Affected: No 1111 Constitution Avenue NW, will update the old and direct Washington, DC 20224 Government Levels Affected: taxpayers to use the North American None Phone: 202 622–3870 Industry Classification System (NAICS) Additional Information: REG-116265-04 RIN: 1545–BD27 code to determine the product class of exchange property. Drafting attorney: J. Peter Baumgarten (202) 622-4920 2714. • DEFINITION OF DISQUALIFIED Timetable: PERSON Reviewing attorney: Roy A. Hirschhorn Action Date FR Cite Priority: Substantive, Nonsignificant. (202) 622-4920 NPRM 10/00/04 Major status under 5 USC 801 is undetermined. Regulatory Flexibility Analysis Treasury attorney: Deborah Harrington Required: No (202) 622-1788 Legal Authority: 26 USC 7805 Small Entities Affected: No CC:ITA CFR Citation: 26 CFR 1 Government Levels Affected: None Agency Contact: J. Peter Baumgarten, Legal Deadline: None Additional Information: REG-116265-04 Attorney–Advisor, Department of the Abstract: These proposed regulations Treasury, Internal Revenue Service, Drafting attorney: J. Peter Baumgarten provide certain changes to the 1111 Constitution Avenue NW, (202) 622-4920 definition of a disqualified person Washington, DC 20224 under section 1.1031-1(k) of the income Reviewing attorney: Roy A. Hirschhorn Phone: 202 622–4950 tax regulations to facilitate the ability (202) 622-4920 Related RIN: Related to 1545–BD25 of banks and bank affiliates to act as Treasury attorney: Deborah Harrington qualified intermediaries in section 1031 (202) 622-1788 RIN: 1545–BD26 exchanges.
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TREAS—IRS Proposed Rule Stage
Timetable: Phone: 202 622–3130 Regulatory Flexibility Analysis Action Date FR Cite Related RIN: Related to 1545–BC08 Required: No NPRM 10/00/04 RIN: 1545–BD29 Small Entities Affected: No Regulatory Flexibility Analysis Government Levels Affected: None Required: No 2716. • TIME AND MANNER OF Additional Information: REG-106889-04 Small Entities Affected: No SECTION 163 INTEREST EQUIVALENT Drafting attorney: Robert B. Gray (202) DEDUCTION ELECTION Government Levels Affected: None 622-7550 (TEMPORARY) Additional Information: REG-160005-03 Reviewing attorney: Debra L. Carlisle Priority: Info./Admin./Other Drafting attorney: Brendan P. O’Hara (202) 622-7550 (202) 622-4920 Legal Authority: 26 USC 163(d)(4)(B) Treasury attorney: Audrey Nacamuli Reviewing attorney: Steven Toomey CFR Citation: 26 CFR 1 (202) 622-5721 (202) 622-4920 Legal Deadline: None CC:COR CC:ITA Abstract: The temporary regulation Agency Contact: Robert B. Gray, Agency Contact: Brendan O’Hara, will provide guidance regarding time Attorney–Advisor, Department of the Attorney Advisor, Department of the and manner for making the election Treasury, Internal Revenue Service, Treasury, Internal Revenue Service, under IRC Section 163(d)(4)(B) to treat 1111 Constitution Avenue NW, 1111 Constitution Avenue NW, qualified dividend income as Washington, DC 20224 Washington, DC 20224 investment income. Phone: 202 622–7550 Phone: 202 622–7900 Timetable: RIN: 1545–BD31 RIN: 1545–BD28 Action Date FR Cite Temporary Regulation 10/00/04 2718. • LIFO RECAPTURE UNDER 2715. • ENTRY OF TAXABLE FUEL SECTION 1363(D) Regulatory Flexibility Analysis (TEMPORARY) Required: No Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant. Small Entities Affected: No Legal Authority: 26 USC 7805 Major status under 5 USC 801 is undetermined. Government Levels Affected: None CFR Citation: 26 CFR 1 Legal Authority: 26 USC 7805 Additional Information: REG-171386-03 Legal Deadline: None CFR Citation: 26 CFR 1 Drafting attorney: Amy J. Pfalzgraf (202) Abstract: These proposed regulations Legal Deadline: None 622-4950 provide guidance on a C corporation Agency Contact: Amy J. Pfalzgraf, that, owning LIFO inventory through a Abstract: The temporary regulations partnership, converts to an S will provide rules for payment of tax Attorney–Advisor, Department of the Treasury, Internal Revenue Service, corporation or transfers it’s partnership when taxable fuel is entered by an interest to an S corporation. unregistered person. 1111 Constitution Avenue NW, Washington, DC 20224 Timetable: Timetable: Phone: 202 622–4950 Action Date FR Cite Action Date FR Cite Related RIN: Related to 1545–BD16 NPRM 12/00/04 Temporary Regulation 12/00/04 RIN: 1545–BD30 Regulatory Flexibility Analysis Regulatory Flexibility Analysis Required: No Required: No 2717. • REQUIREMENTS FOR Small Entities Affected: No Small Entities Affected: No REORGANIZATIONS Government Levels Affected: None Government Levels Affected: None Priority: Substantive, Nonsignificant. Additional Information: REG-120616-03 Major status under 5 USC 801 is Additional Information: REG-149524-03 Drafting attorney: Celia Gabrysh (202) undetermined. Drafting attorney: Pietro Canestrelli 622-3130 Legal Authority: 26 USC 7805; 26 USC (202) 622-3060 Reviewing attorney: Frank Boland (202) 368 Treasury attorneys: Deborah Harrington 622-3130 and Phillip Howard (202) CFR Citation: 26 CFR 1 (202) 622-1788 and Stephanie Robinson (202) 622-9858 622-3000 Legal Deadline: None Treasury attorney: John Parcell (202) CC:PSI Abstract: This regulation will provide 622-2578 guidance regarding reorganizations Agency Contact: Pietro E. Canestrelli, CC:PSI under section 368(a)(1)(f) of the Internal Attorney–Advisor, Department of the Agency Contact: Celia A. Gabrysh, Revenue Code. Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Attorney–Advisor, Department of the Timetable: Treasury, Internal Revenue Service, Washington, DC 20224 1111 Constitution Avenue NW, Action Date FR Cite Phone: 202 622–3060 Washington, DC 20224 NPRM 07/00/04 RIN: 1545–BD34
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TREAS—IRS Proposed Rule Stage
2719. • CLARIFICATION OF Drafting attorney: Tara P. Voungis (202) 2722. • UNDERPAYMENT FOR DEFINITIONS 927-7561 QUALIFIED AMENDED RETURNS Priority: Substantive, Nonsignificant Reviewing attorney: Christine Ellison Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is Legal Authority: 26 USC 7805 (202) 622-3070 undetermined. CFR Citation: 26 CFR 301 Treasury attorney: Jonathan Ackerman Unfunded Mandates: Undetermined (202) 622-3293 Legal Deadline: None Legal Authority: 26 USC 7805 Abstract: These regulations will CC:PSI CFR Citation: 26 CFR 1 address the treatment of corporate continuances under section 7701. Agency Contact: Tara P. Volungis, Legal Deadline: None Attorney–Advisor, Department of the Timetable: Abstract: These regulations will revise Treasury, Internal Revenue Service, the definition of ‘‘qualified amended Action Date FR Cite 1111 Constitution Avenue NW, return’’ in accordance with Notice Washington, DC 20224 NPRM 07/00/04 2004-38. Phone: 202 927–3080 Regulatory Flexibility Analysis Timetable: Required: No RIN: 1545–BD38 Action Date FR Cite Small Entities Affected: No NPRM 12/00/04 2721. • BRIEF ASSET HOLDING Government Levels Affected: None Regulatory Flexibility Analysis PERIOD Additional Information: REG-124872-04 Required: No Priority: Substantive, Nonsignificant Small Entities Affected: Businesses Drafting attorney: Thomas D. Beem (202) 622-3860 Legal Authority: 26 USC 6011; 26 USC Government Levels Affected: None Reviewing attorney: Charles P. Besecky 7805 Federalism: Undetermined (202) 622-3860 CFR Citation: 26 CFR 1 Additional Information: REG-122847-04 Treasury attorney: Carl Dubert (202) Drafting attorney: Nancy M. Galib (202) Legal Deadline: None 622-0222 622-7022 CC:INTL Abstract: The regulation will make Reviewing attorney: Ashton P. Trice modifications to the transactions (202) 622-4940 Agency Contact: Thomas D. Beem, involving a brief asset holding period Treasury attorneys: Julian Kim and Attorney–Advisor, Department of the reportable transaction filter under Jonathan Ackerman (202) 622-1981 Treasury, Internal Revenue Service, section 1.6011-4. 1111 Constitution Avenue NW, 1111 CC: APJ Constitution Avenue NW, Washington, Timetable: Agency Contact: Nancy M. Galib, DC 20224 Action Date FR Cite attorney, Department of the Treasury, Phone: 202 622–3860 NPRM 12/00/04 Internal Revenue Service, 1111 RIN: 1545–BD37 Constitution Ave NW, Washington, DC Regulatory Flexibility Analysis 20024 Required: 2720. • BRIEF ASSET HOLDING No Phone: 202 622–7022 PERIOD (TEMPORARY) Small Entities Affected: No RIN: 1545–BD40 Priority: Substantive, Nonsignificant Government Levels Affected: None • Legal Authority: 26 USC 601; 26 USC 2723. UNDERPAYMENT FOR 7805 Additional Information: REG-124866-04 QUALIFIED AMENDED RETURNS (TEMPORARY) CFR Citation: 26 CFR 1 Drafting attorney: Tara P. Volungis Priority: Substantive, Nonsignificant Legal Deadline: (202) 927-7561 None Legal Authority: Not Yet Determined Reviewing attorney: Christine Ellison Abstract: This regulation will make CFR Citation: 26 CFR 1 modifications to the transactions (202) 622-3070 Legal Deadline: None involving a brief asset holding period Treasury attorney: Jonathan Ackerman Abstract: reportable transaction filter under (202) 622-5293 These temporary regulations section 1.6011-4. will revise the definition of ‘‘qualified Timetable: CC: PSI amended return’’ in accordance with Notice 2004-38. Action Date FR Cite Agency Contact: Tara P. Volungis, Timetable: Temporary Regulation 12/00/04 Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Action Date FR Cite Regulatory Flexibility Analysis 1111 Constitution Avenue NW, Required: No Temporary 12/00/04 Washington, DC 20224 Regulations Phone: 202 927–3080 Government Levels Affected: None Regulatory Flexibility Analysis Additional Information: REG-124866-04 RIN: 1545–BD39 Required: Undetermined
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TREAS—IRS Proposed Rule Stage
Small Entities Affected: Businesses Timetable: Legal Deadline: None Government Levels Affected: None Action Date FR Cite Abstract: This regulation provides Federalism: Undetermined NPRM 07/00/04 amendments to section 1.368-2(K). The Additional Information: REG-122847-04 amendments provide that a transaction, Regulatory Flexibility Analysis that otherwise qualifies as a tax-free Drafting attorney: Nancy M. Galib (202) Required: No reorganization under section 368(a), 622-7022 Small Entities Affected: No will not be disqualified if the Reviewing attorney: Ashton P. Trice Government Levels Affected: None transaction is followed by a distribution (202) 622-4940 of assets or stock and certain other Additional Information: REG-127740-04 Treasury attorneys: Julian Kim and requirements are satisfied. Jonathan Ackerman (202) 622-1981 Drafting attorney: Tasheaya Warren Timetable: Ellison (202) 622-3860 CC:PA:AP J Action Date FR Cite Reviewing attorney: Charles P. Besecky Agency Contact: Nancy M. Galib, (202) 622-3860 NPRM 12/00/04 attorney, Department of the Treasury, Internal Revenue Service, 1111 Treasury attorney: Carl Dubert (202) Regulatory Flexibility Analysis Constitution Ave NW, Washington, DC 622-0222 Required: No 20024 CC:INTL Small Entities Affected: No Phone: 202 622–7022 Agency Contact: Tasheaya Warren Government Levels Affected: None Related RIN: Related to 1545–BD40 Ellison, Attorney–Advisor, Department RIN: 1545–BD42 of the Treasury, Internal Revenue Additional Information: REG-130863-04 Service, 1111 Constitution Avenue NW, Drafting attorney: Jeffrey B. Fienberg 2724. • APPLICATION OF SECTIONS Washington, DC 20224 (202) 622-7770 304(B)(6) AND 367 IN CROSS BORDER Phone: 202 622–3860 Reviewing attorney: SECTION 304 TRANSACTIONS RIN: 1545–BD46 Priority: Substantive, Nonsignificant Treasury attorney: Legal Authority: 26 USC 7805; 26 USC 2725. • ASSET TRANSFERS CC:COR 304(b)(6); 26 USC 367(a)(6); 26 USC FOLLOWING PUTATIVE REORGANIZATIONS Agency Contact: Jeffrey B. Fienberg, 367(b) Attorney–Advisor, Department of the CFR Citation: 26 CFR 1 Priority: Substantive, Nonsignificant. Treasury, Internal Revenue Service, Legal Deadline: None Major status under 5 USC 801 is 1111 Constitution Avenue NW, undetermined. Washington, DC 20224 Abstract: This proposed regulation will Phone: 202 622–7770 coordinate sections 304 and 367 in Legal Authority: 26 USC 7805 cross-border stock redemptions. CFR Citation: 26 CFR 1 RIN: 1545–BD56
Department of the Treasury (TREAS) Final Rule Stage Internal Revenue Service (IRS)
2726. FOREIGN CORPORATIONS special rules applicable to certain Additional Information: REG-209042-86 specified transfers. The regulations will Priority: Substantive, Nonsignificant (INTL-610-86) provide guidance concerning the Legal Authority: 26 USC 7805; 26 USC applicability of the general rule and its Drafting attorney: Michael H. Frankel 367 exceptions and special rules, including (202) 622-3860 guidance concerning transfers of assets CFR Citation: 26 CFR 1 Reviewing attorney: Charlie Besecky for use in the active conduct of a trade Legal Deadline: None or business, stock transfers, transfers of (202) 622-3860 Abstract: The income tax regulations intangible assets, and transfers of CC:INTL under section 367 will be amended to branch operations that have operated at reflect the changes made to that section a loss. Agency Contact: Michael H. Frankel, by the Tax Reform Act of 1984. Section Timetable: Senior Technical Reviewer, Department 367 now provides generally that a of the Treasury, Internal Revenue Action Date FR Cite foreign corporation will not be Service, 1111 Constitution Avenue NW, considered to be a corporation, for NPRM 05/16/86 51 FR 17990 Washington, DC 20224 purposes of certain nonrecognition Final Action 06/00/05 Phone: 202 622–3860 provisions of the Code, upon the Regulatory Flexibility Analysis RIN: 1545–AK74 transfer of property to such corporation Required: No by a U.S. person. The statute provides certain exceptions to that rule, Small Entities Affected: No exemptions to those exceptions, and Government Levels Affected: None
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TREAS—IRS Final Rule Stage
2727. NONRECOGNITION OF Abstract: This regulation will finalize Additional Information: REG-208989-90 CORPORATE DISTRIBUTIONS AND all outstanding proposed regulations (CO-91-90) REORGANIZATIONS UNDER THE under section 1.163-1(b)(2). Drafting attorney: Tara P. Volungis FOREIGN INVESTMENT IN REAL Timetable: (202) 622-3080 PROPERTY TAX ACT Action Date FR Cite Reviewing attorney: Christine Ellison Priority: Substantive, Nonsignificant (202) 622-3070 NPRM 01/21/93 58 FR 5316 Legal Authority: 26 USC 7805; 26 USC Final Action 12/00/04 CC:PS&I 897 Regulatory Flexibility Analysis Agency Contact: Tara P. Volungis, CFR Citation: 26 CFR 1 Required: No Attorney–Advisor, Department of the Legal Deadline: None Treasury, Internal Revenue Service, Small Entities Affected: No Abstract: These regulations will 1111 Constitution Avenue NW, provide rules concerning the effect of Government Levels Affected: None Washington, DC 20224 certain distributions including Additional Information: REG-208245-90 Phone: 202 927–3080 dividends, redemptions, distributions (INTL-115-90) RIN: 1545–AP52 pursuant to reorganizations, and Drafting attorney: Carl M. Cooper (202) liquidations on corporations and their 622-3840 shareholders under the Foreign 2730. INTEREST–FREE Investment in Real Property Tax Act. Reviewing attorney: Valerie A. Mark ADJUSTMENTS Regulations will also provide rules for Lippe (202) 622-3840 Priority: Substantive, Nonsignificant determining the extent to which CC:INTL Legal Authority: 26 USC 7805; 26 USC nonrecognition would apply to certain 6205 transfers of real property interests and Agency Contact: Carl M. Cooper, the extent to which certain Attorney–Advisor, Department of the CFR Citation: 26 CFR 31 reorganizations will be treated as sales Treasury, Internal Revenue Service, Legal Deadline: None of property at fair market value. 1111 Constitution Avenue NW, Washington, DC 20224 Abstract: Under section 6205(a)(1) of Timetable: Phone: 202 622–3840 the Code, if less than the correct Action Date FR Cite amount of tax imposed under the FICA, RIN: 1545–AP33 the RRTA, or the income tax NPRM 05/05/88 53 FR 16233 withholding provisions is paid with Hearing 03/01/89 54 FR 1189 2729. GUIDANCE IN NOTICE 89–37, respect to any payment of wages or Final Action 12/00/04 WHICH TREATS THE RECEIPT OF A compensation, proper adjustments with Regulatory Flexibility Analysis CORPORATE PARTNER’S STOCK BY respect to both the tax and amount to Required: No THE CORPORATE PARTNER AS A be deducted must be made without Small Entities Affected: No CIRCUMVENTION OF GENERAL interest in such manner and in such UTILITIES REPEAL times as the Secretary may by Government Levels Affected: None regulations prescribe. The amendments Priority: Substantive, Nonsignificant Additional Information: REG-209039-87 add language to clarify that an interest- (INTL-491-87) Unfunded Mandates: Undetermined free adjustment can be made in certain situations in which the error is Drafting attorney: Robert W. Lorence Legal Authority: 26 USC 7805; 26 USC ascertained before the appropriate (202) 622-3860 337 return is filed. The amendments are Reviewing attorney: Charles P. Besecky CFR Citation: 26 CFR 1 intended to apply only to situations in (202) 622-3860 Legal Deadline: None which no return was filed because the CC:INTL employer improperly failed to treat its Abstract: The regulations will workers as employees. Agency Contact: Robert W. Lorence, implement the guidance provided in Senior Counsel, Department of the Notice 89-37, 1989-1 C.B. 679, Timetable: Treasury, Internal Revenue Service, concerning the treatment of certain Action Date FR Cite 1111 Constitution Avenue NW, partnership transactions involving the NPRM 12/10/92 57 FR 58423 Washington, DC 20224 stock of a corporate partner. Phone: 202 622–3860 NPRM Comment 02/08/93 Timetable: Period End RIN: 1545–AK79 Action Date FR Cite Final Action 12/00/04 NPRM 12/15/92 57 FR 59324 Regulatory Flexibility Analysis 2728. REGISTRATION REQUIRED NPRM Comment 01/20/93 Required: No OBLIGATIONS Period End Small Entities Affected: No Final Action 01/00/05 Priority: Substantive, Nonsignificant Government Levels Affected: None Regulatory Flexibility Analysis Legal Authority: 26 USC 7805; 26 USC Additional Information: REG-209538-92 Required: 165 No (EE-12-92) CFR Citation: 26 CFR 1 Small Entities Affected: No Drafting attorney: Karin Loverud (202) Legal Deadline: None Government Levels Affected: None 622-6060
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TREAS—IRS Final Rule Stage
Reviewing attorney: Mary Oppenheimer Treasury, Internal Revenue Service, the tax treatment of bad debts. The (202) 622-6010 1111 Constitution Avenue NW, regulations also provide that securities CC:TEGE Washington, DC 20224 are to be marked to market upon Phone: 202 622–6080 disposition by a dealer and the Agency Contact: Karin Loverud, Tax RIN: 1545–AQ74 exemption from marking to market in Law Specialist, Department of the certain securitization transactions. Treasury, Internal Revenue Service, Timetable: 1111 Constitution Avenue NW, 2732. ESCROW FUNDS AND OTHER Washington, DC 20224 SIMILAR FUNDS Action Date FR Cite Phone: 202 622–6060 Priority: Substantive, Nonsignificant NPRM 01/04/95 60 FR 397 RIN: 1545–AQ61 Final Action 12/00/04 Legal Authority: 26 USC 7805; 26 USC 0468B Regulatory Flexibility Analysis 2731. DEFINITION OF ‘‘HIGHLY Required: No COMPENSATED EMPLOYEE’’ CFR Citation: 26 CFR 1 Small Entities Affected: No Priority: Substantive, Nonsignificant Legal Deadline: None Government Levels Affected: None Legal Authority: 26 USC 7805; 26 USC Abstract: This regulation provides Additional Information: 414 further guidance relating to certain REG-209724-94 escrow funds and other similar funds. (FI-42-94) CFR Citation: 26 CFR 1 Timetable: Drafting attorney: Stephen J. Coleman Legal Deadline: None (202) 622-6289 Action Date FR Cite Abstract: The regulations define the Reviewing attorney: Elizabeth Handler NPRM 02/01/99 64 FR 4801 term ‘‘highly compensated employee’’ (202) 622-3157 under section 414(q) of the Code. NPRM Comment 05/03/99 Temporary and proposed regulations, Period End CC:FIP under sections 414(q) and 414(s), were Final Action 08/00/04 Sections 1.475(a)-3 finalized in TD published February 19, 1988 (53 FR Regulatory Flexibility Analysis 8700. Sections 1.475(b)-4 finalized in 4965). Final regulations, under section Required: No TD 8700. Sections 1.475(c)-2 finalized 414(s), were published September 19, Small Entities Affected: in TD 8700. 1991 (56 FR 47659) under project EE- No Agency Contact: Stephen J. Coleman, 129-86. The regulations under 414(q) Government Levels Affected: None Attorney–Advisor, Department of the were split off from project EE-129-86. Additional Information: REG-209619-93 Treasury, Internal Revenue Service, It is anticipated that proposed (IA-17-93) 1111 Constitution Avenue NW, regulations under section 414(q) will be Washington, DC 20224 published in the future under project Drafting attorney: Richard Shevak (202) Phone: 202 622–6289 REG-209558-92 (EE-32-92). 622-8142 Timetable: Reviewing attorney: Jeffery G. Mitchell RIN: 1545–AS85 (202) 622-7034 Action Date FR Cite CC:ITA:7 2734. STRADDLES— NPRM 02/19/88 53 FR 4999 –MISCELLANEOUS ISSUES NPRM Comment 04/19/88 Agency Contact: Richard Shevak, Period End Attorney–Advisor, Department of the Priority: Substantive, Nonsignificant Partially Closed by TD 06/27/94 59 FR 32911 Treasury, Internal Revenue Service, Legal Authority: 26 USC 7805; 26 USC 8548 1111 Constitution Avenue NW, 1092 Final Action 12/00/04 Washington, DC 20224 CFR Citation: 26 CFR 1 Regulatory Flexibility Analysis Phone: 202 622–8142 Required: No Related RIN: Related to 1545–BD19 Legal Deadline: None Small Entities Affected: No RIN: 1545–AR82 Abstract: This regulation clarifies the circumstances in which common stock Government Levels Affected: State, may be personal property for purposes Local 2733. MARK–TO–MARKET UPON of section 1092. Federalism: Undetermined DISPOSITION Timetable: Additional Information: REG-209558-92 Priority: Substantive, Nonsignificant Action Date FR Cite Drafting attorney: R. Lisa Mojiri-Azad Legal Authority: 26 USC 7805; 26 USC (202) 622-6080 475 NPRM 05/02/95 60 FR 21482 Final Action 07/00/04 Reviewing attorney: Marjorie Hoffman CFR Citation: 26 CFR 1 (202) 622-6030 Regulatory Flexibility Analysis Legal Deadline: None Required: No Treasury attorney: W. Thomas Reeder (202) 622-1341 Abstract: The regulations address the Small Entities Affected: No relationship between mark-to-market CC:TEGE accounting and accrual of stated Government Levels Affected: None Agency Contact: R. Lisa Mojiri–Azad, interest, discount and premium, and Additional Information: REG-209768-95 Senior Attorney, Department of the between mark-to-market accounting and (FI-21-95)
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TREAS—IRS Final Rule Stage
Drafting attorney: Mary Brewer (202) 2736. ELECTRONIC TRANSMISSION Drafting attorney: Sean Dwyer (202) 622-3950 OF WITHHOLDING CERTIFICATES 622-5020 Reviewing attorney: Christina Morrison Priority: Substantive, Nonsignificant Drafting attorney: Donna Crisalli (202) (202) 622-3950 Legal Authority: 26 USC 7805; 26 USC 622-5020 Treasury attorney: Mike Novey (202) 6061; 26 USC 1441 CC:ITA 622-1339 CFR Citation: 26 CFR 1 Agency Contact: Sean Dwyer, Attorney–Advisor, Department of the Legal Deadline: None CC:FI Treasury, Internal Revenue Service, Agency Contact: Mary Brewer, Abstract: This regulation provides 1111 Constitution Avenue NW, Attorney–Advisor, Department of the guidance for the electronic transmission Washington, DC 20224 Treasury, Internal Revenue Service, of withholding certificates. Phone: 202 622–5020 1111 Constitution Avenue NW, Timetable: RIN: 1545–AW01 Washington, DC 20224 Action Date FR Cite Phone: 202 622–3950 NPRM 10/14/97 62 FR 53504 2738. MARK–TO–MARKET RIN: 1545–AT46 Final Action 12/00/04 ACCOUNTING FOR DEALERS IN COMMODITIES AND TRADERS IN Regulatory Flexibility Analysis SECURITIES AND COMMODITIES 2735. DEFINITION OF PRIVATE Required: No ACTIVITY BOND—REFUNDING Priority: Substantive, Nonsignificant Small Entities Affected: No REGULATIONS Legal Authority: 26 USC 475; 26 USC Government Levels Affected: None Priority: Substantive, Nonsignificant 7805 Additional Information: REG-107872-97 Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Drafting attorney: Carl M. Cooper (202) Legal Deadline: None CFR Citation: 26 CFR 1 622-3840 Abstract: This regulation provides Legal Deadline: None Reviewing attorney: Valerie A. Mark guidance concerning mark-to-market Lippe (202) 622-3840 Abstract: These regulations will accounting for securities traders and provide guidance on the application of CC:INTL commodities dealers and traders. the private loan test and the private Agency Contact: Carl M. Cooper, Timetable: business use and private Attorney–Advisor, Department of the Action Date FR Cite payments/security tests to refunding Treasury, Internal Revenue Service, bonds. 1111 Constitution Avenue NW, NPRM 01/28/99 64 FR 4374 Final Action 12/00/04 Timetable: Washington, DC 20224 Phone: 202 622–3840 Regulatory Flexibility Analysis Action Date FR Cite RIN: 1545–AV27 Required: No NPRM 12/30/94 59 FR 67658 Small Entities Affected: No NPRM Comment 05/01/95 Period End 2737. INTEREST ON EDUCATION Government Levels Affected: None Second NPRM 05/14/03 68 FR 25845 LOANS Additional Information: REG-104924-98 Final Action 12/00/04 Priority: Substantive, Nonsignificant Drafting attorney: Stephen J. Coleman Regulatory Flexibility Analysis Unfunded Mandates: Undetermined (202) 622-6289 Required: No Legal Authority: 26 USC 221; 26 USC Reviewing attorney: Robert Williams Small Entities Affected: No 7805 (202) 622-3157 CC:FI Government Levels Affected: None CFR Citation: 26 CFR 1 Legal Deadline: None Agency Contact: Stephen J. Coleman, Additional Information: REG-113007-99 Attorney–Advisor, Department of the Abstract: This regulation provides Treasury, Internal Revenue Service, Drafting attorney: Gary Bornholdt (202) guidance on the deduction of interest 622-7870 1111 Constitution Avenue NW, on education loans under section 221. Washington, DC 20224 Treasury attorney: Bruce M. Serchuk Timetable: Phone: 202 622–6289 (202) 622-1766 Action Date FR Cite RIN: 1545–AW06 CC:TEGE NPRM 01/21/99 64 FR 3257 Agency Contact: Gary W. Bornholdt, Final Action 07/00/04 2739. INTERCOMPANY OBLIGATIONS Attorney–Advisor, Department of the Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant Treasury, Internal Revenue Service, Required: No 1111 Constitution Avenue NW, Legal Authority: 26 USC 1502; 26 USC Washington, DC 20224 Small Entities Affected: No 7805 Phone: 202 622–7870 Government Levels Affected: None CFR Citation: 26 CFR 1 RIN: 1545–AU98 Additional Information: REG-116826-97 Legal Deadline: None
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TREAS—IRS Final Rule Stage
Abstract: The regulation provides Reviewing attorney: Jeffrey Dorfman Legal Authority: 26 USC 6045 clarification of the tax treatment of (202) 622-3870 CFR Citation: 26 CFR 1 certain transfers of intercompany CC:INTL obligations by or to a member of a Legal Deadline: None Agency Contact: Milton M. Cahn, consolidated group. Abstract: The regulation provides Attorney–Advisor, Department of the information reporting requirements for Timetable: Treasury, Internal Revenue Service, payments of gross proceeds made in the 1111 Constitution Avenue NW, Action Date FR Cite course of a trade or business to Washington, DC 20224 NPRM 12/18/98 63 FR 70354 attorneys in connection with legal Phone: 202 622–3870 NPRM Comment 03/22/99 services. Period End RIN: 1545–AW33 Timetable: Final Action 12/00/04 Action Date FR Cite Regulatory Flexibility Analysis 2741. CAPITAL GAIN GUIDANCE Required: No RELATING TO CRTS NPRM 05/21/99 64 FR 27730 Second NPRM 05/17/02 67 FR 35064 Small Entities Affected: No Priority: Substantive, Nonsignificant Final Action 12/00/04 Government Levels Affected: None Legal Authority: 26 USC 7805; 26 USC Regulatory Flexibility Analysis 1; 26 USC 664 Additional Information: REG-105964-98 Required: No CFR Citation: 26 CFR 1 Drafting attorney: Frances Kelly (202) Small Entities Affected: No 622-7072 Legal Deadline: None Government Levels Affected: None Reviewing attorney: Michael J. Wilder Abstract: The regulation provides (202) 622-3393 guidance relating to charitable Additional Information: REG-126024-01 Treasury attorney: Audrey Nacamuli remainder trusts in light of the changes Drafting attorney: Nancy L. Rose (202) (202) 622-5721 made to section 1(h) of the Internal 622-4910 Revenue Code by the Taxpayer Relief CC:COR Reviewing attorney: James C. Gibbons Act of 1997, the Internal Revenue (202) 622-4910 Agency Contact: Frances L. Kelly, Service Restructuring and Reform Act Attorney–Advisor, Department of the of 1998, and the Jobs and Growth Tax Treasury attorney: Eric San Juan (202) Treasury, Internal Revenue Service, Relief Reconciliation Act of 2003. 622-0224 1111 Constitution Avenue NW, Timetable: CC:PA:APJ Washington, DC 20224 Phone: 202 622–7770 Action Date FR Cite Agency Contact: Nancy L. Rose, Attorney–Advisor, Department of the NPRM 11/20/03 68 FR 65419 Related RIN: Related to 1545–BA11 Treasury, Internal Revenue Service, Final Action 12/00/04 RIN: 1545–AW30 1111 Constitution Avenue NW, Regulatory Flexibility Analysis Washington, DC 20224 Required: No Phone: 202 622–4910 2740. CONTINGENT DEBT INSTRUMENT Small Entities Affected: No RIN: 1545–AW72 Priority: Substantive, Nonsignificant Government Levels Affected: None Legal Authority: 26 USC 7805; 26 USC Additional Information: REG-110896-98 2743. DELAY RENTAL PAYMENTS 988 Drafting attorney: Theresa M. Priority: Substantive, Nonsignificant Melchiorre (202) 622-7830 CFR Citation: 26 CFR 1 Legal Authority: 26 USC 263 Reviewing attorney: Katherine A. Legal Deadline: None CFR Citation: 26 CFR 1 Mellody (202) 622-3090 Abstract: The regulation will prescribe Legal Deadline: None the tax treatment of section 988 debt Treasury attorney: Catherine Hughes Abstract: The regulations clarify that instruments that provide for contingent (202) 622-9407 section 1.612-3(c) applies to delay payments. CC:PSI rental payments to the extent that Timetable: Agency Contact: Theresa M. section 263A does not require the Action Date FR Cite Melchiorre, Attorney–Advisor, payments to be capitalized. Department of the Treasury, Internal NPRM 08/29/03 68 FR 51944 Revenue Service, 1111 Constitution Timetable: Final Action 12/00/04 Avenue NW, Washington, DC 20224 Action Date FR Cite Regulatory Flexibility Analysis Phone: 202 622–7830 NPRM 02/08/00 65 FR 6090 Required: No RIN: 1545–AW35 Public Hearing 05/26/00 Small Entities Affected: No Final Action 07/00/04 Government Levels Affected: None 2742. REPORTING OF PAYMENTS TO Regulatory Flexibility Analysis Required: Additional Information: REG-106486-98 ATTORNEY No Drafting attorney: Milton M. Cahn (202) Priority: Substantive, Nonsignificant Small Entities Affected: No 622-3870 Unfunded Mandates: Undetermined Government Levels Affected: None
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TREAS—IRS Final Rule Stage
Additional Information: REG-103882-99 2745. GUIDANCE ON COST Government Levels Affected: None RECOVERY IN THE ENTERTAINMENT Additional Information: REG-108639-99 Drafting attorney: Brenda M. Stewart INDUSTRY (202) 622-3120 Priority: Substantive, Nonsignificant Drafting attorney: R. Lisa Mojiri-Azad Reviewing attorney: J.H. Makurath (202) (202) 622-6080 Legal Authority: 26 USC 7805 622-3120 Reviewing attorney: Marjorie Hoffman CFR Citation: 26 CFR 1 Treasury attorney: John Parcell (202) (202) 622-6030 Legal Deadline: 622-2578 None Treasury attorney: W. Thomas Reeder CC:PSI Abstract: This regulation relates to the (202) 622-1341 application of the income forecast CC:TEGE Agency Contact: Brenda M. Stewart, method under section 167(g) of the Attorney–Advisor, Department of the Internal Revenue Code. Agency Contact: R. Lisa Mojiri–Azad, Treasury, Internal Revenue Service, Timetable: Senior Attorney, Department of the 1111 Constitution Avenue NW, Treasury, Internal Revenue Service, Washington, DC 20224 Action Date FR Cite 1111 Constitution Avenue NW, Phone: 202 622–3120 NPRM 05/31/02 67 FR 38025 Washington, DC 20224 RIN: 1545–AX06 Final Action 07/00/04 Phone: 202 622–6080 Regulatory Flexibility Analysis Related RIN: Related to 1545–AX43 Required: 2744. HIGHWAY VEHICLE— No RIN: 1545–AX26 DEFINITION Small Entities Affected: No Priority: Substantive, Nonsignificant Government Levels Affected: None 2747. CASH OR DEFERRED ARRANGEMENTS (TEMPORARY) Legal Authority: 26 USC 7805; 26 USC Additional Information: REG-103823-99 4051 Drafting attorney: Bernard P. Harvey, III Priority: Substantive, Nonsignificant (202) 622-3110 CFR Citation: 26 CFR 48 Legal Authority: 26 USC 7805 Reviewing attorney: Charles B. Ramsey CFR Citation: Legal Deadline: None (202) 622-3110 26 CFR 1 Abstract: This regulation provides Treasury attorney: George Manousos Legal Deadline: None amendments to regulations relating to (202) 622-0865 Abstract: The proposed regulations definition of a highway vehicle. CC:PSI update and revise regulations for cash or deferred arrangements. Timetable: Agency Contact: Bernard P. Harvey III, Action Date FR Cite Attorney–Advisor, Department of the Timetable: NPRM 06/06/02 67 FR 38913 Treasury, Internal Revenue Service, Action Date FR Cite 1111 Constitution Avenue NW., Public Hearing 02/27/03 Temporary 12/00/04 Final Action 12/00/04 Washington, DC 20224 Phone: 202 622–3110 Regulations Regulatory Flexibility Analysis RIN: 1545–AX12 Regulatory Flexibility Analysis Required: No Required: No
Small Entities Affected: No 2746. CASH OR DEFERRED Small Entities Affected: Businesses Government Levels Affected: None ARRANGEMENTS Government Levels Affected: None Additional Information: REG-103829-99 Priority: Substantive, Nonsignificant Additional Information: REG-108639-99 Legal Authority: Drafting attorney: Theodore N. 26 USC 7805 Drafting attorney: R. Lisa Mojiri-Azad Margopulos (202) 622-3130 CFR Citation: 26 CFR 1 (202) 622-6080 Reviewing attorneys: Frank Boland Legal Deadline: None Reviewing attorney: Marjorie Hoffman (202) 622-3130 and Phillip Howard Abstract: This regulation updates and (202) 622-6030 (202) 622-3000 revises regulations on qualified cash or Treasury attorney: W. Thomas Reeder Treasury attorney: John Parcell (202) deferred arrangements, matching (202) 622-1341 contributions, and employee 622-2578 CC:TEGE contributions. CC:PSI Timetable: Agency Contact: R. Lisa Mojiri–Azad, Senior Attorney, Department of the Agency Contact: Theodore N. Action Date FR Cite Margopulos, Attorney–Advisor, Treasury, Internal Revenue Service, Department of the Treasury, Internal NPRM 07/17/03 68 FR 42476 1111 Constitution Avenue NW, Revenue Service, 1111 Constitution Final Action 12/00/04 Washington, DC 20224 Phone: 202 622–6080 Avenue NW, Washington, DC 20224 Regulatory Flexibility Analysis Phone: 202 622–3130 Required: No Related RIN: Related to 1545–AX26 RIN: 1545–AX10 Small Entities Affected: Businesses RIN: 1545–AX43
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TREAS—IRS Final Rule Stage
2748. STOCK TRANSFER RULES— Timetable: Treasury, Internal Revenue Service, CARRYOVER OF EARNINGS AND Action Date FR Cite 1111 Constitution Avenue NW, TAXES Washington, DC 20224 NPRM 02/05/90 55 FR 3750 Priority: Phone: 202 622–6080 Substantive, Nonsignificant Final Action 12/00/04 RIN: 1545–AX84 Legal Authority: 26 USC 7805; 26 USC Regulatory Flexibility Analysis 367 Required: No 2751. APPLICATION OF SEPARATE CFR Citation: 26 CFR 1 Small Entities Affected: No FOREIGN TAX CREDIT LIMITATIONS Legal Deadline: None Government Levels Affected: None Priority: Substantive, Nonsignificant Abstract: This regulation provides Additional Information: REG-117608-99 guidance with respect to how earnings Legal Authority: 26 USC 904; 26 USC and profits and foreign income tax Drafting attorney: David F. Bergkuist 7805 (202) 622-3850 accounts carry over under section 381 CFR Citation: 26 CFR 1 and are allocated under section 312 in Reviewing attorney: Anne O. Devereaux certain transactions described in (202) 622-3850 Legal Deadline: None section 367(b) of the Internal Revenue CC:INTL Abstract: This regulation clarifies the Code. application of separate foreign tax Agency Contact: David F. Bergkuist, Timetable: credit limitations under sections 904(b) Attorney–Advisor, Department of the and 904(d) of the Code and revises the Action Date FR Cite Treasury, Internal Revenue Service, rules for computing post-1986 1111 Constitution Avenue NW, NPRM 11/15/00 65 FR 69138 undistributed earnings and taxes of Washington, DC 20224 Final Action 12/00/04 foreign corporations under section 902 Phone: 202 622–3850 of the Code. Regulatory Flexibility Analysis RIN: 1545–AX72 Required: No Timetable: Small Entities Affected: No Action Date FR Cite 2750. HIPAA PORTABILITY Government Levels Affected: None NPRM 01/03/01 66 FR 319 Priority: Substantive, Nonsignificant Additional Information: REG-116050-99 Final Action 12/00/04 Legal Authority: 26 USC 7805; 26 USC Regulatory Flexibility Analysis Drafting attorney: Mark R. Pollard (202) 9833 622-3850 Required: No CFR Citation: 26 CFR 54 Small Entities Affected: No Reviewing attorney: Anne Devereaux Legal Deadline: None (202) 622-3850 Government Levels Affected: None Abstract: These regulations provide Treasury attorney: Michael Caballero guidance to group health plans Additional Information: REG-104683-00 (202) 622-0851 regarding the limitations on imposing Drafting attorney: Bethany Ingwalson CC:INTL pre-existing condition exclusions and (202) 622-3850 Agency Contact: Mark R. Pollard, the special enrollment rules. These Reviewing attorney: Barbara A. Felker Attorney–Advisor, Department of the regulations also provide guidance (202) 622-3850 Treasury, Internal Revenue Service, regarding plans and benefits that are Treasury attorney: Michael Caballero 1111 Constitution Avenue NW, not subject to these rules. (202) 622-0851 Washington, DC 20224 Timetable: CC:INTL Phone: 202 622–3850 Action Date FR Cite Agency Contact: Bethany Ingwalson, RIN: 1545–AX65 NPRM 04/08/97 62 FR 16977 Senior Counsel, Department of the Final Action 09/00/04 Treasury, Internal Revenue Service, 2749. ALLOCATION AND Regulatory Flexibility Analysis 1111 Constitution Avenue NW, APPORTIONMENT OF INTEREST Required: No Washington, DC 20224 EXPENSE AND CERTAIN OTHER Small Entities Affected: Phone: 202 622–3850 EXPENSES No Government Levels Affected: None RIN: 1545–AX88 Priority: Substantive, Nonsignificant Additional Information: REG-119828-99 Legal Authority: 26 USC 7805; 26 USC 2752. CAPITALIZATION OF INTEREST 864 Drafting attorney: Russell Weinheimer (202) 622-6080 AND CARRYING CHARGES CFR Citation: 26 CFR 1 PROPERLY ALLOCABLE TO Reviewing attorney: Alan Tawshunsky STRADDLES Legal Deadline: None (202) 622-6000 Priority: Substantive, Nonsignificant Abstract: These regulations provide Treasury attorney: Kevin Knopf (202) rules for the allocation and 622-2329 Legal Authority: 26 USC 7805; 26 USC apportionment of interest expenses and 263; 26 USC 1092 certain other expenses for purposes of CC:TEGE the foreign tax credit and certain other Agency Contact: Russell Weinheimer, CFR Citation: 26 CFR 1 international tax provisions. Attorney–Advisor, Department of the Legal Deadline: None
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TREAS—IRS Final Rule Stage
Abstract: These regulations will clarify Additional Information: REG-106736-00 2755. WITHHOLDING TAX ON FOREIGN PARTNERS’ SHARE OF the types of payments that may be Drafting attorney: Horace Howells (202) EFFECTIVELY CONNECTED INCOME ‘‘interest’’ or ‘‘carrying charges’’ subject 622-3050 to 26 U.S.C. 263(g), clarify the Priority: Substantive, Nonsignificant operation of the capitalization rules of Reviewing attorney: Dianna Miosi (202) 26 U.S.C. 263(g), and also clarify what 622-3050 Legal Authority: 26 USC 7805; 26 USC 1446 constitutes ‘‘positions’’ and ‘‘losses’’ Treasury attorney: Deborah Harrington subject to 26 U.S.C. 1092. (202) 622-1788 CFR Citation: 26 CFR 1 Timetable: CC:PSI Legal Deadline: None Action Date FR Cite Abstract: Agency Contact: Horace W. Howells, This regulation will provide NPRM 01/18/01 66 FR 4746 Attorney–Advisor, Department of the guidance for partnership withholding Comment Period End 05/01/01 Treasury, Internal Revenue Service, on partners’ allocable share of Final Action 07/00/04 1111 Constitution Avenue NW, partnership’s effectively connected income. Regulatory Flexibility Analysis Washington, DC 20224 Required: No Phone: 202 622–3050 Timetable: Small Entities Affected: No Related RIN: Related to 1545–BB83 Action Date FR Cite Government Levels Affected: None RIN: 1545–AX93 NPRM 09/03/03 68 FR 52466 Final Action 07/00/04 Additional Information: REG-105801-00 2754. AUTHORIZED PLACEMENT Regulatory Flexibility Analysis Drafting attorney: Mary Brewer (202) Required: No 622-3950 AGENCY Small Entities Affected: Businesses Reviewing attorney: Christina Morrison Priority: Substantive, Nonsignificant Government Levels Affected: (202) 622-3950 Legal Authority: 26 USC 152 Undetermined Treasury attorney: Mike Novey (202) CFR Citation: 26 CFR 1 622-1339 Additional Information: REG-108524-00 Legal Deadline: None CC:FI Drafting attorney: David J. Sotos (202) Abstract: This regulation amends the 622-3860 Agency Contact: Mary Brewer, definition of ‘‘authorized placement Attorney–Advisor, Department of the Reviewing attorney: Michael H. Frankel agency’’ (for purposes of determining Treasury, Internal Revenue Service, (202) 622-3860 whether a child placed for legal 1111 Constitution Avenue NW, adoption in a taxpayer’s home is a Treasury attorney: Michael Caballero Washington, DC 20224 dependent of the taxpayer) to include (202) 622-0851 Phone: 202 622–3950 biological parents and other persons CC:INTL RIN: 1545–AX92 authorized by State law to place Agency Contact: David J. Sotos, children for legal adoption. Attorney–Advisor, Department of the 2753. ASSUMPTION OF Timetable: Treasury, Internal Revenue Service, PARTNERSHIP LIABILITIES Action Date FR Cite 1111 Constitution Avenue NW, Priority: Substantive, Nonsignificant Washington, DC 20224 NPRM 11/30/00 65 FR 71277 Phone: 202 622–3860 Unfunded Mandates: Undetermined Final Action 12/00/04 RIN: 1545–AY28 Legal Authority: 26 USC 752 Regulatory Flexibility Analysis CFR Citation: 26 CFR 1 Required: No 2756. HIPAA GENERAL Legal Deadline: None Small Entities Affected: No NONDISCRIMINATION Abstract: This regulation prevents the Government Levels Affected: None Priority: Substantive, Nonsignificant acceleration or duplication of losses Additional Information: REG-107279-00 Legal Authority: 26 USC 7805; 26 USC through the assumption of liabilities in 9833 transactions involving partnerships. Drafting attorney: Elizabeth K. Kaye CFR Citation: Timetable: (202) 622-4910 26 CFR 54 Legal Deadline: None Action Date FR Cite Reviewing attorney: Pamela W. Fuller (202) 622-4910 Abstract: These regulations provide NPRM 06/24/03 68 FR 37434 guidance regarding the requirements Final Action 12/00/04 CC:PA:APJ imposed on group health plans not to Agency Contact: Regulatory Flexibility Analysis Elizabeth K. Kaye, discriminate in rules for eligibility Required: No Attorney–Advisor, Department of the under the plan on the basis of any Treasury, Internal Revenue Service, Small Entities Affected: No health factor, and not to require any 1111 Constitution Avenue NW, individual to pay a higher premium or Government Levels Affected: Washington, DC 20224 contribution for coverage under the Undetermined Phone: 202 622–4910 plan than any similarly situated Federalism: Undetermined RIN: 1545–AY18 individual based on any health factor.
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TREAS—IRS Final Rule Stage
Timetable: CC:TEGE CFR Citation: 26 CFR 1 Action Date FR Cite Agency Contact: Russell Weinheimer, Legal Deadline: None NPRM 01/08/01 66 FR 1435 Attorney–Advisor, Department of the Abstract: This regulation relates to Final Action 12/00/04 Treasury, Internal Revenue Service, information reporting on the 1111 Constitution Avenue NW, cancellation of indebtedness. Regulatory Flexibility Analysis Washington, DC 20224 Required: No Phone: 202 622–6080 Timetable: Small Entities Affected: No RIN: 1545–AY33 Action Date FR Cite Government Levels Affected: None NPRM 06/13/02 67 FR 40629 Additional Information: REG-114082-00 2758. HIPAA NONDISCRIMINATION Public Hearing 10/08/02 EXCEPTION FOR BONA FIDE Final Action 12/00/04 Drafting attorney: Russell Weinheimer WELLNESS PROGRAMS Regulatory Flexibility Analysis (202) 622-6080 Priority: Substantive, Nonsignificant Required: No Reviewing attorney: Alan Tawshunsky Small Entities Affected: No (202) 622-6000 Legal Authority: 26 USC 7805; 26 USC 9833 Government Levels Affected: None Treasury attorney: Kevin Knopf (202) 622-2329 CFR Citation: 26 CFR 1 Additional Information: REG-107524-00 CC:TEGE Legal Deadline: None Drafting attorney: Joseph P. Dewald (202) 622-4910 Agency Contact: Russell Weinheimer, Abstract: These regulations provide Attorney–Advisor, Department of the guidance regarding the exception for Reviewing attorney: Donna Welch (202) Treasury, Internal Revenue Service, certain wellness programs to the 622-4910 1111 Constitution Avenue NW, general rule imposed on group health plans not to require a higher premium Treasury attorney: Michael Novey (202) Washington, DC 20224 622-1339 Phone: 202 622–6080 or contribution from an individual than from a similarly situated individual CC:PA:APJ RIN: 1545–AY32 based on any health factor. Agency Contact: Joseph P. Dewald, Timetable: Attorney–Advisor, Department of the 2757. HIPAA NONDISCRIMINATION Action Date FR Cite Treasury, Internal Revenue Service, EXCEPTION FOR CHURCH PLANS 1111 Constitution Avenue NW, NPRM 01/08/01 66 FR 1421 Priority: Substantive, Nonsignificant Washington, DC 20224 Final Action 12/00/04 Phone: 202 622–4910 Legal Authority: 26 USC 7805; 26 USC Regulatory Flexibility Analysis RIN: 1545–AY35 7853 Required: No CFR Citation: 26 CFR 1 Small Entities Affected: No 2760. ALLOCATION OF INCOME AND Legal Deadline: None Government Levels Affected: None DEDUCTIONS FROM INTANGIBLES Abstract: These regulations provide Additional Information: REG-114084-00 Priority: Substantive, Nonsignificant guidance on the exception for certain grandfathered church plans from the Drafting attorney: Russell Weinheimer Legal Authority: 26 USC 7805; 26 USC general rule requiring group health (202) 622-6080 482 plans not to discriminate in rules for Reviewing attorney: Alan Tawnshunsky CFR Citation: 26 CFR 1 eligibility on the basis of any health (202) 622-6080 Legal Deadline: None factor. Treasury attorney: Kevin Knopf (202) Abstract: These final regulations will Timetable: 622-2329 address certain transactions between Action Date FR Cite CC:TEGE controlled parties that involve NPRM 01/10/01 66 FR 1437 Agency Contact: Russell Weinheimer, intangibles. The regulations will Final Action 12/00/04 Attorney–Advisor, Department of the provide rules for allocation of income Treasury, Internal Revenue Service, and deductions with respect to Regulatory Flexibility Analysis 1111 Constitution Avenue NW, intangibles pursuant to IRC 5482. Required: No Washington, DC 20224 Timetable: Small Entities Affected: No Phone: 202 622–6080 Action Date FR Cite Government Levels Affected: None RIN: 1545–AY34 Final Action 12/00/04 Additional Information: REG-114083-00 Regulatory Flexibility Analysis 2759. INFORMATION REPORTING ON Drafting attorney: Russell Weinheimer Required: No (202) 622-6080 CANCELLATION OF INDEBTEDNESS Small Entities Affected: No Reviewing attorney: Alan Tawnshunsky Priority: Substantive, Nonsignificant Government Levels Affected: (202) 622-6000 Unfunded Mandates: Undetermined None Treasury attorney: Kevin Knopf (202) Legal Authority: 26 USC 7805; 26 USC Federalism: Undetermined 622-2329 6050 Additional Information: REG-115037-00
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TREAS—IRS Final Rule Stage
Drafting attorneys: Helen Hong-George 66 FR 66) under section 355(e) of the CC:COR (202) 435-5220; Thomas A. Vidano Internal Revenue Code of 1986. A Agency Contact: Mark Weiss, (202) 435-5265 public hearing regarding those Attorney–Advisor, Department of the Reviewing attorney: John M. Breen proposed regulations was held on May Treasury, Internal Revenue Service, (202) 435-5265 15, 2001. On August 3, 2001, those 1111 Constitution Avenue NW, proposed regulations were published as Treasury attorney: Rocco Femia (202) Washington, DC 20224 temporary regulations in the Federal Phone: 202 622–7790 622-1755 Register (REG-107566-00; 66 FR 40590). RIN: CC:INTL This regulation withdraws the notice of 1545–AY49 proposed rulemaking that was Agency Contact: Thomas A. Vidano, published on January 2, 2001, and Attorney–Advisor, Department of the 2763. TAX TREATMENT OF provides new rules under section Treasury, Internal Revenue Service, CAFETERIA PLANS 355(e) of the Internal Revenue Code of 1111 Constitution Avenue NW, 1986 by cross-reference to temporary Priority: Substantive, Nonsignificant Washington, DC 20224 regulations published in the same issue Legal Authority: 26 USC 125 Phone: 202 435–5265 of the Federal Register. CFR Citation: 26 CFR 1 RIN: 1545–AY38 Agency Contact: Amber R. Cook, Legal Deadline: None Attorney–Advisor, Department of the 2761. GUIDANCE UNDER SECTION Treasury, Internal Revenue Service, Abstract: This regulation provides 355(E); RECOGNITION OF GAIN ON 1111 Constitution Avenue NW, information about the tax treatment of CERTAIN DISTRIBUTIONS OF STOCK Washington, DC 20224 cafeteria plans. OR SECURITIES IN CONNECTION Phone: 202 622–7530 Timetable: WITH AN ACQUISITION Related RIN: Related to 1545–BA55 Action Date FR Cite Priority: Substantive, Nonsignificant RIN: 1545–AY42 NPRM 01/10/01 66 FR 1923 Legal Authority: 26 USC 7805; 26 USC Final Action 12/00/04 355(e)(5) 2762. ELECTION—ASSET Regulatory Flexibility Analysis CFR Citation: 26 CFR 1 ACQUISITIONS OF INSURANCE Required: No Legal Deadline: None COMPANIES Small Entities Affected: No Priority: Abstract: This regulation provides Substantive, Nonsignificant Government Levels Affected: Federal guidance on section 355(e) of the Legal Authority: 26 USC 197; 26 USC Additional Information: REG-209461-79 Internal Revenue Code. Section 355(e) 338; 26 USC 7805 Drafting attorney: Christine Keller (202) provides that a distributing corporation CFR Citation: 26 CFR 1 will recognize gain on the distribution 622-6080 of stock of a controlled corporation if Legal Deadline: None Reviewing attorney: Janet A. Laufer 50 percent or more of the stock of the Abstract: The regulations prescribe the (202) 622-6090 distributing corporation or controlled manner in which the various provisions CC:TEGE corporation is acquired pursuant to a of subchapter L, chapter 1, subtitle A plan that includes the distribution. of the Internal Revenue Code apply to Agency Contact: Christine Keller, Attorney–Advisor, Department of the Timetable: asset acquisitions deemed to occur by reason of a section 338 election as well Treasury, Internal Revenue Service, Action Date FR Cite as to actual acquisitions of insurance 1111 Constitution Avenue NW, NPRM 04/26/02 67 FR 20711 company assets subject to section 1060. Washington, DC 20224 Phone: 202 622–6080 Final Action 12/00/04 Timetable: RIN: 1545–AY67 Regulatory Flexibility Analysis Action Date FR Cite Required: No NPRM 03/08/02 67 FR 10640 2764. NORMALIZATION Small Entities Affected: No Public Hearing 09/18/02 Government Levels Affected: None Final Action 09/00/04 Priority: Substantive, Nonsignificant Additional Information: REG-163892-01 Regulatory Flexibility Analysis Legal Authority: 26 USC 7805; 26 USC Required: No 167; 26 USC 168; 26 USC 46 Drafting attorney: Amber R. Cook (202) 622-7530 Small Entities Affected: No CFR Citation: 26 CFR 1 Reviewing attorney: Stephen P. Fattman Government Levels Affected: None Legal Deadline: None (202) 622-7700 Additional Information: REG-118861-00 Abstract: These regulations relate to the sale or deregulation of generation Treasury attorney: Audrey Nacamuli Drafting attorney: Mark Weiss (202) assets. (202) 622-5721 622-7790 Timetable: CC:CORP:4 Reviewing attorney: Filiz Serbes (202) On January 2, 2001, a notice of 622-7790 Action Date FR Cite proposed rulemaking was published in Treasury attorney: Audrey Nacamuli NPRM 03/04/03 68 FR 10190 the Federal Register (REG-107566-00; (202) 622-0869 Final Action 12/00/04
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TREAS—IRS Final Rule Stage
Regulatory Flexibility Analysis Treasury, Internal Revenue Service, The temporary regulations also use the Required: No 1111 Constitution Avenue NW, REG-126485-01 number. The document Small Entities Affected: No Washington, DC 20224 published with respect to the Phone: 202 622–3040 temporary regulations also serve as Government Levels Affected: RIN: 1545–AY87 final regulations. The final regulations Undetermined use RIN 1545-BB46 and REG-162729- Additional Information: REG-104385-01 02. Once the temporary regulations 2766. MERGERS INVOLVING were published, the final regulations Drafting attorney: David Selig (202) DISREGARDED ENTITIES 622-3040 (REG-162729-02; RIN 1545-BB46) were Priority: Substantive, Nonsignificant closed. Reviewing attorney: Peter Friedman Agency Contact: Richard M. Heinecke, (202) 622-3110 Legal Authority: 26 USC 368; 26 USC 7805 Attorney–Advisor, Department of the Treasury attorney: John Parcell (202) CFR Citation: 26 CFR 1 Treasury, Internal Revenue Service, 622-2578 1111 Constitution Avenue NW, Legal Deadline: None CC:PSI Washington, DC 20224 Abstract: The regulation will provide Phone: 202 622–7930 Agency Contact: David Selig, guidance concerning the requirements Attorney–Advisor, Department of the Related RIN: Related to 1545–BB46 to be met in order for a merger or Treasury, Internal Revenue Service, consolidation to qualify as a RIN: 1545–BA06 1111 Constitution Avenue NW, reorganization under section Washington, DC 20224 368(a)(1)(A). They will also address Phone: 202 622–3040 2767. REDUCTIONS OF ACCRUALS whether certain mergers involving AND ALLOCATIONS BECAUSE OF RIN: 1545–AY75 disregarded entities can qualify as INCREASED AGE reorganizations under section Priority: Substantive, Nonsignificant 368(a)(1)(A). 2765. NEW MARKET TAX CREDIT Legal Authority: Timetable: 26 USC 7805; 26 USC Priority: Substantive, Nonsignificant 411 Action Date FR Cite Legal Authority: 26 USC 45D; 26 USC CFR Citation: 26 CFR 1 NPRM 11/15/01 66 FR 57400 7805 Legal Deadline: Final, Statutory, Second NPRM 01/24/03 68 FR 3477 CFR Citation: February 1, 1988. 26 CFR 1 Final Action 12/00/04 Abstract: These regulations will Legal Deadline: None Regulatory Flexibility Analysis prescribe rules regarding the Abstract: These regulations relate to Required: No requirement that accruals and the new markets tax credit under Small Entities Affected: No allocations under qualified retirement section 45D, which was enacted by plans cannot be reduced because of the section 121(a) of the Community Government Levels Affected: None attainment of any age. Renewal Tax Relief Act of 2000 (Pub. Additional Information: REG-126485-01 Timetable: L. 106-554). Drafting attorneys: Richard M. Heinecke Timetable: (202) 622-7930 Action Date FR Cite Action Date FR Cite Reviewing attorney: Reginald NPRM 12/11/02 67 FR 76123 Mombrum (202) 622-7930 Hearing 04/09/03 ANPRM 05/01/01 66 FR 21844 Final Action 12/00/04 NPRM 12/26/01 66 FR 66376 Treasury attorney: Audrey Nacamuli Public Hearing 03/14/02 (202) 622-5721 Regulatory Flexibility Analysis Final Action 12/00/04 CC:CORP Required: No Regulatory Flexibility Analysis RIN 1545-BA06 and its corresponding Small Entities Affected: Businesses, Required: No number REG-126485-01 was first Organizations Small Entities Affected: No opened with respect to a proposed Government Levels Affected: None regulation that was first published in Additional Information: REG-209500-86 Government Levels Affected: the Federal Register on November 15, Undetermined 2001. The November 15, 2001, Drafting attorney: Linda S.F. Marshall Additional Information: REG-119436-01 proposed regulations were withdrawn (202) 622-6090 by proposed regulations in the Federal Reviewing attorney: Marjorie Hoffman Drafting attorney: Paul F. Handleman Register on January 24, 2003. The (202) 622-6090 (202) 622-3040 January 24, 2003, proposed regulations Treasury attorney: Harlan Weller (202) Reviewing attorney: Susan Reaman with the same REG-126485-01, not only 622-1001 (202) 622-3040 withdrew the November 15, 2001, CC:TEGE Treasury attorney: Steve Watson (202) proposed regulations but also served as 622-1322 a cross-referencing proposed regulation Agency Contact: Linda S.F. Marshall, to a temporary regulation published in Senior Counsel, Department of the CC:PSI the Federal Register on January 24, Treasury, Internal Revenue Service, Agency Contact: Paul F. Handleman, 2003, and a notice of proposed 1111 Constitution Avenue NW, Attorney–Advisor, Department of the rulemaking. Washington, DC 20224
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TREAS—IRS Final Rule Stage
Phone: 202 622–6090 Timetable: excess of the fair market value of the Related RIN: Related to 1545–BB79 Action Date FR Cite stock acquired pursuant to the exercise of the statutory stock option over the RIN: 1545–BA10 NPRM 08/19/03 68 FR 49729 amount paid for the stock and that Final Action 12/00/04 income tax withholding is not required 2768. PROCUREMENT/PURCHASING Regulatory Flexibility Analysis when an individual exercises a CARD REPORTING Required: No statutory stock option because no income is recognized at the time of Small Entities Affected: Priority: Substantive, Nonsignificant No exercise by reason of section 421(a)(1). Legal Authority: 26 USC 6041; 26 USC Government Levels Affected: None Timetable: 3406; 26 USC 6724 Additional Information: REG-140378-01 Action Date FR Cite CFR Citation: 26 CFR 1 Drafting attorney: Robin M. Ferguson NPRM 11/13/01 66 FR 57023 (202) 622-3610 Legal Deadline: None Public Hearing 05/14/02 67 FR 5076 Abstract: These regulations provide Reviewing attorney: Alan Levine (202) Final Action 12/00/04 guidance on the rules relating to 622-3610 Regulatory Flexibility Analysis information reporting, backup CC:PA:CBS Required: No withholding, and penalties for Agency Contact: Robin M. Ferguson, Small Entities Affected: transactions with payments made with No Attorney–Advisor, Department of the a procurement/purchasing card. Government Levels Affected: None Treasury, Internal Revenue Service, Timetable: 1111 Constitution Avenue NW, Additional Information: REG-142686-01 Action Date FR Cite Washington, DC 20224 Drafting attorney: Stephen B. Tackney Phone: 202 622–3610 (202) 622-6040 NPRM 01/31/03 68 FR 4970 Final Action 12/00/04 RIN: 1545–BA22 Reviewing attorney: Michael A. Swim (202) 622-6040 Regulatory Flexibility Analysis Required: No 2770. APPLICATION OF THE Treasury attorney: Bill Bortz (202) 622- FEDERAL INSURANCE 1352 Government Levels Affected: CONTRIBUTIONS ACT, FEDERAL CC:TEGE Undetermined UNEMPLOYMENT TAX ACT, AND Additional Information: REG-116641-01 COLLECTION OF INCOME TAX AT Agency Contact: Stephen B. Tackney, Attorney–Advisor, Department of the Drafting attorney: Donna J. Welch (202) SOURCE TO STATUTORY STOCK OPTIONS Treasury, Internal Revenue Service, 622-4910 1111 Constitution Avenue NW, Priority: Reviewing attorney: John McGreevy Substantive, Nonsignificant. Washington, DC 20224 (202) 622-4910 Major status under 5 USC 801 is Phone: 202 622–6030 undetermined. Treasury attorney: John Parcell (202) RIN: 1545–BA26 Unfunded Mandates: 622-2578 Undetermined Legal Authority: 26 USC 3101; 26 USC CC:PA:APJ 2771. AMENDMENT TO THE 3111; 26 USC 3121; 26 USC 3301; 26 DEFINITION OF REFUNDING Agency Contact: Donna J. Welch, USC 3306; 26 USC 3401; 26 USC 3402; Attorney–Advisor, Department of the 26 USC 7805 Priority: Substantive, Nonsignificant Treasury, Internal Revenue Service, CFR Citation: Legal Authority: 26 USC 7805 1111 Constitution Avenue NW, 26 CFR 31 Washington, DC 20224 Legal Deadline: None CFR Citation: 26 CFR 1 Phone: 202 622–4910 Abstract: The regulations under Legal Deadline: None Related RIN: Related to 1545–BB88 sections 424, 3121, 3306, and 3401 Abstract: This regulation will amend clarify the application of the Federal RIN: 1545–BA17 the definition of a refunding issue Insurance Contributions Act (FICA), applicable to tax-exempt bonds issued Federal Unemployment Tax Act by State and local governments. 2769. PROPERTY EXEMPT FROM (FUTA), and the Collection of Income LEVY Tax at Source to statutory stock Timetable: Priority: Substantive, Nonsignificant options; i.e., incentive stock options Action Date FR Cite under section 422 (ISOs) and options NPRM 04/10/02 67 FR 17310 Legal Authority: 26 USC 6334 granted under employee stock purchase Final Action 12/00/04 CFR Citation: 26 CFR 301 plans under section 423 (ESPP options). The regulations provide that at the time Regulatory Flexibility Analysis Legal Deadline: None of the exercise of a statutory stock Required: No Abstract: This regulation will describe option, the individual who was granted Small Entities Affected: No the judicial procedures for approval of the statutory stock option receives a principal residence seizure, pursuant wages for FICA and FUTA purposes. Government Levels Affected: Local, to I.R.C. sections 6334(a)(13(B)(i) and The regulations also provide that the State 6334(e)(1). amount of wages received equals the Additional Information: REG-165706-01
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TREAS—IRS Final Rule Stage
Drafting attorney: Michael P. Brewer 2773. REQUIRED DISTRIBUTIONS Small Entities Affected: No (202) 622-3980 FROM RETIREMENT PLANS Government Levels Affected: None Priority: Substantive, Nonsignificant Reviewing attorney: Timothy L. Jones Additional Information: REG-209377-89 (202) 622-3980 Legal Authority: 26 USC 401(a)(9) Drafting attorney: Tara P. Volungis CC:TEGE CFR Citation: 26 CFR 1 (202) 622-3080 Legal Deadline: None Agency Contact: Michael P. Brewer, Reviewing attorney: Christine Ellison Attorney–Advisor, Department of the Abstract: This regulation relates to (202) 622-3070 Treasury, Internal Revenue Service, required minimum distributions from 1111 Constitution Avenue NW., defined benefit plans and annuity Treasury attorney: John Parcell (202) Washington, DC 20224 contracts. 622-2578 Phone: 202 622–3980 Timetable: CC:PSI RIN: 1545–BA46 Action Date FR Cite Agency Contact: Tara P. Volungis, Attorney–Advisor, Department of the NPRM 04/17/02 67 FR 18834 Treasury, Internal Revenue Service, 2772. LOSS LIMITATION RULES Hearing 09/04/02 67 FR 56509 1111 Constitution Avenue NW, Final Action 07/00/04 Priority: Substantive, Nonsignificant Washington, DC 20224 Regulatory Flexibility Analysis Phone: 202 927–3080 Legal Authority: 26 USC 7805; 26 USC Required: No 337(d) RIN: 1545–BA69 Small Entities Affected: No CFR Citation: 26 CFR 1; 26 CFR 602 Government Levels Affected: None 2775. CIRCULAR 230—TAX SHELTER Legal Deadline: None Additional Information: REG-108697-02 AMENDMENTS Abstract: The regulation provides Drafting attorney: Cathy A. Vohs (202) Priority: Substantive, Nonsignificant guidance on the treatment of certain 622-6090 losses recognized on sales of subsidiary Unfunded Mandates: Undetermined Reviewing attorney: Marjorie Hoffman stock by members of a consolidated (202) 622-6000 Legal Authority: 31 USC 330 group under section 337(d) and section 1502 of the Internal Revenue Code. For CC:TEGE CFR Citation: 31 CFR 10 related matters, see the proposed Agency Contact: Cathy A. Vohs, Legal Deadline: None regulations published on March 12, Attorney–Advisor, Department of the Abstract: These regulations propose 2002, at 67 FR 11070 regarding REG- Treasury, Internal Revenue Service, amendments to the standards for tax 102740-02. 1111 Constitution Avenue NW, opinions related to tax shelters. Timetable: Washington, DC 20224 Phone: 202 622–6090 Timetable: Action Date FR Cite Related RIN: Related to 1545–AY69, Action Date FR Cite NPRM 05/31/02 67 FR 38040 Related to 1545–AY70 Final Action 12/00/04 NPRM 12/30/03 68 FR 75186 RIN: 1545–BA60 Final Action 12/00/04 Regulatory Flexibility Analysis Regulatory Flexibility Analysis Required: No 2774. INTEREST OTHER THAN THAT Required: No Small Entities Affected: No OF A CREDITOR Small Entities Affected: No Government Levels Affected: Priority: Substantive, Nonsignificant None Government Levels Affected: None Additional Information: REG-123305-02 Legal Authority: 26 USC 465; 26 USC 7805 Additional Information: REG-122379-02 Drafting attorney: Lola L. Johnson (202) CFR Citation: 26 CFR 1 Drafting attorney: Brinton T. Warren 622-7550 (202) 622-7800 Legal Deadline: None Reviewing attorney: Sean P. Duffley Reviewing attorney: Richard S. (202) 622-7530 Abstract: This regulation provides guidance under section 465(b)(3) of the Goldstein (202) 622-3400 CC:COR Internal Revenue Code. The regulations Treasury attorney: Julian Kim (202) Agency Contact: Lola L. Johnson, state when 465(b)(3) will apply to 622-1981 activities and clarify who has an Attorney–Advisor, Department of the CC:PA:APJ Treasury, Internal Revenue Service, interest other than that of a creditor. Agency Contact: 1111 Constitution Avenue NW, Timetable: Brinton T. Warren, Attorney–Advisor, Department of the Washington, DC 20224 Action Date FR Cite Phone: 202 622–7550 Treasury, Internal Revenue Service, NPRM 07/08/03 68 FR 40583 1111 Constitution Avenue NW, Related RIN: Related to 1545–BA51, Final Action 12/00/04 Washington, DC 20224 Related to 1545–BA74 Regulatory Flexibility Analysis Phone: 202 622–4940 RIN: 1545–BA52 Required: No RIN: 1545–BA70
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TREAS—IRS Final Rule Stage
2776. CARRYBACK OF Timetable: Agency Contact: John T. Ricotta, CONSOLIDATED NET OPERATING Action Date FR Cite Attorney–Advisor, Department of the LOSSES TO SEPARATE RETURN Treasury, Internal Revenue Service, YEARS NPRM 06/09/03 68 FR 34344 1111 Constitution Avenue NW, Final Action 08/00/04 Washington, DC 20224 Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis Phone: 202 622–6060 Legal Authority: 26 USC 7805; 26 USC Required: No RIN: 1545–BA78 1502 Small Entities Affected: No CFR Citation: 26 CFR 1 Government Levels Affected: None 2779. REDEMPTIONS TREATED AS Legal Deadline: None Additional Information: REG-122917-02 DIVIDENDS Abstract: The regulation will Drafting attorney: Erinn M. Madden Priority: Substantive, Nonsignificant harmonize the waiver election in (202) 622-6030 Unfunded Mandates: Undetermined regulations section 1.1502-21(b)(3) with the amendments to IRC 172(b) with the Reviewing attorney: Robert Misner Legal Authority: 26 USC 7805 (202) 622-6030 Job Creation and Worker Assistance Act CFR Citation: 26 CFR 1 of 2002. Treasury attorney: Dan Hogans (202) 622-1332 Legal Deadline: None Timetable: CC:TEGE Abstract: This regulation under section Action Date FR Cite 302 of the Internal Revenue Code Agency Contact: Erinn M. Madden, (Code), permits basis of redeemed stock NPRM 05/31/02 67 FR 38039 Attorney–Advisor, Department of the Final Action 12/00/04 to be recovered by the redeemed Treasury, Internal Revenue Service, shareholder. Regulations under section Regulatory Flexibility Analysis 1111 Constitution Avenue NW, 304 of the Code reflect changes made Required: No Washington, DC 20224 by the Internal Revenue Service Phone: 202 622–6030 Small Entities Affected: No Restructuring and Reform Act of 1998, RIN: 1545–BA75 Taxpayer Relief Act of 1997, Tax Government Levels Affected: None Reform Act of 1986, Deficit Reduction Additional Information: REG-122564-02 2778. DISCLOSURE OF RELATIVE Act of 1984, and the Tax Equity and VALUE OF DISTRIBUTION FORMS Fiscal Responsibility Act of 1982 to the Drafting attorney: Theresa Kolish (202) statute. Regulations under section 304 622-7530 Priority: Substantive, Nonsignificant also reference proposed regulations Reviewing attorney: Lewis Brickates Legal Authority: 26 USC 7805(b); 26 under section 302 as they relate to the (202) 622-7530 USC 417(a)(3)(A) treatment of basis of redeemed stock in redemptions treated as dividends. Treasury attorney: Audrey Nacamuli CFR Citation: 26 CFR 1 Timetable: (202) 622-5721 Legal Deadline: None Action Date FR Cite CC:COR Abstract: This regulation will specify Agency Contact: Theresa M. Kolish, the disclosures that must be made to NPRM 10/18/02 67 FR 64331 Attorney–Advisor, Department of the participants in qualified pension plans Final Action 12/00/04 Treasury, Internal Revenue Service, to describe the relative value of the Regulatory Flexibility Analysis 1111 Constitution Avenue NW, available optional forms of benefit. Required: No Washington, DC 20224 Timetable: Small Entities Affected: No Phone: 202 622–7530 Action Date FR Cite Government Levels Affected: None Related RIN: Related to 1545–BA76 NPRM 10/07/02 67 FR 62417 Additional Information: REG-150313-01 RIN: 1545–BA73 Final Action 12/00/04 Regulatory Flexibility Analysis Drafting attorney: Aimee K. Meacham (202) 622-7530 2777. STATUTORY OPTIONS Required: No Reviewing attorney: Lewis K. Brickates Priority: Substantive, Nonsignificant Small Entities Affected: Businesses, Organizations (202) 622-7530 Legal Authority: 26 USC 421 Government Levels Affected: None Treasury attorney: Audrey Nacamuli CFR Citation: (202) 622-5721 26 CFR 1 Additional Information: REG-124667-02 CC:COR Legal Deadline: None Drafting attorney: John Ricotta (202) Agency Contact: Abstract: This regulation provides 622-6060 Aimee K. Meacham, rules for the creation, and or Attorney–Advisor, Department of the Reviewing attorney: Linda Marshall Treasury, Internal Revenue Service, maintenance, of a statutory stock option (202) 622-6090 plan. It includes rules on adopting a 1111 Constitution Avenue NW, plan, plan requirements, permissible Treasury attorney: Harlan Weller (202) Washington, DC 20224 provisions of a plan, and 622-1001 Phone: 202 622–7530 disqualification of a statutory option. CC:TEGE RIN: 1545–BA80
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TREAS—IRS Final Rule Stage
2780. PARTNERSHIP TRANSACTIONS Abstract: The regulation relates to Drafting attorney: Alexandra K. Helou INVOLVING LONG–TERM reporting requirements for widely held (202) 622-3840 CONTRACTS fixed investment trusts. Reviewing attorney: Valerie Mark Lippe Priority: Substantive, Nonsignificant Timetable: (202) 622-3840 Legal Authority: 26 USC 460 Action Date FR Cite Treasury attorney: Andrew Froberg CFR Citation: 26 CFR 1 NPRM 06/20/02 67 FR 41892 (202) 622-1779 Legal Deadline: None NPRM Comment 09/18/02 CC:INTL Period End Agency Contact: Alexandra K. Helou, Abstract: Currently, regulations under Final Action 07/00/04 section 460 divide the rules regarding Attorney–Advisor, Department of the a mid-contract change in taxpayers Regulatory Flexibility Analysis Treasury, Internal Revenue Service, engaged in completing long-term Required: No 1111 Constitution Avenue NW, contracts into two categories: Small Entities Affected: No Washington, DC 20224 constructive completion transactions Phone: 202 622–3840 Government Levels Affected: None and step-in-the-shoes transactions. The RIN: 1545–BA86 regulations provide that a transfer Additional Information: REG-106871-00 described in section 721(a) of a long- Drafting attorney: Faith Colson (202) term contract to a partnership and a 622-3060 2783. AGGREGATE COMPUTATION transfer of a partnership interest are AND ALLOCATION OF RESEARCH step-in-the-shoes transactions. These Reviewing attorney: J. Thomas Hines CREDIT (202) 622-3060 regulations will explain the tax Priority: Substantive, Nonsignificant consequences of contributions of long- Treasury attorney: Viva Hammer (202) term contracts to, transfers of interests 622-0869 Legal Authority: 26 USC 7805; 26 USC 41 in, and distributions from, partnerships CC:PSI holding long-term contracts. CFR Citation: 26 CFR 1 Agency Contact: Faith Colson, Timetable: Attorney–Advisor, Department of the Legal Deadline: None Action Date FR Cite Treasury, Internal Revenue Service, Abstract: This regulation will provide 1111 Constitution Avenue NW, NPRM 08/06/03 68 FR 46516 guidance on the proper method of Washington, DC 20224 Final Action 07/00/04 computing the research credit for a Phone: 202 622–3060 controlled group. In addition, this Regulatory Flexibility Analysis Related RIN: Related to 1545–AU15 regulation will provide guidance on the Required: No allocation of the research credit among RIN: 1545–BA83 Small Entities Affected: No members of a controlled group. Government Levels Affected: Timetable: Undetermined 2782. GUIDANCE ON REPORTING OF DEPOSIT INTEREST PAID TO Action Date FR Cite Additional Information: REG-128203-02 NONRESIDENT ALIENS NPRM 07/29/03 68 FR 44499 Drafting attorney: Richard T. Probst Priority: Substantive, Nonsignificant Final Action 12/00/04 (202) 622-3060 Legal Authority: 26 USC 7805 Regulatory Flexibility Analysis Reviewing attorney: Thomas Hines Required: No (202) 622-3060 CFR Citation: 26 CFR 1; 26 CFR 31 Small Entities Affected: No Treasury attorney: Deborah Harrington Legal Deadline: None Government Levels Affected: None (202) 622-1788 Abstract: This regulation will provide CC:PSI guidance on the reporting requirements Additional Information: REG-133791-01 Agency Contact: Richard T. Probst, for interest on deposits maintained at Drafting attorney: Jaime C. Park (202) Attorney–Advisor, Department of the U.S. offices of certain financial 622-3120 Treasury, Internal Revenue Service, institutions and paid to nonresident aliens that are residents of certain Reviewing attorney: Brenda M. Stewart 1111 Constitution Avenue NW, (202) 622-3120 Washington, DC 20224 specified countries. Phone: 202 622–3060 Timetable: Treasury attorney: Sharon Kay (202) 622-0865 RIN: 1545–BA81 Action Date FR Cite CC:PSI NPRM 08/02/02 67 FR 50386 2781. REPORTING REQUIREMENTS Hearing 12/05/02 67 FR 50386 Agency Contact: Jaime C. Park, FOR WIDELY HELD FIXED Final Action 12/00/04 Attorney, Department of the Treasury, INVESTMENT TRUSTS Internal Revenue Service, 1111 Regulatory Flexibility Analysis Constitution Ave NW, Washington, DC Priority: Substantive, Nonsignificant Required: No 20024 Legal Authority: 26 USC 7805 Small Entities Affected: No Phone: 202 622–3120 CFR Citation: 26 CFR 1 Government Levels Affected: None Related RIN: Related to 1545–AX05 Legal Deadline: None Additional Information: REG-133254-02 RIN: 1545–BA88
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TREAS—IRS Final Rule Stage
2784. DESIGNATED IRS OFFICER OR Regulatory Flexibility Analysis Phone: 202 622–3110 EMPLOYEE Required: No RIN: 1545–BB05 Priority: Substantive, Nonsignificant Small Entities Affected: No Legal Authority: 26 USC 7602 Government Levels Affected: None 2787. CAPITAL ACCOUNT BOOKUP CFR Citation: 26 CFR 1; 26 CFR 301 Additional Information: REG-138882-02 Priority: Substantive, Nonsignificant Legal Deadline: None Drafting attorney: Sara P. Shepherd Legal Authority: 26 USC 704; 26 USC Abstract: This regulatory amendment (202) 622-4960 7805 clarifies that chief counsel attorneys Reviewing attorney: J. Charles CFR Citation: 26 CFR 1 can receive the designated authority to Strickland (202) 622-4960 Legal Deadline: None take summoned testimony under oath. Treasury attorney: Eric San Juan (202) Abstract: Timetable: 622-0224 This regulation will expand the circumstances under which a Action Date FR Cite CC:ITA revaluation of partnership capital NPRM 09/10/02 67 FR 57354 Agency Contact: Sara P. Shepherd, accounts is permitted. Final Action 12/00/04 Attorney–Advisor, Department of the Timetable: Treasury, Internal Revenue Service, Regulatory Flexibility Analysis Action Date FR Cite Required: No 1111 Constitution Avenue NW, Washington, DC 20224 NPRM 07/02/03 68 FR 39498 Small Entities Affected: No Phone: 202 622–4960 Final Action 07/00/04 Government Levels Affected: None Related RIN: Related to 1545–BB02 Regulatory Flexibility Analysis Additional Information: REG-134026-02 RIN: 1545–BB01 Required: No Drafting attorney: Elizabeth D. Rawlins Small Entities Affected: No (202) 622-3600 2786. CHANGE IN USE; Government Levels Affected: None Reviewing attorney: Robert A. Miller ACCELERATED COST RECOVERY Additional Information: REG-139796-02 (202) 622-3600 SYSTEM Drafting attorney: Laura C. Nash (202) Treasury attorney: Julian Kim (202) Priority: Substantive, Nonsignificant 622-3050 622-1981 Legal Authority: 26 USC 168 Reviewing attorney: David Haglund CC:PA:CBS CFR Citation: 26 CFR 1 (202) 622-3050 Agency Contact: Elizabeth D. Rawlins, Legal Deadline: None Treasury attorney: Deborah Harrington Attorney–Advisor, Department of the (202) 622-1788 Treasury, Internal Revenue Service, Abstract: This regulation provides 1111 Constitution Avenue NW, guidance under section 168 regarding CC:PSI Washington, DC 20224 depreciation of property for which the Agency Contact: Laura C. Nash, Phone: 202 622–3600 use changes. Attorney–Advisor, Department of the Related RIN: Related to 1545–BA98 Timetable: Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, RIN: 1545–BA89 Action Date FR Cite Washington, DC 20224 NPRM 07/21/03 68 FR 43047 Phone: 202 622–3050 2785. REDUCED EXCLUSION OF GAIN Partially Withdrawn 03/01/04 69 FR 9561 RIN: 1545–BB10 FROM SALE OR EXCHANGE OF Final Action 07/00/04 PRINCIPAL RESIDENCE Regulatory Flexibility Analysis 2788. ALLOCATION OF FOREIGN TAX Required: No Priority: Substantive, Nonsignificant CREDITS AMONG PARTNERS Small Entities Affected: Businesses Legal Authority: 26 USC 121; 26 USC Priority: Substantive, Nonsignificant 7805 Government Levels Affected: None Unfunded Mandates: Undetermined CFR Citation: 26 CFR 1 Additional Information: REG-138499-02 Legal Authority: 26 USC 704(b); 26 Legal Deadline: None Drafting attorney: Sara L. Logan (202) USC 703(b)(3); 26 USC 702(a)(b) 622-3110 Abstract: This regulation provides CFR Citation: 26 CFR 1 guidance on when a taxpayer who has Reviewing attorney: Kathleen Reed Legal Deadline: not owned and used the property for (202) 622-3110 None two years or who has claimed the Abstract: Treasury attorney: George Manousos The regulation will provide exclusion within the last two years is (202) 622-1335 guidance on how foreign tax credits eligible to claim a reduced exclusion must be allocated to partners under under section 121(c). CC:PSI section 704(b). Timetable: Agency Contact: Sara L. Logan, Timetable: Attorney–Advisor, Department of the Action Date FR Cite Treasury, Internal Revenue Service, Action Date FR Cite NPRM 12/24/02 67 FR 78398 1111 Constitution Avenue NW, NPRM 04/21/04 69 FR 21454 Final Action 12/00/04 Washington, DC 20224 Final Action 12/00/04
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TREAS—IRS Final Rule Stage
Regulatory Flexibility Analysis Department of the Treasury, Internal Legal Authority: 26 USC 301 Required: No Revenue Service, 1111 Constitution CFR Citation: 26 CFR 301 Small Entities Affected: No Avenue NW, Washington, DC 20224 Phone: 202 622–7830 Legal Deadline: None Government Levels Affected: None RIN: 1545–BB12 Abstract: This regulation will amend Additional Information: REG-139792-02 existing regulations on testimony Drafting attorney: Beverly M. Katz (202) authorizations and requests for IRS 2790. EXCISE TAX RELATING TO information. 622-3050 STRUCTURED SETTLEMENT Reviewing attorney: Daniel Carmody FACTORING TRANSACTIONS Timetable: (202) 622-3050 Priority: Substantive, Nonsignificant Action Date FR Cite Treasury attorney: Deborah Harrington Legal Authority: 26 USC 115 NPRM 07/09/03 68 FR 40850 (202) 622-1788 Final Action 12/00/04 CFR Citation: 26 CFR 1; 26 CFR 602 CC:PSI Regulatory Flexibility Analysis Legal Deadline: None Agency Contact: Beverly M. Katz, Required: No Abstract: Attorney–Advisor, Department of the These regulations relate to Small Entities Affected: No section 5891 of the Internal Revenue Treasury, Internal Revenue Service, Government Levels Affected: None 1111 Constitution Avenue NW, Code. Section 5891 imposes a 40 Washington, DC 20224 percent excise tax upon any person Additional Information: REG-140930-02 Phone: 202 622–3050 who acquires certain payment rights in a structured settlement factoring Drafting attorney: Scott E. Powers (202) Related RIN: Related to 1545–BD11 transaction. The regulations provide 622-4580 RIN: 1545–BB11 guidance necessary to comply with the Reviewing attorney: David L. Fish (202) reporting requirements of the excise 622-4590 tax. 2789. DISTRIBUTIONS OF PROPERTY CC:PA:DPL Timetable: Priority: Substantive, Nonsignificant Agency Contact: Scott E. Powers, Action Date FR Cite Attorney, Department of the Treasury, Legal Authority: 26 USC 1023; 26 USC Internal Revenue Service, 1111 1024; 26 USC 2032 NPRM 02/19/03 68 FR 7956 Final Action 07/00/04 Constitution Ave NW, Washington, DC CFR Citation: 26 CFR 301; 26 CFR 20 20024 Regulatory Flexibility Analysis Phone: 202 622–4580 Legal Deadline: None Required: No RIN: 1545–BB15 Abstract: This regulation will clarify Small Entities Affected: No the language in regulations section Government Levels Affected: None 301.9100-6T to remove confusion as to 2792. INVESTIGATIVE DISCLOSURES whether relief for making an election Additional Information: REG-139768-02 Priority: Substantive, Nonsignificant under regulations section 2032 is Drafting attorney: Shareen S. Pflanz available under sections 301.9100-1 and (202) 622-4920 Legal Authority: 26 USC 6103(k)(6) 301-9100-3. Reviewing attorney: Charles Strickland CFR Citation: 26 CFR 301 Timetable: (202) 622-4960 Legal Deadline: None Action Date FR Cite Treasury attorney: John Parcell (202) Abstract: This regulation will amend NPRM 12/24/03 68 FR 74534 622-2578 existing regulations on disclosure of Public Hearing 04/19/04 69 FR 20840 CC:ITA return information by Internal Revenue Final Action 12/00/04 Officers and employees for investigative Agency Contact: Shareen S. Pflanz, purposes. Regulatory Flexibility Analysis Attorney–Advisor, Department of the Required: No Treasury, Internal Revenue Service, Timetable: Small Entities Affected: No 1111 Constitution Avenue NW, Action Date FR Cite Washington, DC 20224 Government Levels Affected: None Phone: 202 622–4920 NPRM 07/10/03 68 FR 41089 Final Action 12/00/04 Additional Information: REG-139845-02 Related RIN: Related to 1545–BB24 Regulatory Flexibility Analysis Drafting attorney: Theresa M. RIN: 1545–BB14 Required: Melchiorre (202) 622-7830 No Small Entities Affected: No Reviewing attorney: Katherine A. 2791. TESTIMONY AUTHORIZATIONS Government Levels Affected: Mellody (202) 622-7830 AND REQUESTS FOR IRS Federal Treasury attorney: Catherine Hughes INFORMATION Additional Information: REG-140808-02 (202) 622-9407 Priority: Substantive, Nonsignificant. Drafting attorney: Helene R. Newsome CC:PSI Major status under 5 USC 801 is (202) 622-4570 Agency Contact: Theresa M. undetermined. Reviewing attorney: Donald M. Squires Melchiorre, Attorney–Advisor, Unfunded Mandates: Undetermined (202) 622-4570
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TREAS—IRS Final Rule Stage
Treasury attorney: Eric San Juan (202) Legal Deadline: None Regulatory Flexibility Analysis 622-0224 Abstract: The regulation provides Required: No CC:PA:DPL authorization for Internal Revenue Small Entities Affected: No Agency Contact: Helene R. Newsome, Service to charge fees for copying Government Levels Affected: None exempt organization returns. Attorney–Advisor, Department of the Additional Information: REG-131478-02 Treasury, Internal Revenue Service, Timetable: Drafting attorney: Aimee K. Meacham 1111 Constitution Avenue NW, Action Date FR Cite Washington, DC 20224 (202) 622-7530 Phone: 202 622–4570 NPRM 07/09/03 68 FR 40849 Reviewing attorney: Sean P. Duffley Final Action 12/00/04 Related RIN: Related to 1545–BB17 (202) 622-7530 Regulatory Flexibility Analysis RIN: 1545–BB16 CC:COR Required: No Agency Contact: Aimee K. Meacham, Small Entities Affected: No 2793. TOLL TELEPHONE SERVICE— Attorney–Advisor, Department of the DEFINITION Government Levels Affected: None Treasury, Internal Revenue Service, Additional Information: REG-142538-02 1111 Constitution Avenue NW, Priority: Substantive, Nonsignificant Washington, DC 20224 Legal Authority: 26 USC 7805 Drafting attorney: Sarah Tate (202) 622- Phone: 202 622–7530 4590 CFR Citation: 26 CFR 49 Related RIN: Related to 1545–BB95 Reviewing attorney: Philip Lindenmuth Legal Deadline: None (202) 622-4560 RIN: 1545–BB25 Abstract: This regulation provides Treasury attorney: Eric San Juan (202) amendments to regulations relating to 622-0224 2796. EXTENSION OF TIME FOR the definition of toll telephone service. FILING RETURNS CC:PA:DPL Timetable: Priority: Agency Contact: Sarah Tate, Substantive, Nonsignificant Action Date FR Cite Attorney–Advisor, Department of the Legal Authority: 26 USC 6081 NPRM 04/01/03 68 FR 15690 Treasury, Internal Revenue Service, CFR Citation: 26 CFR 1; 26 CFR 25; Hearing 09/10/03 68 FR 35828 1111 Constitution Avenue NW, 26 CFR 31; 26 CFR 53; 26 CFR 55; 26 Final Action 12/00/04 Washington, DC 20224 CFR 156; . . . Phone: 202 622–4590 Regulatory Flexibility Analysis Legal Deadline: None Required: No Related RIN: Related to 1545–BB22 Abstract: This regulation will amend Small Entities Affected: No RIN: 1545–BB21 the section 6081 regulations to remove Government Levels Affected: the signature requirement for Form Undetermined 2795. DUPLICATIVE TAX BENEFITS 8809, Request for Extension of Time to File Information Returns. This will Additional Information: REG-141097-02 Priority: Substantive, Nonsignificant enable filers of information returns to Drafting attorney: Cynthia A. McGreevy Legal Authority: 26 USC 7805; 26 USC request an extension of time to file (202) 622-3130 1502 using an online version of the Form Reviewing attorneys: Frank Boland CFR Citation: 26 CFR 1 8809. (202) 622-3130 and Phillip Howard Legal Deadline: None Timetable: (202) 622-3000 Abstract: This regulation prevents a Action Date FR Cite Treasury attorney: John Parcell (202) consolidated group from deriving more 622-2578 NPRM 06/11/03 68 FR 34875 than one tax benefit from a single Final Action 12/00/04 CC:PSI economic loss. A loss on a consolidated Regulatory Flexibility Analysis return, with respect to the sale of a Agency Contact: Cynthia A. McGreevy, Required: Undetermined Attorney–Advisor, Department of the subsidiary’s stock, will be suspended to Treasury, Internal Revenue Service, the extent of duplication (i.e. the group Government Levels Affected: None 1111 Constitution Avenue NW, retains the loss asset) as long as the Additional Information: REG-107618-02 Washington, DC 20224 subsidiary remains a member of the Drafting attorney: Charles A. Hall (202) Phone: 202 622–3130 group. In addition, there is a basis leveling rule, which prevents groups 622-4940 RIN: 1545–BB18 from loading losses onto a single block Reviewing attorney: Judith Wall (202) of subsidiary stock and selling only that 622-4940 2794. AUTHORIZATION FOR IRS TO stock, while maintaining that Treasury attorney: John Parcell (202) CHARGE FEES FOR COPYING subsidiary as part of the group. 622-2578 EXEMPT ORGANIZATION RETURNS Timetable: CC:PA:APJ Priority: Substantive, Nonsignificant Action Date FR Cite Agency Contact: Charles A. Hall, Legal Authority: 26 USC 6104 NPRM 03/14/03 68 FR 12324 Senior Counsel, Department of the CFR Citation: 26 CFR 301 Final Action 12/00/04 Treasury, Internal Revenue Service,
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TREAS—IRS Final Rule Stage
1111 Constitution Avenue NW, regulations section 1.1502-32(b)(4), alternative computations or formulas Washington, DC 20224 where such election has become which, based on experience, accurately Phone: 202 622–4940 unnecessary as a result of regulations reflect the amount of income that will RIN: 1545–BB29 section 1.1502-20T(i)(2). not be collected by such taxpayer. The Timetable: proposed regulations will provide safe harbor methods (computations or 2797. TREATMENT OF SERVICES Action Date FR Cite formulas) of estimating such amounts UNDER SECTION 482 NPRM 05/07/03 68 FR 24404 that the taxpayerscan rely on. Priority: Substantive, Nonsignificant Final Action 12/00/04 Timetable: Legal Authority: 26 USC 7805; 26 USC Regulatory Flexibility Analysis Action Date FR Cite 482 Required: No NPRM 11/21/03 68 FR 65645 CFR Citation: 26 CFR 1 Small Entities Affected: No Final Action 07/00/04 Legal Deadline: None Government Levels Affected: None Regulatory Flexibility Analysis Abstract: Those final regulations Additional Information: REG-152524-02 Required: No amend the rules for allocation of Drafting attorney: Jeffrey B. Fienberg Small Entities Affected: Businesses income and deductions with respect to (202) 622-7700 Government Levels Affected: None serices between members of a group of controlled entities, pursuant to section Reviewing attorney: Alison G. Burns Additional Information: REG-141402-02 482. (202) 622-7550 Drafting attorney: Terrance McWhorter Timetable: Treasury attorney: Audrey Nacamuli (202) 622-4970 (202) 622-5721 Action Date FR Cite Reviewing attorney: Tom A. Luxner CC:COR (202) 622-4970 NPRM 09/10/03 68 FR 53448 CC:ITA Final Action 12/00/04 Agency Contact: Jeffrey B. Fienberg, Attorney–Advisor, Department of the We issued interim guidance in the form Regulatory Flexibility Analysis Treasury, Internal Revenue Service, of a Notice 2003-12, 2003-6 published Required: No 1111 Constitution Avenue NW, in the IRB 422 on January 22, 2003, Small Entities Affected: No Washington, DC 20224 with a request for comments. Government Levels Affected: None Phone: 202 622–7770 Agency Contact: Terrance McWhorter, Additional Information: REG-146893-02 Related RIN: Related to 1545–BB39 General Tax Attorney, Department of RIN: 1545–BB38 the Treasury, Internal Revenue Service, Drafting attorneys: Thomas A. Vidano 1111 Constitution Avenue NW, (202) 435-5265 and Helen Hong-George Washington, DC 20224 (202) 435-5220 2799. LIMITATION ON USE OF Phone: 202 622–4970 Reviewing attorneys: John M. Breen NONACCRUAL EXPERIENCE METHOD RIN: 1545–BB43 (202) 435-5265 OF ACCOUNTING Priority: Treasury attorney: Rocco Femia (202) Substantive, Nonsignificant 2800. ADVANCE RENTALS 622-1755 Legal Authority: 26 USC 403 Priority: Substantive, Nonsignificant CC:INTL CFR Citation: 26 CFR 1 Legal Authority: 26 USC 61(a)(5) Agency Contact: Thomas A. Vidano, Legal Deadline: None Attorney–Advisor, Department of the CFR Citation: 26 CFR 1 Treasury, Internal Revenue Service, Abstract: Under section 448(d)(5), as Legal Deadline: None amended by the Job Creation and 1111 Constitution Avenue NW, Abstract: The regulation will allow the Worker Assistance Act of 2002, the Washington, DC 20224 IRS Commissioner to change the rules nonaccrual experience method of Phone: 202 435–5265 for accounting for advance rental accounting is available only for RIN: 1545–BB31 income. This change is needed to amounts to be received for the accomplish an item on Treasury’s performance of qualified services (i.e., Guidance Priority List involving 2798. INVESTMENT ADJUSTMENT services in the fields of health, law, advance payments. Because the RULES AND WAIVER OF LOSS engineering, architecture, accounting, modification only provides for the CARRYOVERS FROM SRLY YEARS— actuarial science, performing arts, or Commissioner’s authority and does not AMENDED consulting) or for services provided by directly change a substantive rule, the certain small businesses (i.e., those Priority: Substantive, Nonsignificant regulation should have no loss or risk. with gross receipts of $5 million or Legal Authority: 26 USC 7805; 26 USC less). The law provides that such Timetable: 1502 taxpayers are not required to accrue, Action Date FR Cite CFR Citation: 26 CFR 1 based on their experience, any portion of year-end receivables that will not be NPRM 12/18/02 67 FR 77450 Legal Deadline: None collected. Under the proposed Final Action 07/00/04 Abstract: This regulation will allow a regulations, taxpayers will be permitted Regulatory Flexibility Analysis group to revoke an election under to determine such amounts using Required: No
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TREAS—IRS Final Rule Stage
Small Entities Affected: No Treasury, Internal Revenue Service, Timetable: Government Levels Affected: None 1111 Constitution Avenue NW, Action Date FR Cite Washington, DC 20224 Additional Information: REG-151043-02 Phone: 202 622–4930 NPRM 11/18/02 67 FR 69496 Final Action 12/00/04 Drafting attorney: Edwin B. Cleverdon RIN: 1545–BB47 (202) 622-7900 Regulatory Flexibility Analysis Reviewing attorney: Kim Koch (202) Required: No 622-5020 2802. SPECIAL DEPRECIATION ALLOWANCE Small Entities Affected: No CC:ITA Priority: Substantive, Nonsignificant Government Levels Affected: None Agency Contact: Edwin B. Cleverdon, Additional Information: REG-143321-02 Attorney–Advisor, Department of the Legal Authority: 26 USC 7805 Treasury, Internal Revenue Service, CFR Citation: 26 CFR 1 Drafting attorney: Nancy L. Rose (202) 622-4910 1111 Constitution Avenue NW, Legal Deadline: None Washington, DC 20224 Reviewing attorney: Pamela W. Fuller Phone: 202 622–7900 Abstract: This regulation provides (202) 622-4910 guidance under sections 168 and RIN: 1545–BB44 1400L(b) regarding special deprecations CC:PA:APJ allowance. Agency Contact: Nancy L. Rose, 2801. ADMINISTRATIVE Timetable: Attorney–Advisor, Department of the SIMPLIFICATION OF 481(A) Treasury, Internal Revenue Service, ADJUSTMENT PERIODS IN VARIOUS Action Date FR Cite 1111 Constitution Avenue NW, REGULATIONS NPRM 09/08/03 68 FR 53008 Washington, DC 20224 Priority: Substantive, Nonsignificant Final Action 12/00/04 Phone: 202 622–4910 Legal Authority: 26 USC 7805 Regulatory Flexibility Analysis Related RIN: Related to 1545–BB40 Required: No CFR Citation: 26 CFR 1 RIN: 1545–BB60 Small Entities Affected: No Legal Deadline: None Government Levels Affected: None Abstract: The purpose of this project 2804. USE OF GOVERNMENT is to harmonize various regulatory Additional Information: REG-157164-02 DEPOSITARIES IN CONNECTION provisions with current administrative WITH TAX UNDER THE FEDERAL Drafting attorney: Douglas Kim (202) UNEMPLOYMENT TAX ACT guidance regarding recovery periods for 622-3110 section 481(a) adjustments. When the Priority: Substantive, Nonsignificant Reviewing attorney: Kathleen Reed IRS changed the spread periods from Unfunded Mandates: Undetermined four years (positive and negative) to (202) 622-3110 four years (positive) and one year Treasury attorney: George Manuso (202) Legal Authority: 26 USC 7805; 26 USC (negative), it discovered that there were 622-1335 6302 some scattered regulatory provisions CC:PSI CFR Citation: 26 CFR 31 that contain different spread periods. Legal Deadline: None Those regulatory provisions that are Agency Contact: Douglas Kim, imposed as a matter of administrative Attorney–Advisor, Department of the Abstract: The proposed regulations discretion are under consideration to Treasury, Internal Revenue Service, will raise the amount of accumulated impose a standard spread period. 1111 Constitution Avenue NW, Federal Unemployment Tax Act for Washington, DC 20224 Timetable: taxes that a taxpayer may accumulate Phone: 202 622–3110 before being required to deposit. Action Date FR Cite Related RIN: Related to 1545–BC19 Timetable: NPRM 12/00/03 RIN: 1545–BB57 Action Date FR Cite Final Action 07/00/04 Regulatory Flexibility Analysis NPRM 07/17/03 68 FR 42329 2803. INFORMATION REPORTING Required: Final Action 12/00/04 No RELATING TO TAXABLE STOCK Regulatory Flexibility Analysis Small Entities Affected: No TRANSACTIONS Required: No Government Levels Affected: None Priority: Substantive, Nonsignificant Small Entities Affected: No Additional Information: REG-142605-02 Legal Authority: 26 USC 6043; 26 USC Government Levels Affected: Drafting attorney: Christian T. Wood 6045 Undetermined (202) 622-4930 CFR Citation: 26 CFR 1 Federalism: Undetermined Reviewing attorneys: Grant Anderson Legal Deadline: None (202) 622-4930 and Doug Fahey (202) Additional Information: REG-144908-02 622-4930 Abstract: These regulations under sections 6043(c) and 6045 require Drafting attorney: Heather L. Dostaler CC:ITA information reporting for corporate (202) 622-8445 Agency Contact: Christian T. Wood, acquisitions of control and changes in Reviewing attorney: Brinton T. Warren Attorney–Advisor, Department of the capital structure. (202) 622-7134
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TREAS—IRS Final Rule Stage
Treasury attorney: John Parcell (202) 2806. GUIDANCE ON LIFE Action Date FR Cite 622-2578 INSURANCE AND ANNUITY CONTRACTS Hearing 04/09/03 CC:PA:APJ Final Action 12/00/04 Priority: Substantive, Nonsignificant Agency Contact: Heather L. Dostaler, Regulatory Flexibility Analysis Attorney–Advisor, Department of the Legal Authority: 26 USC 7805; 26 USC Required: No 817 Treasury, Internal Revenue Service, Small Entities Affected: Businesses, 1111 Constitution Avenue NW, CFR Citation: 26 CFR 1 Organizations Washington, DC 20224 Legal Deadline: None Phone: 202 622–8445 Government Levels Affected: None Abstract: The regulation modifies the Additional Information: REG-164464-02 Related RIN: Related to 1545–BB67 existing section under 26 U.S.C. 817(h) Drafting attorney: Linda S.F. Marshall RIN: 1545–BB66 relating to guidance on life insurance and annuity contracts. (202) 622-6090 Timetable: Reviewing attorney: Marjorie Hoffman 2805. AVAILABILITY OF SECTION (202) 622-6090 338(H)(10) ELECTION IN MULTISTEP Action Date FR Cite TRANSACTIONS Treasury attorney: William Bortz (202) NPRM 07/30/03 68 FR 44689 622-1352 Final Action 09/00/04 Priority: Substantive, Nonsignificant CC:TEGE Regulatory Flexibility Analysis Legal Authority: 26 USC 7805; 26 USC Agency Contact: Required: No Linda S.F. Marshall, 338; 26 USC 368 Senior Counsel, Department of the Small Entities Affected: No CFR Citation: 26 CFR 1 Treasury, Internal Revenue Service, Government Levels Affected: None 1111 Constitution Avenue NW, Legal Deadline: None Washington, DC 20224 Additional Information: REG-163974-02 Abstract: This regulation concerns Phone: 202 622–6090 Drafting attorney: James Polfer (202) whether a section 338(h)(10) election Related RIN: Related to 1545–BA10 622-3970 should suspend application of the step RIN: 1545–BB79 transaction doctrine. Reviewing attorney: Donald Drees, Jr. (202) 622-3970 Timetable: CC:FI 2808. NOTIONAL PRINCIPAL Action Date FR Cite CONTRACTS; CONTINGENT Agency Contact: James Polfer, NONPERIODIC PAYMENTS NPRM 07/09/03 68 FR 40848 Attorney–Advisor, Department of the Final Action 12/00/04 Treasury, Internal Revenue Service, Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis 1111 Constitution Avenue NW, Legal Authority: 26 USC 446 Required: No Washington, DC 20224 CFR Citation: 26 CFR 1; 26 CFR 602 Phone: 202 622–3970 Small Entities Affected: No Legal Deadline: None RIN: 1545–BB77 Government Levels Affected: None Abstract: These proposed regulations relate to the character and the inclusion Additional Information: REG-143679-02 2807. APPLICATION OF into income and deduction of NONDISCRIMINATION Drafting attorneys: Daniel F. Heins and contingent nonperiodic payments made CROSS–TESTING RULES TO CASH Mary E. Goode (202) 622-7930 pursuant to a notional principal BALANCE PLANS contract. Reviewing attorney: Reginald Mombrun Priority: Substantive, Nonsignificant (202) 622-7930 Timetable: Legal Authority: 26 USC 7805; 26 USC Action Date FR Cite CC:COR 411 NPRM 02/26/04 69 FR 8886 Agency Contact: Daniel F. Heins, CFR Citation: 26 CFR 1 Final Action 12/00/04 Attorney–Advisor, Department of the Legal Deadline: None Treasury, Internal Revenue Service, Regulatory Flexibility Analysis 1111 Constitution Avenue NW, Abstract: These regulations will Required: No Washington, DC 20224 provide rules for the application of Government Levels Affected: None certain nondiscrimination Phone: 202 622–7930 Additional Information: requirements, prohibiting REG-166012-02 Mary E. Goode, Attorney–Advisor, discrimination in favor of highly Drafting attorney: Kathleen Sleeth (202) Department of the Treasury, Internal compensated employees, to cash 622-3920 Revenue Service, 1111 Constitution balance pension plans. Reviewing attorney: Elizabeth Handler Avenue NW, Washington, DC 20224 Timetable: (202) 622-3920 Phone: 202 622–7930 Action Date FR Cite Treasury attorney: Viva Hammer (202) Related RIN: Related to 1545–BB78 622-0869 NPRM 12/11/02 67 FR RIN: 1545–BB68 761213 CC:FI
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TREAS—IRS Final Rule Stage
Agency Contact: Kathleen Sleeth, CFR Citation: 26 CFR 1 Small Entities Affected: No Attorney–Advisor, Department of the Legal Deadline: None Government Levels Affected: None Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Abstract: This regulation will amend Additional Information: REG-116914-03 regulations section 1.45D-1T involving Washington, DC 20224 Drafting attorney: Stephen B. Tackney Phone: 202 622–3920 the new markets tax credit under section 45D. The amendments will (202) 622-6040 RIN: 1545–BB82 address certain issues involving Reviewing attorney: Robert Misner qualified low-income community (202) 622-6030 2809. REDUCTION OF TAX investments under section 45D(d)(1). Treasury attorney: William Bortz (202) ATTRIBUTES DUE TO DISCHARGE OF Timetable: 622-1352 INDEBTEDNESS INCOME Action Date FR Cite CC:TEGE Priority: Routine and Frequent NPRM 03/11/04 69 FR 11561 Legal Authority: 26 USC 7805 Agency Contact: Stephen B. Tackney, Public Hearing 06/02/04 Attorney–Advisor, Department of the CFR Citation: 26 CFR 1 Final Action 12/00/04 Treasury, Internal Revenue Service, Legal Deadline: None Regulatory Flexibility Analysis 1111 Constitution Avenue NW, Required: No Washington, DC 20224 Abstract: The regulations clarify that if Phone: 202 622–6030 a taxpayer realizes, but excludes, COD Small Entities Affected: No income either during or after the Government Levels Affected: RIN: 1545–BC06 taxable year for which the taxpayer is Undetermined the distributor or transferor of assets for 2812. NOTARIZATION REQUIREMENT a transaction described in section Additional Information: REG-115471-03 FOR STATEMENTS OF PURCHASE 381(a), those tax attributes to which the Drafting attorney: Paul F. Handleman acquiring corporation succeeds, (202) 622-3040 Priority: Substantive, Nonsignificant including basis of property, must reflect Reviewing attorney: Susan Reaman Legal Authority: 26 USC 1042(a)(1); 26 the reductions required by section (202) 622-3040 USC 7805 108(b). Treasury attorney: Steve Watson (202) CFR Citation: 26 CFR 1 Timetable: 622-1322 Legal Deadline: None Action Date FR Cite CC:PSI Abstract: The regulations would NPRM 07/18/03 68 FR 42652 Agency Contact: Paul F. Handleman, Final Action 07/00/04 modify the requirement that statements Attorney–Advisor, Department of the of purchase of qualified replacement Regulatory Flexibility Analysis Treasury, Internal Revenue Service, property be notarized within 30 days Required: No 1111 Constitution Avenue NW, of purchase. Small Entities Affected: No Washington, DC 20224 Phone: 202 622–3040 Timetable: Government Levels Affected: None Related RIN: Related to 1545–BC02 Action Date FR Cite Additional Information: REG-113112-03 RIN: 1545–BC03 NPRM 07/10/03 68 FR 41087 Drafting attorney: Theresa M. Kolish Comment Period End 10/08/03 (202) 622-7530 Final Action 12/00/04 2811. TRANSFERS OF Reviewing attorney: Steve Hankin (202) NONSTATUTORY STOCK OPTIONS Regulatory Flexibility Analysis 622-7530 TO RELATED PERSONS Required: No Treasury attorney: Audrey Nacamuli Priority: Substantive, Nonsignificant Small Entities Affected: No (202) 622-5721 Legal Authority: 26 USC 83 Government Levels Affected: None CC:COR CFR Citation: 26 CFR 1 Additional Information: REG-121122-03 Agency Contact: Theresa M. Kolish, Attorney–Advisor, Department of the Legal Deadline: None Drafting attorney: John T. Ricotta (202) Treasury, Internal Revenue Service, Abstract: The regulations will provide 622-6060 1111 Constitution Avenue NW, rules for determining when the transfer Reviewing attorney: Robert Patchell Washington, DC 20224 of a nonstatutory stock option will be (202) 622-6060 Phone: 202 622–7530 considered an arm’s length transaction CC:TEGE RIN: 1545–BB98 for purposes of section 1.83-7(a). Timetable: Agency Contact: John T. Ricotta, Attorney–Advisor, Department of the 2810. NEW MARKETS TAX CREDIT Action Date FR Cite Treasury, Internal Revenue Service, AMENDMENTS NPRM 07/02/03 68 FR 39498 1111 Constitution Avenue NW, Priority: Substantive, Nonsignificant Final Action 07/00/04 Washington, DC 20224 Phone: 202 622–6060 Legal Authority: 26 USC 45D; 26 USC Regulatory Flexibility Analysis 7805 Required: No RIN: 1545–BC11
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TREAS—IRS Final Rule Stage
2813. GUIDANCE NECESSARY TO Timetable: Agency Contact: Sara L. Logan, FACILITATE BUSINESS ELECTRONIC Action Date FR Cite Attorney–Advisor, Department of the FILING Treasury, Internal Revenue Service, NPRM 02/01/99 64 FR 4801 Priority: Substantive, Nonsignificant 1111 Constitution Avenue NW, Final Action 12/00/04 Washington, DC 20224 Legal Authority: 26 USC 7805 Regulatory Flexibility Analysis Phone: 202 622–3110 CFR Citation: 26 CFR 1; 26 CFR 602 Required: No Related RIN: Related to 1545–BC17 Legal Deadline: None Small Entities Affected: No RIN: 1545–BC18 Abstract: The regulatory amendments Government Levels Affected: None are designed to facilitate electronic Additional Information: REG-103422-03 filing of certain income tax returns and 2816. SECTION 411(D)(6) PROTECTED other forms. Drafting attorney: Richard Shevak (202) BENEFITS Timetable: 622-8142 Priority: Substantive, Nonsignificant Action Date FR Cite Reviewing attorney: Jeff Mitchell (202) 622-7934 Legal Authority: 26 USC 7805; 26 USC NPRM 12/19/03 68 FR 70747 4980 Final Action 12/00/04 Treasury attorney: Deborah Harrington Regulatory Flexibility Analysis (202) 622-1788 CFR Citation: 26 CFR 1; 26 CFR 54 Required: No CC:ITA:7 Legal Deadline: None Small Entities Affected: No Agency Contact: Richard Shevak, Abstract: These regulations will Government Levels Affected: Federal Attorney–Advisor, Department of the Treasury, Internal Revenue Service, provide guidance relating to section Additional Information: REG-116664-01 1111 Constitution Avenue NW, 411(d)(6) of the Code regarding the Drafting attorney: Nathan B. Rosen Washington, DC 20224 elimination or reduction of certain (202) 622-4910 Phone: 202 622–8142 early retirement benefits, retirement- type subsidies, and optional forms of Reviewing attorney: Pamela Fuller (202) Related RIN: Related to 1545–AR82 benefit (section 411(d)(6)(B) protected 622-4910 RIN: 1545–BC16 benefits), and will address both: 1) Treasury attorney: John Parcell (202) when these benefits result in significant 622-2578 burdens and complexities for plans and 2815. CHANGES IN COMPUTING its participants; and 2) when such CC:PA:APJ DEPRECIATION benefits are of de minimis value to Agency Contact: Nathan B. Rosen, Priority: Substantive, Nonsignificant participants. Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Legal Authority: 26 USC 7805 Timetable: 1111 Constitution Avenue NW, CFR Citation: 26 CFR 1 Washington, DC 20224 Action Date FR Cite Phone: 202 622–4910 Legal Deadline: None NPRM 06/24/04 69 FR 13769 RIN: 1545–BC15 Abstract: This regulation provides Final Action 12/00/04 guidance under section 446(e) regarding Regulatory Flexibility Analysis changes in computing depreciation or Required: No 2814. CONTINGENT AT CLOSING amortization. ESCROWS Timetable: Small Entities Affected: No Priority: Substantive, Nonsignificant Action Date FR Cite Government Levels Affected: None Legal Authority: 26 USC 7805; 26 USC 468 NPRM 01/02/04 69 FR 42 Additional Information: REG-128309-03 Final Action 12/00/04 CFR Citation: 26 CFR 1; 26 CFR 602 Regulatory Flexibility Analysis Drafting attorney: Pamela R. Kinard Legal Deadline: None (202) 622-6060 Required: No Abstract: The regulations will provide Small Entities Affected: No Reviewing attorney: Linda S. Marshall rules for taxing the income of a (202) 622-6090 contingent at closing escrow. A Government Levels Affected: contingent at closing escrow is, Undetermined Treasury attorney: William Bortz generally, established in connection Additional Information: REG-126459-03 with the sale or exchange of real or CC:TEGE Drafting attorney: Sara L. Logan (202) personal property to hold assets that Agency Contact: Pamela R. Kinard, 622-3110 will be distributable to the purchaser Attorney–Advisor, Department of the or seller based on the post-closing Reviewing attorney: Kathleen Reed Treasury, Internal Revenue Service, resolution of bona fide contingencies. (202) 622-3110 1111 Constitution Avenue NW, The rules will require the purchaser or Treasury attorney: George Manousos Washington, DC 20224 seller to take into account all items of Phone: 202 622–6060 income and deduction for Federal (202) 622-1335 income tax purposes. CC:PSI RIN: 1545–BC26
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TREAS—IRS Final Rule Stage
2817. PRESERVATION OF STOCK Action Date FR Cite Treasury, Internal Revenue Service, BASIS 1111 Constitution Avenue NW., Comment Period End 10/20/03 Washington, DC 20224 Priority: Substantive, Nonsignificant. Final Action 12/00/04 Major status under 5 USC 801 is Phone: 202 622–6060 undetermined. Regulatory Flexibility Analysis RIN: 1545–BC35 Required: No Legal Authority: 26 USC 1502 Small Entities Affected: No CFR Citation: 26 CFR 1 2820. DEPRECIATION OF VANS AND Government Levels Affected: None LIGHT TRUCKS Legal Deadline: None Additional Information: REG-129709-03 Priority: Substantive, Nonsignificant. Abstract: This regulation governs the Major status under 5 USC 801 is determination of stock basis of the Drafting attorney: John T. Ricotta (202) undetermined. former common parent following a 622-6060 group structure change. Reviewing attorney: Marjorie Hoffman Legal Authority: 26 USC 7805 Timetable: (202) 622-6060 CFR Citation: 26 CFR 1 CC:TEGE Action Date FR Cite Legal Deadline: None Agency Contact: John T. Ricotta, Abstract: The regulations will provide NPRM 07/08/03 68 FR 40579 Attorney–Advisor, Department of the guidance defining a specific class of Final Action 07/00/04 Treasury, Internal Revenue Service, vans and light trucks as exempt from Regulatory Flexibility Analysis 1111 Constitution Avenue NW, the depreciation limitations imposed on Required: No Washington, DC 20224 passenger automobiles under section Phone: 202 622–6060 Small Entities Affected: No 280F. Related RIN: Related to 1545–BC33 Government Levels Affected: None Timetable: RIN: 1545–BC34 Additional Information: REG-130262-03 Action Date FR Cite Drafting attorney: Ross E. Poulsen (202) NPRM 07/07/03 68 FR 40224 622-7770 2819. ELIMINATION OF FORMS OF DISTRIBUTION IN DEFINED Final Action 07/00/04 Reviewing attorney: Marlene CONTRIBUTION PLANS Regulatory Flexibility Analysis Oppenheim (202) 622-7770 Required: Priority: Substantive, Nonsignificant. No Treasury attorney: Audrey Nacamuli Major status under 5 USC 801 is Small Entities Affected: No (202) 622-5721 undetermined. Government Levels Affected: None CC:COR Legal Authority: 26 USC 411(d)(b)(E) Additional Information: REG-138495-02 Agency Contact: Ross E. Poulsen, CFR Citation: 26 CFR 1 Attorney–Advisor, Department of the Drafting attorney: Bernard P. Harvey, III Treasury, Internal Revenue Service, Legal Deadline: None (202) 622-3110 1111 Constitution Avenue NW, Abstract: These regulations will amend Reviewing attorney: Charles Ramsey Washington, DC 20224 the section 411(d)(b) regulations to (202) 622-3110 Phone: 202 622–7770 conform to the amendments made by Treasury attorney: John Parcell (202) RIN: 1545–BC28 EGTRRA, in accordance with section 411(d)(b)(E), relating to the elimination 622-2578 of forms of distribution in defined CC:PSI 2818. PROHIBITED ALLOCATION OF contribution plans. Agency Contact: Bernard P. Harvey III, SECURITIES IN AN S CORPORATION Timetable: Attorney–Advisor, Department of the Priority: Substantive, Nonsignificant. Action Date FR Cite Treasury, Internal Revenue Service, Major status under 5 USC 801 is 1111 Constitution Avenue NW., undetermined. NPRM 07/08/03 68 FR 40581 Washington, DC 20224 Final Action 07/00/04 Legal Authority: 26 USC 7805; 26 USC Phone: 202 622–3110 409(p)(7)(A) Regulatory Flexibility Analysis RIN: 1545–BC36 Required: No CFR Citation: 26 CFR 1 Small Entities Affected: No Legal Deadline: None 2821. GUIDANCE UNDER SECTION Government Levels Affected: None Abstract: The regulation will provide 1502; APPLICATION OF SECTION 108 guidance for employee stock ownership Additional Information: REG-112039-03 TO MEMBERS OF A CONSOLIDATED GROUP plans holding stock of a subchapter S Drafting attorney: Vernon S. Carter corporation concerning the prohibition (202) 622-6060 Priority: Substantive, Nonsignificant. against allocations to disqualified Major status under 5 USC 801 is Treasury attorney: William Bortz (202) persons under section 409(p). undetermined. 622-1352 Timetable: Legal Authority: 26 USC 1502 CC:TEGE Action Date FR Cite Agency Contact: Vernon S. Carter, Tax CFR Citation: 26 CFR 1 NPRM 07/21/03 68 FR 43058 Law Specialist, Department of the Legal Deadline: None
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TREAS—IRS Final Rule Stage
Abstract: The regulations under section Timetable: Treasury attorney: Eric San Juan (202) 1502 of the Internal Revenue Code Action Date FR Cite 622-0224 provide guidance concerning the CC:PA:APJ application of certain provisions of NPRM 07/21/03 68 FR 43059 section 108 to members of a Final Action 12/00/04 Agency Contact: Tracey B. Leibowitz, Attorney–Advisor, Department of the consolidated group. Regulatory Flexibility Analysis Treasury, Internal Revenue Service, Required: Timetable: No 1111 Constitution Avenue NW, Action Date FR Cite Small Entities Affected: No Washington, DC 20224 Phone: 202 622–4940 NPRM 12/11/03 68 FR 69062 Government Levels Affected: None Related RIN: Related to 1545–BC45 Final Action 12/00/04 Additional Information: REG-132483-03 RIN: 1545–BC46 Regulatory Flexibility Analysis Drafting attorney: Gary W. Bornholdt Required: No (202) 622-7870 2824. GUIDANCE ON PFIC PURGING Reviewing attorney: Bruce Serchuk Small Entities Affected: No ELECTIONS (202) 622-1766 Government Levels Affected: None Priority: Substantive, Nonsignificant. CC:TEGE Major status under 5 USC 801 is Additional Information: REG-132760-03 Agency Contact: Gary W. Bornholdt, undetermined. Drafting attorney: Amber R. Cook (202) Attorney–Advisor, Department of the Legal Authority: 26 USC 7805 622-7530 Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, CFR Citation: 26 CFR 1 Reviewing attorney: Marie Milnes- Washington, DC 20224 Legal Deadline: None Vasquez (202) 622-7530 Phone: 202 622–7870 Abstract: These final regulations will Treasury attorney: Audrey Nacamuli RIN: 1545–BC40 provide guidance to taxpayers on (202) 622-5721 making timely deemed sale and deemed dividend elections under CC:COR 2823. SUBSTITUTE FOR RETURN sections 1298(b)(1) and 1291. (SFR) AND AUTOMATED SUBSTITUTE Agency Contact: Amber R. Cook, FOR RETURN (ASFR) (TEMPORARY) Timetable: Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Priority: Substantive, Nonsignificant. Action Date FR Cite 1111 Constitution Avenue NW, Major status under 5 USC 801 is Final Action 12/00/04 undetermined. Washington, DC 20224 Regulatory Flexibility Analysis Phone: 202 622–7530 Legal Authority: 26 USC 7805; 26 USC Required: No 6020 Related RIN: Related to 1545–BC39 Small Entities Affected: No CFR Citation: 26 CFR 301 RIN: 1545–BC38 Government Levels Affected: None Legal Deadline: None Additional Information: REG-120657-04 2822. REMEDIAL ACTIONS FOR TAX Abstract: The temporary regulation Drafting attorney: Alexandra K. Helou EXEMPT BONDS serves to be the Service’s expression of (202) 622-3840 intent that certain documents generated Priority: Substantive, Nonsignificant. in the substitute for return (SFR) and Reviewing attorney: Valerie A. Mark Major status under 5 USC 801 is Automated Substitute for Return Lippe (202) 622-3840 undetermined. (ASFR) process constitute section Treasury attorney: Michael Caballero (202) 622-0857 Legal Authority: 26 USC 141; 26 USC 6020(b) returns for purposes of 142 assessing the section 6651(a)(2) CC:INTL addition to tax. CFR Citation: 26 CFR 1 Agency Contact: Alexandra K. Helou, Timetable: Attorney–Advisor, Department of the Legal Deadline: None Action Date FR Cite Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Abstract: The regulations amend final Temporary 12/00/04 Washington, DC 20224 regulations under sections 1.141-12 and Regulations Phone: 202 622–3840 1.141-2 that provide certain permitting Regulatory Flexibility Analysis RIN: 1545–BC49 remedial actions for tax exempt bonds Required: Undetermined issued by State and local governments Government Levels Affected: and make related amendments to 2825. SUSPENSION OF RUNNING OF Undetermined sections 1.141-15 and 1.141-16. This PERIOD OF LIMITATION DURING A regulation revises the definition of the Additional Information: REG-131739-03 PROCEEDING TO ENFORCE OR amount of nonqualified bonds under Drafting attorney: Tracey B. Leibowitz QUASH A DESIGNATED OR RELATED section 1.141-12 and amends the SUMMONS provision of sections 1.141-12 and (202) 622-4940 1.141-2 relating to allocations of Reviewing attorney: Ashton Trice (202) Priority: Substantive, Nonsignificant nonqualified bonds. 622-4940 Legal Authority: 25 USC 6503
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TREAS—IRS Final Rule Stage
CFR Citation: 26 CFR 1; 26 CFR 301 Small Entities Affected: No Phone: 202 622–7530 Legal Deadline: None Government Levels Affected: None Related RIN: Related to 1545–BC96 Abstract: These regulations relate to Additional Information: REG-153319-03 RIN: 1545–BC95 the use of designated and related summonses and the effect on the period Drafting attorney: Amber R. Cook (202) of limitations on assessment when a 622-7530 2828. • ELECTRONIC FILING OF case is brought with respect to a CC:COR DUPLICATE FORMS 5472 designated or related summons. Agency Contact: Amber R. Cook, Priority: Substantive, Nonsignificant Timetable: Attorney–Advisor, Department of the Legal Authority: 26 USC 7805 Action Date FR Cite Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, CFR Citation: 26 CFR 1 NPRM 07/31/03 68 FR 44905 Washington, DC 20224 Legal Deadline: None Final Action 12/00/04 Phone: 202 622–7530 Regulatory Flexibility Analysis Related RIN: Related to 1545–BC38, Abstract: These regulations will Required: No Related to 1545–BC39 provide guidance on how the Small Entities Affected: No requirement to file a duplicate Form RIN: 1545–BC74 5472 with the Internal Revenue Service Government Levels Affected: None Center in Philadelphia applies in the Additional Information: REG-208199-91 2827. • GUIDANCE UNDER SECTION context of electronic filing. Drafting attorney: Elizabeth D. Rawlins 1502; COMPUTATION OF TAXABLE Timetable: (202) 622-3600 INCOME WHEN SECTION 108 Action Date FR Cite Reviewing attorney: Robert A. Miller APPLIES TO A MEMBER OF A (202) 622-3600 CONSOLIDATED GROUP NPRM 02/09/04 69 FR 5940 Priority: Substantive, Nonsignificant Hearing 05/27/04 Treasury attorney: Julian Kim (202) Final Action 09/00/04 622-1981 Legal Authority: 26 USC 1502 CC:PA:CBS Regulatory Flexibility Analysis CFR Citation: 26 CFR 1 Required: No Agency Contact: Elizabeth D. Rawlins, Legal Deadline: None Attorney–Advisor, Department of the Small Entities Affected: No Abstract: Treasury, Internal Revenue Service, The regulations provide Government Levels Affected: None 1111 Constitution Avenue NW, guidance to prevent circular bases Washington, DC 20224 computations resulting from the Additional Information: REG-167217-03 Phone: 202 622–3600 application of sections 108(b) and Drafting attorney: Edward R. Barret RIN: 1545–BC55 1.1502-28T, and guidance regarding (202) 435-5265 recapture under section 1245 following application of the look-through rules of Reviewing attorney: Elizabeth G. Beck 2826. GUIDANCE UNDER SECTION section 1017(d) and section 1.1502-28T. (202) 435-5265 1502; APPLICATION OF SECTION 108 Timetable: Treasury attorney: Andrew Froberg TO MEMBERS OF A CONSOLIDATED GROUP Action Date FR Cite (202) 622-1779 Priority: Substantive, Nonsignificant NPRM 03/15/04 69 FR 12091 Agency Contact: Edward R. Barret, Final Action 12/00/04 Attorney–Advisor, Department of the Legal Authority: 26 USC 1502 Treasury, Internal Revenue Service, CFR Citation: 26 CFR 1 Regulatory Flexibility Analysis 1111 Constitution Avenue NW, Required: No Legal Deadline: None Washington, DC 20224 Small Entities Affected: No Phone: 202 435–5265 Abstract: These regulations amend REG-132760-03 published in the Government Levels Affected: None Related RIN: Related to 1545–BD02 Federal Register on September 4, 2003 Additional Information: REG-167265-03 RIN: 1545–BD03 (68 FR 52542), and TD 9089 also published in the Federal Register on Drafting attorney: Candace B. Ewell September 4, 2003 (68 FR 52487). (202) 622-7530 2829. • SOLID WASTE DISPOSAL Those regulations provided guidance Reviewing attorney: Marie Milnes- FACILITIES concerning the application of section Vasquez (202) 622-7530 Priority: Substantive, Nonsignificant 108 to members of a consolidated group. Treasury attorney: Audrey Nacamuli Legal Authority: 26 USC 142 (202) 622-5721 Timetable: CFR Citation: 26 CFR 1 CC:COR Action Date FR Cite Legal Deadline: None Agency Contact: Candace B. Ewell, NPRM 12/03/03 68 FR 69062 Attorney–Advisor, Department of the Abstract: This regulation will modify Final Action 12/00/04 Treasury, Internal Revenue Service, the definition of solid waste disposal Regulatory Flexibility Analysis 1111 Constitution Avenue NW, facility for purposes of section 142(a)(6) Required: No Washington, DC 20224 of the Internal Revenue Code.
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TREAS—IRS Final Rule Stage
Timetable: Service, 1111 Constitution Avenue NW, regulations for clarification and the Action Date FR Cite Washington, DC 20224 regulations for section 7654 (1986) will Phone: 202 622–3860 be new. Internal Revenue Code (IRC) NPRM 05/10/04 69 FR 25856 RIN: 1545–BD06 section 7654 contains the provisions for Final Action 12/00/04 cover-over to the U.S. Possessions. Old Regulatory Flexibility Analysis section 7654 (1954 Code) continues to Required: No 2831. • TRANSITIONAL RULE FOR be applicable to Guam and the VESTED ACCRUED VACATION PAY Commonwealth of the Northern Small Entities Affected: No Priority: Info./Admin./Other Mariana Islands (CNMI) because these Government Levels Affected: Local, two possessions do not have an Legal Authority: State 26 USC 7805 effective implementing agreement with Additional Information: REG-140492-02 CFR Citation: 26 CFR 1 the United States as required bythe Tax Legal Deadline: None Reform Act of 1986. Regulations are Drafting attorney: Michael P. Brewer necessary for consistent and correct Abstract: (202) 622-3980 This final regulation removes application of section 7654. For Reviewing attorney: Timothy Jones temporary regulation section 1.463-1T example, cover-over for (Armed Forces) (202) 622-3980 providing a transitional time and residents of the possessions stationed manner rule for an election under CC:TEGE outside the possessions are not section 463 of the Internal Revenue specifically addressed in the 1954 Agency Contact: Michael P. Brewer, Code, relating to the accrual of vacation Code, and neither is cover-over for Attorney–Advisor, Department of the pay for the first taxable year ending Federal employees residing in U.S. Treasury, Internal Revenue Service, after July 18, 1984. Section 463 of the Possessions. Temporary Regulations are 1111 Constitution Avenue NW., Code was repealed in 1987 and is no needed to carry out the provisions of Washington, DC 20224 longer operative. Therefore, the section 7654 and sections 931, 932, and Phone: 202 622–3980 temporary regulation promulgated 935. thereunder has become obsolete. RIN: 1545–BD04 Timetable: Timetable: Action Date FR Cite 2830. • TREATMENT OF FOREIGN Action Date FR Cite Temporary Regulation 12/00/04 STAPLED CORPORATION Final Action 07/00/04 (TEMPORARY) Regulatory Flexibility Analysis Regulatory Flexibility Analysis Required: No Priority: Substantive, Nonsignificant Required: No Small Entities Affected: No Legal Authority: 26 USC 7805; 26 USC Small Entities Affected: No Government Levels Affected: None 269B Government Levels Affected: None Additional Information: REG-139900-03 CFR Citation: 26 CFR 1 Additional Information: REG-112293-03 Legal Deadline: None Drafting attorney: Mae J. Lew (202) 435- Drafting attorney: Jamie J. Kim (202) 5262 Abstract: This project will provide 622-4950 regulatory guidance to implement Reviewing attorney: Ricardo A. Cadenas Reviewing attorney: Christopher F. (202) 435-5262 Notice 2003-50. Kane (202) 622-4950 Timetable: Treasury attorney: Carl Dubert (202) CC: ITA 622-1765 Action Date FR Cite Agency Contact: Jamie J. Kim, CC:INTL Temporary Regulation 07/00/04 Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Agency Contact: Mae J. Lew, Regulatory Flexibility Analysis 1111 Constitution Avenue NW, Attorney–Advisor, Department of the Required: No Washington, DC 20224 Treasury, Internal Revenue Service, Government Levels Affected: Phone: 202 622–4950 1111 Constitution Avenue NW, Undetermined Fax: 2026224579 Washington, DC 20224 Phone: 202 435–5262 Federalism: Undetermined RIN: 1545–BD12 Related RIN: Related to 1545–BC54 Additional Information: REG-101282-04 RIN: 1545–BD32 Drafting attorney: Richard L. Osborne 2832. • COORDINATION OF UNITED (202) 622-3860 STATES AND CERTAIN POSSESSIONS INCOME TAXES 2833. • GUIDANCE ON PFIC PURGING Reviewing attorney: Robert W. Lorence (TEMPORARY) ELECTIONS (TEMPORARY) (202) 622-3860 Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant Treasury attorney: Michael Cabellero (202) 622-0851 Legal Authority: 26 USC 7805 Legal Authority: 26 USC 7805 CC:INTL CFR Citation: 26 CFR 1; 26 CFR 301 CFR Citation: 26 CFR 1 Agency Contact: Richard L. Osborne, Legal Deadline: None Legal Deadline: None Assistant to Branch Chief, Department Abstract: The regulations for section Abstract: These temporary regulations of the Treasury, Internal Revenue 7654 (1954 Code) will revise existing will provide guidance regarding
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TREAS—IRS Final Rule Stage
retroactive relief for taxpayers who, in CC:INTL Regulatory Flexibility Analysis limited circumstances, continue to be Agency Contact: Alexandra K. Helou, Required: No subject to the PFIC excess distribution Attorney–Advisor, Department of the Small Entities Affected: No regime of section 1291 although the Treasury, Internal Revenue Service, foreign corporation in which they own 1111 Constitution Avenue NW, Government Levels Affected: None stock is no longer treated as a PFIC Washington, DC 20224 Additional Information: REG-124872-04 under section 1298 or section 1297(e). Phone: 202 622–3840 Timetable: RIN: 1545–BD33 Drafting attorney: Thomas D. Beem (202) 622-3860 Action Date FR Cite Temporary Regulation 12/00/04 2834. • CLARIFICATION OF Reviewing attorney: Charles P. Besecky (202) 622-3860 Regulatory Flexibility Analysis DEFINITIONS (TEMPORARY) Required: No Priority: Substantive, Nonsignificant Treasury attorney: Carl Dubert (202) 622-0222 Small Entities Affected: No Legal Authority: 26 USC 7805 CC:INTL Government Levels Affected: None CFR Citation: 26 CFR 301 Additional Information: REG-133446-03 Legal Deadline: None Agency Contact: Thomas D. Beem, Abstract: These temporary regulations Attorney–Advisor, Department of the Drafting attorney: Alexandra K. Helou Treasury, Internal Revenue Service, (202) 622-3840 will address the treatment of corporate continuances under section 7701. 1111 Constitution Avenue NW, 1111 Reviewing attorney: Valerie A. Mark Constitution Avenue NW, Washington, Timetable: Lippe (202) 622-3840 DC 20224 Phone: 202 622–3860 Treasury attorney: Michael Caballero Action Date FR Cite (202) 622-0851 Temporary Regulation 06/00/04 RIN: 1545–BD43
Department of the Treasury (TREAS) Long-Term Actions Internal Revenue Service (IRS)
2835. INCOME TAX—TAXPAYER’S Timetable: Phone: 202 435–5160 OBLIGATION TO FILE A NOTICE OF Action Date FR Cite RIN: REDETERMINATION OF FOREIGN TAX 1545–AI16 AND CIVIL PENALTIES FOR FAILURE NPRM 01/21/86 51 FR 2726 TO FILE Next Action Undetermined 2838. INFORMATION FROM Regulatory Flexibility Analysis PASSPORT AND IMMIGRATION Priority: Substantive, Nonsignificant Required: Undetermined APPLICANTS CFR Citation: 26 CFR 1; 26 CFR 301; Government Levels Affected: None Priority: Substantive, Nonsignificant 26 CFR 602 Agency Contact: W. Edward Williams CFR Citation: 26 CFR 301 Timetable: Phone: 202 622–3880 Timetable: Action Date FR Cite RIN: 1545–AC10 NPRM 06/23/88 53 FR 23659 Action Date FR Cite Next Action Undetermined 2837. FSC TRANSFER PRICING NPRM 12/24/92 57 FR 61373 Next Action Undetermined Regulatory Flexibility Analysis RULES, DISTRIBUTIONS, DIVIDENDS Required: No RECEIVED, DEDUCTION, AND OTHER Regulatory Flexibility Analysis SPECIAL RULES FOR FSC Required: No Small Entities Affected: No Priority: Substantive, Nonsignificant Small Entities Affected: No Government Levels Affected: None CFR Citation: 26 CFR 1 Government Levels Affected: None Agency Contact: Margaret A. Hogan Timetable: Phone: 202 622–3850 Agency Contact: Willard W. Yates Action Date FR Cite Phone: 202 622–3880 RIN: 1545–AC09 NPRM 03/03/87 52 FR 6467 Fax: 202 622–4476 NPRM Comment 05/02/87 RIN: 1545–AJ93 2836. INCOME TAX—DEFINITION OF Period End QUALIFIED POSSESSION SOURCE Next Action Undetermined INVESTMENT INCOME FOR Regulatory Flexibility Analysis 2839. INCOME OF FOREIGN PURPOSES OF PUERTO RICO AND Required: No GOVERNMENTS AND POSSESSION TAX CREDIT Small Entities Affected: No INTERNATIONAL ORGANIZATIONS Priority: Substantive, Nonsignificant Government Levels Affected: None Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Agency Contact: Christopher J. Bello CFR Citation: 26 CFR 1
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TREAS—IRS Long-Term Actions
Timetable: Timetable: Timetable: Action Date FR Cite Action Date FR Cite Action Date FR Cite NPRM 06/27/88 53 FR 24100 NPRM 05/13/91 56 FR 21963 NPRM 06/18/91 56 FR 27907 NPRM Comment 08/26/88 Hearing 07/12/91 56 FR 21963 Hearing 09/25/91 Period End Next Action Undetermined Final Action 12/00/05 Next Action Undetermined Regulatory Flexibility Analysis Regulatory Flexibility Analysis Regulatory Flexibility Analysis Required: Undetermined Required: No Required: No Small Entities Affected: Government Levels Affected: None No Small Entities Affected: No Government Levels Affected: None Agency Contact: W. Edward Williams Government Levels Affected: None Phone: 202 622–3880 Agency Contact: Theodore D. Setzer Agency Contact: David A. Juster Phone: 202 622–3870 RIN: 1545–AM91 Phone: 202 622–3850 RIN: 1545–AO24 RIN: 1545–AL93 2843. CONSOLIDATED ALTERNATIVE 2846. CHARITABLE CONTRIBUTIONS MINIMUM TAX 2840. CLARIFICATION OF Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant TREATMENT OF SEPARATE CFR Citation: 26 CFR 1 LIMITATION LOSSES CFR Citation: 26 CFR 1 Timetable: Priority: Substantive, Nonsignificant Timetable: Action Date FR Cite CFR Citation: 26 CFR 1 Action Date FR Cite NPRM 03/12/91 56 FR 10395 Timetable: NPRM 12/30/92 57 FR 62251 Hearing 08/01/91 56 FR 23823 Action Date FR Cite NPRM Comment 03/01/93 Next Action Undetermined Period End Regulatory Flexibility Analysis NPRM 12/00/05 Hearing 04/06/93 Required: No Regulatory Flexibility Analysis Next Action Undetermined Small Entities Affected: No Required: No Regulatory Flexibility Analysis Government Levels Affected: None Small Entities Affected: No Required: Undetermined Agency Contact: Teresa B. Hughes Government Levels Affected: None Government Levels Affected: None Phone: 202 622–3850 Agency Contact: Richard L. Chewning Agency Contact: Martin Scully RIN: 1545–AP30 Phone: 202 622–3850 Phone: 202 622–8066 RIN: 1545–AM11 RIN: 1545–AN73 2847. USE OF GAAP EARNINGS AS E&P OF FOREIGN CORPORATIONS 2841. EARNINGS AND PROFITS OF 2844. CONFORMING TAXABLE YEARS Priority: Substantive, Nonsignificant CONTROLLED FOREIGN OF CFCS AND FPHCS CFR Citation: 26 CFR 1 CORPORATIONS Priority: Substantive, Nonsignificant Timetable: Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Action Date FR Cite CFR Citation: 26 CFR 1 Timetable: NPRM 07/01/92 57 FR 29246 Timetable: Next Action Undetermined Action Date FR Cite Action Date FR Cite Regulatory Flexibility Analysis NPRM 01/05/93 58 FR 290 NPRM 01/25/90 55 FR 2535 Required: No Next Action Undetermined Next Action Undetermined Small Entities Affected: No Regulatory Flexibility Analysis Regulatory Flexibility Analysis Government Levels Affected: None Required: No Required: No Agency Contact: Margaret A. Hogan Small Entities Affected: No Small Entities Affected: No Phone: 202 622–3850 Government Levels Affected: None Government Levels Affected: None RIN: 1545–AQ55 Agency Contact: Margaret A. Hogan Agency Contact: Carl M. Cooper Phone: 202 622–3850 Phone: 202 622–3840 2848. THE TREATMENT OF RIN: 1545–AM90 RIN: 1545–AO22 ACCELERATED DEATH BENEFITS Priority: Substantive, Nonsignificant 2842. CARIBBEAN BASIN 2845. EARNINGS STRIPPING CFR Citation: 26 CFR 1 INVESTMENTS PAYMENTS Timetable: Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant Action Date FR Cite CFR Citation: 26 CFR 1 CFR Citation: 26 CFR 1 NPRM 12/15/92 57 FR 59319
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TREAS—IRS Long-Term Actions
Action Date FR Cite Timetable: 2854. APPLICATION OF ATTRIBUTION RULES TO FOREIGN TRUSTS NPRM Comment 02/26/93 Action Date FR Cite Priority: Substantive, Nonsignificant Period End NPRM 09/27/96 61 FR 50778 Hearing 03/19/93 NPRM Comment 12/26/96 CFR Citation: 26 CFR 1 Next Action Undetermined Period End Timetable: Regulatory Flexibility Analysis Hearing 01/15/97 Action Date FR Cite Required: No Next Action Undetermined NPRM To Be Determined Small Entities Affected: No Regulatory Flexibility Analysis Regulatory Flexibility Analysis Government Levels Affected: None Required: No Required: No Agency Contact: Ann H. Logan Small Entities Affected: No Small Entities Affected: No Phone: 202 622–3970 Government Levels Affected: None Government Levels Affected: None RIN: 1545–AQ70 Agency Contact: M. Grace Fleeman Federalism: Phone: 202 622–3880 Undetermined 2849. ALLOCATION OF ACCRUED Agency Contact: M. Grace Fleeman BENEFITS BETWEEN EMPLOYER Linda S.F. Marshall Phone: 202 622–3880 AND EMPLOYEE CONTRIBUTIONS Phone: 202 622–6090 RIN: 1545–AU91 Priority: Substantive, Nonsignificant James A. Quinn CFR Citation: 26 CFR 1 Phone: 202 622–3070 2855. FINANCIAL ASSET SECURITIZATION INVESTMENT Timetable: RIN: 1545–AU29 TRUST (FASIT) START–UP; Action Date FR Cite OPERATIONAL AND TRANSITIONAL NPRM 12/22/95 60 FR 66532 2852. RECOMPUTATION OF LIFE RULES NPRM Comment 03/21/96 INSURANCE RESERVES Priority: Substantive, Nonsignificant Period End Priority: Substantive, Nonsignificant CFR Citation: Next Action Undetermined 26 CFR 301; 26 CFR 1 CFR Citation: Regulatory Flexibility Analysis 26 CFR 1 Timetable: Required: No Timetable: Action Date FR Cite Small Entities Affected: No Action Date FR Cite ANPRM 11/04/96 61 FR 56648 ANPRM Comment 12/31/96 Government Levels Affected: None NPRM 01/02/97 62 FR 71 Period End Agency Contact: Cathy A. Vohs Final Action 12/00/05 NPRM 02/07/00 65 FR 5807 Phone: 202 622–6090 Regulatory Flexibility Analysis Next Action Undetermined RIN: 1545–AT82 Required: No Regulatory Flexibility Analysis Small Entities Affected: No Required: No 2850. FOREIGN CORPORATIONS Government Levels Affected: None Small Entities Affected: No REGULATIONS Agency Contact: Mark S. Smith Government Levels Affected: None Priority: Substantive, Nonsignificant Phone: 202 622–3970 Agency Contact: John W. Rogers, III CFR Citation: 26 CFR 1 RIN: 1545–AU49 Phone: 202 622–3950 Timetable: RIN: 1545–AU94 Action Date FR Cite 2853. SOURCE RULES FOR NPRM 03/08/96 61 FR 9377 PAYMENTS MADE PURSUANT TO 2856. RETURN OF LEVIED PROPERTY Next Action Undetermined CERTAIN SWAP ARRANGEMENTS IN CERTAIN CASES Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant Required: No CFR Citation: 26 CFR 1 CFR Citation: 26 CFR 301 Small Entities Affected: No Timetable: Timetable: Government Levels Affected: None Action Date FR Cite Action Date FR Cite Agency Contact: Gregory A. Spring NPRM 02/14/01 66 FR 10249 NPRM 12/00/05 Phone: 202 622–3870 Final Action 12/00/05 RIN: 1545–AT96 Regulatory Flexibility Analysis Regulatory Flexibility Analysis Required: No Required: No 2851. APPLICATION OF GRANTOR Small Entities Affected: No Small Entities Affected: No TRUST RULES TO NONEXEMPT Government Levels Affected: None Government Levels Affected: None EMPLOYEES’ TRUST Agency Contact: Paul S. Epstein Agency Contact: Kevin B. Connelly Priority: Substantive, Nonsignificant Phone: 202 622–3870 Phone: 202 622–3630 CFR Citation: 26 CFR 1 RIN: 1545–AU89 RIN: 1545–AV01
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TREAS—IRS Long-Term Actions
2857. STOCKS AND SECURITIES 2860. SPECIAL RULES FOR S 2863. NONCOMPENSATORY SAFE HARBOR EXCEPTION CORPORATIONS PARTNERSHIP OPTIONS Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 CFR Citation: 26 CFR 301; 26 CFR 601 CFR Citation: 26 CFR 1 Timetable: Timetable: Timetable: Action Date FR Cite Action Date FR Cite Action Date FR Cite NPRM 06/12/98 63 FR 32164 NPRM 04/27/92 57 FR 15272 NPRM 01/22/03 68 FR 2930 Hearing 09/09/98 NPRM Comment 06/26/92 Public Hearing 05/20/03 NPRM Comment 09/10/98 Period End Final Action 12/00/05 Period End Next Action Undetermined Regulatory Flexibility Analysis Final Action 12/00/05 Regulatory Flexibility Analysis Required: No Regulatory Flexibility Analysis Required: No Required: Small Entities Affected: No No Small Entities Affected: No Small Entities Affected: Government Levels Affected: No Government Levels Affected: None Government Levels Affected: None Undetermined Agency Contact: David A. Juster Agency Contact: Theodore D. Setzer Phone: 202 622–3850 Federalism: Undetermined Phone: 202 622–3870 Related RIN: Split from 1545–AP35, Agency Contact: Demetri G. Yatrakis RIN: 1545–AW13 Related to 1545–AS88 Phone: 202 622–3060 RIN: 1545–AY44 Audrey W. Ellis 2858. SOURCE OF INCOME FROM Phone: 202 622–3060 CERTAIN SPACE AND OCEAN 2861. PAYMENTS FOR INTEREST IN ACTIVITIES AND FOR RIN: 1545–BA53 PARTNERSHIP COMMUNICATIONS INCOME Priority: Priority: Substantive, Nonsignificant Substantive, Nonsignificant 2864. EARNINGS AND PROFITS ATTRIBUTION PRINCIPLES CFR Citation: 26 CFR 1 CFR Citation: 26 CFR 1 Timetable: Timetable: Priority: Substantive, Nonsignificant Action Date FR Cite Action Date FR Cite CFR Citation: 26 CFR 1 NPRM 01/17/01 66 FR 3903 NPRM 12/00/05 Timetable: Next Action Undetermined Hearing 05/23/01 66 FR 12916 Regulatory Flexibility Analysis Regulatory Flexibility Analysis Next Action Undetermined Required: No Required: Undetermined Regulatory Flexibility Analysis Small Entities Affected: No Government Levels Affected: Required: No Government Levels Affected: None Undetermined Small Entities Affected: No Agency Contact: James M. Gergurich Federalism: Undetermined Government Levels Affected: None Phone: 202 622–3070 Agency Contact: Mark R. Pollard Agency Contact: Edward R. Barret RIN: 1545–AY90 Phone: 202 622–3850 Phone: 202 435–5265 RIN: 1545–BA93 RIN: 1545–AW50 2862. CONSOLIDATED RETURNS; NONAPPLICABILITY OF SECTION 2865. MIXED USE OUTPUT FACILITIES 2859. CONSTRUCTIVE SALES OF 357(C) Priority: Substantive, Nonsignificant APPRECIATED FINANCIAL POSITIONS Priority: Substantive, Nonsignificant CFR Citation: Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 26 CFR 1 CFR Citation: 26 CFR 1 Timetable: Timetable: Timetable: Action Date FR Cite Action Date FR Cite Action Date FR Cite NPRM 11/14/01 66 FR 57021 ANPRM 09/23/02 67 FR 59767 Next Action Undetermined NPRM 12/00/05 Public Hearing 03/21/02 Regulatory Flexibility Analysis Final Action 12/00/05 Regulatory Flexibility Analysis Required: Undetermined Regulatory Flexibility Analysis Required: Undetermined Required: Small Entities Affected: Businesses, No Government Levels Affected: Local, Organizations Small Entities Affected: No State Government Levels Affected: None Government Levels Affected: None Federalism: Undetermined Agency Contact: Kathleen Sleeth Agency Contact: Thomas I. Russell Agency Contact: Rose M. Weber Phone: 202 622–3920 Phone: 202 622–7550 Phone: 202 622–3980 RIN: 1545–AW97 RIN: 1545–BA09 RIN: 1545–BB23
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TREAS—IRS Long-Term Actions
2866. ACCRUAL RULES FOR 2869. SAFE HARBOR LEASING 2872. SUBSTITUTE FOR RETURN CREDITABLE FOREIGN TAXES AND SECOND INTEREST CAPITALIZATION (SFR) AND AUTOMATED SUBSTITUTE GUIDANCE ON CHANGE IN TAXABLE (TEMPORARY) FOR RETURN (ASFR) YEAR Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant. Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Major status under 5 USC 801 is undetermined. CFR Citation: 26 CFR 1 Timetable: CFR Citation: 26 CFR 301 Action Date FR Cite Timetable: Next Action Undetermined Timetable: Temporary Regulation 07/00/05 Regulatory Flexibility Analysis Action Date FR Cite Required: Undetermined Regulatory Flexibility Analysis Required: No NPRM 12/00/05 Small Entities Affected: Businesses Small Entities Affected: No Regulatory Flexibility Analysis Government Levels Affected: None Government Levels Affected: None Required: Undetermined Agency Contact: Margaret A. Hogan Agency Contact: Grant D. Anderson Government Levels Affected: Phone: 202 622–3850 Phone: 202 622–4930 Undetermined Agency Contact: Tracey B. Leibowitz RIN: 1545–BB27 Related RIN: Related to 1545–BB62 Phone: 202 622–4940 RIN: 1545–BB63 Related RIN: Related to 1545–BC46 2867. AMENDMENT TO SECTION 6724 RELATING TO FAILURE TO FILE 2870. INSTALLMENT OBLIGATIONS RIN: 1545–BC45 CORRECT INFORMATION RETURNS Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 2873. GUARANTEE FEES UNDER SECTION 143(G) CFR Citation: 26 CFR 1 Timetable: Priority: Substantive, Nonsignificant. Timetable: Action Date FR Cite Major status under 5 USC 801 is undetermined. Action Date FR Cite NPRM 11/24/03 68 FR 65864 Final Action 12/00/05 CFR Citation: 26 CFR 1 NPRM 07/09/03 68 FR 40857 Regulatory Flexibility Analysis Final Action 12/00/05 Timetable: Required: No Action Date FR Cite Regulatory Flexibility Analysis Small Entities Affected: No Required: No Government Levels Affected: NPRM 11/05/03 68 FR 62549 Final Action To Be Determined Small Entities Affected: No Undetermined Federalism: Undetermined Regulatory Flexibility Analysis Government Levels Affected: None Required: No Agency Contact: Christopher L. Trump Agency Contact: William M. Kostak Phone: 202 622–3080 Small Entities Affected: No Phone: 202 622–4910 RIN: 1545–BB65 Government Levels Affected: Local, RIN: 1545–BB41 State 2871. CORPORATE Agency Contact: Michael P. Brewer 2868. SAFE HARBOR LEASING REORGANIZATIONS; CONTINUITY— Phone: 202 622–3980 SECOND INTEREST CAPITALIZATION TRANSFERS OF ASSETS OR STOCK RIN: 1545–BC59 Priority: Substantive, Nonsignificant FOLLOWING A REORGANIZATION Priority: Substantive, Nonsignificant • CFR Citation: 26 CFR 1 2874. TRANSFERS OF RESTRICTED CFR Citation: 26 CFR 1 STOCK Timetable: Timetable: Priority: Substantive, Nonsignificant Action Date FR Cite Action Date FR Cite Legal Authority: 42 USC 83 NPRM 07/00/05 NPRM 03/02/04 69 FR 9771 CFR Citation: 26 CFR 1 Regulatory Flexibility Analysis Final Action 12/00/05 Legal Deadline: None Required: No Regulatory Flexibility Analysis Abstract: Temporary and cross- Small Entities Affected: No Required: No referencing proposed regulations Small Entities Affected: No addressing the application of section 83 Government Levels Affected: None Government Levels Affected: None to the transfer of substantially Agency Contact: Grant D. Anderson nonvested stock to a related person. Agency Contact: Rebecca O. Burch Phone: 202 622–4930 Phone: 202 622–7550 Timetable: Related RIN: Related to 1545–BB63 Related RIN: Related to 1545–BB81 Action Date FR Cite RIN: 1545–BB62 RIN: 1545–BB80 NPRM 12/00/05
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TREAS—IRS Long-Term Actions
Regulatory Flexibility Analysis 2875. • TRANSFERS OF RESTRICTED Small Entities Affected: No Required: No STOCK (TEMPORARY) Government Levels Affected: None Small Entities Affected: No Priority: Substantive, Nonsignificant Additional Information: REG-127147-04 Government Levels Affected: None Legal Authority: 42 USC 83 Additional Information: Drafting attorney: Stephen B. Tackney REG-127147-04 CFR Citation: 26 CFR 1 Drafting attorney: Stephen B. Tackney (202) 622-7574 Legal Deadline: None (202) 622-6030 Treasury attorney: Dan Hogans (202) Treasury attorney: Dan Hogans (202) Abstract: Temporary and cross- 622-1332 622-1332 referencing proposed regulations addressing the application of section 83 CC: TEGE CC: TEGE to the transfer of substantially Agency Contact: Stephen B. Tackney, Agency Contact: Stephen B. Tackney, nonvested stock to a related person. Attorney–Advisor, Department of the Attorney–Advisor, Department of the Timetable: Treasury, Internal Revenue Service, Treasury, Internal Revenue Service, Action Date FR Cite 1111 Constitution Avenue NW, 1111 Constitution Avenue NW, Washington, DC 20224 Washington, DC 20224 Temporary 12/00/05 Phone: 202 622–6030 Phone: 202 622–6030 Regulations Related RIN: Related to 1545–BD44 Related RIN: Related to 1545–BD45 Regulatory Flexibility Analysis RIN: 1545–BD44 Required: No RIN: 1545–BD45
Department of the Treasury (TREAS) Completed Actions Internal Revenue Service (IRS)
2876. QUALIFIED OFFERS Agency Contact: Rose M. Weber Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant Phone: 202 622–3980 Required: No RIN: CFR Citation: 26 CFR 1 1545–AX22 Small Entities Affected: No Completed: Government Levels Affected: None Reason Date FR Cite 2878. LIKE–KIND EXCHANGES Priority: Substantive, Nonsignificant Agency Contact: Bradford R. Poston Final Action 12/29/03 68 FR 74848 Completed by TD CFR Citation: 26 CFR 1 Phone: 202 622–3060 9106 Completed: RIN: 1545–AX96 Regulatory Flexibility Analysis Reason Date FR Cite Required: No NPRM 03/01/04 69 FR 9560 2880. ELECTING MARK–TO–MARKET Small Entities Affected: No Hearing 06/03/04 69 FR 9561 FOR MARKETABLE STOCK OF A PFIC Government Levels Affected: None Final Action 03/01/04 69 FR 9529 Agency Contact: Tami C. Belouin Completed by TD Priority: Substantive, Nonsignificant 9115 Phone: 202 622–3847 CFR Citation: 26 CFR 1 RIN: 1545–AW99 Regulatory Flexibility Analysis Required: No Completed: Small Entities Affected: No 2877. GUARANTEED INVESTMENT Reason Date FR Cite Government Levels Affected: None CONTRACTS Final Action 05/03/04 69 FR 24071 Priority: Substantive, Nonsignificant Agency Contact: Charles Magee Completed by TD Phone: 202 622–3110 9123 CFR Citation: 26 CFR 1 RIN: 1545–AX95 Completed: Regulatory Flexibility Analysis Reason Date FR Cite Required: No 2879. DEFINITION OF INCOME Final Action 12/11/03 68 FR 69020 Small Entities Affected: No Completed by TD Priority: Substantive, Nonsignificant 9097 CFR Citation: 26 CFR 1 Government Levels Affected: None Regulatory Flexibility Analysis Completed: Federalism: No Required: No Reason Date FR Cite Agency Contact: Small Entities Affected: No Alexandra K. Helou Final Action 01/02/04 69 FR 12 Phone: 202 622–3840 Government Levels Affected: Local, Completed by TD State 9102 RIN: 1545–AY17
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TREAS—IRS Completed Actions
2881. ACTIVE CONDUCT OF AN 2884. LOW–INCOME TAXPAYER 2887. EXPENDITURES IN INSURANCE BUSINESS UNDER PFIC CLINICS CONNECTION WITH THE CREATION RULES Priority: Substantive, Nonsignificant OF INTANGIBLE ASSETS Priority: Substantive, Nonsignificant. CFR Citation: 26 CFR 1 Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Completed: CFR Citation: 26 CFR 1 Completed: Reason Date FR Cite Completed: Reason Date FR Cite Final Action 12/18/02 67 FR 77418 Reason Date FR Cite Completed by TD Final Action – Closed 04/30/04 Final Action 01/05/04 69 FR 436 9026 Without Regulation Completed by TD Regulatory Flexibility Analysis 9107 Regulatory Flexibility Analysis Required: No Regulatory Flexibility Analysis Required: No Small Entities Affected: No Required: No Small Entities Affected: No Government Levels Affected: None Small Entities Affected: No Government Levels Affected: Agency Contact: Brinton T. Warren Government Levels Affected: None Undetermined Phone: 202 622–4940 Agency Contact: Andrew J. Keyso Agency Contact: Sheila Ramaswamy Related RIN: Related to 1545–BA95 Phone: 202 622–5020 Phone: 202 622–3870 RIN: 1545–AY84 RIN: 1545–BA00 RIN: 1545–AY20
2885. DEFINITION OF AGENT AND 2888. ALLOCATION AND 2882. ELECTRONIC FURNISHING OF SAFEGUARD CERTIFICATIONS APPORTIONMENT OF INTEREST PAYEE STATEMENTS EXPENSE; TAX BOOK VALUE Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant DISPARITIES CFR Citation: 26 CFR 301 Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1; 26 CFR 31 Completed: CFR Citation: 26 CFR 1 Completed: Reason Date FR Cite Completed: Reason Date FR Cite Final Action 01/06/04 69 FR 506 Reason Date FR Cite Final Action 02/13/04 69 FR 7567 Completed by TD Completed by TD 9111 NPRM 03/26/04 69 FR 15754 9114 Regulatory Flexibility Analysis Hearing 07/19/04 69 FR 15753 Regulatory Flexibility Analysis Required: No Final Action 03/26/04 69 FR 15673 Completed by TD Required: No Small Entities Affected: No 9120 Small Entities Affected: No Government Levels Affected: Federal, Regulatory Flexibility Analysis Government Levels Affected: State Local, State Required: No Agency Contact: Helene R. Newsome Agency Contact: Michael E. Hara Small Entities Affected: No Phone: 202 622–4570 Phone: 202 622–4910 Government Levels Affected: None RIN: 1545–AY94 RIN: 1545–AY50 Agency Contact: Margaret A. Hogan Phone: 202 622–3850 2886. TAX SHELTER PENALTIES 2883. RESEARCH CREDIT III Related RIN: Related to 1545–BA92 Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant RIN: 1545–BA02 CFR Citation: 26 CFR 301 CFR Citation: 26 CFR 1 Completed: 2889. CONTINUATION OF A Completed: Reason Date FR Cite CONSOLIDATED GROUP Reason Date FR Cite Final Action 12/30/03 68 FR 75126 Priority: Substantive, Nonsignificant Final Action 01/02/04 69 FR 22 Completed by TD CFR Citation: 26 CFR 1 Completed by TD 9109 9104 Completed: Regulatory Flexibility Analysis Regulatory Flexibility Analysis Required: No Reason Date FR Cite Required: No Small Entities Affected: No Withdrawn 04/23/04 Small Entities Affected: No Government Levels Affected: None Regulatory Flexibility Analysis Required: Government Levels Affected: None Agency Contact: Jamie G. Bernstein No Agency Contact: Nicole R. Cimino Phone: 202 622–7845 Small Entities Affected: No Phone: 202 622–3120 Related RIN: Related to 1545–BB70 Government Levels Affected: None RIN: 1545–AY82 RIN: 1545–AY97 Agency Contact: Christopher M. Bass
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TREAS—IRS Completed Actions
Phone: 202 622–7770 2893. TAX BOOK VALUE DISPARITIES Phone: 202 622–4940 RIN: 1545–BA14 Priority: Substantive, Nonsignificant Related RIN: Related to 1545–BB00 CFR Citation: 26 CFR 1 RIN: 1545–BB45 2890. MODIFICATION OF CHECK THE Completed: BOX REGULATIONS (TEMPORARY) Reason Date FR Cite 2896. STATUTORY OPTIONS Priority: Substantive, Nonsignificant (TEMPORARY) CFR Citation: 26 CFR 1; 26 CFR 301 Final Action 03/26/04 69 FR 15673 Completed by TD Priority: Substantive, Nonsignificant Completed: 9120 CFR Citation: 26 CFR 1 Reason Date FR Cite Regulatory Flexibility Analysis Completed: Withdrawn 05/13/04 Required: No Reason Date FR Cite Regulatory Flexibility Analysis Small Entities Affected: No Required: No Government Levels Affected: None Withdrawn 04/22/04 Small Entities Affected: Businesses Agency Contact: Margaret A. Hogan Regulatory Flexibility Analysis Government Levels Affected: None Phone: 202 622–3850 Required: No Agency Contact: James M. Gergurich Related RIN: Related to 1545–BA02 Small Entities Affected: No Phone: 202 622–3070 RIN: 1545–BA92 Government Levels Affected: None RIN: 1545–BA58 Agency Contact: Erinn M. Madden 2894. PREPARER PENALTIES— Phone: 202 622–6030 2891. ABATEMENT OF INTEREST ON SIGNATURE REQUIREMENT AND Related RIN: Related to 1545–BA75 LARGE ERRONEOUS REFUNDS COPIES OF RETURNS RIN: 1545–BB69 Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 CFR Citation: 26 CFR 1 2897. REAL ESTATE MORTGAGE Completed: Completed: INVESTMENT CONDUITS (REMICS); Reason Date FR Cite APPLICATION OF SECTION 446 WITH Reason Date FR Cite Withdrawn 05/13/04 RESPECT TO INDUCEMENT FEES Final Action 03/24/04 69 FR 15248 Regulatory Flexibility Analysis Completed by TD Priority: Substantive, Nonsignificant Required: No 9119 CFR Citation: 26 CFR 1 Small Entities Affected: No Regulatory Flexibility Analysis Completed: Government Levels Affected: None Required: No Reason Date FR Cite Agency Contact: David A. Abernathy Small Entities Affected: No Phone: 202 622–7940 Public Hearing 11/18/03 68 FR 63744 Government Levels Affected: None Cancelled RIN: 1545–BA61 Agency Contact: Richard C. Grosenick Final Action 05/11/04 69 FR 26040 Phone: 202 622–5510 Completed by TD 9125 2892. CARRYOVER AND STACKING Related RIN: Related to 1545–AL49, Regulatory Flexibility Analysis RULE AMENDMENT Related to 1545–AT23, Related to Required: Priority: Substantive, Nonsignificant 1545–AW52, Related to 1545–AW83 No CFR Citation: 26 CFR 1 RIN: 1545–BB34 Government Levels Affected: None Completed: Agency Contact: John W. Rogers, III Phone: 202 622–3950 Reason Date FR Cite 2895. HAND CARRYING RETURNS (TEMPORARY) Final Action 01/06/04 69 FR 502 RIN: 1545–BB73 Completed by TD Priority: Substantive, Nonsignificant 9110 CFR Citation: 26 CFR 1 2898. CORPORATE Regulatory Flexibility Analysis REORGANIZATIONS; CONTINUITY— Required: No Completed: TRANSFERS OF ASSETS OR STOCK Small Entities Affected: No Reason Date FR Cite FOLLOWING A REORGANIZATION (TEMPORARY) Government Levels Affected: None Withdrawn 05/11/04 Priority: Substantive, Nonsignificant Agency Contact: Christopher J. Wilson Regulatory Flexibility Analysis Phone: 202 622–3040 Required: No CFR Citation: 26 CFR 1 Small Entities Affected: No Completed: Lauren R. Taylor Phone: 202 622–3040 Government Levels Affected: None Reason Date FR Cite RIN: 1545–BA85 Agency Contact: Emly B. Berndt Withdrawn 05/03/04
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TREAS—IRS Completed Actions
Regulatory Flexibility Analysis Completed: 2904. REMOVAL OF SECTION 6152 Required: No Reason Date FR Cite REGULATIONS Small Entities Affected: No Final Action 03/11/04 69 FR 11507 Priority: Substantive, Nonsignificant. Government Levels Affected: None Completed by TD CFR Citation: 9116 26 CFR 301; 26 CFR 1 Agency Contact: Rebecca O. Burch Completed: Phone: 202 622–7550 Regulatory Flexibility Analysis Required: No Reason Date FR Cite Related RIN: Related to 1545–BB80 Small Entities Affected: No Final Action 12/03/03 68 FR 67595 RIN: 1545–BB81 Completed by TD Government Levels Affected: None 9096 2899. ASSUMPTION OF Agency Contact: Paul F. Handleman Regulatory Flexibility Analysis PARTNERSHIP LIABILITIES Phone: 202 622–3040 Required: No (TEMPORARY) Related RIN: Related to 1545–BC03 Small Entities Affected: No Priority: Substantive, Nonsignificant RIN: 1545–BC02 Government Levels Affected: None CFR Citation: 26 CFR 1 Agency Contact: Janice R. Feldman Completed: 2902. CHANGES IN COMPUTING Phone: 202 622–8488 DEPRECIATION (TEMPORARY) Reason Date FR Cite RIN: 1545–BC53 Final Action 06/24/03 68 FR 37414 Priority: Substantive, Nonsignificant Completed by TD CFR Citation: 26 CFR 1 9062 2905. GUIDANCE NECESSARY TO Completed: FACILITATE BUSINESS ELECTRONIC Regulatory Flexibility Analysis FILING (TEMPORARY) Required: No Reason Date FR Cite Priority: Substantive, Nonsignificant. Small Entities Affected: No Final Action 01/02/04 69 FR 5 Completed by TD CFR Citation: 26 CFR 1; 26 CFR 301; Government Levels Affected: None 9105 26 CFR 602 Agency Contact: Horace W. Howells Regulatory Flexibility Analysis Completed: Phone: 202 622–3050 Required: No Reason Date FR Cite Related RIN: Related to 1545–AX93 Small Entities Affected: No Temporary Regulation 12/18/03 68 FR 70701 RIN: 1545–BB83 Government Levels Affected: None Completed by TD Agency Contact: Sara L. Logan 9100 2900. DISTRIBUTIONS OF LOSS Phone: 202 622–3110 Regulatory Flexibility Analysis CORPORATION STOCK BY Required: No QUALIFIED PLANS Related RIN: Related to 1545–BC18 Small Entities Affected: No Priority: Substantive, Nonsignificant RIN: 1545–BC17 Government Levels Affected: None CFR Citation: 26 CFR 1 2903. LIKE–KIND EXCHANGES UNDER Completed: Agency Contact: Nathan B. Rosen SECTION 168 (TEMPORARY) Phone: 202 622–4910 Reason Date FR Cite Priority: Substantive, Nonsignificant Related RIN: Related to 1545–BC15 Final Action 09/09/03 68 FR 53219 CFR Citation: Completed by TD 26 CFR 1 RIN: 1545–BC62 9063 Completed: Regulatory Flexibility Analysis Reason Date FR Cite 2906. PARTNERSHIP TRANSACTIONS Required: No Final Action 03/01/04 69 FR 9529 INVOLVING PARTNER’S STOCK Small Entities Affected: No Completed by TD Priority: Substantive, Nonsignificant 9115 Government Levels Affected: None CFR Citation: 26 CFR 1 Regulatory Flexibility Analysis Agency Contact: Martin T. Huck Required: No Completed: Phone: 202 622–7750 Small Entities Affected: Businesses Reason Date FR Cite RIN: 1545–BC00 Government Levels Affected: None Withdrawn 05/13/04 2901. NEW MARKETS TAX CREDIT Agency Contact: Charles Magee Regulatory Flexibility Analysis AMENDMENTS (TEMPORARY) Phone: 202 622–3110 Required: No Priority: Substantive, Nonsignificant Related RIN: Related to 1545–AX95 Small Entities Affected: No CFR Citation: 26 CFR 1 RIN: 1545–BC27 Government Levels Affected: None
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TREAS—IRS Completed Actions
Agency Contact: Tara P. Volungis 2910. GUIDANCE UNDER SECTION Treasury, Internal Revenue Service, Phone: 202 927–3080 1502; APPLICATION OF SECTION 108 1111 Constitution Avenue NW, RIN: 1545–BC64 TO MEMBERS OF A CONSOLIDATED Washington, DC 20224 GROUP (TEMPORARY) Phone: 202 622–4910 Priority: Substantive, Nonsignificant 2907. QUALIFIED ZONE ACADEMY Related RIN: Related to 1545–BB40, BONDS (TEMPORARY) CFR Citation: 26 CFR 1 Related to 1545–BB60 Priority: Substantive, Nonsignificant Completed: RIN: 1545–BC79 CFR Citation: 26 CFR 1 Reason Date FR Cite Completed: Final Action 12/11/03 68 FR 69024 2912. • LOSS LIMITATION RULES Completed by TD (TEMPORARY) Reason Date FR Cite 9098 Withdrawn 05/13/04 Priority: Substantive, Nonsignificant. Regulatory Flexibility Analysis Major status under 5 USC 801 is Regulatory Flexibility Analysis Required: No undetermined. Required: No Small Entities Affected: No Small Entities Affected: No Legal Authority: 26 USC 1502; 26 USC Government Levels Affected: None 7805 Government Levels Affected: Local, Agency Contact: Amber R. Cook State CFR Citation: 26 CFR 1 Phone: 202 622–7530 Agency Contact: Zoran Stojanovic Related RIN: Related to 1545–BC38, Legal Deadline: None Phone: 202 622–4096 Related to 1545–BC39, Related to Abstract: These temporary regulations Related RIN: Related to 1545–BC61 1545–BC74 clarify that a worthless stock deduction RIN: 1545–BC68 RIN: 1545–BC77 in stock of a member of a consolidated group results in the elimination of that member’s apportioned losses only if the 2908. CONFIDENTIAL TRANSACTIONS 2911. • INFORMATION REPORTING member has no separate return year. RELATING TO TAXABLE STOCK Priority: Substantive, Nonsignificant These temporary regulations also clarify TRANSACTIONS (TEMPORARY) CFR Citation: 26 CFR 1 that stock of a member of a Priority: Substantive, Nonsignificant. Completed: consolidated group may be treated as Major status under 5 USC 801 is worthless, provided it otherwise Reason Date FR Cite undetermined. qualified for such treatment under the Withdrawn 12/30/03 Legal Authority: 26 USC 6043; 26 USC Internal Revenue Code, as of 6045 immediately before the subsidiary Regulatory Flexibility Analysis ceases to be a member of the group. Required: No CFR Citation: 26 CFR 1 This temporary regulation, REG- Small Entities Affected: No Legal Deadline: None 153172-03, replaces section 1.1502- 35T(f) which was published in the Government Levels Affected: None Abstract: These temporary regulations Federal Register on March 14, 2003, at under sections 6043 and 6045 require Agency Contact: Tara P. Volungis 68 FR 12287 (2003-13 I.R.B. 645), information reporting by corporations Phone: 202 927–3080 including all revisions thereto. See also, and brokers with respect to corporate RIN: the related notice of proposed 1545–BC75 acquisitions of control and substantial rulemaking published on March 14, changes to capital structure. 2003, at 68 FR 12324 (2003-13 I.R.B. 2909. CONFIDENTIAL TRANSACTIONS Timetable: 669). (TEMPORARY) Action Date FR Cite Priority: Substantive, Nonsignificant. Timetable: Temporary 12/30/03 68 FR 75119 Action Date FR Cite CFR Citation: 26 CFR 1 Regulations Completed: Completed by TD Final Action 03/18/04 69 FR 12799 9101 Completed by TD Reason Date FR Cite 9118 Regulatory Flexibility Analysis Final Action 12/30/03 68 FR 75128 Required: No Regulatory Flexibility Analysis Completed by TD 9108 Small Entities Affected: No Required: No Regulatory Flexibility Analysis Government Levels Affected: None Small Entities Affected: No Required: No Additional Information: REG-156232-03 Government Levels Affected: None Government Levels Affected: None Drafting attorney: Nancy L. Rose (202) Additional Information: REG-153172-03 Agency Contact: Tara P. Volungis 622-4910 Phone: 202 927–3080 CC:PA:APJ Drafting attorney: Lola L. Johnson (202) 622-7550 Related RIN: Related to 1545–BC75 Agency Contact: Nancy L. Rose, RIN: 1545–BC76 Attorney–Advisor, Department of the CC:COR
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TREAS—IRS Completed Actions
Agency Contact: Lola L. Johnson, CFR Citation: 26 CFR 1 Action Date FR Cite Attorney–Advisor, Department of the Legal Deadline: None Treasury, Internal Revenue Service, Final Action 12/24/03 68 FR 74847 1111 Constitution Avenue NW, Abstract: Temporary regulations under Completed by TD Washington, DC 20224 sections 1.1502-11 and 1.1502-28T. The 9103 Phone: 202 622–7550 regulations provide guidance to prevent circular basis computations resulting Regulatory Flexibility Analysis Related RIN: Related to 1545–BB25 from the application of section 108(b) Required: No RIN: 1545–BC84 and section 1.1502-28T, and guidance Small Entities Affected: No regarding recapture under section 1245 2913. • LOW–INCOME HOUSING following application of the look- Government Levels Affected: None through rules of section 1017(d) and CREDIT ALLOCATION Additional Information: REG-166071-03 CERTIFICATION; ELECTRONIC FILING section 1.1502-28T. Priority: Substantive, Nonsignificant. Timetable: Drafting attorney: Michael E. Hara (202) 622-4910 Legal Authority: 26 USC 42; 26 USC Action Date FR Cite 7805 Temporary Regulation 03/15/04 69 FR 12069 Reviewing attorney: Donna Welch (202) CFR Citation: 26 CFR 1 Completed by TD 622-4910 9117 Legal Deadline: None Treasury attorney: Eric San Juan (202) Regulatory Flexibility Analysis Abstract: This regulation will remove 622-0224 Required: electronic impediments to the manner No of filing the form for claiming the low- Small Entities Affected: No CC:PA:AP J income housing credit. Government Levels Affected: None Agency Contact: Michael E. Hara, Timetable: Additional Information: REG-167265-03 Attorney–Advisor, Department of the Action Date FR Cite Drafting attorney: Candace B. Ewell Treasury, Internal Revenue Service, (202) 622-7530 1111 Constitution Avenue NW, Final Action 01/27/04 69 FR 3826 Washington, DC 20224 Completed by TD Reviewing attorney: Marie Milnes- Phone: 202 622–4910 9112 Vasquez (202) 622-7530 Regulatory Flexibility Analysis Treasury attorney: Audrey Nacamuli RIN: 1545–BC97 Required: No (202) 622-5721 Small Entities Affected: No CC:COR 2916. • ELECTRONIC FILING OF Government Levels Affected: None Agency Contact: Candace B. Ewell, DUPLICATE FORMS 5472 Additional Information: REG-164212-03 Attorney–Advisor, Department of the (TEMPORARY) Treasury, Internal Revenue Service, Drafting attorney: Paul F. Handleman Priority: Substantive, Nonsignificant (202) 622-3040 1111 Constitution Avenue NW, Washington, DC 20224 Reviewing attorney: Harold Burghart Legal Authority: 26 USC 7805 Phone: 202 622–7530 (202) 622-3040 Related RIN: Related to 1545–BC95 CFR Citation: 26 CFR 1 Treasury attorney: Bruce Serchuk (202) 622-1766 RIN: 1545–BC96 Legal Deadline: None CC:PSI Abstract: These temporary regulations Agency Contact: Paul F. Handleman, 2915. • PAYMENT IN LIEU OF provide guidance on how the Attorney–Advisor, Department of the DIVIDENDS requirement to file a duplicate Form Treasury, Internal Revenue Service, Priority: Substantive, Nonsignificant. 5472 with the Internal Revenue Service 1111 Constitution Avenue NW, Legal Authority: 26 USC 6045 Center in Philadelphia, PA applies in Washington, DC 20224 the context of electronic filing. Phone: 202 622–3040 CFR Citation: 26 CFR 1 Timetable: RIN: 1545–BC90 Legal Deadline: None Abstract: These regulations provide Action Date FR Cite that brokers must file information 2914. • GUIDANCE UNDER SECTION Final Action 02/09/04 69 FR 5931 returns and furnish information 1502; COMPUTATION OF TAXABLE Completed by TD statements to individuals who receive INCOME WHEN SECTION 108 9113 substitute payments in lieu of APPLIES TO A MEMBER OF A dividends on, or after, January 1, 2003. Regulatory Flexibility Analysis CONSOLIDATED GROUP Required: No (TEMPORARY) Timetable: Priority: Substantive, Nonsignificant. Action Date FR Cite Small Entities Affected: No Legal Authority: 26 USC 1502 NPRM 12/00/04 Government Levels Affected: None
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TREAS—IRS Completed Actions
Additional Information: REG-167217-03 2917. • PARTNER’S DISTRIBUTIVE Government Levels Affected: None SHARE: FOREIGN TAX Drafting attorney: Edward R. Barrett EXPENDITURES (TEMPORARY) Additional Information: REG-139792-02 (202) 435-5265 Priority: Substantive, Nonsignificant. Drafting attorney: Beverly M. Katz (202) 622-3050 Reviewing attorney: Elizabeth G. Beck Legal Authority: 26 USC 7805 (202) 435-5265 CFR Citation: 26 CFR 1 Reviewing attorney: Daniel Carmody (202) 622-3050 Treasury attorney: Andrew Froberg Legal Deadline: None Treasury attorney: Deborah Harrington (202) 622-1779 Abstract: This regulation provides (202) 622-1788 guidance in the proper allocation of CC:INTL foreign tax expenditures under section CC:PSI 704(b). Agency Contact: Edward R. Barret, Agency Contact: Beverly M. Katz, Attorney–Advisor, Department of the Timetable: Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Action Date FR Cite Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, 1111 Constitution Avenue NW, Washington, DC 20224 Final Action 04/21/04 69 FR 21405 Washington, DC 20224 Phone: 202 435–5265 Completed by TD 9121 Phone: 202 622–3050 Related RIN: Related to 1545–BD0 Regulatory Flexibility Analysis Related RIN: Related to 1545–BB11 Required: No RIN: 1545–BD02 RIN: 1545–BD11 Small Entities Affected: No BILLING CODE 6720—01—S
Department of the Treasury (TREAS) Proposed Rule Stage Office of Thrift Supervision (OTS)
2918. RISK–BASED CAPITAL approach for credit risk and the Regulatory Flexibility Analysis GUIDELINES; IMPLEMENTATION OF Advanced Measurement Approaches for Required: No NEW BASEL CAPITAL ACCORD operational risk (together, the advanced Government Levels Affected: None approaches). The ANPRM specifies Priority: Substantive, Nonsignificant. criteria that would be used to Agency Contact: Teresa Scott, Counsel Major status under 5 USC 801 is determine banking organizations that (Banking and Finance), Department of undetermined. would be required to use the advanced the Treasury, Office of Thrift Unfunded Mandates: Undetermined approaches, subject to meeting certain Supervision, 1700 G Street NW., Legal Authority: 12 USC 1462; 12 USC qualifying criteria, supervisory Washington, DC 20552 1462a; 12 USC 1463; 12 USC 1464; 12 standards, and disclosure requirements. Phone: 202 906–6478 USC 1467a; 12 USC 1828 (note) Other banking organizations that meet the criteria, standards, and Michael D. Solomon, Senior Program CFR Citation: 12 CFR 567 requirements also would be eligible to Manager for Capital Policy, Supervision Legal Deadline: None use the advanced approaches. Under Policy, Department of the Treasury, the advanced approaches, banking Office of Thrift Supervision, 1700 G Abstract: The Office of the Comptroller organizations would use internal Street NW., Washington, DC 20552 of the Currency, the Board of Governors estimates of certain risk components as Phone: 202 906–5654 of the Federal Reserve System, the key inputs in the determination of their Federal Deposit Insurance Corporation, regulatory capital requirements. David Riley, Project Manager for and the Office of Thrift Supervision are Capital Policy, Supervision Policy, setting forth for industry comment their Timetable: Department of the Treasury, Office of current views on a proposed framework Action Date FR Cite Thrift Supervision, 1700 G Street NW., for implementing the New Basel Capital Washington, DC 20552 Accord in the United States. In ANPRM 08/04/03 68 FR 45900 Phone: 202 906–6669 particular, this advance notice of ANPRM Comment 11/03/03 Related RIN: proposed rulemaking (ANPRM) Period End Related to 1550–AB11 describes significant elements of the NPRM 12/00/04 RIN: 1550–AB56 Advanced Internal Ratings-Based
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Department of the Treasury (TREAS) Final Rule Stage Office of Thrift Supervision (OTS)
2919. COMMUNITY REINVESTMENT Phone: 202 906–7409 Action Date FR Cite ACT Theresa A. Stark, Project Manager, Interim Final Rule 10/01/03 Priority: Substantive, Nonsignificant Compliance Policy, Department of the Effective Legal Authority: Not Yet Determined Treasury, Office of Thrift Supervision, Interim Final Rule 11/17/03 1700 G Street NW., Washington, DC Comment Period CFR Citation: None End 20552 Legal Deadline: None Applicability Date 04/26/04 69 FR 22382 Phone: 202 906–7054 Extended Abstract: The OCC, Board, FDIC, and Final Rule 07/00/04 OTS did a review of the agencies’ Celeste Anderson, Program Analyst, Community Reinvestment Act (CRA) Compliance Policy, Department of the Regulatory Flexibility Analysis regulations. The agencies issued a joint Treasury, Office of Thrift Supervision, Required: No advance notice of proposed rulemaking 1700 G Street NW., Washington, DC Government Levels Affected: (ANPRM) seeking public comment on 20552 Undetermined a wide range of questions as part of Phone: 202 906–7990 Federalism: Undetermined the review. RIN: 1550–AB48 Agency Contact: Christine Smith, The agencies issued a joint notice of Project Manager for Supervision Policy, proposed rulemaking, following their 2920. RISK–BASED CAPITAL Department of the Treasury, Office of review of the CRA regulations which GUIDELINES; CAPITAL GUIDELINES; Thrift Supervision, 1700 G Street NW., included an analysis of about 400 CAPITAL MAINTENANCE: INTERIM Washington, DC 20552 comments received on the ANPRM. CAPITAL TREATMENT OF Phone: 202 906–5740 The comments reflected a general CONSOLIDATED ASSET–BACKED consensus that fundamental elements of COMMERCIAL PAPER PROGRAM Karen Osterloh, Special Counsel, the regulations are sound, but indicated ASSETS Department of the Treasury, Office of a profound split over the need for, and Thrift Supervision, 1700 G Street NW., appropriate direction of, change. In an Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is Washington, DC 20552 effort to keep pace with changes in the Phone: 202 906–6639 financial services industry, the agencies undetermined. proposed changes to the CRA in two Legal Authority: 12 USC 1462; 12 USC RIN: 1550–AB79 areas: 1) to reduce burden, it would 1462a; 12 USC 1463; 12 USC 1464; 12 raise the asset threshold for being a USC 1467a; 12 USC 1828 (note) 2921. • PROPER DISPOSAL OF ‘‘small institution’’ from $250 million CFR Citation: 12 CFR 567 CONSUMER INFORMATION UNDER to $500 million and drop the holding Legal Deadline: None THE FAIR AND ACCURATE CREDIT company test; and 2) to address abusive TRANSACTIONS ACT OF 2003 lending practices, it would provide for Abstract: The Office of the Comptroller Priority: taking into account inassessing an of the Currency, Board of Governors of Substantive, Nonsignificant institution’s CRA performance, the Federal Reserve System, Federal Legal Authority: 15 USC 1681s; 15 USC evidence that the institution (or any of Deposit Insurance Corporation, and 1681w the institution’s affiliates the loans of Office of Thrift Supervision are CFR Citation: 12 CFR 568; 12 CFR 570; which are considered) has engaged in amending their risk-based capital 12 CFR 571 specified discriminatory, illegal, or standards by providing an interim abusive credit practices in connection capital treatment for assets in asset- Legal Deadline: Final, Statutory, with certain loans. backed commercial paper (ABCP) December 4, 2004. In accordance with section 216(a) of the Timetable: programs that are consolidated onto the balance sheets of sponsoring banking Fair and Accurate Credit Transactions Action Date FR Cite organizations as a result of a recently Act of 2003 (15 U.S.C. 1681w(a)(1)), the Federal banking agencies, NCUA, FTC, Joint ANPRM 07/19/01 66 FR 37602 issued accounting interpretation, FIN and SEC must each issue regulations Joint ANPRM 10/17/01 46. The interim capital treatmentallows Comment Period sponsoring banking organizations to requiring proper disposal of End remove the consolidated ABCP program information derived from consumer NPRM 02/06/04 69 FR 5729 assets from their risk-weighted asset reports, after consulting and NPRM Comment 04/06/04 bases for the purpose of calculating coordinating with each other to Period End their risk-based capital ratios. In promoteconsistency. The agencies must Final Rule 08/00/04 addition, any minority interests in assure that the regs. are consistent with ABCP programs that are consolidated the Gramm-Leach-Bliley Act and other Regulatory Flexibility Analysis Federal law. Final regs. must be issued Required: Undetermined as a result of FIN 46 are to be excluded from sponsoring banking organizations’ by December 4, 2004. Government Levels Affected: None minority interest component of tier 1 Abstract: The Office of the Comptroller Agency Contact: Richard Bennett, capital and, thereby, from total risk- of the Currency, Office of Thrift Counsel (Banking and Finance), based capital. Supervision, Federal Reserve Board, Regulations and Legislation Division, Timetable: and Federal Deposit Insurance Department of the Treasury, Office of Corporation are requesting comment on Thrift Supervision, 1700 G Street NW., Action Date FR Cite a proposal to implement section 216 of Washington, DC 20552 Interim Final Rule 10/01/03 68 FR 56530 the Fair and Accurate Credit
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TREAS—OTS Final Rule Stage
Transactions Act of 2003 by amending 2922. • FAIR CREDIT REPORTING eligility, or continued eligibility, for the Interagency Guidelines Establishing MEDICAL INFORMATION credit. Standards for Safeguarding Customer REGULATIONS In addition, section 411(b) of the FACT Information. The proposal would Priority: Substantive, Nonsignificant require each financial institution to Act adds a new section 603(d)(3) to the develop, implement, and maintain Legal Authority: 15 USC 1681s; 15 USC FCRA to restrict the sharing of medical appropriate measures to properly 1681w information and related lists or dispose of consumer information CFR Citation: 12 CFR 571 descriptions with affiliates. derived from consumer reports to Legal Deadline: Timetable: address the risks associated with Final, Statutory, June identity theft. Each institution would 4, 2004. Action Date FR Cite be required to implement these Creditors may not use a consumer’s NPRM 04/28/04 69 FR 23380 measures as part of its information medical information to make credit NPRM Comment 05/28/04 security program. determinations, except in accordance with the Fair and Accurate Credit Period End Timetable: Transactions Act of 2003 (FACT Act). Final Rule 07/00/04 In accordance with section 411 of the Action Date FR Cite Regulatory Flexibility Analysis FACT Act (15 U.S.C. 1681b(g)(5)(A) and NPRM 06/08/04 69 FR 31913 Required: No Final Rule 12/00/04 (g)(5)(B), the Federal banking agencies and the NCUA must, after notice and Small Entities Affected: No Regulatory Flexibility Analysis comment, issue regulations on Required: No necessary and appropriate access by Government Levels Affected: None Government Levels Affected: None creditors to medical information. Final Agency Contact: Cindy Baltierra, Agency Contact: Lewis C. Angel, regulations must be issued by June 4, 2004. Program Analyst, Compliance Policy, Senior Project Manager, Department of Department of the Treasury, Office of the Treasury, Office of Thrift Abstract: The Office of the Comptroller Thrift Supervision, 1700 G Street NW., Supervision, 1700 G Street NW., of the Currency, Federal Reserve Board, Washington, DC 20552 Washington, DC 20552 Federal Deposit Insurance Corporation, Phone: 202 906–6540 Phone: 202 906–5645 Office of Thrift Supervision, and National Credit Union Administration Richard Bennett, Counsel (Banking and Richard Bennett, Counsel (Banking and are publishing for comment proposed Finance), Regulations and Legislation Finance), Regulations and Legislation regulations implementing section 411 Division, Department of the Treasury, Division, Department of the Treasury, of the Fair and Accurate Credit Office of Thrift Supervision, 1700 G Office of Thrift Supervision, 1700 G Transactions Act of 2003 (FACT Act). Street NW., Washington, DC 20552 Street NW., Washington, DC 20552 The FACT Act substantially amends the Phone: 202 906–7409 Phone: 202 906–7409 Fair Credit Reporting Act (FCRA), 15 U.S.C. 1681 et seq. Section 411(a) of Paul Robin, Special Counsel, Paul Robin, Special Counsel, the FACT Act adds a new section Department of the Treasury, Office of Department of the Treasury, Office of 603(g)(1) to the FCRA to prohibit Thrift Supervision, 1700 G Street NW., Thrift Supervision, 1700 G Street NW., creditors from obtaining or using Washington, DC 20552 Washington, DC 20552 medical information pertaining to a Phone: 202 906–6648 Phone: 202 906–6648 consumer in connection with any RIN: 1550–AB87 determination of the consumer’s RIN: 1550–AB88
Department of the Treasury (TREAS) Long-Term Actions Office of Thrift Supervision (OTS)
2923. FAIR CREDIT REPORTING Agency Contact: Cindy Baltierra 2924. • INTERAGENCY PROPOSAL TO Priority: Substantive, Nonsignificant Phone: 202 906–6540 CONSIDER ALTERNATIVE FORMS OF PRIVACY NOTICES UNDER THE CFR Citation: 12 CFR 571 Paul Robin GRAMM–LEACH–BLILEY ACT Timetable: Phone: 202 906–6648 Priority: Substantive, Nonsignificant. Action Date FR Cite RIN: 1550–AB33 Major status under 5 USC 801 is undetermined. NPRM 10/20/00 65 FR 63120 NPRM Comment 12/04/00 Unfunded Mandates: Undetermined Period End Legal Authority: Not Yet Determined NPRM Update 03/27/01 66 FR 16624 Second NPRM To Be Determined CFR Citation: None Regulatory Flexibility Analysis Legal Deadline: None Required: No Abstract: The Office of the Comptroller Government Levels Affected: None of the Currency, Office of Thrift
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TREAS—OTS Long-Term Actions
Supervision, Federal Reserve Board, such as a short privacy notice, that Government Levels Affected: Federal Deposit Insurance Corporation, would be easier for consumers to Undetermined National Credit Union Administration, understand. Federal Trade Commission, Commodity Federalism: Undetermined Futures Trading Commission, and Timetable: Agency Contact: Cindy Baltierra, Securities and Exchange Commission Action Date FR Cite (the Agencies) are requesting comment Program Analyst, Compliance Policy, ANPRM 12/30/03 68 FR 75164 on whether the Agencies should Department of the Treasury, Office of ANPRM Comment 03/29/04 consider amending the regulations that Thrift Supervision, 1700 G Street NW., Period End Washington, DC 20552 implement sections 502 and 503 of the Next Action Undetermined Gramm-Leach-Bliley Act to allow or Phone: 202 906–6540 require financial institutions to provide Regulatory Flexibility Analysis RIN: 1550–AB86 alternative types of privacy notices, Required: Undetermined
Department of the Treasury (TREAS) Completed Actions Office of Thrift Supervision (OTS)
2925. RISK–BASED CAPITAL 2926. • ASSESSMENTS AND FEES Timetable: GUIDELINES; CAPITAL ADEQUACY Action Date FR Cite GUIDELINES; CAPITAL Priority: Substantive, Nonsignificant MAINTENANCE: ASSET–BACKED NPRM 02/10/04 69 FR 6201 Legal Authority: 12 USC 1462a; 12 COMMERCIAL PAPER PROGRAMS NPRM Comment 03/26/04 USC1463; 12 USC1467; 12 USC 1467(a) AND EARLY AMORTIZATION Period End PROVISIONS CFR Citation: 12 CFR 502 Final Rule 05/28/04 69 FR 30554 Priority: Substantive, Nonsignificant. Final Rule Effective 07/01/04 Legal Deadline: None Major status under 5 USC 801 is Regulatory Flexibility Analysis undetermined. Abstract: The Office of Thrift Required: Yes CFR Citation: 12 CFR 567 Supervision (OTS) is proposing to amend its rules on assessments and Small Entities Affected: Businesses Completed: fees. The proposed rule would replace Government Levels Affected: None Reason Date FR Cite examination fees for savings and loan NPRM 10/01/03 68 FR 56568 holding companies (SLHCs) with Agency Contact: Linda Duzick, Merged With 06/09/04 semiannual assessments on top-tier Financial Analyst, Department of the 1550–AB79 SLHCs. OTS would charge a base Treasury, Office of Thrift Supervision, Regulatory Flexibility Analysis assessment amount on all top-tier 1700 G Street NW., Washington, DC Required: No SLHCs, and would add up to three 20552 additional components to this base Phone: 202 906–6639 Government Levels Affected: amount. Undetermined Karen Osterloh, Special Counsel, Federalism: Undetermined OTS also proposes to amend the Department of the Treasury, Office of existing rules governing the calculation Thrift Supervision, 1700 G Street NW., Agency Contact: Christine Smith of savings association semiannual Washington, DC 20552 Phone: 202 906–5740 assessments. Specifically, OTS Phone: 202 906–6639 proposes to eliminate the alternative Karen Osterloh calculation for the asset size component RIN: 1550–AB89 Phone: 202 906–6639 currently available to small ‘‘qualifying [FR Doc. 04–12836 Filed 06–25–04; 8:45 am] Related RIN: Related to 1550–AB79 savings associations.’’ BILLING CODE 6720–01–S RIN: 1550–AB81
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