Monday, December 13, 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 DHS, where it is now of the Treasury. Because of limitations known as the Bureau of Customs and in the computer software used to 31 CFR Subtitle A, Chs. I and II Border Protection. Notwithstanding the prepare the agenda, the agency transfer of the Customs Service to DHS, information under the heading ‘‘For Semiannual Agenda and Fiscal Year the Act provides that the Secretary of Further Information Contact’’ for these 2005 Regulatory Plan the Treasury retains sole legal authority regulations incorrectly indicates the AGENCY: Department of the Treasury. over the customs revenue functions, and Bureau of Customs and Border authorizes the Secretary to delegate any Protection contact person is an ACTION: Semiannual regulatory agenda of this retained authority to the employee of the Department of the and annual regulatory plan. Secretary of Homeland Security. By Treasury rather than the Department of Treasury Department Order No. 100-16, Homeland Security. the Secretary of the Treasury delegated SUMMARY: This notice is given pursuant The semiannual agenda of the to the requirements of the Regulatory to the Secretary of Homeland Security authority to prescribe regulations Department of the Treasury conforms to Flexibility Act (Pub. L. 96-354, the Unified Agenda format developed September 19, 1980) and Executive pertaining to the customs revenue functions. This Order further provided by the Regulatory Information Service Order (E.O.) 12866 (‘‘Regulatory Center (RISC). Planning and Review,’’ September 30, that the Secretary of the Treasury 1993), which require the publication by retained the sole authority to approve For this edition of Treasury’s the Department of a semiannual agenda any such regulations concerning import regulatory agenda, one regulation of the of regulations. E.O. 12866 also requires quotas or trade bans; user fees; marking Office of the Comptroller of the the publication by the Department of a and labeling; copyright and trademark Currency is included in The Regulatory regulatory plan for fiscal year 2005. enforcement; and the completion of Plan, which appears in part II of this entry or substance of entry summary, issue of the Federal Register. This entry FOR FURTHER INFORMATION CONTACT: The including duty assessment and is listed in the table of contents below Agency Contact identified in the item collection, classification, valuation, and is denoted by a bracketed bold relating to that regulation. application of the U.S. Harmonized reference, which directs the reader to SUPPLEMENTARY INFORMATION: On Schedules, eligibility or requirements the appropriate sequence number in November 25, 2002, the President for preferential trade programs, and the part II. signed the Homeland Security Act of establishment of recordkeeping 2002 (the Act), establishing the requirements. Accordingly, these Dated: October 28, 2004. Department of Homeland Security regulations are now listed in the Richard S. Carro, (DHS). The Act transferred the U.S. semiannual regulatory agenda of the Senior Advisor to the General Counsel for Customs Service from the Department of Departmental Offices of the Department Regulatory Affairs. Departmental Offices—Proposed Rule Stage

Regulation Sequence Title Identifier Number Number

2382 Amendments to the Government Securities Act Regulations: Exemption for Holdings Subject to Fiduciary Stand- ards ...... 1505–AB06 2383 Terrorism Risk Insurance Program; Additional Claims Issues ...... 1505–AB09 2384 Terrorism Risk Insurance Program; Recoupments of Federal Share of Compensation for Insured Losses ...... 1505–AB10 2385 19 CFR 111 Remote Location Filing ...... 1505–AB20 2386 Uniform Rules of Origin ...... 1505–AB49 2387 Recordation of Copyrights and Enforcement Procedures To Prevent Importation of Piratical Articles ...... 1505–AB51 2388 Revision of Outbound Redelivery Procedures and Liabilities ...... 1505–AB52 2389 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

2390 31 CFR 501 Reporting and Procedures Regulations; Cuban Assets Control Regulations: Publication of Economic Sanctions Enforcement Guidelines ...... 1505–AA95 2391 Country-of-Origin Marking...... 1505–AB21 2392 Expanded Methods of Payment of Duties, Taxes, Interest, and Fees ...... 1505–AB22 2393 19 CFR 4 User and Navigation Fees; Other Reimbursable Charges ...... 1505–AB24 2394 19 CFR 10 African Growth and Opportunity Act and Generalized System of Preferences ...... 1505–AB26 2395 Expanded Weekly Entry Procedure for Foreign Trade Zones ...... 1505–AB27 2396 19 CFR 10 United States-Caribbean Basin Trade Partnership Act and Caribbean Basin Initiative ...... 1505–AB28

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TREAS

Departmental Offices—Final Rule Stage (Continued)

Regulation Sequence Title Identifier Number Number

2397 19 CFR 24 Reimbursable Customs Inspectional Services—Increase in Hourly Rate Charge ...... 1505–AB29 2398 19 CFR 12 Dog and Cat Protection Act ...... 1505–AB31 2399 19 CFR 10 Prototypes Used Solely For Product Development, Testing, Evaluation, or Quality Control Purposes ... 1505–AB32 2400 19 CFR 10 Preferential Treatment of Brassieres Under the United States-Caribbean Basin Trade Partnership Act 1505–AB33 2401 19 CFR 141 Single Entry for Unassembled or Disassembled Entities Imported on Multiple Conveyances ...... 1505–AB34 2402 19 CFR 10 Implementation of the Andean Trade Promotion and Drug Eradication Act ...... 1505–AB37 2403 Trade Benefits Under the African Growth and Opportunity Act ...... 1505–AB38 2404 19 CFR 24 Fees for Customs Processing at Express Courier Facilities ...... 1505–AB39 2405 Trade Benefits Under the Caribbean Basin Economic Recovery Act ...... 1505–AB40 2406 Tariff Treatment Related to Disassembly Operations Under the North American Free Trade Agreement (NAFTA) .. 1505–AB41 2407 Merchandise Processing Fees Eligible to be Claimed as Certain Types of Drawback Based on Substitution of Fin- ished Petroleum Derivatives ...... 1505–AB44 2408 19 CFR 10 United States—Chile Free Trade Agreement ...... 1505–AB47 2409 19 CFR 10 United States—Singapore Free Trade Agreement ...... 1505–AB48

Departmental Offices—Long-Term Actions

Regulation Sequence Title Identifier Number Number

2410 31 CFR ch II Possible Regulation of Access to Accounts at Financial Institutions Through Payment Service Pro- viders ...... 1505–AA74 2411 Financial Activities of Financial Subsidiaries ...... 1505–AA80 2412 Financial Subsidiaries...... 1505–AA81 2413 12 CFR 1501.2 Secretary’s Determination of Real Estate Brokerage ...... 1505–AA84 2414 12 CFR 1501.2 Secretary’s Determination of Other Activities Financial in Nature ...... 1505–AA85 2415 19 CFR 4 Harbor Maintenance Fee ...... 1505–AB11 2416 Donated Cargo Exemption From Harbor Maintenance Fee ...... 1505–AB12 2417 19 CFR 142 Reconciliation ...... 1505–AB16 2418 19 CFR 181 North American Free Trade Agreement (NAFTA)—Implementation of Duty-Deferral Program Provi- sions ...... 1505–AB17

Departmental Offices—Completed Actions

Regulation Sequence Title Identifier Number Number

2419 12 CFR 1806 Bank Enterprise Award (BEA) Program ...... 1505–AA91 2420 12 CFR 1805 Community Development Financial Institutions (CDFI) Program ...... 1505–AA92 2421 17 CFR 403.4 Amendments to the Government Securities Act Regulations: Customer Protection-Reserves and Custody of Securities ...... 1505–AA94 2422 31 CFR 1.8 to 1.12 Disclosure of Records in Litigation ...... 1505–AA97 2423 Terrorism Risk Insurance Program; Initial Claims Procedure Requirements ...... 1505–AB07 2424 Terrorism Risk Insurance Program; Litigation Management ...... 1505–AB08 2425 Textiles and Textile Products Subject to Textile Trade Agreements ...... 1505–AB13 2426 Liquidation; Extension; Suspension ...... 1505–AB14 2427 19 CFR 12 Detention, Seizure, and Forfeiture of ‘‘Bootleg’’ Sound Recording and Music Videos of Live Musical Performances ...... 1505–AB15 2428 19 CFR 12 Entry of Softwood Lumber Shipments From Canada ...... 1505–AB18 2429 Entry of Softwood Lumber Shipments From Canada ...... 1505–AB23

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TREAS

Financial Crimes Enforcement Network—Prerule Stage

Regulation Sequence Title Identifier Number Number

2430 Customer Identification Programs for Pawn Brokers ...... 1506–AA39

Financial Crimes Enforcement Network—Proposed Rule Stage

Regulation Sequence Title Identifier Number Number

2431 31 CFR 103 Amendment to the Bank Secrecy Act Regulations—Delegation of Authority To Assess Civil Money Penalties on Depository Institutions ...... 1506–AA08 2432 Customer Identification Programs for Travel Agents ...... 1506–AA38 2433 Customer Identification Programs for Loan and Finance Companies ...... 1506–AA40 2434 Customer Identification Programs for Sellers of Vehicles ...... 1506–AA41 2435 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Travel Agencies ...... 1506–AA69 2436 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Loan and Finance Companies ...... 1506–AA73 2437 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Per- sons Involved in Real Estate Closings and Settlements ...... 1506–AA79 2438 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

2439 31 CFR 103 Amendment to the Bank Secrecy Act Regulations Regarding Reporting of Cross-Border Transpor- tation of Certain Monetary Instruments ...... 1506–AA15 2440 31 CFR 103 Amendment to the Bank Secrecy Act Regulations—Exemptions From the Requirement To Report Transactions in Currency ...... 1506–AA23 2441 31 CFR 103.30 Amendment to the Bank Secrecy Act Regulations—Requirement that Nonfinancial Trades or Businesses Report Certain Currency Transactions ...... 1506–AA25 2442 31 CFR 103.175-103.178 Due Diligence Requirements for Correspondent Accounts and Private Banking Ac- counts ...... 1506–AA29 2443 31 CFR 103.121 Customer Identification Programs for Banks, Savings Associations, and Credit Unions ...... 1506–AA31 2444 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 2445 31 CFR 103.15 Amendment to the Bank Secrecy Act Regulations—Requirement That Mutual Funds Report Sus- picious Transactions ...... 1506–AA37 2446 31 CFR 103.184 Imposition of Special Measures Against the Country of Nauru ...... 1506–AA43 2447 Financial Crimes Enforcement; Amendments to the Bank Secrecy Act Regulations—Nomenclature Changes ...... 1506–AA61 2448 Imposition of Special Measures Against the Commercial Bank of Syria as a Financial Institution of Primary Money Laundering Concern ...... 1506–AA64 2449 Imposition of Special Measure Against First Merchant Bank OSH Ltd, Incl. its Subsidiaries, FMB Finance Ltd, First Merchant International Inc, First Merchant Finance Ltd, and First Merchant Trust Ltd ...... 1506–AA65 2450 Imposition of Special Measure against Infobank as a Financial Institution of Primary Money Laundering Concern .. 1506–AA67 2451 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Mutual Funds ...... 1506–AA68 2452 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Insur- ance Companies ...... 1506–AA70 2453 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Invest- ment Advisors ...... 1506–AA71 2454 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Finan- cial Institutions ...... 1506–AA72 2455 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

2456 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Com- modity Trading Advisors ...... 1506–AA75 2457 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 2458 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Unreg- istered Investment Companies ...... 1506–AA77 2459 31 CFR 103.65 Amendments to the Bank Secrecy Act Regulations—Anti-Money Laundering Programs for Deal- ers in Precious Metals, Stones, or Jewels ...... 1506–AA78

Financial Crimes Enforcement Network—Long-Term Actions

Regulation Sequence Title Identifier Number Number

2460 31 CFR 103 Amendments to the Bank Secrecy Act Regulations—Special Reporting and Recordkeeping Require- ments—Money Services Businesses (MSBs) ...... 1506–AA19

Financial Management Service—Proposed Rule Stage

Regulation Sequence Title Identifier Number Number

2461 31 CFR 245 Claims on Account of Treasury Checks ...... 1510–AA51

Financial Management Service—Final Rule Stage

Regulation Sequence Title Identifier Number Number

2462 31 CFR 256 Payments Under Judgment and Private Relief Acts ...... 1510–AA52 2463 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 2464 31 CFR 285.7 Salary Offset ...... 1510–AA70 2465 31 CFR 285.8 Offset of Tax Refund Payment To Collect State Income Tax Obligations ...... 1510–AA78 2466 31 CFR 901.9 Federal Claims Collection Standard—Collection by Installments ...... 1510–AA91 2467 Indorsement and Payment of Checks Drawn on the U.S. Treasury ...... 1510–AA99 2468 Federal Government Participation in the ACH ...... 1510–AB00 2469 Payment of Federal Taxes and the Treasury Tax and Loan Program ...... 1510–AB01

Financial Management Service—Long-Term Actions

Regulation Sequence Title Identifier Number Number

2470 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 2471 31 CFR 285.14 Public Dissemination of Identity of Delinquent Debtors ...... 1510–AA72 2472 31 CFR 223 Surety Bond Reimbursement Fund ...... 1510–AA85

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TREAS

Financial Management Service—Completed Actions

Regulation Sequence Title Identifier Number Number

2473 31 CFR 281 Foreign Exchange Operations ...... 1510–AA48 2474 31 CFR 206 Management of Federal Agency Receipts and Disbursements; Operation of the Cash Management Improvement Fund ...... 1510–AA86 2475 31 CFR 215 Withholding of District of Columbia, State, City, and County Income, or Employment Taxes by Fed- eral Agencies ...... 1510–AA90 2476 Payment of Federal Taxes and the Treasury Tax and Loan Program ...... 1510–AA96 2477 Federal Government Participation in the Automated Clearing House (ACH) ...... 1510–AA97 2478 Federal Government Participation in the Automated Clearing House (ACH) ...... 1510–AA98

Alcohol and Tobacco Tax and Trade Bureau—Proposed Rule Stage

Regulation Sequence Title Identifier Number Number

2479 27 CFR 4 Prohibition of Alcohol Beverage Containers and Standard of Fill for Distilled Spirits and Wine ...... 1513–AA07 2480 Availability of Information ...... 1513–AA98 2481 27 CFR 270 Determination of Tax and Recordkeeping on Large Cigars ...... 1513–AA16 2482 27 CFR 19, subpart W Proposed Revisions to the Distilled Spirits Plant Regulations ...... 1513–AA23 2483 27 CFR 44 Regulatory Changes From Customs Service Final Rule ...... 1513–AA26 2484 27 CFR 40 Shipments of Tobacco Products or Cigarette Papers or Tubes Without Payment of Tax ...... 1513–AA27 2485 27 CFR 17 Tax-Paid Distilled Spirits Used in Manufacturing Products Unfit for Beverage Use ...... 1513–AA37 2486 27 CFR 4 Proposed Addition of New Grape Variety Names for American Wines ...... 1513–AA42 2487 27 CFR 40 Marks, Labels, Notices and Bonds for, and Removal of, Tobacco Products, and Cigarette Papers and Tubes ...... 1513–AA49 2488 27 CFR 9 Petition To Establish ‘‘Santa Maria Bench’’ as a New American Viticultural Area ...... 1513–AA51 2489 27 CFR 40 In-Transit Stops of Tobacco Products, and Cigarette Papers and Tubes Without Payment of Tax ...... 1513–AA52 2490 27 CFR 9 Petition To Expand the Livermore Valley Viticultural Area ...... 1513–AA54 2491 27 CFR 9 San Francisco Bay and Central Coast Viticultural Areas—Boundary Realignment/Expansion ...... 1513–AA55 2492 Petition To Establish the ‘‘Fort Ross Seaview’’ Viticultural Area ...... 1513–AA64 2493 27 CFR 9 Petition To Establish ‘‘Grand Lake O’ the Cherokees’’ as a New American Viticultural Area ...... 1513–AA66 2494 Petition No. 2 To Expand the Russian River Valley Viticultural Area ...... 1513–AA67 2495 Petition To Establish the ‘‘Shawnee Hills’’ Viticultural Area ...... 1513–AA70 2496 Proposed Amended Boundaries for the Santa Lucia Highlands and the Arroyo Seco Viticultural Area ...... 1513–AA72 2497 Petition To Establish ‘‘Texoma’’ as a Viticultural Area ...... 1513–AA77 2498 Petition To Establish the ‘‘High Valley’’ Viticultural Area ...... 1513–AA79 2499 Proposed Establishment of Alta Mesa Viticultural Area ...... 1513–AA82 2500 Proposed Establishment of the Cosumnes River Viticultural Area ...... 1513–AA83 2501 Proposed Establishment of Deer Creek Hills Viticultural Area ...... 1513–AA84 2502 Proposed Establishment of Mokelumne River Viticultural Area ...... 1513–AA85 2503 Proposed Establishment of Jahant Viticultural Area ...... 1513–AA86 2504 Proposed Establishment of Borden Ranch Viticultural Area ...... 1513–AA87 2505 Proposed Establishment of Clements Hills Viticultural Area ...... 1513–AA88 2506 Proposed Establishment of the Mt. Oso Viticultural Area ...... 1513–AA89 2507 Proposed Establishment of Covelo Viticultural Area ...... 1513–AA90 2508 Proposed Establishment of Horse Heaven Hills ...... 1513–AA91 2509 Petition to Establish ‘‘Calistoga’’ as an American Viticultural Area ...... 1513–AA92 2510 Ramona Valley Viticultural Area ...... 1513–AA94 2511 Dos Rios Viticultural Area ...... 1513–AA95 2512 Niagara Escarpment Viticultural Area ...... 1513–AA97

Alcohol and Tobacco Tax and Trade Bureau—Final Rule Stage

Regulation Sequence Title Identifier Number Number

2513 27 CFR 9 Petition To Establish ‘‘Alexandria Lakes’’ as a New American Viticultural Area ...... 1513–AA45

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TREAS

Alcohol and Tobacco Tax and Trade Bureau—Final Rule Stage (Continued)

Regulation Sequence Title Identifier Number Number

2514 Administrative Changes to Alcohol, Tobacco, and Firearms Regulations Due to the Homeland Security Act of 2002 ...... 1513–AA80 2515 Removal of Tobacco Products and Cigarette Papers and Tubes, Without Payment of Tax, for United States Use in Law Enforcement Activities ...... 1513–AA99 2516 27 CFR 275 Implementation of Public Law 105-33, Section 9302, Requiring the Qualification of Tobacco Product Importers and Miscellaneous Technical Amendments ...... 1513–AA10 2517 27 CFR 7 Flavored Malt Beverages and Related Proposals ...... 1513–AA12 2518 27 CFR 31 Liquor Dealers; Recodification of Regulations ...... 1513–AA19 2519 27 CFR 24 Production of Dried Fruit and Honey Wines ...... 1513–AA21 2520 27 CFR 9 Petition To Establish the ‘‘Trinity Lake’’ Viticultural Area ...... 1513–AA29 2521 27 CFR 4 Proposal To Recognize Synonyms for Petite Sirah and Zinfandel Grape Varieties ...... 1513–AA32 2522 27 CFR 9 Petition for the Establishment of ‘‘Red Hill’’ as an American Viticultural Area ...... 1513–AA39 2523 27 CFR 9 Petition To Establish ‘‘Eola Hills’’ as a New American Viticultural Area ...... 1513–AA41 2524 27 CFR 4 Organic Claims in Labeling and Advertising of Alcohol Beverages ...... 1513–AA46 2525 27 CFR 9 Petition To Establish ‘‘Dundee Hills’’ as a New American Viticultural Area ...... 1513–AA50 2526 27 CFR 9 Petition To Establish ‘‘Chehalem Mountains’’ as a New American Viticultural Area ...... 1513–AA57 2527 27 CFR 9 Petition To Establish ‘‘Ribbon Ridge’’ as a New American Viticultural Area ...... 1513–AA58 2528 27 CFR 9 Petition To Establish ‘‘Yamhill-Carlton District’’ as a New American Viticultural Area ...... 1513–AA59 2529 27 CFR 7 Labeling and Advertising of Malt Beverages ...... 1513–AA60 2530 Petition To Establish ‘‘McMinnville’’ as an American Viticultural Area in Oregon ...... 1513–AA63 2531 Petition To Establish ‘‘Southern Oregon’’ as a Viticultural Area ...... 1513–AA75 2532 Materials Authorized for the Treatment of Wine and Juice; Processes Authorized for the Treatment of Wine, Juice, and Distilling Material ...... 1513–AA96

Alcohol and Tobacco Tax and Trade Bureau—Long-Term Actions

Regulation Sequence Title Identifier Number Number

2533 27 CFR 252 Exportation of Liquors ...... 1513–AA00 2534 27 CFR 24.278 Implementation of Wine Credit Provisions of Public Law 104-188 ...... 1513–AA05 2535 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 2536 27 CFR 4 Amended Standard of Identity for Sherry ...... 1513–AA08 2537 27 CFR 275 Prohibited Marks on Packages of Tobacco Products and Cigarette Papers and Tubes Imported or Brought into the United States ...... 1513–AA14

Alcohol and Tobacco Tax and Trade Bureau—Completed Actions

Regulation Sequence Title Identifier Number Number

2538 27 CFR 7 Revision of Brewery Regulations and Issuance of Regulations for Taverns on Brewery Premises (Brewpubs) ...... 1513–AA02 2539 27 CFR 4.32(d) Removal of Requirement To Disclose Saccharin in the Labeling of Wine, Distilled Spirits, and Malt Beverages ...... 1513–AA15 2540 27 CFR 275 Tobacco Products and Cigarette Papers and Tubes Shipped from Puerto Rico to the United States .. 1513–AA17 2541 27 CFR 270 Elimination of Statistical Classes for Large Cigars ...... 1513–AA18 2542 27 CFR 41 Importation of Tobacco Products and Cigarette Papers and Tubes; Recodification of Regulations ...... 1513–AA20 2543 27 CFR 9 Petition To Establish the ‘‘Santa Barbara Highlands’’ Viticultural Area ...... 1513–AA24 2544 27 CFR 9 Proposed ‘‘San Bernabe’’ Viticultural Area ...... 1513–AA28 2545 27 CFR 9 Petition To Establish ‘‘Red Hills Lake County’’ American Viticultural Area ...... 1513–AA33 2546 31 CFR 8 Eliminate Requirement To Enroll To Practice Before the Bureau ...... 1513–AA62 2547 Petition To Establish the ‘‘Alexander Mountain’’ Viticultural Area ...... 1513–AA65 2548 Petition To Establish the ‘‘Salado Creek’’ Viticultural Area ...... 1513–AA69 2549 Removal of Requirement To Disclose Saccharin in the Labeling of Wine, Distilled Spirits, and Malt Beverage ...... 1513–AA93

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TREAS

Comptroller of the Currency—Proposed Rule Stage

Regulation Sequence Title Identifier Number Number

2550 Recordkeeping Requirements for Bank Exceptions From Securities Broker or Dealer Registration ...... 1557–AB93 2551 12 CFR 25 Community Reinvestment Act Regulation (12 CFR 25) ...... 1557–AB98 2552 12 CFR 4 Rules, Policies, and Procedures for Corporate Activities; Licensing Procedures ...... 1557–AC79 2553 Identity Theft Detection, Prevention, and Mitigation Program for Financial Institutions and Creditors ...... 1557–AC87 2554 Implementation of a Revised Basel Capital Accord (Basel II) (Reg Plan Seq No. 113) ...... 1557–AC91 References in boldface appear in the Regulatory Plan in part II of this issue of the Federal Register.

Comptroller of the Currency—Final Rule Stage

Regulation Sequence Title Identifier Number Number

2555 Electronic Filing and Disclosure of Beneficial Ownership Reports ...... 1557–AC75 2556 Rules, Policies, and Procedures for Corporate Activities; Operating Subsidiary Annual Report ...... 1557–AC81 2557 12 CFR 19.240 Rules, Policies, and Procedures for Corporate Activities; Civil Monetary Penalties Adjustment ...... 1557–AC82 2558 12 CFR 30 app B Proper Disposal of Consumer Information ...... 1557–AC84 2559 Fair Credit Reporting Regulations; Use of Medical Information; FACT Act ...... 1557–AC85 2560 Fair Credit; Affiliate Marketing Regulations ...... 1557–AC88 2561 Securities Borrowing Transactions ...... 1557–AC90 2562 Interagency Guidance on Response Programs for Unauthorized Access to Customer Information and Customer Notice ...... 1557–AC92

Comptroller of the Currency—Long-Term Actions

Regulation Sequence Title Identifier Number Number

2563 Interagency Proposal To Consider Alternative Forms of Privacy Notices Under the Gramm-Leach-Bliley Act ...... 1557–AC80 2564 Community Reinvestment Act Regulations ...... 1557–AC86 2565 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

2566 Fair Credit Reporting Regulations ...... 1557–AB78 2567 12 CFR 19 Maintenance of Records ...... 1557–AB99 2568 12 CFR 5 Rules, Policies, and Procedures for Corporate Activities ...... 1557–AC11 2569 Risk-Based Capital; Capital Adequacy Guidelines; Capital Maintenance: Interim Capital Treatment of Consolidated Asset-Backed Commercial Paper Program Assets ...... 1557–AC76 2570 Lending Limits Pilot Program ...... 1557–AC83

Internal Revenue Service—Proposed Rule Stage

Regulation Sequence Title Identifier Number Number

2571 Foreign Insurance Companies ...... 1545–AL82 2572 Computation of a Branch’s Taxable Income; Taxation of Exchange Gain or Loss on Branch Remittances ...... 1545–AM12 2573 Outbound Transfers of Property to Foreign Corporations ...... 1545–AM97 2574 Foreign Insurance Company—Domestic Election ...... 1545–AO25 2575 Taxation of Global Trading ...... 1545–AP01 2576 Information Reporting and Record Maintenance ...... 1545–AP10 2577 Integrated Financial Transaction ...... 1545–AR20

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TREAS

Internal Revenue Service—Proposed Rule Stage (Continued)

Regulation Sequence Title Identifier Number Number

2578 Foreign Trusts Regulations ...... 1545–AR25 2579 Treatment of Dual Consolidated Losses ...... 1545–AR26 2580 Application of Attribution Rules to Foreign Trusts ...... 1545–AU91 2581 Agreements for Payment of Tax Liabilities in Installments ...... 1545–AU97 2582 Rules for Sourcing Certain Transportation Income, Space, or Ocean Activity Income, and Related Foreign Base Company Shipping Income ...... 1545–AX02 2583 Inspection of Written Determinations ...... 1545–AX40 2584 Cash or Deferred Arrangements (Temporary) ...... 1545–AX43 2585 Awarding of Costs and Certain Fees ...... 1545–AX46 2586 Highly Compensated Employee ...... 1545–AX48 2587 Modification to Section 367(a) Stock Transfer Regulations ...... 1545–AX77 2588 Definition of Passive Foreign Investment Company Under Section 1297 ...... 1545–AX78 2589 Clarification of Foreign-Based Company Sales Income Rules ...... 1545–AX91 2590 Guidance on Changes to the Laws for Corporate Estimated Taxes ...... 1545–AY22 2591 Withholding Tax on Foreign Partners’ Share of Effectively Connected Income ...... 1545–AY28 2592 Taxable Years of Controlled Foreign Corporations (CFCs) and Foreign Personal Holding Companies (FPHCs) ...... 1545–AY30 2593 Special Rules Relating to Transfers of Intangibles to Foreign Corporations ...... 1545–AY41 2594 Previously Taxed Earnings and Profits Under Subpart F ...... 1545–AY54 2595 Liabilities Assumed in Certain Corporate Transactions ...... 1545–AY74 2596 Disclosure of Returns and Return Information in Judicial and Administrative Tax Proceedings ...... 1545–AY89 2597 Transitional Relief for Qualified Intermediaries ...... 1545–AY92 2598 Transactions Involving Obligations of Consolidated Group Members ...... 1545–BA11 2599 Deductibility of Employer Contributions for Deferred Compensation ...... 1545–BA13 2600 Gasoline Tax Claims ...... 1545–BA27 2601 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 2602 Income From Sources Within Specified Possession ...... 1545–BA37 2603 Treatment of Certain Obligation-Shifting Transactions ...... 1545–BA41 2604 Multifamily Housing Bonds ...... 1545–BA45 2605 Allocation and Apportionment Rules: Guidance on Selected Issues ...... 1545–BA64 2606 Provisions Regarding Cross-Border Transactions ...... 1545–BA65 2607 Circular 230—Phase 2 Nonshelter Revisions ...... 1545–BA72 2608 Allocation of New Markets Tax Credit ...... 1545–BA84 2609 Guidance To Facilitate Electronic Tax Administration ...... 1545–BA96 2610 Timely Mailing Treatment ...... 1545–BA99 2611 Communications Excise Tax; Taxable Communication Services ...... 1545–BB04 2612 Cost Sharing...... 1545–BB26 2613 Application of Separate Limitations to Dividends From Noncontrolled Section 902 Corporation ...... 1545–BB28 2614 Amending the Low-Income Housing Tax Credit Program ...... 1545–BB37 2615 Substitute Dividend Payments in Securities Lending and Similar Transactions ...... 1545–BB56 2616 Loss Limitation Rules—General Utilities Repeal ...... 1545–BB61 2617 Safe Harbor Leasing Second Interest Capitalization ...... 1545–BB62 2618 Contributions To Purchase Certain Retirement Annuities or Custodial Accounts Under Section 403(b) ...... 1545–BB64 2619 Liquidation of an Interest ...... 1545–BB71 2620 REMIC Residuals—Timing of Income for Foreign Holders ...... 1545–BB84 2621 Predecessors or Successors Under Section 355(e) ...... 1545–BB85 2622 Dependent Care Credit ...... 1545–BB86 2623 Guidance Regarding Mark-to-Market Valuation for Certain Securities ...... 1545–BB90 2624 Partnership Equity for Services ...... 1545–BB92 2625 Determination of Single-Sum Distributions From Cash Balance Plans ...... 1545–BB93 2626 Accrual for Certain REMIC Regular Interests ...... 1545–BB94 2627 Miscellaneous Changes to Collection Due Process Procedures Relating to Notice and Opportunity for Hearing Upon Filing of Notice of Lien ...... 1545–BB96 2628 Miscellaneous Changes to Collection Due Process Procedures Relating to Hearings Before Levy ...... 1545–BB97 2629 General Allocation and Accounting Regulations ...... 1545–BC07 2630 Utility Allowance Regulation Update ...... 1545–BC22 2631 Guidance Regarding Application of Section 265(a)(2) and 246A in Transactions Involving Related Parties, Pass- Through Entities, or Other Intermediaries ...... 1545–BC24 2632 Guidance on PFIC Purging Elections ...... 1545–BC37

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TREAS

Internal Revenue Service—Proposed Rule Stage (Continued)

Regulation Sequence Title Identifier Number Number

2633 Additional Guidance Regarding Mark-to-Market Accounting for Traders in Securities and/or Commodities, Includ- ing Foreign Currency Instruments ...... 1545–BC48 2634 Stewardship Expenses...... 1545–BC52 2635 Coordination of United States and Certain Possessions Income Taxes ...... 1545–BC54 2636 Guidance Under Section 2053 Regarding Post-Death Events ...... 1545–BC56 2637 Guidance Under Section 707 Regarding Disguised Sales ...... 1545–BC63 2638 Collection After Assessment ...... 1545–BC72 2639 Below-Market Loans...... 1545–BC78 2640 Information Reporting Relating to Taxable Stock Transactions ...... 1545–BC80 2641 Definition of Loss for Purposes of the Straddle Rules ...... 1545–BC83 2642 Determination of Residency in U.S. Possessions ...... 1545–BC86 2643 Transactions Involving the Transfer of No Net Equity Value ...... 1545–BC88 2644 Payments in the Nature of Workers Compensation ...... 1545–BC89 2645 Disclosures to Subcontractors ...... 1545–BC92 2646 Revision of Section 301.6103(j)-1 for Disclosure to the Bureau of Economic Analysis, Department of Commerce ... 1545–BC93 2647 Guidance Regarding the Active Trade or Business Requirement Under Section 355(b) ...... 1545–BC94 2648 Accumulated Adjustment Account and Other Corporate Separations Under Section 355 ...... 1545–BC98 2649 Attained Age of the Insured ...... 1545–BD00 2650 Support Test in the Case of a Child of Divorced Parents ...... 1545–BD01 2651 Dual Consolidated Loss Regulations ...... 1545–BD10 2652 Current Liability Interest Rate Under Section 412(b)(5) ...... 1545–BD13 2653 Definition of Qualified Foreign Corporation ...... 1545–BD15 2654 Move and Update the Estimated Tax Regulations ...... 1545–BD17 2655 REMIC Interest-Only Regular Interests ...... 1545–BD18 2656 Escrow Accounts, Trusts, and Other Funds Used During Deferred Exchanges of Like-Kind Property ...... 1545–BD19 2657 Section 42 Qualified Contract Provisions ...... 1545–BD20 2658 Payments for Which No Return of Information is Required Under Section 6041 ...... 1545–BD21 2659 Interest on Large Corporate Underpayments Under Section 6621 (c) ...... 1545–BD22 2660 Guidance on Phased Retirement ...... 1545–BD23 2661 Definition of Disqualified Person ...... 1545–BD28 2662 Requirements for Reorganizations ...... 1545–BD31 2663 Underpayment for Qualified Amended Returns ...... 1545–BD40 2664 Application of Sections 304(b)(6) and 367 in Cross Border Section 304 Transactions ...... 1545–BD46 2665 Salary Reduction Agreement Under Section 312(a)(5)(D) (Temporary) ...... 1545–BD50 2666 HIPAA Portability: Special Enrollment Procedures, Tolling, and Interaction with FMLA ...... 1545–BD51 2667 Update of 415 Regulations ...... 1545–BD52 2668 Guidance Under Section 1502; Miscellaneous Operating Rules for Successor Persons; Applicability of Section 381 ...... 1545–BD54 2669 Aggregate Computation; Allocation of Research Credit II ...... 1545–BD60 2670 Classification of Indian Tribal Corporations ...... 1545–BD61 2671 Mandatory e-Filing for Forms 1120 ...... 1545–BD65 2672 REMIC Residuals-Foreign Holders (Temporary) ...... 1545–BD66 2673 Declaratory Judgment—Gift Tax Value ...... 1545–BD67 2674 Use of Electronic Technologies for Providing Notices and Transmitting Elections and Consents ...... 1545–BD68 2675 Disabled Access Credit ...... 1545–BD69 2676 Section 704(b)(2) and Substantiality ...... 1545–BD70 2677 Regulations Under Section 706 Regarding Taxable Year of a Partnership ...... 1545–BD71 2678 Shareholder’s Basis in Stock of an S Corporation ...... 1545–BD72 2679 Guidance Under Section 707(c) Regarding Guaranteed Payments ...... 1545–BD74 2680 Guidance Under Section 368 Regarding Mergers With and Into a Foreign Corporation ...... 1545–BD76 2681 Classification of Certain Foreign Entities ...... 1545–BD77 2682 Classification of Certain Foreign Entities (Temporary) ...... 1545–BD78 2683 Possible Update and Revision of Treasury Regulation Sections 1.381(c)(4) and (5)-1 ...... 1545–BD81 2684 Amendments to 26 CFR Section 1.263(a)-5 Regarding Treatment of Capitalized Costs ...... 1545–BD82 2685 Guidance Regarding Selected Issues Under Section 336(e) ...... 1545–BD84 2686 Guidance Under Section 79 ...... 1545–BD85 2687 Definition of the ‘‘Due Date’’ for Purposes of Calculating Overpayment Interest Under Section 301.6611(h) ...... 1545–BD86

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TREAS

Internal Revenue Service—Final Rule Stage

Regulation Sequence Title Identifier Number Number

2688 Foreign Corporations...... 1545–AK74 2689 Nonrecognition of Corporate Distributions and Reorganizations Under the Foreign Investment in Real Property Tax Act ...... 1545–AK79 2690 Registration Required Obligations ...... 1545–AP33 2691 Interest-Free Adjustments...... 1545–AQ61 2692 Definition of ‘‘Highly Compensated Employee’’ ...... 1545–AQ74 2693 Escrow Funds and Other Similar Funds ...... 1545–AR82 2694 Mark-to-Market Upon Disposition ...... 1545–AS85 2695 Straddles—-Miscellaneous Issues...... 1545–AT46 2696 Definition of Private Activity Bond—Refunding Regulations ...... 1545–AU98 2697 Return of Levied Property in Certain Cases ...... 1545–AV01 2698 Electronic Transmission of Withholding Certificates ...... 1545–AV27 2699 Mark-to-Market Accounting for Dealers in Commodities and Traders in Securities and Commodities ...... 1545–AW06 2700 Intercompany Obligations...... 1545–AW30 2701 Capital Gain Guidance Relating to CRTs ...... 1545–AW35 2702 Reporting of Payments to Attorney ...... 1545–AW72 2703 Highway Vehicle—Definition...... 1545–AX10 2704 Guidance on Cost Recovery in the Entertainment Industry ...... 1545–AX12 2705 Cash or Deferred Arrangements ...... 1545–AX26 2706 Stock Transfer Rules—Carryover of Earnings and Taxes ...... 1545–AX65 2707 Allocation and Apportionment of Interest Expense and Certain Other Expenses ...... 1545–AX72 2708 HIPAA Portability...... 1545–AX84 2709 Capitalization of Interest and Carrying Charges Properly Allocable to Straddles ...... 1545–AX92 2710 Assumption of Partnership Liabilities ...... 1545–AX93 2711 Authorized Placement Agency ...... 1545–AY18 2712 HIPAA General Nondiscrimination ...... 1545–AY32 2713 HIPAA Nondiscrimination Exception for Church Plans ...... 1545–AY33 2714 HIPAA Nondiscrimination Exception for Bona Fide Wellness Programs ...... 1545–AY34 2715 Information Reporting on Cancellation of Indebtedness ...... 1545–AY35 2716 Allocation of Income and Deductions from Intangibles ...... 1545–AY38 2717 Guidance Under Section 355(e); Recognition of Gain on Certain Distributions of Stock or Securities in Connection With an Acquisition ...... 1545–AY42 2718 Election—Asset Acquisitions of Insurance Companies ...... 1545–AY49 2719 Tax Treatment of Cafeteria Plans ...... 1545–AY67 2720 Normalization ...... 1545–AY75 2721 New Market Tax Credit ...... 1545–AY87 2722 Reductions of Accruals and Allocations Because of Increased Age ...... 1545–BA10 2723 Property Exempt from Levy ...... 1545–BA22 2724 Amendment to the Definition of Refunding ...... 1545–BA46 2725 Loss Limitation Rules ...... 1545–BA52 2726 Modification of Check the Box Regulations ...... 1545–BA59 2727 Circular 230—Tax Shelter Amendments ...... 1545–BA70 2728 Carryback of Consolidated Net Operating Losses to Separate Return Years ...... 1545–BA73 2729 Redemptions Treated as Dividends ...... 1545–BA80 2730 Reporting Requirements for Widely Held Fixed Investment Trusts ...... 1545–BA83 2731 Guidance on Reporting of Deposit Interest Paid to Nonresident Aliens ...... 1545–BA86 2732 Aggregate Computation and Allocation of Research Credit ...... 1545–BA88 2733 Designated IRS Officer or Employee ...... 1545–BA89 2734 Allocation of Foreign Tax Credits Among Partners ...... 1545–BB11 2735 Distributions of Property ...... 1545–BB12 2736 Testimony Authorizations and Requests for IRS Information ...... 1545–BB15 2737 Toll Telephone Service—Definition ...... 1545–BB18 2738 Authorization for IRS To Charge Fees For Copying Exempt Organization Returns ...... 1545–BB21 2739 Duplicative Tax Benefits ...... 1545–BB25 2740 Extension of Time for Filing Returns ...... 1545–BB29 2741 Treatment of Services Under Section 482 ...... 1545–BB31 2742 Investment Adjustment Rules and Waiver of Loss Carryovers From SRLY Years—Amended ...... 1545–BB38 2743 Limitation on Use of Nonaccrual Experience Method of Accounting ...... 1545–BB43 2744 Election Out Generation-Skipping Transfer Tax (GST) Deemed Allocations ...... 1545–BB54

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TREAS

Internal Revenue Service—Final Rule Stage (Continued)

Regulation Sequence Title Identifier Number Number

2745 Special Depreciation Allowance ...... 1545–BB57 2746 Information Reporting Relating to Taxable Stock Transactions ...... 1545–BB60 2747 Use of Government Depositaries in Connection With Tax Under the Federal Unemployment Tax Act ...... 1545–BB66 2748 Use of Government Depositaries in Connection With Tax Under the Federal Unemployment Tax Act (Temporary) 1545–BB67 2749 Qualified Interests...... 1545–BB72 2750 Collected Excise Taxes; Duties of Collector ...... 1545–BB75 2751 Guidance on Life Insurance and Annuity Contracts ...... 1545–BB77 2752 Application of Nondiscrimination Cross-Testing Rules To Cash Balance Plans ...... 1545–BB79 2753 Notional Principal Contracts; Contingent Nonperiodic Payments ...... 1545–BB82 2754 New Markets Tax Credit Amendments ...... 1545–BC03 2755 Tax Exempt Bond Partnership Reporting Regulation ...... 1545–BC04 2756 Determination of Basis of Securities Received in Exchange or With Respect to a Stock or Securities in Certain Transactions ...... 1545–BC05 2757 Entry of Taxable Fuel ...... 1545–BC08 2758 Notarization Requirement for Statements of Purchase ...... 1545–BC11 2759 Timing and Modification of the Section 59(e) Election ...... 1545–BC13 2760 Guidance Necessary To Facilitate Business Electronic Filing ...... 1545–BC15 2761 Contingent at Closing Escrows ...... 1545–BC16 2762 Changes in Computing Depreciation ...... 1545–BC18 2763 Value of Life Insurance When Distributed From a Qualified Retirement Plan ...... 1545–BC20 2764 Special Consolidated Return Rules for Interest Expense Disallowed Under Section 265(a)(2) ...... 1545–BC23 2765 Section 411(d)(6) Protected Benefits ...... 1545–BC26 2766 Single Determination of Tax for Multiple Pools of Assets of an S Corporation ...... 1545–BC29 2767 Deemed Corporate Election for Electing S Corporations ...... 1545–BC32 2768 Prohibited Allocation of Securities in an S Corporation ...... 1545–BC34 2769 Elimination of Forms of Distribution in Defined Contribution Plans ...... 1545–BC35 2770 Guidance Under Section 1502; Application of Section 108 to Members of a Consolidated Group ...... 1545–BC38 2771 Substitute for Return (SFR) and Automated Substitute for Return (ASFR) (Temporary) ...... 1545–BC46 2772 Guidance on PFIC Purging Elections ...... 1545–BC49 2773 Qualified Severance Regulations ...... 1545–BC50 2774 Suspension of Running of Period of Limitation During a Proceeding To Enforce or Quash a Designated or Related Summons ...... 1545–BC55 2775 Guarantee Fees Under Section 143(g) ...... 1545–BC59 2776 Predeceased Parent Rule ...... 1545–BC60 2777 Qualified Zone Academy Bonds; Obligations of States and Political Subdivisions ...... 1545–BC61 2778 Section 1045 Application to Partnerships ...... 1545–BC67 2779 Section 179 Elections ...... 1545–BC69 2780 Real Estate Mortgage Investment Conduit (REMIC) Tetra Rules ...... 1545–BC71 2781 Guidance Under Section 1502; Application of Section 108 to Members of a Consolidated Group ...... 1545–BC74 2782 Student FICA Guidance ...... 1545–BC81 2783 Exclusion of Employees of 501(c)(3) Organization in 401(k) and 401(m) Plans ...... 1545–BC87 2784 Guidance Under Section 1502; Application of Section 108 to Members of a Consolidated Group; Computation of Taxable Income When Section 108 Applies to a Member of a Consolidated Group ...... 1545–BC95 2785 Solid Waste Disposal Facilities ...... 1545–BD04 2786 Treatment of Foreign Stapled Corporation (Temporary) ...... 1545–BD06 2787 Deemed IRAs in Governmental Plans/Qualified Nonbank Trustee Rules ...... 1545–BD07 2788 Public Inspection of Written Determinations Under Section 6110 of the Internal Revenue Code (Temporary) ...... 1545–BD09 2789 Current Liability Interest Rate Under Section 412(b)(5) (Temporary) ...... 1545–BD14 2790 Time and Manner of Making Section 163 (d)(4)(B) Election To Treat Qualified Dividend Income as Investment In- come ...... 1545–BD16 2791 Coordination of United States and Certain Possessions Income Taxes (Temporary) ...... 1545–BD32 2792 Guidance on PFIC Purging Elections (Temporary) ...... 1545–BD33 2793 LIFO Recapture Under Section 1363(d) ...... 1545–BD34 2794 Clarification of Definitions ...... 1545–BD37 2795 Underpayment for Qualified Amended Returns (Temporary) ...... 1545–BD42 2796 Allocation and Apportionment of Deductions for Charitable Contributions (Temporary) ...... 1545–BD47 2797 Treatment of Disregarded Entities Under Section 752 ...... 1545–BD48 2798 Section 951 Pro Rata Rules ...... 1545–BD49 2799 Continuity of Interest/Stock Fluctuation ...... 1545–BD53

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TREAS

Internal Revenue Service—Final Rule Stage (Continued)

Regulation Sequence Title Identifier Number Number

2800 Manufacturer Incentive Payments in an Intercompany Transaction ...... 1545–BD55 2801 Source of Compensation for Labor or Personal Services ...... 1545–BD62 2802 Removal of Section 6661 Regulations ...... 1545–BD75 2803 Special Rules To Reduce Section 1446 Withholding (Temporary) ...... 1545–BD80

Internal Revenue Service—Long-Term Actions

Regulation Sequence Title Identifier Number Number

2804 Income Tax—Taxpayer’s Obligation To File a Notice of Redetermination of Foreign Tax and Civil Penalties for Failure To File ...... 1545–AC09 2805 Income Tax—Definition of Qualified Possession Source Investment Income for Purposes of Puerto Rico and Pos- session Tax Credit ...... 1545–AC10 2806 FSC Transfer Pricing Rules, Distributions, Dividends Received, Deduction, and Other Special Rules for FSC ...... 1545–AI16 2807 Information From Passport and Immigration Applicants ...... 1545–AJ93 2808 Income of Foreign Governments and International Organizations ...... 1545–AL93 2809 Clarification of Treatment of Separate Limitation Losses ...... 1545–AM11 2810 Earnings and Profits of Controlled Foreign Corporations ...... 1545–AM90 2811 Caribbean Basin Investments ...... 1545–AM91 2812 Consolidated Alternative Minimum Tax ...... 1545–AN73 2813 Conforming Taxable Years of CFCs and FPHCs ...... 1545–AO22 2814 Earnings Stripping Payments ...... 1545–AO24 2815 Fringe Benefit Sourcing Under Section 861 ...... 1545–AO72 2816 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 2817 Use of GAAP Earnings as E&P of Foreign Corporations ...... 1545–AQ55 2818 The Treatment of Accelerated Death Benefits ...... 1545–AQ70 2819 Allocation of Accrued Benefits Between Employer and Employee Contributions ...... 1545–AT82 2820 Foreign Corporations Regulations ...... 1545–AT96 2821 Application of Grantor Trust Rules to Nonexempt Employees’ Trust ...... 1545–AU29 2822 Recomputation of Life Insurance Reserves ...... 1545–AU49 2823 Source Rules for Payments Made Pursuant to Certain Swap Arrangements ...... 1545–AU89 2824 Financial Asset Securitization Investment Trust (FASIT) Start-Up; Operational and Transitional Rules ...... 1545–AU94 2825 Substantiating Travel Expense Deductions for Members of Congress ...... 1545–AV55 2826 Stocks and Securities Safe Harbor Exception ...... 1545–AW13 2827 Transportation of Persons and Property by Air ...... 1545–AW19 2828 Source of Income From Certain Space and Ocean Activities and for Communications Income ...... 1545–AW50 2829 Constructive Sales of Appreciated Financial Positions ...... 1545–AW97 2830 Definition of Accounting Method ...... 1545–AX21 2831 Dollar-Value LIFO...... 1545–AY39 2832 Special Rules for S Corporations ...... 1545–AY44 2833 Normal Retirement Age for Pension Plans ...... 1545–AY61 2834 Payments For Interest in Partnership ...... 1545–AY90 2835 Mergers Involving Disregarded Entities ...... 1545–BA06 2836 Consolidated Returns; Nonapplicability of Section 357(c) ...... 1545–BA09 2837 Noncompensatory Partnership Options ...... 1545–BA53 2838 Earnings and Profits Attribution Principles ...... 1545–BA93 2839 Investigative Disclosures...... 1545–BB16 2840 Mixed Use Output Facilities ...... 1545–BB23 2841 Accrual Rules for Creditable Foreign Taxes and Guidance on Change in Taxable Year ...... 1545–BB27 2842 Amendment to Section 6724 Relating to Failure To File Correct Information Returns ...... 1545–BB41 2843 Installment Obligations...... 1545–BB65 2844 Corporate Reorganizations: Continuity Transfers of Assets or Stock Following a Reorganization ...... 1545–BB80 2845 Substitute for Return (SFR) and Automated Substitute for Return (ASFR) ...... 1545–BC45 2846 Partnerships and Deemed Dispositions of Unrealized Receivables and Inventory Items ...... 1545–BC65 2847 Regulations Governing the Performance of Actuarial Services Under the Employee Retirement Income Security Act of 1974 ...... 1545–BC82

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TREAS

Internal Revenue Service—Long-Term Actions (Continued)

Regulation Sequence Title Identifier Number Number

2848 Treatment of Foreign Stapled Corporation ...... 1545–BD05 2849 Stock Held by Foreign Insurance Companies ...... 1545–BD27 2850 Brief Asset Holding Period (Temporary) ...... 1545–BD38 2851 Brief Asset Holding Period ...... 1545–BD39 2852 Transfers of Restricted Stock ...... 1545–BD44 2853 Transfers of Restricted Stock (Temporary) ...... 1545–BD45 2854 Asset Transfers Following Putative Reorganizations ...... 1545–BD56 2855 Guidance Under Section 6501(c)(1) Regulations ...... 1545–BD73

Internal Revenue Service—Completed Actions

Regulation Sequence Title Identifier Number Number

2856 Charitable Contributions...... 1545–AP30 2857 Foreign Tax Credit Anti-Abuse Regulation ...... 1545–AV97 2858 Interest on Education Loans ...... 1545–AW01 2859 Contingent Debt Instrument ...... 1545–AW33 2860 Delay Rental Payments ...... 1545–AX06 2861 Application of Separate Foreign Tax Credit Limitations ...... 1545–AX88 2862 Procurement/Purchasing Card Reporting ...... 1545–BA17 2863 Application of the Federal Insurance Contributions Act, Federal Unemployment Tax Act, and Collection of Income Tax at Source to Statutory Stock Options ...... 1545–BA26 2864 Required Distributions from Retirement Plans ...... 1545–BA60 2865 Interest Other Than That of a Creditor ...... 1545–BA69 2866 Statutory Options...... 1545–BA75 2867 Disclosure of Relative Value of Distribution Forms ...... 1545–BA78 2868 Partnership Transactions Involving Long-Term Contracts ...... 1545–BA81 2869 Transfer of Notes or Stock To Provide for Satisfaction of Contested Liabilities ...... 1545–BA90 2870 Place for Filing ...... 1545–BB00 2871 Reduced Exclusion of Gain From Sale or Exchange of Principal Residence ...... 1545–BB01 2872 Change in Use; Accelerated Cost Recovery System ...... 1545–BB05 2873 Capital Account Bookup ...... 1545–BB10 2874 Excise Tax Relating To Structured Settlement Factoring Transactions ...... 1545–BB14 2875 Advance Rentals...... 1545–BB44 2876 Administrative Simplification of 481(a) Adjustment Periods in Various Regulations ...... 1545–BB47 2877 Deemed IRAs in Qualified Retirement Plans ...... 1545–BB58 2878 Deemed IRAs in Qualified Retirement Plans (Temporary) ...... 1545–BB59 2879 Safe Harbor Leasing Second Interest Capitalization (Temporary) ...... 1545–BB63 2880 Availability of Section 338(h)(10) Election in Multistep Transactions ...... 1545–BB68 2881 Collected Excise Taxes; Duties of Collector (Temporary) ...... 1545–BB76 2882 Reduction of Tax Attributes Due To Discharge of Indebtedness Income ...... 1545–BB98 2883 Transfers of Nonstatutory Stock Options to Related Persons ...... 1545–BC06 2884 Preservation of Stock Basis ...... 1545–BC28 2885 Depreciation of Vans and Light Trucks ...... 1545–BC36 2886 Remedial Actions for Tax Exempt Bonds ...... 1545–BC40 2887 LIFO Recapture Under Section 1362(d) ...... 1545–BC66 2888 NIMCRUT Valuation Regulations ...... 1545–BC85 2889 Electronic Filing of Duplicate Forms 5472 ...... 1545–BD03 2890 Deemed IRAs in Governmental Plans/Qualified Nonbank Trustee Rules (Temporary) ...... 1545–BD08 2891 Transitional Rule for Vested Accrued Vacation Pay (Temporary) ...... 1545–BD12 2892 Deemed Corporate Election for Electing S Corporations (Temporary) ...... 1545–BD24 2893 Section 1031 Transition to NAICS ...... 1545–BD25 2894 Section 1031 Transition to NAICS (Temporary) ...... 1545–BD26 2895 Entry of Taxable Fuel (Temporary) ...... 1545–BD29 2896 Time and Manner of Making Section 163(d)(4)(B) Election To Treat Qualified Dividend Income as Investment In- come ...... 1545–BD30 2897 Clarification of Definitions (Temporary) ...... 1545–BD43

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TREAS

Internal Revenue Service—Completed Actions (Continued)

Regulation Sequence Title Identifier Number Number

2898 Guidance Under Section 1502; Waiver of Loss Carryover From Separate Return Limitation Years ...... 1545–BD58 2899 Treatment of Certain Settlement Funds as Pertaining To Purchase Price Allocations in Deemed and Actual Asset Acquisitions (Temporary) ...... 1545–BD59 2900 Extention of Time To Elect Method for Determining Allowable Loss ...... 1545–BD63 2901 Extention of Time To Elect Method For Determining Allowable Loss (Temporary) ...... 1545–BD64

Office of Thrift Supervision—Proposed Rule Stage

Regulation Sequence Title Identifier Number Number

2902 Risk-Based Capital Guidelines; Implementation of New Basel Capital Accord ...... 1550–AB56 2903 12 CFR 506 Securities-Related Activities of Savings Associations ...... 1550–AB92 2904 Identity Theft Detection, Prevention, and Mitigation Program for Financial Institutions and Creditors ...... 1550–AB94

Office of Thrift Supervision—Final Rule Stage

Regulation Sequence Title Identifier Number Number

2905 12 CFR 568 Proper Disposal of Consumer Information Under the Fair and Accurate Credit Transactions Act of 2003 ...... 1550–AB87 2906 Fair Credit Reporting Medical Information Regulations ...... 1550–AB88 2907 Fair Credit Reporting Affiliate Marketing Regulations ...... 1550–AB90 2908 12 CFR 506 EGRPRA Regulatory Review—Application and Reporting Requirements ...... 1550–AB93

Office of Thrift Supervision—Long-Term Actions

Regulation Sequence Title Identifier Number Number

2909 12 CFR 563e Community Reinvestment Act ...... 1550–AB48 2910 Community Reinvestment Act Regulations (Geographies) ...... 1550–AB91

Office of Thrift Supervision—Completed Actions

Regulation Sequence Title Identifier Number Number

2911 12 CFR 571 Fair Credit Reporting ...... 1550–AB33 2912 Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance: Consolidation of Asset- Backed Commercial Paper Programs and Other Related Issues ...... 1550–AB79 2913 Interagency Proposal To Consider Alternative Forms of Privacy Notices Under the Gramm-Leach-Bliley Act ...... 1550–AB86

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Department of the Treasury (TREAS) Proposed Rule Stage Departmental Offices (DO)

2382. AMENDMENTS TO THE Regulations Staff, 799 9th Street NW., 2384. TERRORISM RISK INSURANCE GOVERNMENT SECURITIES ACT Washington, DC 20239 PROGRAM; RECOUPMENTS OF REGULATIONS: EXEMPTION FOR Phone: 202 504–3632 FEDERAL SHARE OF HOLDINGS SUBJECT TO FIDUCIARY Fax: 202 504–3639 COMPENSATION FOR INSURED STANDARDS Email: [email protected] LOSSES Priority: Substantive, Nonsignificant Priority: Other Significant. Major status RIN: 1505–AB06 under 5 USC 801 is undetermined. Legal Authority: 15 USC 78o–5(b)(1)(A); 15 USC 78o–5(b)(4); 15 Legal Authority: Terrorism Risk USC 78o–5(b)(5); 31 USC 3121; 31 USC 2383. TERRORISM RISK INSURANCE Insurance Act, title 1, PL 107–297, 116 9110 PROGRAM; ADDITIONAL CLAIMS Stat 2322; 15 USC 6701 note; 5 USC 301 CFR Citation: 17 CFR 450.3 ISSUES CFR Citation: 31 CFR 50 Legal Deadline: None Priority: Other Significant. Major status Legal Deadline: None Abstract: The proposed rule would under 5 USC 801 is undetermined. Abstract: As the statutorily authorized amend the Government Securities Act Legal Authority: Terrorism Risk regulations applicable to custodial administrator of the Terrorism Risk Insurance Act, title 1, PL 107–297, 116 holdings of Government securities by Insurance Program, Treasury is issuing Stat 2322; 15 USC 6701 note; 5 USC depository institutions. Specifically, proposed and final regulations to 301 this proposal would expand the implement the Program. Under the Terrorism Risk Insurance Act, title I, eligibility for the exemption for CFR Citation: 31 CFR 50 holdings subject to fiduciary standards Public Law 107-297, and the Program, at 17 CFR part 450.3 to include savings Legal Deadline: None the Federal Government shares the risk associations examined by the Office of of insured losses from certified acts of Thrift Supervision. The exemption is Abstract: As the statutorily authorized terrorism with commercial property currently available to depository administrator of the Terrorism Risk and casualty insurers until the Program institutions that meet its conditions Insurance Program, Treasury is issuing sunsets on December 31, 2005. This regulated by the Federal Deposit proposed and final regulations to rule incorporates and clarifies statutory Insurance Corporation, the Comptroller implement the Program. Under the requirements for the recoupment of the of the Currency, and the Board of Terrorism Risk Insurance Act, title I, Federal share of compensation for Governors of the Federal Reserve Public Law 107-297, and the Program, insured losses. The rule establishes System. the Federal Government shares the risk requirements for determining amounts to be recouped and for procedures Timetable: of insured losses from certified acts of terrorism with commercial property insurers are to use for collecting Action Date FR Cite and casualty insurers until the Program terrorism loss risk-spreading premiums and remitting them to the Treasury. NPRM 11/00/04 sunsets on December 31, 2005. This NPRM Comment 12/00/04 rule provides requirements for claims Timetable: Period End procedures related to the later stages Action Date FR Cite of claims administration as well as Regulatory Flexibility Analysis NPRM 03/00/05 Required: No secondary issues such as procedures in NPRM Comment 05/00/05 case of insurer insolvency. Small Entities Affected: No Period End Final Action 09/00/05 Government Levels Affected: None Timetable: Regulatory Flexibility Analysis Agency Contact: Lori Santamorena, Action Date FR Cite Required: No Executive Director, Department of the NPRM 12/00/04 Treasury, Room 315, Government Government Levels Affected: None Securities Regulations Staff, 799 9th NPRM Comment 01/00/05 Agency Contact: Howard Leikin, Period End Street NW., Washington, DC 20239 Senior Insurance Advisor, Department Phone: 202 504–3632 Final Action 04/00/05 of the Treasury, Office of Financial Fax: 202 504–3639 Regulatory Flexibility Analysis Institutions, Terrorism Risk Insurance Email: [email protected] Required: No Program, 1500 Pennsylvania Avenue NW., Washington, DC 20220 Lee Grandy, Associate Director, Government Levels Affected: None Phone: 202 622–6770 Department of the Treasury, RIN: 1505–AB10 Governement Securities Regulations Agency Contact: Howard Leikin, Staff, 799 9th Street NW., Washington, Senior Insurance Advisor, Department DC 20239 of the Treasury, Office of Financial 2385. REMOTE LOCATION FILING Phone: 202 504–3632 Institutions, Terrorism Risk Insurance Priority: Substantive, Nonsignificant Fax: 202 504–3639 Program, 1500 Pennsylvania Avenue Legal Authority: 19 USC 66; 19 USC Email: [email protected] NW., Washington, DC 20220 1202; 19 USC 1484; 19 USC 1624; 19 Phone: 202 622–6770 Deidere R. Brewer, Government USC 1641 Securities Specialist, Department of the RIN: 1505–AB09 CFR Citation: 19 CFR 111; 19 CFR 113; Treasury, Government Securities 19 CFR 141; 19 CFR 143

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TREAS—DO Proposed Rule Stage

Legal Deadline: None 2387. RECORDATION OF 2388. REVISION OF OUTBOUND COPYRIGHTS AND ENFORCEMENT REDELIVERY PROCEDURES AND Abstract: Amendment to allow entry PROCEDURES TO PREVENT LIABILITIES filers to electronically file entries of IMPORTATION OF PIRATICAL Priority: Substantive, Nonsignificant merchandise with the Bureau of ARTICLES Customs and Border Protection from Legal Authority: 19 USC 66; 19 USC locations within the United States other Priority: Substantive, Nonsignificant 1623; 19 USC 1624 than at the port of arrival of the CFR Citation: Legal Authority: 19 CFR 113 merchandise or the location of 15 USC 1124; 15 USC Legal Deadline: None examination of the merchandise. 1125; 17 USC 101; 17 USC 106; 17 USC 501; 19 USC 66; 19 USC 1499; 19 USC Abstract: Amendment of the condition Timetable: 1595a; 17 USC 1201(b); 18 USC 2319A; in an international carrier bond ... Action Date FR Cite regarding the unlawful disposition of merchandise in order to allow CBP to CFR Citation: NPRM 01/00/05 19 CFR 133 better control the exportation of Legal Deadline: None merchandise and to have more control Regulatory Flexibility Analysis over demands for redelivery. Required: No Abstract: This amendment will allow Conditions of the bond would be Government Levels Affected: None CBP to be more responsive to claims amended to no longer require the of piracy. Amendment would allow merchandise to be labeled as seized Additional Information: Transferred sound recordings and motion pictures and detained for the principal to be from RIN 1515-AC23 or similar audio-visual works to be required to obtain permission from CBP recorded with CBP while pending prior to placing the merchandise on Agency Contact: John Leonard, registration with the U.S. Copyright board a conveyance for export or Program Officer, Department of the Office. Amendment would also otherwise disposing of the Treasury, Office of Field Operations, enhance the protection of all non-U.S. merchandise. Instead of the condition 1300 Pennsylvania Avenue NW., works by allowing recordation without being applicable when CBP labels Washington, DC 20229 requiring registration with the U.S. merchandise, the condition would be applicable when CBP notifies the Phone: 202 344–2687 Copyright Office. Amendment would principal either in writing or also set forth changes to CBP’s RIN: 1505–AB20 electronically that the merchandise has enforcement procedures, including, been seized or detained. among other things, enhanced 2386. UNIFORM RULES OF ORIGIN disclosure provisions, protection for Timetable: live musical performances and Action Date FR Cite Priority: Substantive, Nonsignificant provisions to enforce the Digital NPRM 02/00/05 Legal Authority: 19 USC 66; 19 USC Millennium Copyright Act. Regulatory Flexibility Analysis 1202; 19 USC 1624 Timetable: Required: No CFR Citation: 19 CFR 102 Action Date FR Cite Government Levels Affected: None Legal Deadline: None NPRM 12/00/04 Agency Contact: Robert C. Rawls, Operations Officer, Department of the Abstract: Amendment to set forth Regulatory Flexibility Analysis Treasury, Office of Field Operations, uniform rules for determining the Required: No 1300 Pennsylvania Avenue NW., country of origin of imported goods. Washington, DC 20229 Government Levels Affected: None Phone: 202 344–1926 Timetable: Agency Contact: Paul Pizzeck, RIN: 1505–AB52 Action Date FR Cite Attorney, Intellectual Property Rights NPRM 12/00/04 Branch, Department of the Treasury, 2389. CENTRALIZATION OF THE Office of Regulations and Rulings, 1300 CONTINUOUS BOND PROGRAM AT Regulatory Flexibility Analysis Pennsylvania Avenue NW., THE CBP NATIONAL FINANCE Required: No Washington, DC 20229 CENTER Phone: 202 572–8710 Government Levels Affected: None Priority: Substantive, Nonsignificant. George F. McCray, Chief, Intellectual Major status under 5 USC 801 is Agency Contact: Daniel Cornette, undetermined. Attorney, Special Classification and Property Rights Branch, Department of Marking Branch, Department of the the Treasury, Office of Regulations and Legal Authority: 19 USC 1623 Treasury, Office of Regulations and Rulings, 1300 Pennsylvania Avenue CFR Citation: 19 CFR 101; 19 CFR 113 NW., Washington, DC 20229 Rulings, 1300 Pennsylvania Avenue Legal Deadline: None NW., Washington, DC 20229 Phone: 202 572–8709 Phone: 202 572–8731 Abstract: Amendment to reflect CBP’s RIN: 1505–AB51 planned centralization of the RIN: 1505–AB49 continuous bond program at the

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TREAS—DO Proposed Rule Stage

National Finance Center (NFC). changes would support CBP’s bond Regulatory Flexibility Analysis Pursuant to this centralization, all program by ensuring an efficient and Required: No continuous bonds would be filed at the uniform approach to the approval, Government Levels Affected: None NFC via mail, fax, or in an electronic maintenance, and periodic review of format. The NFC would assume most continuous bonds. Agency Contact: Bruce Ingalls, Chief, of the bond functions previously Collection Section, Department of the performed at the port level, with the Timetable: Treasury, Office of Finance, Indianapolis, IN 46278 noted exception that the authority to Action Date FR Cite approve single transaction bonds will Phone: 317 298–1307 remain with port directors. These NPRM 01/00/05 RIN: 1505–AB54

Department of the Treasury (TREAS) Final Rule Stage Departmental Offices (DO)

2390. REPORTING AND PROCEDURES Fax: 202 622–1657 Phone: 202 572–8832 REGULATIONS; CUBAN ASSETS RIN: 1505–AA95 RIN: 1505–AB21 CONTROL REGULATIONS: PUBLICATION OF ECONOMIC SANCTIONS ENFORCEMENT 2391. COUNTRY–OF–ORIGIN 2392. EXPANDED METHODS OF GUIDELINES MARKING PAYMENT OF DUTIES, TAXES, INTEREST, AND FEES Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant Legal Authority: 21 USC 1901 to 1908; Legal Authority: 5 USC 301; 19 USC 22 USC 287c; 31 USC 321(b); 50 USC 66; 19 USC 1202; 19 USC 1304; 19 USC Legal Authority: 5 USC 301; 19 USC 1701 to 1706; 50 USC app 1–44 1624 197; 19 USC 198; 19 USC 58a; 19 USC CFR Citation: 19 CFR 134 58b; 19 USC 58c; 19 USC 66; 19 USC CFR Citation: 31 CFR 501; 31 CFR 515 1202; 19 USC 1450; 19 USC 1624; 31 Legal Deadline: None Legal Deadline: None USC 9701 Abstract: Amendments clarify the CFR Citation: 19 CFR 24 Abstract: The Office of Foreign Assets country-of-origin marking rules set Control (OFAC) of the U.S. Department forth in part 134 of the Bureau of Legal Deadline: None of the Treasury is publishing for public Customs and Border Protection Abstract: Amendment to expand the comment an updated version of its Regulations. Amendments promote the number of ways that the Bureau of internal Economic Sanctions concept of informed compliance by the Customs and Border Protection will Enforcement Guidelines. These trade and proper field administration of accept payment of duties, taxes, fees, Guidelines are being published as the statutory requirement. interest, and other charges. Currently, separate appendices to two parts of the Timetable: the regulations allow for credit or Code of Federal Regulations: 1) general charge cards, which have been provisions are being published as an Action Date FR Cite authorized by the Commissioner of the appendix to the Reporting and NPRM 01/26/00 65 FR 4193 Bureau of Customs and Border Procedures Regulations, 31 CFR part NPRM Comment 04/26/00 65 FR 17473 Protection (Commissioner), to be used 501; and 2) specific provisions focusing Period End at designated customs-serviced on Cuba are being published as an Final Action 03/00/05 locations with a limitation that this appendix to the Cuban Assets Control method of payment may only be used Regulations, 31 CFR part 515. Regulatory Flexibility Analysis Required: No by noncommercial entities. Amendment Timetable: allows payment of duties, taxes, fees, Government Levels Affected: None interest, and other charges by any Action Date FR Cite Additional Information: Transferred electronic technology or charge cards NPRM 01/29/03 68 FR 4422 from RIN 1515-AC32 (either debit or credit cards) that are NPRM Comment 03/31/03 authorized by the Commissioner and by Agency Contact: Period End Monika Rice Brenner, removing the limitation that these Final Action 01/00/05 Chief, Special Classification and methods of payment may only be used Marking Branch, Department of the by noncommercial entities. Regulatory Flexibility Analysis Treasury, Office of Regulations and Required: No Rulings, 1300 Pennsylvania Avenue Timetable: Government Levels Affected: None NW., Washington, DC 20229 Action Date FR Cite Phone: 202 572–8810 Agency Contact: Chief of Records, NPRM 03/17/99 64 FR 13141 Department of the Treasury, Kristen VerSteeg, Attorney–Advisor, NPRM Comment 05/17/99 Annex–2nd Floor, Office of Foreign Special Classification and Marking Period End Assets Control, 1500 Pensylvania Branch, Department of the Treasury, Final Action 03/00/05 Avenue NW., Washington, DC 20220 1300 Pennsylvania Avenue NW., Regulatory Flexibility Analysis Phone: 202 622–2530 Washington, DC 20229 Required: No

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TREAS—DO Final Rule Stage

Government Levels Affected: None 2394. AFRICAN GROWTH AND CFR Citation: 19 CFR 146 OPPORTUNITY ACT AND Legal Deadline: None Additional Information: Transferred GENERALIZED SYSTEM OF from RIN 1515-AC40 PREFERENCES Abstract: Amendment in conformance with the Trade and Development Act Agency Contact: Linda Lloyd, Priority: Substantive, Nonsignificant of 2000 to expand the weekly entry Financial Officer, Department of the Legal Authority: 19 USC 66; 19 USC procedure for foreign trade zones to Treasury, Financial Policy Division, 1202; 19 USC 1321; 19 USC 1481; 19 include merchandise involved in 1300 Pennsylvania Avenue NW., USC 1484; 19 USC 1498; 19 USC 1508; activities other than exclusively Washington, DC 20229 19 USC 1623; 19 USC 1624; 19 USC assembly-line production operations. Phone: 202 344–1565 2461; 19 USC 3314; 19 USC 3721 Under the expanded weekly procedure, RIN: 1505–AB22 CFR Citation: 19 CFR 10; 19 CFR 163 weekly entries covering estimated removals of merchandise from a foreign Legal Deadline: Final, Statutory, trade zone for any seven-day period October 1, 2000, Public Law 106–200. 2393. USER AND NAVIGATION FEES; and the associated entry summaries OTHER REIMBURSABLE CHARGES Abstract: Amendments to implement will have to be filed exclusively the trade benefit provisions for sub- Priority: Substantive, Nonsignificant through the Automated Broker Saharan Africa contained in title I of Interface, with duties, fees, and taxes Legal Authority: 5 USC 301; 19 USC the Trade and Development Act of being scheduled for payment through 58a to 58c; 19 USC 66; 19 USC 1202; 2000. The trade benefits under title I, the Automated Clearinghouse. also referred to as the African Growth 19 USC 1431; 19 USC 1433; 19 USC Timetable: 1434; 19 USC 1505; 19 USC 1624; 31 and Opportunity Act, apply to sub- USC 9701; 46 USC 2110 to 2112 Saharan African countries designated Action Date FR Cite by the President and involve the NPRM 07/25/02 67 FR 48594 CFR Citation: 19 CFR 4; 19 CFR 24; extension of duty-free treatment under NPRM Comment 09/23/02 19 CFR 101 the Generalized System of Preferences Period End Legal Deadline: None (GSP) to nonimport-sensitive, Final Action 02/00/05 nontextile articles normally excluded Regulatory Flexibility Analysis Abstract: Amendment regarding the from GSP duty-free treatment, and the Required: proper assessment of user and entry of specific textile and apparel No navigation fees, as well as other articles free of duty and free of any Government Levels Affected: None reimbursement charges for customs quantitative limits. Additional Information: Transferred services performed in connection with, Timetable: from RIN 1515-AC74 among other things, the processing of vehicles, vessels, aircraft, and Action Date FR Cite Agency Contact: Debbie Scott, Chief, merchandise arriving in the United Interim Final Rule 10/01/00 Entry and Drawback Management, States. The purpose of the amendment Effective Department of the Treasury, Office of is to conform the regulations with the Interim Final Rule 10/05/00 65 FR 59668 Field Operations, 1300 Pennsylvania intent of the customs user fee statute Interim Final Rule 12/04/00 Avenue NW., Washington, DC 20229 and to reflect existing operational Comment Period Phone: 202 344–1962 policy and administrative practice in End RIN: 1505–AB27 this area. Final Action 12/00/04 Regulatory Flexibility Analysis Timetable: 2396. UNITED STATES–CARIBBEAN Required: No BASIN TRADE PARTNERSHIP ACT Action Date FR Cite Government Levels Affected: None AND CARIBBEAN BASIN INITIATIVE NPRM 05/01/01 66 FR 21705 Additional Information: Transferred Priority: Substantive, Nonsignificant NPRM Comment 07/02/01 from RIN 1515-AC72 Period End Legal Authority: 19 USC 66; 19 USC Final Action 12/00/04 Agency Contact: Cynthia Reese, Senior 1202; 19 USC 1321; 19 USC 1481; 19 Attorney, Department of the Treasury, USC 1484; 19 USC 1498; 19 USC 1508; Regulatory Flexibility Analysis Room 503, Office of Regulations and 19 USC 1623; 19 USC 1624; 19 USC Required: No Rulings, 1300 Pennsylvania Avenue 2701; 19 USC 3314 NW., Washington, DC 20229 Government Levels Affected: None Phone: 202 572–8790 CFR Citation: 19 CFR 10; 19 CFR 163 Additional Information: Transferred RIN: 1505–AB26 Legal Deadline: Final, Statutory, from RIN 1515-AC63 October 1, 2000, Public Law 106–200. Agency Contact: Kimberly Nott, 2395. EXPANDED WEEKLY ENTRY Abstract: Amendments to implement Operations Officer, Department of the PROCEDURE FOR FOREIGN TRADE the trade benefit provisions for Treasury, Office of Field Operations, ZONES Caribbean Basin countries contained in title II of the Trade and Development 1300 Pennsylvania Avenue NW., Priority: Substantive, Nonsignificant Washington, DC 20229 Act of 2000. The trade benefits under Phone: 202 344–2083 Legal Authority: 19 USC 66; 19 USC title II, also referred to as the United 81a to 81u; 19 USC 1202; 19 USC States-Caribbean Basin Trade RIN: 1505–AB24 1484i; 19 USC 1623; 19 USC 1624 Partnership Act (the CBTPA), apply to

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TREAS—DO Final Rule Stage

Caribbean Basin countries designated Action Date FR Cite Agency Contact: Jeremy Baskin, by the President and involve the entry Attorney–Advisor, Penalties Branch, of specific textile and apparel articles Second NPRM 12/09/02 Department of the Treasury, Office of free of duty and free of any quantitative Comment Period Regulations and Rulings, 1300 End restrictions, limitations, or consultation Pennsylvania Avenue NW., Final Action 01/00/05 levels and the extension of NAFTA Washington, DC 20229 duty treatment standards to nontextile Regulatory Flexibility Analysis Phone: 202 572–8753 articles that are excluded from duty- Required: No free treatment under the Caribbean Government Levels Affected: None Luan Cotter, Operations Officer, Basin Initiative program. Department of the Treasury, Office of Additional Information: Transferred Field Operations, 1300 Pennsylvania Timetable: from RIN 1515-AC77 Avenue NW., Washington, DC 20229 Action Date FR Cite Agency Contact: Dennis Lomax, Phone: 202 927–1249 Interim Final Rule 10/01/00 65 FR 59650 Accountant, Department of the Effective Treasury, Accounting Services Division, Renee Stevens, Science Officer, Interim Final Rule 10/05/00 65 FR 59650 Office of Finance, Indianapolis, IN Department of the Treasury, Office of Interim Final Rule 12/04/00 46278 Laboratories and Scientific Services, Comment Period Phone: 317 298–1200 1300 Pennsylvania Avenue NW., Washington, DC 20229 End RIN: 1505–AB29 Final Action 12/00/04 Phone: 202 927–0941 RIN: 1505–AB31 Regulatory Flexibility Analysis 2398. DOG AND CAT PROTECTION Required: No ACT 2399. PROTOTYPES USED SOLELY Government Levels Affected: None Priority: Substantive, Nonsignificant FOR PRODUCT DEVELOPMENT, Additional Information: Transferred Legal Authority: 19 USC 66; 19 USC TESTING, EVALUATION, OR QUALITY from RIN 1515-AC76 1202; 19 USC 1308; 19 USC 1592; 19 CONTROL PURPOSES USC 1593a; 19 USC 1624 Agency Contact: Cynthia Reese, Senior Priority: Substantive, Nonsignificant Attorney, Department of the Treasury, CFR Citation: 19 CFR 12; 19 CFR 113; Legal Authority: 19 USC 66; 19 USC Room 503, Office of Regulations and 19 CFR 151; 19 CFR 162 1202; 19 USC 1321; 19 USC 1481; 19 Rulings, 1300 Pennsylvania Avenue Legal Deadline: Final, Statutory, USC 1484; 19 USC 1498; 19 USC 1508; NW., Washington, DC 20229 August 9, 2001, Public Law 106–476. 19 USC 1623; 19 USC 1624; PL Phone: 202 572–8790 Abstract: Amendment to implement 106–476 RIN: 1505–AB28 certain provisions of the Dog and Cat CFR Citation: 19 CFR 10; 19 CFR 163 Protection Act of 2000. The Dog and Legal Deadline: Final, Statutory, 2397. REIMBURSABLE CUSTOMS Cat Protection Act of 2000 prohibits the importation of any products containing September 9, 2001, Public Law INSPECTIONAL SERVICES— 106–476. INCREASE IN HOURLY RATE dog or cat fur, and provides for civil CHARGE and criminal penalties for violations of Abstract: Amendment to establish rules the Act. Amendment sets forth the and procedures under the Product Priority: Substantive, Nonsignificant prohibitions on dog and cat fur Development and Testing Act of 2000 Legal Authority: 5 USC 301; 5 USC importations and the penalties for (PDTA). The purpose of the PDTA is 6103; 19 USC 58a to 58c; 19 USC 66; violations. Amendment also to promote product development and 19 USC 261; 19 USC 267; 19 USC 1202; implements the provision of the Act testing in the United States by allowing 19 USC 1450 to 1452; 19 USC 1456; pertaining to customs certification the duty-free entry of articles, 19 USC 1505; 19 USC 1557; 19 USC process of commercial laboratories, commonly referred to as prototypes, 1562; 19 USC 1624; 26 USC 4461; 26 both domestic and foreign, that can that are to be used exclusively in USC 4462; 31 USC 9701; 46 USC 2110 determine if articles intended to be product development, testing, to 2112 imported into the United States contain evaluation, and quality control. dog or cat fur. Amendments set forth the procedures CFR Citation: 19 CFR 24; 19 CFR 101 Timetable: for both the identification of those Legal Deadline: None prototypes properly entitled to duty- Action Date FR Cite free entry, as well as the permissible Abstract: Amendment to increase the NPRM 08/10/01 66 FR 42163 sale of such prototypes, following use rate of charge for reimbursable customs NPRM Comment 10/09/01 in the United States, as scrap, waste, inspectional services. Period End or for recycling. Timetable: Final Action 05/00/05 Timetable: Regulatory Flexibility Analysis Action Date FR Cite Action Date FR Cite Required: No NPRM 02/01/01 66 FR 8554 NPRM 03/08/02 67 FR 10636 Government Levels Affected: None NPRM Comment 04/02/01 NPRM Comment 04/08/02 Period End Additional Information: Transferred Period End Second NPRM 10/09/02 67 FR 62920 from RIN 1515-AC87 Final Action 11/00/04

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TREAS—DO Final Rule Stage

Regulatory Flexibility Analysis Rulings, 1300 Pennsylvania Avenue 2402. IMPLEMENTATION OF THE Required: No NW., Washington, DC 20229 ANDEAN TRADE PROMOTION AND Government Levels Affected: None Phone: 202 572–8790 DRUG ERADICATION ACT Priority: Substantive, Nonsignificant Additional Information: Transferred Brian Fennessy, Acting Branch Chief, from RIN 1515-AC88 Textile Policy and Trade Initiatives Legal Authority: 19 USC 66; 19 USC Agency Contact: Richard Walliio, Branch, Department of the Treasury, 1202; 19 USC 1321; 19 USC 1481; 19 Operations Officer, Department of the Office of Field Operations, 1300 USC 1484; 19 USC 1498; 19 USC 1508; Treasury, Office of Field Operations, Pennsylvania Avenue NW., 19 USC 1623; 19 USC 1624; 19 USC 1300 Pennsylvania Avenue NW., Washington, DC 20229 3203; 19 USC 3314 Washington, DC 20229 Phone: 202 344–2272 CFR Citation: 19 CFR 10; 19 CFR 163 Phone: 202 344–2556 RIN: 1505–AB33 Legal Deadline: None RIN: 1505–AB32 Abstract: Amendment to implement 2401. SINGLE ENTRY FOR the trade benefit provisions for Andean 2400. PREFERENTIAL TREATMENT UNASSEMBLED OR DISASSEMBLED countries contained in title XXXI of the OF BRASSIERES UNDER THE UNITED ENTITIES IMPORTED ON MULTIPLE Trade Act of 2002. The trade benefits STATES–CARIBBEAN BASIN TRADE CONVEYANCES under title XXXI, also referred to as the Andean Trade Promotion and Drug PARTNERSHIP ACT Priority: Substantive, Nonsignificant Eradication Act (the ATPDEA), apply Priority: Substantive, Nonsignificant Legal Authority: 19 USC 66; 19 USC to Andean countries specifically Legal Authority: 19 USC 66; 19 USC 1448; 19 USC 1484; 19 USC 1624 designated by the President for 1202; 19 USC 1321; 19 USC 1481; 19 CFR Citation: 19 CFR 141; 19 CFR 142 ATPDEA purposes. The ATPDEA trade USC 1484; 19 USC 1498; 19 USC 1508; benefits involve the entry of specific 19 USC 1623; 19 USC 1624; 19 USC Legal Deadline: Final, Statutory, May apparel and other textile articles free 2701; 19 USC 3314 9, 2001, Public Law 106–476. of duty and free of any quantitative CFR Citation: 19 CFR 10; 19 CFR 163 Abstract: Amendment to allow an restrictions, limitations, or consultation levels, the extension of duty-free Legal Deadline: importer of record, under certain Final, Statutory, treatment to specified nontextile October 1, 2001, Public Law 106–200. conditions, to submit a single entry to cover multiple portions of a single articles normally excluded from duty- Abstract: Amendment to implement entity which, due to its size or nature, free treatment under the Andean Trade those provisions within the United arrives in the United States on separate Preference Act (ATPA) program if the States-Caribbean Basin Trade conveyances. Amendment implements President finds those articles to be not Partnership Act (the CBTPA) that statutory changes made to the import-sensitive in the context of the establish standards for preferential merchandise entry laws by the Tariff ATPDEA, and the entry of certain treatment for brassieres imported from Suspension and Trade Act of 2000. imports of tuna free of duty and free CBTPA beneficiary countries. The of any quantitative restrictions. Timetable: amendments involve specifically the Timetable: methods, procedures, and related Action Date FR Cite Action Date FR Cite standards that will apply for purposes NPRM 04/08/02 67 FR 16664 of determining compliance with the 75 NPRM Comment 06/07/02 Interim Final Rule 03/25/03 68 FR 14478 percent aggregate U.S. fabric Period End Interim Final Rule 03/25/03 components content requirement under Final Action 12/00/04 Effective the CBTPA brassieres provision. Interim Final Rule 05/27/03 Regulatory Flexibility Analysis Timetable: Comment Period Required: No End Action Date FR Cite Government Levels Affected: None Final Action 12/00/04 Interim Final Rule 10/04/01 66 FR 50534 Additional Information: Transferred Regulatory Flexibility Analysis Interim Final Rule 10/04/01 from RIN 1515-AC94 Required: No Effective Correction 10/11/01 66 FR 51864 Agency Contact: Gina Grier, Attorney, Government Levels Affected: None Interim Final Rule 12/03/01 Entry Procedures and Carriers Branch, Additional Information: Transferred Comment Period Department of the Treasury, Office of from RIN 1515-AD19 End Regulations and Rulings, 1300 Agency Contact: Final Action 11/00/04 Cynthia Reese, Senior Pennsylvania Avenue NW., Attorney, Department of the Treasury, Regulatory Flexibility Analysis Washington, DC 20229 Room 503, Office of Regulations and Required: No Phone: 202 572–8730 Rulings, 1300 Pennsylvania Avenue NW., Washington, DC 20229 Government Levels Affected: None Robert E. Watt, Program Officer, Phone: 202 572–8790 Additional Information: Transferred Department of the Treasury, Office of from RIN 1515-AC89 Field Operations, 1300 Pennsylvania Robert Abels, Operations Officer, Agency Contact: Cynthia Reese, Senior Avenue NW., Washington, DC 20229 Department of the Treasury, Office of Attorney, Department of the Treasury, Phone: 202 927–0279 Field Operations, 1300 Pennsylvania Room 503, Office of Regulations and RIN: 1505–AB34 Avenue NW., Washington, DC 20229

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TREAS—DO Final Rule Stage

Phone: 202 344–1959 Cynthia Reese, Senior Attorney, 2405. TRADE BENEFITS UNDER THE Department of the Treasury, Room 503, CARIBBEAN BASIN ECONOMIC RIN: 1505–AB37 Office of Regulations and Rulings, 1300 RECOVERY ACT Pennsylvania Avenue NW., Priority: Substantive, Nonsignificant 2403. TRADE BENEFITS UNDER THE Washington, DC 20229 AFRICAN GROWTH AND Phone: 202 572–8790 Legal Authority: 19 USC 66; 19 USC OPPORTUNITY ACT 1202; 19 USC 1321; 19 USC 1481; 19 RIN: 1505–AB38 USC 1484; 19 USC 1498; 19 USC 1508; Priority: Substantive, Nonsignificant 19 USC 1623; 19 USC 1624; 19 USC Legal Authority: 19 USC 66; 19 USC 2404. FEES FOR CUSTOMS 2701; 19 USC 3314 1202; 19 USC 1321; 19 USC 1481; 19 PROCESSING AT EXPRESS COURIER CFR Citation: 19 CFR 10 USC 1484; 19 USC 1498; 19 USC 1508; FACILITIES 19 USC 1623; 19 USC 1624; 19 USC Legal Deadline: None 3721; 19 USC 3314 Priority: Substantive, Nonsignificant Abstract: Amendment to implement the trade benefits for Caribbean Basin CFR Citation: 19 CFR 10 Legal Authority: 5 USC 301; 19 USC countries contained in section 213(b) of Legal Deadline: 58a to 58c; 19 USC 66; 19 USC 1202; None the Caribbean Basin Economic 19 USC 1505; 19 USC 261; 19 USC 267; Abstract: Amendment to those Recovery Act (the CBERA). 19 USC 1450 to 1452; 19 USC 1456; provisions of the Customs Regulations Amendments involve the textile and 19 USC 1524; 19 USC 1557; 19 USC that implement the trade benefit apparel provisions of section 213(b) 1562; 19 USC 1624; 26 USC 4461; 26 provisions for sub-Saharan African and in part reflect changes made to USC 4462; 19 USC 3332; 46 USC 2110 countries contained in the African those statutory provisions by section to 2112 Growth and Opportunity Act (the 3107 of the Trade Act of 2002. The AGOA). Amendments involve the CFR Citation: 19 CFR 24; 19 CFR 113; specific statutory changes involve the textile and apparel provisions of the 19 CFR 128 amendment of several provisions to AGOA and in part reflect changes to clarify the status of apparel articles those statutory provisions by section Legal Deadline: None assembled from knit-to-shape 3108 of the Trade Act of 2002. The components, the addition of language specific statutory changes involve the Abstract: Amendment to implement requiring any dyeing, printing, and amendment of several provisions to amendments to the customs user fee finishing of certain fabrics to be done clarify the status of apparel articles statute made by section 337 of the in the United States, the inclusion of assembled from knit-to-shape Trade Act of 2002. Statutory exception language in the brassieres components, the inclusion of a specific amendments concern the fees payable provision regarding articles entered reference to apparel articles formed on for customs services provided in under other CBERA apparel provisions, seamless knitting machines, a change connection with the informal entry or the addition of a provision permitting of the wool fiber diameter specified in release of shipments at express the dyeing, printing, and finishing of one provision, and the addition of a consignment carrier facilities and thread in the Caribbean region, and the new provision to cover additional centralized hub facilities. The effect of addition of a new provision to cover production scenarios involving the the statutory amendments is to replace additional production scenarios United States and AGOA beneficiary the annual lump sum payment involving the United States and the countries. procedure with a quarterly payment Caribbean region. procedure based on a specific fee for Timetable: each individual airway bill or bill of Timetable: Action Date FR Cite lading. Action Date FR Cite Interim Final Rule 03/21/03 68 FR 13820 Timetable: Interim Final Rule 03/21/03 68 FR 13827 Interim Final Rule 03/21/03 Interim Final Rule 03/21/03 Effective Action Date FR Cite Effective Interim Final Rule 05/20/03 Interim Final Rule 03/00/05 Interim Final Rule 05/20/03 Comment Period Comment Period End Regulatory Flexibility Analysis End Final Action 12/00/04 Required: No Final Action 12/00/04 Regulatory Flexibility Analysis Government Levels Affected: None Regulatory Flexibility Analysis Required: No Required: No Additional Information: Transferred Government Levels Affected: None Government Levels Affected: None from RIN 1515-AD21 Additional Information: Transferred Additional Information: Transferred from RIN 1515-AD20 Agency Contact: Joseph Lanzante, from RIN 1515-AD22 Operations Officer, Department of the Agency Contact: Robert Abels, Treasury, Office of Field Operations, Agency Contact: Robert Abels, Operations Officer, Department of the 1300 Pennsylvania Avenue NW., Operations Officer, Department of the Treasury, Office of Field Operations, Washington, DC 20229 Treasury, Office of Field Operations, 1300 Pennsylvania Avenue NW., Phone: 202 344–2675 1300 Pennsylvania Avenue NW., Washington, DC 20229 Washington, DC 20229 Phone: 202 344–1959 RIN: 1505–AB39 Phone: 202 344–1959

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TREAS—DO Final Rule Stage

Cynthia Reese, Senior Attorney, 2407. MERCHANDISE PROCESSING Legal Deadline: Final, Statutory, Department of the Treasury, Room 503, FEES ELIGIBLE TO BE CLAIMED AS January 1, 2005, United States–Chile Office of Regulations and Rulings, 1300 CERTAIN TYPES OF DRAWBACK Free Trade Agreement Implementation Pennsylvania Avenue NW., BASED ON SUBSTITUTION OF Act. FINISHED PETROLEUM DERIVATIVES Washington, DC 20229 Abstract: This will implement the Phone: 202 572–8790 Priority: Substantive, Nonsignificant preferential tariff treatment and other customs-related provisions of the Free RIN: 1505–AB40 Legal Authority: 5 USC 301; 19 USC 66; 19 USC 1202; 19 USC 1313; 19 USC Trade Agreement entered into by the 1624 United States and the Republic of Chile. 2406. TARIFF TREATMENT RELATED CFR Citation: 19 CFR 191 TO DISASSEMBLY OPERATIONS Timetable: UNDER THE NORTH AMERICAN FREE Legal Deadline: None Action Date FR Cite TRADE AGREEMENT (NAFTA) Abstract: Amendment to provide that merchandise processing fees are eligible Interim Final Rule 12/00/04 Priority: Substantive, Nonsignificant to be claimed, in limited circumstances, Regulatory Flexibility Analysis as drawback based on substitution of Legal Authority: Required: No 19 USC 66; 19 USC finished petroleum derivatives. 1202; 19 USC 1624; 19 USC 3314 Amendment is consistent with a court Government Levels Affected: None CFR Citation: 19 CFR 181 decision in which merchandise Agency Contact: Carol McDaniel, processing fees were found to be Operations Officer, Department of the Legal Deadline: None eligible to be claimed as unused Treasury, Office of Field Operations, merchandise drawback. As drawback 1300 Pennsylvania Avenue NW., Abstract: Amendment to amend the based on substitution of finished Washington, DC 20229 Customs Regulations concerning the petroleum derivatives is, in limited Phone: 202 344–1131 North American Free Trade Agreement circumstances, treated in the same (NAFTA) to allow components that are manner as unused merchandise Robert Abels, Operations Officer, recovered from the disassembly of used drawback, the amendment reflects that Department of the Treasury, Office of goods in a NAFTA country to be merchandise processing fees are also Field Operations, 1300 Pennsylvania entitled to NAFTA originating status eligible to be claimed as drawback in Avenue NW., Washington, DC 20229 when imported into the United States, these circumstances. Phone: 202 344–1959 provided that: 1) the recovered Timetable: components satisfy the applicable RIN: 1505–AB47 NAFTA rules of origin requirements; Action Date FR Cite and 2) where the applicable rule of NPRM 10/02/03 68 FR 56804 2409. UNITED STATES—SINGAPORE origin does not include a regional value NPRM Comment 12/01/03 FREE TRADE AGREEMENT content requirement, the components Period End Priority: Substantive, Nonsignificant are subject to further processing in the Final Action 11/00/04 NAFTA country beyond certain minor Regulatory Flexibility Analysis Legal Authority: 19 USC 3805 note; 19 operations. Required: No USC 1202; 19 USC 66; 19 USC 1624; ... Timetable: Small Entities Affected: No CFR Citation: 19 CFR 10; 19 CFR 12; Action Date FR Cite Government Levels Affected: None 19 CFR 24; 19 CFR 163; . . . Additional Information: NPRM 03/13/03 68 FR 12011 Transferred Legal Deadline: Final, Statutory, from RIN 1515-AD32 NPRM Comment 05/12/03 January 1, 2005, U.S.–Singapore Free Period End Agency Contact: William G. Rosoff, Trade Agreement Implementation Act. Chief, Duty Refund and Determination Final Action 01/00/05 Abstract: Amendment to implement Branch, Department of the Treasury, the preferential tariff treatment and Regulatory Flexibility Analysis Office of Regulations and Rulings, 1300 other customs-related provisions of the Required: No Pennsylvania Avenue NW., Free Trade Agreement entered into by Washington, DC 20229 Government Levels Affected: the United States and the Republic of None Phone: 202 572–8807 Singapore. Additional Information: Transferred RIN: 1505–AB44 Timetable: from RIN 1515-AD23 Action Date FR Cite Agency Contact: Edward M. Leigh, 2408. UNITED STATES—CHILE FREE Attorney, Special Classification and TRADE AGREEMENT Interim Final Rule 12/00/04 Marking Branch, Department of the Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis Treasury, Office of Regulations and Required: No Legal Authority: 19 USC 3805 note; 19 Rulings, 1300 Pennsylvania Avenue USC 1202; 19 USC 66; 19 USC 1624; Government Levels Affected: None NW., Washington, DC 20229 ... Phone: 202 572–8827 Agency Contact: Carol McDaniel, CFR Citation: 19 CFR 10; 19 CFR 12; Operations Officer, Department of the RIN: 1505–AB41 19 CFR 24; 19 CFR 163; . . . Treasury, Office of Field Operations,

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TREAS—DO Final Rule Stage

1300 Pennsylvania Avenue NW., Robert Abels, Operations Officer, Phone: 202 344–1959 Washington, DC 20229 Department of the Treasury, Office of RIN: 1505–AB48 Phone: 202 344–1131 Field Operations, 1300 Pennsylvania Avenue NW., Washington, DC 20229

Department of the Treasury (TREAS) Long-Term Actions Departmental Offices (DO)

2410. POSSIBLE REGULATION OF Timetable: Next Action Undetermined Government Levels Affected: None ACCESS TO ACCOUNTS AT Regulatory Flexibility Analysis Agency Contact: Gary W. Sutton FINANCIAL INSTITUTIONS THROUGH Required: No Phone: 202 622–1976 PAYMENT SERVICE PROVIDERS Government Levels Affected: None Fax: 202 622–1974 Priority: Substantive, Nonsignificant. Email: [email protected] Agency Contact: Gary W. Sutton Major status under 5 USC 801 is RIN: 1505–AA85 undetermined. Phone: 202 622–1976 Fax: 202 622–1974 CFR Citation: 31 CFR ch II Email: [email protected] 2415. HARBOR MAINTENANCE FEE Timetable: RIN: 1505–AA81 Priority: Substantive, Nonsignificant Action Date FR Cite CFR Citation: 19 CFR 4; 19 CFR 24; ANPRM 01/08/99 64 FR 1149 2413. SECRETARY’S DETERMINATION 19 CFR 146; 19 CFR 178 ANPRM Comment 04/08/99 OF REAL ESTATE BROKERAGE Period End Timetable: Priority: Substantive, Nonsignificant Next Action Undetermined Action Date FR Cite CFR Citation: 12 CFR 1501.2 Regulatory Flexibility Analysis Interim Final Rule 03/01/87 Required: Undetermined Timetable: Effective Government Levels Affected: None Action Date FR Cite Interim Final Rule 03/30/87 52 FR 10198 Interim Final Rule 05/29/87 Agency Contact: Donna Felmlee NPRM 01/03/01 66 FR 307 Comment Period Phone: 202 622–1808 NPRM Comment 03/02/01 End Period End Final Action To Be Determined RIN: 1505–AA74 NPRM Comment 05/01/01 66 FR 12440 Period Extended Regulatory Flexibility Analysis Required: 2411. FINANCIAL ACTIVITIES OF Next Action Undetermined No FINANCIAL SUBSIDIARIES Regulatory Flexibility Analysis Government Levels Affected: None Priority: Substantive, Nonsignificant Required: No Agency Contact: Deborah Thompson Government Levels Affected: Phone: 317 298–1200 CFR Citation: Not Yet Determined None Agency Contact: RIN: Timetable: Gary W. Sutton 1505–AB11 Phone: 202 622–1976 Action Date FR Cite Fax: 202 622–1974 2416. DONATED CARGO EXEMPTION Email: [email protected] Interim Final Rule 03/20/00 65 FR 14819 FROM HARBOR MAINTENANCE FEE Interim Final Rule 03/14/00 RIN: 1505–AA84 Effective Priority: Substantive, Nonsignificant Interim Final Rule 05/15/00 CFR Citation: 19 CFR 24 Comment Period 2414. SECRETARY’S DETERMINATION End OF OTHER ACTIVITIES FINANCIAL IN Timetable: Next Action Undetermined NATURE Action Date FR Cite Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant Interim Final Rule 01/08/92 57 FR 607 Required: No CFR Citation: 12 CFR 1501.2 Interim Final Rule 01/08/92 Effective Government Levels Affected: None Timetable: Interim Final Rule 03/09/92 Agency Contact: Gary W. Sutton Action Date FR Cite Comment Period Phone: 202 622–1976 End Interim Final Rule 01/02/01 66 FR 257 Fax: 202 622–1974 Final Action To Be Determined Email: [email protected] Interim Final Rule 01/02/01 Effective Regulatory Flexibility Analysis RIN: 1505–AA80 Interim Final Rule 02/02/01 Required: No Comment Period Government Levels Affected: End None 2412. FINANCIAL SUBSIDIARIES Next Action Undetermined Agency Contact: Deborah Thompson Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis Phone: 317 298–1200 CFR Citation: Not Yet Determined Required: No RIN: 1505–AB12

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TREAS—DO Long-Term Actions

2417. RECONCILIATION 2418. NORTH AMERICAN FREE Action Date FR Cite Priority: Substantive, Nonsignificant TRADE AGREEMENT (NAFTA)— IMPLEMENTATION OF Interim Final Rule 04/01/96 CFR Citation: 19 CFR 142; 19 CFR 159 DUTY–DEFERRAL PROGRAM Comment Period Timetable: PROVISIONS End Final Action To Be Determined Action Date FR Cite Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis NPRM To Be Determined CFR Citation: 19 CFR 181; 19 CFR 113; Required: No Regulatory Flexibility Analysis 19 CFR 141; 19 CFR 144; 19 CFR 10 Required: No Timetable: Government Levels Affected: None Government Levels Affected: None Action Date FR Cite Agency Contact: Shawn Filion Agency Contact: John Leonard Interim Final Rule 01/01/96 Phone: 716 551–3053 Phone: 202 344–2687 Effective RIN: 1505–AB16 Interim Final Rule 01/30/96 61 FR 2908 RIN: 1505–AB17

Department of the Treasury (TREAS) Completed Actions Departmental Offices (DO)

2419. BANK ENTERPRISE AWARD Email: [email protected] Government Levels Affected: Federal (BEA) PROGRAM RIN: 1505–AA92 Agency Contact: Thomas M. McGivern Priority: Substantive, Nonsignificant Phone: 202 622–2317 Fax: 202 622–2961 CFR Citation: 12 CFR 1806 2421. AMENDMENTS TO THE Email: [email protected] Completed: GOVERNMENT SECURITIES ACT REGULATIONS: CUSTOMER RIN: 1505–AA97 Reason Date FR Cite PROTECTION–RESERVES AND Withdrawn – No 09/13/04 CUSTODY OF SECURITIES 2423. TERRORISM RISK INSURANCE Further Action Anticipated Priority: Substantive, Nonsignificant PROGRAM; INITIAL CLAIMS PROCEDURE REQUIREMENTS Regulatory Flexibility Analysis CFR Citation: 17 CFR 403.4 Required: No Completed: Priority: Other Significant Small Entities Affected: No Reason Date FR Cite CFR Citation: 31 CFR 50 Completed: Government Levels Affected: None Final Action 06/14/04 69 FR 33258 Agency Contact: Jeffrey C. Berg Regulatory Flexibility Analysis Reason Date FR Cite Phone: 202 622–8530 Required: No Final Rule 06/29/04 69 FR 39296 Fax: 202 622–8244 Government Levels Affected: None Final Rule Effective 07/29/04 Email: [email protected] Agency Contact: Lori Santamorena Regulatory Flexibility Analysis RIN: 1505–AA91 Phone: 202 504–3632 Required: No Fax: 202 504–3639 Government Levels Affected: None 2420. COMMUNITY DEVELOPMENT Email: [email protected] Agency Contact: Howard Leikin FINANCIAL INSTITUTIONS (CDFI) Phone: 202 622–6770 PROGRAM Kevin Hawkins Phone: 202 504–3632 RIN: 1505–AB07 Priority: Substantive, Nonsignificant Fax: 202–504–3639 CFR Citation: 12 CFR 1805 Email: [email protected] 2424. TERRORISM RISK INSURANCE Completed: RIN: 1505–AA94 PROGRAM; LITIGATION Reason Date FR Cite MANAGEMENT Interim Final Rule 05/11/04 69 FR 26260 2422. DISCLOSURE OF RECORDS IN Priority: Other Significant Interim Final Rule 07/12/04 LITIGATION CFR Citation: 31 CFR 50 Comment Period Priority: Substantive, Nonsignificant Completed: End Withdrawn 09/13/04 CFR Citation: 31 CFR 1.8 to 1.12 Reason Date FR Cite Completed: Regulatory Flexibility Analysis NPRM 05/06/04 69 FR 25341 Required: No Reason Date FR Cite Final Rule 07/28/04 69 FR 44932 Government Levels Affected: None Final Rule 09/07/04 69 FR 54002 Final Rule Effective 08/27/04 Agency Contact: Jeffrey C. Berg Final Rule Effective 09/07/04 Regulatory Flexibility Analysis Phone: 202 622–8530 Regulatory Flexibility Analysis Required: No Fax: 202 622–8244 Required: No Government Levels Affected: None

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TREAS—DO Completed Actions

Agency Contact: C. Christopher Agency Contact: William G. Rosoff Reason Date FR Cite Ledoux Phone: 202 572–8807 Phone: 202 622–6813 Interim Final Rule 04/28/97 RIN: 1505–AB14 Comment Period RIN: 1505–AB08 End 2427. DETENTION, SEIZURE, AND Withdrawn 09/15/04 2425. TEXTILES AND TEXTILE FORFEITURE OF ‘‘BOOTLEG’’ SOUND Regulatory Flexibility Analysis PRODUCTS SUBJECT TO TEXTILE RECORDING AND MUSIC VIDEOS OF Required: No TRADE AGREEMENTS LIVE MUSICAL PERFORMANCES Government Levels Affected: None Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant Agency Contact: Carol McDaniel CFR Citation: 19 CFR 12 CFR Citation: 19 CFR 12; 19 CFR 24; Phone: 202 344–1131 Completed: 19 CFR 133 Related RIN: Related to 1515–AC62 Reason Date FR Cite Completed: Withdrawn 09/15/04 Reason Date FR Cite RIN: 1505–AB18 Regulatory Flexibility Analysis Withdrawn 09/15/04 2429. ENTRY OF SOFTWOOD Required: No Regulatory Flexibility Analysis LUMBER SHIPMENTS FROM CANADA Government Levels Affected: None Required: No Agency Contact: Brian Fennessy Government Levels Affected: None Priority: Substantive, Nonsignificant Phone: 202 344–2272 Agency Contact: George F. McCray CFR Citation: 19 CFR 12 RIN: 1505–AB13 Phone: 202 572–8709 Completed: RIN: 1505–AB15 Reason Date FR Cite 2426. LIQUIDATION; EXTENSION; SUSPENSION Withdrawn 09/15/04 2428. ENTRY OF SOFTWOOD Priority: Substantive, Nonsignificant LUMBER SHIPMENTS FROM CANADA Regulatory Flexibility Analysis Required: No CFR Citation: 19 CFR 159 Priority: Substantive, Nonsignificant Government Levels Affected: None Completed: CFR Citation: 19 CFR 12; 19 CFR 113 Reason Date FR Cite Completed: Agency Contact: Carol McDaniel Phone: 202 344–1131 Withdrawn 09/15/04 Reason Date FR Cite Related RIN: Related to 1505–AB18 Regulatory Flexibility Analysis Interim Final Rule 02/26/97 62 FR 8620 Required: No Interim Final Rule 02/26/97 RIN: 1505–AB23 Government Levels Affected: None Effective BILLING CODE 4810–25–S

Department of the Treasury (TREAS) Prerule Stage Financial Crimes Enforcement Network (FINCEN)

2430. 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 06/00/05 RIN: 1506–AA39

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Department of the Treasury (TREAS) Proposed Rule Stage Financial Crimes Enforcement Network (FINCEN)

2431. 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. CFR Citation: Fax: 703 905–3735 31 CFR 103 Timetable: Legal Deadline: None RIN: 1506–AA38 Action Date FR Cite Abstract: This notice of proposed rulemaking proposes to delegate to the 2433. CUSTOMER IDENTIFICATION ANPRM 02/24/03 68 FR 8568 appropriate Federal banking regulatory PROGRAMS FOR LOAN AND ANPRM Comment 04/10/03 Period End agencies the authority to assess civil FINANCE COMPANIES NPRM 06/00/05 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 Timetable: Agency Contact: Office of the Chief Abstract: This regulation will require Counsel, Department of the Treasury, Action Date FR Cite loan and finance companies to adopt Financial Crimes Enforcement Network, NPRM 06/00/05 and implement reasonable procedures P.O. Box 39, Vienna, VA 22183 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: Government Levels Affected: Federal maintain records of the information 1506–AA41 Agency Contact: Office of the Chief used to verify the person’s identity; and Counsel, Department of the Treasury, determine whether the person appears 2435. AMENDMENTS TO THE BANK Financial Crimes Enforcement Network, on any lists of known or suspected SECRECY ACT REGULATIONS— P.O. Box 39, Vienna, VA 22183 terrorists or terrorist organizations ANTI–MONEY LAUNDERING Phone: 703 905–3590 provided to them by any Government PROGRAMS FOR TRAVEL AGENCIES agency. Fax: 703 905–3735 Priority: Substantive, Nonsignificant Timetable: RIN: 1506–AA08 Legal Authority: 31 USC 5316(h) Action Date FR Cite CFR Citation: 31 CFR 103.65; 31 CFR 2432. CUSTOMER IDENTIFICATION NPRM 06/00/05 103.66; 31 CFR 103.67 PROGRAMS FOR TRAVEL AGENTS Regulatory Flexibility Analysis Legal Deadline: Final, Statutory, April Priority: Required: Substantive, Nonsignificant Undetermined 24, 2002, PL 107–56, sec 352. Legal Authority: PL 107–56, sec 326 Government Levels Affected: None Abstract: FinCEN will issue a series of CFR Citation: Not Yet Determined Agency Contact: Office of the Chief regulations regarding anti-money Legal Deadline: None Counsel, Department of the Treasury, laundering program requirements for Financial Crimes Enforcement Network, Abstract: This regulation will require travel agencies, as defined in the Bank P.O. Box 39, Vienna, VA 22183 Secrecy Act. travel agents to adopt and implement Phone: 703 905–3590 reasonable procedures to verify the Fax: 703 905–3735 Timetable: identity of any person seeking to open Action Date FR Cite an account, to the extent reasonable RIN: 1506–AA40 and practicable; maintain records of the NPRM 06/00/05 information used to verify the person’s 2434. CUSTOMER IDENTIFICATION Regulatory Flexibility Analysis identity; and determine whether the PROGRAMS FOR SELLERS OF Required: No person appears on any lists of known VEHICLES or suspected terrorists or terrorist Government Levels Affected: None Priority: Substantive, Nonsignificant organizations provided to them by any Agency Contact: Office of the Chief Government agency. Legal Authority: PL 107–56, sec 326 Counsel, Department of the Treasury, Timetable: CFR Citation: Not Yet Determined Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183 Action Date FR Cite Legal Deadline: None Phone: 703 905–3590 ANPRM 02/24/03 68 FR 8571 Abstract: This regulation will require Fax: 703 905–3735 ANPRM Comment 04/10/03 sellers of vehicles to adopt and Related RIN: Split from 1506–AA28 Period End implement reasonable procedures to NPRM 06/00/05 verify the identity of any person RIN: 1506–AA69

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TREAS—FINCEN Proposed Rule Stage

2436. AMENDMENTS TO THE BANK 2437. AMENDMENTS TO THE BANK 2438. AMENDMENTS TO THE BANK SECRECY ACT REGULATIONS— SECRECY ACT REGULATIONS— SECRECY ACT REGULATIONS— ANTI–MONEY LAUNDERING ANTI–MONEY LAUNDERING ANTI–MONEY LAUNDERING PROGRAMS FOR LOAN AND PROGRAMS FOR PERSONS PROGRAMS FOR BUSINESSES FINANCE COMPANIES INVOLVED IN REAL ESTATE ENGAGED IN VEHICLE SALES, CLOSINGS AND SETTLEMENTS INCLUDING AUTOMOBILES, Priority: Substantive, Nonsignificant AIRPLANE, AND BOAT SALES Priority: Substantive, Nonsignificant Legal Authority: 31 USC 5316(h) Priority: Substantive, Nonsignificant Legal Authority: 31 USC 5316(h) Legal Authority: CFR Citation: 31 CFR 103.65; 31 CFR 31 USC 5316(h) CFR Citation: 31 CFR 103.65; 31 CFR 103.66; 31 CFR 103.67 CFR Citation: 31 CFR 103.65; 31 CFR 103.66; 31 CFR 103.67 103.66; 31 CFR 103.67 Legal Deadline: Final, Statutory, April Legal Deadline: Final, Statutory, April 24, 2002, PL 107–56, sec 352. Legal Deadline: Final, Statutory, April 24, 2002, PL 107–56, sec 352. 24, 2002, PL 107–56, sec 352. Abstract: FinCEN will issue a series of Abstract: FinCEN will issue a series of Abstract: FinCEN will issue a series of regulations regarding anti-money regulations regarding anti-money regulations regarding anti-money laundering program requirements for laundering program requirements for laundering program requirements for loan and finance companies, as defined persons involved in real estate closings businesses engaged in vehicle sales, in the Bank Secrecy Act. and settlements, as defined in the Bank including automobile, airplane, and Timetable: Secrecy Act. boat sales, as defined in the Bank Secrecy Act. Action Date FR Cite Timetable: Timetable: Action Date FR Cite NPRM 06/00/05 Action Date FR Cite NPRM 06/00/05 Regulatory Flexibility Analysis NPRM 06/00/05 Required: No Regulatory Flexibility Analysis Required: No Regulatory Flexibility Analysis Government Levels Affected: None Required: No Government Levels Affected: None Government Levels Affected: None Agency Contact: Office of the Chief Agency Contact: Office of the Chief Counsel, Department of the Treasury, Agency Contact: Office of the Chief Counsel, Department of the Treasury, Counsel, Department of the Treasury, Financial Crimes Enforcement Network, Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183 Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183 P.O. Box 39, Vienna, VA 22183 Phone: 703 905–3590 Phone: 703 905–3590 Fax: 703 905–3735 Phone: 703 905–3590 Fax: 703 905–3735 Fax: 703 905–3735 Related RIN: Split from 1506–AA28 Related RIN: Split from 1506–AA28 Related RIN: Split from 1506–AA28 RIN: 1506–AA73 RIN: 1506–AA79 RIN: 1506–AA80

Department of the Treasury (TREAS) Final Rule Stage Financial Crimes Enforcement Network (FINCEN)

2439. AMENDMENT TO THE BANK Timetable: 2440. AMENDMENT TO THE BANK SECRECY ACT REGULATIONS Action Date FR Cite SECRECY ACT REGULATIONS— REGARDING REPORTING OF EXEMPTIONS FROM THE CROSS–BORDER TRANSPORTATION NPRM 01/22/97 62 FR 3249 REQUIREMENT TO REPORT OF CERTAIN MONETARY NPRM Comment 04/22/97 TRANSACTIONS IN CURRENCY Period End INSTRUMENTS Final Action 06/00/05 Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis Legal Authority: 12 USC 1829b; 12 Required: No USC 1951 to 1959; 31 USC 5311 to Legal Authority: 31 USC 5312(a)(3), 5330 Bank Secrecy Act Government Levels Affected: None CFR Citation: 31 CFR 103 CFR Citation: 31 CFR 103 Agency Contact: Office of the Chief Legal Deadline: None Counsel, Department of the Treasury, Legal Deadline: None Financial Crimes Enforcement Network, Abstract: This document contains an interim final rule that further reforms Abstract: This rule will require P.O. Box 39, Vienna, VA 22183 and simplifies the process by which reporting of cross-border transportation Phone: 703 905–3590 Fax: 703 905–3735 depository institutions may exempt of certain negotiable instruments. transactions of retail and other RIN: 1506–AA15 businesses from the requirement to

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TREAS—FINCEN Final Rule Stage

report transactions in currency in Regulatory Flexibility Analysis Phone: 703 905–3590 excess of $10,000. The interim final Required: No Fax: 703 905–3735 rule is part of a continuing program to Government Levels Affected: None RIN: 1506–AA29 reduce unnecessary burdens upon financial institutions complying with Agency Contact: Office of the Chief the Bank Secrecy Act and increase the Counsel, Department of the Treasury, 2443. CUSTOMER IDENTIFICATION cost-effectiveness of the counter-money Financial Crimes Enforcement Network, PROGRAMS FOR BANKS, SAVINGS laundering policies of the Department P.O. Box 39, Vienna, VA 22183 ASSOCIATIONS, AND CREDIT UNIONS Phone: 703 905–3590 of the Treasury. Priority: Fax: 703 905–3735 Substantive, Nonsignificant Timetable: Legal Authority: RIN: 1506–AA25 31 USC 5318(l) Action Date FR Cite CFR Citation: 31 CFR 103.121 Interim Final Rule 07/28/00 65 FR 46356 2442. DUE DILIGENCE Legal Deadline: Final, Statutory, Interim Final Rule 07/31/00 REQUIREMENTS FOR October 25, 2002, Public Law 107–56, Effective CORRESPONDENT ACCOUNTS AND sec 352. Interim Final Rule 09/26/00 Comment Period PRIVATE BANKING ACCOUNTS Abstract: This notice of proposed End Priority: Substantive, Nonsignificant rulemaking proposes to require banks, Final Action 06/00/05 savings associations, and credit unions Legal Authority: 31 USC 5318(i) Regulatory Flexibility Analysis to establish written customer CFR Citation: 31 CFR 103.175 to identification programs. Required: No 103.178 Timetable: Small Entities Affected: No Legal Deadline: Final, Statutory, July Action Date FR Cite Government Levels Affected: None 23, 2002, Public Law 107–56, sec 312. NPRM 07/23/02 67 FR 48290 Abstract: Agency Contact: Office of the Chief Section 5318(i) of 31 U.S.C., NPRM Comment 09/06/02 Counsel, Department of the Treasury, added by section 312 of the Uniting Period End Financial Crimes Enforcement Network, and Strengthening America by NPRM 05/09/03 68 FR 25163 P.O. Box 39, Vienna, VA 22183 Providing Appropriate Tools Required Final Action 05/09/03 68 FR 25090 Phone: 703 905–3590 to Intercept and Obstruct Terrorism Act NPRM Comment 06/23/03 Fax: 703 905–3735 (USA PATRIOT Act) of 2001, requires Period End U.S. financial institutions to establish RIN: 1506–AA23 Final Action 06/00/05 due diligence policies, procedures, and controls reasonably designed to detect Regulatory Flexibility Analysis 2441. AMENDMENT TO THE BANK and report money laundering through Required: No SECRECY ACT REGULATIONS— correspondent accounts and private Government Levels Affected: None banking accounts that U.S. financial REQUIREMENT THAT NONFINANCIAL Agency Contact: Office of the Chief institutions establish or maintain for TRADES OR BUSINESSES REPORT Counsel, Department of the Treasury, non-U.S. persons. Section 312 takes CERTAIN CURRENCY Financial Crimes Enforcement Network, effect on July 23, 2002, whether or not TRANSACTIONS P.O. Box 39, Vienna, VA 22183 Treasury has issued a final rule Priority: Substantive, Nonsignificant Phone: 703 905–3590 implementing that provision. Legal Authority: Fax: 703 905–3735 12 USC 1829b; 12 Timetable: USC 1951 to 1959; 31 USC 5311 et seq; RIN: 1506–AA31 PL 107–56 Action Date FR Cite CFR Citation: 31 CFR 103.30 NPRM 05/30/02 67 FR 37736 2444. FINANCIAL CRIMES NPRM Comment 07/01/02 ENFORCEMENT NETWORK; Legal Deadline: Final, Statutory, April Period End AMENDMENT TO THE BANK 26, 2002, Interim final rule published Interim Final Rule 07/23/02 67 FR 48347 SECRECY ACT REGULATIONS December 31, 2001. Interim Final Rule 07/23/02 REQUIREMENT THAT INSURANCE Abstract: This document contains an Effective COMPANIES REPORT SUSPICIOUS interim final rule amending the Bank Interim Final Rule 08/22/02 TRANSACTIONS Secrecy Act regulations to require Comment Period End Priority: Substantive, Nonsignificant certain persons to report currency Final Action 12/00/04 received in the course of their trade or Legal Authority: 12 USC 1829b; 12 business. Regulatory Flexibility Analysis USC 1951 to 1959; 31 USC 5311 to Required: No 5332 Timetable: Small Entities Affected: No CFR Citation: 31 CFR 103.16 Action Date FR Cite Government Levels Affected: None Legal Deadline: None NPRM 12/31/01 66 FR 67685 Interim Final Rule 12/31/01 66 FR 67680 Agency Contact: Office of the Chief Abstract: This document will require NPRM Comment 03/01/02 Counsel, Department of the Treasury, insurance companies to report Period End Financial Crimes Enforcement Network, suspicious transactions to the Final Action 06/00/05 P.O. Box 39, Vienna, VA 22183 Department of the Treasury. The

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TREAS—FINCEN Final Rule Stage

amendments constitute a further step in Regulatory Flexibility Analysis structure of the Department of the the creation of a comprehensive system Required: No Treasury. for the reporting of suspicious Government Levels Affected: None transactions by the major categories of Timetable: Agency Contact: Office of the Chief financial institutions operating in the Action Date FR Cite United States as a part of the counter- Counsel, Department of the Treasury, Final Action 06/00/05 money laundering program of the Financial Crimes Enforcement Network, Department of the Treasury. P.O. Box 39, Vienna, VA 22183 Phone: 703 905–3590 Regulatory Flexibility Analysis Timetable: Fax: 703 905–3735 Required: No Action Date FR Cite RIN: 1506–AA37 Small Entities Affected: No NPRM 10/17/02 67 FR 64067 Government Levels Affected: None NPRM Comment 12/16/02 2446. IMPOSITION OF SPECIAL Period End MEASURES AGAINST THE COUNTRY Agency Contact: Office of the Chief Final Action 12/00/04 OF NAURU Counsel, Department of the Treasury, Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant Financial Crimes Enforcement Network, Required: No P.O. Box 39, Vienna, VA 22183 Legal Authority: PL 107–56, sec 311; Phone: 703 905–3590 Government Levels Affected: None 31 USC 5318A Fax: 703 905–3735 Agency Contact: Office of the Chief CFR Citation: 31 CFR 103.184 RIN: 1506–AA61 Counsel, Department of the Treasury, Legal Deadline: None Financial Crimes Enforcement Network, Abstract: This rule will impose P.O. Box 39, Vienna, VA 22183 ‘‘special measures’’ against Nauru. 2448. IMPOSITION OF SPECIAL Phone: 703 905–3590 Nauru was previously designated as a MEASURES AGAINST THE Fax: 703 905–3735 country of primary money laundering COMMERCIAL BANK OF SYRIA AS A FINANCIAL INSTITUTION OF PRIMARY RIN: 1506–AA36 concern pursuant to section 311 of the USA PATRIOT Act on December 20, MONEY LAUNDERING CONCERN 2002, a prerequisite for the imposition Priority: Substantive, Nonsignificant 2445. AMENDMENT TO THE BANK of special measures. SECRECY ACT REGULATIONS— Legal Authority: 31 USC 5318A REQUIREMENT THAT MUTUAL Timetable: FUNDS REPORT SUSPICIOUS Action Date FR Cite CFR Citation: 31 CFR 103.188 TRANSACTIONS NPRM 04/17/03 68 FR 18914 Legal Deadline: None Priority: Substantive, Nonsignificant NPRM Comment 05/19/03 Period End Abstract: This document will prohibit Legal Authority: 12 USC 1829b; 12 Final Action 06/00/05 USC 1951 to 1959; 31 USC 5311 to certain U.S. financial institutions from Regulatory Flexibility Analysis 5331; PL 107–56 maintaining correspondent or payable- Required: No through accounts in the United States CFR Citation: 31 CFR 103.15 Government Levels Affected: None for, or on behalf of, a foreign bank Legal Deadline: None determined to be of primary money Agency Contact: Office of the Chief laundering concern. Abstract: This document contains an Counsel, Department of the Treasury, amendment to the regulations Financial Crimes Enforcement Network, Timetable: P.O. Box 39, Vienna, VA 22183 implementing the statute generally Action Date FR Cite known as the Bank Secrecy Act. The Phone: 703 905–3590 amendment would require mutual Fax: 703 905–3735 NPRM 05/18/04 69 FR 28098 funds to report suspicious transactions RIN: 1506–AA43 NPRM Comment 06/17/04 to the Department of the Treasury. The Period End amendment constitutes a further step in Final Action 06/00/05 2447. FINANCIAL CRIMES the creation of a comprehensive system ENFORCEMENT; AMENDMENTS TO Regulatory Flexibility Analysis for the reporting of suspicious THE BANK SECRECY ACT Required: No transactions by the major categories of REGULATIONS—NOMENCLATURE financial institutions operating in the Small Entities Affected: No CHANGES United States, as part of the counter- money laundering program of the Priority: Info./Admin./Other. Major Government Levels Affected: None status under 5 USC 801 is Department of the Treasury. Agency Contact: undetermined. Office of the Chief Timetable: Counsel, Department of the Treasury, Legal Authority: 31 USC 5318 et seq Action Date FR Cite Financial Crimes Enforcement Network, CFR Citation: 31 CFR 103 P.O. Box 39, Vienna, VA 22183 NPRM 01/21/03 68 FR 2716 Legal Deadline: None Phone: 703 905–3590 NPRM Comment 03/24/03 Fax: 703 905–3735 Period End Abstract: This document amends 31 Final Action 01/00/05 CFR part 103 to reflect changes to the RIN: 1506–AA64

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TREAS—FINCEN Final Rule Stage

2449. IMPOSITION OF SPECIAL Action Date FR Cite CFR Citation: 31 CFR 103.65; 31 CFR MEASURE AGAINST FIRST 103.66; 31 CFR 103.67 MERCHANT BANK OSH LTD, INCL. NPRM Comment 09/23/04 Legal Deadline: Final, Statutory, April ITS SUBSIDIARIES, FMB FINANCE Period End 24, 2002, PL 107–56, sec 352. LTD, FIRST MERCHANT Final Action 06/00/05 INTERNATIONAL INC, FIRST Regulatory Flexibility Analysis Abstract: FinCEN will issue a series of MERCHANT FINANCE LTD, AND Required: No regulations regarding anti-money FIRST MERCHANT TRUST LTD laundering program requirements for Small Entities Affected: No Priority: insurance companies, as defined in the Substantive, Nonsignificant. Government Levels Affected: None Major status under 5 USC 801 is Bank Secrecy Act. undetermined. Agency Contact: Office of the Chief Timetable: Counsel, Department of the Treasury, Legal Authority: 31 USC 5318A Financial Crimes Enforcement Network, Action Date FR Cite CFR Citation: 31 CFR 103.189 P.O. Box 39, Vienna, VA 22183 Final Action 12/00/04 Legal Deadline: None Phone: 703 905–3590 Regulatory Flexibility Analysis Fax: 703 905–3735 Abstract: This document will prohibit Required: No RIN: 1506–AA67 certain U.S. financial institutions from Government Levels Affected: None maintaining correspondent or payable- Agency Contact: Office of the Chief through accounts in the United States 2451. AMENDMENTS TO THE BANK for, or on behalf of, a foreign bank Counsel, Department of the Treasury, SECRECY ACT REGULATIONS— determined to be of primary money Financial Crimes Enforcement Network, ANTI–MONEY LAUNDERING laundering concern. P.O. Box 39, Vienna, VA 22183 PROGRAMS FOR MUTUAL FUNDS Timetable: Phone: 703 905–3590 Priority: Substantive, Nonsignificant. Fax: 703 905–3735 Action Date FR Cite Major status under 5 USC 801 is Related RIN: Split from 1506–AA28 NPRM 08/24/04 69 FR 51979 undetermined. RIN: 1506–AA70 NPRM Comment 09/23/04 Legal Authority: 31 USC 5316(h) Period End Final Action 06/00/05 CFR Citation: 31 CFR 103.65; 31 CFR 103.66; 31 CFR 103.67 2453. AMENDMENTS TO THE BANK Regulatory Flexibility Analysis SECRECY ACT REGULATIONS— Required: No Legal Deadline: Final, Statutory, April ANTI–MONEY LAUNDERING 24, 2002, PL 107–56, sec 352. Small Entities Affected: No PROGRAMS FOR INVESTMENT Abstract: FinCEN will issue a series of ADVISORS Government Levels Affected: None regulations regarding anti-money Priority: Substantive, Nonsignificant Agency Contact: Office of the Chief laundering program requirements for Counsel, Department of the Treasury, mutual funds, as defined in the Bank Legal Authority: 31 USC 5316(h) Financial Crimes Enforcement Network, Secrecy Act. CFR Citation: 31 CFR 103.65; 31 CFR P.O. Box 39, Vienna, VA 22183 Timetable: 103.66; 31 CFR 103.67 Phone: 703 905–3590 Fax: 703 905–3735 Action Date FR Cite Legal Deadline: Final, Statutory, April 24, 2002, PL 107–56, sec 352. RIN: 1506–AA65 Final Action 06/00/05 Abstract: FinCEN will issue a series of Regulatory Flexibility Analysis regulations regarding anti-money Required: No 2450. IMPOSITION OF SPECIAL laundering program requirements for MEASURE AGAINST INFOBANK AS A Government Levels Affected: None investment advisors, as defined in the FINANCIAL INSTITUTION OF PRIMARY Bank Secrecy Act. MONEY LAUNDERING CONCERN Agency Contact: Office of the Chief Counsel, Department of the Treasury, Timetable: Priority: Substantive, Nonsignificant Financial Crimes Enforcement Network, Action Date FR Cite Legal Authority: 31 USC 5318A P.O. Box 39, Vienna, VA 22183 CFR Citation: 31 CFR 103.190 Phone: 703 905–3590 Final Action 06/00/05 Fax: 703 905–3735 Legal Deadline: None Regulatory Flexibility Analysis Related RIN: Split from 1506–AA28 Required: No Abstract: This document will prohibit certain U.S. financial institutions from RIN: 1506–AA68 Government Levels Affected: None maintaining correspondent or payable- Agency Contact: Office of the Chief through accounts in the United States 2452. AMENDMENTS TO THE BANK Counsel, Department of the Treasury, for, or on behalf of, a foreign financial SECRECY ACT REGULATIONS— Financial Crimes Enforcement Network, institution determined to be of primary ANTI–MONEY LAUNDERING P.O. Box 39, Vienna, VA 22183 money laundering concern. PROGRAMS FOR INSURANCE Phone: 703 905–3590 Timetable: COMPANIES Fax: 703 905–3735 Action Date FR Cite Priority: Substantive, Nonsignificant Related RIN: Split from 1506–AA28 NPRM 08/24/04 69 FR 51973 Legal Authority: 31 USC 5316(h) RIN: 1506–AA71

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2454. AMENDMENTS TO THE BANK Financial Crimes Enforcement Network, Timetable: SECRECY ACT REGULATIONS— P.O. Box 39, Vienna, VA 22183 Action Date FR Cite ANTI–MONEY LAUNDERING Phone: 703 905–3590 PROGRAMS FOR FINANCIAL Fax: 703 905–3735 Final Action 06/00/05 INSTITUTIONS Related RIN: Split from 1506–AA28 Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant Required: No RIN: 1506–AA74 Legal Authority: 31 USC 5316(h) Government Levels Affected: None Agency Contact: Office of the Chief CFR Citation: 31 CFR 103.65; 31 CFR 2456. AMENDMENTS TO THE BANK 103.66; 31 CFR 103.67 Counsel, Department of the Treasury, SECRECY ACT REGULATIONS— Financial Crimes Enforcement Network, Legal Deadline: Final, Statutory, April ANTI–MONEY LAUNDERING P.O. Box 39, Vienna, VA 22183 24, 2002, PL 107–56, sec 352. PROGRAMS FOR COMMODITY Phone: 703 905–3590 Abstract: FinCEN will issue a series of TRADING ADVISORS Fax: 703 905–3735 regulations regarding anti-money Priority: Substantive, Nonsignificant Related RIN: Split from 1506–AA28 laundering program requirements for financial institutions, as defined in the Legal Authority: 31 USC 5316(h) RIN: 1506–AA76 Bank Secrecy Act. CFR Citation: 31 CFR 103.65; 31 CFR Timetable: 103.66; 31 CFR 103.67 2458. AMENDMENTS TO THE BANK Action Date FR Cite Legal Deadline: Final, Statutory, April SECRECY ACT REGULATIONS— 24, 2002, PL 107–56, sec 352. ANTI–MONEY LAUNDERING Final Action 06/00/05 PROGRAMS FOR UNREGISTERED Regulatory Flexibility Analysis Abstract: FinCEN will issue a series of INVESTMENT COMPANIES Required: No regulations regarding anti-money laundering program requirements for Priority: Substantive, Nonsignificant Government Levels Affected: None commodity trading advisors, as defined Legal Authority: 31 USC 5316(h) Agency Contact: Office of the Chief in the Bank Secrecy Act. CFR Citation: 31 CFR 103.65; 31 CFR Counsel, Department of the Treasury, Timetable: 103.66; 31 CFR 103.67 Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183 Action Date FR Cite Legal Deadline: Final, Statutory, April 24, 2002, PL 107–56, sec 352. Phone: 703 905–3590 Final Action 06/00/05 Fax: 703 905–3735 Abstract: FinCEN will issue a series of Regulatory Flexibility Analysis Related RIN: Split from 1506–AA28 regulations regarding anti-money Required: No laundering program requirements for RIN: 1506–AA72 Government Levels Affected: None unregistered investment companies, as defined in the Bank Secrecy Act. Agency Contact: Office of the Chief 2455. AMENDMENTS TO THE BANK Counsel, Department of the Treasury, Timetable: SECRECY ACT REGULATIONS— Financial Crimes Enforcement Network, Action Date FR Cite ANTI–MONEY LAUNDERING P.O. Box 39, Vienna, VA 22183 PROGRAMS FOR MONEY SERVICES Phone: 703 905–3590 Final Action 06/00/05 BUSINESSES Fax: 703 905–3735 Regulatory Flexibility Analysis Required: No Priority: Substantive, Nonsignificant Related RIN: Split from 1506–AA28 Legal Authority: Government Levels Affected: None 31 USC 5316(h) RIN: 1506–AA75 CFR Citation: 31 CFR 103.65; 31 CFR Agency Contact: Office of the Chief 103.66; 31 CFR 103.67 Counsel, Department of the Treasury, 2457. AMENDMENTS TO THE BANK Financial Crimes Enforcement Network, Legal Deadline: Final, Statutory, April SECRECY ACT REGULATIONS— 24, 2002, PL 107–56, sec 352. P.O. Box 39, Vienna, VA 22183 ANTI–MONEY LAUNDERING Phone: 703 905–3590 Abstract: FinCEN will issue a series of PROGRAMS FOR OPERATORS OF A Fax: 703 905–3735 regulations regarding anti-money CREDIT CARD SYSTEM Related RIN: Split from 1506–AA28, laundering program requirements for Priority: Substantive, Nonsignificant money services businesses, as defined Previously reported as 1506–AA57 in the Bank Secrecy Act. Legal Authority: 31 USC 5316(h) RIN: 1506–AA77 Timetable: CFR Citation: 31 CFR 103.65; 31 CFR Action Date FR Cite 103.66; 31 CFR 103.67 2459. AMENDMENTS TO THE BANK SECRECY ACT REGULATIONS— Final Action 06/00/05 Legal Deadline: Final, Statutory, April 24, 2002, PL 107–56, sec 352. ANTI–MONEY LAUNDERING Regulatory Flexibility Analysis PROGRAMS FOR DEALERS IN Required: No Abstract: FinCEN will issue a series of PRECIOUS METALS, STONES, OR regulations regarding anti-money JEWELS Government Levels Affected: None laundering program requirements for Agency Contact: Office of the Chief operators of a credit card system, as Priority: Substantive, Nonsignificant Counsel, Department of the Treasury, defined in the Bank Secrecy Act. Legal Authority: 31 USC 5316(h)

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CFR Citation: 31 CFR 103.65; 31 CFR jewels, as defined in the Bank Secrecy Agency Contact: Office of the Chief 103.66; 31 CFR 103.67 Act. Counsel, Department of the Treasury, Timetable: Financial Crimes Enforcement Network, 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 06/00/05 Abstract: FinCEN will issue a series of Fax: 703 905–3735 Regulatory Flexibility Analysis regulations regarding anti-money Related RIN: Split from 1506–AA28 laundering program requirements for Required: No dealers in precious metals, stones, or Government Levels Affected: None RIN: 1506–AA78

Department of the Treasury (TREAS) Long-Term Actions Financial Crimes Enforcement Network (FINCEN)

2460. 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 BILLING CODE 4820–02–S

Department of the Treasury (TREAS) Proposed Rule Stage Financial Management Service (FMS)

2461. CLAIMS ON ACCOUNT OF has been cancelled pursuant to 31 CFR Treasury Check Information System TREASURY CHECKS part 240. This regulation is being (TCIS). Priority: Substantive, Nonsignificant revised to update the regulation’s Timetable: definitions to make them consistent Legal Authority: 31 USC 321; 31 USC with the language of the revisions to Action Date FR Cite 3328; 31 USC 3331; 31 USC 3343; 31 the definitions in 31 CFR part 240. USC 3702; 31 USC 3712 NPRM 01/00/05 Other revisions will govern the use of CFR Citation: 31 CFR 245 the Check Forgery Insurance Fund Regulatory Flexibility Analysis Legal Deadline: None (Fund). The Fund is a revolving fund Required: No Abstract: Title 31 CFR part 245 governs established to settle payee claims of Government Levels Affected: Federal the issuance of replacement checks for nonreceipt where the original check has been fraudulently negotiated. The Fund Agency Contact: Ella White, Program checks drawn on the United States Analyst, Department of the Treasury, Treasury when: 1) the original check ensures that innocent payees, whose Treasury checks have been fraudulently Financial Management Service, Room has been lost, stolen, destroyed or 8D25, 3700 East–West Highway, cashed, receive replacement checks in mutilated or defaced to such an extent Hyattsville, MD 20782 a timely manner. The NPRM is on hold that it is rendered non-negotiable; 2) Phone: 202 874–8445 the original check has been negotiated pending implementation of the Email: [email protected] and paid on a forged or unauthorized Expanded Check Forgery Insurance indorsement; and 3) the original check Fund Legislation (CFIF) and the RIN: 1510–AA51

Department of the Treasury (TREAS) Final Rule Stage Financial Management Service (FMS)

2462. PAYMENTS UNDER JUDGMENT Legal Deadline: None process. This regulation currently AND PRIVATE RELIEF ACTS describes a process that involves the Abstract: This regulation governs the General Accounting Office (GAO) and Priority: Substantive, Nonsignificant procedures for securing payment for the Treasury Department. The revision money judgments against the United Legal Authority: will remove the GAO from this PL 104–53; PL States. The proposed revision will 104–316; 28 USC 2414; 28 USC 2517; description to reflect legislative update these procedures. This revision 31 USC 1304 amendments that effect this change. will benefit claimants and others in Also, the regulation currently identifies CFR Citation: 31 CFR 256 understanding the judgment payment monetary thresholds that no longer

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exist. The change will reflect the Email: [email protected] Management Service, Department of the removal of these monetary limitations. RIN: 1510–AA65 Treasury, Financial Management These revisions will make the Service, 401 14th Street SW., regulation consistent with current Washington, DC 20227 procedures for securing payment of 2464. SALARY OFFSET Phone: 202 874–6804 money judgments against the United Priority: Substantive, Nonsignificant Email: [email protected] States. Legal Authority: 5 USC 5514 RIN: 1510–AA78 Timetable: CFR Citation: 31 CFR 285.7 Action Date FR Cite Legal Deadline: None 2466. FEDERAL CLAIMS COLLECTION NPRM 01/08/96 61 FR 552 STANDARD—COLLECTION BY Abstract: This rule governs the NPRM Comment 02/07/96 INSTALLMENTS centralized computer matching of Period End Priority: Substantive, Nonsignificant Final Action 01/00/05 Federal employee records for purposes of salary offset to collect nontax Legal Authority: 31 USC 3711; 31 USC Regulatory Flexibility Analysis delinquent debt owed the Federal 3717 Required: No Government. CFR Citation: 31 CFR 901.9 Small Entities Affected: No Timetable: Legal Deadline: None Government Levels Affected: Federal Action Date FR Cite Abstract: Section 901.9, paragraph (f) Agency Contact: Vivian Cooper, Interim Final Rule 04/28/98 63 FR 23353 is being modified to state that when Director, Financial Accounting and Final Action 04/00/05 an administrative charge is being paid Services Division, Department of the out of amounts collected from the Treasury, Financial Management Regulatory Flexibility Analysis debtor, a partial or installment payment Service, Room 620D, 3700 East–West Required: No on a debt should be applied to that Highway, Hyattsville, MD 20782 Government Levels Affected: Federal charge first, then to penalties, other Phone: 202 874–8380 Agency Contact: Gerry Isenberg, administrative charges, interest, and Email: [email protected] Financial Program Specialist, Debt principal. RIN: 1510–AA52 Management Service, Department of the Timetable: Treasury, Financial Management Action Date FR Cite 2463. OFFSET OF FEDERAL Service, Room 44AB, 401 14th Street PAYMENTS (OTHER THAN TAX SW., Washington, DC 20227 Interim Final Rule 02/00/05 Phone: 202 874–7131 REFUND AND FEDERAL BENEFIT Regulatory Flexibility Analysis Fax: 202 874–7494 PAYMENTS) TO COLLECT PAST–DUE, Required: No LEGALLY ENFORCEABLE NONTAX Email: [email protected] DEBT RIN: 1510–AA70 Small Entities Affected: No Priority: Substantive, Nonsignificant Government Levels Affected: Federal, Local, State, Tribal Legal Authority: 31 USC 321; 31 USC 2465. OFFSET OF TAX REFUND 3716 PAYMENT TO COLLECT STATE Agency Contact: Gerry Isenberg, INCOME TAX OBLIGATIONS Financial Program Specialist, Debt CFR Citation: 31 CFR 285.5 Management Service, Department of the Priority: Substantive, Nonsignificant Legal Deadline: None Treasury, Financial Management Legal Authority: 26 USC 6402(e) Abstract: This rule governs the Service, Room 44AB, 401 14th Street administrative offset of Federal CFR Citation: 31 CFR 285.8 SW., Washington, DC 20227 Phone: 202 874–7131 payments by disbursing officials of the Legal Deadline: None United States. Fax: 202 874–7494 Abstract: This rule governs the offset Email: [email protected] Timetable: of Federal tax refund payments to RIN: 1510–AA91 Action Date FR Cite collect delinquent State income taxes. Timetable: Interim Final Rule 12/26/02 67 FR 78936 2467. INDORSEMENT AND PAYMENT Final Action 11/00/04 Action Date FR Cite OF CHECKS DRAWN ON THE U.S. Regulatory Flexibility Analysis NPRM 12/20/99 64 FR 71233 TREASURY Required: No Interim Final Rule 12/20/99 64 FR 71227 Priority: Substantive, Nonsignificant Government Levels Affected: Federal Final Action 04/00/05 Legal Authority: 5 USC 301; 12 USC Agency Contact: Gerry Isenberg, Regulatory Flexibility Analysis 391; 31 USC 321; 31 USC 3327; 31 USC Financial Program Specialist, Debt Required: No 3328; 31 USC 3331; 31 USC 3334; 31 Management Service, Department of the Government Levels Affected: State, USC 3343; 31 USC 3702; 31 USC 3702 Treasury, Financial Management Federal note; 31 USC 3711; 31 USC 3712; 31 Service, Room 44AB, 401 14th Street USC 3716; 31 USC 3717 SW., Washington, DC 20227 Federalism: Undetermined Phone: 202 874–7131 Agency Contact: Gerry Isenberg, CFR Citation: 31 CFR 240 Fax: 202 874–7494 Financial Program Specialist, Debt Legal Deadline: None

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TREAS—FMS Final Rule Stage

Abstract: The Interim Rule will amend Email: [email protected] 2469. ∑ PAYMENT OF FEDERAL 31 CFR part 240 in order to permit TAXES AND THE TREASURY TAX financial institutions to present Related RIN: Related to 1510–AA51 AND LOAN PROGRAM Treasury checks for payment by RIN: 1510–AA99 Priority: Substantive, Nonsignificant. providing an electronic image of the Major status under 5 USC 801 is check in lieu of the original item. The undetermined. rule will establish the terms and 2468. ∑ FEDERAL GOVERNMENT conditions that will apply to the PARTICIPATION IN THE ACH Legal Authority: 12 USC 90; 12 USC electronic image presentment of 265; 12 USC 266; 12 USC 321; 12 USC Treasury checks. In addition, the rule Priority: Substantive, Nonsignificant 323; 12 USC 332; 12 USC 391; 12 USC 1452(d); 12 USC 1464(k); 12 USC 1767; will address certain issues related to Legal Authority: 5 USC 5525; 12 USC 12 USC 1789(a); 12 USC 2013; 12 USC the presentment of substitute Treasury 391; 31 USC 321; 31 USC 3301; 31 USC checks pursuant to the Check Clearing 2122; 12 USC 3102; 12 USC 6302; 31 3302; 31 USC 3321; 31 USC 3332; 31 USC 3301 to 3304 for the 21st Century Act, including the USC 3335; 31 USC 3720 procedures that Treasury will follow CFR Citation: 31 CFR 203 upon a breach of the Act’s substitute CFR Citation: 31 CFR 210 Legal Deadline: None check warranties and the procedures that will apply if the Government Legal Deadline: None Abstract: This rule includes general revisions that will provide needed incurs a loss due to the receipt of a Abstract: FMS reviews the private updates to support operational changes substitute Treasury check rather than sector ACH operating rules on a yearly to the system used for the collection the original check. basis and adopts, changes, or declines of corporate withholding taxes and the each rule. Timetable: investment of the Government’s excess Action Date FR Cite Timetable: operating funds, and incorporate other needed updates. Interim Final Rule 11/00/04 Action Date FR Cite Timetable: Interim Final Rule 03/00/05 Regulatory Flexibility Analysis Action Date FR Cite Required: No Regulatory Flexibility Analysis Interim Final Rule 11/00/04 Required: No Small Entities Affected: No Regulatory Flexibility Analysis Government Levels Affected: Federal Government Levels Affected: Federal Required: No Agency Contact: Matthew R. Friend, Government Levels Affected: None Agency Contact: Ronald Lee Brooks, Acting Director, Settlement Services Senior Program and Policy Analyst, Agency Contact: Laura Carrico, Acting Division, Department of the Treasury, Director, Investment Management Department of the Treasury, Financial Financial Management Service, 401 Management Service, Financial Division, Department of the Treasury, 14th Street SW., Washington, DC 20227 Financial Management Service, 401 Processing Division, 3700 East–West Phone: 202 874–1251 Highway, Room 7D26, Hyattsville, MD 14th Street SW., Washington, DC 20227 Fax: 202 874–8644 Phone: 202 874–7119 20782–2294 Email: [email protected] Phone: 202 874–7573 Email: [email protected] Fax: 202 874–2294 RIN: 1510–AB00 RIN: 1510–AB01

Department of the Treasury (TREAS) Long-Term Actions Financial Management Service (FMS)

2470. OFFSET OF FEDERAL Phone: 202 874–7131 Phone: 202 874–7131 PAYMENTS (OTHER THAN TAX Fax: 202 874–7494 Fax: 202 874–7494 REFUND AND FEDERAL BENEFIT Email: [email protected] Email: [email protected] PAYMENTS) TO COLLECT PAST–DUE RIN: 1510–AA66 RIN: 1510–AA72 DEBTS OWED TO STATES (OTHER THAN CHILD SUPPORT) 2471. PUBLIC DISSEMINATION OF Priority: Substantive, Nonsignificant 2472. SURETY BOND IDENTITY OF DELINQUENT DEBTORS REIMBURSEMENT FUND CFR Citation: 31 CFR 285.6 Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant. Timetable: Next Action Undetermined CFR Citation: 31 CFR 285.14 Major status under 5 USC 801 is Regulatory Flexibility Analysis Timetable: Next Action Undetermined undetermined. Required: No Regulatory Flexibility Analysis CFR Citation: 31 CFR 223 Government Levels Affected: State Required: No Timetable: Next Action Undetermined Federalism: Undetermined Government Levels Affected: Federal Regulatory Flexibility Analysis Agency Contact: Gerry Isenberg Agency Contact: Gerry Isenberg Required: Undetermined

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TREAS—FMS Long-Term Actions

Government Levels Affected: None Agency Contact: Vivian Cooper Email: [email protected] Federalism: Undetermined Phone: 202 874–8380 RIN: 1510–AA85

Department of the Treasury (TREAS) Completed Actions Financial Management Service (FMS)

2473. FOREIGN EXCHANGE 2475. WITHHOLDING OF DISTRICT OF 2477. FEDERAL GOVERNMENT OPERATIONS COLUMBIA, STATE, CITY, AND PARTICIPATION IN THE AUTOMATED Priority: Substantive, Nonsignificant COUNTY INCOME, OR EMPLOYMENT CLEARING HOUSE (ACH) TAXES BY FEDERAL AGENCIES CFR Citation: 31 CFR 281 Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant Completed: CFR Citation: 31 CFR 210 CFR Citation: 31 CFR 215 Reason Date FR Cite Completed: Completed: Withdrawn 09/22/04 Reason Date FR Cite Reason Date FR Cite Regulatory Flexibility Analysis Withdrawn 09/22/04 Required: No Withdrawn 09/22/04 Regulatory Flexibility Analysis Government Levels Affected: Federal Regulatory Flexibility Analysis Required: No Agency Contact: Stephen Kenneally Required: No Small Entities Affected: No Phone: 202 874–6799 Small Entities Affected: No Email: [email protected] Government Levels Affected: None Government Levels Affected: Federal, Walt Henderson State, Local Agency Contact: Catherine McHugh Phone: 202 874–7497 Phone: 202 874–6705 Agency Contact: Stephen Kenneally Email: [email protected] Email: [email protected] Phone: 202 874–6799 RIN: 1510–AA48 Email: [email protected] RIN: 1510–AA97 RIN: 1510–AA90 2474. MANAGEMENT OF FEDERAL 2478. FEDERAL GOVERNMENT PARTICIPATION IN THE AUTOMATED AGENCY RECEIPTS AND 2476. PAYMENT OF FEDERAL TAXES CLEARING HOUSE (ACH) DISBURSEMENTS; OPERATION OF AND THE TREASURY TAX AND LOAN THE CASH MANAGEMENT PROGRAM Priority: Other Significant IMPROVEMENT FUND Priority: Substantive, Nonsignificant CFR Citation: 31 CFR 210 Priority: Substantive, Nonsignificant CFR Citation: 31 CFR 203 Completed: CFR Citation: 31 CFR 206 Completed: Completed: Reason Date FR Cite Reason Date FR Cite Reason Date FR Cite Withdrawn 09/22/04 Withdrawn 09/22/04 Withdrawn 09/22/04 Regulatory Flexibility Analysis Required: No Regulatory Flexibility Analysis Regulatory Flexibility Analysis Required: No Required: No Small Entities Affected: No Small Entities Affected: No Small Entities Affected: No Government Levels Affected: None Government Levels Affected: Federal Government Levels Affected: None Agency Contact: Donald Skiles Agency Contact: Stephen Kenneally Agency Contact: Catherine McHugh Phone: 202 874–6994 Phone: 202 874–6799 Phone: 202 874–7497 Email: [email protected] Email: [email protected] Email: [email protected] RIN: 1510–AA98 RIN: 1510–AA86 RIN: 1510–AA96 BILLING CODE 4810–35–S

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Department of the Treasury (TREAS) Proposed Rule Stage Alcohol and Tobacco Tax and Trade Bureau (TTB)

ALCOHOL containers that are likely to mislead Regulatory Flexibility Analysis consumers as to the identity or Required: No character of the distilled spirits, wine, 2479. PROHIBITION OF ALCOHOL or malt beverage products or to be Government Levels Affected: None BEVERAGE CONTAINERS AND confused with other (nonalcohol) food Additional Information: Transferred STANDARD OF FILL FOR DISTILLED products. SPIRITS AND WINE from RIN 1512-AB89 Timetable: Priority: Substantive, Nonsignificant Agency Contact: Lisa M. Gesser, TTB Legal Authority: 27 USC 205 Action Date FR Cite Specialist, Department of the Treasury, Alcohol and Tobacco Tax and Trade CFR Citation: 27 CFR 4; 27 CFR 5; 27 NPRM 02/09/99 64 FR 6486 Bureau, P.O. Box 128, Morganza, MD CFR 7 NPRM Comment 04/12/99 Period End 20660 Legal Deadline: None Revised 08/00/05 Phone: 301 290–1460 Abstract: TTB proposes to amend NPRM–Aggregate Fax: 301 290–1463 regulations to clarify the standards of Packaging Email: [email protected] fill for distilled spirits and wine. TTB Revised 08/00/05 also proposes to amend regulations to NPRM–Deceptive RIN: 1513–AA07 prohibit certain alcohol beverage Packaging

Administrative/Procedures 2481. DETERMINATION OF TAX AND Room 200E, 1310 G Street NW., RECORDKEEPING ON LARGE Washington, DC 20220 CIGARS Phone: 202 927–8181 ∑ 2480. AVAILABILITY OF Priority: Substantive, Nonsignificant Fax: 202 927–8525 INFORMATION Email: [email protected] Legal Authority: 27 USC 5701; 27 USC Priority: Info./Admin./Other 5702 RIN: 1513–AA16 Legal Authority: 26 USC 6103; 5 USC CFR Citation: 27 CFR 40; 27 CFR 275 552; 5 USC 552(a) 2482. PROPOSED REVISIONS TO THE Legal Deadline: None DISTILLED SPIRITS PLANT CFR Citation: Not Yet Determined Abstract: This notice incorporates most REGULATIONS Legal Deadline: None of the parts of Industry Circular 91-3, Priority: Substantive, Nonsignificant dated March 19, 1991, entitled ‘‘Large Abstract: TTB is revising and Cigar Taxes On and After January, Legal Authority: 26 USC 7805 consolidating in one new part of its 1991’’ that have not been placed in the CFR Citation: 27 CFR 19 regulations all regulatory provisions regulations. Industry Circular 91-3 Legal Deadline: None that deal with the availability of addressed questions about determining information. This new part will include the amount of tax for large cigars based Abstract: TTB is proposing to amend rules regarding the disclosure of on their sale price. In addition, this the distilled spirits plant regulations in information pursuant to the Freedom of notice proposes: 1) to give guidance on 27 CFR part 19. Many of these Information Act and the Privacy Act of tax adjustments for large cigars proposed revisions are the result of a 1974 and in connection with litigation provided at no cost in connection with petition submitted by the Distilled or other legal proceedings. a sale, and 2) recordkeeping Spirits Council of the United States requirements for persons in Puerto (DISCUS). Other proposed revisions are Timetable: Rico, who bring large cigars upon a result of TTB’s own comprehensive Action Date FR Cite prepayment or deferred payment of tax review of the regulations in 27 CFR NPRM 03/00/05 into the United States from Puerto Rico. part 19. TTB believes that the amendments proposed in this notice Timetable: Regulatory Flexibility Analysis will benefit the distilled spirits Required: No Action Date FR Cite industry by modernizing many of the NPRM 12/00/04 requirements for operating distilled Small Entities Affected: No spirits plants and thereby allow Regulatory Flexibility Analysis Government Levels Affected: None proprietors to operate in a more Required: No efficient manner. Agency Contact: Jessica Bungard, Small Entities Affected: No Management Analyst, Department of Timetable: the Treasury, Alcohol and Tobacco Tax Government Levels Affected: None Action Date FR Cite and Trade Bureau, 1310 G Street NW., Additional Information: Transferred NPRM 06/00/05 Room 200E, Washington, DC 20220 from RIN 1512-AC22 Phone: 202 927–8210 Regulatory Flexibility Analysis Agency Contact: Fax: 202 927–8525 Linda Required: No Email: [email protected] Wade–Chapman, TTB Specialist, Department of the Treasury, Alcohol Small Entities Affected: No RIN: 1513–AA98 and Tobacco Tax and Trade Bureau, Government Levels Affected: None

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TREAS—TTB Proposed Rule Stage

Additional Information: Transferred Phone: 202 927–8181 Legal Deadline: None from RIN 1512-AC52 Fax: 202 927–8525 Abstract: TTB proposes to amend the Agency Contact: Daniel J. Hiland, Email: [email protected] regulations on tax-paid distilled spirits Program Manager, Department of the RIN: 1513–AA26 used to manufacture nonbeverage Treasury, Alcohol and Tobacco Tax and products to allow manufactures to use Trade Bureau, 1310 G Street NW., natural and artificial one percent 2484. SHIPMENTS OF TOBACCO Room 200E, Washington, DC 20220 solutions without having to file Form PRODUCTS OR CIGARETTE PAPERS Phone: 202 927–8210 5154.1, Formula and Process for OR TUBES WITHOUT PAYMENT OF Fax: 202 927–8525 Nonbeverage Product. This proposal is TAX Email: [email protected] part of an ongoing effort to streamline Priority: RIN: 1513–AA23 Substantive, Nonsignificant the TTB Alcohol and Tobacco Legal Authority: 26 USC 7805 Laboratory’s flavor formula approval process. CFR Citation: 27 CFR 40; 27 CFR 275 2483. REGULATORY CHANGES FROM Timetable: CUSTOMS SERVICE FINAL RULE Legal Deadline: None Action Date FR Cite Priority: Substantive, Nonsignificant Abstract: The proposed rule clarifies NPRM 12/00/04 Legal Authority: 26 USC 7805 regulations and establishes procedures governing tobacco products or cigarette Regulatory Flexibility Analysis CFR Citation: 27 CFR 44 papers or tubes brought in bond from Required: No Legal Deadline: None Puerto Rico to the United States. In Small Entities Affected: No Abstract: The temporary rule addition, the proposed rule would Government Levels Affected: None prescribes TTB regulations relating to allow a manufacturer of tobacco a final rule (T.D. 92-181, 57 FR 37692), products to receive in bond, cigarette Additional Information: Transferred published by the former U.S. Customs papers and tubes for placement in from RIN 1512-AC73 packages of roll-your-own tobacco, and Service (USCS). The USCS published Agency Contact: Linda would eliminate filing bond extensions this final rule to create a separate class Wade–Chapman, TTB Specialist, for tobacco products and cigarette of customs bonded warehouse duty-free Department of the Treasury, Alcohol papers or tubes from the U.S. Virgin store (class 9). A class 9 customs and Tobacco Tax and Trade Bureau, Islands. bonded warehouse may receive tobacco Room 200E, 1310 G Street NW., products or cigarette papers or tubes Timetable: Washington, DC 20220 without payment of Federal excise tax. Action Date FR Cite Phone: 202 927–8181 The temporary rule prescribes the Fax: 202 927–8525 regulations that allow a manufacturer NPRM 12/00/04 Email: [email protected] of tobacco products or cigarette papers Regulatory Flexibility Analysis RIN: 1513–AA37 and tubes and an export warehouse Required: No proprietor to send such articles to a class 9 customs bonded warehouse. In Small Entities Affected: No 2486. PROPOSED ADDITION OF NEW addition, the temporary rule prescribes Government Levels Affected: None GRAPE VARIETY NAMES FOR regulations that allow a proprietor of Additional Information: Transferred AMERICAN WINES a customs bonded manufacturing from RIN 1512-AC57 Priority: Substantive, Nonsignificant warehouse to send such cigars to a class 9 customs bonded warehouse. Agency Contact: Linda Legal Authority: 27 USC 205 This notice of proposed rulemaking Wade–Chapman, TTB Specialist, CFR Citation: 27 CFR 4 invites comments on the temporary Department of the Treasury, Alcohol rule. and Tobacco Tax and Trade Bureau, Legal Deadline: None Timetable: Room 200E, 1310 G Street NW., Abstract: TTB has received petitions Washington, DC 20220 proposing to add several names to the Action Date FR Cite Phone: 202 927–8181 list of grape variety names used to NPRM 02/00/05 Fax: 202 927–8525 designate American wines. Email: [email protected] Regulatory Flexibility Analysis Timetable: RIN: 1513–AA27 Required: No Action Date FR Cite Small Entities Affected: No NPRM 03/00/05 2485. TAX–PAID DISTILLED SPIRITS Government Levels Affected: None USED IN MANUFACTURING Regulatory Flexibility Analysis Additional Information: Transferred PRODUCTS UNFIT FOR BEVERAGE Required: No from RIN 1512-AC56 USE Small Entities Affected: No Agency Contact: Linda Priority: Substantive, Nonsignificant Government Levels Affected: None Wade–Chapman, TTB Specialist, Department of the Treasury, Alcohol Legal Authority: 26 USC 5010; 26 USC Additional Information: Transferred and Tobacco Tax and Trade Bureau, 5131 to 5134; 26 USC 5143; 26 USC from RIN 1512-AC79 Room 200E, 1310 G Street NW., 5206; 26 USC 5273; . . . Agency Contact: Jennifer Berry, TTB Washington, DC 20220 CFR Citation: 27 CFR 17 Specialist, Department of the Treasury,

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TREAS—TTB Proposed Rule Stage

Alcohol and Tobacco Tax and Trade 2488. PETITION TO ESTABLISH and tubes by paying the excise tax and Bureau, P.O. Box 18152, Roanoke, VA ‘‘SANTA MARIA BENCH’’ AS A NEW subsequently filing a claim for 24014 AMERICAN VITICULTURAL AREA drawback. This notice proposes to Phone: 540 344–9333 Priority: Substantive, Nonsignificant clarify the regulations to recognize such Fax: 540 344–5855 in-transit stops and specifies records Email: [email protected] Legal Authority: 27 USC 205 that manufacturers and export RIN: 1513–AA42 CFR Citation: 27 CFR 9 warehouse proprietors maintain relating to the removals without payment of tax. Legal Deadline: None Timetable: 2487. MARKS, LABELS, NOTICES AND Abstract: TTB received a petition from BONDS FOR, AND REMOVAL OF, Cambria Winery and Vineyard Action Date FR Cite TOBACCO PRODUCTS, AND proposing to establish the ‘‘Santa Maria NPRM 12/00/04 CIGARETTE PAPERS AND TUBES Bench’’ viticultural area in Santa Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant Barbara County, California. The Required: No Legal Authority: 26 USC 5704; 26 USC petitioned viticultural area has 3,200 Small Entities Affected: No 7805 acres, with 1,500 acres planted to wine grapes, and is within the established Government Levels Affected: None CFR Citation: 27 CFR 40; 27 CFR 275 Santa Maria and the Central Coast Additional Information: Legal Deadline: None viticultural areas. Transferred from RIN 1512-AC95 Abstract: This notice of proposed Timetable: rulemaking requires labels, notices, and Agency Contact: Linda Action Date FR Cite marks for removals, in bond, of tobacco Wade–Chapman, TTB Specialist, products or cigarette papers and tubes NPRM 12/00/04 Department of the Treasury, Alcohol that are not in packages. This notice and Tobacco Tax and Trade Bureau, Regulatory Flexibility Analysis Room 200E, 1310 G Street NW., proposes new sections that prohibit the Required: No removal of tobacco products or cigarette Washington, DC 20220 papers or tubes that are not in packages Small Entities Affected: No Phone: 202 927–8181 Fax: 202 927–8525 for domestic uses. Packages are the Government Levels Affected: None immediate containers in which a Email: [email protected] Additional Information: Transferred manufacturer or importer places the RIN: 1513–AA52 tobacco products or cigarette papers or from RIN 1512-AC93 tubes for sale or delivery to the Agency Contact: Linda consumer. Also, this notice broadens Wade–Chapman, TTB Specialist, 2490. PETITION TO EXPAND THE the language for extending bonds so Department of the Treasury, Alcohol LIVERMORE VALLEY VITICULTURAL that manufacturers may receive tobacco and Tobacco Tax and Trade Bureau, AREA products, cigarette papers and tubes, Room 200E, 1310 G Street NW., Priority: Substantive, Nonsignificant without payment of tax, from Puerto Washington, DC 20220 Legal Authority: 27 USC 205 Rico. This notice may affect the Phone: 202 927–8181 operations conducted by manufacturers Fax: 202 927–8525 CFR Citation: 27 CFR 9 of tobacco products or cigarette papers Email: [email protected] Legal Deadline: None and tubes and importers of tobacco RIN: 1513–AA51 Abstract: TTB received a petition products. proposing to expand the boundaries of Timetable: approved American viticultural area 2489. IN–TRANSIT STOPS OF Livermore Valley located in the State Action Date FR Cite TOBACCO PRODUCTS, AND of California. The proposed expanded CIGARETTE PAPERS AND TUBES NPRM 12/00/04 boundaries encompass approximately WITHOUT PAYMENT OF TAX Regulatory Flexibility Analysis 259,000 acres, of which 4,355 acres are Required: No Priority: Substantive, Nonsignificant devoted to vineyards. The expansion Small Entities Affected: No Legal Authority: 26 USC 5704 would add approximately 163,000 acres, 120 acres of vineyards and four Government Levels Affected: None CFR Citation: 27 CFR 40; 27 CFR 44 wineries to the area. NPRM is being Additional Information: Transferred Legal Deadline: None reviewed. from RIN 1512-AC90 Abstract: This notice is the result of Timetable: Agency Contact: Linda a petition from the Cigar Association Action Date FR Cite Wade–Chapman, TTB Specialist, of America and the Pipe Tobacco Department of the Treasury, Alcohol Council. The petition requests that TTB NPRM 12/00/04 and Tobacco Tax and Trade Bureau, change its position regarding in-transit Regulatory Flexibility Analysis Room 200E, 1310 G Street NW., stops of tobacco products and cigarette Required: No Washington, DC 20220 papers and tubes after removal without Small Entities Affected: No Phone: 202 927–8181 payment of tax from a factory. TTB has Fax: 202 927–8525 taken the position that the law provides Government Levels Affected: None Email: [email protected] that manufacturers may remove the Additional Information: Transferred RIN: 1513–AA49 tobacco products and cigarette papers from RIN 1512-AC99

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TREAS—TTB Proposed Rule Stage

Agency Contact: Nancy Sutton, AVA the North Coast and Sonoma Coast Agency Contact: Rita Butler, Program Manager, Department of the viticultural areas. It is approximately 65 Writer–Editor, Department of the Treasury, Alcohol and Tobacco Tax and miles north-northwest from San Treasury, Alcohol and Tobacco Tax and Trade Bureau, Room 200E, 1310 G Francisco, close to the Pacific coastline. Trade Bureau, Room 200E, 1310 G Street NW., Washington, DC 20220 A significant distinguishing factor of Street NW., Washington, DC 20220 Phone: 202 927–8210 the viticultural area, based on its 920 Phone: 202 927–8210 Fax: 202 927–8525 feet and 1,800 feet elevations, is the Fax: 202 927–8525 Email: [email protected] sunny and warm growing season that Email: [email protected] RIN: 1513–AA54 contrasts to the surrounding foggy and RIN: 1513–AA66 cooler lower elevations. The draft notice of proposed rulemaking is in 2491. SAN FRANCISCO BAY AND review. 2494. PETITION NO. 2 TO EXPAND THE RUSSIAN RIVER VALLEY CENTRAL COAST VITICULTURAL Timetable: AREAS—BOUNDARY VITICULTURAL AREA Action Date FR Cite REALIGNMENT/EXPANSION Priority: Substantive, Nonsignificant NPRM 12/00/04 Priority: Substantive, Nonsignificant Legal Authority: 27 USC 205 Regulatory Flexibility Analysis Legal Authority: 27 USC 205 CFR Citation: 27 CFR 9 Required: No CFR Citation: 27 CFR 9 Legal Deadline: None Small Entities Affected: No Legal Deadline: None Abstract: The proposed Russian River Government Levels Affected: None Abstract: TTB received a petition Valley viticultural area expansion proposing an expansion/realignment of Agency Contact: Nancy Sutton, AVA increases the original boundaries by the boundaries of approved American Program Manager, Department of the 30,200 acres to the east and south viticultural areas San Francisco Bay Treasury, Alcohol and Tobacco Tax and sides. The notice of proposed and Central Coast located in the State Trade Bureau, Room 5000, Room 200E, rulemaking is in review. Earlier TTB of California. In total, the proposed 1310 G Street NW., Washington, DC received a separate Russian River expanded boundaries encompass 20220 Valley viticultural area expansion approximately 20,000 acres. The NPRM Phone: 202 927–8210 petition (RIN 1513-AA68) for a 767-acre is being reviewed. Fax: 202 927–8525 expansion. This area is incorporated in Email: [email protected] the larger 30,200-acre expansion noted Timetable: RIN: 1513–AA64 above. The final rule was effective Action Date FR Cite February 2, 2004. Timetable: NPRM 12/00/04 2493. PETITION TO ESTABLISH Regulatory Flexibility Analysis ‘‘GRAND LAKE O’ THE CHEROKEES’’ Action Date FR Cite Required: No AS A NEW AMERICAN VITICULTURAL NPRM 12/00/04 AREA Small Entities Affected: No Regulatory Flexibility Analysis Priority: Government Levels Affected: None Substantive, Nonsignificant Required: No Legal Authority: Additional Information: Transferred 27 USC 205 Small Entities Affected: No from RIN 1512-AD00 CFR Citation: 27 CFR 9 Government Levels Affected: None Agency Contact: Nancy Sutton, AVA Legal Deadline: None Agency Contact: Nancy Sutton, AVA Program Manager, Department of the Abstract: TTB received a petition Program Manager, Department of the Treasury, Alcohol and Tobacco Tax and proposing ‘‘Grand Lake O’ the Treasury, Alcohol and Tobacco Tax and Trade Bureau, Room 200E, 1310 G Cherokees’’ as a new American Trade Bureau, Room 5000, Room 200E, Street NW., Washington, DC 20220 viticultural area in Oklahoma. The 1310 G Street NW., Washington, DC Phone: 202 927–8210 proposed area is located in the 20220 Fax: 202 927–8525 northeastern region of the State. The Phone: 202 927–8210 Email: [email protected] proposed viticultural area encompasses Fax: 202 927–8525 RIN: 1513–AA55 Craig and portions of Ottawa, Delaware, Email: [email protected] and Hayes Counties. Related RIN: Related to 1513–AA68 2492. PETITION TO ESTABLISH THE Timetable: RIN: 1513–AA67 ‘‘FORT ROSS SEAVIEW’’ Action Date FR Cite VITICULTURAL AREA NPRM 04/00/05 2495. PETITION TO ESTABLISH THE Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis ‘‘SHAWNEE HILLS’’ VITICULTURAL Legal Authority: 27 USC 205 Required: No 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(e) Abstract: The proposed 27,500-acre Additional Information: Transferred CFR Citation: 27 CFR 9 Fort Ross-Seaview viticultural area is in from RIN 1512-AC97 Legal Deadline: None

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TREAS—TTB Proposed Rule Stage

Abstract: TTB requests comments Treasury, Alcohol and Tobacco Tax and Small Entities Affected: No concerning the proposed establishment Trade Bureau, Room 5000, Room 200E, Government Levels Affected: None of the ‘‘Shawnee Hills’’ viticultural area 1310 G Street NW., Washington, DC in southern Illinois. The proposed 20220 Agency Contact: Nancy Sutton, AVA Shawnee Hills viticultural area is Phone: 202 927–8210 Program Manager, Department of the approximately 80 miles long from the Fax: 202 927–8525 Treasury, Alcohol and Tobacco Tax and Ohio River on the east to the Email: [email protected] Trade Bureau, Room 200E, 1310 G Street NW., Washington, DC 20220 Mississippi River on the west, and RIN: 1513–AA72 approximately 20 miles wide from Phone: 202 927–8210 north to south. Approximately 160 Fax: 202 927–8525 acres are planted with wine varietals. 2497. PETITION TO ESTABLISH Email: [email protected] Timetable: ‘‘TEXOMA’’ AS A VITICULTURAL RIN: 1513–AA79 AREA Action Date FR Cite Priority: Substantive, Nonsignificant 2499. PROPOSED ESTABLISHMENT NPRM 01/00/05 Legal Authority: 27 USC 205 OF ALTA MESA VITICULTURAL AREA Regulatory Flexibility Analysis CFR Citation: 27 CFR 9 Priority: Substantive, Nonsignificant Required: No Legal Deadline: None Legal Authority: 27 USC 205 Small Entities Affected: No Abstract: We have received a petition CFR Citation: 27 CFR 9 Government Levels Affected: None for the establishment of a viticultural Legal Deadline: None Agency Contact: Rita Butler, area in north central Texas to be called Abstract: Writer–Editor, Department of the ‘‘Texoma.’’ The Lodi American Treasury, Alcohol and Tobacco Tax and Viticultural Areas (LAVA) Steering Timetable: Trade Bureau, Room 200E, 1310 G Committee proposes the establishment Street NW., Washington, DC 20220 Action Date FR Cite of the 55,400-acre ‘‘Alta Mesa’’ viticultural area in the north central Phone: 202 927–8210 NPRM 11/00/04 Fax: 202 927–8525 portion of the established Lodi Email: [email protected] Regulatory Flexibility Analysis viticultural area. The most Required: No distinguishing features of the area RIN: 1513–AA70 Small Entities Affected: No include ‘‘Alta Mesa,’’ a table-top landform, and San Joaquin soil series Government Levels Affected: 2496. PROPOSED AMENDED None that dominates 90 percent of the land. BOUNDARIES FOR THE SANTA LUCIA Agency Contact: Jennifer Berry, TTB The Committee is petitioning for seven HIGHLANDS AND THE ARROYO SECO Specialist, Department of the Treasury, new viticultural areas within the VITICULTURAL AREA Alcohol and Tobacco Tax and Trade original Lodi viticultural area Priority: Substantive, Nonsignificant Bureau, P.O. Box 18152, Roanoke, VA boundaries. A notice of proposed 24014 rulemaking is being reviewed. Legal Authority: 27 USC 205(e) Phone: 540 344–9333 Timetable: CFR Citation: 27 CFR 9.139; 27 CFR Fax: 540 344–5855 9.59 Email: [email protected] Action Date FR Cite Legal Deadline: None RIN: 1513–AA77 NPRM 12/00/04 Abstract: TTB requests comments Regulatory Flexibility Analysis concerning the proposed changes to the 2498. PETITION TO ESTABLISH THE Required: No boundaries of the Santa Lucia ‘‘HIGH VALLEY’’ VITICULTURAL AREA Small Entities Affected: No Highlands and Arroyo Seco viticultural Priority: Substantive, Nonsignificant Government Levels Affected: None areas located in Monterey County, California. The proposed boundary Legal Authority: 27 USC 205 Agency Contact: Nancy Sutton, AVA change extends portions of the Santa CFR Citation: 27 CFR 9 Program Manager, Department of the Luca Highlands viticultural area and Treasury, Alcohol and Tobacco Tax and Legal Deadline: None curtails the Arroyo Seco viticultural Trade Bureau, Room 5000, Room 200E, area. A notice of proposed rulemaking Abstract: TTB has received a petition 1310 G Street NW., Washington, DC is being drafted. to establish the ‘‘High Valley’’ 20220 Timetable: viticultural area, which is located about Phone: 202 927–8210 85 miles north of San Francisco, Fax: 202 927–8525 Action Date FR Cite California, on the eastern shore of Clear Email: [email protected] NPRM 12/00/04 Lake. A notice of proposed rulemaking RIN: 1513–AA82 is in TTB review. Regulatory Flexibility Analysis Timetable: Required: No 2500. PROPOSED ESTABLISHMENT Small Entities Affected: No Action Date FR Cite OF THE COSUMNES RIVER Government Levels Affected: None NPRM 12/00/04 VITICULTURAL AREA Agency Contact: Nancy Sutton, AVA Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant Program Manager, Department of the Required: No Legal Authority: 27 USC 205

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TREAS—TTB Proposed Rule Stage

CFR Citation: 27 CFR 9 Timetable: Email: [email protected] Legal Deadline: None Action Date FR Cite RIN: 1513–AA85 Abstract: The Lodi American NPRM 12/00/04 Viticultural Areas (LAVA) Steering Regulatory Flexibility Analysis 2503. PROPOSED ESTABLISHMENT Committee proposes to establish the Required: No OF JAHANT VITICULTURAL AREA 54,700-acre ‘‘Cosumnes River’’ Priority: viticultural area in the northwest Small Entities Affected: No Substantive, Nonsignificant portion of the established Lodi Government Levels Affected: None Legal Authority: 27 USC 205 viticultural area. The most CFR Citation: 27 CFR 9 distinguishing features of the area Agency Contact: Nancy Sutton, AVA include the cool and windy climate, Program Manager, Department of the Legal Deadline: None alluvial soils, and low elevation terrain. Treasury, Alcohol and Tobacco Tax and Abstract: The Lodi American The Committee is petitioning for seven Trade Bureau, Room 5000, Room 200E, Viticultural Areas (LAVA) Steering new viticultural areas within the 1310 G Street NW., Washington, DC Committee proposes the establishment boundaries of the original Lodi 20220 of the 28,000-acre ‘‘Jahant’’ viticultural viticultural area. A notice of proposed Phone: 202 927–8210 area, located in the central-west portion rulemaking is being reviewed. Fax: 202 927–8525 of the established Lodi viticultural area. Email: [email protected] Timetable: The most distinguishing features of the RIN: 1513–AA84 area are the pink Jahant loam soil with Action Date FR Cite its unique grape-growing qualities, the terrain with its river terraces and old NPRM 12/00/04 2502. PROPOSED ESTABLISHMENT floodplain deposits, and the cool, dry, Regulatory Flexibility Analysis OF MOKELUMNE RIVER and windy climate. The Committee is Required: No VITICULTURAL AREA petitioning for seven new viticultural Small Entities Affected: No Priority: Substantive, Nonsignificant areas within the boundaries of the Government Levels Affected: None Legal Authority: 27 USC 205 original Lodi viticultural area. A notice of proposed rulemaking is being Agency Contact: Nancy Sutton, AVA CFR Citation: 27 CFR 9 reviewed. Program Manager, Department of the Legal Deadline: Treasury, Alcohol and Tobacco Tax and None Timetable: Trade Bureau, Room 5000, Room 200E, Abstract: The Lodi American Action Date FR Cite 1310 G Street NW., Washington, DC Viticultural Areas (LAVA) Steering NPRM 12/00/04 20220 Committee proposes the establishment Phone: 202 927–8210 of the 85,700-acre ‘‘Mokelumne River’’ Regulatory Flexibility Analysis Fax: 202 927–8525 viticultural area in the southwest Required: No Email: [email protected] portion of the established Lodi Small Entities Affected: No RIN: 1513–AA83 viticultural area. The most distinguishing factors of the area Government Levels Affected: None include the alluvial fan with its Agency Contact: Nancy Sutton, AVA 2501. PROPOSED ESTABLISHMENT topography and geology in contrast to Program Manager, Department of the OF DEER CREEK HILLS the surrounding areas, and the cool, Treasury, Alcohol and Tobacco Tax and VITICULTURAL AREA breezy climate. The Committee is Trade Bureau, Room 5000, Room 200E, Priority: Substantive, Nonsignificant petitioning for seven new viticultural 1310 G Street NW., Washington, DC areas within the original Lodi 20220 Legal Authority: 27 USC 205 viticultural area. A notice of proposed Phone: 202 927–8210 CFR Citation: 27 CFR 9 rulemaking is being reviewed. Fax: 202 927–8525 Legal Deadline: None Timetable: Email: [email protected] RIN: Abstract: The Lodi American Action Date FR Cite 1513–AA86 Viticultural Areas (LAVA) Steering NPRM 12/00/04 Committee proposes to establish the 2504. PROPOSED ESTABLISHMENT 78,800-acre ‘‘Deer Creek Hills’’ Regulatory Flexibility Analysis OF BORDEN RANCH VITICULTURAL viticultural area within the northeast Required: No AREA portion of the established Lodi Small Entities Affected: No Priority: Substantive, Nonsignificant viticultural area. The distinctive viticultural environment of the Government Levels Affected: None Legal Authority: 27 USC 205 proposed Deer Creek Hills viticultural Agency Contact: Nancy Sutton, AVA CFR Citation: 27 CFR 9 area includes warm temperatures, Program Manager, Department of the significant rain and fog, high elevations Treasury, Alcohol and Tobacco Tax and Legal Deadline: None and old soils. The Committee is Trade Bureau, Room 5000, Room 200E, Abstract: The Lodi American petitioning for seven new viticultural 1310 G Street NW., Washington, DC Viticultural Areas (LAVA) Steering areas within the original boundaries of 20220 Committee proposes the establishment the Lodi viticultural area. A notice of Phone: 202 927–8210 of the 70,000-acre ‘‘Borden Ranch’’ proposed rulemaking is being reviewed. Fax: 202 927–8525 viticultural area in the east central

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TREAS—TTB Proposed Rule Stage

portion of the Lodi viticultural area. Regulatory Flexibility Analysis 2507. PROPOSED ESTABLISHMENT The most distinctive features include Required: No OF COVELO VITICULTURAL AREA old alluvial fans, river terraces and Priority: Substantive, Nonsignificant plains, high elevations and a Small Entities Affected: No Legal Authority: 27 USC 205 windswept climate. The Committee is Government Levels Affected: None petitioning for seven new viticultural CFR Citation: 27 CFR 9 Agency Contact: Nancy Sutton, AVA areas within the original Lodi Legal Deadline: None viticultural area boundaries. A notice Program Manager, Department of the of proposed rulemaking is being Treasury, Alcohol and Tobacco Tax and Abstract: Ralph Carter of Sonoma, reviewed. Trade Bureau, Room 5000, Room 200E, California is petitioning to establish Covelo as an American viticultural Timetable: 1310 G Street NW., Washington, DC 20220 area. Covelo area is 164 miles north of Action Date FR Cite Phone: 202 927–8210 San Francisco and immediately south NPRM 12/00/04 Fax: 202 927–8525 of the Round Valley Indian Reservation Email: [email protected] in northern CA. The proposed area has Regulatory Flexibility Analysis 38,000 acres with two acres of planted Required: No RIN: 1513–AA88 grape vines, but more area that the Small Entities Affected: No petitioner believes has good viticultural potential. The distinctive features Government Levels Affected: None 2506. PROPOSED ESTABLISHMENT OF THE MT. OSO VITICULTURAL include the bowl-shape of the Covelo Agency Contact: Nancy Sutton, AVA AREA valley area that contrasts to the narrow Program Manager, Department of the valleys, with north-south orientations, Treasury, Alcohol and Tobacco Tax and Priority: Substantive, Nonsignificant commonly found in Mendocino Trade Bureau, Room 5000, Room 200E, County. Also, it has a short grape- Legal Authority: 1310 G Street NW., Washington, DC 27 USC 205 growing season when compared to 20220 CFR Citation: 27 CFR 9 other Mendocino County viticultural Phone: 202 927–8210 areas. A notice of proposed rulemaking Fax: 202 927–8525 Legal Deadline: None is in review. Email: [email protected] Abstract: The proposed Mt. Oso Timetable: RIN: 1513–AA87 viticultural area, about 15 miles long Action Date FR Cite and 5 miles wide with 1,005 acres of NPRM 12/00/04 2505. PROPOSED ESTABLISHMENT vineyards, is nestled in the foothills Regulatory Flexibility Analysis OF CLEMENTS HILLS VITICULTURAL between the San Joaquin Valley and the Required: No AREA Diablo Range in San Joaquin and Stanislaus counties in California. The Small Entities Affected: No Priority: Substantive, Nonsignificant sloping hillside topography includes Government Levels Affected: None Legal Authority: 27 USC 205 streams and alluvial fans and plains. The distinguishing climatic features of Agency Contact: Nancy Sutton, AVA CFR Citation: 27 CFR 9 this 38,414-acre proposed area include Program Manager, Department of the Legal Deadline: None limited rainfall and persistent winds, Treasury, Alcohol and Tobacco Tax and along with sparse fog, frost, and dew. Trade Bureau, Room 5000, Room 200E, Abstract: The Lodi American A notice of proposed rulemaking is 1310 G Street NW., Washington, DC Viticultural Areas (LAVA) Steering being reviewed. 20220 Committee proposes the establishment Phone: 202 927–8210 of the 84,500-acre ‘‘Clements Hills’’ Timetable: Fax: 202 927–8525 viticultural area in the southeast Action Date FR Cite Email: [email protected] portion of the established Lodi viticultural area. It is a topographic NPRM 12/00/04 RIN: 1513–AA90 transition area between the low and flat San Joaquin Valley floor to the west Regulatory Flexibility Analysis Required: No 2508. PROPOSED ESTABLISHMENT and the progressively more OF HORSE HEAVEN HILLS mountainous Sierra Foothills to the Small Entities Affected: No east. The most distinguishing features Priority: Substantive, Nonsignificant of the Clements Hills area are the high Government Levels Affected: None Legal Authority: 27 USC 205 elevation river terraces and rounded Agency Contact: CFR Citation: 27 CFR 9 hilltops. The Committee is petitioning Nancy Sutton, AVA for seven new viticultural areas within Program Manager, Department of the Legal Deadline: None the original Lodi viticultural area Treasury, Alcohol and Tobacco Tax and Trade Bureau, Room 200E, 1310 G Abstract: Paul D. Lucas is proposing boundaries. A notice of proposed the establishment of the 570,000-acre rulemaking is being reviewed. Street NW., Washington, DC 20220 Phone: 202 927–8210 Horse Heaven Hills viticultural area. It Timetable: Fax: 202 927–8525 is in the southern central part of Email: [email protected] Washington, east of the Cascade Action Date FR Cite Mountain Range and north and west of NPRM 12/00/04 RIN: 1513–AA89 the Columbia River, and is entirely

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TREAS—TTB Proposed Rule Stage

within the Columbia Valley viticultural Phone: 301 290–1460 25 miles east of the Pacific Ocean. The area. The Horse Heaven Hills area is Fax: 301 290–1463 distinguishing factors of the Dos Rios noted for its series of south facing Email: [email protected] area include significant wind patterns, slopes and significant wind patterns. A RIN: 1513–AA92 a transitional climate, elevations notice of proposed rulemaking is in between 800 feet and 2000 feet, sloping review. terrains with 30 percent to 75 percent Timetable: 2510. RAMONA VALLEY inclines, relatively infertile soils, and VITICULTURAL AREA close proximity to two rivers. The Action Date FR Cite Priority: Substantive, Nonsignificant petitioner states the area has six acres NPRM 12/00/04 of planted commercial vineyards and Legal Authority: 27 USC 205 the potential for more viticultural Regulatory Flexibility Analysis CFR Citation: 27 CFR 9 growth. A notice of proposed Required: No Legal Deadline: None rulemaking is being drafted. Small Entities Affected: No Abstract: The proposed 89,000-acre Timetable: Government Levels Affected: None Ramona Valley viticultural area is in Action Date FR Cite Agency Contact: Nancy Sutton, AVA San Diego County, CA, and totally NPRM 12/00/04 Program Manager, Department of the within the established, larger South NPRM Comment 02/00/05 Treasury, Alcohol and Tobacco Tax and Coast viticultural area. The Period End Trade Bureau, Room 5000, Room 200E, distinguishing factors of the Ramona 1310 G Street NW., Washington, DC Valley area, according to the petition, Regulatory Flexibility Analysis 20220 include its high-elevation geography, Required: No Phone: 202 927–8210 climate that is based primarily on its Small Entities Affected: No Fax: 202 927–8525 inland location, and soils, to a lesser Government Levels Affected: None Email: [email protected] extent. There are currently 45 acres of Agency Contact: RIN: 1513–AA91 vineyards in commercial production. A Nancy Sutton, AVA notice of proposed rulemaking is in Program Manager, Department of the review. Treasury, Alcohol and Tobacco Tax and 2509. PETITION TO ESTABLISH Trade Bureau, Room 5000, Room 200E, Timetable: ‘‘CALISTOGA’’ AS AN AMERICAN 1310 G Street NW., Washington, DC VITICULTURAL AREA Action Date FR Cite 20220 Priority: Substantive, Nonsignificant NPRM 12/00/04 Phone: 202 927–8210 Fax: 202 927–8525 Legal Authority: 27 USC 205 NPRM Comment 02/00/05 Period End Email: [email protected] CFR Citation: 27 CFR 9 Regulatory Flexibility Analysis RIN: 1513–AA95 Legal Deadline: None Required: No Abstract: In response to a petition, the Small Entities Affected: No 2512. ∑ NIAGARA ESCARPMENT Alcohol and Tobacco Tax and Trade VITICULTURAL AREA Government Levels Affected: None Bureau proposes to establish the Priority: Substantive, Nonsignificant Calistoga viticultural area in Calistoga, Agency Contact: Nancy Sutton, AVA Napa Valley, California. We designate Program Manager, Department of the Legal Authority: 27 USC 205 viticultural areas to allow bottlers to Treasury, Alcohol and Tobacco Tax and CFR Citation: 27 CFR 9 better describe the origin of wines and Trade Bureau, Room 5000, Room 200E, allow consumers to better identify the 1310 G Street NW., Washington, DC Legal Deadline: None wines they may purchase. We invite 20220 Abstract: TTB has received a petition comments on this proposed addition to Phone: 202 927–8210 proposing ‘‘Niagara Escarpment’’ as a our regulations, particularly from Fax: 202 927–8525 new American viticultural area in New bottlers who use brand names similar Email: [email protected] York. to Calistoga. RIN: 1513–AA94 Timetable: Timetable: Action Date FR Cite Action Date FR Cite 2511. DOS RIOS VITICULTURAL AREA NPRM 02/00/05 NPRM 12/00/04 Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis Regulatory Flexibility Analysis Legal Authority: 27 USC 205 Required: No Required: No CFR Citation: 27 CFR 9 Small Entities Affected: No Small Entities Affected: No Legal Deadline: None Government Levels Affected: None Government Levels Affected: None Abstract: Ralph Jens Carter of Sonoma, Agency Contact: Jennifer Berry, TTB Agency Contact: Lisa M. Gesser, TTB California, is proposing the new Dos Specialist, Department of the Treasury, Specialist, Department of the Treasury, Rios AVA, located about 5 miles Alcohol and Tobacco Tax and Trade Alcohol and Tobacco Tax and Trade beyond the northern boundary of the Bureau, P.O. Box 18152, Roanoke, VA Bureau, P.O. Box 128, Morganza, MD North Coast AVA. Dos Rios is about 24014 20660 150 miles north of San Francisco and Phone: 540 344–9333

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TREAS—TTB Proposed Rule Stage

Fax: 540 344–5855 Email: [email protected] RIN: 1513–AA97

Department of the Treasury (TREAS) Final Rule Stage Alcohol and Tobacco Tax and Trade Bureau (TTB)

ALCOHOL located in Douglas County, Minnesota. Government Levels Affected: None This proposal is a result of a petition filed by Robert G. Johnson on behalf Additional Information: Transferred 2513. PETITION TO ESTABLISH of Carlos Creek Winery. from RIN 1512-AC85 ‘‘ALEXANDRIA LAKES’’ AS A NEW Timetable: Agency Contact: AMERICAN VITICULTURAL AREA Lisa M. Gesser, TTB Action Date FR Cite Specialist, Department of the Treasury, Priority: Substantive, Nonsignificant Alcohol and Tobacco Tax and Trade NPRM 01/23/03 68 FR 3199 Legal Authority: Bureau, P.O. Box 128, Morganza, MD 27 USC 205 NPRM Comment 03/24/03 CFR Citation: 27 CFR 9 Period End 20660 Phone: 301 290–1460 Legal Deadline: None Final Action 12/00/04 Regulatory Flexibility Analysis Fax: 301 290–1463 Abstract: TTB proposes to establish Email: [email protected] ‘‘Alexandria Lakes’’ as a new American Required: No viticultural area. The proposed area is Small Entities Affected: No RIN: 1513–AA45

Administrative/Procedures Tobacco and Firearms, Department of Regulatory Flexibility Analysis the Treasury, into two separate Required: No agencies, the Bureau of Alcohol, 2514. ADMINISTRATIVE CHANGES TO Tobacco, Firearms and Explosives in Small Entities Affected: No ALCOHOL, TOBACCO, AND the Department of Justice, and the Government Levels Affected: None FIREARMS REGULATIONS DUE TO Alcohol and Tobacco Tax and Trade THE HOMELAND SECURITY ACT OF Bureau in the Department of the Agency Contact: Lisa M. Gesser, TTB 2002 Treasury. Due to these changes, this Specialist, Department of the Treasury, Priority: Info./Admin./Other final rule amends the Alcohol and Alcohol and Tobacco Tax and Trade Tobacco Tax and Trade Bureau’s Legal Authority: PL 107–296; . . . Bureau, P.O. Box 128, Morganza, MD regulations to reflect the Bureau’s new 20660 CFR Citation: 27 CFR 1; 27 CFR 4; 27 name and organizational structure. Phone: 301 290–1460 CFR 5; 27 CFR 6; 27 CFR 8; . . . Timetable: Fax: 301 290–1463 Legal Deadline: None Email: [email protected] Abstract: The Homeland Security Act Action Date FR Cite of 2002 divided the Bureau of Alcohol, Final Action 03/00/05 RIN: 1513–AA80

TOBACCO PRODUCTS Legal Deadline: None of Federal law enforcement operations, particularly investigations involving Abstract: The Department of the tobacco diversion and cigarette 2515. ∑ REMOVAL OF TOBACCO Treasury and the Alcohol and Tobacco smuggling. Tax and Trade Bureau propose to PRODUCTS AND CIGARETTE PAPERS Timetable: AND TUBES, WITHOUT PAYMENT OF amend the regulations relating to the TAX, FOR UNITED STATES USE IN removal of tobacco products and Action Date FR Cite LAW ENFORCEMENT ACTIVITIES cigarette papers and tubes, without Interim Final Rule 07/00/05 payment of tax, for use of the United Priority: Substantive, Nonsignificant. States. Specifically, we propose to Regulatory Flexibility Analysis Major status under 5 USC 801 is Required: No undetermined. allow manufacturers of tobacco products and cigarette papers and tubes Small Entities Affected: No Legal Authority: 26 USC 5703; 26 USC to remove these articles without 5704; 26 USC 5705; 26 USC 5723; 26 payment of tax for use by Federal Government Levels Affected: None USC 5741; 26 USC 5751; 26 USC 5762; agencies in their law enforcement Agency Contact: Linda Chapman, TTB 26 USC 5763; 26 USC 6313; 26 USC activities, and to exempt packages of Specialist, Department of the Treasury, 7212; 26 USC 7342; 26 USC 7606; 26 those removed products from the tax- Alcohol and Tobacco Tax and Trade USC 7805; 44 USC 3504(h) exempt labeling requirement. We take Bureau, Room 200E, 1310 G Street CFR Citation: 27 CFR 45.31 this action to timely meet the needs NW., Washington, DC 20220

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TREAS—TTB Final Rule Stage

Phone: 202 927–8210 Legal Deadline: None Regulations (CFR) as 27 CFR part 31. Fax: 202 927–8525 Abstract: TTB issued ATF Rulings 96- This change improves the organization Email: [email protected] 1 and 2002-2 to address production and of title 27 CFR. In addition, due to the RIN: 1513–AA99 labeling of flavored malt beverages that reorganization of ATF into two separate derive their alcohol content from bureaus, we are making nomenclature flavoring materials. TTB has studied changes to this part. 2516. IMPLEMENTATION OF PUBLIC the issue of flavored malt beverages and Timetable: LAW 105–33, SECTION 9302, is proposing rules to limit the REQUIRING THE QUALIFICATION OF Action Date FR Cite contribution of distilled spirits derived TOBACCO PRODUCT IMPORTERS from flavoring materials in flavored Final Action 07/00/05 AND MISCELLANEOUS TECHNICAL malt beverages. These proposals Regulatory Flexibility Analysis AMENDMENTS address production, identity, labeling, Required: No Priority: Substantive, Nonsignificant formulation, and tax issues related to Small Entities Affected: No flavored malt beverages. Legal Authority: 26 USC 5712; 26 USC Government Levels Affected: None 5713 Timetable: Additional Information: Transferred CFR Citation: 27 CFR 275 Action Date FR Cite from RIN 1512-AC45 Legal Deadline: Other, Statutory, NPRM 03/24/03 68 FR 14292 Agency Contact: Karl Joedicke, TTB January 1, 2000, Interim Final Rule. NPRM Comment 06/23/03 Specialist, Department of the Treasury, Abstract: These regulations will Period End Alcohol and Tobacco Tax and Trade implement section 9302 provisions of NPRM Comment 06/02/03 68 FR 32698 Bureau, 1310 G Street NW., Room Public Law 105-33, requiring permits Period End 200E, Washington, DC 20220 for businesses engaged in importing Extended Phone: 202 927–7460 tobacco products. Also, minor technical Extended Comment 10/21/03 Fax: 202 927–8525 Period End amendments have been included in this Email: [email protected] Final Action 12/00/04 rule. Final Action Effective 01/00/05 RIN: 1513–AA19 Timetable: Regulatory Flexibility Analysis Action Date FR Cite Required: No 2519. PRODUCTION OF DRIED FRUIT AND HONEY WINES NPRM 12/22/99 64 FR 71955 Small Entities Affected: Businesses Interim Final Rule 12/22/99 64 FR 71947 Priority: Substantive, Nonsignificant Government Levels Affected: None Interim Final Rule 01/01/00 Legal Authority: 26 USC 5381; 26 USC Effective Additional Information: Transferred 5382; 26 USC 5385; 26 USC 5386; 26 Interim Final Rule 05/03/00 65 FR 17477 from RIN 1512-AC11 USC 5387 Comment Period URL For Public Comments: End CFR Citation: 27 CFR 24 http://www.ttb.gov/foia/ Final Action 01/00/05 nprmlcomments/ Legal Deadline: None Regulatory Flexibility Analysis ttbnotice04lcomments.htm Abstract: TTB has received two Required: No Agency Contact: Charles N. Bacon, petitions relating to the production of Small Entities Affected: No Program Manager, Department of the agricultural wines. One petition proposes that the wine regulations be Government Levels Affected: None Treasury, Alcohol and Tobacco Tax and Trade Bureau, P.O. Box 5056, Beverly amended to allow for the production Additional Information: Transferred Farms, MA 01915 of dried fruit wines with an alcohol by from RIN 1512-AC07 Phone: 978 921–1840 volume content of more than 14 Agency Contact: Linda Fax: 978 921–1840 percent. The second petition proposes Wade–Chapman, TTB Specialist, Email: [email protected] that the regulations be amended to Department of the Treasury, Alcohol allow for the production of honey RIN: 1513–AA12 and Tobacco Tax and Trade Bureau, wines with a starting Brix of less than Room 200E, 1310 G Street NW., 22 degrees. Washington, DC 20220 2518. LIQUOR DEALERS; Timetable: Phone: 202 927–8181 RECODIFICATION OF REGULATIONS Action Date FR Cite Fax: 202 927–8525 Priority: Info./Admin./Other Email: [email protected] NPRM 07/02/03 68 FR 39500 Legal Authority: 26 USC 7805 NPRM Comment 09/02/03 RIN: 1513–AA10 Period End CFR Citation: 27 CFR 31; 27 CFR 194; Final Action 01/00/05 ... 2517. FLAVORED MALT BEVERAGES Regulatory Flexibility Analysis Legal Deadline: AND RELATED PROPOSALS None Required: No Priority: Substantive, Nonsignificant Abstract: TTB is recodifying the Small Entities Affected: No regulations pertaining to liquor dealers. Legal Authority: 27 USC 211; 27 USC The purpose of this recodification is to Government Levels Affected: None 205; 26 USC 5052 reissue the regulations in part 194 of Additional Information: Transferred CFR Citation: 27 CFR 7; 27 CFR 25 title 27 of the Code of Federal from RIN 1512-AC48

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TREAS—TTB Final Rule Stage

Agency Contact: Jennifer Berry, TTB ‘‘Durif’’ as a synonym for the Petite Small Entities Affected: No Specialist, Department of the Treasury, Sirah grape and to recognize the name Government Levels Affected: None Alcohol and Tobacco Tax and Trade ‘‘Primitivo’’ as a synonym for the Bureau, P.O. Box 18152, Roanoke, VA Zinfandel grape. This is in response to Additional Information: Transferred 24014 the result of recent DNA research into from RIN 1512-AC76 Phone: 540 344–9333 the identity of these grape varieties. Agency Contact: Nancy Sutton, AVA Fax: 540 344–5855 Timetable: Program Manager, Department of the Email: [email protected] Treasury, Alcohol and Tobacco Tax and Action Date FR Cite RIN: 1513–AA21 Trade Bureau, Room 200E, 1310 G NPRM 04/10/02 67 FR 17312 Street NW., Washington, DC 20220 NPRM Comment 06/06/02 67 FR 38915 Phone: 202 927–8210 2520. PETITION TO ESTABLISH THE Period Extended Fax: 202 927–8525 ‘‘TRINITY LAKE’’ VITICULTURAL NPRM Comment 10/08/02 Email: [email protected] AREA Period End RIN: 1513–AA39 Priority: Substantive, Nonsignificant Final Action 03/00/05 Legal Authority: 27 USC 205 Regulatory Flexibility Analysis Required: No 2523. PETITION TO ESTABLISH CFR Citation: 27 CFR 9 ‘‘EOLA HILLS’’ AS A NEW AMERICAN Small Entities Affected: No Legal Deadline: None VITICULTURAL AREA Government Levels Affected: None Abstract: TTB has received a petition Priority: Substantive, Nonsignificant Additional Information: Transferred from Keith Groves of Alpen Cellars Legal Authority: 27 USC 205 from RIN 1512-AC65 proposing the establishment of a CFR Citation: 27 CFR 9 viticultural area located in Trinity Agency Contact: Jennifer Berry, TTB County, California. The proposed Specialist, Department of the Treasury, Legal Deadline: None Trinity Lake viticultural area consists Alcohol and Tobacco Tax and Trade Abstract: TTB has received a petition of approximately 96,000 acres. Bureau, P.O. Box 18152, Roanoke, VA proposing the establishment of ‘‘Eola Timetable: 24014 Hills’’ as a new American viticultural Phone: 540 344–9333 area in Oregon. Action Date FR Cite Fax: 540 344–5855 Timetable: NPRM 12/17/03 68 FR 70215 Email: [email protected] NPRM Comment 02/17/04 RIN: 1513–AA32 Action Date FR Cite Period End NPRM 09/08/03 68 FR 52875 Final Action 12/00/04 2522. PETITION FOR THE NPRM Comment 11/07/03 Period End Regulatory Flexibility Analysis ESTABLISHMENT OF ‘‘RED HILL’’ AS Required: No Comment Period 11/07/03 68 FR 63042 AN AMERICAN VITICULTURAL AREA Extended Small Entities Affected: No Priority: Substantive, Nonsignificant Extended Comment 01/06/04 Government Levels Affected: None Legal Authority: 26 USC 205(e) Period End Final Action 02/00/05 Additional Information: Transferred CFR Citation: 27 CFR 9 from RIN 1512-AC62 Regulatory Flexibility Analysis Legal Deadline: None Required: Agency Contact: Rita Butler, No Abstract: Writer–Editor, Department of the TTB received a petition Small Entities Affected: No proposing the establishment of ‘‘Red Treasury, Alcohol and Tobacco Tax and Government Levels Affected: None Trade Bureau, Room 200E, 1310 G Hill’’ as an American viticultural area Street NW., Washington, DC 20220 located within the State of Oregon. The Additional Information: Transferred Phone: 202 927–8210 proposed viticultural area consists of from RIN 1512-AC78 Fax: 202 927–8525 approximately 1,668 acres or 8.6 square Agency Contact: Jennifer Berry, TTB Email: [email protected] miles. Comments are being reviewed Specialist, Department of the Treasury, along with petioner’s rebuttal. RIN: 1513–AA29 Alcohol and Tobacco Tax and Trade Timetable: Bureau, P.O. Box 18152, Roanoke, VA Action Date FR Cite 24014 2521. PROPOSAL TO RECOGNIZE Phone: 540 344–9333 SYNONYMS FOR PETITE SIRAH AND NPRM 10/30/02 67 FR 66079 Fax: 540 344–5855 ZINFANDEL GRAPE VARIETIES NPRM Comment 12/30/02 Email: [email protected] Period End Priority: Substantive, Nonsignificant NPRM Comment 01/16/03 68 FR 2262 RIN: 1513–AA41 Legal Authority: 27 USC 205 Period Reopened CFR Citation: 27 CFR 4 Second NPRM 03/17/03 2524. ORGANIC CLAIMS IN LABELING Comment Period AND ADVERTISING OF ALCOHOL Legal Deadline: None End BEVERAGES Abstract: TTB is proposing to amend Final Action 03/00/05 the list of prime grape names for Regulatory Flexibility Analysis Priority: Info./Admin./Other American wines to recognize the name Required: No Legal Authority: 27 USC 205

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TREAS—TTB Final Rule Stage

CFR Citation: 27 CFR 4; 27 CFR 5; 27 Hills of Dundee to the Dundee Hills Agency Contact: Nancy Sutton, AVA CFR 7; 27 CFR 13 to avoid confusion with any other Red Program Manager, Department of the Legal Deadline: None Hills viticultural area. Substantiating Treasury, Alcohol and Tobacco Tax and 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 Program (NOP) rules. The mandatory Email: [email protected] compliance date for the NOP rules was Timetable: October 21, 2002. TTB requested Action Date FR Cite RIN: 1513–AA57 comments on the temporary rule in an NPRM 08/15/03 68 FR 48839 associated notice of proposed NPRM Comment 10/14/03 2527. PETITION TO ESTABLISH rulemaking. Comments were due March Period End ‘‘RIBBON RIDGE’’ AS A NEW 27, 2003. Final Action 12/00/04 AMERICAN VITICULTURAL AREA Timetable: Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant Action Date FR Cite Required: No Legal Authority: 27 USC 205 NPRM 10/08/02 67 FR 62860 Small Entities Affected: No CFR Citation: 27 CFR 9 Temporary Rule 10/08/02 67 FR 62856 Government Levels Affected: None Legal Deadline: NPRM Comment 12/27/02 67 FR 79011 None Period Reopened Additional Information: Transferred Abstract: TTB has received a petition NPRM Comment 05/09/03 68 FR 24903 from RIN 1512-AC91 proposing the establishment of the Period Reopened Agency Contact: Nancy Sutton, AVA ‘‘Ribbon Ridge’’ viticultural area Final Action 12/00/04 Program Manager, Department of the located in the northern part of Yamhill Regulatory Flexibility Analysis Treasury, Alcohol and Tobacco Tax and County, Oregon between Newberg and Required: No Trade Bureau, Room 5000, Room 200E, Gaston. A draft final rule is being 1310 G Street NW., Washington, DC reviewed. Small Entities Affected: No 20220 Timetable: Government Levels Affected: None Phone: 202 927–8210 Action Date FR Cite Additional Information: Transferred Fax: 202 927–8525 from RIN 1512-AC87 Email: [email protected] NPRM 11/03/03 68 FR 62259 Agency Contact: RIN: 1513–AA50 NPRM Comment 01/02/04 Marjorie D. Ruhf, Period End Program Manager, Department of the Final Action 03/00/05 Treasury, Alcohol and Tobacco Tax and 2526. PETITION TO ESTABLISH Regulatory Flexibility Analysis Trade Bureau, Room 200E, 1310 G ‘‘CHEHALEM MOUNTAINS’’ AS A NEW Required: No Street NW., Washington, DC 20220 AMERICAN VITICULTURAL AREA Phone: 202 927–8210 Small Entities Affected: No Fax: 202 927–8525 Priority: Substantive, Nonsignificant Government Levels Affected: None Email: [email protected] Legal Authority: 27 USC 205 Additional Information: Transferred RIN: 1513–AA46 CFR Citation: 27 CFR 9 from RIN 1512-AD03 Legal Deadline: None Agency Contact: Nancy Sutton, AVA 2525. PETITION TO ESTABLISH Abstract: TTB has received a petition Program Manager, Department of the ‘‘DUNDEE HILLS’’ AS A NEW proposing the establishment of the Treasury, Alcohol and Tobacco Tax and AMERICAN VITICULTURAL AREA ‘‘Chehalem Mountains’’ viticultural Trade Bureau, Room 5000, Room 200E, Priority: Substantive, Nonsignificant area located in Yamhill, Washington, 1310 G Street NW., Washington, DC and Clackamas Counties, Oregon. A Legal Authority: 27 USC 205 20220 draft final rule is being prepared. Phone: 202 927–8210 CFR Citation: 27 CFR 9 Timetable: Fax: 202 927–8525 Legal Deadline: None Email: [email protected] Action Date FR Cite Abstract: TTB has received a petition RIN: 1513–AA58 from the North Willamette Valley AVA NPRM 10/07/03 68 FR 57840 Group proposing to establish the NPRM Comment 12/08/03 Period End 2528. PETITION TO ESTABLISH ‘‘Dundee Hills’’ American viticultural Final Action 03/00/05 ‘‘YAMHILL–CARLTON DISTRICT’’ AS area in Yamhill County, Oregon. This A NEW AMERICAN VITICULTURAL petitioned viticultural area has 6,490 Regulatory Flexibility Analysis AREA acres, with 1,264 acres planted to wine Required: No grapes, and is on the north side of the Small Entities Affected: No Priority: Substantive, Nonsignificant Willamette Valley viticultural area in Legal Authority: 27 USC 205 northwest Oregon. In November 2002, Government Levels Affected: None the petitioning group amended their Additional Information: Transferred CFR Citation: 27 CFR 9 viticultural area petition from the Red from RIN 1512-AD02 Legal Deadline: None

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TREAS—TTB Final Rule Stage

Abstract: TTB has received a petition Additional Information: Transferred Josephine Counties in southwestern proposing the establishment of the from RIN 1512-AC10 Oregon. A final rule is in TTB review. ‘‘Yamhill-Carlton District’’ viticultural URL For Public Comments: Timetable: area. The proposed area falls within the l www.ttb.gov/foia/nprm comments/ Action Date FR Cite approved boundaries of the Willamette notice946lcomments.htm Valley viticultural area in northwest NPRM 09/18/03 68 FR 54696 Agency Contact: Oregon. Draft final ruling is being Charles N. Bacon, NPRM Comment 11/17/03 prepared. Program Manager, Department of the Period End Treasury, Alcohol and Tobacco Tax and Final Action 12/00/04 Timetable: Trade Bureau, P.O. Box 5056, Beverly Action Date FR Cite Farms, MA 01915 Regulatory Flexibility Analysis Required: No NPRM 10/07/03 68 FR 57845 Phone: 978 921–1840 NPRM Comment 12/08/03 Fax: 978 921–1840 Small Entities Affected: No Email: [email protected] Period End Government Levels Affected: None Final Action 12/00/04 RIN: 1513–AA60 Agency Contact: Nancy Sutton, AVA Regulatory Flexibility Analysis Program Manager, Department of the Required: No 2530. PETITION TO ESTABLISH Treasury, Alcohol and Tobacco Tax and Small Entities Affected: No ‘‘MCMINNVILLE’’ AS AN AMERICAN Trade Bureau, Room 5000, Room 200E, VITICULTURAL AREA IN OREGON 1310 G Street NW., Washington, DC Government Levels Affected: None Priority: Substantive, Nonsignificant 20220 Additional Information: Transferred Phone: 202 927–8210 from RIN 1512-AD04 Legal Authority: 27 USC 205 Fax: 202 927–8525 Agency Contact: Nancy Sutton, AVA CFR Citation: 27 CFR 9 Email: [email protected] Program Manager, Department of the Legal Deadline: None Related RIN: Previously reported as Treasury, Alcohol and Tobacco Tax and Abstract: TTB has received a petition 1512–AC81 Trade Bureau, Room 5000, Room 200E, proposing ‘‘McMinnville’’ as a new RIN: 1310 G Street NW., Washington, DC 1513–AA75 American viticultural area in Oregon. 20220 Phone: 202 927–8210 Timetable: 2532. ∑ MATERIALS AUTHORIZED Fax: 202 927–8525 Action Date FR Cite FOR THE TREATMENT OF WINE AND Email: [email protected] JUICE; PROCESSES AUTHORIZED NPRM 06/27/03 68 FR 38248 RIN: 1513–AA59 FOR THE TREATMENT OF WINE, NPRM Comment 08/26/03 JUICE, AND DISTILLING MATERIAL Period End 2529. LABELING AND ADVERTISING Final Action 11/00/04 Priority: Substantive, Nonsignificant OF MALT BEVERAGES Regulatory Flexibility Analysis Legal Authority: 26 USC 5381; 26 USC Priority: Substantive, Nonsignificant Required: No 5382; 26 USC 5385; 26 USC 5386; 26 USC 5387 Legal Authority: 27 USC 205 Small Entities Affected: No CFR Citation: 24 CFR 246; 24 CFR 248 CFR Citation: 27 CFR 7 Government Levels Affected: None Legal Deadline: None Legal Deadline: None Agency Contact: Jennifer Berry, TTB Specialist, Department of the Treasury, Abstract: TTB is revising its lists of Abstract: This project revises malt Alcohol and Tobacco Tax and Trade approved wine treating materials and beverage advertising and labeling Bureau, P.O. Box 18152, Roanoke, VA processes to add several new materials regulations in plain language. This 24014 and processes and revise existing revision will make no substantive Phone: 540 344–9333 limitations for a few others. changes to the current 27 CFR part 7. Fax: 540 344–5855 Timetable: Timetable: Email: [email protected] Action Date FR Cite Action Date FR Cite RIN: 1513–AA63 Interim Final Rule 12/00/04 NPRM 06/27/02 67 FR 43496 NPRM Comment 08/26/02 2531. PETITION TO ESTABLISH Regulatory Flexibility Analysis Period End ‘‘SOUTHERN OREGON’’ AS A Required: No NPRM Comment 08/27/02 67 FR 54388 VITICULTURAL AREA Small Entities Affected: No Period Extended Priority: NPRM Comment 09/25/02 Substantive, Nonsignificant Government Levels Affected: None Period End Legal Authority: 27 USC 205 Agency Contact: Jennifer Berry, TTB Final Action 12/00/04 CFR Citation: 27 CFR 9 Specialist, Department of the Treasury, Regulatory Flexibility Analysis Alcohol and Tobacco Tax and Trade Legal Deadline: None Required: No Bureau, P.O. Box 18152, Roanoke, VA Abstract: TTB proposes to establish the 24014 Small Entities Affected: Businesses Southern Oregon viticultural area in Phone: 540 344–9333 Government Levels Affected: None portions of Douglas, Jackson, and Fax: 540 344–5855

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TREAS—TTB Final Rule Stage

Email: [email protected] RIN: 1513–AA96

Department of the Treasury (TREAS) Long-Term Actions Alcohol and Tobacco Tax and Trade Bureau (TTB)

2533. EXPORTATION OF LIQUORS Regulatory Flexibility Analysis Timetable: Priority: Substantive, Nonsignificant Required: No Action Date FR Cite CFR Citation: 27 CFR 252 Government Levels Affected: None NPRM To Be Determined Timetable: Agency Contact: Marjorie D. Ruhf Regulatory Flexibility Analysis Phone: 202 927–8210 Action Date FR Cite Required: Fax: 202 927–8525 No ANPRM 09/08/92 57 FR 40887 Email: [email protected] Small Entities Affected: No ANPRM Comment 10/08/92 RIN: Period End 1513–AA05 Government Levels Affected: None ANPRM Comment 10/15/92 57 FR 47320 Agency Contact: Period Extended 2535. IMPLEMENTATION OF PUBLIC Marjorie D. Ruhf ANPRM Comment 12/07/92 LAW 105–34, SECTION 1416, Phone: 202 927–8210 Period Extended RELATING TO REFUND OF TAX FOR Fax: 202 927–8525 End Email: [email protected] ANPRM 08/09/96 61 FR 41500 DOMESTIC WINE RETURNED TO ANPRM Comment 12/10/96 BOND REGARDLESS OF RIN: 1513–AA08 Period End MERCHANTABILITY (TAXPAYER RELIEF ACT OF 1997) NPRM 12/00/05 2537. PROHIBITED MARKS ON Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant PACKAGES OF TOBACCO Required: No CFR Citation: 27 CFR 24.66; 27 CFR PRODUCTS AND CIGARETTE PAPERS Government Levels Affected: None 24.295; 27 CFR 24.312 AND TUBES IMPORTED OR BROUGHT INTO THE UNITED STATES Agency Contact: Joanne Brady Timetable: Phone: 215 333–7050 Action Date FR Cite Priority: Substantive, Nonsignificant Fax: 215 333–8871 Email: [email protected] Interim Final Rule To Be Determined CFR Citation: 27 CFR 275 RIN: 1513–AA00 Regulatory Flexibility Analysis Timetable: Required: No Action Date FR Cite Small Entities Affected: No 2534. IMPLEMENTATION OF WINE NPRM To Be Determined CREDIT PROVISIONS OF PUBLIC LAW Government Levels Affected: None 104–188 Regulatory Flexibility Analysis Agency Contact: Marjorie D. Ruhf Priority: Required: No Substantive, Nonsignificant Phone: 202 927–8210 CFR Citation: 27 CFR 24.278; 27 CFR Fax: 202 927–8525 Small Entities Affected: Businesses 24.279 Email: [email protected] Government Levels Affected: None Timetable: RIN: 1513–AA06 Action Date FR Cite Agency Contact: Linda Wade–Chapman NPRM 06/02/97 62 FR 29681 2536. AMENDED STANDARD OF Phone: 202 927–8181 NPRM Comment 08/01/97 IDENTITY FOR SHERRY Fax: 202 927–8525 Period End Priority: Email: [email protected] Interim Final Rule 06/02/97 62 FR 29663 Substantive, Nonsignificant Final Action To Be Determined CFR Citation: 27 CFR 4 RIN: 1513–AA14

Department of the Treasury (TREAS) Completed Actions Alcohol and Tobacco Tax and Trade Bureau (TTB)

2538. REVISION OF BREWERY Completed: Small Entities Affected: Businesses REGULATIONS AND ISSUANCE OF Reason Date FR Cite REGULATIONS FOR TAVERNS ON Government Levels Affected: None BREWERY PREMISES (BREWPUBS) Withdrawn 09/23/04 Agency Contact: Joanne Brady Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis Phone: 215 333–7050 Fax: 215 333–8871 CFR Citation: 27 CFR 7; 27 CFR 25 Required: No

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TREAS—TTB Completed Actions

Email: [email protected] Small Entities Affected: No Completed: RIN: 1513–AA02 Government Levels Affected: None Reason Date FR Cite Agency Contact: Linda Final Action 06/29/04 69 FR 38834 2539. REMOVAL OF REQUIREMENT Wade–Chapman Final Action Effective 08/30/04 TO DISCLOSE SACCHARIN IN THE Phone: 202 927–8181 Regulatory Flexibility Analysis LABELING OF WINE, DISTILLED Fax: 202 927–8525 Required: No SPIRITS, AND MALT BEVERAGES Email: [email protected] Small Entities Affected: No Priority: Info./Admin./Other RIN: 1513–AA18 CFR Citation: 27 CFR 4.32(d); 27 CFR Government Levels Affected: None 5.32(b)(6); 27 CFR 7.22(b)(5) 2542. IMPORTATION OF TOBACCO Agency Contact: Nancy Sutton Completed: PRODUCTS AND CIGARETTE PAPERS Phone: 202 927–8210 AND TUBES; RECODIFICATION OF Fax: 202 927–8525 Reason Date FR Cite REGULATIONS Email: [email protected] Withdrawn 09/23/04 Priority: Info./Admin./Other RIN: 1513–AA28 Regulatory Flexibility Analysis Required: No CFR Citation: 27 CFR 41; 27 CFR 275 2545. PETITION TO ESTABLISH ‘‘RED Completed: Small Entities Affected: No HILLS LAKE COUNTY’’ AMERICAN Government Levels Affected: None Reason Date FR Cite VITICULTURAL AREA Agency Contact: Marjorie D. Ruhf Final Action 08/26/04 69 FR 52421 Priority: Substantive, Nonsignificant Phone: 202 927–8210 Final Action Effective 08/26/04 CFR Citation: 27 CFR 9 Fax: 202 927–8525 Regulatory Flexibility Analysis Email: [email protected] Required: No Completed: RIN: 1513–AA15 Small Entities Affected: No Reason Date FR Cite Government Levels Affected: None Final Action 07/12/04 69 FR 41750 2540. TOBACCO PRODUCTS AND Final Action Effective 09/10/04 Agency Contact: Nancy Sutton CIGARETTE PAPERS AND TUBES Regulatory Flexibility Analysis SHIPPED FROM PUERTO RICO TO Phone: 202 927–8210 Required: No THE UNITED STATES Fax: 202 927–8525 Email: [email protected] Small Entities Affected: Priority: Substantive, Nonsignificant No RIN: 1513–AA20 CFR Citation: 27 CFR 275 Government Levels Affected: None Completed: Agency Contact: Nancy Sutton 2543. PETITION TO ESTABLISH THE Phone: 202 927–8210 Reason Date FR Cite ‘‘SANTA BARBARA HIGHLANDS’’ Fax: 202 927–8525 Final Action 07/22/03 68 FR 43294 VITICULTURAL AREA Email: [email protected] Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant RIN: 1513–AA33 Required: No CFR Citation: 27 CFR 9 Small Entities Affected: No Completed: 2546. ELIMINATE REQUIREMENT TO Government Levels Affected: None ENROLL TO PRACTICE BEFORE THE Reason Date FR Cite BUREAU Agency Contact: Linda Withdrawn 09/23/04 Wade–Chapman Priority: Substantive, Nonsignificant Phone: 202 927–8181 Regulatory Flexibility Analysis CFR Citation: 31 CFR 8 Fax: 202 927–8525 Required: No Completed: Email: [email protected] Small Entities Affected: No RIN: 1513–AA17 Reason Date FR Cite Government Levels Affected: None Withdrawn 09/23/04 Agency Contact: Timothy P. DeVanney 2541. ELIMINATION OF STATISTICAL Phone: 202 927–8210 Regulatory Flexibility Analysis CLASSES FOR LARGE CIGARS Fax: 202 927–8525 Required: No Priority: Substantive, Nonsignificant Email: [email protected] Small Entities Affected: No CFR Citation: 27 CFR 40; 27 CFR 275 RIN: 1513–AA24 Government Levels Affected: None Completed: Agency Contact: Timothy P. DeVanney 2544. PROPOSED ‘‘SAN BERNABE’’ Reason Date FR Cite Phone: 202 927–8210 VITICULTURAL AREA Final Action 07/22/04 69 FR 43294 Fax: 202 927–8525 Priority: Email: [email protected] Regulatory Flexibility Analysis Substantive, Nonsignificant Required: No CFR Citation: 27 CFR 9 RIN: 1513–AA62

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TREAS—TTB Completed Actions

2547. PETITION TO ESTABLISH THE 2548. PETITION TO ESTABLISH THE 2549. REMOVAL OF REQUIREMENT ‘‘ALEXANDER MOUNTAIN’’ ‘‘SALADO CREEK’’ VITICULTURAL TO DISCLOSE SACCHARIN IN THE VITICULTURAL AREA AREA LABELING OF WINE, DISTILLED SPIRITS, AND MALT BEVERAGE Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant CFR Citation: 27 CFR 9 CFR Citation: 27 CFR 9 CFR Citation: 27 CFR 4; 27 CFR 5; 27 Completed: Completed: CFR 7 Completed: Reason Date FR Cite Reason Date FR Cite Final Action 06/29/04 69 FR 38831 Reason Date FR Cite Withdrawn 09/23/04 Final Action Effective 08/30/04 Final Action 06/16/04 69 FR 33572 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: No Government Levels Affected: None Government Levels Affected: None Government Levels Affected: None Agency Contact: Lisa M. Gesser Agency Contact: Nancy Sutton Agency Contact: Nancy Sutton Phone: 301 290–1460 Phone: 202 927–8210 Phone: 202 927–8210 Fax: 301 290–1463 Fax: 202 927–8525 Fax: 202 927–8525 Email: [email protected] Email: [email protected] Email: [email protected] RIN: 1513–AA93 RIN: 1513–AA65 RIN: 1513–AA69 BILLING CODE 4810–25–S

Department of the Treasury (TREAS) Proposed Rule Stage Comptroller of the Currency (OCC)

2550. RECORDKEEPING and Regulatory Activities Division, 250 community development activities, REQUIREMENTS FOR BANK E Street SW., Washington, DC 20219 such as affordable housing and EXCEPTIONS FROM SECURITIES Phone: 202 874–5090 community services, in rural BROKER OR DEALER REGISTRATION Fax: 202 874–4889 communities and designated disaster Email: [email protected] Priority: Other Significant areas. RIN: 1557–AB93 Legal Authority: 12 USC 93a; 12 USC Timetable: 1828(t) Action Date FR Cite 2551. COMMUNITY REINVESTMENT CFR Citation: Not Yet Determined ACT REGULATION (12 CFR 25) ANPRM 07/19/01 66 FR 37602 Legal Deadline: None Priority: Other Significant ANPRM Comment 10/17/01 Period End Abstract: This joint rulemaking would Legal Authority: 12 USC 21; 12 USC NPRM 02/06/04 69 FR 5729 implement section 204 of the Gramm- 22; 12 USC 26; 12 USC 27; 12 USC Leach-Bliley Act. Section 204 directs NPRM Comment 04/06/04 30; 12 USC 36; 12 USC 93a; 12 USC Period End the Federal banking agencies to 161; 12 USC 215; 12 USC 215a; 12 USC NPRM 11/00/04 establish recordkeeping requirements 481; 12 USC 1814; 12 USC 1816; 12 for banks relying on exceptions to the USC 1828(c); 12 USC 1835a; 12 USC Regulatory Flexibility Analysis definitions of ‘‘broker’’ and ‘‘dealer’’ 2901 to 2907; 12 USC 3101 to 3111 Required: No contained in paragraphs (4) and (5) of CFR Citation: 12 CFR 25 section 3(a) of the Securities Exchange Government Levels Affected: None Act of 1934. Legal Deadline: None Agency Contact: Patrick T. Tierney, Timetable: Abstract: OCC is considering revising certain provisions of its rules Attorney, Department of the Treasury, Action Date FR Cite implementing the Community Comptroller of the Currency, Legislative NPRM 12/00/04 Reinvestment Act (CRA). This and Regulatory Activities Division, 250 rulemaking would address the E Street SW., Washington, DC 20219 Regulatory Flexibility Analysis regulatory burden imposed on smaller Phone: 202 874–5090 Required: No national banks by revising the Fax: 202 874–4889 Small Entities Affected: No eligibility requirements for CRA Email: [email protected] evaluation under the lending, Government Levels Affected: None investment, and service tests. This RIN: 1557–AB98 Agency Contact: Martha Vestal Clarke, rulemaking would also revise the Counsel, Department of the Treasury, definition of the term ‘‘community Comptroller of the Currency, Legislative development’’ to include typical

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TREAS—OCC Proposed Rule Stage

2552. RULES, POLICIES, AND Agency Contact: Heidi M. Thomas, In addition, the Agencies must issue PROCEDURES FOR CORPORATE Special Counsel, Department of the regulations requiring each financial ACTIVITIES; LICENSING Treasury, Comptroller of the Currency, institution and creditor to establish PROCEDURES Legislative and Regulatory Activities reasonable policies and procedures to Priority: Substantive, Nonsignificant Division, 250 E Street SW., implement the guidelines. The Washington, DC 20219 regulations must contain a provision Legal Authority: 12 USC 1 et seq; 12 Phone: 202 874–5090 requiring a card issuer to notify the USC 93a Fax: 202 874–4889 cardholder if the card issuer receives CFR Citation: 12 CFR 4; 12 CFR 5; 12 Email: [email protected] a notice of change of address for an CFR 19; 12 CFR 37 RIN: 1557–AC79 existing account, and a short time later Legal Deadline: None receives a request for an additional or replacement card. Abstract: This rulemaking would 2553. IDENTITY THEFT DETECTION, update certain provisions and make PREVENTION, AND MITIGATION Timetable: technical changes to OCC rules PROGRAM FOR FINANCIAL Action Date FR Cite governing corporate activities in 12 INSTITUTIONS AND CREDITORS CFR part 5. The rulemaking also would NPRM 12/00/04 Priority: Other Significant. Major status make technical changes to certain under 5 USC 801 is undetermined. Regulatory Flexibility Analysis provisions in 12 CFR part 4 to reflect Required: Undetermined OCC’s recent organizational restructing Unfunded Mandates: Undetermined Government Levels Affected: None and to 12 CFR part 9 to reflect changes Legal Authority: 15 USC 1681 in regulations adopted by the Securities Agency Contact: CFR Citation: 12 CFR 41 Deborah Katz, Senior and Exchange Commission (SEC). Counsel, Department of the Treasury, Additionally, the rulemaking would Legal Deadline: None Comptroller of the Currency, Legislative amend subpart O of 12 CFR part 19 Abstract: OCC, the Board of Governors and Regulatory Activities Division, 250 to combine current 12 CFR 19.240 and of the Federal Reserve System, the E Street SW., Washington, DC 20219 19.241 into one section, and would Federal Deposit Insurance Corporation, Phone: 202 874–5090 make a technical correction to the the Office of Thrift Supervision, the Fax: 202 874–4889 regulation governing debt cancellation National Credit Union Administration, Email: [email protected] contracts (DCC’s) and debt suspension and the Federal Trade Commission (the RIN: 1557–AC87 agreements (DSAs) in 12 CFR part 37. Agencies) are issuing a joint rulemaking Timetable: to establish guidelines and regulations to implement section 114 of the Fair 2554. IMPLEMENTATION OF A Action Date FR Cite and Accurate Credit Transactions Act REVISED BASEL CAPITAL ACCORD NPRM 12/00/04 of 2003. Section 114 requires the (BASEL II) Agencies to jointly issue guidelines for Regulatory Flexibility Analysis Regulatory Plan: This entry is Seq. No. financial institutions and creditors Required: No 113 in part II of this issue of the identifying patterns, practices, and Federal Register. Small Entities Affected: No specific forms of activity, that indicate Government Levels Affected: None the possible existence of identity theft. RIN: 1557–AC91

Department of the Treasury (TREAS) Final Rule Stage Comptroller of the Currency (OCC)

2555. ELECTRONIC FILING AND and principal shareholders of national Action Date FR Cite DISCLOSURE OF BENEFICIAL banks. Effective July 30, 2003, the OWNERSHIP REPORTS amendments required that beneficial Interim Final Rule 09/22/03 68 FR 54891 Effective Priority: Other Significant ownership reports be filed electronically and posted on the Interim Final Rule 11/30/03 68 FR 54981 Comment Period Legal Authority: 12 USC 93a; 15 USC issuer’s corporate website if it has a 78l; 15 USC 78p End website. The rulemaking would require Final Action 12/00/04 CFR Citation: 12 CFR 11 that beneficial ownership reports filed Legal Deadline: None by officers, directors, and principal Regulatory Flexibility Analysis shareholders of national bank be filed Required: No Abstract: The Sarbanes-Oxley Act of electronically pursuant to the Small Entities Affected: No 2002 made amendments to section FDICconnect system and that the 16(a) of the Securities Exchange Act of reports be placed on the website of Government Levels Affected: None 1934, which requires the filing of national banks that have websites. beneficial ownership reports by Agency Contact: Martha Vestal Clarke, officers, directors, and principal Timetable: Counsel, Department of the Treasury, shareholders of issuers of securities. Comptroller of the Currency, Legislative OCC administers and enforces section Action Date FR Cite and Regulatory Activities Division, 250 16(a) with respect to officers, directors, Interim Final Rule 09/22/03 68 FR 54981 E Street SW., Washington, DC 20219

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TREAS—OCC Final Rule Stage

Phone: 202 874–5090 2557. RULES, POLICIES, AND Fax: 202 874–4889 Fax: 202 874–4889 PROCEDURES FOR CORPORATE Email: [email protected] Email: [email protected] ACTIVITIES; CIVIL MONETARY PENALTIES ADJUSTMENT RIN: 1557–AC82 RIN: 1557–AC75 Priority: Substantive, Nonsignificant Legal Authority: 28 USC 2461 note 2558. PROPER DISPOSAL OF 2556. RULES, POLICIES, AND CONSUMER INFORMATION PROCEDURES FOR CORPORATE CFR Citation: 12 CFR 19.240; 12 CFR ACTIVITIES; OPERATING SUBSIDIARY 19.241 Priority: Other Significant ANNUAL REPORT Legal Deadline: Final, Statutory, Legal Authority: 15 USC 1681s(b); 15 December 11, 2004. Priority: Substantive, Nonsignificant USC 1681w Adjustments must be made at least Legal Authority: 12 USC 1 et seq; 12 once every 4 years. CFR Citation: 12 CFR 30 app B; 12 USC 93a; 12 USC 481 Abstract: This rulemaking would CFR 41 adjust civil money penalties to account CFR Citation: Legal Deadline: Final, Statutory, 12 CFR 5.34 for inflation. The Federal Civil December 4, 2004, 15 USC 1681w. Legal Deadline: None Penalties Inflation Act of 1990 (Inflation Adjustment Act), as amended 15 USC 1681W requires the banking agencies to issue final rules no later Abstract: This rulemaking would revise by the Debt Collection Improvement OCC’s rules governing national bank Act of 1996 (Debt Collection Act) than one year after date of enactment operating subsidiaries. The rulemaking requires federal agencies with authority of the statute. would require a national bank to file to administer civil money penalties Abstract: OCC, together with the Board an annual report with OCC that (CMPs) to publish regulations to adjust of Governors of the Federal Reserve identifies its operating subsidiaries that each CMP. The purpose of these System, Federal Deposit Insurance do business with consumers and are adjustments is to maintain the deterrent Corporation, and the Office of the not otherwise functionally regulated effect of CMPs and to promote Thrift Supervision, (the banking subsidiaries under section 5(c)(5) of the compliance with the law. The Debt agencies), are issuing a joint rulemaking Bank Holding Company Act of 1956, Collection Act provides detailed to implement section 216 of the Fair as amended. The proposed annual instructions on the manner in which and Accurate Credit Transactions Act filing would contain the name of each the inflation adjustment shall be of 2003. Section 216 requires the reportable operating subsidiary, its state calculated. The Inflation Adjustment banking agencies, the National Credit of incorporation, and a brief description Act requires adjustment to be made at Union Administration, the Securities of its activities. OCC would then make least once every four years following and Exchange Commission, and the this information available to the public the initial adjustment. OCC’s prior Federal Trade Commission to adopt on its Internet Web page. OCC adjustment to each CMP was published consistent and comparable regulations, in the Federal Register on December 11, anticipates that this rulemaking would to the extent possible, requiring entities 2000 at 65 FR 77250 and became not have a significant impact on subject to their jurisdiction to properly effective that same day. Accordingly, national banks. dispose of consumer information as a this final rule must be effective no later means to reduce the risk of identity Timetable: than December 11, 2004. theft. Action Date FR Cite Because the Debt Collection Act NPRM 03/25/04 69 FR 15260 provides OCC with no discretion in Timetable: NPRM Comment 04/26/04 calculating the amount of the civil Action Date FR Cite Period End money penalty adjustment, notice and Final Action 11/00/04 comment are unnecessary. Accordingly, NPRM 06/08/04 69 FR 31913 the changes to the regulation will be Final Action 12/00/04 Regulatory Flexibility Analysis issued as a final rule. Required: No Regulatory Flexibility Analysis Timetable: Required: No Government Levels Affected: Action Date FR Cite Undetermined Small Entities Affected: No Final Action 11/00/04 Government Levels Affected: None Federalism: Undetermined Regulatory Flexibility Analysis Required: Agency Contact: Patrick T. Tierney, No Agency Contact: Deborah Katz, Senior Attorney, Department of the Treasury, Small Entities Affected: No Counsel, Department of the Treasury, Comptroller of the Currency, Legislative Comptroller of the Currency, Legislative Government Levels Affected: None and Regulatory Activities Division, 250 and Regulatory Activities Division, 250 E Street SW., Washington, DC 20219 Agency Contact: Jean Campbell, Senior E Street SW., Washington, DC 20219 Phone: 202 874–5090 Attorney, Department of the Treasury, Phone: 202 874–5090 Fax: 202 874–4889 Comptroller of the Currency, Legislative Fax: 202 874–4889 Email: [email protected] and Regulatory Activities Division, 250 Email: [email protected] E Street SW., Washington, DC 20219 RIN: 1557–AC81 Phone: 202 874–5090 RIN: 1557–AC84

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TREAS—OCC Final Rule Stage

2559. FAIR CREDIT REPORTING 2560. FAIR CREDIT; AFFILIATE standards to ensure the safety and REGULATIONS; USE OF MEDICAL MARKETING REGULATIONS soundness of the national banking INFORMATION; FACT ACT Priority: Other Significant system and to implement statutory requirements, OCC is amending various Priority: Other Significant. Major status Legal Authority: 12 USC 1 et seq; 12 provisions of the capital rules for under 5 USC 801 is undetermined. USC 24 (seventh); 12 USC 93a; 12 USC national banks. The change involves 481; 12 USC 484; 12 USC 1818; 15 USC changes to securities borrowing Legal Authority: 12 USC 1 et seq; 12 1681a; 15 USC 1681b; 15 USC 1681s transactions. The interim final rule USC 24 (seventh); 12 USC 93a; 12 USC CFR Citation: 12 CFR 41 adopted changes to the capital 481; 12 USC 484; 12 USC 1818; 15 USC treatment of securities borrowing Legal Deadline: Other, Statutory, 1681a; 15 USC 1681(b); 15 USC 1681(s) transactions, specifically by amending August 6, 2004, See section 214 of the the market risk rules on the capital CFR Citation: 12 CFR 41 FACT Act, PL 108–159. treatment for cash collateral. OCC is Legal Deadline: None Abstract: OCC, the Board of Governors conducting this rulemaking jointly with of the Federal Reserve System, the the other Federal banking agencies. Abstract: OCC is considering a Federal Deposit Insurance Corporation, Timetable: rulemaking to implement section 411 the Office of the Thrift Supervision, the of the Fair and Accurate Credit National Credit Union Administration, Action Date FR Cite Transactions Act of 2003 (FACT Act). and the Federal Trade Commission are Interim Final Rule 12/05/00 65 FR 75856 Section 411(a) requires OCC to planning to issue a rulemaking that Final Action 09/00/05 prescribe regulations that permit would implement the affiliate-sharing creditors to obtain or use medical provisions of section 214 of the Fair Regulatory Flexibility Analysis information for certain credit eligibility and Accurate Credit Transactions Act Required: No purposes. Additionally, section 411(b) (FACT Act). The regulations would Small Entities Affected: No implement the consumer notice and restricts the sharing of medical Government Levels Affected: None information and related lists or opt-out provisions of the FACT Act descriptions with affiliates. However, it regarding the sharing of consumer Agency Contact: Ron Shimabukuro, permits sharing of experience information among affiliates for Special Counsel, Department of the information among affiliates and marketing purposes. Treasury, Comptroller of the Currency, Legislative and Regulatory Activities sharing other information among Timetable: affiliates after providing the consumer Division, 250 E Street SW., Action Date FR Cite notice and an opportunity to op-out. Washington, DC 20219 Finally, section 411(b) authorizes OCC NPRM 07/15/04 69 FR 42502 Phone: 202 874–5090 to issue rules to allow additional Final Action 11/00/04 Fax: 202 874–4889 Email: [email protected] sharing of information determined by Regulatory Flexibility Analysis OCC to be appropriate or necessary. Required: No Related RIN: Split from 1557–AB14 This rulemaking would establish for Government Levels Affected: RIN: 1557–AC90 OCC a new 12 CFR part 41, Fair Credit None Regulations, to implement the FACT Agency Contact: Patrick T. Tierney, Act and to allow certain sharing of Attorney, Department of the Treasury, 2562. ∑ INTERAGENCY GUIDANCE ON medical information. Comptroller of the Currency, Legislative RESPONSE PROGRAMS FOR and Regulatory Activities Division, 250 UNAUTHORIZED ACCESS TO Timetable: E Street SW., Washington, DC 20219 CUSTOMER INFORMATION AND Action Date FR Cite Phone: 202 874–5090 CUSTOMER NOTICE Fax: 202 874–4889 Priority: Other Significant NPRM 04/28/04 69 FR 23380 Email: [email protected] Final Action 11/00/04 Legal Authority: 15 USC 6801 RIN: 1557–AC88 CFR Citation: 12 CFR 30, app B Regulatory Flexibility Analysis Required: No 2561. SECURITIES BORROWING Legal Deadline: None TRANSACTIONS Abstract: OCC, the Board of Governors Small Entities Affected: No Priority: Substantive, Nonsignificant. of the Federal Reserve System, the Government Levels Affected: None Major status under 5 USC 801 is Federal Deposit Insurance Corporation, undetermined. and the Office of Thrift Supervision Agency Contact: Patrick T. Tierney, (the Agencies) are issuing an Attorney, Department of the Treasury, Legal Authority: 12 USC 93a; 12 USC interpretation of section 501(b) of the Comptroller of the Currency, Legislative 161; 12 USC 1828 note; 12 USC Gramm-Leach-Bliley Act and the and Regulatory Activities Division, 250 1828(n); 12 USC 1831n note; 12 USC Interagency Guidelines Establishing E Street SW., Washington, DC 20219 1835; 12 USC 3907; 12 USC 3909 Standards for Safeguarding Customer Phone: 202 874–5090 CFR Citation: 12 CFR 3 Information. This interpretation describes the Agencies’ expectations Fax: 202 874–4889 Legal Deadline: None Email: [email protected] regarding the response programs, Abstract: As part of OCC’s ongoing including customer notification RIN: 1557–AC85 efforts to develop and refine capital procedures, that a financial institution

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TREAS—OCC Final Rule Stage

should develop and implement to Timetable: Agency Contact: Deborah Katz, Senior address the unauthorized access to or Action Date FR Cite Counsel, Department of the Treasury, use of customer information that could Comptroller of the Currency, Legislative result in substantial harm or Final Action 11/00/04 and Regulatory Activities Division, 250 inconvenience to a customer. The Regulatory Flexibility Analysis E Street SW., Washington, DC 20219 agency published a notice and request Required: No Phone: 202 874–5090 for comment regarding this Fax: 202 874–4889 Small Entities Affected: No interpretation on August 12, 2003, at Email: [email protected] 68 FR 47954. Government Levels Affected: None RIN: 1557–AC92

Department of the Treasury (TREAS) Long-Term Actions Comptroller of the Currency (OCC)

2563. INTERAGENCY PROPOSAL TO Heidi M. Thomas Email: [email protected] CONSIDER ALTERNATIVE FORMS OF Phone: 202 874–5090 RIN: 1557–AC86 PRIVACY NOTICES UNDER THE Fax: 202 874–4889 GRAMM–LEACH–BLILEY ACT Email: [email protected] Priority: Substantive, Nonsignificant. RIN: 1557–AC80 2565. ACCURACY AND INTEGRITY OF Major status under 5 USC 801 is INFORMATION FURNISHED TO A undetermined. CONSUMER REPORTING AGENCY 2564. COMMUNITY REINVESTMENT Priority: CFR Citation: 12 CFR 40 ACT REGULATIONS Substantive, Nonsignificant Timetable: Priority: Substantive, Nonsignificant CFR Citation: Not Yet Determined Action Date FR Cite CFR Citation: 12 CFR 25 Timetable: ANPRM 12/30/03 68 FR 75164 Timetable: Action Date FR Cite ANPRM Comment 03/29/04 NPRM To Be Determined Period End Action Date FR Cite NPRM To Be Determined Interim Rule 07/08/04 69 FR 41181 Regulatory Flexibility Analysis Required: No Regulatory Flexibility Analysis Final Action To Be Determined Required: Undetermined Regulatory Flexibility Analysis Small Entities Affected: Businesses Government Levels Affected: None Required: No Government Levels Affected: None Federalism: Undetermined Small Entities Affected: No Agency Contact: Michael Bylsma Phone: 202 874–5750 Agency Contact: Amy S. Friend Government Levels Affected: None Fax: 202 874–5322 Phone: 202 874–5200 Agency Contact: Margaret Hesse Email: [email protected] Fax: 202 874–5374 Phone: 202 874–5750 Email: [email protected] Fax: 202 874–5322 RIN: 1557–AC89

Department of the Treasury (TREAS) Completed Actions Comptroller of the Currency (OCC)

2566. FAIR CREDIT REPORTING 2567. MAINTENANCE OF RECORDS 2568. RULES, POLICIES, AND REGULATIONS PROCEDURES FOR CORPORATE Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant ACTIVITIES CFR Citation: 12 CFR 7 CFR Citation: 12 CFR 41 Priority: Other Significant Completed: Completed: CFR Citation: 12 CFR 5 Reason Date FR Cite Reason Date FR Cite Completed: Withdrawn 09/14/04 Withdrawn 09/14/04 Reason Date FR Cite Regulatory Flexibility Analysis Regulatory Flexibility Analysis Required: Final Action 08/16/04 69 FR 50293 Required: No No Regulatory Flexibility Analysis Government Levels Affected: None Government Levels Affected: None Required: No Agency Contact: Patrick T. Tierney Agency Contact: Jean Campbell Phone: 202 874–5090 Phone: 202 874–5090 Government Levels Affected: None Fax: 202 874–4889 Fax: 202 874–4889 Agency Contact: Heidi M. Thomas Email: [email protected] Email: [email protected] Phone: 202 874–5090 RIN: 1557–AB78 RIN: 1557–AB99 Fax: 202 874–4889

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TREAS—OCC Completed Actions

Email: [email protected] Regulatory Flexibility Analysis Completed: Required: RIN: 1557–AC11 No Reason Date FR Cite Government Levels Affected: None NPRM 04/23/04 69 FR 21978 2569. RISK–BASED CAPITAL; Final Action 08/19/04 69 FR 51355 CAPITAL ADEQUACY GUIDELINES; Agency Contact: Ron Shimabukuro CAPITAL MAINTENANCE: INTERIM Phone: 202 874–5090 Regulatory Flexibility Analysis CAPITAL TREATMENT OF Fax: 202 874–4889 Required: No CONSOLIDATED ASSET–BACKED Email: [email protected] COMMERCIAL PAPER PROGRAM Small Entities Affected: No ASSETS Related RIN: Merged with 1557–AC77 Government Levels Affected: None Priority: Other Significant RIN: 1557–AC76 Agency Contact: CFR Citation: 12 CFR 3 Mitchell Plave Phone: 202 874–5090 Completed: 2570. LENDING LIMITS PILOT Fax: 202 874–4889 Reason Date FR Cite PROGRAM Email: [email protected] Extension of Final 04/26/04 69 FR 22383 Priority: Substantive, Nonsignificant Rule RIN: 1557–AC83 Final Action 07/28/04 69 FR 44908 CFR Citation: 12 CFR 32 BILLING CODE 4810–33–S

Department of the Treasury (TREAS) Proposed Rule Stage Internal Revenue Service (IRS)

2571. FOREIGN INSURANCE 1111 Constitution Avenue NW, Treasury attorney: Andrew Froberg COMPANIES Washington, DC 20224 (202) 622-1779 Priority: Substantive, Nonsignificant Phone: 202 622–3870 CC:INTL RIN: Legal Authority: 26 USC 7805; 26 USC 1545–AL82 Agency Contact: Theodore D. Setzer, 842; 26 USC 864 Attorney–Advisor, Department of the CFR Citation: 26 CFR 1 2572. COMPUTATION OF A BRANCH’S Treasury, Internal Revenue Service, TAXABLE INCOME; TAXATION OF 1111 Constitution Avenue NW, Legal Deadline: None EXCHANGE GAIN OR LOSS ON Washington, DC 20224 Abstract: This regulation will prescribe BRANCH REMITTANCES Phone: 202 622–3870 rules for determining income from Priority: Substantive, Nonsignificant RIN: 1545–AM12 stocks effectively connected under the asset use test with the conduct of an Legal Authority: 26 USC 7805 2573. OUTBOUND TRANSFERS OF insurance business in the United States CFR Citation: 26 CFR 1 by a foreign company. PROPERTY TO FOREIGN Legal Deadline: None CORPORATIONS Timetable: Abstract: This regulation relates to Priority: Substantive, Nonsignificant Action Date FR Cite branch rules and how to translate Legal Authority: 26 USC 7805; 26 USC NPRM 06/00/05 branch income, the taxation of exchange gain or loss on branch 367 Regulatory Flexibility Analysis remittances. CFR Citation: 26 CFR 1 Required: No Timetable: Legal Deadline: None Small Entities Affected: No Action Date FR Cite Abstract: The income tax regulations Government Levels Affected: None NPRM 09/25/91 56 FR 48457 under section 367(a) will be amended Additional Information: REG-209066-88 Second NPRM 12/00/04 to reflect the changes made to that (INTL-024-88) section by the Technical and Regulatory Flexibility Analysis Drafting attorney: Sheila Ramaswamy Miscellaneous Corrections Act of 1988. Required: No (202) 622-3870 Section 367(a)(5) now provides that a Small Entities Affected: No transfer of assets to a foreign Reviewing attorney: Steven Jensen (202) corporation in an exchange described 622-3870 Government Levels Affected: None in section 361 is subject to section Treasury attorney: Michael Caballero Additional Information: REG-208270-86 367(a)(1), unless certain ownership (202) 622-0851 (INTL-965-86) requirements and other conditions are met. The regulations will provide CC:INTL Drafting attorney: Theodore D. Setzer guidance regarding the application of Agency Contact: Sheila Ramaswamy, (202) 622-3870 this section. The change in the statute Attorney–Advisor, Department of the Reviewing attorney: Jeffrey Dorfman was necessitated by the repeal of Treasury, Internal Revenue Service, (202) 622-3870 ‘‘General Utilities.’’

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TREAS—IRS Proposed Rule Stage

Timetable: Phone: 202 622–3840 Timetable: Action Date FR Cite RIN: 1545–AO25 Action Date FR Cite NPRM 06/00/05 NPRM 12/00/04 Regulatory Flexibility Analysis 2575. TAXATION OF GLOBAL Regulatory Flexibility Analysis Required: No TRADING Required: No Small Entities Affected: No Priority: Substantive, Nonsignificant Small Entities Affected: No Government Levels Affected: None Legal Authority: 26 USC 7805; 26 USC Government Levels Affected: None 864; 26 USC 482; 26 USC 863 Additional Information: REG-209006-89 Additional Information: REG-208265-90 (INTL-089-89) CFR Citation: 26 CFR 1 (INTL-102-90) Drafting attorney: Richard L. Osborne Legal Deadline: None Drafting attorney: Garrett D. Gregory (202) 622-3860 Abstract: These regulations will (202) 622-3870 Reviewing attorney: Charles P. Besecky improve the taxation of global trading. Reviewing attorney: Paul S. Epstein (202) 622-3860 Timetable: (202) 622-3870 CC:INTL Action Date FR Cite Treasury attorney: Andrew Froberg (202) 622-1779 Agency Contact: Richard L. Osborne, ANPRM 08/28/90 55 FR 35152 Attorney–Advisor, Department of the NPRM 03/06/98 63 FR 11177 CC:INTL Treasury, Internal Revenue Service, NPRM Comment 06/04/98 Agency Contact: Garrett D. Gregory, 1111 Constitution Avenue NW, Period End Attorney–Advisor, Department of the Washington, DC 20224 Hearing 07/14/98 Treasury, Internal Revenue Service, Phone: 202 622–3860 Second NPRM 12/00/04 1111 Constitution Avenue NW, RIN: 1545–AM97 Regulatory Flexibility Analysis Washington, DC 20224 Required: No Phone: 202 622–3870 2574. FOREIGN INSURANCE Small Entities Affected: No RIN: 1545–AP10 COMPANY—DOMESTIC ELECTION Government Levels Affected: None Priority: Substantive, Nonsignificant Additional Information: REG-208299-90 2577. INTEGRATED FINANCIAL Legal Authority: 26 USC 7805; 26 USC (INTL-70-90) TRANSACTION 953 Drafting attorney: Theodore D. Setzer Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 (202) 622-3870 Legal Authority: 26 USC 7805; 26 USC Legal Deadline: None Reviewing attorney: Paul S. Epstein 864 (202) 622-3870 Abstract: This regulation will provide CFR Citation: 26 CFR 1 substantive and procedural rules Treasury attorney: Patricia Brown (202) Legal Deadline: None 622-1781 regarding the election under section Abstract: The regulation addresses 953(d) to treat certain controlled foreign CC:INTL whether funding raised for a securities corporations engaged in the insurance Agency Contact: Theodore D. Setzer, dealing and/or trading operation, and business as domestic corporations. Attorney–Advisor, Department of the whether matched book sale and Timetable: Treasury, Internal Revenue Service, repurchase transactions conducted by Action Date FR Cite 1111 Constitution Avenue NW, securities dealers qualify as integrated Washington, DC 20224 financial transactions under section NPRM 12/00/04 Phone: 202 622–3870 1.861-10(c). Regulatory Flexibility Analysis RIN: 1545–AP01 Timetable: Required: No Action Date FR Cite Small Entities Affected: No 2576. INFORMATION REPORTING AND NPRM 12/00/04 Government Levels Affected: None RECORD MAINTENANCE 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- 7801; 26 USC 6038C Government Levels Affected: None Lippe (202) 622-3840 CFR Citation: 26 CFR 1 Additional Information: REG-209604-93 Reviewing attorney: Phyllis Marcus Legal Deadline: None (202) 622-3840 (INTL-001-93) Abstract: This regulation will CC:INTL Drafting attorney: Theodore D. Setzer implement the directives of section (202) 622-3870 Agency Contact: Valerie A. 6038C. This will be accomplished by Mark–Lippe, Attorney–Advisor, requiring foreign corporations engaged Reviewing attorney: Paul S. Epstein Department of the Treasury, Internal in a U.S. business to provide specific (202) 622-3870 Revenue Service, 1111 Constitution information regarding related party Treasury attorney: Patricia Brown (202) Avenue NW, Washington, DC 20224 transactions. 622-1781

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TREAS—IRS Proposed Rule Stage

CC:INTL how section 1503(d), treatment of dual Agency Contact: M. Grace Fleeman, Agency Contact: Theodore D. Setzer, consolidated losses, will apply to Senior Counsel, Department of the Attorney–Advisor, Department of the partnerships. Treasury, Internal Revenue Service, Treasury, Internal Revenue Service, Timetable: 1111 Constitution Avenue NW, Washington, DC 20224 1111 Constitution Avenue NW, Action Date FR Cite Washington, DC 20224 Phone: 202 622–3880 Phone: 202 622–3870 NPRM 12/00/04 RIN: 1545–AU91 RIN: 1545–AR20 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None 2581. AGREEMENTS FOR PAYMENT 2578. FOREIGN TRUSTS OF TAX LIABILITIES IN Additional Information: REG-209564-92 REGULATIONS INSTALLMENTS (INTL-037-92) Priority: Substantive, Nonsignificant Drafting attorney: Kathryn T. Holman Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC (202) 622-3860 6048 Legal Authority: 26 USC 6159; 26 USC Reviewing attorney: Michael H. Frankel 7805 CFR Citation: 26 CFR 1 (202) 622-3860 Legal Deadline: None Treasury attorney: Michael Caballero CFR Citation: 26 CFR 301 Abstract: This document revises (202) 622-0851 Legal Deadline: None regulations relating to certain foreign CC:INTL trusts under section 6048 of the Abstract: The regulations reflect the Agency Contact: Internal Revenue Code. Kathryn T. Holman, amendment of I.R.C. section 6159, Attorney–Advisor, Department of the section 202 of the Taxpayer Bill of Timetable: Treasury, Internal Revenue Service, Rights 2, which provides that upon Action Date FR Cite 1111 Constitution Avenue NW, Washington, DC 20224 request by a taxpayer the Secretary NPRM 06/00/05 Phone: 202 622–3860 shall provide an independent review of the termination of an installment Regulatory Flexibility Analysis RIN: 1545–AR26 Required: No agreement. The regulations also reflect the amendment to section 6159(c), Small Entities Affected: No 2580. APPLICATION OF ATTRIBUTION which guarantees the availability of Government Levels Affected: None RULES TO FOREIGN TRUSTS installment agreements to taxpayers in Additional Information: REG-209594-92 Priority: Substantive, Nonsignificant certain circumstances. (INTL-067-92) Unfunded Mandates: Undetermined Timetable: Drafting attorney: M. Grace Fleeman Legal Authority: 26 USC 7805 Action Date FR Cite (202) 622-3880 CFR Citation: 26 CFR 1 Reviewing attorney: Elizabeth U. NPRM 12/31/97 62 FR 68241 Karzon (202) 622-3880 Legal Deadline: None Second NPRM 12/00/04 Treasury attorney: John Harrington Abstract: The regulations will provide Regulatory Flexibility Analysis (202) 622-0589 attribution rules for foreign trusts with Required: No respect to foreign personal holding CC:INTL companies, foreign passive investment Small Entities Affected: No Agency Contact: M. Grace Fleeman, companies, and controlled foreign Senior Counsel, Department of the corporations. Government Levels Affected: None Treasury, Internal Revenue Service, Timetable: Additional Information: REG-100841-97 1111 Constitution Avenue NW, Action Date FR Cite Washington, DC 20224 Drafting attorney: Frederick W. Phone: 202 622–3880 NPRM 12/00/04 Schindler (202) 622-3620 RIN: 1545–AR25 Regulatory Flexibility Analysis Reviewing attorney: Lawrence Required: No Schattner (202) 622-3620 2579. TREATMENT OF DUAL Small Entities Affected: No CC:PA:CBS CONSOLIDATED LOSSES Government Levels Affected: None Priority: Substantive, Nonsignificant Federalism: Undetermined Agency Contact: Frederick W. Legal Authority: 26 USC 1503; 26 USC Additional Information: REG-252774-96 Schindler, Attorney–Advisor, 7805 Department of the Treasury, Internal Drafting attorney: M. Grace Fleeman Revenue Service, 1111 Constitution CFR Citation: 26 CFR 1 (202) 622-3880 Avenue NW, Washington, DC 20224 Legal Deadline: None Reviewing attorney: Elizabeth Karzon Phone: 202 622–3620 Abstract: (202) 622-3880 The proposed regulation RIN: 1545–AU97 makes the determination of when and CC:INTL

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TREAS—IRS Proposed Rule Stage

2582. RULES FOR SOURCING Additional Information: REG-113129-98 2585. AWARDING OF COSTS AND CERTAIN TRANSPORTATION CERTAIN FEES Drafting attorney: Deborah Lambert- INCOME, SPACE, OR OCEAN Dean (202) 622-4570 Priority: Substantive, Nonsignificant ACTIVITY INCOME, AND RELATED FOREIGN BASE COMPANY SHIPPING Reviewing attorney: Donald Squires Legal Authority: 26 USC 7805; 26 USC INCOME (202) 622-4570 7430 CFR Citation: 26 CFR 1 Priority: Substantive, Nonsignificant Treasury attorney: Eric San Juan (202) Legal Deadline: Legal Authority: 26 USC 7805 622-0224 None Abstract: The proposed amendments to CFR Citation: 26 CFR 1 CC:PA:DPL the Treasury Regulations incorporate Legal Deadline: None Agency Contact: Deborah C. the 1997 and 1998 amendments to 26 Abstract: The regulation provides Lambert–Dean, Attorney–Advisor, U.S.C. 7430, relating to the awarding guidance for application of the source Department of the Treasury, Internal of attorney’s fees in administrative and rules for transportation income under Revenue Service, 1111 Constitution court proceedings. The amendments to section 863(c). Avenue NW, Washington, DC 20224 26 U.S.C. 7430 were enacted under the Phone: 202 622–4570 Taxpayer Relief Act of 1997 and the Timetable: Fax: 202 622–4520 IRS Restructuring and Reform Act of Action Date FR Cite 1998. RIN: 1545–AX40 NPRM 06/00/05 Timetable: Regulatory Flexibility Analysis 2584. CASH OR DEFERRED Action Date FR Cite Required: Undetermined ARRANGEMENTS (TEMPORARY) NPRM 12/00/04 Government Levels Affected: None Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis Additional Information: REG-115557-98 Required: No Unfunded Mandates: Undetermined Drafting attorney: Patricia A. Bray and Small Entities Affected: No Legal Authority: David L. Lundy (202 622-3880 26 USC 7805 Government Levels Affected: None Reviewing attorney: Elizabeth Karzon CFR Citation: 26 CFR 1 Additional Information: REG-111833-99 (202) 622-3880 Legal Deadline: None Drafting attorney: Tami C. Belouin Treasury attorney: Carl Dubert (202) Abstract: The proposed regulations (202) 622-3847 622-0222 update and revise regulations for cash Reviewing attorneys: Susan T. Mosley CC:INTL or deferred arrangements. (202) 622-7950 and Henry S. Schneiderman (202) 622-3400 Agency Contact: Patricia A. Bray, Timetable: Attorney–Advisor, Department of the Treasury attorney: Julian Kim (202) Treasury, Internal Revenue Service, Action Date FR Cite 622-1981 1111 Constitution Avenue NW, Temporary 12/00/04 CC:PA:APJ Washington, DC 20224 Regulations Agency Contact: Phone: 202 622–3880 Tami C. Belouin, Regulatory Flexibility Analysis Attorney–Advisor, Department of the RIN: 1545–AX02 Required: No Treasury, Internal Revenue Service, Small Entities Affected: Businesses 1111 Constitution Avenue NW, 2583. INSPECTION OF WRITTEN Washington, DC 20224 Government Levels Affected: None DETERMINATIONS Phone: 202 622–3847 RIN: Priority: Substantive, Nonsignificant Additional Information: REG-108639-99 1545–AX46 Unfunded Mandates: Undetermined Drafting attorney: R. Lisa Mojiri-Azad (202) 622-6080 2586. HIGHLY COMPENSATED Legal Authority: 26 USC 7805 EMPLOYEE Reviewing attorney: Marjorie Hoffman CFR Citation: 26 CFR 301 (202) 622-6030 Priority: Substantive, Nonsignificant Legal Deadline: None Treasury attorney: W. Thomas Reeder Legal Authority: 26 USC 414 Abstract: This regulation amends (202) 622-1341 CFR Citation: 26 CFR 1 Treasury Regulation section 301.6110- Legal Deadline: 1 to include Chief Counsel Advice. CC:TEGE None Abstract: Timetable: Agency Contact: R. Lisa Mojiri–Azad, This regulations will provide Senior Attorney, Department of the the definition of highly compensated Action Date FR Cite Treasury, Internal Revenue Service, employee. NPRM 03/00/05 1111 Constitution Avenue NW, Timetable: Regulatory Flexibility Analysis Washington, DC 20224 Action Date FR Cite Phone: 202 622–6060 Required: No NPRM 12/00/04 Related RIN: Small Entities Affected: No Related to 1545–AX26 Regulatory Flexibility Analysis Government Levels Affected: None RIN: 1545–AX43 Required: No

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TREAS—IRS Proposed Rule Stage

Small Entities Affected: No 2588. DEFINITION OF PASSIVE Abstract: This regulation clarifies when FOREIGN INVESTMENT COMPANY a controlled foreign corporation cannot Government Levels Affected: None UNDER SECTION 1297 exclude sales income from foreign- Additional Information: REG-111277-99 Priority: Substantive, Nonsignificant based company sales income under the manufacturing exception by reason of Drafting attorney: R. Lisa Mojiri-Azad Legal Authority: 26 USC 7805; 26 USC activities of a contract manufacturer. (202) 622-6080 1297 Likewise, the branch rule under IRC Reviewing attorney: Marjorie Hoffman CFR Citation: 26 CFR 1 section 954(d)(2) does not apply to a (202) 622-6030 Legal Deadline: None contract manufacturer. Timetable: CC:TEGE Abstract: This regulation defines a passive foreign investment company Action Date FR Cite Agency Contact: R. Lisa Mojiri–Azad, (PFIC) under section 1297(a) and the NPRM 12/00/04 Senior Attorney, Department of the terms ‘‘passive income’’ and ‘‘passive Treasury, Internal Revenue Service, asset’’ under section 1297(b). The Regulatory Flexibility Analysis 1111 Constitution Avenue NW, regulation will also set forth the Required: No Washington, DC 20224 exceptions to the terms ‘‘passive Small Entities Affected: No Phone: 202 622–6060 income’’ and ‘‘passive asset,’’ and Government Levels Affected: None RIN: 1545–AX48 provide guidance on the applicability of the look-through rule under section Federalism: Undetermined 1297(c), in cases involving PFICs that Additional Information: REG-106356-00 2587. MODIFICATION TO SECTION own 25 percent or more of a lower- Drafting attorney: Valerie A. Mark- 367(A) STOCK TRANSFER tier foreign subsidiary. In addition, the Lippe (202) 622-3840 REGULATIONS regulation will provide guidance under Reviewing attorney: Phyllis E. Marcus Priority: Substantive, Nonsignificant section 1297(e), regarding the overlap rule between a controlled foreign (202) 622-3840 Legal Authority: 26 USC 367 corporation and a PFIC. CC:INTL CFR Citation: 26 CFR 1; 26 CFR 602 Timetable: Agency Contact: Valerie A. Mark–Lippe, Attorney–Advisor, Legal Deadline: None Action Date FR Cite Department of the Treasury, Internal NPRM 12/00/04 Abstract: This regulation will modify Revenue Service, 1111 Constitution section 367(a), stock transfer Regulatory Flexibility Analysis Avenue NW, Washington, DC 20224 regulations, to address abuses under Required: No Phone: 202 622–3840 check-the-box and through the use of Small Entities Affected: No RIN: 1545–AX91 convertible stock. Government Levels Affected: None Timetable: Additional Information: REG-100427-00 2590. GUIDANCE ON CHANGES TO Action Date FR Cite Drafting attorney: Ethan A. Atticks THE LAWS FOR CORPORATE ESTIMATED TAXES NPRM 12/00/04 (202) 622-3840 Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis Reviewing attorney: Valerie A. Mark Required: No Lippe (202) 622-3840 Legal Authority: 26 USC 7805; 26 USC Treasury attorney: Carl Dubert (202) 6655 Small Entities Affected: No 622-0222 CFR Citation: Not Yet Determined Government Levels Affected: None CC:INTL Legal Deadline: None Additional Information: REG-116053-99 Agency Contact: Ethan A. Atticks, Abstract: The proposed regulations Attorney–Advisor, Department of the provide guidance on changes to the law Drafting attorney: Robert W. Lorence Treasury, Internal Revenue Service, for corporate estimated taxes. (202) 622-3860 1111 Constitution Avenue NW, Timetable: Reviewing attorney: Charles Besecky Washington, DC 20224 (202) 622-3860 Phone: 202 622–3840 Action Date FR Cite NPRM 12/00/04 Treasury attorney: Michael Caballero RIN: 1545–AX78 (202) 622-0851 Regulatory Flexibility Analysis Required: No CC:INTL 2589. CLARIFICATION OF FOREIGN–BASED COMPANY SALES Small Entities Affected: Businesses Agency Contact: Robert W. Lorence, INCOME RULES Government Levels Affected: None Senior Counsel, Department of the Priority: Substantive, Nonsignificant Treasury, Internal Revenue Service, Additional Information: REG-107722-00 1111 Constitution Avenue NW, Legal Authority: 26 USC 7805; 26 USC Drafting attorney: Joseph DeWald (202) Washington, DC 20224 954 622-4910 Phone: 202 622–3860 CFR Citation: 26 CFR 1 Reviewing attorney: Pamela W. Fuller RIN: 1545–AX77 Legal Deadline: None (202) 622-4910

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TREAS—IRS Proposed Rule Stage

Treasury attorney: George Manousos Phone: 202 622–3860 to the transfer of intangibles to foreign (202) 622-1335 corporations. CC:PA:APJ Ronald M. Gootzeit, Attorney–Advisor, Timetable: Department of the Treasury, Internal Agency Contact: Joseph P. Dewald, Revenue Service, 1111 Constitution Action Date FR Cite Attorney–Advisor, Department of the Avenue NW, Washington, DC 20224 NPRM 12/00/04 Treasury, Internal Revenue Service, Phone: 202 622–3860 1111 Constitution Avenue NW, Regulatory Flexibility Analysis Washington, DC 20224 Related RIN: Related to 1545–BD80 Required: No Phone: 202 622–4910 RIN: 1545–AY28 Small Entities Affected: No RIN: 1545–AY22 Government Levels Affected: None 2592. TAXABLE YEARS OF Federalism: Undetermined 2591. WITHHOLDING TAX ON CONTROLLED FOREIGN FOREIGN PARTNERS’ SHARE OF CORPORATIONS (CFCS) AND Additional Information: REG-106877-00 EFFECTIVELY CONNECTED INCOME FOREIGN PERSONAL HOLDING Drafting attorney: Thomas D. Beem COMPANIES (FPHCS) Priority: Substantive, Nonsignificant (202) 622-3860 Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC Reviewing attorney: Michael H. Frankel 1446 Legal Authority: 26 USC 7805; 26 USC (202) 622-3860 898 CFR Citation: 26 CFR 1 Treasury attorney: David Ernick (202) CFR Citation: 26 CFR 1 622-1754 Legal Deadline: None Legal Deadline: CC:INTL Abstract: The regulations provide None guidance for partnerships obligated to Abstract: This regulation will provide Agency Contact: Thomas D. Beem, pay withholding tax under section 1446 definitions and rules for determining Attorney–Advisor, Department of the of the Internal Revenue Code. the required year for CFCs and FPHCs. Treasury, Internal Revenue Service, Specifically, the proposed and Timetable: 1111 Constitution Avenue NW, 1111 temporary regulations address the Constitution Avenue NW, Washington, circumstances under which a Action Date FR Cite DC 20224 partnership may reduce its withholding NPRM 12/00/04 Phone: 202 622–3860 tax due based upon certifications of Regulatory Flexibility Analysis RIN: 1545–AY41 losses by foreign partners or when the Required: No partnership is in bankruptcy. The temporary regulations will be effective Small Entities Affected: No 2594. PREVIOUSLY TAXED EARNINGS AND PROFITS UNDER SUBPART F for partnership taxable years beginning Government Levels Affected: None after the date the regulations are Priority: Substantive, Nonsignificant published in the Federal Register. Additional Information: REG-108523-00 Unfunded Mandates: Undetermined Timetable: Drafting attorney: Jeffrey L. Vinnik (202) 622-3840 Legal Authority: 26 USC 7805; 26 USC Action Date FR Cite 959 Reviewing attorney: Phyllis Marcus NPRM 09/03/03 68 FR 52466 (202) 622-3840 CFR Citation: 26 CFR 1 Second NPRM 03/00/05 CC:INTL Legal Deadline: None Regulatory Flexibility Analysis Required: No Agency Contact: Jeffrey L. Vinnik, Abstract: This regulation will address Attorney–Advisor, Department of the the determination of previously taxed Small Entities Affected: Businesses Treasury, Internal Revenue Service, earnings and profits under subpart F. Government Levels Affected: 1111 Constitution Avenue NW, Timetable: Undetermined Washington, DC 20224 Action Date FR Cite Additional Information: REG-108524-00 Phone: 202 622–3840 NPRM 12/00/04 Drafting attorneys: David J. Sotos (202) RIN: 1545–AY30 622-3860; Ronald M. Gootzeit (202) Regulatory Flexibility Analysis 622-3860 2593. SPECIAL RULES RELATING TO Required: No Reviewing attorney: Michael H. Frankel TRANSFERS OF INTANGIBLES TO Small Entities Affected: No (202) 622-3860 FOREIGN CORPORATIONS Government Levels Affected: None Treasury attorney: Michael Caballero Priority: Substantive, Nonsignificant Additional Information: REG-121509-00 (202) 622-0851 Legal Authority: 26 USC 7805; 26 USC Drafting attorney: Jonathan A. Sambur CC:INTL 367 (202) 622-3840 Agency Contact: David J. Sotos, CFR Citation: 26 CFR 1 Attorney–Advisor, Department of the Reviewing attorney: Phyllis E. Marcus Treasury, Internal Revenue Service, Legal Deadline: None (202) 622-3840 1111 Constitution Avenue NW, Abstract: The regulations will address Treasury attorney: Carl Dubert (202) Washington, DC 20224 the income tax consequences relating 622-0222

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TREAS—IRS Proposed Rule Stage

CC:INTL information in judicial and Drafting attorney: Ethan A. Atticks Agency Contact: Jonathan A. Sambur, administrative tax proceedings (202) 622-3840 Attorney–Advisor, Department of the pursuant to 26 U.S.C. 6103(h)(4). Reviewing attorney: Valerie Mark-Lippe Treasury, Internal Revenue Service, Timetable: (202) 622-3840 1111 Constitution Avenue NW, Action Date FR Cite Treasury attorney: Andy Froberg (202) Washington, DC 20224 622-1779 Phone: 202 622–3840 NPRM 06/00/05 CC:INTL RIN: 1545–AY54 Regulatory Flexibility Analysis Required: No Agency Contact: Ethan A. Atticks, Attorney–Advisor, Department of the Small Entities Affected: 2595. LIABILITIES ASSUMED IN No Treasury, Internal Revenue Service, CERTAIN CORPORATE Government Levels Affected: None 1111 Constitution Avenue NW, TRANSACTIONS Additional Information: REG-120297-01 Washington, DC 20224 Priority: Substantive, Nonsignificant Phone: 202 622–3840 Drafting attorney: Geoffrey M. Campbell RIN: Legal Authority: 26 USC 357 (202) 622-4570 1545–AY92 CFR Citation: 26 CFR 1 Reviewing attorney: David L. Fish (202) Legal Deadline: None 622-4580 2598. TRANSACTIONS INVOLVING OBLIGATIONS OF CONSOLIDATED Abstract: These proposed regulations Treasury attorney: Eric San Juan (202) GROUP MEMBERS relate to the assumption of liabilities 622-0224 in certain corporate transactions under Priority: Substantive, Nonsignificant CC:PA:DPL section 357 of the Internal Revenue Legal Authority: 26 USC 7805; 26 USC Code, and affect corporations and their Agency Contact: Geoffrey M. 1502 shareholders. Campbell, Attorney, Department of the CFR Citation: 26 CFR 1 Timetable: Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Legal Deadline: None Action Date FR Cite Washington, DC 20024 Abstract: The proposed regulations are ANPRM 05/06/03 68 FR 23931 Phone: 202 622–4570 in regard to intercompany obligations. NPRM 06/00/05 RIN: 1545–AY89 Timetable: Regulatory Flexibility Analysis Required: No Action Date FR Cite 2597. TRANSITIONAL RELIEF FOR NPRM 11/00/04 Small Entities Affected: No QUALIFIED INTERMEDIARIES Regulatory Flexibility Analysis Government Levels Affected: None Priority: Substantive, Nonsignificant. Required: No Additional Information: REG-100818-01 Major status under 5 USC 801 is Small Entities Affected: No Drafting attorney: Douglas C. Bates undetermined. (202) 622-7550 Unfunded Mandates: Undetermined Government Levels Affected: None Reviewing attorney: Debra Carlisle Legal Authority: 26 USC 7805; 26 USC Additional Information: REG-107592-00 (202) 622-7550 1441 Drafting attorney: Frances Kelly (202) CC:COR CFR Citation: 26 CFR 1 622-7072 Agency Contact: Douglas C. Bates, Legal Deadline: None Reviewing attorney: Michael J. Wilder Attorney–Advisor, Department of the (202) 622-3393 Abstract: The regulation will Treasury, Internal Revenue Service, Treasury attorney: Audrey Nacamuli promulgate Notices 2001-4, 2001-11 1111 Constitution Avenue NW, (202) 622-5721 Washington, DC 20224 and 2001-43 into the section 1441 CC:COR Phone: 202 622–7550 regulation. Generally, the Notices provide transitional relief with respect Agency Contact: Frances L. Kelly, RIN: 1545–AY74 to the new withholding regime for Attorney–Advisor, Department of the qualified intermediaries. Treasury, Internal Revenue Service, 2596. DISCLOSURE OF RETURNS Timetable: 1111 Constitution Avenue NW, AND RETURN INFORMATION IN Washington, DC 20224 JUDICIAL AND ADMINISTRATIVE TAX Action Date FR Cite Phone: 202 622–7770 PROCEEDINGS NPRM 12/00/04 Related RIN: Related to 1545–AW30 Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis RIN: 1545–BA11 Unfunded Mandates: Undetermined Required: No Small Entities Affected: Legal Authority: 26 USC 6103 No 2599. DEDUCTIBILITY OF EMPLOYER CFR Citation: 26 CFR 301 Government Levels Affected: CONTRIBUTIONS FOR DEFERRED Undetermined Legal Deadline: None COMPENSATION Abstract: This proposed rule relates to Federalism: Undetermined Priority: Substantive, Nonsignificant the disclosure of returns and return Additional Information: REG-125443-01 Unfunded Mandates: Undetermined

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TREAS—IRS Proposed Rule Stage

Legal Authority: 26 USC 7805 Drafting attorney: Susan Athy (202) Reviewing attorney: Robert A. Miller CFR Citation: 26 CFR 1 622-3130 (202) 622-3600 Legal Deadline: None Reviewing attorneys: Frank Boland Treasury attorney: Jonathan Ackerman (202) 622-3130 and Phillip Howard (202) 622-1981 Abstract: These regulations will update (202) 622-3000 and clarify the general rules for CC:PA:CBS Treasury attorney: John Parcell (202) deductibility of employer contributions 622-2578 Agency Contact: Elizabeth D. Rawlins, to qualified retirement plans and other Attorney–Advisor, Department of the deferred compensation arrangements. CC:PSI Treasury, Internal Revenue Service, Timetable: Agency Contact: Susan Athy, 1111 Constitution Avenue NW, Attorney–Advisor, Department of the Washington, DC 20224 Action Date FR Cite Treasury, Internal Revenue Service, Phone: 202 622–3600 NPRM 06/00/05 1111 Constitution Avenue NW, RIN: 1545–BA31 Regulatory Flexibility Analysis Washington, DC 20224 Phone: 202 622–3130 Required: No RIN: 1545–BA27 2602. INCOME FROM SOURCES Small Entities Affected: Businesses WITHIN SPECIFIED POSSESSION Government Levels Affected: None Priority: 2601. SUSPENSION OF STATUTES OF Substantive, Nonsignificant Additional Information: REG-139449-01 LIMITATION IN JOHN DOE AND Legal Authority: 26 USC 7805; 26 USC Drafting attorney: Linda S.F. Marshall THIRD–PARTY SUMMONS DISPUTES, 931; 26 USC 911 (202) 622-6090 AND EXPANSION OF TAXPAYERS’ CFR Citation: 26 CFR 1 RIGHTS TO RECEIVE NOTICE AND Reviewing attorney: Mark Schwimmer SEEK JUDICIAL REVIEW OF THIRD Legal Deadline: None (202) 622-6090 PARTY SUMMONSES Abstract: This regulation will remove Treasury attorney: Thomas Reeder (202) Priority: Substantive, Nonsignificant section 1.931-1 and references thereto 622-1341 Legal Authority: 26 USC 7603; 26 USC in other sections. CC:TEGE 7609 Timetable: Agency Contact: Linda Marshall, CFR Citation: 26 CFR 301 Action Date FR Cite Senior Counsel, Department of the Treasury, Internal Revenue Service, Legal Deadline: None NPRM 06/00/05 1111 Constitution Avenue NW, Abstract: The proposed regulation Regulatory Flexibility Analysis Washington, DC 20224 provides guidance regarding modified Required: No Phone: 202 622–8012 rules for serving summonses on third- party recordkeepers, the broadened Small Entities Affected: No RIN: 1545–BA13 range of summonses subject to the Government Levels Affected: None notice requirements, and the Additional Information: REG-159068-01 2600. GASOLINE TAX CLAIMS suspension of limitations periods when Drafting attorney: Ethan A. Atticks Priority: Substantive, Nonsignificant court actions are brought or when a summoned third party fails to fully (202) 622-3840 Legal Authority: 26 USC 7805; 26 USC respond to a summons. This proposed Reviewing attorney: Phyllis E. Marcus 6416 regulation incorporates the changes (202) 622-3840 CFR Citation: 26 CFR 48 enacted in the Internal Revenue Service Restructuring and Reform Act of 1998, Treasury attorney: Carl Dubert (202) Legal Deadline: None Omnibus Budget Reconciliation Act of 622-0222 Abstract: The proposed regulation will 1990, Technical and Miscellaneous CC:INTL provide guidance regarding claims for Revenue Act of 1988, and the Tax Agency Contact: Ethan A. Atticks, credit or refund of the gasoline tax Reform Act of 1986. This regulation is Attorney–Advisor, Department of the under section 6416(b)(2) of the Internal a continuation of the regulation project Treasury, Internal Revenue Service, Revenue Code. previously numbered at REG-208225- 1111 Constitution Avenue NW, 88. Timetable: Washington, DC 20224 Action Date FR Cite Timetable: Phone: 202 622–3840 Action Date FR Cite ANPRM 10/23/01 66 FR 53564 RIN: 1545–BA37 NPRM 06/00/05 NPRM 12/00/04 Regulatory Flexibility Analysis Regulatory Flexibility Analysis 2603. TREATMENT OF CERTAIN Required: No Required: No OBLIGATION–SHIFTING TRANSACTIONS Small Entities Affected: Businesses, Small Entities Affected: No Governmental Jurisdictions Government Levels Affected: None Priority: Substantive, Nonsignificant Government Levels Affected: Local, Additional Information: REG-153037-01 Legal Authority: 26 USC 7805; 26 USC State, Tribal Drafting attorney: Elizabeth D. Rawlins 864(c)(6); 26 USC 7701(e) Additional Information: REG-143219-01 (202) 622-3600 CFR Citation: 26 CFR 1

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TREAS—IRS Proposed Rule Stage

Legal Deadline: None Reviewing attorney: Bruce M. Serchuk 2606. PROVISIONS REGARDING Abstract: This regulation proposes a (202) 622-3980 CROSS–BORDER TRANSACTIONS rule that applies to a single taxpayer Treasury attorney: Stephen J. Watson Priority: Substantive, Nonsignificant. engaging in certain tax-motivated (202) 622-1322 Major status under 5 USC 801 is obligation-shifting transfers to prevent undetermined. tax avoidance. Similar multi-party tax CC:TEGE Unfunded Mandates: Undetermined avoidance techniques are addressed by Property Treasury Regulation section Agency Contact: Rose M. Weber, Legal Authority: 26 USC 7805; 26 USC 1.7701(i)-2 (1996). This regulation also Attorney–Advisor, Department of the 368(a) would modify a rule in the proposed Treasury, Internal Revenue Service, CFR Citation: 26 CFR 1 1111 Constitution Avenue NW, regulation dealing with certain related- Legal Deadline: None party transfers that might, in its present Washington, DC 20224 form, present opportunities for tax Phone: 202 622–3980 Abstract: This proposed regulation will avoidance. make conforming changes to account RIN: 1545–BA45 for cross-border section 368(a)(1)(A) Timetable: mergers. Action Date FR Cite 2605. ALLOCATION AND Timetable: NPRM 12/00/04 APPORTIONMENT RULES: GUIDANCE Action Date FR Cite Regulatory Flexibility Analysis ON SELECTED ISSUES NPRM 12/00/04 Required: No Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis Small Entities Affected: No Legal Authority: 26 USC 7805; 26 USC Required: No Government Levels Affected: None 863 Small Entities Affected: No Additional Information: REG-160799-01 CFR Citation: 26 CFR 1 Government Levels Affected: None Drafting attorney: Jeffrey L. Vinnik (202) 622-3840 Legal Deadline: None Federalism: Undetermined Additional Information: REG-125628-01 Reviewing attorney: David N. Bowen Abstract: This regulation provides (202) 622-3800 guidance with respect to the allocation Drafting attorney: Robert W. Lorence Treasury attorney: Rocco Femia (202) and apportionment under section 861 (202) 622-3860 622-1755 of selected deductions, e.g., disaster Reviewing attorney: Charles Besecky CC:INTL losses and research and (202) 622-3860 experimentation expenses. Agency Contact: Jeffrey L. Vinnik, CC:INTL Attorney–Advisor, Department of the Timetable: Agency Contact: Robert W. Lorence, Treasury, Internal Revenue Service, Action Date FR Cite Senior Counsel, Department of the 1111 Constitution Avenue NW, Treasury, Internal Revenue Service, Washington, DC 20224 NPRM 06/00/05 1111 Constitution Avenue NW, Phone: 202 622–3840 Regulatory Flexibility Analysis Washington, DC 20224 RIN: 1545–BA41 Required: No Phone: 202 622–3860 RIN: 1545–BA65 Small Entities Affected: 2604. MULTIFAMILY HOUSING BONDS No Priority: Substantive, Nonsignificant Government Levels Affected: None 2607. CIRCULAR 230—PHASE 2 NONSHELTER REVISIONS Legal Authority: 26 USC 7805 Additional Information: REG-128240-01 CFR Citation: 26 CFR 1 Priority: Substantive, Nonsignificant Drafting attorney: Teresa B. Hughes Unfunded Mandates: Undetermined Legal Deadline: None (202) 622-3850 Abstract: These regulations relate to Legal Authority: 31 USC 330 Reviewing attorney: Anne O. Devereaux various issues with respect to CFR Citation: 26 CFR 1 multifamily housing bonds. (202) 622-3850 Legal Deadline: None Timetable: Treasury attorney: John Harrington Abstract: These regulations propose (202) 622-0589 Action Date FR Cite amendments to the rules governing NPRM 12/00/04 CC:INTL practice before the Internal Revenue Service. Regulatory Flexibility Analysis Agency Contact: Teresa B. Hughes, Timetable: Required: Undetermined Attorney–Advisor, Department of the Government Levels Affected: Local, Treasury, Internal Revenue Service, Action Date FR Cite State 1111 Constitution Avenue NW, ANPRM 12/19/02 67 FR 77724 Additional Information: REG-163765-01 Washington, DC 20224 NPRM 12/00/04 Phone: 202 622–3850 Drafting attorney: Rose M. Weber (202) Regulatory Flexibility Analysis 622-3980 RIN: 1545–BA64 Required: No

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TREAS—IRS Proposed Rule Stage

Small Entities Affected: No 2609. GUIDANCE TO FACILITATE Treasury attorney: Eric San Juan (202) ELECTRONIC TAX ADMINISTRATION Government Levels Affected: None 622-0224 Priority: Substantive, Nonsignificant CC:PA:APJ Additional Information: REG-122380-02 Unfunded Mandates: Undetermined Agency Contact: Charles A. Hall, Drafting attorney: Heather L. Dostaler Senior Counsel, Department of the (202) 622-8445 Legal Authority: 26 USC 7805 Treasury, Internal Revenue Service, CFR Citation: Reviewing attorney: Richard S. 26 CFR 301 1111 Constitution Avenue NW, Goldstein (202) 622-7820 Legal Deadline: None Washington, DC 20224 Treasury attorney: Julian Kim (202) Abstract: This regulation will facilitate Phone: 202 622–4940 622-1981 electronic tax administration. RIN: 1545–BA99 CC:PA:APJ Timetable: Agency Contact: Heather L. Dostaler, Action Date FR Cite 2611. COMMUNICATIONS EXCISE TAX; TAXABLE COMMUNICATION Attorney–Advisor, Department of the NPRM 12/00/04 SERVICES Treasury, Internal Revenue Service, Regulatory Flexibility Analysis 1111 Constitution Avenue NW, Required: No Priority: Substantive, Nonsignificant Washington, DC 20224 Small Entities Affected: No Legal Authority: 26 USC 4251; 26 USC Phone: 202 622–4940 7805 Government Levels Affected: None RIN: 1545–BA72 CFR Citation: 26 CFR 49 Additional Information: REG-137243-02 Legal Deadline: None 2608. ALLOCATION OF NEW Drafting attorney: Bridget E. Tombul Abstract: MARKETS TAX CREDIT (202) 622-4940 This regulation provides a definition of taxable communications Priority: Substantive, Nonsignificant Reviewing attorney: Ashton P. Trice services under section 4251. (202) 622-4940 Unfunded Mandates: Undetermined Timetable: Treasury attorney: John Parcell (202) Legal Authority: 26 USC 45D; 26 USC 622-2578 Action Date FR Cite 7805 CC:PA:APJ ANPRM 07/02/04 69 FR 40345 CFR Citation: 26 CFR 1 Agency Contact: Bridget E. Tombul, NPRM 12/00/04 Legal Deadline: None Attorney–Advisor, Department of the Regulatory Flexibility Analysis Required: Abstract: The regulations will address Treasury, Internal Revenue Service, No how the section 45D new markets tax 1111 Constitution Avenue NW, Small Entities Affected: No credit should be allocated to the Washington, DC 20224 Phone: 202 622–4940 Government Levels Affected: partners of a partnership under section Undetermined 704(b) of the Internal Revenue Code RIN: 1545–BA96 and will address related partnership Additional Information: REG-137076-02 issues. 2610. TIMELY MAILING TREATMENT Drafting attorney: Cynthia A. McGreevy (202) 622-3130 Timetable: Priority: Substantive, Nonsignificant Action Date FR Cite Reviewing attorneys: Frank Boland Legal Authority: 26 USC 7502 (202) 622-3130 and Phillip Howard NPRM 06/00/05 CFR Citation: 26 CFR 301 (202) 622-3000 Regulatory Flexibility Analysis Legal Deadline: None Treasury attorney: John Parcell (202) Required: No Abstract: This regulation will expressly 622-2578 Small Entities Affected: Businesses provide that a registered or certified CC:PSI Government Levels Affected: None mail receipt is the sole means to prove Agency Contact: Cynthia A. McGreevy, delivery of a document to the Internal Additional Information: REG-131999-02 Attorney–Advisor, Department of the Revenue Service. Treasury, Internal Revenue Service, Drafting attorney: Michael Goldman Timetable: 1111 Constitution Avenue NW, (202) 622-3080 Action Date FR Cite Washington, DC 20224 Reviewing attorney: James Quinn (202) Phone: 202 622–3130 NPRM 12/00/04 622-3070 RIN: 1545–BB04 Regulatory Flexibility Analysis CC:PSI Required: Undetermined Agency Contact: 2612. COST SHARING Michael Goldman, Government Levels Affected: None Attorney–Advisor, Department of the Priority: Substantive, Nonsignificant Treasury, Internal Revenue Service, Additional Information: REG-138176-02 1111 Constitution Avenue NW, Drafting attorney: Charles A. Hall (202) Legal Authority: 26 USC 7805; 26 USC Washington, DC 20224 622-4940 482 Phone: 202 622–3080 Reviewing attorney: Ashton Trice (202) CFR Citation: 26 CFR 1 RIN: 1545–BA84 622-4940 Legal Deadline: None

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TREAS—IRS Proposed Rule Stage

Abstract: These proposed regulations Government Levels Affected: None CFR Citation: 26 CFR 1 will provide additional guidance on Additional Information: REG-144784-02 Legal Deadline: None cost sharing arrangements under section 482. Drafting attorney: Ginny Y. Chung (202) Abstract: This regulation relates to 622-3850 taxation of cross-border and foreign-to- Timetable: Reviewing attorney: Barbara Felker foreign substitute dividend payments in Action Date FR Cite (202) 622-3850 securities lending and similar NPRM 12/00/04 transactions. 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 Required: Undetermined Phone: 202 622–3850 Additional Information: REG-144615-02 Government Levels Affected: Federal RIN: 1545–BB28 Drafting attorneys: David Bowen (202) Additional Information: REG-130751-01 622-3800 and Jeffrey Parry (202) 435- 5265 2614. AMENDING THE LOW–INCOME Drafting attorney: Jeffrey L. Vinnik (202) 622-3840 Reviewing attorney: Elizabeth G. Beck HOUSING TAX CREDIT PROGRAM (202) 435-5265 Priority: Substantive, Nonsignificant Reviewing attorney: David Bowen (202) 622-3800 Treasury attorney: Rocco Femia (202) Legal Authority: 26 USC 42; 26 USC 622-1755 7805 CC:INTL CC:INTL CFR Citation: 26 CFR 1 Agency Contact: Jeffrey L. Vinnik, Attorney–Advisor, Department of the Agency Contact: David Bowen, Legal Deadline: None Treasury, Internal Revenue Service, Attorney–Advisor, Department of the 1111 Constitution Avenue NW, Treasury, Internal Revenue Service, Abstract: These regulations are Washington, DC 20224 1111 Constitution Avenue NW, amendments to the general public use Phone: 202 622–3840 Washington, DC 20224 requirements in the low-income Phone: 202 435–5265 housing tax credit program. RIN: 1545–BB56 RIN: 1545–BB26 Timetable: Action Date FR Cite 2616. LOSS LIMITATION RULES— GENERAL UTILITIES REPEAL 2613. APPLICATION OF SEPARATE NPRM 12/00/04 LIMITATIONS TO DIVIDENDS FROM Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant NONCONTROLLED SECTION 902 Required: No Legal Authority: 26 USC 337(d); 26 CORPORATION Small Entities Affected: No USC 7805; 26 USC 1502 Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Legal Authority: 26 USC 7805; 26 USC Government Levels Affected: None Legal Deadline: 904(d)(6) Additional Information: REG-151145-02 None Abstract: CFR Citation: 26 CFR 1 Drafting attorney: Jack Malgeri (202) The regulations will provide 622-3040 guidance to corporations that are Legal Deadline: None members of an affiliated group filing Abstract: The Taxpayer Relief Act of Reviewing attorney: Harold Burghart a consolidated income tax return and 1997 amended the foreign tax credit (202) 622-3040 that own stock of a subsidiary member limitation rules under section 904(d) CC:PSI of the group. The regulations will and extended lookthrough treatment to prevent rules relating to certain dividends paid by a 10/50 lookthrough Agency Contact: Jack Malgeri, adjustments to the basis of subsidiary corporation, effective for earnings and Attorney–Advisor, Department of the member stock from having the effect of profits accumulated in tax years Treasury, Internal Revenue Service, offsetting certain income and gain upon beginning after December 31, 2002. 1111 Constitution Avenue NW, a disposition of the stock by the These regulations would provide Washington, DC 20224 consolidated group. Phone: 202 622–3040 guidance needed to comply with these Timetable: changes, including transition rules for RIN: 1545–BB37 dividends paid by a 10/50 lookthrough Action Date FR Cite corporation. 2615. SUBSTITUTE DIVIDEND NPRM 12/00/04 Timetable: PAYMENTS IN SECURITIES LENDING Regulatory Flexibility Analysis Action Date FR Cite AND SIMILAR TRANSACTIONS Required: No NPRM 12/00/04 Priority: Substantive, Nonsignificant Small Entities Affected: No Regulatory Flexibility Analysis Legal Authority: 26 USC 7805; 26 USC Government Levels Affected: Required: Undetermined 7701; 26 USC 863 Undetermined

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TREAS—IRS Proposed Rule Stage

Federalism: Undetermined 2618. CONTRIBUTIONS TO disregarded in valuing an interest PURCHASE CERTAIN RETIREMENT under section 2704 of the Internal Additional Information: REG-157711-02 ANNUITIES OR CUSTODIAL Revenue Code. Drafting attorney: Martin Huck (202) ACCOUNTS UNDER SECTION 403(B) Timetable: 622-7750 Priority: Substantive, Nonsignificant Action Date FR Cite Legal Authority: Reviewing attorney: Theresa Abell (202) 26 USC 403(b); 26 NPRM 12/00/04 622-7700 USC 7805 Regulatory Flexibility Analysis CFR Citation: 26 CFR 1 CC:COR Required: No Legal Deadline: None Small Entities Affected: No Agency Contact: Martin T. Huck, Abstract: This regulation would revise Attorney–Advisor, Department of the Government Levels Affected: None and update the current section 403(b) Treasury, Internal Revenue Service, regulations to reflect the numerous Additional Information: REG-163113-02 1111 Constitution Avenue NW, statutory revisions to this section of the Washington, DC 20224 Drafting attorney: John MacEachen Internal Revenue Code since these Phone: 202 622–7750 (202) 622-3253 regulations were first promulgated in Reviewing attorney: George Masnik RIN: 1545–BB61 1964. Section 403(b) concerns the income tax exclusion for contributions (202) 622-3090 to purchase certain retirement annuities Treasury attorney: Catherine Hughes 2617. SAFE HARBOR LEASING or custodial accounts made for their (202) 622-9407 SECOND INTEREST CAPITALIZATION employees by certain tax-exempt CC:PSI Priority: Substantive, Nonsignificant employers or State-sponsored educational institutions. Agency Contact: John MacEachen, Legal Authority: 26 USC 263A(f) Attorney–Advisor, Department of the Timetable: Treasury, Internal Revenue Service, CFR Citation: 26 CFR 1 Action Date FR Cite 1111 Constitution Avenue NW, Washington, DC 20224 NPRM 12/00/04 Legal Deadline: None Phone: 202 622–7830 Regulatory Flexibility Analysis Abstract: RIN: 1545–BB71 This regulation clarifies Required: No treatment under Internal Revenue Code section 263A(f) of interest expense Small Entities Affected: Governmental Jurisdictions 2620. REMIC RESIDUALS—TIMING OF incurred in connection with safe harbor INCOME FOR FOREIGN HOLDERS leases under former Internal Revenue Government Levels Affected: Local, Code section 168(f)(8). State, Tribal Priority: Substantive, Nonsignificant Timetable: Additional Information: REG-155608-02 Legal Authority: 26 USC 860G(b); 26 USC 7805 Action Date FR Cite Drafting attorney: John A. Tolleris (202) 622-6060 CFR Citation: 26 CFR 1 NPRM 07/00/05 Reviewing attorney: Cheryl Press (202) Legal Deadline: None Regulatory Flexibility Analysis 622-6060 Abstract: These regulations under 26 Required: No Treasury attorney: William Bortz (202) U.S.C. 860G(b) accelerate the recognition of income associated with Small Entities Affected: No 622-1352 a REMIC resident interest that is CC:TEGE Government Levels Affected: None allocation to foreign person, including Agency Contact: John A. Tolleris, a foreign partner in a U.S. partnership. Additional Information: REG-148399-02 Attorney, Department of the Treasury, Timetable: Internal Revenue Service, 1111 Drafting attorney: Grant D. Anderson Action Date FR Cite (202) 622-4930 Constitution Avenue NW, Washington, DC 20224 NPRM 12/00/04 Reviewing attorney: Donna Crisalli Phone: 202 622–6060 Regulatory Flexibility Analysis (202) 622-4800 RIN: 1545–BB64 Required: Undetermined CC:ITA Government Levels Affected: 2619. LIQUIDATION OF AN INTEREST Undetermined Agency Contact: Grant D. Anderson, Attorney–Advisor, Department of the Priority: Substantive, Nonsignificant Federalism: Undetermined Treasury, Internal Revenue Service, Legal Authority: 26 USC 2704(b) Additional Information: REG-159929-02 1111 Constitution Avenue NW, Washington, DC 20224 CFR Citation: 26 CFR 25 Drafting attorney: Arturo Estrada (202) Phone: 202 622–4930 Legal Deadline: None 622-3900 CC:FI Related RIN: Related to 1545–BB63 Abstract: This regulation relates to additional rules for determining when Agency Contact: Arturo Estrada, RIN: 1545–BB62 restrictions on liquidation are Attorney–Advisor, Department of the

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TREAS—IRS Proposed Rule Stage

Treasury, Internal Revenue Service, U.S.C. 21 relating to dependent care securities to which this approach 1111 Constitution Avenue NW, credits. applies; (2) the taxpayers who may Washington, DC 20224 Timetable: elect this approach; (3) the election into Phone: 202 622–3900 the approach; (4) the applicable Action Date FR Cite RIN: 1545–BB84 financial statements to be used; (5) the NPRM 12/00/04 recordkeeping, retention, and availability requirements for Regulatory Flexibility Analysis 2621. PREDECESSORS OR verification of financial statement-tax Required: SUCCESSORS UNDER SECTION No conformity; and (6) what approach will 355(E) Small Entities Affected: No apply if the election for financial Priority: Substantive, Nonsignificant Government Levels Affected: None statement-tax conformity is not made. A notice of proposed rulemaking is Unfunded Mandates: Undetermined Additional Information: REG-139059-02 being drafted currently based upon Legal Authority: 26 USC 355; 26 USC Drafting attorney: Warren M. Joseph comments received from the ANPRM. 7805 (202) 622-4920 Timetable: CFR Citation: 26 CFR 1 Reviewing attorney: Robert Berkovsky Action Date FR Cite (202) 622-4920 Legal Deadline: None NPRM 12/00/04 CC:ITA Abstract: These regulations under Regulatory Flexibility Analysis section 355(e) set forth whether a Agency Contact: Warren M. Joseph, Required: Undetermined transferor to or a transferee of Attorney–Advisor, Department of the distributing or controlled assets is a Treasury, Internal Revenue Service, Government Levels Affected: None predecessor or successor. 1111 Constitution Avenue NW, Additional Information: REG-100420-03 Washington, DC 20224 Timetable: Drafting attorney: Marsha A. Sabin Phone: 202 622–4920 Action Date FR Cite (202) 622-3950 or John W. Rogers (202) RIN: 1545–BB86 622-3950 NPRM 12/00/04 Reviewing attorney: Robert Williams Regulatory Flexibility Analysis 2623. GUIDANCE REGARDING (202) 622-3960 Required: No MARK–TO–MARKET VALUATION FOR Treasury attorneys: Michael Novey Small Entities Affected: No CERTAIN SECURITIES (202) 622-1339 and Viva Hammer (202) Government Levels Affected: None Priority: Substantive, Nonsignificant 622-0869 Additional Information: REG-145535-02 Legal Authority: 26 USC 7805; 26 USC CC:FI Drafting attorney: Krishna P. 475; 26 USC 446 Agency Contact: Marsha A. Sabin, Vallabhaneni (202) 622-7550 CFR Citation: 26 CFR 1 Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Reviewing attorney: Stephen P. Fattman Legal Deadline: None (202) 622-7700 1111 Constitution Avenue NW, Abstract: Section 475(a) requires that Washington, DC 20224 Treasury attorney: Audrey Nacamuli dealers in securities mark their Phone: 202 622–3950 (202) 622-5721 securities to market. If the security is RIN: 1545–BB90 CC:COR inventory, the dealer must include that security at fair market value. Taxpayers Agency Contact: Krishna P. must treat any securities that are not 2624. PARTNERSHIP EQUITY FOR Vallabhaneni, Attorney–Advisor, inventory as if they were sold for its SERVICES Department of the Treasury, Internal fair market value on the last business Priority: Substantive, Nonsignificant Revenue Service, 1111 Constitution day of the year. While the legal Avenue NW, Washington, DC 20224 definition of the term ‘‘fair market Unfunded Mandates: Undetermined Phone: 202 622–7550 value’’ has long been settled, the statute Legal Authority: 26 USC 721; 26 USC RIN: 1545–BB85 is silent as to what valuation 83 methodology should be used to determine fair market value of any CFR Citation: 26 CFR 1 2622. DEPENDENT CARE CREDIT particular security. Many of the Legal Deadline: None Priority: Substantive, Nonsignificant securities subject to section 475 raise Abstract: These proposed regulations Unfunded Mandates: Undetermined difficult valuation issues. An advanced will describe the tax treatment of notice of proposed rulemaking Legal Authority: 26 USC 21; 26 USC partnership equity issued in connection (ANPRM) was issued on May 5, 2003, with the performance of services. 7805 and asked for comments on a possible Timetable: CFR Citation: 26 CFR 1 financial statement-tax conformity safe harbor approach for valuing certain Action Date FR Cite Legal Deadline: None securities under section 475 for which Abstract: The notice of proposed the determination of actual fair market NPRM 12/00/04 rulemaking will amend existing but value is administratively difficult. The Regulatory Flexibility Analysis partially obsolete regulations under 26 ANPRM asked for comments on: (1) the Required: No

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TREAS—IRS Proposed Rule Stage

Small Entities Affected: No 1111 Constitution Avenue NW, Timetable: Government Levels Affected: None Washington, DC 20224 Action Date FR Cite Phone: 202 622–8012 Additional Information: REG-105346-03 NPRM 12/00/04 RIN: 1545–BB93 Drafting attorneys: Demetri Yatrakis Regulatory Flexibility Analysis (202) 622-3060 Required: No 2626. ACCRUAL FOR CERTAIN REMIC Reviewing attorney: Audrey Ellis (202) Small Entities Affected: No REGULAR INTERESTS 622-3060 Government Levels Affected: None Priority: Substantive, Nonsignificant Treasury attorney: Deborah Harrington Additional Information: REG-150088-02 (202) 622-1788 Unfunded Mandates: Undetermined Drafting attorney: Laurence K. Williams CC:PSI Legal Authority: 26 USC 7805 (202) 622-3600 Agency Contact: Demetri G. Yatrakis, CFR Citation: 26 CFR 1 Reviewing attorney: Alan Levine (202) Attorney–Advisor, Department of the 622-3600 Treasury, Internal Revenue Service, Legal Deadline: None CC:PA:CBS 1111 Constitution Avenue NW, Abstract: The proposed regulations Washington, DC 20224 provide guidance on the accrual of Agency Contact: Laurence K. Williams, Phone: 202 622–3060 original issue discount on certain attorney, Department of the Treasury, REMIC regular interests. Internal Revenue Service, 1111 Audrey W. Ellis, Attorney–Advisor, Constitution Avenue NW., Washington, Department of the Treasury, Internal Timetable: DC 20024 Revenue Service, 1111 Constitution Action Date FR Cite Phone: 202 622–3600 Avenue NW, Washington, DC 20224 RIN: 1545–BB96 Phone: 202 622–3060 NPRM 12/00/04 RIN: 1545–BB92 Regulatory Flexibility Analysis Required: No 2628. MISCELLANEOUS CHANGES TO COLLECTION DUE PROCESS 2625. DETERMINATION OF Small Entities Affected: No PROCEDURES RELATING TO SINGLE–SUM DISTRIBUTIONS FROM Government Levels Affected: None HEARINGS BEFORE LEVY CASH BALANCE PLANS Additional Information: REG-108637-03 Priority: Routine and Frequent Priority: Substantive, Nonsignificant Legal Authority: Drafting attorney: Rebecca E. Asta (202) 26 USC 6330 Unfunded Mandates: Undetermined 622-3930 CFR Citation: 26 CFR 301 Legal Authority: 26 USC 7805 Reviewing attorney: Patrick White (202) Legal Deadline: None CFR Citation: 26 CFR 1 622-3920 Abstract: The IRS is revising the Legal Deadline: None CC:FI regulations that apply to Collection Due Process (CDP) and equivalent hearings Abstract: These regulations will modify Agency Contact: Rebecca E. Asta, under section 6330 involving Federal the rules for the determination of Attorney–Advisor, Department of the tax levies. minimum single-sum distributions from Treasury, Internal Revenue Service, Timetable: cash balance pension plans. 1111 Constitution Avenue NW, Timetable: Washington, DC 20224 Action Date FR Cite Phone: 202 622–3930 Action Date FR Cite NPRM 12/00/04 RIN: 1545–BB94 NPRM 06/00/05 Regulatory Flexibility Analysis Required: No Regulatory Flexibility Analysis Required: No 2627. MISCELLANEOUS CHANGES TO Small Entities Affected: No COLLECTION DUE PROCESS Government Levels Affected: None Small Entities Affected: Organizations PROCEDURES RELATING TO NOTICE Additional Information: REG-150091-02 Government Levels Affected: None AND OPPORTUNITY FOR HEARING UPON FILING OF NOTICE OF LIEN Drafting attorney: Laurence K. Williams Additional Information: REG-168897-02 (202) 622-3600 Drafting attorney: Linda S.F. Marshall Priority: Routine and Frequent Reviewing attorney: Alan Levine (202) (202) 622-6090 Legal Authority: 26 USC 6320; 26 USC 622-3610 6330 Reviewing attorney: Marjorie Hoffman CC:PA:CBS (202) 622-6030 CFR Citation: 26 CFR 301 Agency Contact: Laurence K. Williams, Treasury attorney: William Bortz (202) Legal Deadline: None attorney, Department of the Treasury, 622-1352 Abstract: The IRS is revising the Internal Revenue Service, 1111 CC:TEGE regulations that apply to Collection Due Constitution Avenue NW., Washington, Agency Contact: Linda Marshall, Process (CDP) and equivalent hearings DC 20024 Senior Counsel, Department of the under section 6320 involving Federal Phone: 202 622–3600 Treasury, Internal Revenue Service, tax liens. RIN: 1545–BB97

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TREAS—IRS Proposed Rule Stage

2629. GENERAL ALLOCATION AND Government Levels Affected: None Regulatory Flexibility Analysis ACCOUNTING REGULATIONS Additional Information: REG-128274-03 Required: No Priority: Substantive, Nonsignificant Drafting attorney: David Selig (202) Small Entities Affected: No Unfunded Mandates: Undetermined 622-3040 Government Levels Affected: None Legal Authority: 26 USC 7805 Reviewing attorney: Harold Burghart Additional Information: REG-128572-03 (202) 622-3040 CFR Citation: 26 CFR 1 Drafting attorney: Avital Grunhaus Treasury attorney: Bruce Serchuk (202) Legal Deadline: (202) 622-3940 None 622-1766 Reviewing attorney: David Silber (202) Abstract: This regulation provides CC:PSI rules for the allocation of and 622-3930 accounting for bond proceeds for Agency Contact: David Selig, Treasury attorneys: Michael Novey purposes of determining whether bonds Attorney–Advisor, Department of the (202) 622-1339 and Viva Hammer (202) are private activity bonds under section Treasury, Internal Revenue Service, 622-0869 141 of the Internal Revenue Code. 1111 Constitution Avenue NW, Washington, DC 20224 Agency Contact: Avital Grunhaus, Timetable: Phone: 202 622–3040 Attorney–Advisor, Department of the Action Date FR Cite Treasury, Internal Revenue Service, RIN: 1545–BC22 1111 Constitution Avenue NW, NPRM 07/00/05 Washington, DC 20224 Regulatory Flexibility Analysis 2631. GUIDANCE REGARDING Phone: 202 622–3940 Required: Undetermined APPLICATION OF SECTION 265(A)(2) RIN: 1545–BC24 Government Levels Affected: State AND 246A IN TRANSACTIONS INVOLVING RELATED PARTIES, Federalism: Undetermined PASS–THROUGH ENTITIES, OR 2632. GUIDANCE ON PFIC PURGING ELECTIONS Additional Information: REG-140379-02 OTHER INTERMEDIARIES Priority: Substantive, Nonsignificant. Drafting attorney: Michael Brewer (202) Priority: Substantive, Nonsignificant Major status under 5 USC 801 is 622-3980 Unfunded Mandates: Undetermined undetermined. CC:TEGE Legal Authority: 26 USC 7701(f); 26 Unfunded Mandates: Undetermined Agency Contact: Michael P. Brewer, USC 265(a); 26 USC 246A Legal Authority: 26 USC 7805 Attorney–Advisor, Department of the CFR Citation: 26 CFR 1 CFR Citation: 26 CFR 1 Treasury, Internal Revenue Service, Legal Deadline: None 1111 Constitution Avenue NW, Legal Deadline: None Washington, DC 20224 Abstract: Section 7701(f) of the Code Phone: 202 622–3980 provides that the Secretary shall Abstract: These proposed regulations prescribe such regulations as may be will provide guidance regarding RIN: 1545–BC07 necessary or appropriate to prevent the retroactive relief for taxpayers who, in avoidance of the provisions of the Code limited circumstances, continue to be 2630. UTILITY ALLOWANCE that deal with the linking of borrowing subject to the PFIC excess distribution REGULATION UPDATE to investment, or diminishing the risk regime of section 1291 although the through the use of related persons, foreign corporation in which they own Priority: Substantive, Nonsignificant pass-through entities, or other stock is no longer treated as a PFIC Legal Authority: 26 USC 42 intermediaries. Section 7701(f) was under section 1298(b)(1) or section 1297(e). CFR Citation: 26 CFR 1 enacted to authorize the issuance of regulations to prevent the avoidance of Timetable: Legal Deadline: None the purposes of sections 265(a)(2) Action Date FR Cite Abstract: This regulation will modify (which disallows interest on and update utility allowance indebtedness incurred or continued to NPRM 12/00/04 regulations under section 1.142-10, purchase or carry tax-exempt Regulatory Flexibility Analysis obligations) and 246A (which reduces which provides for an alternative Required: No method for computing utility the dividends received deduction under allowances under section 1.142- sections 243, 244, or 245(a)) in Small Entities Affected: No 10(b)(4)(ii). Also, the regulation will proportion to the extent that the Government Levels Affected: None portfolio stock with respect to which provide for annual updates of utility Additional Information: REG-133446-03 allowances. the dividends are received is debt- financed) through transactions Drafting attorney: Alexandra K. Helou Timetable: involving related parties, pass-through (202) 622-3840 Action Date FR Cite entities, or other intermediaries. Reviewing attorney: Valerie A. Mark NPRM 12/00/04 Timetable: Lippe (202) 622-3840 Regulatory Flexibility Analysis Action Date FR Cite Treasury attorney: Carl Dubert (202) Required: No ANPRM 05/07/04 69 FR 25534 622-0222 Small Entities Affected: No NPRM 12/00/04 CC:INTL

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TREAS—IRS Proposed Rule Stage

Agency Contact: Alexandra K. Helou, Phone: 202 622–3800 Abstract: The regulations for section Attorney–Advisor, Department of the RIN: 1545–BC48 7654 (1954 Code) will revise existing Treasury, Internal Revenue Service, regulations for clarification and the 1111 Constitution Avenue NW, 1111 regulations for section 7654 (1986 Constitution Avenue NW, Washington, 2634. STEWARDSHIP EXPENSES Code) will be new. Internal Revenue DC 20224 Priority: Substantive, Nonsignificant. Code (IRC) section 7654 contains the Phone: 202 622–3840 Major status under 5 USC 801 is provisions for cover-over to the U.S. Related RIN: Related to 1545–BD33 undetermined. Possessions. Old section 7654 (1954 Code) continues to be applicable to RIN: 1545–BC37 Legal Authority: 26 USC 7805 Guam and the Commonwealth of the CFR Citation: 26 CFR 1 Northern Mariana Islands (CNMI) 2633. ADDITIONAL GUIDANCE Legal Deadline: None because these two possessions do not REGARDING MARK–TO–MARKET have an effective implementing Abstract: The current regulations under ACCOUNTING FOR TRADERS IN agreement with the United States as section 1.861-8(e)(4), titled SECURITIES AND/OR COMMODITIES, required by the Tax Reform Act of ‘‘Stewardship Expenses Attributable to INCLUDING FOREIGN CURRENCY 1986. Regulations are necessary for Dividends Received,’’ are confusing and INSTRUMENTS consistent and correct application of subject to misuse by taxpayers. In section 7654. For example, cover-over Priority: Substantive, Nonsignificant. conjunction with the proposed services for (Armed Forces) residents of the Major status under 5 USC 801 is regulations under section 482, it is possessions stationed outside the undetermined. proposed to revise these regulations to possessions are not specifically Unfunded Mandates: Undetermined clarify the parameters of stewardship addressed in the 1954 Code, and expenses, thereby demarcating them neither is cover-over for Federal Legal Authority: 26 USC 7805; 26 USC from shareholder activities under 988(a)(1)(B) employees residing in U.S. Possessions. section 482 and supportive expenses Regulations are needed to carry out the CFR Citation: 26 CFR 1 under section 1.861-8T(b)(3). provisions of section 7654 and sections Legal Deadline: None Timetable: 931, 932, and 935. Abstract: This regulation provides Action Date FR Cite Timetable: additional rules relating to the trader NPRM 12/00/04 Action Date FR Cite mark-to-market election: 1) the coordination of income character rules Regulatory Flexibility Analysis NPRM 12/00/04 of the mark-to-market regime with the Required: No Regulatory Flexibility Analysis capital election under section Small Entities Affected: No Required: Undetermined 988(a)(1)(B); 2) the definition of Government Levels Affected: None Government Levels Affected: None commodities for purposes of section 475; and 3) the application of the mark- Additional Information: REG-138603-03 Additional Information: REG-139900-03 to-market rules for traders that trade Drafting attorney: Teresa B. Hughes Drafting attorney: Mae J. Lew (202) 435- both securities and commodities in a (202) 622-3850 5262 single business. Reviewing attorney: Anne O. Devereaux Reviewing attorney: Ricardo A. Cadenas Timetable: (202) 622-3850 (202) 435-5262 Action Date FR Cite Treasury attorney: Rocco Femia (202) Treasury attorney: Carl Dubert (202) 622-1765 NPRM 12/00/04 622-1755 CC:INTL Regulatory Flexibility Analysis CC:INTL Agency Contact: Required: No Agency Contact: Teresa B. Hughes, Mae J. Lew, Attorney–Advisor, Department of the Small Entities Affected: No Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Treasury, Internal Revenue Service, Government Levels Affected: None 1111 Constitution Avenue NW, 1111 Constitution Avenue NW, Additional Information: REG-135660-03 Washington, DC 20224 Washington, DC 20224 Phone: 202 435–5262 Drafting attorney: Camille B. Evans Phone: 202 622–3850 Related RIN: Related to 1545–BD32 (202) 622-3800 RIN: 1545–BC52 RIN: Reviewing attorney: Paul S. Epstein 1545–BC54 (202) 622-3870 2635. COORDINATION OF UNITED Treasury attorney: Andrew Froberg STATES AND CERTAIN 2636. GUIDANCE UNDER SECTION (202) 622-1779 POSSESSIONS INCOME TAXES 2053 REGARDING POST–DEATH EVENTS CC:INTL Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant. Unfunded Mandates: Undetermined Agency Contact: Camille B. Evans, Major status under 5 USC 801 is Attorney–Advisor, Department of the Legal Authority: 26 USC 7805 undetermined. Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, CFR Citation: 26 CFR 1; 26 CFR 301 Unfunded Mandates: Undetermined Washington, DC 20224 Legal Deadline: None Legal Authority: 26 USC 7805

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TREAS—IRS Proposed Rule Stage

CFR Citation: 26 CFR 20 Additional Information: REG-149519-03 revised regulations will discuss the Legal Deadline: None Drafting attorney: James M. Gergurich continued validity of extension (202) 622-3070 agreements executed prior to January 1, Abstract: These regulations relate to 2000. the amount deductible under section Reviewing attorney: Christine Ellison Timetable: 2053(a)(3) of the Internal Revenue (202) 622-3080 Code. The regulations will affect estates Treasury attorney: Stephanie Robinson Action Date FR Cite of decedents where claims exist against (202) 622-7858 NPRM 12/00/04 the decedent’s estate. CC:PSI Regulatory Flexibility Analysis Timetable: Agency Contact: James M. Gergurich, Required: No Action Date FR Cite Attorney–Advisor, Department of the Small Entities Affected: No NPRM 12/00/04 Treasury, Internal Revenue Service, Government Levels Affected: None 1111 Constitution Avenue NW, Regulatory Flexibility Analysis Washington, DC 20224 Additional Information: REG-148701-03 Required: No Phone: 202 622–3070 Drafting attorney: Debra Kohn (202) Small Entities Affected: No RIN: 1545–BC63 622-3620 Government Levels Affected: Reviewing attorney: Fredrick W. Undetermined Schindler (202) 622-3600 2638. COLLECTION AFTER Federalism: Undetermined ASSESSMENT Treasury attorney: Julian Kim (202) 622-1981 Additional Information: REG-143316-03 Priority: Substantive, Nonsignificant. CC:PA:CBS Drafting attorney: DeAnn K. Malone Major status under 5 USC 801 is (202) 622-3112 undetermined. Agency Contact: Debra Kohn, Attorney, Department of the Treasury, Reviewing attorney: Melissa Liquerman Unfunded Mandates: Undetermined Internal Revenue Service, 1111 (202) 622-7830 Legal Authority: 26 USC 7805; 26 USC Constitution Avenue NW, Washington, Treasury attorney: Cathy Hughes (202) 6502 DC 20024 622-9407 CFR Citation: 26 CFR 1 Phone: 202 622–3620 CC:PSI Legal Deadline: None RIN: 1545–BC72 Agency Contact: DeAnn K. Malone, Abstract: The Internal Revenue Service Attorney–Advisor, Department of the Restructuring and Reform Act of 1998 2639. BELOW–MARKET LOANS Treasury, Internal Revenue Service, (RRA ‘98) section 3461 amended Priority: Substantive, Nonsignificant. 1111 Constitution Avenue NW, section 6502 of the Code to limit the Major status under 5 USC 801 is Washington, DC 20224 ability of the Service to enter into undetermined. Phone: 202 622–3112 agreements extending the collection Unfunded Mandates: Undetermined RIN: 1545–BC56 statute. RRA ‘98 also included an off- Code ‘‘sunset’’ provision governing the Legal Authority: 26 USC 7805; 26 USC continued effect of collection statute 7872(h) 2637. GUIDANCE UNDER SECTION extension agreements executed prior to CFR Citation: 26 CFR 1 707 REGARDING DISGUISED SALES January 1, 2000, the effective date of Legal Deadline: None Priority: Substantive, Nonsignificant. this section. The current regulations Major status under 5 USC 801 is under section 6502 have not been Abstract: The proposed regulations undetermined. updated to reflect these changes to the related to the Federal income tax section. The current regulations provide consequences of certain below-market Unfunded Mandates: Undetermined that extension agreements may be loans. Legal Authority: 26 USC 707; 26 USC executed anytime prior to the Timetable: 7805 expiration of the original statutory Action Date FR Cite CFR Citation: 26 CFR 1 collection period. NPRM 12/00/04 Legal Deadline: None The revised regulations will incorporate the changes imposed by RRA ‘98 and Regulatory Flexibility Analysis Abstract: This regulation will provide will provide in part that the only two Required: No guidance regarding disguised sales of circumstances under which an Small Entities Affected: No partnership interests. agreement extending the collecting Timetable: period may be executed are: (1) when Government Levels Affected: None Action Date FR Cite the extension agreement is executed in Additional Information: REG-209226-84 connection with an Installment Drafting attorney: Rebecca E. Asta (202) NPRM 12/00/04 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 6343, when the release occurs after the 622-3930 Small Entities Affected: No expiration of the original 10-year Treasury attorney: Viva Hammer (202) Government Levels Affected: None statutory collection period. Also, the 622-0869

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TREAS—IRS Proposed Rule Stage

CC:FI 2641. DEFINITION OF LOSS FOR Government Levels Affected: None PURPOSES OF THE STRADDLE Federalism: Undetermined Agency Contact: Rebecca E. Asta, RULES Attorney–Advisor, Department of the Additional Information: REG-159243-03 Priority: Substantive, Nonsignificant. Treasury, Internal Revenue Service, Major status under 5 USC 801 is Drafting attorney: J. David Varley (202) 1111 Constitution Avenue NW, undetermined. 435-5265 Washington, DC 20224 Phone: 202 622–3930 Legal Authority: 26 USC 7805; 26 USC Reviewing attorney: W. Edward 1092 Williams (202) 622-3830 RIN: 1545–BC78 CFR Citation: 26 CFR 1 Treasury attorney: Carl Dubert (202) 622-0222 Legal Deadline: None 2640. INFORMATION REPORTING Abstract: This regulation expands the CC:INTL RELATING TO TAXABLE STOCK definition of the term ‘‘loss’’ for Agency Contact: J. David Varley, TRANSACTIONS purposes of sections 1092 and 263(g) Attorney–Advisor, Department of the Priority: Substantive, Nonsignificant. to include otherwise deductible Treasury, Internal Revenue Service, Major status under 5 USC 801 is payments or accruals determined with 1111 Constitution Ave., N.W., undetermined. respect to changes in the capital value Washington, DC 20224 of offsetting positions in a straddle that Phone: 202 435–5265 Legal Authority: 26 USC 6043; 26 USC lacks a capital investment.‘‘ 6045 Timetable: W. Edward Williams, Special Counsel, Department of the Treasury, Internal CFR Citation: 26 CFR 1 Action Date FR Cite Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 Legal Deadline: NPRM 12/00/04 None Phone: 202 622–3830 Regulatory Flexibility Analysis Abstract: These proposed regulations Required: No RIN: 1545–BC86 under sections 6043 and 6045 require information reporting by corporations Small Entities Affected: No and brokers with respect to corporate Government Levels Affected: None 2643. TRANSACTIONS INVOLVING THE TRANSFER OF NO NET EQUITY acquisitions of control and substantial Additional Information: REG-159869-03 changes in capital structure. The notice VALUE of proposed rulemaking cross- Drafting attorney: Mary Brewer (202) Priority: Substantive, Nonsignificant 622-3950 references temporary regulations and Unfunded Mandates: Undetermined also withdraws previous proposed rules Reviewing attorney: Christina Morrison (67 FR 69496; RIN 1545-BB60). (202) 622-3950 Legal Authority: 26 USC 7805; 26 USC 351 Timetable: CC:FI CFR Citation: 26 CFR 1 Agency Contact: Action Date FR Cite Mary Brewer, Attorney–Advisor, Department of the Legal Deadline: None NPRM 12/00/04 Treasury, Internal Revenue Service, Abstract: These regulations will 1111 Constitution Avenue NW, Regulatory Flexibility Analysis provide guidance regarding the Washington, DC 20224 application of sections 332, 351, and Required: No Phone: 202 622–3950 368 in certain transactions involving Small Entities Affected: No RIN: 1545–BC83 insolvent corporations. Timetable: Government Levels Affected: None 2642. DETERMINATION OF Action Date FR Cite Additional Information: REG-156232-03 RESIDENCY IN U.S. POSSESSIONS NPRM 12/00/04 Priority: Substantive, Nonsignificant Drafting attorney: Nancy L. Rose (202) Regulatory Flexibility Analysis 622-4910 Legal Authority: Not Yet Determined Required: Undetermined CC:PA:APJ CFR Citation: 26 CFR 1 Government Levels Affected: None Legal Deadline: None Additional Information: REG-163314-03 Agency Contact: Nancy L. Rose, Attorney–Advisor, Department of the Abstract: This regulation will address Drafting attorney: Jean R. Brenner (202) Treasury, Internal Revenue Service, the determination of residency in U.S. 622-7790 possessions. 1111 Constitution Avenue NW, Reviewing attorneys: Victor L. Penico Washington, DC 20224 Timetable: and Lisa Fuller (202) 622-7750 Phone: 202 622–4910 Action Date FR Cite Treasury attorney: Audrey Nacamuli Related RIN: Related to 1545–BB40, NPRM 12/00/04 (202) 622-5721 Related to 1545–BB60, Related to Regulatory Flexibility Analysis CC:COR 1545–BC79 Required: No Agency Contact: Jean R. Brenner, RIN: 1545–BC80 Small Entities Affected: No Attorney–Advisor, Department of the

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TREAS—IRS Proposed Rule Stage

Treasury, Internal Revenue Service, connection with procurement of Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, property and services for tax 1111 Constitution Avenue NW, Washington, DC 20224 administration purposes. Washington, DC 20224 Phone: 202 622–7790 Timetable: Phone: 202 622–4580 RIN: 1545–BC88 Action Date FR Cite RIN: 1545–BC93 NPRM 12/00/04 2644. PAYMENTS IN THE NATURE OF 2647. GUIDANCE REGARDING THE WORKERS COMPENSATION Regulatory Flexibility Analysis ACTIVE TRADE OR BUSINESS Required: No REQUIREMENT UNDER SECTION Priority: Substantive, Nonsignificant Small Entities Affected: No 355(B) Legal Authority: 26 USC 7805 Government Levels Affected: Federal, Priority: Substantive, Nonsignificant. CFR Citation: 26 CFR 1 State Major status under 5 USC 801 is Legal Deadline: None Additional Information: REG-148867-03 undetermined. Abstract: The proposed rulemaking Drafting attorney: Helene R. Newsome Legal Authority: 26 USC 7805 will exclude payments made pursuant (202) 622-4570 CFR Citation: 26 CFR 1 to statutes in the nature of workers’ Reviewing attorney: Gerald R. Ryan Legal Deadline: None compensation law from the definition (202) 622-4570 of wages as defined in I.R.C. 3121(a). Abstract: The proposed rulemaking Treasury attorney: Eric San Juan (202) Timetable: will provide guidance regarding the 622-0224 active trade or business requirement Action Date FR Cite CC:PA:DPL under section 355(b). NPRM 12/00/04 Agency Contact: Helene R. Newsome, Timetable: Regulatory Flexibility Analysis Attorney–Advisor, Department of the Action Date FR Cite Required: No Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, NPRM 12/00/04 Small Entities Affected: No Washington, DC 20224 Regulatory Flexibility Analysis Government Levels Affected: Local, Phone: 202 622–4570 Required: No State RIN: 1545–BC92 Small Entities Affected: No Additional Information: REG-160315-03 Government Levels Affected: None Drafting attorney: David R. Ford (202) 2646. REVISION OF SECTION Additional Information: REG-123365-03 622-6040 301.6103(J)–1 FOR DISCLOSURE TO Drafting attorney: Russell P. Subin Reviewing attorney: Marie Cashman THE BUREAU OF ECONOMIC (202) 622-7790 (202) 622-6040 ANALYSIS, DEPARTMENT OF COMMERCE Reviewing attorney: Richard Coss (202) Treasury attorney: Kevin Knopf (202) 622-7790 622-2329 Priority: Substantive, Nonsignificant CC:COR CC:TEGE Legal Authority: 26 USC 6103 Agency Contact: Russell P. Subin, Agency Contact: CFR Citation: 26 CFR 1 David R. Ford, Attorney–Advisor, Department of the Attorney–Advisor, Department of the Legal Deadline: None Treasury, Internal Revenue Service, Treasury, Internal Revenue Service, Abstract: This regulation concerns the 1111 Constitution Avenue NW, 1111 Constitution Avenue NW, disclosure of corporate tax information Washington, DC 20224 Washington, DC 20224 to the Bureau of Economic Analysis, Phone: 202 622–7790 Phone: 202 622–6040 Department of Commerce. RIN: 1545–BC94 RIN: 1545–BC89 Timetable: Action Date FR Cite 2648. ACCUMULATED ADJUSTMENT 2645. DISCLOSURES TO NPRM 12/00/04 ACCOUNT AND OTHER CORPORATE SUBCONTRACTORS SEPARATIONS UNDER SECTION 355 Priority: Substantive, Nonsignificant. Regulatory Flexibility Analysis Required: No Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is Major status under 5 USC 801 is undetermined. Small Entities Affected: No undetermined. Unfunded Mandates: Undetermined Government Levels Affected: None Legal Authority: 26 USC 7805 Legal Authority: 26 USC 6103 Additional Information: REG-148864-03 CFR Citation: 26 CFR 1 CFR Citation: 26 CFR 301 Drafting attorney: Joseph E. Conley Legal Deadline: None (202) 622-4580 Legal Deadline: None Abstract: These proposed regulation Abstract: Proposed rule to amend CC:PA:DPL will amend the current regulations existing regulations on disclosure of Agency Contact: Joseph E. Conley, under section 1.368-2 in order to returns and return information in Attorney–Advisor, Department of the address the proper treatment of an S

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TREAS—IRS Proposed Rule Stage

corporations accumulated adjustment Agency Contact: Ann H. Logan, Abstract: This proposed regulation account in a section 355 transaction not Attorney–Advisor, Department of the provides additional guidance with preceded by a section 368(a)(1)(D) Treasury, Internal Revenue Service, respect to dual consolidated losses reorganization. 1111 Constitution Avenue NW, under section 1503(d). Timetable: Washington, DC 20224 Timetable: Phone: 202 622–3970 Action Date FR Cite Action Date FR Cite RIN: 1545–BD00 NPRM 08/00/05 NPRM 12/00/04 Regulatory Flexibility Analysis 2650. SUPPORT TEST IN THE CASE Regulatory Flexibility Analysis Required: No OF A CHILD OF DIVORCED PARENTS Required: No Small Entities Affected: No Priority: Substantive, Nonsignificant Small Entities Affected: Businesses Government Levels Affected: None Unfunded Mandates: Undetermined Government Levels Affected: None Additional Information: REG-168722-03 Legal Authority: 26 USC 152 Additional Information: REG-102144-04 Drafting attorney: Christopher L. Trump CFR Citation: 26 CFR 1 Drafting attorney: Kathryn T. Holman (202) 622-3070 (202) 622-3860 Legal Deadline: None Reviewing attorney: James Quinn (202) Reviewing attorney: Michael H. Frankel 622-3070 Abstract: These proposed regulations (202) 622-3860 will amend section 1.152-4 to delete CC:PSI obsolete provisions, update other Treasury attorney: Carl Dubert (202) Agency Contact: Christopher L. provisions, and clarify the definition of 622-0222 Trump, Attorney–Advisor, Department ‘‘custody.’’ It will incorporate the CC:INTL of the Treasury, Internal Revenue guidance provided in section 1.152-4T Agency Contact: Kathryn T. Holman, Service, 1111 Constitution Avenue NW, and provide additional guidance on the Attorney–Advisor, Department of the Washington, DC 20224 release of a custodial parent’s claim to Treasury, Internal Revenue Service, Phone: 202 622–3080 exemption. 1111 Constitution Avenue NW, RIN: 1545–BC98 Timetable: Washington, DC 20224 Action Date FR Cite Phone: 202 622–3860 2649. ATTAINED AGE OF THE NPRM 12/00/04 RIN: 1545–BD10 INSURED Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant. Required: No 2652. CURRENT LIABILITY INTEREST Major status under 5 USC 801 is RATE UNDER SECTION 412(B)(5) undetermined. Government Levels Affected: Undetermined Priority: Substantive, Nonsignificant Legal Authority: 26 USC 7805 Additional Information: REG-149856-03 Legal Authority: 26 USC 7805; 26 USC CFR Citation: 26 CFR 1 412(b)(5) Drafting attorney: Victoria J. Driscoll Legal Deadline: None (202) 622-4920 CFR Citation: 26 CFR 1 Abstract: The proposed regulations Reviewing attorney: Robert A. Legal Deadline: None define the age of the insured to be used Berkovsky (202) 622-4920 Abstract: by the insurance companies for the These proposed regulations cash value corridor and maturity date Treasury attorney: Eric San Juan (202) will provide rules regarding the current assumption required to determine if a 622-0224 liability interest rate under section contract insuring more than one life CC:ITA 412(b)(5). qualifies as a life insurance contract for Agency Contact: Victoria J. Driscoll, Timetable: Federal income tax purposes. Attorney–Advisor, Department of the Action Date FR Cite Timetable: Treasury, Internal Revenue Service, NPRM 12/00/04 Action Date FR Cite 1111 Constitution Avenue NW, Washington, DC 20224 Regulatory Flexibility Analysis NPRM 11/00/04 Phone: 202 622–4920 Required: No Regulatory Flexibility Analysis Fax: 2026226853 Small Entities Affected: No Required: No RIN: 1545–BD01 Government Levels Affected: None Small Entities Affected: No Additional Information: REG-105966-04 Government Levels Affected: None 2651. DUAL CONSOLIDATED LOSS Drafting attorney: Linda S.F. Marshall Additional Information: REG-168892-03 REGULATIONS (202) 622-6090 Drafting attorney: Ann H. Logan (202) Priority: Substantive, Nonsignificant Treasury attorney: Harlan Weller (202) 622-3970 Legal Authority: 26 USC 7805; 26 USC 622-1001 Reviewing attorney: Donald Drees (202) 1503 CC:TEGE 622-3970 CFR Citation: 26 CFR 1 Agency Contact: Linda Marshall, CC:FI Legal Deadline: None Senior Counsel, Department of the

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TREAS—IRS Proposed Rule Stage

Treasury, Internal Revenue Service, Treasury, Internal Revenue Service, interest in a Real Estate Mortgage 1111 Constitution Avenue NW, 1111 Constitution Avenue NW, Investment Conduit (REMIC). Under Washington, DC 20224 Washington, DC 20224 section 860B(a) of the Internal Revenue Phone: 202 622–8012 Phone: 202 622–3880 Code, an interest only regular interest RIN: 1545–BD13 RIN: 1545–BD15 in a REMIC (REMIC IO) is treated as a debt instrument. However, unlike traditional debt instruments, the 2653. DEFINITION OF QUALIFIED 2654. MOVE AND UPDATE THE amount received by a holder of a FOREIGN CORPORATION ESTIMATED TAX REGULATIONS REMIC IO may not exceed the holder’s Priority: Substantive, Nonsignificant Priority: Info./Admin./Other initial investment. As a result, REMIC IOs have presented difficult and novel Legal Authority: 26 USC 7805(a); 26 Legal Authority: 26 USC 6654 USC 1 questions in the application of the rules CFR Citation: 26 CFR 1 for original issue discount, market CFR Citation: Not Yet Determined discount, and premium. The IRS and Legal Deadline: None Legal Deadline: None Treasury Department are therefore Abstract: Notice 2003-79, section 5, Abstract: The proposed regulation will considering whether to prescribe published on November 28, 2003, states move and update the estimated tax regulations under the authority of that the IRS intends to issue regulations from Treasury Regulation section 1275(d), and the other regulations, for years after 2003, that sections 1.6015(a)-(j) and 301.6015 to regulatory authority, with respect to the provide procedures for a foreign the section 6654 regulations. tax treatment of REMIC IOs for both corporation to certify that it is a Timetable: initial purchasers and secondary market purchasers. qualified foreign corporation for Action Date FR Cite purposes of IRC section 1(h)(11)(C). The Timetable: regulations will also provide NPRM 11/00/04 Action Date FR Cite procedures for certifying that a security Regulatory Flexibility Analysis that is not a common or ordinary share Required: No ANPRM 08/25/04 69 FR 52212 is equity rather than debt; that a foreign NPRM 12/00/04 Small Entities Affected: No company is entitled to benefits under Regulatory Flexibility Analysis a comprehensive income tax treaty Government Levels Affected: None Required: No where a security is not readily tradable Additional Information: REG-147157-03 on a recognized U.S. stock exchange; Small Entities Affected: No and that the foreign corporation is not Drafting attorney: Tonya L. Government Levels Affected: None a FPHC, FIC, or PFIC in the taxable Christianson (202) 622-4910 Additional Information: REG-106679-04 year in which a dividend is paid, or Reviewing attorney: Tiffany Smith (202) in the preceding taxable year. The 622-4910 Drafting attorney: Kathleen Sleeth (202) regulations are also expected to address 622-3920 the meaning of the requirement in the Treasury attorney: Eric San Juan (202) legislative history that to qualify under 622-0224 Reviewing attorney: Dale Collinson (202) 622-3920 a treaty for purposes of 1(h)(11) CC:PA:APJ ‘‘substantially all of . . .[the foreign Treasury attorney: Michael Novey (202) Agency Contact: corporation’s] income in the taxable Tonya L. 622-1339 Christianson, Attorney–Advisor, year in which the dividend is paid’’ CC:FI must qualify for treaty benefits. Department of the Treasury, Internal Revenue Service, 1111 Constitution Agency Contact: Timetable: Kathleen Sleeth, Avenue NW, Washington, DC 20224 Attorney–Advisor, Department of the Action Date FR Cite Phone: 202 622–4910 Treasury, Internal Revenue Service, NPRM 06/00/05 RIN: 1545–BD17 1111 Constitution Avenue NW, Washington, DC 20224 Regulatory Flexibility Analysis Phone: 202 622–3920 Required: No 2655. REMIC INTEREST–ONLY RIN: Small Entities Affected: No REGULAR INTERESTS 1545–BD18 Government Levels Affected: None Priority: Substantive, Nonsignificant 2656. ESCROW ACCOUNTS, TRUSTS, Additional Information: REG-107420-04 Unfunded Mandates: Undetermined AND OTHER FUNDS USED DURING Drafting attorney: Michelle S. Lyon Legal Authority: 26 USC 7805 DEFERRED EXCHANGES OF (202) 622-3880 CFR Citation: 26 CFR 1 LIKE–KIND PROPERTY Reviewing attorney: Karen Rennie (202) Legal Deadline: Priority: Substantive, Nonsignificant 622-3880 None Unfunded Mandates: Undetermined Treasury attorney: John Harrington Abstract: The advanced notice of (202) 622-0589 proposed rulemaking describes rules Legal Authority: 26 USC 7805; 26 USC that the IRS and Treasury Department 468B(g) CC:INTL are considering regarding the proper CFR Citation: Agency Contact: Michelle S. Lyon, timing of income or deduction 26 CFR 1; 26 CFR 602 Attorney–Advisor, Department of the attributable to an interest only regular Legal Deadline: None

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TREAS—IRS Proposed Rule Stage

Abstract: These proposed regulations Government Levels Affected: 2659. INTEREST ON LARGE provide rules under section 468B(g) Undetermined CORPORATE UNDERPAYMENTS regarding the taxation and reporting of UNDER SECTION 6621 (C) Additional Information: REG-114084-03 the income earned on escrow accounts, Priority: Info./Admin./Other trusts, and other funds used for Drafting attorney: Lauren R. Taylor deferred exchanges of like-kind (202) 622-3040 Legal Authority: 26 USC 6621 property under section 1031(a)(3). The Reviewing attorney: Susan Reaman CFR Citation: 26 CFR 301 proposed regulations affect qualified (202) 622-3040 Legal Deadline: escrow accounts, qualified trusts, and None other funds established in connection Treasury attorney: Sharon Kay (202) Abstract: These proposed regulations with deferred like-kind exchanges, and 622-0865 will amend section 301.6621-3 of the the taxpayers, escrowees, trustees, CC:PSI Procedure and Administration qualified intermediaries, and other Regulations to address the treatment of parties who receive the funds or Agency Contact: Lauren R. Taylor, net operating loss carrybacks, capital establish, maintain, and administer the Attorney–Advisor, Department of the loss carrybacks, and a credit carrybacks accounts. Treasury, Internal Revenue Service, for purposes of determining whether a 1111 Constitution Avenue NW, Timetable: large corporate underpayment exists Washington, DC 20224 under section 6621(c). This regulation Action Date FR Cite Phone: 202 622–3040 will also implement the changes made NPRM 12/00/04 RIN: 1545–BD20 by the Taxpayer Relief Act of 1997. Regulatory Flexibility Analysis Timetable: Required: Yes 2658. PAYMENTS FOR WHICH NO Action Date FR Cite Small Entities Affected: Businesses RETURN OF INFORMATION IS NPRM 11/00/04 REQUIRED UNDER SECTION 6041 Government Levels Affected: None Regulatory Flexibility Analysis Additional Information: REG-113365-04 Priority: Info./Admin./Other. Major Required: No status under 5 USC 801 is Drafting attorney: A. Katharine J. Kiss undetermined. Small Entities Affected: No (202) 622-4930 Government Levels Affected: Legal Authority: 26 USC 6041 None Reviewing attorney: Jeffrey G. Mitchell Additional Information: REG-147151-03 (202) 622-4930 CFR Citation: 26 CFR 1 Drafting attorney: Michelle B. Baxter CC:ITA:B07 Legal Deadline: None (202) 622-4910 Agency Contact: A. Katharine Kiss, Abstract: This proposed regulation will Reviewing attorney: Pamela W. Fuller Attorney–Advisor, Department of the remove section 1.6041-3(g) of the (202) 622-4910 Treasury, Internal Revenue Service, Income Tax Regulations. 1111 Constitution Avenue NW, Treasury attorney: Julian Kim (202) Washington, DC 20224 Timetable: 622-1981 Phone: 202 622–4930 Action Date FR Cite CC:PA:APJ Related RIN: Split from 1545–AR82 NPRM 11/00/04 Agency Contact: Michelle B. Baxter, RIN: 1545–BD19 Regulatory Flexibility Analysis Attorney–Advisor, Department of the Required: No Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, 2657. SECTION 42 QUALIFIED Small Entities Affected: No Washington, DC 20224 CONTRACT PROVISIONS Government Levels Affected: None Phone: 202 622–4910 Priority: Substantive, Nonsignificant Additional Information: REG-147136-03 RIN: 1545–BD22 Legal Authority: 26 USC 42 Drafting attorney: Michelle B. Baxter CFR Citation: 26 CFR 1 (202) 622-4910 2660. GUIDANCE ON PHASED Legal Deadline: RETIREMENT None Reviewing attorney: James C. Gibbons Abstract: This proposed regulation (202) 622-7085 Priority: Substantive, Nonsignificant under sections 42(h)(6)(F) and Treasury attorney: John Parcell (202) Unfunded Mandates: Undetermined 42(h)(6)(K) will provide guidance for 622-2578 provisions relating to qualified Legal Authority: Not Yet Determined contracts. CC:PA:APJ CFR Citation: 26 CFR 1 Timetable: Agency Contact: Michelle B. Baxter, Legal Deadline: None Attorney–Advisor, Department of the Action Date FR Cite Abstract: This proposed guidance will Treasury, Internal Revenue Service, lay out rules for establishing a bona NPRM 12/00/04 1111 Constitution Avenue NW, fide phased retirement program. Washington, DC 20224 Regulatory Flexibility Analysis Generally, such a program would Phone: 202 622–4910 Required: No provide employees who are at or near Small Entities Affected: No RIN: 1545–BD21 eligibility for retirement with the

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TREAS—IRS Proposed Rule Stage

opportunity for a reduced schedule and Reviewing attorney: Steven Toomey CFR Citation: 26 CFR 1 to receive a distribution of a (202) 622-4920 Legal Deadline: None proportionate share of their pension CC:ITA benefits based on their ‘‘partial Abstract: These regulations will revise retirement.’’ Agency Contact: Brendan O’Hara, the definition of ‘‘qualified amended Attorney Advisor, Department of the return’’ in accordance with Notice Timetable: Treasury, Internal Revenue Service, 2004-38. Action Date FR Cite 1111 Constitution Avenue NW, Timetable: NPRM 12/00/04 Washington, DC 20224 Phone: 202 622–7900 Action Date FR Cite Regulatory Flexibility Analysis NPRM 12/00/04 Required: No RIN: 1545–BD28 Regulatory Flexibility Analysis Small Entities Affected: No 2662. REQUIREMENTS FOR Required: No Government Levels Affected: None REORGANIZATIONS Small Entities Affected: Businesses Additional Information: REG-114726-04 Priority: Substantive, Nonsignificant Government Levels Affected: None Drafting attorney: Cathy A. Vohs (202) Unfunded Mandates: Federalism: 622-6090 Undetermined Undetermined Reviewing attorney: Janet Laufer (202) Legal Authority: 26 USC 7805; 26 USC Additional Information: REG-122847-04 622-6090 368 Drafting attorney: Nancy M. Galib (202) Treasury attorney: Bill Bortz (202) 622- CFR Citation: 26 CFR 1 622-7022 1352 Legal Deadline: None Reviewing attorney: Ashton P. Trice CC:TEGE Abstract: This regulation will provide (202) 622-4940 Agency Contact: Cathy A. Vohs, guidance regarding reorganizations Treasury attorneys: Julian Kim and Attorney–Advisor, Department of the under section 368(a)(1)(f) of the Internal Jonathan Ackerman (202) 622-1981 Treasury, Internal Revenue Service, Revenue Code. CC: APJ 1111 Constitution Avenue NW, Timetable: Agency Contact: Washington, DC 20224 Nancy M. Galib, Action Date FR Cite Phone: 202 622–6090 attorney, Department of the Treasury, NPRM 12/00/04 Internal Revenue Service, 1111 RIN: 1545–BD23 Constitution Avenue NW, Washington, Regulatory Flexibility Analysis DC 20024 Required: No 2661. DEFINITION OF DISQUALIFIED Phone: 202 622–7022 PERSON Small Entities Affected: No RIN: 1545–BD40 Priority: Substantive, Nonsignificant. Government Levels Affected: None Major status under 5 USC 801 is Additional Information: REG-106889-04 2664. APPLICATION OF SECTIONS undetermined. 304(B)(6) AND 367 IN CROSS BORDER Drafting attorney: Robert B. Gray (202) SECTION 304 TRANSACTIONS Legal Authority: 26 USC 7805 622-7550 Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Reviewing attorney: Debra L. Carlisle Legal Deadline: None (202) 622-7550 Legal Authority: 26 USC 7805; 26 USC 304(b)(6); 26 USC 367(a)(6); 26 USC Abstract: These proposed regulations Treasury attorney: Audrey Nacamuli 367(b) provide certain changes to the (202) 622-5721 CFR Citation: 26 CFR 1 definition of a disqualified person CC:COR under section 1.1031-1(k) of the income Legal Deadline: None tax regulations to facilitate the ability Agency Contact: Robert B. Gray, of banks and bank affiliates to act as Attorney–Advisor, Department of the Abstract: This proposed regulation will qualified intermediaries in section 1031 Treasury, Internal Revenue Service, coordinate sections 304 and 367 in exchanges. 1111 Constitution Avenue NW, cross-border stock redemptions. Washington, DC 20224 Timetable: Timetable: Phone: 202 622–7550 Action Date FR Cite Action Date FR Cite RIN: 1545–BD31 NPRM 11/00/04 NPRM 06/00/05 Regulatory Flexibility Analysis 2663. UNDERPAYMENT FOR Regulatory Flexibility Analysis Required: No QUALIFIED AMENDED RETURNS Required: No Small Entities Affected: No Priority: Substantive, Nonsignificant. Small Entities Affected: No Government Levels Affected: None Major status under 5 USC 801 is Government Levels Affected: None Additional Information: REG-160005-03 undetermined. Additional Information: REG-127740-04 Drafting attorney: Brendan P. O’Hara Unfunded Mandates: Undetermined Drafting attorney: Tasheaya Warren (202) 622-4920 Legal Authority: 26 USC 7805 Ellison (202) 622-3870

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TREAS—IRS Proposed Rule Stage

Reviewing attorney: Joseph Calianno Phone: 202 622–6040 Legal Authority: 26 USC 7805 (202) 622-3810 Related RIN: Related to 1545–BB64 CFR Citation: Not Yet Determined Treasury attorney: Carl Dubert (202) RIN: 1545–BD50 Legal Deadline: None 622-0222 Abstract: These proposed regulations CC:INTL 2666. ∑ HIPAA PORTABILITY: amend the regulations under section Agency Contact: Tasheaya Warren SPECIAL ENROLLMENT 415 of the Internal Revenue Code Ellison, Attorney–Advisor, Department PROCEDURES, TOLLING, AND relating to limitations on benefits and of the Treasury, Internal Revenue INTERACTION WITH FMLA contributions under qualified plans. Service, 1111 Constitution Avenue NW, Section 415 provides a complex series Washington, DC 20224 Priority: Substantive, Nonsignificant of limits on benefits under defined Phone: 202 622–3870 Legal Authority: 26 USC 7805; 26 USC benefit plans and contributions and RIN: 1545–BD46 9833 other additions under defined contribution plans. Comprehensive CFR Citation: 26 CFR 54 regulations regarding section 415 were 2665. ∑ SALARY REDUCTION Legal Deadline: None last issued in 1980. These regulations AGREEMENT UNDER SECTION Abstract: These regulations enhance are being proposed to reflect statutory 312(A)(5)(D) (TEMPORARY) the existing HIPAA portability changes and guidance items and to Priority: Substantive, Nonsignificant regulations by tolling the running of clarify certain other issues. Unfunded Mandates: Undetermined certain time periods in certain Timetable: circumstances, clarifying the Action Date FR Cite Legal Authority: 26 USC 7805; 26 USC procedures for requesting special 6302 enrollment, addressing how the HIPAA NPRM 12/00/04 CFR Citation: 26 CFR 31 portability requirements apply to Regulatory Flexibility Analysis Legal Deadline: None individuals taking leave under the Required: Undetermined Family and Medical Leave Act of 1993, Abstract: The temporary regulation Government Levels Affected: and prescribing how to count the Undetermined defines the term ‘‘salary reduction number of employees an employer has. agreement’’ within the meaning of Federalism: Undetermined Timetable: section 3121(a)(5)(D) as a plan or Additional Information: REG-130241-04 arrangement whereby payment will be Action Date FR Cite made by an employer to an annuity Drafting attorney: Linda Marshall (202) described in section 403(b) if an NPRM 06/00/05 622-8012 employee elects to reduce his Regulatory Flexibility Analysis CC: TEGE:QP1 compensation or if an employee agrees Required: No Agency Contact: Linda Marshall, as a condition of employment to make Small Entities Affected: No Senior Counsel, Department of the a mandatory contribution that reduces Government Levels Affected: None Treasury, Internal Revenue Service, his compensation. 1111 Constitution Avenue NW, Timetable: Additional Information: REG-130370-04 Washington, DC 20224 Action Date FR Cite Drafting attorney: Russell Weinheimer Phone: 202 622–8012 (202) 622-6080 RIN: 1545–BD52 Temporary Regulation 12/00/04 Reviewing attorney: Alan Tawshunsky Regulatory Flexibility Analysis (202) 622-6000 ∑ Required: No 2668. GUIDANCE UNDER SECTION Treasury attorney: Kevin Knopf (202) 1502; MISCELLANEOUS OPERATING Small Entities Affected: Governmental 622-2329 RULES FOR SUCCESSOR PERSONS; Jurisdictions, Organizations APPLICABILITY OF SECTION 381 CC:TEGE Government Levels Affected: Local, Priority: Substantive, Nonsignificant State Agency Contact: Russell Weinheimer, Unfunded Mandates: Undetermined Additional Information: REG-155608-02 Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Legal Authority: 26 USC 7805; 26 USC Drafting attorney: Neil D. Shepherd 1111 Constitution Avenue NW, 1502 (202) 622-6040 Washington, DC 20224 CFR Citation: 26 CFR 1 Reviewing attorney: Lynne Camillo Phone: 202 622–6080 Legal Deadline: None (202) 622-6040 Related RIN: Related to 1545–AW02, Abstract: Treasury attorney: William Bortz (202) Related to 1545–AX84 This regulation will address 622-1332 certain issues related to complete RIN: 1545–BD51 liquidations when more than one group CC:TEGE member owns stock of the liquidating Agency Contact: Neil D. Shepherd, 2667. ∑ UPDATE OF 415 company. Attorney–Advisor, Department of the REGULATIONS Timetable: Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Priority: Substantive, Nonsignificant Action Date FR Cite Washington, DC 20224 Unfunded Mandates: Undetermined NPRM 12/00/04

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TREAS—IRS Proposed Rule Stage

Regulatory Flexibility Analysis 2670. ∑ CLASSIFICATION OF INDIAN Additional Information: REG-130671-04 Required: No TRIBAL CORPORATIONS Drafting attorney: Michael E. Hara (202) Small Entities Affected: No Priority: Substantive, Nonsignificant 622-4910 Government Levels Affected: None Unfunded Mandates: Undetermined Reviewing attorneys: James Gibbons Additional Information: REG-131128-04 Legal Authority: 26 USC 7701; 26 USC (202) 622-4910 and Carol Nachman (202) 622-4910 Drafting attorney: Jeffrey B. Fienberg 7805 (202) 622-7770 CFR Citation: 26 CFR 1 CC:PA:APJP:1 Reviewing attorney: Edward S. Cohen Legal Deadline: None Agency Contact: Michael E. Hara, (202) 622-7770 Attorney–Advisor, Department of the Abstract: The regulation will provide Treasury, Internal Revenue Service, Treasury attorney: Audrey Nacamuli guidance regarding classificataion of 1111 Constitution Avenue NW, (202) 622-5721 Indian Tribal Corporations for Federal Washington, DC 20224 tax purposes. CC: CORP:B2 Phone: 202 622–4910 Agency Contact: Timetable: Jeffrey B. Fienberg, RIN: 1545–BD65 Attorney–Advisor, Department of the Action Date FR Cite Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, NPRM 12/00/04 2672. ∑ REMIC RESIDUALS–FOREIGN Washington, DC 20224 Regulatory Flexibility Analysis HOLDERS (TEMPORARY) Phone: 202 622–7770 Required: Undetermined Priority: Substantive, Nonsignificant RIN: 1545–BD54 Government Levels Affected: None Unfunded Mandates: Undetermined Federalism: Undetermined Legal Authority: 26 USC 7805; 26 USC ∑ 2669. AGGREGATE COMPUTATION; Additional Information: REG-136069-04 860G ALLOCATION OF RESEARCH CREDIT II Drafting attorney: Barbara Campbell CFR Citation: None (202) 622-3050 Priority: Substantive, Nonsignificant Legal Deadline: None Reviewing attorney: Dianna Miosi (202) Abstract: The regulations address the Legal Authority: 26 USC 41 622-3050 CFR Citation: 26 CFR 1 recognition of income associated with CC:PSI a Real Estate Mortgage Investment Legal Deadline: None Agency Contact: Barbara Campbell, Conduit (REMIC) residual interest that Abstract: This regulation relates to the Attorney–Advisor, Department of the is allocated to a foreign person. computation and allocation of the Treasury, Internal Revenue Service, Timetable: credit for increasing research activities 1111 Constitution Avenue NW, for members of a controlled group Washington, DC 20224 Action Date FR Cite under section 41(f) of the Internal Phone: 202 622–3050 Temporary Regulation 12/00/04 Revenue Code. RIN: 1545–BD61 Regulatory Flexibility Analysis Timetable: Required: No Action Date FR Cite 2671. ∑ MANDATORY E–FILING FOR Small Entities Affected: No NPRM 12/00/04 FORMS 1120 Government Levels Affected: None Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant Additional Information: REG-159929-02 Required: No Legal Authority: 26 USC 6011(e) Drafting attorney: Arturo Estrada (202) Government Levels Affected: CFR Citation: 26 CFR 1; 26 CFR 301 622-3900 Undetermined Legal Deadline: None Treasury attorney: Andrew Froberg Additional Information: REG-134030-04 Abstract: These proposed regulations (202) 622-1779 Drafting attorney: Nicole R. Cimino will provide that certain entities that CC:FI (202) 622-3120 file at least 250 information returns Agency Contact: Arturo Estrada, Reviewing attorney: Brenda M. Stewart during the calendar year are required Attorney–Advisor, Department of the (202) 622-3120 to file their income tax returns Treasury, Internal Revenue Service, electronically. Treasury attorney: Sharon Kay (202) 1111 Constitution Avenue NW, 622-0865 Timetable: Washington, DC 20224 CC:PSI Action Date FR Cite Phone: 202 622–3900 Agency Contact: Nicole R. Cimino, NPRM 12/00/04 RIN: 1545–BD66 Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Regulatory Flexibility Analysis 2673. ∑ DECLARATORY JUDGMENT— 1111 Constitution Avenue NW, Required: Yes GIFT TAX VALUE Washington, DC 20224 Small Entities Affected: Businesses, Phone: 202 622–3120 Organizations Priority: Substantive, Nonsignificant RIN: 1545–BD60 Government Levels Affected: None Unfunded Mandates: Undetermined

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TREAS—IRS Proposed Rule Stage

Legal Authority: 26 USC 7477 Timetable: 2676. ∑ SECTION 704(B)(2) AND CFR Citation: 26 CFR 1 Action Date FR Cite SUBSTANTIALITY Legal Deadline: None NPRM 12/00/04 Priority: Substantive, Nonsignificant Abstract: Proposed regulations relating Regulatory Flexibility Analysis Unfunded Mandates: Undetermined to the redetermination of value of Required: No Legal Authority: 26 USC 704(b)(2) certain gifts in a declaratory judgment Small Entities Affected: Businesses CFR Citation: 26 CFR 1 action. Government Levels Affected: None Legal Deadline: None Timetable: Additional Information: REG-138362-04 Abstract: Clarify the substantiality Action Date FR Cite Drafting attorney: Pamela R. Kinard rules under section 1.704-1(b)(2)(iii) as NPRM 12/00/04 (202) 622-6060 to the impact of the tax consequences Regulatory Flexibility Analysis to owners of partners on the Reviewing attorney: Marjorie Hoffman determination of substantiality. Required: No (202) 622-6060 Timetable: Small Entities Affected: No CC: TEGE Action Date FR Cite Government Levels Affected: Agency Contact: Pamela R. Kinard, Undetermined Attorney–Advisor, Department of the NPRM 01/00/05 Federalism: Undetermined Treasury, Internal Revenue Service, Regulatory Flexibility Analysis 1111 Constitution Avenue NW, Additional Information: REG-143716-04 Required: No Washington, DC 20224 Drafting attorney: Juli Ro Kim (202) Phone: 202 622–6060 Small Entities Affected: No 622-3090 RIN: 1545–BD68 Government Levels Affected: None Reviewing attorney: George Masnik Additional Information: REG-144620-04 (202) 622-3090 2675. ∑ DISABLED ACCESS CREDIT Drafting attorney: Heather L. Faught Treasury attorney: Cathy Hughes (202) (202) 622-3060 622-9407 Priority: Substantive, Nonsignificant Reviewing attorney: Beverly Katz (202) CC: PSI Legal Authority: 26 USC 44; 26 USC 7805 622-3060 Agency Contact: Juli Ro Kim, CFR Citation: 26 CFR 1 Treasury attorney: Deborah Harrington Attorney–Advisor, Department of the (202) 622-1788 Treasury, Internal Revenue Service, Legal Deadline: None CC:PSI 1111 Constitution Avenue NW, Abstract: Guidance under section 44 Washington, DC 20224 regarding the disabled access credit for Agency Contact: Heather L. Faught, Phone: 202 622–3090 eligible small business. Attorney–Advisor, Department of the Treasury, Internal Revenue Service, RIN: 1545–BD67 Timetable: 1111 Constitution Avenue NW, Action Date FR Cite Washington, DC 20224 ∑ 2674. USE OF ELECTRONIC Phone: 202 622–3060 TECHNOLOGIES FOR PROVIDING NPRM 02/00/05 NOTICES AND TRANSMITTING Regulatory Flexibility Analysis RIN: 1545–BD70 ELECTIONS AND CONSENTS Required: No Priority: Substantive, Nonsignificant. Small Entities Affected: No 2677. ∑ REGULATIONS UNDER SECTION 706 REGARDING TAXABLE Major status under 5 USC 801 is Government Levels Affected: YEAR OF A PARTNERSHIP undetermined. Undetermined Priority: Unfunded Mandates: Undetermined Additional Information: REG-144246-04 Substantive, Nonsignificant Legal Authority: 26 USC 7805; 26 USC Drafting attorney: Eric B. Lee (202) 622- Unfunded Mandates: Undetermined 401; PL106–229, SEC 104 3120 Legal Authority: 26 USC 706 CFR Citation: 26 CFR 1; 26 CFR 35; Reviewing attorney: Leslie H. Finlow CFR Citation: 26 CFR 1 26 CFR 54 (2020 622-3120 Legal Deadline: None Legal Deadline: None Treasury attorney: Sharon Kay (202) Abstract: This regulation will provide 622-0865 Abstract: The proposed regulations rules regarding the determination of a provide guidance on the permitted use CC:PSI partner’s distributive share when the of electronic media to provide certain partner’s interest changes. notices to recipients or to transmit Agency Contact: Eric B. Lee, participant and beneficiary elections or Attorney–Advisor, Department of the Timetable: Treasury, Internal Revenue Service, consents with respect to employee Action Date FR Cite benefit plans. In general, the proposed 1111 Constitution Avenue NW, regulations would affect plan sponsors Washington, DC 20224 NPRM 02/00/05 of and participants and beneficiaries in Phone: 202 622–3120 Regulatory Flexibility Analysis employee benefit plans RIN: 1545–BD69 Required: No

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TREAS—IRS Proposed Rule Stage

Small Entities Affected: No 2679. ∑ GUIDANCE UNDER SECTION Small Entities Affected: No 707(C) REGARDING GUARANTEED Government Levels Affected: None Government Levels Affected: PAYMENTS None Additional Information: REG-144689-04 Priority: Substantive, Nonsignificant Additional Information: REG-117969-00 Drafting attorney: Laura C. Nash (202) Unfunded Mandates: Undetermined Drafting attorney: Vincent Daly (202) 622-3050 Legal Authority: 26 USC 707 622-7770 Reviewing attorney: David Haglund CFR Citation: Not Yet Determined Reviewing attorney: Marlene (202) 622-3050 Oppenheim (202) 622-7770 Legal Deadline: None Treasury attorney: Deborah Harrington Abstract: This regulation will modify Treasury attorney: Audrey Nacamuli (202) 622-1788 the regulations under section 707(c) to (202) 622-5721 CC:PSI address certain situations involving CC: COR guaranteed payments to partners. Agency Contact: Laura C. Nash, Agency Contact: Vincent Daly, 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, NPRM 11/00/04 1111 Constitution Avenue NW, Washington, DC 20224 Washington, DC 20224 Phone: 202 622–3050 Regulatory Flexibility Analysis Phone: 202 622–7770 Required: No RIN: 1545–BD71 RIN: 1545–BD76 Small Entities Affected: No Government Levels Affected: None 2678. ∑ SHAREHOLDER’S BASIS IN 2681. ∑ CLASSIFICATION OF CERTAIN STOCK OF AN S CORPORATION Additional Information: REG-144694-04 FOREIGN ENTITIES Drafting attorney: Jason T. Smyczek Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant (202) 622-3050 Unfunded Mandates: Undetermined Reviewing attorney: Dan Carmody (202) Unfunded Mandates: Undetermined Legal Authority: 26 USC 7805; 26 USC 622-3050 Legal Authority: 26 USC 7805; 26 USC 1367 Treasury attorney: Deborah Harrington 7701 CFR Citation: 26 CFR 1 (202) 622-1788 CFR Citation: 26 CFR 1 CC:PSI Legal Deadline: None Legal Deadline: None Agency Contact: Jason T. Smyczek, Abstract: This regulation will provide Attorney–Advisor, Department of the Abstract: These regulations will revise rules relating to the determination of Treasury, Internal Revenue Service, the entity classification rules. a shareholder’s basis in stock of an S 1111 Constitution Avenue NW, Corporation. Timetable: Washington, DC 20224 Timetable: Phone: 202 622–3050 Action Date FR Cite Action Date FR Cite RIN: 1545–BD74 NPRM 12/00/04 NPRM 12/00/04 Regulatory Flexibility Analysis ∑ Required: No Regulatory Flexibility Analysis 2680. GUIDANCE UNDER SECTION 368 REGARDING MERGERS WITH Required: Undetermined Government Levels Affected: None AND INTO A FOREIGN CORPORATION Additional Information: REG-148521-04 Small Entities Affected: Businesses Priority: Substantive, Nonsignificant Government Levels Affected: None Unfunded Mandates: Undetermined Drafting attorney: Ronald M. Gootzeit (202) 622-3860 Additional Information: REG-144859-04 Legal Authority: 26 USC 7805 Reviewing attorney: Charles M. Besecky CFR Citation: 26 CFR 368 Drafting attorney: Stacey Short (202) (202) 622-3860 622-3070 and Christopher Trump (202) Legal Deadline: None 622-3070 Treasury attorney: Carl Dubert (202) Abstract: This regulation addresses 622-0222 Reviewing attorney: Christine Ellison whether a transaction involving one or (202) 622-3070 more foreign corporations may qualify CC:INTL as a statutory merger within the CC:PSI Agency Contact: Ronald M. Gootzeit, meaning of section 368(a)(l)(A) of the Attorney–Advisor, Department of the Agency Contact: Stacy L. Short, Internal Revenue Code. Treasury, Internal Revenue Service, Attorney, Department of the Treasury, Timetable: 1111 Constitution Avenue NW, Internal Revenue Service, 1111 Washington, DC 20224 Constitution Avenue NW, Washington, Action Date FR Cite Phone: 202 622–3860 DC 20224 NPRM 12/00/04 Related RIN: Related to 1545–BD78 Phone: 202 622–3070 Regulatory Flexibility Analysis RIN: 1545–BD72 Required: No RIN: 1545–BD77

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TREAS—IRS Proposed Rule Stage

2682. ∑ CLASSIFICATION OF CERTAIN Treasury Regulation section 1.381(c)(4) CC:ITA FOREIGN ENTITIES (TEMPORARY) language, terms, and conditions with Agency Contact: Angella L. Warren, Priority: Substantive, Nonsignificant. Treasury Regulation section 1.381(c)(5); reordering, simplifying, and indexing Attorney, Department of the Treasury, Major status under 5 USC 801 is Internal Revenue Service, 1111 undetermined. Treasury Regulation sections 1.381 (c)(4) and (5). Constitution Avenue NW, Washington, Legal Authority: 26 USC 7805; 26 USC DC 20224 Timetable: 7701 Phone: 202 622–4950 Action Date FR Cite CFR Citation: 26 CFR 1 RIN: 1545–BD82 NPRM 01/00/05 Legal Deadline: None Regulatory Flexibility Analysis Abstract: These regulations will revise 2685. ∑ GUIDANCE REGARDING Required: No the entity classification rules. SELECTED ISSUES UNDER SECTION Small Entities Affected: No Timetable: 336(E) Government Levels Affected: None Action Date FR Cite Priority: Substantive, Nonsignificant. Additional Information: REG-151884-03 Major status under 5 USC 801 is Temporary Regulation 12/00/04 and REG-151887-03 undetermined. Regulatory Flexibility Analysis Drafting attorney: Jeffery G. Mitchell Required: No (202) 622-4930 Unfunded Mandates: Undetermined Government Levels Affected: None Treasury attorney: Sharon Kay (202) Legal Authority: 26 USC 336; 26 USC Additional Information: REG-148521-04 622-0865 7805 Drafting attorney: Ronald M. Gootzeit CC:ITA CFR Citation: 26 CFR 1 (202) 622-3860 Agency Contact: Jeffery G. Mitchell, Attorney–Advisor, Department of the Legal Deadline: None Reviewing attorney: Charles M. Besecky Treasury, Internal Revenue Service, (202) 622-3860 Abstract: Proposed regulations will 1111 Constitution Avenue NW, address the circumstances in which a Treasury attorney: Carl Dubert (202) Washington, DC 20224 corporation that owns stock in another 622-0222 Phone: 202 622–4970 corporation meeting the requirements CC:INTL RIN: 1545–BD81 of section 1504(a)(2) and that sells, Agency Contact: Ronald M. Gootzeit, exchanges, or distributes all of such Attorney–Advisor, Department of the 2684. ∑ AMENDMENTS TO 26 CFR stock, can make an election under Treasury, Internal Revenue Service, SECTION 1.263(A)–5 REGARDING section 336(e) to treat such sale, 1111 Constitution Avenue NW, TREATMENT OF CAPITALIZED COSTS exchange, or distribution as a Washington, DC 20224 disposition of all the assets of such Priority: Substantive, Nonsignificant Phone: 202 622–3860 other corporation and recognize no gain Unfunded Mandates: Undetermined or loss on the sale, exchange, or Related RIN: Related to 1545–BD77 Legal Authority: 26 USC 263(a) distribution of such stock. RIN: 1545–BD78 CFR Citation: 26 CFR 1 Timetable: Legal Deadline: None Action Date FR Cite 2683. ∑ POSSIBLE UPDATE AND REVISION OF TREASURY Abstract: To reduce the prospect of NPRM 07/00/05 REGULATION SECTIONS 1.381(C)(4) future controversy, the Service and AND (5)–1 Treasury Department intend to propose Regulatory Flexibility Analysis regulations to address the treatment of Required: No Priority: Substantive, Nonsignificant amounts that facilitate certain tax-free Small Entities Affected: No Unfunded Mandates: Undetermined and taxable transactions and other restructurings and that are required to Legal Authority: 26 USC 381(c)(4); 26 Government Levels Affected: None be capitalized under section 263(a) and USC 381(C)(5) section 1.263(a)-5. Additional Information: REG-143544-04 CFR Citation: 26 CFR 1 Timetable: Drafting attorney: Emidio J. Forlini Legal Deadline: None Action Date FR Cite (202) 622-7930 Abstract: The proposed amendments NPRM 03/00/05 will focus on how to determine the CC: COR Regulatory Flexibility Analysis principal accounting method; how Agency Contact: Required: No Emidio J. Forlini Jr., taxpayers will procedually change Attorney, Department of the Treasury, when they’re not permitted to use or Small Entities Affected: No Internal Revenue Service, 1111 prefer not to use the principal Government Levels Affected: None Constitution Avenue NW, Washington, accounting method; how taxpayers will Additional Information: REG-143640-04 DC 20224 reflect the difference in computing Phone: 202 622–7930 taxable income when they change their Drafting attorney: Angella L. Warren accounting methods; reconciling (202) 622-4950 RIN: 1545–BD84

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TREAS—IRS Proposed Rule Stage

2686. ∑ GUIDANCE UNDER SECTION Treasury, Internal Revenue Service, Timetable: 79 1111 Constitution Avenue NW, Action Date FR Cite Priority: Substantive, Nonsignificant. Washington, DC 20224 NPRM 03/00/05 Major status under 5 USC 801 is Phone: 202 622–6080 undetermined. RIN: 1545–BD85 Regulatory Flexibility Analysis Unfunded Mandates: Undetermined Required: No Legal Authority: 26 USC 79 2687. ∑ DEFINITION OF THE ‘‘DUE Small Entities Affected: No CFR Citation: 26 CFR 79 DATE’’ FOR PURPOSES OF Government Levels Affected: None CALCULATING OVERPAYMENT Legal Deadline: None INTEREST UNDER SECTION Additional Information: REG-148576-04 Abstract: Guidance under 26 U.S.C. 301.6611(H) Drafting attorney: Tatiana Belenkaya section 79, group term life insurance. Priority: Info./Admin./Other (202) 622-4910 Timetable: Unfunded Mandates: Undetermined Reviewing attorney: Pamela W. Fuller Action Date FR Cite (202) 622-4910 Legal Authority: 26 USC 6611 NPRM 07/00/05 CC:APJP:B01 Regulatory Flexibility Analysis CFR Citation: 26 CFR 301 Agency Contact: Tatiana L. Belenkaya, Required: Undetermined Legal Deadline: None Attorney, Department of the Treasury, Government Levels Affected: Internal Revenue Service, 1111 Abstract: These regulations will amend Undetermined Constitution Avenue NW, Washington, 26 CFR section 301.6611-1(h) to clarify DC 20224 Federalism: Undetermined the allowance for overpayment interest Phone: 202 622–4910 Agency Contact: Betty J. Clary, in cases in which an overpayment is Attorney–Advisor, Department of the credited against an underpayment. RIN: 1545–BD86

Department of the Treasury (TREAS) Final Rule Stage Internal Revenue Service (IRS)

2688. FOREIGN CORPORATIONS Timetable: 2689. NONRECOGNITION OF CORPORATE DISTRIBUTIONS AND Action Date FR Cite Priority: Substantive, Nonsignificant REORGANIZATIONS UNDER THE Legal Authority: 26 USC 7805; 26 USC NPRM 05/16/86 51 FR 17990 FOREIGN INVESTMENT IN REAL 367 Final Action 06/00/05 PROPERTY TAX ACT Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Regulatory Flexibility Analysis Required: No Legal Authority: 26 USC 7805; 26 USC Legal Deadline: None 897 Small Entities Affected: No Abstract: The income tax regulations CFR Citation: 26 CFR 1 under section 367 will be amended to Government Levels Affected: None Legal Deadline: None reflect the changes made to that section by the Tax Reform Act of 1984. Section Additional Information: REG-209042-86 Abstract: These regulations will 367 now provides generally that a (INTL-610-86) provide rules concerning the effect of foreign corporation will not be certain distributions including Drafting attorney: Michael H. Frankel considered to be a corporation, for dividends, redemptions, distributions purposes of certain nonrecognition (202) 622-3860 pursuant to reorganizations, and liquidations on corporations and their provisions of the Code, upon the Reviewing attorney: Charlie Besecky shareholders under the Foreign transfer of property to such corporation (202) 622-3860 by a U.S. person. The statute provides Investment in Real Property Tax Act. certain exceptions to that rule, CC:INTL Regulations will also provide rules for exemptions to those exceptions, and determining the extent to which special rules applicable to certain Agency Contact: Michael H. Frankel, nonrecognition would apply to certain specified transfers. The regulations will Senior Technical Reviewer, Department transfers of real property interests and provide guidance concerning the of the Treasury, Internal Revenue the extent to which certain applicability of the general rule and its Service, 1111 Constitution Avenue NW, reorganizations will be treated as sales exceptions and special rules, including Washington, DC 20224 of property at fair market value. guidance concerning transfers of assets Phone: 202 622–3860 Timetable: for use in the active conduct of a trade or business, stock transfers, transfers of RIN: 1545–AK74 Action Date FR Cite intangible assets, and transfers of NPRM 05/05/88 53 FR 16233 branch operations that have operated at Hearing 03/01/89 54 FR 1189 a loss. Final Action 12/00/04

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TREAS—IRS Final Rule Stage

Regulatory Flexibility Analysis 2691. INTEREST–FREE 2692. DEFINITION OF ‘‘HIGHLY Required: No ADJUSTMENTS COMPENSATED EMPLOYEE’’ Priority: Small Entities Affected: No Priority: Substantive, Nonsignificant Substantive, Nonsignificant Government Levels Affected: None Legal Authority: 26 USC 7805; 26 USC Legal Authority: 26 USC 7805; 26 USC 414 Additional Information: 6205 REG-209039-87 CFR Citation: 26 CFR 1 (INTL-491-87) CFR Citation: 26 CFR 31 Legal Deadline: None Drafting attorney: Robert W. Lorence Abstract: The regulations define the (202) 622-3860 Legal Deadline: None term ‘‘highly compensated employee’’ Reviewing attorney: Charles P. Besecky Abstract: Under section 6205(a)(1) of under section 414(q) of the Code. (202) 622-3860 the Code, if less than the correct Temporary and proposed regulations, under sections 414(q) and 414(s), were CC:INTL amount of tax imposed under the FICA, the RRTA, or the income tax published February 19, 1988 (53 FR Agency Contact: Robert W. Lorence, withholding provisions is paid with 4965). Final regulations, under section Senior Counsel, Department of the respect to any payment of wages or 414(s), were published September 19, Treasury, Internal Revenue Service, compensation, proper adjustments with 1991 (56 FR 47659), under project EE- 1111 Constitution Avenue NW, respect to both the tax and amount to 129-86. The regulations under 414(q) Washington, DC 20224 be deducted must be made without were split off from project EE-129-86. Phone: 202 622–3860 interest in such manner and in such It is anticipated that proposed regulations under section 414(q) will be RIN: 1545–AK79 times as the Secretary may by regulations prescribe. The amendments published in the future under project add language to clarify that an interest- REG-209558-92 (EE-32-92). 2690. REGISTRATION REQUIRED free adjustment can be made in certain Timetable: OBLIGATIONS situations in which the error is Action Date FR Cite Priority: Substantive, Nonsignificant ascertained before the appropriate return is filed. The amendments are NPRM 02/19/88 53 FR 4999 Legal Authority: 26 USC 7805; 26 USC intended to apply only to situations in NPRM Comment 04/19/88 165 which no return was filed because the Period End employer improperly failed to treat its Partially Closed by TD 06/27/94 59 FR 32911 CFR Citation: 26 CFR 1 workers as employees. 8548 Legal Deadline: None Final Action 12/00/04 Timetable: Regulatory Flexibility Analysis Abstract: This regulation will finalize Required: No all outstanding proposed regulations Action Date FR Cite under section 1.163-1(b)(2). NPRM 12/10/92 57 FR 58423 Small Entities Affected: No Timetable: NPRM Comment 02/08/93 Government Levels Affected: Local, Period End State Action Date FR Cite Final Action 12/00/04 Federalism: Undetermined NPRM 01/21/93 58 FR 5316 Additional Information: REG-209558-92 Final Action 12/00/04 Regulatory Flexibility Analysis Required: No Drafting attorney: R. Lisa Mojiri-Azad Regulatory Flexibility Analysis (202) 622-6080 Required: No Small Entities Affected: No Reviewing attorney: Marjorie Hoffman Small Entities Affected: No Government Levels Affected: None (202) 622-6030 Government Levels Affected: None Additional Information: REG-209538-92 Treasury attorney: W. Thomas Reeder (202) 622-1341 Additional Information: REG-208245-90 (EE-12-92) (INTL-115-90) CC:TEGE Drafting attorney: Karin Loverud (202) Agency Contact: R. Lisa Mojiri–Azad, Drafting attorney: Carl M. Cooper (202) 622-6060 622-3840 Senior Attorney, Department of the Reviewing attorney: Mary Oppenheimer Treasury, Internal Revenue Service, Reviewing attorney: Valerie A. Mark (202) 622-6010 1111 Constitution Avenue NW, Lippe (202) 622-3840 Washington, DC 20224 CC:TEGE Phone: 202 622–6060 CC:INTL RIN: 1545–AQ74 Agency Contact: Carl M. Cooper, Agency Contact: Karin Loverud, Tax Attorney–Advisor, Department of the Law Specialist, Department of the Treasury, Internal Revenue Service, Treasury, Internal Revenue Service, 2693. ESCROW FUNDS AND OTHER 1111 Constitution Avenue NW, 1111 Constitution Avenue NW, SIMILAR FUNDS Washington, DC 20224 Washington, DC 20224 Priority: Substantive, Nonsignificant Phone: 202 622–3840 Phone: 202 622–6060 Legal Authority: 26 USC 7805; 26 USC RIN: 1545–AP33 RIN: 1545–AQ61 0468B

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TREAS—IRS Final Rule Stage

CFR Citation: 26 CFR 1 Small Entities Affected: No Phone: 202 622–3950 Legal Deadline: None Government Levels Affected: None RIN: 1545–AT46 Abstract: This regulation provides Additional Information: REG-209724-94 further guidance relating to certain (FI-42-94) 2696. DEFINITION OF PRIVATE escrow funds and other similar funds. Drafting attorney: Stephen J. Coleman ACTIVITY BOND—REFUNDING Timetable: (202) 622-6289 REGULATIONS Action Date FR Cite Reviewing attorney: Elizabeth Handler Priority: Substantive, Nonsignificant NPRM 02/01/99 64 FR 4801 (202) 622-3157 Legal Authority: 26 USC 7805 NPRM Comment 05/03/99 CC:FIP CFR Citation: 26 CFR 1 Period End Sections 1.475(a)-3 finalized in TD Final Action 12/00/04 Legal Deadline: None 8700. Sections 1.475(b)-4 finalized in Abstract: These regulations will Regulatory Flexibility Analysis TD 8700. Sections 1.475(c)-2 finalized provide guidance on the application of Required: Yes in TD 8700. the private loan test and the private Small Entities Affected: Businesses Agency Contact: Stephen J. Coleman, business use and private Government Levels Affected: None Attorney–Advisor, Department of the payments/security tests to refunding Treasury, Internal Revenue Service, Additional Information: REG-209619-93 bonds. 1111 Constitution Avenue NW, (IA-17-93) Timetable: Washington, DC 20224 Drafting attorney: Richard Shevak (202) Phone: 202 622–6289 Action Date FR Cite 622-8142 RIN: 1545–AS85 NPRM 12/30/94 59 FR 67658 Reviewing attorney: Jeffery G. Mitchell NPRM Comment 05/01/95 (202) 622-7034 Period End 2695. STRADDLES— CC:ITA:7 Second NPRM 05/14/03 68 FR 25845 –MISCELLANEOUS ISSUES Final Action 12/00/04 Agency Contact: Richard Shevak, Priority: Substantive, Nonsignificant Attorney–Advisor, Department of the Regulatory Flexibility Analysis Treasury, Internal Revenue Service, Legal Authority: 26 USC 7805; 26 USC Required: No 1111 Constitution Avenue NW, 1092 Small Entities Affected: No Washington, DC 20224 CFR Citation: 26 CFR 1 Government Levels Affected: None Phone: 202 622–8142 Legal Deadline: None Additional Information: REG-113007-99 Related RIN: Related to 1545–BD19 Abstract: This regulation clarifies the Drafting attorney: Laura Lederman (202) RIN: 1545–AR82 circumstances in which common stock 622-3980 may be personal property for purposes of section 1092. Treasury attorney: Stephen Watson 2694. MARK–TO–MARKET UPON (202) 622-1322 DISPOSITION Timetable: CC:TEGE Priority: Substantive, Nonsignificant Action Date FR Cite Agency Contact: Laura Lederman, Legal Authority: 26 USC 7805; 26 USC NPRM 05/02/95 60 FR 21482 attorney, Department of the Treasury, 475 Final Action 12/00/04 Internal Revenue Service, 1111 CFR Citation: 26 CFR 1 Regulatory Flexibility Analysis Constitution Avenue NW, Washington, Legal Deadline: None Required: No DC 20024 Phone: 202 622–3980 Abstract: The regulations address the Small Entities Affected: No RIN: 1545–AU98 relationship between mark-to-market Government Levels Affected: None accounting and accrual of stated interest, discount and premium, and Additional Information: REG-209768-95 (FI-21-95) 2697. RETURN OF LEVIED PROPERTY between mark-to-market accounting and IN CERTAIN CASES the tax treatment of bad debts. The Drafting attorney: Mary Brewer (202) regulations also provide that securities 622-3950 Priority: Substantive, Nonsignificant are to be marked to market upon Reviewing attorney: Christina Morrison Unfunded Mandates: Undetermined disposition by a dealer and the (202) 622-3950 Legal Authority: 26 USC 7805 exemption from marking to market in certain securitization transactions. Treasury attorney: Mike Novey (202) CFR Citation: 26 CFR 301 622-1339 Timetable: Legal Deadline: None CC:FI Action Date FR Cite Abstract: Section 501(b) of the Agency Contact: Mary Brewer, Taxpayer Bill of Rights 2 amended NPRM 01/04/95 60 FR 397 Attorney–Advisor, Department of the section 6343 of the Internal Revenue Final Action 12/00/04 Treasury, Internal Revenue Service, Code to authorize the Secretary to Regulatory Flexibility Analysis 1111 Constitution Avenue NW, return levied property in four Required: No Washington, DC 20224 enumerated circumstances. Section

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TREAS—IRS Final Rule Stage

1102(d)(1)(B) of RRA 98 changed Reviewing attorney: Valerie A. Mark certain transfers of intercompany ‘‘Taxpayer Advocate’’ to ‘‘National Lippe (202) 622-3840 obligations by or to a member of a Taxpayer Advocate’’ as a person who CC:INTL consolidated group. determines what is in the best interest Timetable: of the taxpayer. The regulations set Agency Contact: Carl M. Cooper, forth the circumstances in which the Attorney–Advisor, Department of the Action Date FR Cite Treasury, Internal Revenue Service, Secretary may return property and NPRM 12/18/98 63 FR 70354 1111 Constitution Avenue NW, procedures to implement these NPRM Comment 03/22/99 sections. Washington, DC 20224 Period End Phone: 202 622–3840 Timetable: Final Action 12/00/04 RIN: 1545–AV27 Action Date FR Cite Regulatory Flexibility Analysis Required: No NPRM 02/14/01 66 FR 10249 2699. MARK–TO–MARKET Small Entities Affected: No Final Action 12/00/04 ACCOUNTING FOR DEALERS IN Regulatory Flexibility Analysis COMMODITIES AND TRADERS IN Government Levels Affected: None Required: No SECURITIES AND COMMODITIES Additional Information: REG-105964-98 Small Entities Affected: No Priority: Substantive, Nonsignificant Drafting attorney: Frances Kelly (202) Government Levels Affected: None Legal Authority: 26 USC 475; 26 USC 622-7072 Additional Information: REG-101520-97 7805 Reviewing attorney: Michael J. Wilder (202) 622-3393 Drafting attorney: Kevin B. Connelly CFR Citation: 26 CFR 1 (202) 622-3630 Legal Deadline: None Treasury attorney: Audrey Nacamuli (202) 622-5721 Reviewing attorney: Robert Miller (202) Abstract: This regulation provides 622-3630 guidance concerning mark-to-market CC:COR Treasury attorney: Julian Kim (202) accounting for securities traders and Agency Contact: Frances L. Kelly, 622-1981 commodities dealers and traders. Attorney–Advisor, Department of the Treasury, Internal Revenue Service, CC:PA:CBS Timetable: 1111 Constitution Avenue NW, Agency Contact: Kevin B. Connelly, Action Date FR Cite Washington, DC 20224 Attorney–Advisor, Department of the NPRM 01/28/99 64 FR 4374 Phone: 202 622–7770 Treasury, Internal Revenue Service, Final Action 12/00/04 Related RIN: Related to 1545–BA11 1111 Constitution Avenue NW, Regulatory Flexibility Analysis Washington, DC 20224 RIN: 1545–AW30 Required: No Phone: 202 622–3630 Small Entities Affected: No RIN: 1545–AV01 2701. CAPITAL GAIN GUIDANCE Government Levels Affected: None RELATING TO CRTS 2698. ELECTRONIC TRANSMISSION Additional Information: REG-104924-98 Priority: Substantive, Nonsignificant OF WITHHOLDING CERTIFICATES Drafting attorney: Stephen J. Coleman Legal Authority: 26 USC 7805; 26 USC Priority: Substantive, Nonsignificant (202) 622-6289 1; 26 USC 664 Legal Authority: 26 USC 7805; 26 USC Reviewing attorney: Elizabeth Handler CFR Citation: 26 CFR 1 (202) 622-6289 6061; 26 USC 1441 Legal Deadline: None CC:FI CFR Citation: 26 CFR 1 Abstract: The regulation provides Legal Deadline: None Agency Contact: Stephen J. Coleman, guidance relating to charitable Attorney–Advisor, Department of the Abstract: This regulation provides remainder trusts in light of the changes Treasury, Internal Revenue Service, made to section 1(h) of the Internal guidance for the electronic transmission 1111 Constitution Avenue NW, of withholding certificates. Revenue Code by the Taxpayer Relief Washington, DC 20224 Act of 1997, the Internal Revenue Timetable: Phone: 202 622–6289 Service Restructuring and Reform Act Action Date FR Cite RIN: 1545–AW06 of 1998, and the Jobs and Growth Tax Relief Reconciliation Act of 2003. NPRM 10/14/97 62 FR 53504 Final Action 12/00/04 2700. INTERCOMPANY OBLIGATIONS Timetable: Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant Action Date FR Cite Required: No Legal Authority: 26 USC 1502; 26 USC NPRM 11/20/03 68 FR 65419 Small Entities Affected: No 7805 Final Action 12/00/04 Government Levels Affected: None CFR Citation: 26 CFR 1 Regulatory Flexibility Analysis Required: Additional Information: REG-107872-97 Legal Deadline: None No Drafting attorney: Carl M. Cooper (202) Abstract: The regulation provides Small Entities Affected: No 622-3840 clarification of the tax treatment of Government Levels Affected: None

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TREAS—IRS Final Rule Stage

Additional Information: REG-110896-98 2703. HIGHWAY VEHICLE— Small Entities Affected: No DEFINITION Drafting attorney: Theresa M. Government Levels Affected: None Melchiorre (202) 622-7830 Priority: Substantive, Nonsignificant Additional Information: REG-103823-99 Legal Authority: Reviewing attorney: Katherine A. 26 USC 7805; 26 USC Drafting attorney: Bernard P. Harvey, III Mellody (202) 622-3090 4051 (202) 622-3110 CFR Citation: Treasury attorney: Catherine Hughes 26 CFR 48 Reviewing attorney: Charles B. Ramsey (202) 622-9407 Legal Deadline: None (202) 622-3110 CC:PSI Abstract: This regulation provides Treasury attorney: George Manousos Agency Contact: Theresa M. amendments to regulations relating to (202) 622-0865 Melchiorre, Attorney–Advisor, definition of a highway vehicle. CC:PSI Department of the Treasury, Internal Timetable: Agency Contact: Revenue Service, 1111 Constitution Bernard P. Harvey III, Avenue NW, Washington, DC 20224 Action Date FR Cite Attorney–Advisor, Department of the Phone: 202 622–7830 NPRM 06/06/02 67 FR 38913 Treasury, Internal Revenue Service, Public Hearing 02/27/03 1111 Constitution Avenue NW, RIN: 1545–AW35 Final Action 06/00/05 Washington, DC 20224 Phone: 202 622–3110 Regulatory Flexibility Analysis 2702. REPORTING OF PAYMENTS TO Required: No RIN: 1545–AX12 ATTORNEY Small Entities Affected: No Priority: Substantive, Nonsignificant 2705. CASH OR DEFERRED Government Levels Affected: None Unfunded Mandates: Undetermined ARRANGEMENTS Additional Information: REG-103829-99 Legal Authority: 26 USC 6045 Priority: Substantive, Nonsignificant Drafting attorney: Theodore N. Legal Authority: 26 USC 7805 CFR Citation: 26 CFR 1 Margopulos (202) 622-3130 CFR Citation: 26 CFR 1 Legal Deadline: None Reviewing attorneys: Frank Boland Legal Deadline: None Abstract: The regulation provides (202) 622-3130 and Phillip Howard information reporting requirements for (202) 622-3000 Abstract: This regulation updates and payments of gross proceeds made in the Treasury attorney: John Parcell (202) revises regulations on qualified cash or course of a trade or business to 622-2578 deferred arrangements, matching attorneys in connection with legal contributions, and employee services. CC:PSI contributions. Agency Contact: Timetable: Theodore N. Timetable: Margopulos, Attorney–Advisor, Action Date FR Cite Department of the Treasury, Internal Action Date FR Cite NPRM 05/21/99 64 FR 27730 Revenue Service, 1111 Constitution NPRM 07/17/03 68 FR 42476 Second NPRM 05/17/02 67 FR 35064 Avenue NW, Washington, DC 20224 Final Action 12/00/04 Phone: 202 622–3130 Final Action 12/00/04 Regulatory Flexibility Analysis Regulatory Flexibility Analysis RIN: 1545–AX10 Required: No Required: No Small Entities Affected: Businesses 2704. GUIDANCE ON COST Small Entities Affected: No Government Levels Affected: None RECOVERY IN THE ENTERTAINMENT Government Levels Affected: None INDUSTRY Additional Information: REG-108639-99 Additional Information: REG-126024-01 Priority: Substantive, Nonsignificant Drafting attorney: R. Lisa Mojiri-Azad (202) 622-6060 Drafting attorney: Nancy L. Rose (202) Legal Authority: 26 USC 7805 622-4910 Reviewing attorney: Marjorie Hoffman CFR Citation: 26 CFR 1 Reviewing attorney: James C. Gibbons (202) 622-6000 Legal Deadline: (202) 622-4910 None Treasury attorney: W. Thomas Reeder Treasury attorney: Eric San Juan (202) Abstract: This regulation relates to the (202) 622-1341 622-0224 application of the income forecast CC:TEGE method under section 167(g) of the CC:PA:APJ Internal Revenue Code. Agency Contact: R. Lisa Mojiri–Azad, Senior Attorney, Department of the Agency Contact: Nancy L. Rose, Timetable: Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Treasury, Internal Revenue Service, Action Date FR Cite 1111 Constitution Avenue NW, 1111 Constitution Avenue NW, NPRM 05/31/02 67 FR 38025 Washington, DC 20224 Washington, DC 20224 Final Action 06/00/05 Phone: 202 622–6060 Phone: 202 622–4910 Regulatory Flexibility Analysis Related RIN: Related to 1545–AX43 RIN: 1545–AW72 Required: No RIN: 1545–AX26

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TREAS—IRS Final Rule Stage

2706. 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 CFR Citation: 26 CFR 1 2709. CAPITALIZATION OF INTEREST Small Entities Affected: No AND CARRYING CHARGES Legal Deadline: None Government Levels Affected: None PROPERLY ALLOCABLE TO Abstract: This regulation provides Additional Information: REG-117608-99 STRADDLES guidance with respect to how earnings Priority: Substantive, Nonsignificant and profits and foreign income tax Drafting attorney: David F. Bergkuist accounts carry over under section 381 (202) 622-3850 Legal Authority: 26 USC 7805; 26 USC and are allocated under section 312 in Reviewing attorney: Anne O. Devereaux 263; 26 USC 1092 certain transactions described in (202) 622-3850 CFR Citation: 26 CFR 1 section 367(b) of the Internal Revenue CC:INTL Legal Deadline: None Code. Agency Contact: David F. Bergkuist, Abstract: These regulations will clarify Timetable: Attorney–Advisor, Department of the the types of payments that may be Action Date FR Cite Treasury, Internal Revenue Service, ‘‘interest’’ or ‘‘carrying charges’’ subject 1111 Constitution Avenue NW, NPRM 11/15/00 65 FR 69138 to 26 U.S.C. 263(g), clarify the Washington, DC 20224 Final Action 12/00/04 operation of the capitalization rules of Phone: 202 622–3850 26 U.S.C. 263(g), and also clarify what Regulatory Flexibility Analysis RIN: 1545–AX72 constitutes ‘‘positions’’ and ‘‘losses’’ Required: No subject to 26 U.S.C. 1092. Small Entities Affected: No 2708. HIPAA PORTABILITY Timetable: Government Levels Affected: None Priority: Substantive, Nonsignificant Action Date FR Cite Additional Information: REG-116050-99 Legal Authority: 26 USC 7805; 26 USC NPRM 01/18/01 66 FR 4746 Drafting attorney: Mark R. Pollard (202) 9833 NPRM Comment 05/01/01 622-3850 Period End CFR Citation: 26 CFR 54 Final Action 12/00/04 Reviewing attorney: Anne Devereaux Legal Deadline: None (202) 622-3850 Regulatory Flexibility Analysis Abstract: These regulations provide Required: No Treasury attorney: Michael Caballero guidance to group health plans Small Entities Affected: No (202) 622-0851 regarding the limitations on imposing CC:INTL pre-existing condition exclusions and Government Levels Affected: None Agency Contact: Mark R. Pollard, the special enrollment rules. These Additional Information: REG-105801-00 Attorney–Advisor, Department of the regulations also provide guidance Drafting attorney: Mary Brewer (202) Treasury, Internal Revenue Service, regarding plans and benefits that are 622-3950 not subject to these rules. 1111 Constitution Avenue NW, Reviewing attorney: Christina Morrison Timetable: Washington, DC 20224 (202) 622-3950 Phone: 202 622–3850 Action Date FR Cite Treasury attorney: Mike Novey (202) RIN: 1545–AX65 NPRM 04/08/97 62 FR 16977 622-1339 Final Action 12/00/04 CC:FI 2707. ALLOCATION AND Regulatory Flexibility Analysis Agency Contact: Mary Brewer, APPORTIONMENT OF INTEREST Required: No EXPENSE AND CERTAIN OTHER Attorney–Advisor, Department of the Small Entities Affected: EXPENSES No Treasury, Internal Revenue Service, Government Levels Affected: None 1111 Constitution Avenue NW, Priority: Substantive, Nonsignificant Washington, DC 20224 Additional Information: REG-119828-99 Legal Authority: 26 USC 7805; 26 USC Phone: 202 622–3950 864 Drafting attorney: Russell Weinheimer RIN: 1545–AX92 (202) 622-6080 CFR Citation: 26 CFR 1 Reviewing attorney: Alan Tawshunsky Legal Deadline: None (202) 622-6000 2710. ASSUMPTION OF PARTNERSHIP LIABILITIES Abstract: These regulations provide Treasury attorney: Kevin Knopf (202) rules for the allocation and 622-2329 Priority: Substantive, Nonsignificant apportionment of interest expenses and Unfunded Mandates: Undetermined certain other expenses for purposes of CC:TEGE the foreign tax credit and certain other Agency Contact: Russell Weinheimer, Legal Authority: 26 USC 752 international tax provisions. Attorney–Advisor, Department of the CFR Citation: 26 CFR 1

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TREAS—IRS Final Rule Stage

Legal Deadline: None Government Levels Affected: None 2713. HIPAA NONDISCRIMINATION Abstract: This regulation prevents the Additional Information: REG-107279-00 EXCEPTION FOR CHURCH PLANS acceleration or duplication of losses Drafting attorney: Victoria J. Driscoll Priority: Substantive, Nonsignificant through the assumption of liabilities in (202) 622-4920 Legal Authority: 26 USC 7805; 26 USC transactions involving partnerships. Reviewing attorney: Robert A. 7853 Timetable: Berkovsky (202) 622-4920 CFR Citation: 26 CFR 1 Action Date FR Cite CC:PA: ITA Legal Deadline: None NPRM 06/24/03 68 FR 37434 Agency Contact: Victoria J. Driscoll, Abstract: These regulations provide Final Action 12/00/04 Attorney–Advisor, Department of the guidance on the exception for certain Treasury, Internal Revenue Service, Regulatory Flexibility Analysis grandfathered church plans from the Required: No 1111 Constitution Avenue NW, Washington, DC 20224 general rule requiring group health Small Entities Affected: No Phone: 202 622–4920 plans not to discriminate in rules for eligibility on the basis of any health Government Levels Affected: Fax: 2026226853 factor. Undetermined RIN: 1545–AY18 Timetable: Federalism: Undetermined Additional Information: REG-106736-00 2712. HIPAA GENERAL Action Date FR Cite Drafting attorney: Laura Nash (202) NONDISCRIMINATION NPRM 01/10/01 66 FR 1437 622-3050 Priority: Substantive, Nonsignificant Final Action 06/00/05 Reviewing attorney: Dianna Miosi (202) Legal Authority: 26 USC 7805; 26 USC Regulatory Flexibility Analysis 622-3050 9833 Required: No Treasury attorney: Deborah Harrington CFR Citation: 26 CFR 54 Small Entities Affected: No (202) 622-1788 Legal Deadline: None Government Levels Affected: None CC:PSI Abstract: These regulations provide Additional Information: REG-114083-00 guidance regarding the requirements Agency Contact: Laura C. Nash, Drafting attorney: Russell Weinheimer imposed on group health plans not to Attorney–Advisor, Department of the (202) 622-6080 Treasury, Internal Revenue Service, discriminate in rules for eligibility 1111 Constitution Avenue NW, under the plan on the basis of any Reviewing attorney: Alan Tawnshunsky Washington, DC 20224 health factor, and not to require any (202) 622-6000 Phone: 202 622–3050 individual to pay a higher premium or Treasury attorney: Kevin Knopf (202) contribution for coverage under the 622-2329 Related RIN: Related to 1545–BB83 plan than any similarly situated RIN: 1545–AX93 individual based on any health factor. CC:TEGE Timetable: Agency Contact: Russell Weinheimer, Attorney–Advisor, Department of the 2711. AUTHORIZED PLACEMENT Action Date FR Cite AGENCY Treasury, Internal Revenue Service, NPRM 01/08/01 66 FR 1435 1111 Constitution Avenue NW, Priority: Substantive, Nonsignificant Final Action 06/00/05 Washington, DC 20224 Legal Authority: 26 USC 152 Regulatory Flexibility Analysis Phone: 202 622–6080 CFR Citation: 26 CFR 1 Required: No RIN: 1545–AY33 Legal Deadline: None Small Entities Affected: No Abstract: This regulation amends the Government Levels Affected: None 2714. HIPAA NONDISCRIMINATION definition of ‘‘authorized placement Additional Information: REG-114082-00 EXCEPTION FOR BONA FIDE WELLNESS PROGRAMS agency’’ (for purposes of determining Drafting attorney: Russell Weinheimer whether a child placed for legal (202) 622-6080 Priority: Substantive, Nonsignificant adoption in a taxpayer’s home is a dependent of the taxpayer) to include Reviewing attorney: Alan Tawshunsky Legal Authority: 26 USC 7805; 26 USC biological parents and other persons (202) 622-6000 9833 authorized by State law to place Treasury attorney: Kevin Knopf (202) CFR Citation: 26 CFR 1 children for legal adoption. 622-2329 Legal Deadline: None Timetable: CC:TEGE Abstract: These regulations provide Action Date FR Cite Agency Contact: Russell Weinheimer, guidance regarding the exception for Attorney–Advisor, Department of the NPRM 11/30/00 65 FR 71277 certain wellness programs to the Treasury, Internal Revenue Service, Final Action 12/00/04 general rule imposed on group health 1111 Constitution Avenue NW, plans not to require a higher premium Regulatory Flexibility Analysis Washington, DC 20224 or contribution from an individual than Required: No Phone: 202 622–6080 from a similarly situated individual Small Entities Affected: No RIN: 1545–AY32 based on any health factor.

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TREAS—IRS Final Rule Stage

Timetable: Agency Contact: Joseph P. Dewald, CFR Citation: 26 CFR 1 Action Date FR Cite Attorney–Advisor, Department of the Legal Deadline: None Treasury, Internal Revenue Service, NPRM 01/08/01 66 FR 1421 1111 Constitution Avenue NW, Abstract: This regulation provides Final Action 06/00/05 Washington, DC 20224 guidance on section 355(e) of the Internal Revenue Code. Section 355(e) Regulatory Flexibility Analysis Phone: 202 622–4910 provides that a distributing corporation Required: No RIN: 1545–AY35 will recognize gain on the distribution Small Entities Affected: No of stock of a controlled corporation if Government Levels Affected: None 2716. ALLOCATION OF INCOME AND 50 percent or more of the stock of the DEDUCTIONS FROM INTANGIBLES distributing corporation or controlled Additional Information: REG-114084-00 corporation is acquired pursuant to a Priority: Substantive, Nonsignificant Drafting attorney: Russell Weinheimer plan that includes the distribution. Legal Authority: 26 USC 7805; 26 USC (202) 622-6080 Timetable: 482 Reviewing attorney: Alan Tawnshunsky Action Date FR Cite (202) 622-6080 CFR Citation: 26 CFR 1 Legal Deadline: None NPRM 04/26/02 67 FR 20711 Treasury attorney: Kevin Knopf (202) Final Action 12/00/04 622-2329 Abstract: These final regulations will address certain transactions between Regulatory Flexibility Analysis CC:TEGE controlled parties that involve Required: No Agency Contact: Russell Weinheimer, intangibles. The regulations will Small Entities Affected: No Attorney–Advisor, Department of the provide rules for allocation of income Government Levels Affected: None Treasury, Internal Revenue Service, and deductions with respect to 1111 Constitution Avenue NW, intangibles pursuant to IRC 5482. Additional Information: REG-163892-01 Washington, DC 20224 Timetable: Drafting attorney: Amber R. Cook (202) Phone: 202 622–6080 622-7530 Action Date FR Cite RIN: 1545–AY34 Reviewing attorney: Stephen P. Fattman NPRM 09/10/03 68 FR 53448 (202) 622-7700 Final Action 06/00/05 2715. INFORMATION REPORTING ON Treasury attorney: Audrey Nacamuli Regulatory Flexibility Analysis CANCELLATION OF INDEBTEDNESS (202) 622-5721 Required: No CC:CORP:4 Priority: Substantive, Nonsignificant Small Entities Affected: No Unfunded Mandates: Undetermined On January 2, 2001, a notice of Government Levels Affected: None proposed rulemaking was published in Legal Authority: 26 USC 7805; 26 USC Federalism: Undetermined the Federal Register (REG-107566-00;66 6050 Additional Information: REG-115037-00 FR 66) under section 355(e) of the CFR Citation: 26 CFR 1 Internal Revenue Code of 1986. A Drafting attorneys: Thomas A. Vidano public hearing regarding those Legal Deadline: None (202) 435-5265; Helen Hong-George proposed regulations was held on May Abstract: This regulation relates to (202) 435-5220 15, 2001. On August 3, 2001, those information reporting on the Reviewing attorney: John M. Breen proposed regulations were published as cancellation of indebtedness. (202) 435-5265 temporary regulations in the Federal Timetable: Treasury attorney: David Ernick (202) Register (REG-107566-00; 66 FR 40590). 622-1754 This regulation withdrew the notice of Action Date FR Cite proposed rulemaking that was CC:INTL NPRM 06/13/02 67 FR 40629 published on January 2, 2001, and Public Hearing 10/08/02 Agency Contact: Thomas A. Vidano, provided new rules under section 355 Final Action 12/00/04 Attorney–Advisor, Department of the (e) of the Internal Revenue Code of Treasury, Internal Revenue Service, 1986 by cross-reference to temporary Regulatory Flexibility Analysis 1111 Constitution Avenue NW, regulations published in the same issue Required: No Washington, DC 20224 of the Federal Register. Phone: 202 435–5265 Small Entities Affected: No On January 2, 2001, a notice of Government Levels Affected: None RIN: 1545–AY38 proposed rulemaking was published in Additional Information: REG-107524-00 the Federal Register (REG-107566-00; 2717. GUIDANCE UNDER SECTION 66 FR 66) under section 355(e) of the Drafting attorney: Joseph P. Dewald 355(E); RECOGNITION OF GAIN ON Internal Revenue Code of 1986. A (202) 622-4910 CERTAIN DISTRIBUTIONS OF STOCK public hearing regarding those Reviewing attorney: Donna Welch (202) OR SECURITIES IN CONNECTION proposed regulations was held on May 622-4910 WITH AN ACQUISITION 15, 2001. On August 3, 2001, those proposed regulations were published as Treasury attorney: Michael Novey (202) Priority: Substantive, Nonsignificant temporary regulations in the Federal 622-1339 Legal Authority: 26 USC 7805; 26 USC Register (REG-107566-00; 66 FR 40590). CC:PA:APJ 355(e)(5) This regulation withdraws the notice of

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TREAS—IRS Final Rule Stage

proposed rulemaking that was 2719. TAX TREATMENT OF Reviewing attorney: Peter Friedman published on January 2, 2001, and CAFETERIA PLANS (202) 622-3110 provides new rules under section Priority: Substantive, Nonsignificant 355(e) of the Internal Revenue Code of Treasury attorney: John Parcell (202) 1986 by cross-reference to temporary Legal Authority: 26 USC 125 622-2578 regulations published in the same issue CFR Citation: 26 CFR 1 CC:PSI of the Federal Register. Legal Deadline: None Agency Contact: David Selig, Agency Contact: Amber R. Cook, Abstract: This regulation provides Attorney–Advisor, Department of the Attorney–Advisor, Department of the information about the tax treatment of Treasury, Internal Revenue Service, Treasury, Internal Revenue Service, cafeteria plans. 1111 Constitution Avenue NW, 1111 Constitution Avenue NW, Washington, DC 20224 Timetable: Washington, DC 20224 Phone: 202 622–3040 Phone: 202 622–7530 Action Date FR Cite RIN: 1545–AY75 Related RIN: Related to 1545–BA55 NPRM 01/10/01 66 FR 1923 RIN: 1545–AY42 Final Action 12/00/04 2721. NEW MARKET TAX CREDIT Regulatory Flexibility Analysis 2718. ELECTION—ASSET Required: No Priority: Substantive, Nonsignificant ACQUISITIONS OF INSURANCE Small Entities Affected: No Legal Authority: 26 USC 45D; 26 USC COMPANIES Government Levels Affected: Federal 7805 Priority: Substantive, Nonsignificant Additional Information: REG-209461-79 CFR Citation: 26 CFR 1 Legal Authority: 26 USC 197; 26 USC 338; 26 USC 7805 Drafting attorney: Shoshanna Tanner Legal Deadline: None (202) 622-6080 CFR Citation: 26 CFR 1 Abstract: These regulations relate to Reviewing attorney: Janet A. Laufer the new markets tax credit under Legal Deadline: None (202) 622-6090 section 45D, which was enacted by Abstract: The regulations prescribe the CC:TEGE section 121(a) of the Community manner in which the various provisions Renewal Tax Relief Act of 2000 (Pub. of subchapter L, chapter 1, subtitle A Agency Contact: Shoshanna Tanner, L. 106-554). of the Internal Revenue Code apply to Attorney–Advisor, Department of the asset acquisitions deemed to occur by Treasury, Internal Revenue Service, Timetable: reason of a section 338 election as well 1111 Constitution Avenue NW, Action Date FR Cite as to actual acquisitions of insurance Washington, DC 20224 company assets subject to section 1060. Phone: 202 622–6080 ANPRM 05/01/01 66 FR 21844 Timetable: RIN: 1545–AY67 NPRM 12/26/01 66 FR 66376 Public Hearing 03/14/02 Action Date FR Cite Final Action 12/00/04 2720. NORMALIZATION NPRM 03/08/02 67 FR 10640 Regulatory Flexibility Analysis Priority: Public Hearing 09/18/02 Substantive, Nonsignificant Required: No Final Action 12/00/04 Legal Authority: 26 USC 7805; 26 USC Regulatory Flexibility Analysis 167; 26 USC 168; 26 USC 46 Small Entities Affected: No Required: No CFR Citation: 26 CFR 1 Government Levels Affected: Undetermined Small Entities Affected: No Legal Deadline: None Government Levels Affected: None Abstract: These regulations relate to Additional Information: REG-119436-01 Additional Information: REG-118861-00 the sale or deregulation of generation Drafting attorney: Paul F. Handleman Drafting attorney: Mark Weiss (202) assets. (202) 622-3040 622-7790 Timetable: Reviewing attorney: Susan Reaman Reviewing attorney: Victor Penico (202) Action Date FR Cite (202) 622-3040 622-7750 NPRM 03/04/03 68 FR 10190 Treasury attorney: Steve Watson (202) Treasury attorney: Audrey Nacamuli Final Action 12/00/04 622-1322 (202) 622-0869 Regulatory Flexibility Analysis CC:PSI CC:COR Required: No Agency Contact: Agency Contact: Mark Weiss, Small Entities Affected: No Paul F. Handleman, Attorney–Advisor, Department of the Attorney–Advisor, Department of the Government Levels Affected: Treasury, Internal Revenue Service, Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Undetermined 1111 Constitution Avenue NW, Washington, DC 20224 Additional Information: REG-104385-01 Washington, DC 20224 Phone: 202 622–3040 Phone: 202 622–7790 Drafting attorney: David Selig (202) RIN: 1545–AY49 622-3040 RIN: 1545–AY87

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TREAS—IRS Final Rule Stage

2722. REDUCTIONS OF ACCRUALS Timetable: 2725. LOSS LIMITATION RULES AND ALLOCATIONS BECAUSE OF Action Date FR Cite Priority: Substantive, Nonsignificant INCREASED AGE NPRM 08/19/03 68 FR 49729 Legal Authority: 26 USC 7805; 26 USC Priority: Substantive, Nonsignificant Final Action 12/00/04 337(d) Legal Authority: 26 USC 7805; 26 USC Regulatory Flexibility Analysis CFR Citation: 26 CFR 1; 26 CFR 602 411 Required: No Legal Deadline: None CFR Citation: 26 CFR 1 Small Entities Affected: No Abstract: The regulation provides Legal Deadline: Final, Statutory, Government Levels Affected: None guidance on the treatment of certain February 1, 1988. Additional Information: REG-140378-01 losses recognized on sales of subsidiary Abstract: These regulations will stock by members of a consolidated Drafting attorney: Robin M. Ferguson group under section 337(d) and section prescribe rules regarding the (202) 622-3610 requirement that accruals and 1502 of the Internal Revenue Code. For Reviewing attorney: Alan Levine (202) allocations under qualified retirement related matters, see the proposed 622-3610 plans cannot be reduced because of the regulations published on March 12, attainment of any age. CC:PA:CBS 2002, at 67 FR 11070 regarding REG- 102740-02. Timetable: Agency Contact: Robin M. Ferguson, Attorney–Advisor, Department of the Timetable: Action Date FR Cite Treasury, Internal Revenue Service, Action Date FR Cite NPRM 12/11/02 67 FR 76123 1111 Constitution Avenue NW, NPRM 05/31/02 67 FR 38040 Hearing 04/09/03 Washington, DC 20224 Final Action 05/00/05 Final Action 12/00/04 Phone: 202 622–3610 Regulatory Flexibility Analysis Regulatory Flexibility Analysis RIN: 1545–BA22 Required: No Required: No Small Entities Affected: No Small Entities Affected: Businesses, 2724. AMENDMENT TO THE Organizations DEFINITION OF REFUNDING Government Levels Affected: None Government Levels Affected: None Priority: Substantive, Nonsignificant Additional Information: REG-123305-02 and REG-102740-02 Additional Information: REG-209500-86 Legal Authority: 26 USC 7805 Drafting attorney: Lola L. Johnson (202) CFR Citation: 26 CFR 1 Drafting attorney: Linda S.F. Marshall 622-7550 (202) 622-6090 Legal Deadline: None Reviewing attorney: Sean P. Duffley Reviewing attorney: Marjorie Hoffman Abstract: This regulation will amend (202) 622-7530 (202) 622-6090 the definition of a refunding issue applicable to tax-exempt bonds issued CC:COR Treasury attorney: Harlan Weller (202) by State and local governments. Agency Contact: Lola L. Johnson, 622-1001 Timetable: Attorney–Advisor, Department of the CC:TEGE Treasury, Internal Revenue Service, Action Date FR Cite 1111 Constitution Avenue NW, Agency Contact: Linda Marshall, Washington, DC 20224 Senior Counsel, Department of the NPRM 04/10/02 67 FR 17310 Phone: 202 622–7550 Treasury, Internal Revenue Service, Final Action 06/00/05 1111 Constitution Avenue NW, Regulatory Flexibility Analysis Related RIN: Related to 1545–BA51, Washington, DC 20224 Required: No Related to 1545–BA74 Phone: 202 622–8012 Small Entities Affected: No RIN: 1545–BA52 Related RIN: Related to 1545–BB79 Government Levels Affected: Local, RIN: 1545–BA10 State 2726. MODIFICATION OF CHECK THE Additional Information: REG-165706-01 BOX REGULATIONS 2723. PROPERTY EXEMPT FROM Drafting attorney: Michael P. Brewer Priority: Substantive, Nonsignificant LEVY (202) 622-3980 Legal Authority: 26 USC 7805 Priority: Substantive, Nonsignificant Reviewing attorney: Timothy L. Jones CFR Citation: 26 CFR 1; 26 CFR 301 (202) 622-3980 Legal Authority: 26 USC 6334 Legal Deadline: None CC:TEGE CFR Citation: 26 CFR 301 Abstract: The Modification of Check Agency Contact: Michael P. Brewer, the Box regulation will add a new Legal Deadline: None Attorney–Advisor, Department of the section to the 301.7701-2 regulations to Abstract: This regulation will describe Treasury, Internal Revenue Service, provide that in certain circumstances, the judicial procedures for approval of 1111 Constitution Avenue NW, namely in State law mergers and a principal residence seizure, pursuant Washington, DC 20224 conversions, a surviving disregarded to I.R.C. sections 6334(a)(13(B)(i) and Phone: 202 622–3980 entity will be regarded for purposes of 6334(e)(1). RIN: 1545–BA46 assessment and collection of prior year

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TREAS—IRS Final Rule Stage

tax liabilities of predecessor entities. Additional Information: REG-122379-02 2729. REDEMPTIONS TREATED AS Thus, following a transaction in which Drafting attorney: Brinton T. Warren DIVIDENDS a regarded entity is merged or (202) 622-7800 Priority: Substantive, Nonsignificant converted into a disregarded entity, the Commissioner will be able to exercise Reviewing attorney: Richard S. Unfunded Mandates: Undetermined collection and assessment authority Goldstein (202) 622-3400 Legal Authority: 26 USC 7805 against the disregarded entity for any Treasury attorney: Julian Kim (202) CFR Citation: 26 CFR 1 liabilities stemming from tax periods of 622-1981 Legal Deadline: None the regarded entity prior to the date of CC:PA:APJ the transaction. Abstract: This regulation under section Agency Contact: Brinton T. Warren, 302 of the Internal Revenue Code Timetable: Attorney–Advisor, Department of the (Code), permits basis of redeemed stock Action Date FR Cite Treasury, Internal Revenue Service, to be recovered by the redeemed 1111 Constitution Avenue NW, NPRM 04/01/04 69 FR 17117 shareholder. Regulations under section Washington, DC 20224 Final Action 12/00/04 304 of the Code reflect changes made Phone: 202 622–4940 Regulatory Flexibility Analysis by the Internal Revenue Service RIN: 1545–BA70 Required: No Restructuring and Reform Act of 1998, Taxpayer Relief Act of 1997, Tax Small Entities Affected: Businesses 2728. CARRYBACK OF Reform Act of 1986, Deficit Reduction Government Levels Affected: CONSOLIDATED NET OPERATING Act of 1984, and the Tax Equity and Undetermined LOSSES TO SEPARATE RETURN Fiscal Responsibility Act of 1982 to the Federalism: Undetermined YEARS statute. Regulations under section 304 also reference proposed regulations Additional Information: REG-106681-02 Priority: Substantive, Nonsignificant under section 302 as they relate to the Drafting attorney: James M. Gergurich Legal Authority: 26 USC 7805; 26 USC treatment of basis of redeemed stock in (202) 622-3070 1502 redemptions treated as dividends. Reviewing attorney: Jeanne Sullivan CFR Citation: 26 CFR 1 Timetable: (202) 622-3070 Legal Deadline: None Action Date FR Cite Treasury attorney: Stephanie Robinson Abstract: The regulation will NPRM 10/18/02 67 FR 64331 (202) 622-9858 harmonize the waiver election in Final Action 12/00/04 regulations section 1.1502-21(b)(3) with CC:PSI Regulatory Flexibility Analysis the amendments to IRC 172(b) with the Agency Contact: James M. Gergurich, Required: No Job Creation and Worker Assistance Act Attorney–Advisor, Department of the of 2002. Small Entities Affected: No Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Timetable: Government Levels Affected: None Washington, DC 20224 Action Date FR Cite Additional Information: REG-150313-01 Phone: 202 622–3070 NPRM 05/31/02 67 FR 38039 Drafting attorney: Aimee K. Meacham RIN: 1545–BA59 Final Action 12/00/04 (202) 622-7530 Regulatory Flexibility Analysis Reviewing attorney: Lewis K. Brickates 2727. CIRCULAR 230—TAX SHELTER Required: No (202) 622-7530 AMENDMENTS Small Entities Affected: No Treasury attorney: Audrey Nacamuli Priority: Substantive, Nonsignificant Government Levels Affected: None (202) 622-5721 Unfunded Mandates: Undetermined Additional Information: REG-122564-02 CC:COR Legal Authority: 31 USC 330 Drafting attorney: Theresa Kolish (202) Agency Contact: Aimee K. Meacham, CFR Citation: 31 CFR 10 622-7530 Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Legal Deadline: None Reviewing attorney: Lewis Brickates 1111 Constitution Avenue NW, Abstract: These regulations propose (202) 622-7530 Washington, DC 20224 amendments to the standards for tax Treasury attorney: Audrey Nacamuli Phone: 202 622–7530 opinions related to tax shelters. (202) 622-5721 RIN: 1545–BA80 Timetable: CC:COR Action Date FR Cite Agency Contact: Theresa M. Kolish, 2730. REPORTING REQUIREMENTS Attorney–Advisor, Department of the NPRM 12/30/03 68 FR 75186 FOR WIDELY HELD FIXED Treasury, Internal Revenue Service, INVESTMENT TRUSTS Final Action 12/00/04 1111 Constitution Avenue NW, Priority: Regulatory Flexibility Analysis Washington, DC 20224 Substantive, Nonsignificant Required: No Phone: 202 622–7530 Legal Authority: 26 USC 7805 Small Entities Affected: No Related RIN: Related to 1545–BA76 CFR Citation: 26 CFR 1 Government Levels Affected: None RIN: 1545–BA73 Legal Deadline: None

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TREAS—IRS Final Rule Stage

Abstract: The regulation relates to Drafting attorney: Alexandra K. Helou 2733. DESIGNATED IRS OFFICER OR reporting requirements for widely held (202) 622-3840 EMPLOYEE fixed investment trusts. Reviewing attorney: Valerie Mark Lippe Priority: Substantive, Nonsignificant Timetable: (202) 622-3840 Legal Authority: 26 USC 7802 Action Date FR Cite Treasury attorney: Andrew Froberg CFR Citation: 26 CFR 1; 26 CFR 301 (202) 622-1779 NPRM 06/20/02 67 FR 41892 Legal Deadline: None NPRM Comment 09/18/02 CC:INTL Abstract: This regulatory amendment Period End Agency Contact: Alexandra K. Helou, clarifies that chief counsel attorneys Final Action 12/00/04 Attorney–Advisor, Department of the can receive the designated authority to Treasury, Internal Revenue Service, Regulatory Flexibility Analysis take summoned testimony under oath. Required: No 1111 Constitution Avenue NW, 1111 Constitution Avenue NW, Washington, Timetable: Small Entities Affected: No DC 20224 Action Date FR Cite Government Levels Affected: None Phone: 202 622–3840 NPRM 09/10/02 67 FR 57354 Additional Information: REG-106871-00 RIN: 1545–BA86 Final Action 12/00/04 Drafting attorney: Faith Colson (202) Regulatory Flexibility Analysis 622-3060 2732. AGGREGATE COMPUTATION Required: No AND ALLOCATION OF RESEARCH Reviewing attorney: J. Thomas Hines Small Entities Affected: No (202) 622-3060 CREDIT Government Levels Affected: None Treasury attorney: Viva Hammer (202) Priority: Substantive, Nonsignificant 622-0869 Legal Authority: 26 USC 7805; 26 USC Additional Information: REG-134026-02 CC:PSI 41 Drafting attorney: Elizabeth D. Rawlins (202) 622-3600 Agency Contact: Faith Colson, CFR Citation: 26 CFR 1 Attorney–Advisor, Department of the Legal Deadline: None Reviewing attorney: Robert A. Miller (202) 622-3600 Treasury, Internal Revenue Service, Abstract: This regulation will provide 1111 Constitution Avenue NW, guidance on the proper method of Treasury attorney: Julian Kim (202) Washington, DC 20224 computing the research credit for a 622-1981 Phone: 202 622–3060 controlled group. In addition, this CC:PA:CBS Related RIN: regulation will provide guidance on the Related to 1545–AU15 Agency Contact: allocation of the research credit among Elizabeth D. Rawlins, RIN: 1545–BA83 members of a controlled group. Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Timetable: 2731. GUIDANCE ON REPORTING OF 1111 Constitution Avenue NW, DEPOSIT INTEREST PAID TO Action Date FR Cite Washington, DC 20224 Phone: 202 622–3600 NONRESIDENT ALIENS NPRM 07/29/03 68 FR 44499 Related RIN: Related to 1545–BA98 Priority: Substantive, Nonsignificant Final Action 12/00/04 Regulatory Flexibility Analysis RIN: 1545–BA89 Legal Authority: 26 USC 7805 Required: No CFR Citation: 26 CFR 1; 26 CFR 31 Small Entities Affected: No 2734. ALLOCATION OF FOREIGN TAX Legal Deadline: None Government Levels Affected: None CREDITS AMONG PARTNERS Abstract: This regulation will provide Additional Information: REG-133791-01 Priority: Substantive, Nonsignificant guidance on the reporting requirements for interest on deposits maintained at Drafting attorney: Nicole R. Cimino Legal Authority: 26 USC 704(6); 26 U.S. offices of certain financial (202) 622-3120 USC 703(b)(3); 26 USC 702(a)(b) institutions and paid to nonresident Reviewing attorney: Brenda M. Stewart CFR Citation: 26 CFR 1 aliens that are residents of certain (202) 622-3120 Legal Deadline: None specified countries. Treasury attorney: Sharon Kay (202) Abstract: The regulation will provide Timetable: 622-0865 guidance on how foreign tax Action Date FR Cite CC:PSI expenditures must be allocated to NPRM 08/02/02 67 FR 50386 Agency Contact: Nicole R. Cimino, partners under section 704(b). Hearing 12/05/02 67 FR 50386 Attorney–Advisor, Department of the Timetable: Treasury, Internal Revenue Service, Final Action 12/00/04 Action Date FR Cite 1111 Constitution Avenue NW, Regulatory Flexibility Analysis Washington, DC 20224 NPRM 04/21/04 69 FR 21454 Required: No Phone: 202 622–3120 Final Action 03/00/05 Small Entities Affected: No Related RIN: Related to 1545–AX05, Regulatory Flexibility Analysis Government Levels Affected: None Related to 1545–BD60 Required: No Additional Information: REG-133254-02 RIN: 1545–BA88 Small Entities Affected: No

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TREAS—IRS Final Rule Stage

Government Levels Affected: None 2736. TESTIMONY AUTHORIZATIONS Government Levels Affected: Additional Information: REG-139792-02 AND REQUESTS FOR IRS Undetermined INFORMATION Drafting attorney: Heather Faught (202) Additional Information: REG-141097-02 622-3060 Priority: Substantive, Nonsignificant. Drafting attorney: Cynthia A. McGreevy Major status under 5 USC 801 is (202) 622-3130 Reviewing attorney: Beverly M. Katz undetermined. (202) 622-3060 Reviewing attorneys: Frank Boland Unfunded Mandates: Undetermined Treasury attorney: Deborah Harrington (202) 622-3130 and Phillip Howard (202) 622-1788 Legal Authority: 26 USC 301 (202) 622-3000 CC:PSI CFR Citation: 26 CFR 301 Treasury attorney: John Parcell (202) 622-2578 Agency Contact: Heather L. Faught, Legal Deadline: None Attorney–Advisor, Department of the Abstract: This regulation will amend CC:PSI Treasury, Internal Revenue Service, existing regulations on testimony Agency Contact: Cynthia A. McGreevy, 1111 Constitution Avenue NW, authorizations and requests for IRS Attorney–Advisor, Department of the Washington, DC 20224 information. Treasury, Internal Revenue Service, Phone: 202 622–3060 Timetable: 1111 Constitution Avenue NW, Related RIN: Related to 1545–BD11 Washington, DC 20224 Action Date FR Cite RIN: 1545–BB11 Phone: 202 622–3130 NPRM 07/09/03 68 FR 40850 RIN: 1545–BB18 Final Action 12/00/04 2735. DISTRIBUTIONS OF PROPERTY Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant 2738. AUTHORIZATION FOR IRS TO Required: No CHARGE FEES FOR COPYING Legal Authority: 26 USC 1023; 26 USC Small Entities Affected: No EXEMPT ORGANIZATION RETURNS 1024; 26 USC 2032 Government Levels Affected: None Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 301; 26 CFR 20 Additional Information: REG-140930-02 Legal Authority: 26 USC 6104 Legal Deadline: None Drafting attorney: Scott E. Powers (202) CFR Citation: 26 CFR 301 Abstract: This regulation will clarify 622-4580 the language in regulations section Legal Deadline: None 301.9100-6T to remove confusion as to Reviewing attorney: David L. Fish (202) Abstract: The regulation provides whether relief for making an election 622-4590 authorization for Internal Revenue under regulations section 2032 is CC:PA:DPL Service to charge fees for copying available under sections 301.9100-1 and exempt organization returns. 301-9100-3. Agency Contact: Scott E. Powers, Attorney, Department of the Treasury, Timetable: Timetable: Internal Revenue Service, 1111 Action Date FR Cite Action Date FR Cite Constitution Avenue NW, Washington, DC 20024 NPRM 07/09/03 68 FR 40849 NPRM 12/24/03 68 FR 74534 Phone: 202 622–4580 Final Action 12/00/04 Public Hearing 04/19/04 69 FR 20840 Regulatory Flexibility Analysis Final Action 12/00/04 RIN: 1545–BB15 Required: No Regulatory Flexibility Analysis Small Entities Affected: No Required: No 2737. TOLL TELEPHONE SERVICE— Small Entities Affected: No DEFINITION Government Levels Affected: None Government Levels Affected: None Priority: Substantive, Nonsignificant Additional Information: REG-142538-02 Additional Information: REG-139845-02 Legal Authority: 26 USC 7805 Drafting attorney: Sarah Tate (202) 622- 4590 Drafting attorney: Theresa M. CFR Citation: 26 CFR 49 Reviewing attorney: Philip Lindenmuth Melchiorre (202) 622-7830 Legal Deadline: None (202) 622-4560 Reviewing attorney: Katherine A. Abstract: This regulation provides Treasury attorney: Eric San Juan (202) Mellody (202) 622-7830 amendments to regulations relating to 622-0224 Treasury attorney: Catherine Hughes the definition of toll telephone service. CC:PA:DPL (202) 622-9407 Timetable: CC:PSI Agency Contact: Sarah Tate, Action Date FR Cite Agency Contact: Theresa M. Attorney–Advisor, Department of the Melchiorre, Attorney–Advisor, NPRM 04/01/03 68 FR 15690 Treasury, Internal Revenue Service, Department of the Treasury, Internal Hearing 09/10/03 68 FR 35828 1111 Constitution Avenue NW, Revenue Service, 1111 Constitution Final Action 12/00/04 Washington, DC 20224 Avenue NW, Washington, DC 20224 Regulatory Flexibility Analysis Phone: 202 622–4590 Phone: 202 622–7830 Required: No Related RIN: Related to 1545–BB22 RIN: 1545–BB12 Small Entities Affected: No RIN: 1545–BB21

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TREAS—IRS Final Rule Stage

2739. DUPLICATIVE TAX BENEFITS 8809, Request for Extension of Time to Reviewing attorneys: John M. Breen Priority: Substantive, Nonsignificant File Information Returns. This will (202) 435-5265 enable filers of information returns to Treasury attorney: David Ernick (202) Legal Authority: 26 USC 7805; 26 USC request an extension of time to file 622-1754 1502 using an online version of the Form CFR Citation: 26 CFR 1 8809. CC:INTL Legal Deadline: None Timetable: Agency Contact: Thomas A. Vidano, Abstract: This regulation prevents a Action Date FR Cite Attorney–Advisor, Department of the consolidated group from deriving more Treasury, Internal Revenue Service, NPRM 06/11/03 68 FR 34875 1111 Constitution Avenue NW, than one tax benefit from a single Final Action 12/00/04 economic loss. A loss on a consolidated Washington, DC 20224 return, with respect to the sale of a Regulatory Flexibility Analysis Phone: 202 435–5265 Required: Undetermined subsidiary’s stock, will be suspended to RIN: 1545–BB31 the extent of duplication (i.e. the group Government Levels Affected: None retains the loss asset) as long as the Additional Information: REG-107618-02 subsidiary remains a member of the 2742. INVESTMENT ADJUSTMENT group. In addition, there is a basis Drafting attorney: Charles A. Hall (202) RULES AND WAIVER OF LOSS leveling rule, which prevents groups 622-4940 CARRYOVERS FROM SRLY YEARS— AMENDED from loading losses onto a single block Reviewing attorney: Judith Wall (202) of subsidiary stock and selling only that 622-4940 Priority: Substantive, Nonsignificant stock, while maintaining that subsidiary as part of the group. Treasury attorney: John Parcell (202) Legal Authority: 26 USC 7805; 26 USC 622-2578 1502 Timetable: CC:PA:APJ CFR Citation: Action Date FR Cite 26 CFR 1 Agency Contact: Charles A. Hall, Legal Deadline: None NPRM 03/14/03 68 FR 12324 Senior Counsel, Department of the Final Action 12/00/04 Treasury, Internal Revenue Service, Abstract: This regulation will allow a Regulatory Flexibility Analysis 1111 Constitution Avenue NW, group to revoke an election under Required: No Washington, DC 20224 regulations section 1.1502-32(b)(4), Phone: 202 622–4940 where such election has become Small Entities Affected: No RIN: 1545–BB29 unnecessary as a result of regulations Government Levels Affected: None section 1.1502-20T(i)(2). Additional Information: REG-131478-02 2741. TREATMENT OF SERVICES Timetable: Drafting attorney: Aimee K. Meacham UNDER SECTION 482 Action Date FR Cite (202) 622-7530 Priority: Substantive, Nonsignificant NPRM 05/07/03 68 FR 24404 Reviewing attorney: Sean P. Duffley Final Action 06/00/05 (202) 622-7530 Legal Authority: 26 USC 7805; 26 USC 482 Regulatory Flexibility Analysis CC:COR CFR Citation: 26 CFR 1 Required: No Agency Contact: Aimee K. Meacham, Small Entities Affected: Attorney–Advisor, Department of the Legal Deadline: None No Treasury, Internal Revenue Service, Abstract: These final regulations Government Levels Affected: None 1111 Constitution Avenue NW, amend the rules for allocation of Additional Information: REG-152524-02 Washington, DC 20224 income and deductions with respect to Phone: 202 622–7530 serices between members of a group of Drafting attorney: Jeffrey B. Fienberg Related RIN: Related to 1545–BB95 controlled entities, pursuant to section (202) 622-7700 482. RIN: 1545–BB25 Reviewing attorney: Alison G. Burns Timetable: (202) 622-7550 2740. EXTENSION OF TIME FOR Action Date FR Cite Treasury attorney: Audrey Nacamuli FILING RETURNS NPRM 09/10/03 68 FR 53448 (202) 622-5721 Priority: Substantive, Nonsignificant Final Action 06/00/05 CC:COR Regulatory Flexibility Analysis Legal Authority: 26 USC 6081 Agency Contact: Jeffrey B. Fienberg, Required: No CFR Citation: 26 CFR 1; 26 CFR 25; Attorney–Advisor, Department of the 26 CFR 31; 26 CFR 53; 26 CFR 55; 26 Small Entities Affected: No Treasury, Internal Revenue Service, CFR 156; . . . Government Levels Affected: None 1111 Constitution Avenue NW, Washington, DC 20224 Legal Deadline: None Additional Information: REG-146893-02 Phone: 202 622–7770 Abstract: This regulation will amend Drafting attorneys: Thomas A. Vidano Related RIN: Related to 1545–BB39 the section 6081 regulations to remove (202) 435-5265 and Helen Hong-George the signature requirement for Form (202) 435-5220 RIN: 1545–BB38

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TREAS—IRS Final Rule Stage

2743. LIMITATION ON USE OF Phone: 202 622–4970 Timetable: NONACCRUAL EXPERIENCE METHOD RIN: Action Date FR Cite OF ACCOUNTING 1545–BB43 NPRM 09/08/03 68 FR 53008 Priority: Substantive, Nonsignificant 2744. ELECTION OUT Final Action 02/00/05 Legal Authority: 26 USC 403 GENERATION–SKIPPING TRANSFER Regulatory Flexibility Analysis CFR Citation: 26 CFR 1 TAX (GST) DEEMED ALLOCATIONS Required: No Legal Deadline: None Priority: Info./Admin./Other Small Entities Affected: No Abstract: Under section 448(d)(5), as Legal Authority: 26 USC 2601; 26 USC Government Levels Affected: None amended by the Job Creation and 2632; 26 USC 2642 Additional Information: REG-157164-02 Worker Assistance Act of 2002, the nonaccrual experience method of CFR Citation: 26 CFR 601 Drafting attorney: Douglas Kim (202) 622-3110 accounting is available only for Legal Deadline: None amounts to be received for the Reviewing attorney: Kathleen Reed performance of qualified services (i.e., Abstract: Procedure for making the (202) 622-3110 services in the fields of health, law, election to not have the deemed Treasury attorney: George Manuso (202) engineering, architecture, accounting, generation-skipping transfer tax 622-1335 actuarial science, performing arts, or allocation rules apply with respect to consulting) or for services provided by a GST Trust and for making the CC:PSI certain small businesses (i.e., those election to treat a trust as a GST Trust. Agency Contact: Douglas Kim, with gross receipts of $5 million or Timetable: Attorney–Advisor, Department of the less). The law provides that such Treasury, Internal Revenue Service, taxpayers are not required to accrue, Action Date FR Cite 1111 Constitution Avenue NW, based on their experience, any portion NPRM 07/13/04 69 FR 42000 Washington, DC 20224 of year-end receivables that will not be Final Action 06/00/05 Phone: 202 622–3110 collected. Under the proposed Related RIN: Related to 1545–BC19 regulations, taxpayers will be permitted Regulatory Flexibility Analysis RIN: 1545–BB57 to determine such amounts using Required: No alternative computations or formulas Small Entities Affected: No which, based on experience, accurately 2746. INFORMATION REPORTING reflect the amount of income that will Government Levels Affected: None RELATING TO TAXABLE STOCK not be collected by such taxpayer. The Additional Information: REG-153841-02 TRANSACTIONS proposed regulations will provide safe Priority: Substantive, Nonsignificant harbor methods (computations or Drafting attorney: Mayer Samuels (202) formulas) of estimating such amounts 622-7265 Legal Authority: 26 USC 6043; 26 USC 6045 that the taxpayers can rely on. Reviewing attorney: George Masnik Timetable: (202) 622-3618 CFR Citation: 26 CFR 1 Legal Deadline: Action Date FR Cite Treasury attorney: Catherine Hughes None Abstract: These regulations under NPRM 11/21/03 68 FR 65645 (202) 622-9407 sections 6043(c) and 6045 require Final Action 12/00/04 CC:PSI information reporting for corporate Regulatory Flexibility Analysis Agency Contact: Mayer Samuels, acquisitions of control and changes in Required: No Attorney, Department of the Treasury, capital structure. Small Entities Affected: Businesses Internal Revenue Service, 1111 Timetable: Government Levels Affected: None Constitution Avenue NW, Washington, DC 20024 Action Date FR Cite Additional Information: REG-141402-02 Phone: 202 622–7265 NPRM 11/18/02 67 FR 69496 Final Action 12/00/04 Drafting attorney: Terrance McWhorter RIN: 1545–BB54 (202) 622-4970 Regulatory Flexibility Analysis Reviewing attorney: Tom A. Luxner Required: No 2745. SPECIAL DEPRECIATION (202) 622-4970 ALLOWANCE Small Entities Affected: No CC:ITA Government Levels Affected: None Priority: Substantive, Nonsignificant We issued interim guidance in the form Additional Information: REG-143321-02 Legal Authority: 26 USC 7805 of a Notice 2003-12, 2003-6 published Drafting attorney: Nancy L. Rose (202) in the IRB 422 on January 22, 2003, CFR Citation: 26 CFR 1 622-4910 with a request for comments. Legal Deadline: None Reviewing attorney: Pamela W. Fuller Agency Contact: Terrance McWhorter, (202) 622-4910 General Tax Attorney, Department of Abstract: This regulation provides the Treasury, Internal Revenue Service, guidance under sections 168 and CC:PA:APJ 1111 Constitution Avenue NW, 1400L(b) regarding special deprecations Agency Contact: Nancy L. Rose, Washington, DC 20224 allowance. Attorney–Advisor, Department of the

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TREAS—IRS Final Rule Stage

Treasury, Internal Revenue Service, 2748. USE OF GOVERNMENT Regulatory Flexibility Analysis 1111 Constitution Avenue NW, DEPOSITARIES IN CONNECTION Required: No Washington, DC 20224 WITH TAX UNDER THE FEDERAL Small Entities Affected: No Phone: 202 622–4910 UNEMPLOYMENT TAX ACT (TEMPORARY) Government Levels Affected: None Related RIN: Related to 1545–BB40 Priority: Substantive, Nonsignificant Additional Information: REG-163679-02 RIN: 1545–BB60 Legal Authority: 26 USC 7805; 26 USC Drafting attorney: Juli Ro Kim (202) 6302 622-3090 Reviewing attorney: George Masnik CFR Citation: 26 CFR 31 2747. USE OF GOVERNMENT (202) 622-3090 DEPOSITARIES IN CONNECTION Legal Deadline: None Treasury attorney: Catherine Hughes WITH TAX UNDER THE FEDERAL Abstract: The temporary regulations (202) 622-9407 UNEMPLOYMENT TAX ACT will raise the amount of accumulated CC:PSI Priority: Substantive, Nonsignificant Federal Unemployment Tax Act for taxes that a taxpayer may accumulate Agency Contact: Juli Ro Kim, Legal Authority: 26 USC 7805; 26 USC before required to deposit. Attorney–Advisor, Department of the 6302 Treasury, Internal Revenue Service, Timetable: 1111 Constitution Avenue NW, CFR Citation: 26 CFR 31 Action Date FR Cite Washington, DC 20224 Temporary 12/00/04 Phone: 202 622–3090 Legal Deadline: None Regulations RIN: 1545–BB72 Abstract: The regulations will raise the Regulatory Flexibility Analysis amount of accumulated Federal Required: Undetermined 2750. COLLECTED EXCISE TAXES; Unemployment Tax Act for taxes that Government Levels Affected: DUTIES OF COLLECTOR a taxpayer may accumulate before being Undetermined Priority: Substantive, Nonsignificant required to deposit. Additional Information: REG-144908-02 Legal Authority: 26 USC 4291; 26 USC Timetable: Drafting attorney: Heather L. Dostaler 6302; 26 USC 7805 Action Date FR Cite (202) 622-8445 CFR Citation: 26 CFR 40; 26 CFR 49 NPRM 07/17/03 68 FR 42329 Reviewing attorney: Brinton T. Warren Legal Deadline: None Final Action 12/00/04 (202) 622-4940 Abstract: These proposed regulations Treasury attorney: John Parcell (202) relate to the obligations of persons that Regulatory Flexibility Analysis 622-2578 receive payments for air transportation Required: No CC:PA:APJ or communications service subject to excise tax when persons liable for taxes Small Entities Affected: No Agency Contact: Heather L. Dostaler, refuse to pay the tax. Attorney–Advisor, Department of the Government Levels Affected: Timetable: Treasury, Internal Revenue Service, Undetermined 1111 Constitution Avenue NW, Action Date FR Cite Federalism: Undetermined Washington, DC 20224 NPRM 08/10/04 69 FR 48432 Phone: 202 622–4940 Final Action 03/00/05 Additional Information: REG-144908-02 Related RIN: Related to 1545–BB66 Regulatory Flexibility Analysis Drafting attorney: Heather L. Dostaler RIN: 1545–BB67 Required: No (202) 622-8445 Small Entities Affected: No Reviewing attorney: Brinton T. Warren 2749. QUALIFIED INTERESTS Government Levels Affected: None (202) 622-7134 Priority: Info./Admin./Other Additional Information: REG-163909-02 Treasury attorney: John Parcell (202) Legal Authority: 26 USC 2702 Drafting attorney: Taylor Cortright (202) 622-2578 CFR Citation: 26 CFR 25 622-3130 Legal Deadline: None Reviewing attorneys: Frank K. Boland CC:PA:APJ (202) 622-3130 and Phillip Howard Abstract: This regulation amends Agency Contact: Heather L. Dostaler, (202) 622-3000 examples 5 and 6 of regulation section Treasury attorney: John Parcell (202) Attorney–Advisor, Department of the 25.2702-3(e) to comply with the Tax 622-2578 Treasury, Internal Revenue Service, Court’s holding in Walton v. 1111 Constitution Avenue NW, Commissioner, 115 TC. 589 (2000). CC:PSI Washington, DC 20224 Timetable: Agency Contact: Taylor Cortright, Phone: 202 622–4940 Attorney, Department of the Treasury, Action Date FR Cite Related RIN: Related to 1545–BB67 Internal Revenue Service, 1111 NPRM 07/26/04 69 FR 44476 Constitution Avenue NW, Washington, RIN: 1545–BB66 Final Action 12/00/04 DC 20024

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TREAS—IRS Final Rule Stage

Phone: 202 622–3130 Timetable: Treasury attorney: Viva Hammer (202) Related RIN: Related to 1545–BB76 Action Date FR Cite 622-0869 RIN: 1545–BB75 NPRM 12/11/02 67 FR CC:FI 761213 Agency Contact: Hearing 04/09/03 Kathleen Sleeth, 2751. GUIDANCE ON LIFE Final Action 12/00/04 Attorney–Advisor, Department of the INSURANCE AND ANNUITY Treasury, Internal Revenue Service, CONTRACTS Regulatory Flexibility Analysis 1111 Constitution Avenue NW, Required: No Washington, DC 20224 Priority: Substantive, Nonsignificant Small Entities Affected: Businesses, Phone: 202 622–3920 Legal Authority: 26 USC 7805; 26 USC Organizations 817 RIN: 1545–BB82 Government Levels Affected: None CFR Citation: 26 CFR 1 Additional Information: REG-164464-02 2754. NEW MARKETS TAX CREDIT Legal Deadline: None Drafting attorney: Linda S.F. Marshall AMENDMENTS Abstract: The regulation modifies the (202) 622-6090 Priority: Substantive, Nonsignificant existing section under 26 U.S.C. 817(h) Reviewing attorney: Marjorie Hoffman relating to guidance on life insurance (202) 622-6090 Legal Authority: 26 USC 45D; 26 USC and annuity contracts. Treasury attorney: William Bortz (202) 7805 Timetable: 622-1352 CFR Citation: 26 CFR 1 Action Date FR Cite CC:TEGE Legal Deadline: None NPRM 07/30/03 68 FR 44689 Agency Contact: Linda Marshall, Final Action 12/00/04 Senior Counsel, Department of the Abstract: This regulation will amend Regulatory Flexibility Analysis Treasury, Internal Revenue Service, regulations section 1.45D-1T involving Required: No 1111 Constitution Avenue NW, the new markets tax credit under Washington, DC 20224 section 45D. The amendments will Small Entities Affected: No Phone: 202 622–8012 address certain issues involving qualified low-income community Government Levels Affected: None Related RIN: Related to 1545–BA10 investments under section 45D(d)(1). Additional Information: REG-163974-02 RIN: 1545–BB79 Drafting attorney: James Polfer (202) Timetable: 622-3970 2753. NOTIONAL PRINCIPAL Action Date FR Cite Reviewing attorney: Donald Drees, Jr. CONTRACTS; CONTINGENT NPRM 03/11/04 69 FR 11561 (202) 622-3970 NONPERIODIC PAYMENTS Public Hearing 06/02/04 CC:FI Priority: Substantive, Nonsignificant Final Action 12/00/04 Agency Contact: James Polfer, Legal Authority: 26 USC 446 Regulatory Flexibility Analysis Attorney–Advisor, Department of the CFR Citation: 26 CFR 1; 26 CFR 602 Required: No Treasury, Internal Revenue Service, Small Entities Affected: 1111 Constitution Avenue NW, Legal Deadline: None No Washington, DC 20224 Abstract: These regulations relate to Government Levels Affected: Phone: 202 622–3970 the character and the inclusion into Undetermined RIN: 1545–BB77 income and deduction of contingent nonperiodic payments made pursuant Additional Information: REG-115471-03 to a notional principal contract. Drafting attorney: Paul F. Handleman 2752. APPLICATION OF Timetable: (202) 622-3040 NONDISCRIMINATION CROSS–TESTING RULES TO CASH Action Date FR Cite Reviewing attorney: Susan Reaman BALANCE PLANS NPRM 02/26/04 69 FR 8886 (202) 622-3040 Priority: Substantive, Nonsignificant NPRM Comment 05/04/04 Period End Treasury attorney: Steve Watson (202) Legal Authority: 26 USC 7805; 26 USC Final Action 06/00/05 622-1322 411 Regulatory Flexibility Analysis CC:PSI CFR Citation: 26 CFR 1 Required: No Agency Contact: Paul F. Handleman, Legal Deadline: None Small Entities Affected: No Attorney–Advisor, Department of the Abstract: These regulations will Government Levels Affected: None Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, provide rules for the application of Additional Information: REG-166012-02 certain nondiscrimination Washington, DC 20224 requirements, prohibiting Drafting attorney: Kathleen Sleeth (202) Phone: 202 622–3040 622-3920 discrimination in favor of highly Related RIN: Related to 1545–BC02 compensated employees, to cash Reviewing attorney: Elizabeth Handler balance pension plans. (202) 622-3920 RIN: 1545–BC03

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TREAS—IRS Final Rule Stage

2755. TAX EXEMPT BOND 368, and certain transactions that Treasury attorney: John Parcell (202) PARTNERSHIP REPORTING qualify under both section 351 and 622-2578 REGULATION section 368. CC:PSI Priority: Substantive, Nonsignificant Timetable: Agency Contact: Celia A. Gabrysh, Legal Authority: 26 USC 6031; 26 USC Action Date FR Cite Attorney–Advisor, Department of the 7805; 26 USC 706 Final Action 12/00/04 Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, CFR Citation: 26 CFR 1 Regulatory Flexibility Analysis Washington, DC 20224 Legal Deadline: None Required: No Phone: 202 622–3130 Abstract: This regulation will provide Small Entities Affected: No RIN: 1545–BC08 the Internal Revenue Service with Government Levels Affected: None authority to issue guidance concerning Additional Information: REG-116564-03 2758. NOTARIZATION REQUIREMENT the reporting requirements for tax FOR STATEMENTS OF PURCHASE exempt bond partnerships. Drafting attorney: Theresa M. Kolish (202) 622-7530 or Emidio J. Forlini, Jr. Priority: Substantive, Nonsignificant Timetable: (202) 622-7930 Legal Authority: 26 USC 1042(a)(1); 26 Action Date FR Cite Reviewing attorney: Reginald Mombrun USC 7805 (202) 622-7277 NPRM 11/10/03 68 FR 63743 CFR Citation: 26 CFR 1 Final Action 12/00/04 Treasury attorney: Audrey Nacamuli Legal Deadline: None Regulatory Flexibility Analysis (202) 622-5721 Abstract: The regulations would Required: No CC:COR modify the requirement that statements Small Entities Affected: No Agency Contact: Theresa M. Kolish, of purchase of qualified replacement Attorney–Advisor, Department of the Government Levels Affected: None property be notarized within 30 days Treasury, Internal Revenue Service, of purchase. Additional Information: REG-115472-03 1111 Constitution Avenue NW, Timetable: Drafting attorney: David A. Shulman Washington, DC 20224 (202) 622-3080 Phone: 202 622–7530 Action Date FR Cite Reviewing attorney: Jeanne Sullivan NPRM 07/10/03 68 FR 41087 Emidio J. Forlini Jr., Attorney, Comment Period End 10/08/03 (202) 622-3080 Department of the Treasury, Internal Final Action 12/00/04 Revenue Service, 1111 Constitution Treasury attorney: Deborah Harrington Regulatory Flexibility Analysis (202) 622-1788 Avenue NW, Washington, DC 20224 Phone: 202 622–7930 Required: No CC:PSI RIN: 1545–BC05 Small Entities Affected: No Agency Contact: David A. Shulman, Government Levels Affected: None Attorney–Advisor, Department of the Treasury, Internal Revenue Service, 2757. ENTRY OF TAXABLE FUEL Additional Information: REG-121122-03 1111 Constitution Avenue NW, Priority: Substantive, Nonsignificant Drafting attorney: John T. Ricotta (202) 622-6060 Washington, DC 20224 Legal Authority: 26 USC 7805 Phone: 202 622–3080 Reviewing attorney: Robert Patchell CFR Citation: 26 CFR 1 Related RIN: Related to 1545–BC01 (202) 622-6060 Legal Deadline: None RIN: 1545–BC04 CC:TEGE Abstract: The regulations will provide Agency Contact: John T. Ricotta, rules for payment of tax when taxable Attorney–Advisor, Department of the 2756. DETERMINATION OF BASIS OF fuel is entered by an unregistered Treasury, Internal Revenue Service, OR SECURITIES RECEIVED IN person. 1111 Constitution Avenue NW, EXCHANGE OR WITH RESPECT TO, A Timetable: STOCK OR SECURITIES IN CERTAIN Washington, DC 20224 TRANSACTIONS Action Date FR Cite Phone: 202 622–6060 RIN: 1545–BC11 Priority: Routine and Frequent Final Action 03/00/05 Legal Authority: 26 USC 358; 26 USC Regulatory Flexibility Analysis 7805 Required: No 2759. TIMING AND MODIFICATION OF Small Entities Affected: No THE SECTION 59(E) ELECTION CFR Citation: 26 CFR 1 Government Levels Affected: None Priority: Substantive, Nonsignificant Legal Deadline: None Additional Information: REG-120616-03 Legal Authority: 26 USC 59 Abstract: Amendment to section 1.358- CFR Citation: 26 CFR 1 2 of the income tax regulation. The Drafting attorney: Celia Gabrysh (202) proposed regulation adopts a tracing 622-3130 Legal Deadline: None approach in determining the basis of Reviewing attorneys: Frank Boland Abstract: The regulation will provide stock and securites received in (202) 622-3130 and Phillip Howard guidance on making a section 59(e) transactions under section 355, section (202) 622-3000 election.

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TREAS—IRS Final Rule Stage

Timetable: Treasury, Internal Revenue Service, CFR Citation: 26 CFR 1 Action Date FR Cite 1111 Constitution Avenue NW, Legal Deadline: None Washington, DC 20224 NPRM 07/21/04 69 FR 43367 Phone: 202 622–4910 Abstract: This regulation provides Final Action 12/00/04 guidance under section 446(e) regarding RIN: 1545–BC15 Regulatory Flexibility Analysis changes in computing depreciation or Required: No amortization. 2761. CONTINGENT AT CLOSING Timetable: Small Entities Affected: No ESCROWS Action Date FR Cite Government Levels Affected: None Priority: Substantive, Nonsignificant NPRM 01/02/04 69 FR 42 Additional Information: REG-124405-03 Legal Authority: 26 USC 7805; 26 USC Final Action 12/00/04 Drafting attorney: Eric B. Lee (202) 622- 468 Regulatory Flexibility Analysis 3120 CFR Citation: 26 CFR 1; 26 CFR 602 Required: No Reviewing attorney: Joe Makurath (202) Legal Deadline: None 622-3120 Small Entities Affected: No Abstract: The regulations will provide Treasury attorney: George Manousos rules for taxing the income of a Government Levels Affected: (202) 622-1788 contingent at closing escrow. A Undetermined CC:PSI contingent at closing escrow is, Additional Information: REG-126459-03 generally, established in connection Agency Contact: Drafting attorney: Sara L. Logan (202) Eric B. Lee, with the sale or exchange of real or 622-3110 Attorney–Advisor, Department of the personal property to hold assets that Treasury, Internal Revenue Service, will be distributable to the purchaser Reviewing attorney: Kathleen Reed 1111 Constitution Avenue NW, or seller based on the post-closing (202) 622-3110 Washington, DC 20224 resolution of bona fide contingencies. Phone: 202 622–3120 Treasury attorney: George Manousos The rules will require the purchaser or (202) 622-1335 RIN: 1545–BC13 seller to take into account all items of income and deduction for Federal CC:PSI 2760. GUIDANCE NECESSARY TO income tax purposes. Agency Contact: Sara L. Logan, FACILITATE BUSINESS ELECTRONIC Timetable: Attorney–Advisor, Department of the FILING Treasury, Internal Revenue Service, Action Date FR Cite 1111 Constitution Avenue NW, Priority: Substantive, Nonsignificant NPRM 02/01/99 64 FR 4801 Washington, DC 20224 Legal Authority: 26 USC 7805 Final Action 12/00/04 Phone: 202 622–3110 CFR Citation: 26 CFR 1; 26 CFR 602 Regulatory Flexibility Analysis Related RIN: Related to 1545–BC17 Required: No Legal Deadline: None RIN: 1545–BC18 Small Entities Affected: No Abstract: The regulatory amendments are designed to facilitate electronic Government Levels Affected: None 2763. VALUE OF LIFE INSURANCE filing of certain income tax returns and Additional Information: REG-103422-03 WHEN DISTRIBUTED FROM A other forms. Drafting attorney: Richard Shevak (202) QUALIFIED RETIREMENT PLAN Timetable: 622-8142 Priority: Substantive, Nonsignificant Action Date FR Cite Reviewing attorney: Jeff Mitchell (202) Legal Authority: 26 USC 1 622-7934 NPRM 12/19/03 68 FR 70747 CFR Citation: 26 CFR 1 Final Action 12/00/04 Treasury attorney: Deborah Harrington (202) 622-1788 Legal Deadline: None Regulatory Flexibility Analysis Abstract: These proposed regulations Required: No CC:ITA:7 under section 402(a) of the Internal Agency Contact: Small Entities Affected: No Richard Shevak, Revenue Code concern the amount Attorney–Advisor, Department of the Government Levels Affected: Federal includible in a distributee’s income Treasury, Internal Revenue Service, when certain life insurance and annuity Additional Information: REG-116664-01 1111 Constitution Avenue NW, contracts are distributed by a qualified Drafting attorney: Nathan B. Rosen Washington, DC 20224 retirement plan. Phone: 202 622–8142 (202) 622-4910 Timetable: Reviewing attorney: Pamela Fuller (202) Related RIN: Related to 1545–AR82 Action Date FR Cite 622-4910 RIN: 1545–BC16 Final Action 12/00/04 Treasury attorney: John Parcell (202) 622-2578 2762. CHANGES IN COMPUTING Regulatory Flexibility Analysis Required: CC:PA:APJ DEPRECIATION No Agency Contact: Nathan B. Rosen, Priority: Substantive, Nonsignificant Small Entities Affected: No Attorney–Advisor, Department of the Legal Authority: 26 USC 7805 Government Levels Affected: None

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TREAS—IRS Final Rule Stage

Additional Information: REG-126967-03 2765. SECTION 411(D)(6) PROTECTED Timetable: Drafting attorney: Pamela Kinard (202) BENEFITS Action Date FR Cite Priority: Substantive, Nonsignificant 622-6060 NPRM 06/25/04 69 FR 35544 Reviewing attorney: Linda Marshall Legal Authority: 26 USC 7805; 26 USC Final Action 12/00/04 (202) 622-6090 4980 Regulatory Flexibility Analysis Treasury attorney: Harlan Weller (202) CFR Citation: 26 CFR 1; 26 CFR 54 Required: No 622-1001 Legal Deadline: None Small Entities Affected: Businesses CC:TEGE Abstract: These regulations will Government Levels Affected: None provide guidance relating to section Agency Contact: Pamela R. Kinard, Additional Information: REG-131486-03 Attorney–Advisor, Department of the 411(d)(6) of the Code regarding the Treasury, Internal Revenue Service, elimination or reduction of certain Drafting attorney: Jennifer Sledge (202) 1111 Constitution Avenue NW, early retirement benefits, retirement- 622-7750 Washington, DC 20224 type subsidies, and optional forms of Reviewing attorney: Mark Jennings Phone: 202 622–6060 benefit (section 411(d)(6)(B) protected (202) 622-7750 benefits), and will address both: 1) RIN: 1545–BC20 Treasury attorney: Audrey Nacamuli when these benefits result in significant (202) 622-1721 burdens and complexities for plans and 2764. SPECIAL CONSOLIDATED its participants; and 2) when such CC:COR RETURN RULES FOR INTEREST benefits are of de minimis value to Agency Contact: Jennifer D. Sledge, EXPENSE DISALLOWED UNDER participants. Attorney–Advisor, Department of the SECTION 265(A)(2) Timetable: Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Priority: Substantive, Nonsignificant Action Date FR Cite Washington, DC 20224 Legal Authority: 26 USC 1502; 26 USC NPRM 06/24/04 69 FR 13769 Phone: 202 622–7750 7701 Final Action 12/00/04 RIN: 1545–BC29 CFR Citation: 26 CFR 1 Regulatory Flexibility Analysis Legal Deadline: None Required: No 2767. DEEMED CORPORATE Abstract: The regulation will address Small Entities Affected: No ELECTION FOR ELECTING S the treatment of interest income with Government Levels Affected: None CORPORATIONS respect to an intercompany loan when Priority: the source of funds is borrowing from Additional Information: REG-128309-03 Substantive, Nonsignificant a nonmember and there is a Drafting attorney: Pamela R. Kinard Legal Authority: 26 USC 7701; 26 USC disallowance of interest expense under (202) 622-6060 7805 section 265(a)(2). Reviewing attorney: Linda S. Marshall CFR Citation: 26 CFR 1 Timetable: (202) 622-6090 Legal Deadline: None Action Date FR Cite Treasury attorney: William Bortz Abstract: The regulation will deem an NPRM 05/07/04 69 FR 25535 CC:TEGE S corporation that makes a timely S Final Action 03/00/05 Agency Contact: Pamela R. Kinard, Corporation election to have also made Attorney–Advisor, Department of the a timely election to be an association Regulatory Flexibility Analysis taxed as a corporation under section Required: No Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, 301.7701-3(1)(i) to ease the Small Entities Affected: No Washington, DC 20224 administrative burden on taxpayers and Government Levels Affected: None Phone: 202 622–6060 IRS Service Centers. It will continue implementation of section 7701 under Additional Information: REG-128590-03 RIN: 1545–BC26 the secretary’s general section 7805 Drafting attorney: Frances L. Kelly (202) regulatory authority. 622-7072 2766. SINGLE DETERMINATION OF Timetable: TAX FOR MULTIPLE POOLS OF Reviewing attorney: Michael Wilder Action Date FR Cite (202) 622-3393 ASSETS OF AN S CORPORATION Priority: Substantive, Nonsignificant NPRM 07/20/04 69 FR 43369 Treasury attorney: Audrey Nacamuli Final Action 12/00/04 (202) 622-5721 Legal Authority: 26 USC 7805; 26 USC 1374(e) Regulatory Flexibility Analysis CC:COR Required: No CFR Citation: 26 CFR 1 Agency Contact: Frances L. Kelly, Small Entities Affected: Businesses Attorney–Advisor, Department of the Legal Deadline: None Treasury, Internal Revenue Service, Government Levels Affected: Abstract: The proposed regulation will Undetermined 1111 Constitution Avenue NW, address the determination of tax with Washington, DC 20224 respect to various pools of assets of an Additional Information: REG-131786-03 Phone: 202 622–7770 S corporation that is subject to tax Drafting attorney: Rebekah A. Myers RIN: 1545–BC23 under section 1374. (202) 622-3050

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TREAS—IRS Final Rule Stage

Reviewing attorney: Dianna Miosi (202) 2769. ELIMINATION OF FORMS OF Regulatory Flexibility Analysis 622-3050 DISTRIBUTION IN DEFINED Required: No CONTRIBUTION PLANS Treasury attorney: Deborah Harrington Small Entities Affected: No (202) 622-1788 Priority: Substantive, Nonsignificant Government Levels Affected: None CC:PSI Legal Authority: 26 USC 411(d)(b)(E) Additional Information: REG-132760-03 CFR Citation: Agency Contact: Rebekah A. Myers, 26 CFR 1 Drafting attorney: Amber R. Cook (202) Attorney–Advisor, Department of the Legal Deadline: None 622-7530 Treasury, Internal Revenue Service, Abstract: These regulations will amend Reviewing attorney: Marie Milnes- 1111 Constitution Avenue NW, the section 411(d)(b) regulations to Vasquez (202) 622-7530 Washington, DC 20224 conform to the amendments made by Phone: 202 622–3050 Treasury attorney: Audrey Nacamuli EGTRRA, in accordance with section (202) 622-5721 Related RIN: Related to 1545–BD24 411(d)(b)(E), relating to the elimination of forms of distribution in defined CC:CORP:4 RIN: 1545–BC32 contribution plans. Agency Contact: Amber R. Cook, Timetable: Attorney–Advisor, Department of the 2768. PROHIBITED ALLOCATION OF Treasury, Internal Revenue Service, Action Date FR Cite SECURITIES IN AN S CORPORATION 1111 Constitution Avenue NW, NPRM 07/08/03 68 FR 40581 Washington, DC 20224 Priority: Substantive, Nonsignificant. Final Action 12/00/04 Phone: 202 622–7530 Major status under 5 USC 801 is undetermined. Regulatory Flexibility Analysis Related RIN: Related to 1545–BC39 Required: No Legal Authority: 26 USC 7805; 26 USC RIN: 1545–BC38 409(p)(7)(A) Small Entities Affected: No Government Levels Affected: None CFR Citation: 26 CFR 1 2771. SUBSTITUTE FOR RETURN Additional Information: REG-112039-03 (SFR) AND AUTOMATED SUBSTITUTE Legal Deadline: None FOR RETURN (ASFR) (TEMPORARY) Drafting attorney: Vernon S. Carter Abstract: The regulation will provide (202) 622-6060 Priority: Substantive, Nonsignificant guidance for employee stock ownership Treasury attorney: William Bortz (202) Legal Authority: 26 USC 7805; 26 USC plans holding stock of a subchapter S 6020 corporation concerning the prohibition 622-1352 against allocations to disqualified CC:TEGE CFR Citation: 26 CFR 301 persons under section 409(p). Agency Contact: Vernon S. Carter, Tax Legal Deadline: None Timetable: Law Specialist, Department of the Abstract: The temporary regulation Treasury, Internal Revenue Service, Action Date FR Cite serves to be the Service’s expression of 1111 Constitution Avenue NW., intent that certain documents generated NPRM 07/21/03 68 FR 43058 Washington, DC 20224 in the substitute for return (SFR) and Comment Period End 10/20/03 Phone: 202 622–6060 Automated Substitute for Return Final Action 12/00/04 RIN: 1545–BC35 (ASFR) process constitute section Regulatory Flexibility Analysis 6020(b) returns for purposes of Required: No assessing the section 6651(a)(2) 2770. GUIDANCE UNDER SECTION addition to tax. Small Entities Affected: No 1502; APPLICATION OF SECTION 108 TO MEMBERS OF A CONSOLIDATED Timetable: Government Levels Affected: None GROUP Action Date FR Cite Additional Information: REG-129709-03 Priority: Substantive, Nonsignificant Temporary 12/00/04 Drafting attorney: John T. Ricotta (202) Legal Authority: 26 USC 1502 Regulations 622-6060 CFR Citation: 26 CFR 1 Regulatory Flexibility Analysis Reviewing attorney: Marjorie Hoffman Required: Undetermined Legal Deadline: None (202) 622-6060 Government Levels Affected: Abstract: The regulations under section Undetermined CC:TEGE 1502 of the Internal Revenue Code Additional Information: REG-131739-03 Agency Contact: John T. Ricotta, provide guidance concerning the Attorney–Advisor, Department of the application of certain provisions of Drafting attorney: Tracey B. Leibowitz Treasury, Internal Revenue Service, section 108 to members of a (202) 622-4940 1111 Constitution Avenue NW, consolidated group. Reviewing attorney: Ashton Trice (202) Washington, DC 20224 Timetable: 622-4940 Phone: 202 622–6060 Action Date FR Cite Treasury attorney: Eric San Juan (202) Related RIN: Related to 1545–BC33 NPRM 09/04/03 68 FR 52542 622-0224 RIN: 1545–BC34 Final Action 12/00/04 CC:PA:APJ

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TREAS—IRS Final Rule Stage

Agency Contact: Tracey B. Leibowitz, consequences of a qualified severance Treasury attorney: Julian Kim (202) Attorney–Advisor, Department of the of a trust. 622-1981 Treasury, Internal Revenue Service, Timetable: CC:PA:CBS 1111 Constitution Avenue NW, Washington, DC 20224 Action Date FR Cite Agency Contact: Elizabeth D. Rawlins, Attorney–Advisor, Department of the Phone: 202 622–4940 NPRM 08/24/04 69 FR 51967 Treasury, Internal Revenue Service, Final Action 06/00/05 Related RIN: Related to 1545–BC45 1111 Constitution Avenue NW, RIN: 1545–BC46 Regulatory Flexibility Analysis Washington, DC 20224 Required: No Phone: 202 622–3600 Small Entities Affected: No 2772. GUIDANCE ON PFIC PURGING RIN: 1545–BC55 ELECTIONS Government Levels Affected: None Priority: Substantive, Nonsignificant Additional Information: REG-145987-03 2775. GUARANTEE FEES UNDER SECTION 143(G) Legal Authority: 26 USC 7805 Drafting attorney: Mayer R. Samuels (202) 622-7265 Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Reviewing attorney: George Masnik Legal Authority: 26 USC 143 Legal Deadline: None (202) 622-3618 CFR Citation: 26 CFR 1 Abstract: These final regulations will Treasury attorney: Catherine Hughes Legal Deadline: None provide guidance to taxpayers on (202) 622-9407 making timely deemed sale and Abstract: The regulation will allow CC:PSI deemed dividend elections under issues of qualified mortgage revenue sections 1298(b)(1) and 1291. Agency Contact: Mayer R. Samuels, bonds under section 143 to exclude Attorney–Advisor, Department of the certain fees paid to guarantee pools of Timetable: Treasury, Internal Revenue Service, mortgages (including mortgage backed Action Date FR Cite 1111 Constitution Avenue NW, securities) from the calculation of the effective interest rate on the mortgages NPRM 08/24/04 69 FR 51967 Washington, DC 20224 for purposes of section 143(g). Final Action 12/00/04 Phone: 202 622–7265 Timetable: Regulatory Flexibility Analysis RIN: 1545–BC50 Required: No Action Date FR Cite Small Entities Affected: No 2774. SUSPENSION OF RUNNING OF NPRM 11/05/03 68 FR 62549 PERIOD OF LIMITATION DURING A Final Action 12/00/04 Government Levels Affected: None PROCEEDING TO ENFORCE OR Regulatory Flexibility Analysis Additional Information: REG-120657-04 QUASH A DESIGNATED OR RELATED Required: No SUMMONS Drafting attorney: Alexandra K. Helou Small Entities Affected: No (202) 622-3840 Priority: Substantive, Nonsignificant Government Levels Affected: Local, Reviewing attorney: Valerie A. Mark Legal Authority: 25 USC 6503 State Lippe (202) 622-3840 CFR Citation: 26 CFR 1; 26 CFR 301 Additional Information: REG-146692-03 Treasury attorney: Carl Dubert (202) Legal Deadline: None Drafting attorney: Michael P. Brewer 622-0222 Abstract: These regulations relate to (202) 622-3980 CC:INTL the use of designated and related Reviewing attorney: Timothy L. Jones Agency Contact: Alexandra K. Helou, summonses and the effect on the period (202) 622-3980 of limitations on assessment when a Attorney–Advisor, Department of the CC:TEGE Treasury, Internal Revenue Service, case is brought with respect to a Agency Contact: Michael P. Brewer, 1111 Constitution Avenue NW, 1111 designated or related summons. Attorney–Advisor, Department of the Constitution Avenue NW, Washington, Timetable: Treasury, Internal Revenue Service, DC 20224 Action Date FR Cite 1111 Constitution Avenue NW, Phone: 202 622–3840 NPRM 07/31/03 68 FR 44905 Washington, DC 20224 RIN: 1545–BC49 Final Action 12/00/04 Phone: 202 622–3980 Regulatory Flexibility Analysis RIN: 1545–BC59 2773. QUALIFIED SEVERANCE Required: No REGULATIONS Small Entities Affected: No 2776. PREDECEASED PARENT RULE Priority: Substantive, Nonsignificant Government Levels Affected: None Priority: Substantive, Nonsignificant Legal Authority: 26 USC 2642(a)(3)(C) Additional Information: REG-208199-91 Legal Authority: 26 USC 2651 CFR Citation: 26 CFR 26 Drafting attorney: Elizabeth D. Rawlins CFR Citation: 26 CFR 26 Legal Deadline: None (202) 622-3600 Legal Deadline: None Abstract: This regulation relates to Reviewing attorney: Robert A. Miller Abstract: The proposed regulation will generation-skipping transfer tax (202) 622-3600 provide guidance on the predeceased

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TREAS—IRS Final Rule Stage

parent rule in section 2651(e) and Government Levels Affected: Local, Revenue Service, 1111 Constitution amend the regulations under section State Avenue NW, Washington, DC 20024 26.2612-1(a)(2). Additional Information: REG-121475-03 Phone: 202 622–3070 Timetable: Drafting attorney: Zoran Stojanovic RIN: 1545–BC67 Action Date FR Cite (202) 622-4096 NPRM 09/03/04 69 FR 53863 Reviewing attorney: Timothy L. Jones 2779. SECTION 179 ELECTIONS Public Hearing 12/14/04 69 FR 53863 (202) 622-3701 Priority: Substantive, Nonsignificant Final Action 12/00/04 Treasury attorney: Stephen Watson Legal Authority: 26 USC 202 (202) 622-1322 Regulatory Flexibility Analysis CFR Citation: 26 CFR 1 Required: No CC:TEGE Legal Deadline: None Small Entities Affected: No Agency Contact: Zoran Stojanovic, Abstract: This regulation will provide Government Levels Affected: None Attorney–Advisor, Department of the guidance for making and revoking Treasury, Internal Revenue Service, Additional Information: REG-145988-03 elections under section 179, effective 1111 Constitution Avenue NW, for 2003. Drafting attorney: Lian A. Mito (202) Washington, DC 20224 622-3719 Phone: 202 622–4096 Timetable: Reviewing attorney: James F. Hogan Related RIN: Related to 1545–BC68 Action Date FR Cite (202) 622-3012 RIN: 1545–BC61 NPRM 08/04/04 69 FR 47043 Treasury attorney: Catherine Hughes Final Action 12/00/04 (202) 622-9407 2778. SECTION 1045 APPLICATION TO Regulatory Flexibility Analysis CC:PSI PARTNERSHIPS Required: Undetermined Government Levels Affected: Agency Contact: Lian A. Mito, Priority: Substantive, Nonsignificant Undetermined Attorney–Advisor, Department of the Legal Authority: 26 USC 7805 Treasury, Internal Revenue Service, Additional Information: REG-152549-03 CFR Citation: 26 CFR 1 1111 Constitution Avenue NW, Drafting attorney: Winston H. Douglas Washington, DC 20224 Legal Deadline: None (202) 622-3110 Phone: 202 622–7830 Abstract: This regulation will provide Reviewing attorney: Charles B. Ramsey RIN: 1545–BC60 guidance on how the capital gains (202) 622-3110 rollover provision of section 1045 Treasury attorney: George Manousos applies to partnerships. 2777. QUALIFIED ZONE ACADEMY (202) 622-1335 Timetable: BONDS; OBLIGATIONS OF STATES CC:PSI AND POLITICAL SUBDIVISIONS Action Date FR Cite Agency Contact: Winston H. Douglas, Priority: Substantive, Nonsignificant. NPRM 08/12/04 69 FR 49957 Attorney–Advisor, Department of the Major status under 5 USC 801 is Final Action 02/00/05 Treasury, Internal Revenue Service, undetermined. Regulatory Flexibility Analysis 1111 Constitution Avenue NW, Unfunded Mandates: Undetermined Required: Undetermined Washington, DC 20224 Phone: 202 622–3110 Legal Authority: 26 USC 7805 Government Levels Affected: RIN: 1545–BC69 CFR Citation: 26 CFR 1 Undetermined Legal Deadline: None Additional Information: REG-150562-03 2780. REAL ESTATE MORTGAGE Drafting attorney: Charlotte Chyr (202) Abstract: The regulations will provide INVESTMENT CONDUIT (REMIC) 622-3070 and Jian Grant (202) 622-3050 for permissible use of proceeds and TETRA RULES will coordinate and make consistent Reviewing attorneys: James Quinn (202) Priority: Info./Admin./Other provisions regarding determination of 622-3070 and Mary Beth Collins (202) credit rate and maturity date. It will 622-3070 Legal Authority: 26 USC 860F provide for remedial action in case of Treasury attorney: Deborah Harrington CFR Citation: 26 CFR 1 change in use of bond proceeds. (202) 622-1788 Legal Deadline: None Timetable: CC:PSI Abstract: The proposed regulation Action Date FR Cite Agency Contact: Charlotte Chyr, relates to the application of partnership NPRM 03/26/04 69 FR 15747 Attorney–Advisor, Department of the audit procedures to disputes regarding Public Hearing 07/21/04 Treasury, Internal Revenue Service, the ownership of residual interests in Final Action 12/00/04 1111 Constitution Avenue NW, a REMIC. Washington, DC 20224 Regulatory Flexibility Analysis Timetable: Phone: 202 622–3070 Required: No Action Date FR Cite Small Entities Affected: Governmental Jian Grant, Attorney–Advisor, NPRM 08/10/04 69 FR 48431 Jurisdictions Department of the Treasury, Internal Final Action 12/00/04

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TREAS—IRS Final Rule Stage

Regulatory Flexibility Analysis Agency Contact: Amber R. Cook, proposed amendments would allow a Required: No Attorney–Advisor, Department of the section 401(k) plan or a section 401(m) Small Entities Affected: No Treasury, Internal Revenue Service, plan that is provided under the same 1111 Constitution Avenue NW, general arrangement as the section Government Levels Affected: None Washington, DC 20224 401(k) plan to treat employees of an Additional Information: REG-154077-03 Phone: 202 622–7530 organization described in section 501(c)(3), which is exempt from tax Drafting attorney: Arturo Estrada (202) Related RIN: Related to 1545–BC38, under section 501(a), who are eligible 622-3900 Related to 1545–BC39 to make salary reduction contributions Reviewing attorney: Dale Collinson RIN: 1545–BC74 to a tax-sheltered annuity pursuant to (202) 622-3900 section 403(b) (a section 403(b) Treasury attorney: Viva Hammer (202) 2782. STUDENT FICA GUIDANCE annuity) as excludable employees for 622-0869 the purpose of testing whether such Priority: Substantive, Nonsignificant plans meet the minimum coverage CC:FI Legal Authority: 26 USC 312(b)(10); 26 requirements specified in section Agency Contact: Arturo Estrada, USC 7805 410(b). Congress ordered a modification Attorney–Advisor, Department of the CFR Citation: 26 CFR 1 of the current rule in the Economic Treasury, Internal Revenue Service, Growth and Tax Relief Reconciliation 1111 Constitution Avenue NW, Legal Deadline: None Act of 2001 (Pub. L. 107-16, 115 Stat. Washington, DC 20224 Abstract: The regulations defining 38). Phone: 202 622–3900 ‘‘school, college, or university’’ for Timetable: RIN: 1545–BC71 purposes of section 312(b)(10). The regulations defining ‘‘student’’ for Action Date FR Cite purposes of section 312(b)(10). NPRM 03/16/04 69 FR 12291 2781. GUIDANCE UNDER SECTION Timetable: Final Action 12/00/04 1502; APPLICATION OF SECTION 108 Regulatory Flexibility Analysis TO MEMBERS OF A CONSOLIDATED Action Date FR Cite Required: Undetermined GROUP NPRM 02/25/04 69 FR 8604 Government Levels Affected: None Priority: Substantive, Nonsignificant Final Action 12/00/04 Additional Information: REG-149752-03 Legal Authority: 26 USC 1502 Regulatory Flexibility Analysis Required: No Drafting attorney: Lisa Mojiri-Azad CFR Citation: 26 CFR 1 (202) 622-6060 Small Entities Affected: No Legal Deadline: None Treasury attorney: W. Thomas Reeder Government Levels Affected: Abstract: These regulations amend None (202) 622-1341 REG-132760-03 published in the Additional Information: REG-156421-03 CC:TEGE Federal Register on September 4, 2003 Drafting attorney: John B. Richards Agency Contact: Lisa Mojiri–Azad, (68 FR 52542), and TD 9089 also (202) 622-6040 published in the Federal Register on Assistant Branch Chief, Department of September 4, 2003 (68 FR 52487). Treasury attorney: Kevin Knopf (202) the Treasury, Internal Revenue Service, Those regulations provided guidance 622-2329 1111 Constitution Avenue NW, concerning the application of section CC:TEGE Washington, DC 20224 Phone: 202 622–6060 108 to members of a consolidated Agency Contact: John B. Richards, RIN: group. Senior Counsel, Department of the 1545–BC87 Timetable: Treasury, Internal Revenue Service, Action Date FR Cite 1111 Constitution Avenue NW, 2784. GUIDANCE UNDER SECTION Washington, DC 20224 1502; APPLICATION OF SECTION 108 NPRM 12/11/03 68 FR 69062 Phone: 202 622–6040 TO MEMBERS OF A CONSOLIDATED Final Action 12/00/04 RIN: 1545–BC81 GROUP; COMPUTATION OF TAXABLE Regulatory Flexibility Analysis INCOME WHEN SECTION 108 Required: No APPLIES TO A MEMBER OF A 2783. EXCLUSION OF EMPLOYEES OF CONSOLIDATED GROUP Small Entities Affected: No 501(C)(3) ORGANIZATION IN 401(K) Priority: Substantive, Nonsignificant Government Levels Affected: None AND 401(M) PLANS Legal Authority: 26 USC 1502 Additional Information: REG-153319-03 Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Drafting attorney: Amber R. Cook Legal Authority: 26 USC 7805 Legal Deadline: None (202)622-7530 CFR Citation: 26 CFR 1 Abstract: The regulations provide Reviewing attorney: Marie Milnes- Legal Deadline: None Vasquez (202)622-7530 guidance to prevent circular bases Abstract: This action amends the computations resulting from the Treasury attorney: Audrey Nacamuli Income Tax Regulations (26 CFR part application of sections 108(b) and (202) 622-5721 1) under section 410(b) of the Internal 1.1502-28T, and guidance regarding CC:CORP:4 Revenue Code of 1986 (Code). The recapture under section 1245 following

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TREAS—IRS Final Rule Stage

application of the look-through rules of Agency Contact: Michael P. Brewer, described in sections 401(a) of the section 1017(d) and section 1.1502-28T. Attorney–Advisor, Department of the Code, 403(a), 403(b), and governmental Timetable: Treasury, Internal Revenue Service, plans under section 457(b)) may permit 1111 Constitution Avenue NW, employees to make voluntary employee Action Date FR Cite Washington, DC 20224 contributions to a ‘‘deemed IRA,’’ i.e., NPRM 03/15/04 69 FR 12091 Phone: 202 622–3980 separate account or annuity established under the plan. Generally, these Final Action 12/00/04 RIN: 1545–BD04 accounts or annuities are treated as Regulatory Flexibility Analysis IRAs pursuant to IRC section 408. Required: No 2786. TREATMENT OF FOREIGN Proposed regulations providing Small Entities Affected: No STAPLED CORPORATION guidance with respect to section 408(q) (TEMPORARY) were published in the Federal Register Government Levels Affected: None on May 20, 2003, and the final Priority: Substantive, Nonsignificant Additional Information: REG-167265-03 regulations are expected to be Drafting attorney: Candace B. Ewell Legal Authority: 26 USC 7805; 26 USC published on or before March 31, 2004. (202) 622-7530 269B Deemed IRAs must satisfy the CFR Citation: 26 CFR 1 requirements of section 408(a) except Reviewing attorney: Marie Milnes- for the commingling requirements of Vasquez (202) 622-7530 Legal Deadline: None section 408(a)(5). Consistent with this Treasury attorney: Audrey Nacamuli Abstract: This project will provide general rule, section 1.408(q)-1(f)(1) of (202) 622-5721 regulatory guidance to implement the proposed regulations provides that the trustee or custodian of an CC:COR Notice 2003-50. individual retirement account must be Timetable: Agency Contact: Candace B. Ewell, a bank or an entity that received Attorney–Advisor, Department of the Action Date FR Cite approval from the Commissioner to Treasury, Internal Revenue Service, Temporary Regulation 06/00/05 serve as a nonbank trustee, pursuant to 1111 Constitution Avenue NW, section 1.408-2(e) of the regulations. Washington, DC 20224 Regulatory Flexibility Analysis IRC section 1.408-2(e)(1) provides that Phone: 202 622–7530 Required: No an entity must demonstrate by written Related RIN: Related to 1545–BC96 Government Levels Affected: application that the requirements of Undetermined paragraph (e)(2) to (e)(6) of that RIN: 1545–BC95 regulation will be met in order to Federalism: Undetermined qualify as a nonbank trustee. The new 2785. SOLID WASTE DISPOSAL Additional Information: REG-101282-04 regulation will provide that FACILITIES Drafting attorney: Richard L. Osborne governmental entities need not (202) 622-3860 demonstrate that all of these Priority: Substantive, Nonsignificant requirements will be met with respect Legal Authority: 26 USC 142 Reviewing attorney: Robert W. Lorence to any deemed IRAs maintained by that (202) 622-3860 governmental entity. The new CFR Citation: 26 CFR 1 Treasury attorney: Michael Cabellero regulation will provide that a Legal Deadline: None (202) 622-0851 governmental entity must demonstrate in writing to the satisfaction of the Abstract: This regulation will modify CC:INTL the definition of solid waste disposal Commissioner that the entity will facility for purposes of section 142(a)(6) Agency Contact: Richard L. Osborne, administer the trust in a manner that of the Internal Revenue Code. Attorney–Advisor, Department of the is consistent with the requirements of Treasury, Internal Revenue Service, section 408. Timetable: 1111 Constitution Avenue NW, Timetable: Action Date FR Cite Washington, DC 20224 Phone: 202 622–3860 Action Date FR Cite NPRM 05/10/04 69 FR 25856 NPRM 07/22/04 69 FR 43786 Final Action 06/00/05 Related RIN: Related to 1545–BD05 Final Action 12/00/04 Regulatory Flexibility Analysis RIN: 1545–BD06 Regulatory Flexibility Analysis Required: No Required: No Small Entities Affected: No 2787. DEEMED IRAS IN Small Entities Affected: No GOVERNMENTAL PLANS/QUALIFIED Government Levels Affected: Local, Government Levels Affected: None State NONBANK TRUSTEE RULES Additional Information: REG-101447-04 Additional Information: REG-140492-02 Priority: Substantive, Nonsignificant Legal Authority: 26 USC 408 Drafting attorney: Linda L. Conway Drafting attorney: Michael P. Brewer (202) 622-3051 (202) 622-3980 CFR Citation: 26 CFR 1 Reviewing attorney: Janet A. Laufer Reviewing attorney: Timothy Jones Legal Deadline: None (202) 622-6090 (202) 622-3980 Abstract: Under IRS section 408(q), a Treasury attorney: W. Thomas Reeder CC:TEGE qualified employer plan (plans (202) 622-1341

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TREAS—IRS Final Rule Stage

CC:TEGE 2789. CURRENT LIABILITY INTEREST Small Entities Affected: No RATE UNDER SECTION 412(B)(5) Agency Contact: Government Levels Affected: None Linda L. Conway, (TEMPORARY) Attorney–Advisor, Department of the Additional Information: REG-171386-03 Treasury, Internal Revenue Service, Priority: Substantive, Nonsignificant 1111 Constitution Avenue NW, Drafting attorney: Amy J. Pfalzgraf (202) Legal Authority: 26 USC 7805; 26 USC 622-4950 Washington, DC 20224 412(b)(5) Phone: 202 622–6090 Reviewing attorney: Christopher F. CFR Citation: 26 CFR 1 Kane (202) 622-4950 RIN: 1545–BD07 Legal Deadline: None CC:ITA Abstract: This temporary regulation Agency Contact: Amy J. Pfalzgraf, 2788. PUBLIC INSPECTION OF will provide rules regarding the current WRITTEN DETERMINATIONS UNDER Attorney–Advisor, Department of the liability interest rate under section Treasury, Internal Revenue Service, SECTION 6110 OF THE INTERNAL 412(b)(5). REVENUE CODE (TEMPORARY) 1111 Constitution Avenue NW, Timetable: Washington, DC 20224 Priority: Substantive, Nonsignificant Action Date FR Cite Phone: 202 622–4950 Legal Authority: 26 USC 7805 RIN: Temporary Regulation 12/00/04 1545–BD16 CFR Citation: 26 CFR 301 Regulatory Flexibility Analysis 2791. COORDINATION OF UNITED Legal Deadline: None Required: No STATES AND CERTAIN Abstract: This temporary regulation Small Entities Affected: No POSSESSIONS INCOME TAXES replaces and updates the existing Government Levels Affected: None (TEMPORARY) regulation to include procedures for the Additional Information: REG-105966-04 Priority: Substantive, Nonsignificant public availability of Chief Counsel Advice. It also reflects changes to the Drafting attorney: Linda S.F. Marshall Unfunded Mandates: Undetermined organizational structure of the Internal (202) 622-6090 Legal Authority: 26 USC 7805 Revenue Service and Office of Chief Treasury attorney: Harlan Weller (202) CFR Citation: 26 CFR 1; 26 CFR 301 Counsel, changes to the Code, and 622-1001 technological advances related to the Legal Deadline: None CC:TEGE electronic availability of Internal Abstract: The regulations for section Revenue Service documents to the Agency Contact: Linda Marshall, 7654 (1954 Code) will revise existing public. Senior Counsel, Department of the regulations for clarification and the Timetable: Treasury, Internal Revenue Service, regulations for section 7654 (1986) will 1111 Constitution Avenue NW, be new. Internal Revenue Code (IRC) Action Date FR Cite Washington, DC 20224 section 7654 contains the provisions for Temporary Regulation 03/00/05 Phone: 202 622–8012 cover-over to the U.S. Possessions. Old Regulatory Flexibility Analysis Related RIN: Related to 1545–BD13 section 7654 (1954 Code) continues to be applicable to Guam and the Required: No RIN: 1545–BD14 Commonwealth of the Northern Small Entities Affected: No Mariana Islands (CNMI) because these 2790. TIME AND MANNER OF MAKING two possessions do not have an Government Levels Affected: None SECTION 163 (D)(4)(B) ELECTION TO effective implementing agreement with Additional Information: REG-113129-98 TREAT QUALIFIED DIVIDEND INCOME the United States as required by the AS INVESTMENT INCOME Tax Reform Act of 1986. Regulations Drafting attorney: Deborah C. Lambert- are necessary for consistent and correct Dean (202) 622-4570 Priority: Info./Admin./Other application of section 7654. For Reviewing attorney: Donald Squires Legal Authority: 26 USC 163 (d)(4)(B) example, cover-over for (Armed Forces) (202) 622-4570 CFR Citation: 26 CFR 1 residents of the possessions stationed outside the possessions are not Treasury attorney: Eric San Juan (202) Legal Deadline: None specifically addressed in the 1954 622-0224 Abstract: These regulations provide Code, and neither is cover-over for CC:PA:DPL guidance regarding time and manner Federal employees residing in U.S. for making the election under IRC Possessions. Temporary Regulations are Agency Contact: Deborah C. section 163(d)(4)(B) to treat qualified needed to carry out the provisions of Lambert–Dean, Attorney–Advisor, dividend income as investment income. section 7654 and sections 931, 932, and Department of the Treasury, Internal 935. Revenue Service, 1111 Constitution Timetable: Avenue NW, Washington, DC 20224 Action Date FR Cite Timetable: Phone: 202 622–4570 Action Date FR Cite Fax: 202 622–4520 NPRM 08/05/04 69 FR 47395 Final Action 02/00/05 Temporary Regulation 12/00/04 Related RIN: Related to 1545–AX40 Regulatory Flexibility Analysis Regulatory Flexibility Analysis RIN: 1545–BD09 Required: No Required: No

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TREAS—IRS Final Rule Stage

Small Entities Affected: No Constitution Avenue NW, Washington, Timetable: Government Levels Affected: None DC 20224 Action Date FR Cite Phone: 202 622–3840 Additional Information: REG-139900-03 NPRM 08/12/04 69 FR 49840 Related RIN: Related to 1545–BC37 Drafting attorney: Mae J. Lew (202) 435- Public Hearing 11/03/04 69 FR 49840 RIN: 5262 1545–BD33 Final Action 12/00/05 Reviewing attorney: Ricardo A. Cadenas Regulatory Flexibility Analysis (202) 435-5262 2793. LIFO RECAPTURE UNDER Required: No SECTION 1363(D) Treasury attorney: Carl Dubert (202) Small Entities Affected: No 622-1765 Priority: Substantive, Nonsignificant Government Levels Affected: None Legal Authority: CC:INTL 26 USC 7805 Additional Information: REG-124872-04 CFR Citation: Agency Contact: Mae J. Lew, 26 CFR 1 Drafting attorney: Thomas D. Beem Attorney–Advisor, Department of the Legal Deadline: None (202) 622-3860 Treasury, Internal Revenue Service, Abstract: These proposed regulations Reviewing attorney: Charles P. Besecky 1111 Constitution Avenue NW, provide guidance on a C corporation (202) 622-3860 Washington, DC 20224 that, owning LIFO inventory through a Treasury attorney: Carl Dubert (202) Phone: 202 435–5262 partnership, converts to an S 622-0222 Related RIN: Related to 1545–BC54 corporation or transfers its partnership CC:INTL RIN: 1545–BD32 interest to an S corporation. Timetable: Agency Contact: Thomas D. Beem, Attorney–Advisor, Department of the Action Date FR Cite 2792. GUIDANCE ON PFIC PURGING Treasury, Internal Revenue Service, ELECTIONS (TEMPORARY) NPRM 08/13/04 69 FR 50109 1111 Constitution Avenue NW, 1111 Priority: Substantive, Nonsignificant Final Action 03/00/05 Constitution Avenue NW, Washington, DC 20224 Legal Authority: 26 USC 7805 Regulatory Flexibility Analysis Required: No Phone: 202 622–3860 CFR Citation: 26 CFR 1 Small Entities Affected: No Related RIN: Related to 1545–BD43 Legal Deadline: None Government Levels Affected: None RIN: 1545–BD37 Abstract: These temporary regulations will provide guidance regarding Additional Information: REG-149524-03 retroactive relief for taxpayers who, in Drafting attorney: Pietro Canestrelli 2795. UNDERPAYMENT FOR limited circumstances, continue to be (202) 622-3060 QUALIFIED AMENDED RETURNS (TEMPORARY) subject to the PFIC excess distribution Reviewing attorney: David Hagland regime of section 1291 although the (202) 622-3050 Priority: Substantive, Nonsignificant foreign corporation in which they own Unfunded Mandates: Undetermined stock is no longer treated as a PFIC Treasury attorneys: Deborah Harrington under section 1298(b)(1) or section (202) 622-1788 and Stephanie Robinson Legal Authority: Not Yet Determined (202) 1297(e). CFR Citation: 26 CFR 1 622-9858 Timetable: Legal Deadline: None CC:PSI Action Date FR Cite Abstract: These temporary regulations Agency Contact: Pietro E. Canestrelli, Temporary Regulation 12/00/04 will revise the definition of ‘‘qualified Attorney–Advisor, Department of the amended return’’ in accordance with Regulatory Flexibility Analysis Treasury, Internal Revenue Service, Notice 2004-38. Required: No 1111 Constitution Avenue NW, Timetable: Small Entities Affected: No Washington, DC 20224 Phone: 202 622–3060 Action Date FR Cite Government Levels Affected: None Related RIN: Related to 1545–BC66 Temporary 12/00/04 Additional Information: REG-133446-03 RIN: 1545–BD34 Regulations Drafting attorney: Alexandra K. Helou Regulatory Flexibility Analysis (202) 622-3840 Required: Undetermined 2794. CLARIFICATION OF Reviewing attorney: Valerie A. Mark DEFINITIONS Small Entities Affected: Businesses Lippe (202) 622-3840 Priority: Substantive, Nonsignificant Government Levels Affected: None Treasury attorney: Carl Dubert (202) 622-0222 Legal Authority: 26 USC 7805 Federalism: Undetermined CC:INTL CFR Citation: 26 CFR 301 Additional Information: REG-122847-04 Agency Contact: Alexandra K. Helou, Legal Deadline: None Drafting attorney: Nancy M. Galib (202) Attorney–Advisor, Department of the Abstract: These regulations will 622-7022 Treasury, Internal Revenue Service, address the treatment of corporate Reviewing attorney: Ashton P. Trice 1111 Constitution Avenue NW, 1111 continuances under section 7701. (202) 622-4940

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TREAS—IRS Final Rule Stage

Treasury attorneys: Julian Kim and 2797. ∑ TREATMENT OF Small Entities Affected: No Jonathan Ackerman (202) 622-1981 DISREGARDED ENTITIES UNDER Government Levels Affected: None SECTION 752 CC:PA:AP J Priority: Substantive, Nonsignificant Additional Information: REG-129771-04 Agency Contact: Nancy M. Galib, Drafting Attorney: Jonathan A. Sambur attorney, Department of the Treasury, Legal Authority: 26 USC 752; 26 USC (202) 622-3840 Internal Revenue Service, 1111 7805 Constitution Avenue NW, Washington, CFR Citation: 26 CFR 1 Reviewing Attorney: Phyllis E. Marcus DC 20024 Legal Deadline: None (202) 622-3840 Phone: 202 622–7022 Abstract: Provide rules under section Treasury Attorney: Carl Dubert (202) Related RIN: Related to 1545–BD40 752 for taking into account the net 622-0222 RIN: 1545–BD42 value of a disregarded entity owned by CC:INTL a partner or related person for purposes of allocating partnership liabilities. Agency Contact: Jonathan A. Sambur, 2796. ∑ ALLOCATION AND Attorney–Advisor, Department of the APPORTIONMENT OF DEDUCTIONS Timetable: Treasury, Internal Revenue Service, FOR CHARITABLE CONTRIBUTIONS Action Date FR Cite 1111 Constitution Avenue NW, (TEMPORARY) NPRM 08/12/04 69 FR 49832 Washington, DC 20224 Phone: 202 622–3840 Priority: Substantive, Nonsignificant Final Action 02/00/05 RIN: Legal Authority: 26 USC 7805 Regulatory Flexibility Analysis 1545–BD49 Required: No CFR Citation: 26 CFR 1; 26 CFR 1 Small Entities Affected: No 2799. ∑ CONTINUITY OF Legal Deadline: None Government Levels Affected: None INTEREST/STOCK FLUCTUATION Abstract: These regulations will Additional Information: REG-128767-04 Priority: Substantive, Nonsignificant provide final guidance relating to the allocation and apportionment of Drafting attorney: Michael J. Goldman Legal Authority: 26 USC 7805 deductions for charitable contributions, (202) 622-3080 CFR Citation: 26 CFR 1 including where the deductions are Reviewing attorney: Jeanne Sullivan Legal Deadline: None provided by an income tax treaty rather (202) 622-3050 than by sections 170, 873(b)(2), and Treasury: Stephanie Robinson (202) Abstract: This regulation relates to the 882(c)(1)(B). 622-9848 circumstances in which continuity of Timetable: interest is measured using a CC:PSI transaction’s signing date. Action Date FR Cite Agency Contact: Michael Goldman, Timetable: Temporary Regulation 07/28/04 69 FR 44930 Attorney–Advisor, Department of the NPRM 07/28/04 69 FR 44988 Treasury, Internal Revenue Service, Action Date FR Cite Final Action 03/00/05 1111 Constitution Avenue NW, NPRM 08/10/04 69 FR 48429 Washington, DC 20224 Regulatory Flexibility Analysis Final Action 12/00/04 Phone: 202 622–3080 Required: No Regulatory Flexibility Analysis RIN: 1545–BD48 Small Entities Affected: No Required: No Small Entities Affected: No Government Levels Affected: None 2798. ∑ SECTION 951 PRO RATA Additional Information: REG-129040-04 RULES Government Levels Affected: None Drafting attorney: Teresa B. Hughes Priority: Substantive, Nonsignificant Additional Information: REG-129706-04 (202) 622-3850 Legal Authority: 26 USC 7805 Drafting attorney: Christopher M. Bass Reviewing attorney: Anne O. Devereaux CFR Citation: 26 CFR 1 (202) 622-7770 (202) 622-3850 Legal Deadline: None Reviewing attorney: Jeffrey B. Fienberg Treasury attorney: John Harrington Abstract: These regulations provide (202) 622-7770 (202) 622-0589 rules for determining a United States Treasury attorney: Audrey Nacamuli CC:INTL shareholder’s pro rata share of subpart (202) 622-5721 F income of a controlled foreign Agency Contact: CC:CORP:B2 Teresa B. Hughes, corporation. Attorney–Advisor, Department of the Timetable: Agency Contact: Christopher M. Bass, Treasury, Internal Revenue Service, Attorney–Advisor, Department of the 1111 Constitution Avenue NW, Action Date FR Cite Treasury, Internal Revenue Service, Washington, DC 20224 1111 Constitution Avenue NW, Phone: 202 622–3850 NPRM 08/05/04 69 FR 47822 Final Action 08/00/05 Washington, DC 20224 Related RIN: Related to 1545–AP30 Regulatory Flexibility Analysis Phone: 202 622–7770 RIN: 1545–BD47 Required: No RIN: 1545–BD53

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TREAS—IRS Final Rule Stage

2800. ∑ MANUFACTURER INCENTIVE Timetable: 1111 Constitution Avenue NW, PAYMENTS IN AN INTERCOMPANY Action Date FR Cite Washington, DC 20024 TRANSACTION Phone: 202 622–4940 NPRM 08/06/04 69 FR 47816 Priority: Substantive, Nonsignificant Final Action 06/00/05 RIN: 1545–BD75 Legal Authority: 26 USC 1502 Regulatory Flexibility Analysis ∑ CFR Citation: 26 CFR 1 Required: No 2803. SPECIAL RULES TO REDUCE SECTION 1446 WITHHOLDING Government Levels Affected: None Legal Deadline: None (TEMPORARY) Additional Information: REG-136481-04 Abstract: This project clarifies how the Priority: Substantive, Nonsignificant intercompany transaction regulations Drafting attorney: David F. Bergkuist treat manufacturer incentive payments (202) 622-3850 Legal Authority: 26 USC 7805; 26 USC 1446 to other members of the group. Reviewing attorney: Richard Chewning Timetable: (202) 622-3850 CFR Citation: 26 CFR 1 Action Date FR Cite Treasury attorney: John Harrington Legal Deadline: None NPRM 08/13/04 69 FR 50112 (202) 622-0589 Abstract: The regulations provide Final Action 06/00/05 CC:INTL guidance for partnerships obligated to Regulatory Flexibility Analysis Agency Contact: David F. Bergkuist, pay withholding tax under section 1446 of the Internal Revenue Code. Required: No Attorney–Advisor, Department of the Treasury, Internal Revenue Service, Specifically, the proposed and Small Entities Affected: No 1111 Constitution Avenue NW, temporary regulations address the Government Levels Affected: None Washington, DC 20224 circumstances under which a Phone: 202 622–3850 partnership may reduce its withholding Additional Information: REG-131264-04 tax due based upon certifications of Drafting attorney: Frances Kelly (202) RIN: 1545–BD62 losses by foreign partners or when the 622-7770 partnership is in bankruptcy. The ∑ temporary regulations will be effective Reviewing attorney: Gerald B. Fleming 2802. REMOVAL OF SECTION 6661 for partnership taxable years beginning (202) 622-7770 REGULATIONS after the date the regulations are Treasury attorney: Audrey Nacamuli Priority: Info./Admin./Other published in the Federal Register. (202) 622-5721 Legal Authority: 26 USC 7805; PL Timetable: CC:COR 101–239, sec 7721 Action Date FR Cite Agency Contact: Frances L. Kelly, CFR Citation: 26 CFR 1 Temporary Regulation 03/00/05 Attorney–Advisor, Department of the Legal Deadline: None Treasury, Internal Revenue Service, Abstract: This regulation removes 26 Regulatory Flexibility Analysis 1111 Constitution Avenue NW, CFR section 1.661-1 through 1.661-6 Required: Undetermined Washington, DC 20224 pertaining to 26 U.S.C. section 6661, Government Levels Affected: None Phone: 202 622–7770 which was repealed for tax returns due Additional Information: REG-108524-00 RIN: 1545–BD55 after December 31, 1989. Timetable: Drafting attorney: Ronald M. Gootzeit (202) 622-3860 2801. ∑ SOURCE OF COMPENSATION Action Date FR Cite FOR LABOR OR PERSONAL Reviewing attorney: Michael H. Frankel SERVICES Final Action 12/00/04 (202) 622-3860 Regulatory Flexibility Analysis Priority: Substantive, Nonsignificant Treasury attorney: David Sotos (202) Required: No 622-0851 Legal Authority: 26 USC 7805; 26 USC Small Entities Affected: No 861 CC:INTL Government Levels Affected: None CFR Citation: 26 CFR 1 Agency Contact: Ronald M. Gootzeit, Additional Information: REG-144890-04 Attorney–Advisor, Department of the Legal Deadline: None Drafting attorney: Audra M. Dineen Treasury, Internal Revenue Service, Abstract: This regulation will describe (202) 622-4940 1111 Constitution Avenue NW, the appropriate basis for determining Washington, DC 20224 CC:APJP:B02 the source of income from labor or Phone: 202 622–3860 personal services performed partly Agency Contact: Audra M. Dineen, Related RIN: Related to 1545–AY28 within and partly without the United Attorney–Advisor, Department of the States. Treasury, Internal Revenue Service, RIN: 1545–BD80

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Department of the Treasury (TREAS) Long-Term Actions Internal Revenue Service (IRS)

2804. INCOME TAX—TAXPAYER’S Government Levels Affected: None Small Entities Affected: No OBLIGATION TO FILE A NOTICE OF Agency Contact: Christopher J. Bello Government Levels Affected: None REDETERMINATION OF FOREIGN TAX Phone: 202 435–5160 AND CIVIL PENALTIES FOR FAILURE Agency Contact: Richard L. Chewning TO FILE RIN: 1545–AI16 Phone: 202 622–3850 Priority: Substantive, Nonsignificant RIN: 1545–AM11 2807. INFORMATION FROM CFR Citation: 26 CFR 1; 26 CFR 301; PASSPORT AND IMMIGRATION 26 CFR 602 2810. EARNINGS AND PROFITS OF APPLICANTS CONTROLLED FOREIGN Timetable: Priority: Substantive, Nonsignificant CORPORATIONS Action Date FR Cite CFR Citation: 26 CFR 301 Priority: Substantive, Nonsignificant NPRM 06/23/88 53 FR 23659 Timetable: CFR Citation: 26 CFR 1 Next Action Undetermined Action Date FR Cite Timetable: Regulatory Flexibility Analysis Required: No NPRM 12/24/92 57 FR 61373 Action Date FR Cite Next Action Undetermined Small Entities Affected: No NPRM 01/25/90 55 FR 2535 Regulatory Flexibility Analysis Next Action Undetermined Government Levels Affected: None Required: No Regulatory Flexibility Analysis Agency Contact: Margaret A. Hogan Small Entities Affected: No Required: No Phone: 202 622–3850 Government Levels Affected: None Small Entities Affected: No RIN: 1545–AC09 Agency Contact: Willard W. Yates Government Levels Affected: None Phone: 202 622–3880 Agency Contact: Margaret A. Hogan 2805. INCOME TAX—DEFINITION OF Fax: 202 622–4476 QUALIFIED POSSESSION SOURCE Phone: 202 622–3850 INVESTMENT INCOME FOR RIN: 1545–AJ93 RIN: 1545–AM90 PURPOSES OF PUERTO RICO AND POSSESSION TAX CREDIT 2808. INCOME OF FOREIGN 2811. CARIBBEAN BASIN Priority: Substantive, Nonsignificant GOVERNMENTS AND INVESTMENTS INTERNATIONAL ORGANIZATIONS CFR Citation: 26 CFR 1 Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant Timetable: CFR Citation: 26 CFR 1 CFR Citation: 26 CFR 1 Action Date FR Cite Timetable: Timetable: NPRM 01/21/86 51 FR 2726 Action Date FR Cite Next Action Undetermined Action Date FR Cite NPRM 05/13/91 56 FR 21963 Regulatory Flexibility Analysis NPRM 06/27/88 53 FR 24100 Hearing 07/12/91 56 FR 21963 Required: Undetermined NPRM Comment 08/26/88 Next Action Undetermined Period End Government Levels Affected: None Next Action Undetermined Regulatory Flexibility Analysis Required: Undetermined Agency Contact: W. Edward Williams Regulatory Flexibility Analysis Phone: 202 622–3830 Required: No Government Levels Affected: None RIN: 1545–AC10 Small Entities Affected: No Agency Contact: W. Edward Williams Phone: 202 622–3830 Government Levels Affected: None RIN: 1545–AM91 2806. FSC TRANSFER PRICING Agency Contact: David A. Juster RULES, DISTRIBUTIONS, DIVIDENDS Phone: 202 622–3850 RECEIVED, DEDUCTION, AND OTHER RIN: 1545–AL93 2812. CONSOLIDATED ALTERNATIVE SPECIAL RULES FOR FSC MINIMUM TAX Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant 2809. CLARIFICATION OF CFR Citation: 26 CFR 1 TREATMENT OF SEPARATE CFR Citation: 26 CFR 1 Timetable: LIMITATION LOSSES Timetable: Action Date FR Cite Priority: Substantive, Nonsignificant Action Date FR Cite NPRM 03/03/87 52 FR 6467 CFR Citation: 26 CFR 1 NPRM 12/30/92 57 FR 62251 NPRM Comment 05/02/87 Timetable: NPRM Comment 03/01/93 Period End Period End Next Action Undetermined Action Date FR Cite Hearing 04/06/93 Regulatory Flexibility Analysis NPRM 12/00/05 Next Action Undetermined Required: No Regulatory Flexibility Analysis Regulatory Flexibility Analysis Small Entities Affected: No Required: No Required: Undetermined

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TREAS—IRS Long-Term Actions

Government Levels Affected: None Government Levels Affected: None Action Date FR Cite Agency Contact: Martin Scully Agency Contact: David F. Bergkuist Hearing 03/19/93 Phone: 202 622–8066 Phone: 202 622–3850 Next Action Undetermined RIN: 1545–AN73 RIN: 1545–AO72 Regulatory Flexibility Analysis Required: No 2813. CONFORMING TAXABLE YEARS 2816. GUIDANCE IN NOTICE 89–37, Small Entities Affected: No OF CFCS AND FPHCS WHICH TREATS THE RECEIPT OF A Government Levels Affected: None Priority: Substantive, Nonsignificant CORPORATE PARTNER’S STOCK BY THE CORPORATE PARTNER AS A Agency Contact: Ann H. Logan CFR Citation: 26 CFR 1 CIRCUMVENTION OF GENERAL Phone: 202 622–3970 UTILITIES REPEAL Timetable: RIN: 1545–AQ70 Action Date FR Cite Priority: Substantive, Nonsignificant NPRM 01/05/93 58 FR 290 CFR Citation: 26 CFR 1 2819. ALLOCATION OF ACCRUED Next Action Undetermined Timetable: BENEFITS BETWEEN EMPLOYER AND EMPLOYEE CONTRIBUTIONS Regulatory Flexibility Analysis Action Date FR Cite Required: No Priority: Substantive, Nonsignificant NPRM 12/15/92 57 FR 59324 Small Entities Affected: No NPRM Comment 01/20/93 CFR Citation: 26 CFR 1 Government Levels Affected: None Period End Timetable: NPRM 12/00/05 Agency Contact: Carl M. Cooper Action Date FR Cite Phone: 202 622–3840 Regulatory Flexibility Analysis Required: No NPRM 12/22/95 60 FR 66532 RIN: 1545–AO22 NPRM Comment 03/21/96 Small Entities Affected: No Period End Next Action Undetermined 2814. EARNINGS STRIPPING Government Levels Affected: None PAYMENTS Agency Contact: Tara P. Volungis Regulatory Flexibility Analysis Required: No Priority: Substantive, Nonsignificant Phone: 202 927–3080 RIN: Small Entities Affected: No CFR Citation: 26 CFR 1 1545–AP52 Government Levels Affected: None Timetable: 2817. USE OF GAAP EARNINGS AS Agency Contact: Cathy A. Vohs Action Date FR Cite E&P OF FOREIGN CORPORATIONS Phone: 202 622–6090 NPRM 06/18/91 56 FR 27907 Priority: Substantive, Nonsignificant RIN: 1545–AT82 Hearing 09/25/91 Final Action 12/00/05 CFR Citation: 26 CFR 1 Regulatory Flexibility Analysis Timetable: 2820. FOREIGN CORPORATIONS REGULATIONS Required: No Action Date FR Cite Priority: Substantive, Nonsignificant Small Entities Affected: No NPRM 07/01/92 57 FR 29246 Government Levels Affected: None Next Action Undetermined CFR Citation: 26 CFR 1 Agency Contact: Theodore D. Setzer Regulatory Flexibility Analysis Timetable: Phone: 202 622–3870 Required: No Action Date FR Cite RIN: 1545–AO24 Small Entities Affected: No NPRM 03/08/96 61 FR 9377 Government Levels Affected: None Next Action Undetermined 2815. FRINGE BENEFIT SOURCING Agency Contact: Margaret A. Hogan Regulatory Flexibility Analysis UNDER SECTION 861 Phone: 202 622–3850 Required: No Priority: Substantive, Nonsignificant RIN: 1545–AQ55 Small Entities Affected: No CFR Citation: 26 CFR 1 Government Levels Affected: None Timetable: 2818. THE TREATMENT OF Agency Contact: Gregory A. Spring ACCELERATED DEATH BENEFITS Phone: 202 622–3870 Action Date FR Cite Priority: Substantive, Nonsignificant RIN: 1545–AT96 NPRM 01/21/00 65 FR 3402 Public Hearing 07/18/00 CFR Citation: 26 CFR 1 Second NPRM 08/06/04 69 FR 47816 Timetable: 2821. APPLICATION OF GRANTOR Next Action Undetermined TRUST RULES TO NONEXEMPT Action Date FR Cite Regulatory Flexibility Analysis EMPLOYEES’ TRUST NPRM 12/15/92 57 FR 59319 Required: No Priority: Substantive, Nonsignificant NPRM Comment 02/26/93 Small Entities Affected: No Period End CFR Citation: 26 CFR 1

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TREAS—IRS Long-Term Actions

Timetable: 2824. FINANCIAL ASSET Agency Contact: Theodore D. Setzer Action Date FR Cite SECURITIZATION INVESTMENT Phone: 202 622–3870 TRUST (FASIT) START–UP; RIN: 1545–AW13 NPRM 09/27/96 61 FR 50778 OPERATIONAL AND TRANSITIONAL NPRM Comment 12/26/96 RULES Period End 2827. TRANSPORTATION OF Priority: Substantive, Nonsignificant Hearing 01/15/97 PERSONS AND PROPERTY BY AIR Next Action Undetermined CFR Citation: 26 CFR 301; 26 CFR 1 Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis Timetable: CFR Citation: 26 CFR 1 Required: No Action Date FR Cite Timetable: Small Entities Affected: No ANPRM 11/04/96 61 FR 56648 Action Date FR Cite Government Levels Affected: None ANPRM Comment 12/31/96 Agency Contact: M. Grace Fleeman Period End NPRM 12/00/05 Phone: 202 622–3880 NPRM 02/07/00 65 FR 5807 Regulatory Flexibility Analysis Next Action Undetermined Required: No Linda Marshall Regulatory Flexibility Analysis Small Entities Affected: No Phone: 202 622–8012 Required: No Government Levels Affected: None Small Entities Affected: No James A. Quinn Agency Contact: Taylor Cortright Government Levels Affected: None Phone: 202 622–3070 Phone: 202 622–3130 Agency Contact: John W. Rogers, III RIN: 1545–AU29 RIN: 1545–AW19 Phone: 202 622–3950 RIN: 1545–AU94 2822. RECOMPUTATION OF LIFE 2828. SOURCE OF INCOME FROM INSURANCE RESERVES CERTAIN SPACE AND OCEAN Priority: Substantive, Nonsignificant 2825. SUBSTANTIATING TRAVEL ACTIVITIES AND FOR EXPENSE DEDUCTIONS FOR COMMUNICATIONS INCOME CFR Citation: 26 CFR 1 MEMBERS OF CONGRESS Priority: Substantive, Nonsignificant Timetable: Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Action Date FR Cite CFR Citation: 26 CFR 1; 26 CFR 5 Timetable: NPRM 01/02/97 62 FR 71 Timetable: Final Action 12/00/05 Action Date FR Cite Action Date FR Cite Regulatory Flexibility Analysis NPRM 01/17/01 66 FR 3903 Required: No NPRM 12/00/05 Hearing 05/23/01 66 FR 12916 Small Entities Affected: No Regulatory Flexibility Analysis Next Action Undetermined Required: No Government Levels Affected: None Regulatory Flexibility Analysis Small Entities Affected: No Required: No Agency Contact: Mark S. Smith Phone: 202 622–3970 Government Levels Affected: None Small Entities Affected: No Fax: 2026226275 Agency Contact: Edwin B. Cleverdon Government Levels Affected: None RIN: 1545–AU49 Phone: 202 622–7900 Agency Contact: Edward R. Barret RIN: 1545–AV55 Phone: 202 622–3880 2823. SOURCE RULES FOR RIN: 1545–AW50 PAYMENTS MADE PURSUANT TO 2826. STOCKS AND SECURITIES CERTAIN SWAP ARRANGEMENTS SAFE HARBOR EXCEPTION 2829. CONSTRUCTIVE SALES OF Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant APPRECIATED FINANCIAL POSITIONS CFR Citation: 26 CFR 1 CFR Citation: 26 CFR 1 Priority: Substantive, Nonsignificant Timetable: Timetable: CFR Citation: 26 CFR 1 Action Date FR Cite Action Date FR Cite Timetable: NPRM 12/00/05 NPRM 06/12/98 63 FR 32164 Action Date FR Cite Hearing 09/09/98 Regulatory Flexibility Analysis NPRM 12/00/05 Required: NPRM Comment 09/10/98 No Period End Regulatory Flexibility Analysis Small Entities Affected: No Final Action 12/00/05 Required: Undetermined Government Levels Affected: None Regulatory Flexibility Analysis Small Entities Affected: Businesses, Agency Contact: Theodore D. Setzer Required: No Organizations Phone: 202 622–3870 Small Entities Affected: No Government Levels Affected: None RIN: 1545–AU89 Government Levels Affected: None Agency Contact: Kathleen Sleeth

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TREAS—IRS Long-Term Actions

Phone: 202 622–3920 2833. NORMAL RETIREMENT AGE 2836. CONSOLIDATED RETURNS; RIN: 1545–AW97 FOR PENSION PLANS NONAPPLICABILITY OF SECTION 357(C) Priority: Substantive, Nonsignificant. Priority: Substantive, Nonsignificant 2830. DEFINITION OF ACCOUNTING Major status under 5 USC 801 is METHOD undetermined. CFR Citation: 26 CFR 1 Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Timetable: CFR Citation: 26 CFR 1 Timetable: Action Date FR Cite Timetable: Action Date FR Cite NPRM 11/14/01 66 FR 57021 Public Hearing 03/21/02 Action Date FR Cite NPRM 12/00/06 Final Action 12/00/05 NPRM 12/00/05 Regulatory Flexibility Analysis Regulatory Flexibility Analysis Regulatory Flexibility Analysis Required: Undetermined Required: No Required: No Government Levels Affected: None Small Entities Affected: No Small Entities Affected: No Agency Contact: Janet A. Laufer Government Levels Affected: None Government Levels Affected: None Phone: 202 622–6090 Agency Contact: Thomas I. Russell Agency Contact: Grant D. Anderson RIN: 1545–AY61 Phone: 202 622–7550 Phone: 202 622–4930 RIN: 1545–BA09 RIN: 1545–AX21 2834. PAYMENTS FOR INTEREST IN PARTNERSHIP 2837. NONCOMPENSATORY 2831. DOLLAR–VALUE LIFO PARTNERSHIP OPTIONS Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 CFR Citation: 26 CFR 1 CFR Citation: 26 CFR 1 Timetable: Timetable: Timetable: Action Date FR Cite Action Date FR Cite Action Date FR Cite NPRM 12/00/05 NPRM 12/00/05 NPRM 01/22/03 68 FR 2930 Regulatory Flexibility Analysis Regulatory Flexibility Analysis Public Hearing 05/20/03 Required: No Required: No Final Action 12/00/05 Small Entities Affected: Businesses Small Entities Affected: No Regulatory Flexibility Analysis Required: No Government Levels Affected: None Government Levels Affected: None Small Entities Affected: No Agency Contact: Scott H. Rabinowitz Agency Contact: James M. Gergurich Phone: 202 622–4970 Government Levels Affected: Phone: 202 622–3070 Undetermined RIN: 1545–AY39 RIN: 1545–AY90 Federalism: Undetermined Agency Contact: Demetri G. Yatrakis 2832. SPECIAL RULES FOR S 2835. MERGERS INVOLVING Phone: 202 622–3060 CORPORATIONS DISREGARDED ENTITIES Priority: Substantive, Nonsignificant Audrey W. Ellis Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 301; 26 CFR 601 Phone: 202 622–3060 CFR Citation: 26 CFR 1 Timetable: RIN: 1545–BA53 Timetable: Action Date FR Cite Action Date FR Cite 2838. EARNINGS AND PROFITS NPRM 04/27/92 57 FR 15272 ATTRIBUTION PRINCIPLES NPRM Comment 06/26/92 NPRM 11/15/01 66 FR 57400 Period End Second NPRM 01/24/03 68 FR 3477 Priority: Substantive, Nonsignificant Next Action Undetermined Final Action 12/00/05 CFR Citation: 26 CFR 1 Regulatory Flexibility Analysis Regulatory Flexibility Analysis Timetable: Next Action Undetermined Required: No Required: No Regulatory Flexibility Analysis Small Entities Affected: No Small Entities Affected: No Required: Undetermined Government Levels Affected: None Government Levels Affected: Government Levels Affected: None Agency Contact: David A. Juster Undetermined Phone: 202 622–3850 Agency Contact: Richard M. Heinecke Federalism: Undetermined Phone: 202 622–7930 Related RIN: Split from 1545–AP35, Agency Contact: Mark R. Pollard Related to 1545–AS88 Related RIN: Related to 1545–BB46 Phone: 202 622–3850 RIN: 1545–AY44 RIN: 1545–BA06 RIN: 1545–BA93

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TREAS—IRS Long-Term Actions

2839. INVESTIGATIVE DISCLOSURES Timetable: 2845. SUBSTITUTE FOR RETURN Priority: Substantive, Nonsignificant Action Date FR Cite (SFR) AND AUTOMATED SUBSTITUTE FOR RETURN (ASFR) CFR Citation: 26 CFR 301 NPRM 07/09/03 68 FR 40857 Priority: Final Action 12/00/05 Substantive, Nonsignificant. Timetable: Major status under 5 USC 801 is Action Date FR Cite Regulatory Flexibility Analysis undetermined. NPRM 07/10/03 68 FR 41089 Required: No CFR Citation: 26 CFR 301 Final Action 12/00/05 Small Entities Affected: No Timetable: Regulatory Flexibility Analysis Government Levels Affected: None Action Date FR Cite Required: No NPRM 12/00/05 Small Entities Affected: No Agency Contact: William M. Kostak Phone: 202 622–4910 Regulatory Flexibility Analysis Government Levels Affected: Federal Required: Undetermined RIN: 1545–BB41 Agency Contact: Helene R. Newsome Government Levels Affected: Phone: 202 622–4570 Undetermined Related RIN: Related to 1545–BB17 2843. INSTALLMENT OBLIGATIONS Agency Contact: Tracey B. Leibowitz RIN: 1545–BB16 Priority: Substantive, Nonsignificant Phone: 202 622–4940 CFR Citation: 26 CFR 1 Related RIN: Related to 1545–BC46 2840. MIXED USE OUTPUT FACILITIES RIN: 1545–BC45 Timetable: Priority: Substantive, Nonsignificant Action Date FR Cite CFR Citation: 26 CFR 1 2846. PARTNERSHIPS AND DEEMED Timetable: NPRM 11/24/03 68 FR 65864 DISPOSITIONS OF UNREALIZED Final Action 12/00/05 RECEIVABLES AND INVENTORY Action Date FR Cite Regulatory Flexibility Analysis ITEMS ANPRM 09/23/02 67 FR 59767 Required: No Priority: Substantive, Nonsignificant. Next Action Undetermined Major status under 5 USC 801 is Regulatory Flexibility Analysis Small Entities Affected: No undetermined. Required: Undetermined Government Levels Affected: CFR Citation: 26 CFR 1 Government Levels Affected: Local, Undetermined Timetable: State Federalism: Undetermined Action Date FR Cite Federalism: Undetermined Agency Contact: Christopher L. Trump NPRM 12/00/05 Agency Contact: Rose M. Weber Phone: 202 622–3080 Phone: 202 622–3980 Regulatory Flexibility Analysis Required: No RIN: 1545–BB23 RIN: 1545–BB65 Small Entities Affected: No 2841. ACCRUAL RULES FOR 2844. CORPORATE Government Levels Affected: CREDITABLE FOREIGN TAXES AND REORGANIZATIONS: CONTINUITY Undetermined GUIDANCE ON CHANGE IN TAXABLE TRANSFERS OF ASSETS OR STOCK Agency Contact: Charlotte Chyr YEAR FOLLOWING A REORGANIZATION Phone: 202 622–3070 Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant RIN: 1545–BC65 CFR Citation: 26 CFR 1 CFR Citation: 26 CFR 1 Timetable: Next Action Undetermined 2847. REGULATIONS GOVERNING Timetable: Regulatory Flexibility Analysis THE PERFORMANCE OF ACTUARIAL Required: Undetermined Action Date FR Cite SERVICES UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT Small Entities Affected: Businesses NPRM 03/02/04 69 FR 9771 Final Action 12/00/05 OF 1974 Government Levels Affected: None Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis Agency Contact: Margaret A. Hogan Required: CFR Citation: 20 CFR 901 Phone: 202 622–3850 No Timetable: RIN: 1545–BB27 Small Entities Affected: No Action Date FR Cite Government Levels Affected: None 2842. AMENDMENT TO SECTION 6724 NPRM 12/00/05 Agency Contact: Rebecca O. Burch RELATING TO FAILURE TO FILE Regulatory Flexibility Analysis Phone: 202 622–7550 CORRECT INFORMATION RETURNS Required: No Priority: Substantive, Nonsignificant Related RIN: Related to 1545–BB81 Small Entities Affected: No CFR Citation: 26 CFR 1 RIN: 1545–BB80 Government Levels Affected: None

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TREAS—IRS Long-Term Actions

Agency Contact: Michael J. Roach Phone: 202 927–3080 2854. ASSET TRANSFERS Phone: 202 622–6090 RIN: 1545–BD38 FOLLOWING PUTATIVE RIN: 1545–BC82 REORGANIZATIONS 2851. BRIEF ASSET HOLDING PERIOD Priority: Substantive, Nonsignificant 2848. TREATMENT OF FOREIGN Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 STAPLED CORPORATION CFR Citation: 26 CFR 1 Timetable: Priority: Substantive, Nonsignificant Timetable: Action Date FR Cite CFR Citation: 26 CFR 1 Action Date FR Cite NPRM 08/18/04 69 FR 51209 Timetable: Final Action 12/00/05 NPRM 12/00/05 Action Date FR Cite Regulatory Flexibility Analysis Regulatory Flexibility Analysis Required: NPRM 09/07/04 69 FR 54067 Required: No No Next Action Undetermined Small Entities Affected: No Small Entities Affected: No Regulatory Flexibility Analysis Government Levels Affected: None Government Levels Affected: None Required: No Agency Contact: Tara P. Volungis Agency Contact: Jeffrey B. Fienberg Small Entities Affected: No Phone: 202 927–3080 Phone: 202 622–7770 Government Levels Affected: None RIN: 1545–BD39 RIN: 1545–BD56 Agency Contact: Robert W. Lorence Phone: 202 622–3860 2852. TRANSFERS OF RESTRICTED 2855. ∑ GUIDANCE UNDER SECTION Related RIN: Related to 1545–BD06 STOCK 6501(C)(1) REGULATIONS RIN: 1545–BD05 Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Unfunded Mandates: Undetermined 2849. STOCK HELD BY FOREIGN Timetable: Legal Authority: 26 USC 7805; 26 USC INSURANCE COMPANIES Action Date FR Cite 6501 Priority: Substantive, Nonsignificant NPRM 12/00/05 CFR Citation: 26 CFR 301 CFR Citation: 26 CFR 1 Regulatory Flexibility Analysis Legal Deadline: None Required: No Timetable: Abstract: The regulations will provide Action Date FR Cite Small Entities Affected: No guidance with respect to the statute of limitations on assessment being held NPRM 06/25/04 69 FR 35543 Government Levels Affected: None open indefinitely if someone that is Next Action Undetermined Agency Contact: Stephen B. Tackney affiliated with their return (e.g., Phone: 202 622–6030 Regulatory Flexibility Analysis preparer, appraiser, accountant, etc.) Required: No Related RIN: Related to 1545–BD45 commits fraud. Small Entities Affected: No RIN: 1545–BD44 Timetable: Government Levels Affected: None Action Date FR Cite 2853. TRANSFERS OF RESTRICTED Agency Contact: Sheila Ramaswamy STOCK (TEMPORARY) NPRM 12/00/05 Phone: 202 622–3870 Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis RIN: 1545–BD27 Required: Undetermined CFR Citation: 26 CFR 1 Government Levels Affected: Timetable: 2850. BRIEF ASSET HOLDING PERIOD Undetermined (TEMPORARY) Action Date FR Cite Additional Information: REG-144905-04 Priority: Substantive, Nonsignificant Temporary 12/00/05 Regulations Drafting attorney: Heather L. Dostaler CFR Citation: 26 CFR 1 (202) 622-4940 Regulatory Flexibility Analysis Timetable: Required: No CC: APJ Action Date FR Cite Small Entities Affected: No Agency Contact: Heather L. Dostaler, Attorney–Advisor, Department of the Temporary Regulation 12/00/05 Government Levels Affected: None Treasury, Internal Revenue Service, Regulatory Flexibility Analysis Agency Contact: Stephen B. Tackney 1111 Constitution Avenue NW, Required: No Phone: 202 622–6030 Washington, DC 20224 Government Levels Affected: None Related RIN: Related to 1545–BD44 Phone: 202 622–4940 Agency Contact: Tara P. Volungis RIN: 1545–BD45 RIN: 1545–BD73

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Department of the Treasury (TREAS) Completed Actions Internal Revenue Service (IRS)

2856. CHARITABLE CONTRIBUTIONS 2859. CONTINGENT DEBT Completed: INSTRUMENT Priority: Substantive, Nonsignificant Reason Date FR Cite Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Final Action 07/13/04 69 FR 41938 CFR Citation: 26 CFR 1 Completed by TD Completed: Completed: 9136 Reason Date FR Cite Reason Date FR Cite Regulatory Flexibility Analysis Second NPRM 07/28/04 69 FR 44988 Required: No Final Action 08/30/04 69 FR 52816 Final Action 07/28/04 69 FR 44930 Government Levels Affected: None Completed by TD Completed by TD 9143 9157 Agency Contact: Donna J. Welch Regulatory Flexibility Analysis Phone: 202 622–4910 Regulatory Flexibility Analysis Required: No Required: No Related RIN: Related to 1545–BB88 Small Entities Affected: No Small Entities Affected: No RIN: 1545–BA17 Government Levels Affected: None Government Levels Affected: None Agency Contact: Milton M. Cahn 2863. APPLICATION OF THE Agency Contact: Teresa B. Hughes Phone: 202 622–3870 FEDERAL INSURANCE Phone: 202 622–3850 RIN: 1545–AW33 CONTRIBUTIONS ACT, FEDERAL Related RIN: Related to 1545–BD47 UNEMPLOYMENT TAX ACT, AND COLLECTION OF INCOME TAX AT RIN: 1545–AP30 2860. DELAY RENTAL PAYMENTS SOURCE TO STATUTORY STOCK Priority: Substantive, Nonsignificant OPTIONS 2857. FOREIGN TAX CREDIT CFR Citation: 26 CFR 1 Priority: Substantive, Nonsignificant ANTI–ABUSE REGULATION Completed: CFR Citation: 26 CFR 31 Priority: Substantive, Nonsignificant Reason Date FR Cite Completed: CFR Citation: 26 CFR 1 Withdrawn 09/20/04 Reason Date FR Cite Completed: Regulatory Flexibility Analysis Final Action 08/03/04 69 FR 46401 Reason Date FR Cite Required: No Completed by TD 9144 Closed Without 04/27/04 Small Entities Affected: No Regulatory Flexibility Analysis Regulations Government Levels Affected: None Required: No Regulatory Flexibility Analysis Agency Contact: Brenda M. Stewart Required: No Phone: 202 622–3120 Small Entities Affected: No Small Entities Affected: No RIN: 1545–AX06 Government Levels Affected: None Government Levels Affected: None Agency Contact: Stephen B. Tackney Phone: 202 622–6030 Agency Contact: Bethany Ingwalson 2861. APPLICATION OF SEPARATE RIN: Phone: 202 622–3850 FOREIGN TAX CREDIT LIMITATIONS 1545–BA26 Priority: RIN: 1545–AV97 Substantive, Nonsignificant CFR Citation: 26 CFR 1 2864. REQUIRED DISTRIBUTIONS FROM RETIREMENT PLANS 2858. INTEREST ON EDUCATION Completed: Priority: Substantive, Nonsignificant LOANS Reason Date FR Cite CFR Citation: 26 CFR 1 Priority: Substantive, Nonsignificant Final Action 07/20/04 69 FR 43304 Completed by TD Completed: CFR Citation: 26 CFR 1 9141 Reason Date FR Cite Completed: Regulatory Flexibility Analysis Final Action 06/15/04 69 FR 33288 Reason Date FR Cite Required: No Completed by TD Final Action 05/07/04 69 FR 25489 Small Entities Affected: No 9130 Completed by TD Government Levels Affected: None Regulatory Flexibility Analysis 9125 Agency Contact: Bethany Ingwalson Required: No Regulatory Flexibility Analysis Phone: 202 622–3850 Small Entities Affected: No Required: No RIN: 1545–AX88 Government Levels Affected: None Small Entities Affected: No Agency Contact: Cathy A. Vohs Government Levels Affected: None 2862. PROCUREMENT/PURCHASING Phone: 202 622–6090 Agency Contact: Sean Dwyer CARD REPORTING Related RIN: Related to 1545–AY69, Phone: 202 622–5020 Priority: Substantive, Nonsignificant Related to 1545–AY70 RIN: 1545–AW01 CFR Citation: 26 CFR 1 RIN: 1545–BA60

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TREAS—IRS Completed Actions

2865. INTEREST OTHER THAN THAT 2868. PARTNERSHIP TRANSACTIONS 2871. REDUCED EXCLUSION OF GAIN OF A CREDITOR INVOLVING LONG–TERM FROM SALE OR EXCHANGE OF CONTRACTS PRINCIPAL RESIDENCE Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 CFR Citation: 26 CFR 1 CFR Citation: 26 CFR 1 Completed: Completed: Completed: Reason Date FR Cite Reason Date FR Cite Reason Date FR Cite Final Action 05/03/04 69 FR 24078 Completed by TD Final Action 09/03/04 69 FR 53804 Final Action 08/16/04 69 FR 50302 9124 Completed by TD Completed by TD 9137 9152 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: No Government Levels Affected: None Government Levels Affected: None Government Levels Affected: None Agency Contact: Tara P. Volungis Agency Contact: Richard T. Probst Agency Contact: Sara P. Shepherd Phone: 202 927–3080 Phone: 202 622–3060 Phone: 202 622–4960 RIN: 1545–BA69 RIN: 1545–BA81 Related RIN: Related to 1545–BB02 RIN: 1545–BB01 2866. STATUTORY OPTIONS 2869. TRANSFER OF NOTES OR STOCK TO PROVIDE FOR Priority: Substantive, Nonsignificant SATISFACTION OF CONTESTED 2872. CHANGE IN USE; ACCELERATED COST RECOVERY CFR Citation: 26 CFR 1 LIABILITIES SYSTEM Completed: Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant Reason Date FR Cite CFR Citation: 26 CFR 1 CFR Citation: 26 CFR 1 Completed: Final Action 08/03/04 69 FR 46401 Completed: Completed by TD Reason Date FR Cite 9144 Reason Date FR Cite Final Action 07/20/04 69 FR 43302 Regulatory Flexibility Analysis Completed by TD Final Action 06/17/04 69 FR 33840 Required: No 9140 Completed by TD 9132 Small Entities Affected: No Regulatory Flexibility Analysis Required: No Regulatory Flexibility Analysis Government Levels Affected: None Required: No Small Entities Affected: No Agency Contact: Erinn M. Madden Small Entities Affected: Government Levels Affected: None Businesses Phone: 202 622–6030 Agency Contact: Norma C. Rotunno Government Levels Affected: None RIN: 1545–BA75 Phone: 202 622–7900 Agency Contact: Sara L. Logan Related RIN: Related to 1545–BA91 Phone: 202 622–3110 2867. DISCLOSURE OF RELATIVE RIN: 1545–BA90 RIN: 1545–BB05 VALUE OF DISTRIBUTION FORMS Priority: Substantive, Nonsignificant 2870. PLACE FOR FILING 2873. CAPITAL ACCOUNT BOOKUP CFR Citation: 26 CFR 1 Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant Completed: CFR Citation: 26 CFR 1 CFR Citation: 26 CFR 1 Reason Date FR Cite Completed: Completed: Final Action 12/17/03 68 FR 70141 Reason Date FR Cite Reason Date FR Cite Completed by TD 9099 Final Action 09/16/04 69 FR 55743 Final Action 05/06/04 69 FR 25315 Completed by TD Completed by TD Regulatory Flexibility Analysis 9156 9126 Required: No Regulatory Flexibility Analysis Regulatory Flexibility Analysis Small Entities Affected: Businesses, Required: Undetermined Required: No Organizations Government Levels Affected: None Small Entities Affected: No Government Levels Affected: None Agency Contact: Emly B. Berndt Government Levels Affected: None Agency Contact: John T. Ricotta Phone: 202 622–4940 Agency Contact: Laura C. Nash Phone: 202 622–6060 Related RIN: Related to 1545–BB45 Phone: 202 622–3050 RIN: 1545–BA78 RIN: 1545–BB00 RIN: 1545–BB10

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TREAS—IRS Completed Actions

2874. EXCISE TAX RELATING TO 2877. DEEMED IRAS IN QUALIFIED 2880. AVAILABILITY OF SECTION STRUCTURED SETTLEMENT RETIREMENT PLANS 338(H)(10) ELECTION IN MULTISTEP FACTORING TRANSACTIONS Priority: Substantive, Nonsignificant TRANSACTIONS Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1; 26 CFR 602 Completed: CFR Citation: 26 CFR 1 Completed: Reason Date FR Cite Completed: Reason Date FR Cite Final Action 07/22/04 69 FR 43735 Reason Date FR Cite Final Action 07/08/04 69 FR 41192 Completed by TD Final Action 07/09/03 68 FR 40766 Completed by TD 9142 Completed by TD 9134 Regulatory Flexibility Analysis 9071 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: None Agency Contact: Linda L. Conway Government Levels Affected: None Agency Contact: Shareen S. Pflanz Phone: 202 622–6090 Agency Contact: Daniel F. Heins Phone: 202 622–4920 RIN: 1545–BB58 Phone: 202 622–7930 Related RIN: Related to 1545–BB24 RIN: 1545–BB14 Mary E. Goode 2878. DEEMED IRAS IN QUALIFIED Phone: 202 622–7930 RETIREMENT PLANS (TEMPORARY) Related RIN: Related to 1545–BB78 2875. ADVANCE RENTALS Priority: Substantive, Nonsignificant RIN: 1545–BB68 Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 CFR Citation: 26 CFR 1 Completed: 2881. COLLECTED EXCISE TAXES; Completed: Reason Date FR Cite DUTIES OF COLLECTOR Reason Date FR Cite (TEMPORARY) Final Action 07/22/04 69 FR 43735 Final Action 07/08/04 69 FR 41192 Completed by TD Priority: Substantive, Nonsignificant Completed by TD 9142 CFR Citation: 26 CFR 40; 26 CFR 49 9135 Regulatory Flexibility Analysis Completed: Regulatory Flexibility Analysis Required: No Required: No Reason Date FR Cite Small Entities Affected: No Small Entities Affected: No Final Action 08/10/04 69 FR 48393 Government Levels Affected: None Government Levels Affected: None Completed by TD Agency Contact: Linda L. Conway 9149 Agency Contact: Edwin B. Cleverdon Phone: 202 622–6090 Regulatory Flexibility Analysis Phone: 202 622–7900 RIN: 1545–BB59 Required: No RIN: 1545–BB44 Small Entities Affected: No 2879. SAFE HARBOR LEASING Government Levels Affected: None 2876. ADMINISTRATIVE SECOND INTEREST CAPITALIZATION Agency Contact: Taylor Cortright SIMPLIFICATION OF 481(A) (TEMPORARY) ADJUSTMENT PERIODS IN VARIOUS Phone: 202 622–3130 Priority: Substantive, Nonsignificant REGULATIONS Related RIN: Related to 1545–BB75 CFR Citation: 26 CFR 1 Priority: Substantive, Nonsignificant RIN: 1545–BB76 CFR Citation: 26 CFR 1 Completed: Completed: Reason Date FR Cite 2882. REDUCTION OF TAX Reason Date FR Cite Final Action 05/20/04 69 FR 29066 ATTRIBUTES DUE TO DISCHARGE OF Completed by TD INDEBTEDNESS INCOME Final Action 06/16/04 69 FR 33571 9129 Completed by TD Priority: Routine and Frequent Regulatory Flexibility Analysis 9131 CFR Citation: 26 CFR 1 Required: No Regulatory Flexibility Analysis Completed: Required: No Small Entities Affected: No Reason Date FR Cite Small Entities Affected: No Government Levels Affected: None Agency Contact: Final Action 05/11/04 69 FR 26038 Government Levels Affected: None Grant D. Anderson Completed by TD Agency Contact: Christian T. Wood Phone: 202 622–4930 9127 Phone: 202 622–4930 Related RIN: Related to 1545–BB62 Regulatory Flexibility Analysis RIN: 1545–BB47 RIN: 1545–BB63 Required: No

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TREAS—IRS Completed Actions

Small Entities Affected: No Regulatory Flexibility Analysis Government Levels Affected: None Required: No Government Levels Affected: None Agency Contact: Juli Ro Kim Agency Contact: Theresa M. Kolish Small Entities Affected: No Phone: 202 622–3090 Phone: 202 622–7530 Government Levels Affected: None RIN: 1545–BC85 Related RIN: Related to 1545–BC47 Agency Contact: Bernard P. Harvey Phone: 202 622–3110 RIN: 1545–BB98 2889. ELECTRONIC FILING OF RIN: 1545–BC36 DUPLICATE FORMS 5472 2883. TRANSFERS OF Priority: Substantive, Nonsignificant NONSTATUTORY STOCK OPTIONS 2886. REMEDIAL ACTIONS FOR TAX TO RELATED PERSONS EXEMPT BONDS CFR Citation: 26 CFR 1 Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant Completed: CFR Citation: 26 CFR 1 CFR Citation: 26 CFR 1 Reason Date FR Cite Completed: Completed: Hearing 05/27/04 Reason Date FR Cite Reason Date FR Cite Final Action 09/15/04 69 FR 55499 Completed by TD Final Action 08/10/04 69 FR 48392 Final Action 08/13/04 69 FR 50065 9161 Completed by TD Completed by TD 9148 9150 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: No Government Levels Affected: None Government Levels Affected: None Government Levels Affected: None Agency Contact: Edward R. Barret Agency Contact: Stephen B. Tackney Agency Contact: Gary W. Bornholdt Phone: 202 622–3880 Phone: 202 622–6030 Phone: 202 622–7870 Related RIN: Related to 1545–BD02 RIN: 1545–BC06 RIN: 1545–BC40 RIN: 1545–BD03 2884. PRESERVATION OF STOCK 2887. LIFO RECAPTURE UNDER BASIS SECTION 1362(D) 2890. DEEMED IRAS IN GOVERNMENTAL PLANS/QUALIFIED Priority: Substantive, Nonsignificant. Priority: Substantive, Nonsignificant Major status under 5 USC 801 is NONBANK TRUSTEE RULES undetermined. CFR Citation: 26 CFR 1 (TEMPORARY) Completed: CFR Citation: 26 CFR 1 Priority: Substantive, Nonsignificant Reason Date FR Cite Completed: CFR Citation: 26 CFR 1 Reason Date FR Cite Withdrawn 09/20/04 Completed: Final Action 04/26/04 69 FR 22399 Regulatory Flexibility Analysis Reason Date FR Cite Completed by TD Required: No 9122 Small Entities Affected: No Final Action 07/22/04 69 FR 43735 Regulatory Flexibility Analysis Completed by TD Government Levels Affected: None 9142 Required: No Agency Contact: Pietro E. Canestrelli Regulatory Flexibility Analysis Small Entities Affected: No Phone: 202 622–3060 Required: No Government Levels Affected: None Related RIN: Related to 1545–BD34 Small Entities Affected: No Agency Contact: Ross E. Poulsen RIN: 1545–BC66 Phone: 202 622–7770 Government Levels Affected: None RIN: 1545–BC28 2888. NIMCRUT VALUATION Agency Contact: Linda L. Conway REGULATIONS Phone: 202 622–6090 2885. DEPRECIATION OF VANS AND Priority: Substantive, Nonsignificant Related RIN: Related to 1545–BD07 LIGHT TRUCKS CFR Citation: 26 CFR 1 Priority: Substantive, Nonsignificant. RIN: 1545–BD08 Completed: CFR Citation: 26 CFR 1 Reason Date FR Cite 2891. TRANSITIONAL RULE FOR Completed: Withdrawn 08/10/04 VESTED ACCRUED VACATION PAY Reason Date FR Cite (TEMPORARY) Regulatory Flexibility Analysis Final Action 06/25/04 69 FR 35513 Required: Priority: Info./Admin./Other Completed by TD No 9133 Small Entities Affected: No CFR Citation: 26 CFR 1

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TREAS—IRS Completed Actions

Completed: 2894. SECTION 1031 TRANSITION TO Phone: 202 622–4950 Reason Date FR Cite NAICS (TEMPORARY) Related RIN: Related to 1545–BD16 Priority: Final Action 07/16/04 69 FR 42559 Substantive, Nonsignificant RIN: 1545–BD30 Completed by TD CFR Citation: 26 CFR 1 9138 Completed: 2897. CLARIFICATION OF Regulatory Flexibility Analysis Reason Date FR Cite DEFINITIONS (TEMPORARY) Required: No Final Action 08/13/04 69 FR 50067 Priority: Substantive, Nonsignificant Small Entities Affected: No Completed by TD CFR Citation: 26 CFR 301 9151 Government Levels Affected: None Completed: Regulatory Flexibility Analysis Reason Date FR Cite Agency Contact: Jamie J. Kim Required: No Phone: 202 622–4950 Small Entities Affected: Final Action 08/12/04 69 FR 49804 Fax: 2026224579 No Completed by TD RIN: 1545–BD12 Government Levels Affected: None 9153 Agency Contact: J. Peter Baumgarten Regulatory Flexibility Analysis Phone: 202 622–4950 Required: No 2892. DEEMED CORPORATE ELECTION FOR ELECTING S Related RIN: Related to 1545–BD25 Small Entities Affected: No CORPORATIONS (TEMPORARY) RIN: 1545–BD26 Government Levels Affected: None Priority: Substantive, Nonsignificant Agency Contact: Thomas D. Beem Phone: 202 622–3860 CFR Citation: 26 CFR 1 2895. ENTRY OF TAXABLE FUEL (TEMPORARY) Related RIN: Related to 1545–BD37 Completed: Priority: Substantive, Nonsignificant RIN: 1545–BD43 Reason Date FR Cite CFR Citation: 26 CFR 1 Final Action 07/20/04 69 FR 43317 ∑ Completed: 2898. GUIDANCE UNDER SECTION Completed by TD 1502; WAIVER OF LOSS CARRYOVER 9139 Reason Date FR Cite FROM SEPARATE RETURN Regulatory Flexibility Analysis Final Action 07/30/04 69 FR 45587 LIMITATION YEARS Required: No Completed by TD Priority: Substantive, Nonsignificant 9145 Small Entities Affected: Businesses Legal Authority: 26 USC 7805; 26 USC Regulatory Flexibility Analysis 1502 Government Levels Affected: Required: No Undetermined CFR Citation: 26 CFR 1 Small Entities Affected: No Legal Deadline: None Agency Contact: Rebekah A. Myers Government Levels Affected: None Phone: 202 622–3050 Abstract: This regulation affords relief Agency Contact: Celia A. Gabrysh from the deemed waiver rule of section Related RIN: Related to 1545–BC32 Phone: 202 622–3130 1.1502-32T(s)(4) by making the RIN: 1545–BD24 Related RIN: Related to 1545–BC08 application of the deemed waiver rule elective. RIN: 1545–BD29 2893. SECTION 1031 TRANSITION TO Timetable: NAICS 2896. TIME AND MANNER OF MAKING Action Date FR Cite Priority: Substantive, Nonsignificant SECTION 163(D)(4)(B) ELECTION TO Final Action 08/18/04 69 FR 51175 TREAT QUALIFIED DIVIDEND INCOME Completed by TD CFR Citation: 26 CFR 1 AS INVESTMENT INCOME 9155 Completed: Priority: Info./Admin./Other Regulatory Flexibility Analysis Required: No Reason Date FR Cite CFR Citation: 26 CFR 1 Small Entities Affected: Businesses Final Action 08/13/04 69 FR 50108 Completed: Completed by TD Government Levels Affected: None 9151 Reason Date FR Cite Additional Information: REG-129274-04 Final Action 08/05/04 69 FR 47364 Regulatory Flexibility Analysis Drafting attorney: Sean C. Mckeever Required: No Completed by TD 9147 (202) 622-8167 Small Entities Affected: No Regulatory Flexibility Analysis CC:COR Government Levels Affected: None Required: No Agency Contact: Sean C. Mckeever, Attorney, Department of the Treasury, Agency Contact: J. Peter Baumgarten Small Entities Affected: No Internal Revenue Service, 1111 Phone: 202 622–4950 Government Levels Affected: None Constitution Avenue NW, Washington, RIN: 1545–BD25 Agency Contact: Amy J. Pfalzgraf DC 20224

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TREAS—IRS Completed Actions

Phone: 202 622–8167 Phone: 202 622–7790 2901. ∑ EXTENTION OF TIME TO Related RIN: Related to 1545–BD57 RIN: 1545–BD59 ELECT METHOD FOR DETERMINING ALLOWABLE LOSS (TEMPORARY) RIN: 1545–BD58 2900. ∑ EXTENTION OF TIME TO Priority: Substantive, Nonsignificant 2899. ∑ TREATMENT OF CERTAIN ELECT METHOD FOR DETERMINING Legal Authority: 26 USC 337 (d); 26 SETTLEMENT FUNDS AS PERTAINING ALLOWABLE LOSS USC 1502; 26 USC 7805 Priority: Substantive, Nonsignificant TO PURCHASE PRICE ALLOCATIONS CFR Citation: 26 CFR 1502 IN DEEMED AND ACTUAL ASSET Legal Authority: 26 USC 337(d); 26 ACQUISITIONS (TEMPORARY) USC 1502; 26 USC 7805 Legal Deadline: None Priority: Substantive, Nonsignificant CFR Citation: 26 CFR 1 Abstract: The regulation will amend 26 Legal Authority: 26 USC 7805; 26 USC Legal Deadline: None CFR 1.1502-20T(i) to provide a new 337; 26 USC 338; 26 USC 1502 deadline for choosing to apply one of Abstract: The regulation will amend 26 the three loss disallowance rules CFR Citation: 26 CFR 1 CFR 1.1502-20T(i) to provide a new described there. The new deadline will Legal Deadline: None deadline for choosing to apply one of apply even if a taxpayer had previously the three loss disallowance rules Abstract: These regulations provide for made an irrevocable election under 26 described there. The new deadline will CFR 1.1502-20T(i). elective special treatment of certain apply even if a taxpayer had previously legally-mandated settlement funds in made an irrevocable election under 26 Timetable: the allocation of purchase price in CFR 1.1502-20T(i). deemed and actual asset acquisitions Action Date FR Cite Timetable: under sections 338 and 1060. Final Action 08/26/04 69 FR 52419 Timetable: Action Date FR Cite Completed by TD 9154 Action Date FR Cite NPRM 08/26/04 69 FR 52462 Withdrawn – No 10/20/04 Regulatory Flexibility Analysis Final Action 09/16/04 69 FR 55740 Further Action Required: No Completed by TD Anticipated 9158 Small Entities Affected: No Regulatory Flexibility Analysis Regulatory Flexibility Analysis Required: No Government Levels Affected: None Required: No Small Entities Affected: No Additional Information: REG-135898-04 Small Entities Affected: Businesses Government Levels Affected: None Drafting attorney: Martin T. Huck (202) Government Levels Affected: None Additional Information: REG-135898-04 622-7750 Additional Information: REG-169135-03 Drafting attorney: Martin T. Huck (202) Reviewing attorney: Theresa Abell (202) Drafting attorney: Richard C. Starke 622-7750 622-7700 (202) 622-7492 Reviewing attorney: Theresa Abell (202) CC:COR Reviewing attorney: Ken Cohen (202) 622-7700 622-7790 CC:COR Agency Contact: Martin T. Huck, Attorney–Advisor, Department of the Treasury attorney: Audrey Nacamuli Agency Contact: Martin T. Huck, Treasury, Internal Revenue Service, (202) 622-7790 Attorney–Advisor, Department of the 1111 Constitution Avenue NW, Treasury, Internal Revenue Service, CC:COR Washington, DC 20224 1111 Constitution Avenue NW, Phone: 202 622–7750 Agency Contact: Richard C. Starke, Washington, DC 20224 Attorney–Advisor, Department of the Phone: 202 622–7750 Related RIN: Related to 1545–BD63 Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Related RIN: Related to 1545–BD64 RIN: 1545–BD64 Washington, DC 20224 RIN: 1545–BD63 BILLING CODE 4830–01—S

Department of the Treasury (TREAS) Proposed Rule Stage Office of Thrift Supervision (OTS)

2902. RISK–BASED CAPITAL Legal Authority: 12 USC 1462; 12 USC of Governors of the Federal Reserve GUIDELINES; IMPLEMENTATION OF 1462a; 12 USC 1463; 12 USC 1464; 12 System, the Federal Deposit Insurance NEW BASEL CAPITAL ACCORD USC 1467a; 12 USC 1828 (note) Corporation, and the Office of Thrift Supervision (collectively, the ‘‘Federal CFR Citation: 12 CFR 567 Priority: Substantive, Nonsignificant. Banking Agencies’’) set forth for Major status under 5 USC 801 is Legal Deadline: None industry comment their views (at that undetermined. time) on a proposed framework for Abstract: In 2003, the Office of the implementing the New Basel Capital Unfunded Mandates: Undetermined Comptroller of the Currency, the Board

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TREAS—OTS Proposed Rule Stage

Accord in the United States. In Phone: 202 906–5654 Timetable: particular, this advance notice of Action Date FR Cite proposed rulemaking (ANPRM) Karen Osterloh, Special Counsel, described significant elements of the Department of the Treasury, Office of NPRM 11/00/04 Advanced Internal Ratings-Based Thrift Supervision, 1700 G Street NW., Regulatory Flexibility Analysis approach for credit risk and the Washington, DC 20552 Required: No Advanced Measurement Approaches for Phone: 202 906–6639 Small Entities Affected: Businesses operational risk (together, the advanced approaches). The ANPRM specified David Riley, Project Manager for Government Levels Affected: criteria that would be used to Capital Policy, Supervision Policy, Undetermined determine banking organizations that Department of the Treasury, Office of Federalism: Undetermined would be required to use the advanced Thrift Supervision, 1700 G Street NW., Agency Contact: approaches, subject to meeting certain Washington, DC 20552 Judi McCormick, qualifying criteria, supervisory Phone: 202 906–6669 Manager, Consumer Protection and standards, and disclosure requirements. Fiduciary Activities, Department of the Related RIN: Related to 1550–AB11 Other banking organizations that would Treasury, Office of Thrift Supervision, 1700 G Street NW., Washington, DC meet the criteria, standards, and RIN: 1550–AB56 requirements also would be eligible to 20552 use the advanced approaches. Under Phone: 202 906–5636 the advanced approaches, banking 2903. ∑ SECURITIES–RELATED Karen Osterloh, Special Counsel, organizations would use internal ACTIVITIES OF SAVINGS Department of the Treasury, Office of estimates of certain risk components as ASSOCIATIONS Thrift Supervision, 1700 G Street NW., key inputs in the determination of their Priority: Substantive, Nonsignificant Washington, DC 20552 regulatory capital requirements. Phone: 202 906–6639 In the fourth quarter of 2004, the Legal Authority: 12 USC 375b; 12 USC Federal Banking Agencies plan to begin 1462; 12 USC 1462a; 12 USC 1463; 12 John P. Harootunian, Senior Counsel, a quantitative impact study to help USC 1464; 12 USC 1467a; 12 USC Business Transactions Division, determine the potential impact of 1468; 12 USC 1817; 12 USC 1820; 12 Department of the Treasury, Office of implementing the capital framework set USC 1828; 12 USC 1831o; 12 USC Thrift Supervision, 1700 G Street NW., forth in the ‘‘International Convergence 3806; 42 USC 4106; 44 USC 3501 et Washington, DC 20552 of Capital Measurement and Capital seq Phone: 202 906–6415 Standards: A Revised Framework‘‘, CFR Citation: RIN: 1550–AB92 which updates and makes some 12 CFR 506; 12 CFR 545; significant revisions to the preliminary 12 CFR 559; 12 CFR 563 ∑ New Basel Capital Accord document Legal Deadline: None 2904. IDENTITY THEFT DETECTION, from 2003, upon which the above PREVENTION, AND MITIGATION ANPRM was based. Abstract: OTS is proposing to reduce PROGRAM FOR FINANCIAL INSTITUTIONS AND CREDITORS After review of the results of the regulatory burden by updating and quantitative impact study and after revising its rules on securities-related Priority: Substantive, Nonsignificant activities of savings associations. First, further review and full consideration of Legal Authority: 15 USC 1681m public comments received on the the proposed rule describes the existing CFR Citation: ANPRM, the Federal Banking Agencies authority of federal savings associations Not Yet Determined would plan to draft a notice of to engage in various securities broker, Legal Deadline: None proposed rulemaking (NPRM) for dealer, and underwriting activities under the Home Owners’ Loan Act Abstract: The banking agencies, NCUA, implementation of this capital and FTC also plan to issue a proposed framework. (HOLA). This description should reduce compliance burdens by making rule implementing section 114 of the Timetable: OTS positions regarding the FACT Act, which requires the agencies to develop guidelines for use in Action Date FR Cite permissibility of these activities readily available to all. identifying patterns, practices, and ANPRM 08/04/03 68 FR 45900 specific forms of activity that indicate ANPRM Comment 11/03/03 OTS is also updating the existing the possible existence of identity theft. Period End prohibition on the sale of debt and The agencies are also required to issue NPRM 05/00/05 equity securities issued by a savings regulations requiring each financial Regulatory Flexibility Analysis association or its affiliate at the offices institution and creditor to establish Required: No of a savings association. This change reasonable policies and procedures to will reduce burden on savings implement such guidelines. The Government Levels Affected: None associations by adding new exceptions regulations must contain a provision Agency Contact: Michael D. Solomon, and by eliminating consumer protection requiring a card issuer to notify the Senior Program Manager for Capital rules that overlap, and in some cases cardholder if the card issuer receives Policy, Supervision Policy, Department conflict, with other agency guidance. a notice of change of address for an of the Treasury, Office of Thrift Finally, the proposed rule would existing account, and a short time later Supervision, 1700 G Street NW., eliminate various obsolete OTS receives a request for an additional or Washington, DC 20552 securities activity regulations. replacement card.

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TREAS—OTS Proposed Rule Stage

Timetable: Federalism: Undetermined Glenn S. Gimble, Senior Project Manager, Thrift Policy, Department of Action Date FR Cite Agency Contact: Richard Bennett, the Treasury, Office of Thrift Counsel (Banking and Finance), NPRM 12/00/04 Supervision, 1700 G Street NW., Regulations and Legislation Division, Regulatory Flexibility Analysis Department of the Treasury, Office of Washington, DC 20552 Required: Undetermined Thrift Supervision, 1700 G Street NW., Phone: 202 906–7158 Government Levels Affected: Washington, DC 20552 RIN: 1550–AB94 Undetermined Phone: 202 906–7409

Department of the Treasury (TREAS) Final Rule Stage Office of Thrift Supervision (OTS)

2905. PROPER DISPOSAL OF Timetable: FACT Act (15 U.S.C. 1681b(g)(5)(A) and CONSUMER INFORMATION UNDER Action Date FR Cite (g)(5)(B), the Federal banking agencies THE FAIR AND ACCURATE CREDIT and the NCUA must, after notice and TRANSACTIONS ACT OF 2003 NPRM 06/08/04 69 FR 31913 comment, issue regulations on NPRM Comment 07/23/04 necessary and appropriate access by Priority: Substantive, Nonsignificant Period End creditors to medical information. Final Legal Authority: 15 USC 1681s; 15 USC Final Rule 12/00/04 regulations must be issued by June 4, 1681w Regulatory Flexibility Analysis 2004. Required: CFR Citation: 12 CFR 568; 12 CFR 570; No Abstract: The Office of the Comptroller 12 CFR 571 Government Levels Affected: None of the Currency, Federal Reserve Board, Federal Deposit Insurance Corporation, Legal Deadline: Agency Contact: Richard Bennett, Final, Statutory, Office of Thrift Supervision, and December 4, 2004. Counsel (Banking and Finance), Regulations and Legislation Division, National Credit Union Administration In accordance with section 216(a) of the published for comment proposed Fair and Accurate Credit Transactions Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., regulations implementing section 411 Act of 2003 (15 U.S.C. 1681w(a)(1)), the of the Fair and Accurate Credit Federal banking agencies, NCUA, FTC, Washington, DC 20552 Phone: 202 906–7409 Transactions Act of 2003 (FACT Act). and SEC must each issue regulations The FACT Act substantially amends the requiring proper disposal of Fair Credit Reporting Act (FCRA), 15 information derived from consumer Glenn S. Gimble, Senior Project Manager, Thrift Policy, Department of U.S.C. 1681 et seq. Section 411(a) of reports, after consulting and the FACT Act adds a new section coordinating with each other to the Treasury, Office of Thrift Supervision, 1700 G Street NW., 604(g)(1) to the FCRA to prohibit promoteconsistency. The agencies must creditors from obtaining or using assure that the regs. are consistent with Washington, DC 20552 Phone: 202 906–7158 medical information pertaining to a the Gramm-Leach-Bliley Act and other consumer in connection with any Federal law. Final regs. must be issued determination of the consumer’s by December 4, 2004. Lewis C. Angel, Senior Project Manager, Department of the Treasury, eligility, or continued eligibility, for Abstract: The Office of the Comptroller Office of Thrift Supervision, 1700 G credit. of the Currency, the Office of Thrift Street NW., Washington, DC 20552 The Agencies received comments from Supervision, the Federal Reserve Board, Phone: 202 906–5645 approximately 40 entities (and and the Federal Deposit Insurance RIN: 1550–AB87 individuals). Details of a final rule are Corporation (the Agencies) requested being reconciled among the interagency comment on a proposal to implement members, as of September 2004. section 216 of the Fair and Accurate 2906. FAIR CREDIT REPORTING Credit Transactions Act of 2003 by MEDICAL INFORMATION In addition, section 411(b) of the FACT amending the Interagency Guidelines REGULATIONS Act adds a new section 603(d)(3) to the FCRA to restrict the sharing of medical Establishing Standards for Safeguarding Priority: Substantive, Nonsignificant Customer Information. information and related lists or Legal Authority: 15 USC 1681b; 15 descriptions with affiliates. The Agencies will issue a final rule, USC 1681s Timetable: which will require each financial institution to develop, implement, and CFR Citation: 12 CFR 571 Action Date FR Cite maintain appropriate measures to Legal Deadline: Final, Statutory, June NPRM 04/28/04 69 FR 23380 properly dispose of consumer 4, 2004. NPRM Comment 05/28/04 information derived from consumer Creditors may not use a consumer’s Period End reports to address the risks associated medical information to make credit Final Rule 11/00/04 with identity theft. Each institution will determinations, except in accordance be required to implement these with the Fair and Accurate Credit Regulatory Flexibility Analysis measures as part of its information Transactions Act of 2003 (FACT Act). Required: No security program. In accordance with section 411 of the Small Entities Affected: Businesses

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TREAS—OTS Final Rule Stage

Government Levels Affected: marketing purposes to a consumer, Legal Deadline: None Undetermined unless the consumer is given notice and an opportunity and simple method Abstract: As part of its review of Agency Contact: Cindy Baltierra, regulations under section 2222 of the Program Analyst, Compliance Policy, to opt out of the making of such solicitations. Economic Growth and Regulatory Department of the Treasury, Office of Paperwork Reduction Act of 1996 (Pub. Thrift Supervision, 1700 G Street NW., The comment period closed in August L. 104-208, September 30, 1996) Washington, DC 20552 2004 and comments are currently under (EGRPRA), OTS is reducing regulatory Phone: 202 906–6540 review at the various agencies. burden on savings associations by Timetable: updating and revising various Richard Bennett, Counsel (Banking and Action Date FR Cite application and reporting requirements. Finance), Regulations and Legislation Specifically, OTS is: (1) modifying the Division, Department of the Treasury, NPRM 07/15/04 69 FR 42502 branch office and agency office Office of Thrift Supervision, 1700 G NPRM Comment 08/16/04 application and notice requirements; (2) Street NW., Washington, DC 20552 Period End harmonizing publication and public Phone: 202 906–7409 Final Rule 11/00/04 comment procedures for various RIN: 1550–AB88 Regulatory Flexibility Analysis applications and notices; and (3) Required: Yes revising the meeting procedures. OTS 2907. ∑ FAIR CREDIT REPORTING Small Entities Affected: Businesses is also eliminating various obsolete rules. AFFILIATE MARKETING Government Levels Affected: None REGULATIONS Timetable: Agency Contact: Cindy Baltierra, Priority: Substantive, Nonsignificant Program Analyst, Compliance Policy, Action Date FR Cite Legal Authority: 12 USC 1462a; 12 Department of the Treasury, Office of Interim Final Rule 01/00/05 USC 1463; 12 USC 1464; 12 USC Thrift Supervision, 1700 G Street NW., 1467a; 12 USC 1828; 12 USC 1831p–1; Washington, DC 20552 Regulatory Flexibility Analysis 12 USC 1881 to 1884; 15 USC 1681b; Phone: 202 906–6540 Required: No 15 USC.1681s; 15 USC 1681w; 15 USC Small Entities Affected: No 6801; 15 USC 6805(b)(1); PL 108–159, Richard Bennett, Counsel (Banking and sec 214, 117 Stat 1952 Finance), Regulations and Legislation Government Levels Affected: None Division, Department of the Treasury, CFR Citation: 12 CFR 571 Office of Thrift Supervision, 1700 G Agency Contact: Josephine Battle, Legal Deadline: Final, Statutory, Street NW., Washington, DC 20552 Program Analyst, Thrift Policy, September 4, 2004. Phone: 202 906–7409 Department of the Treasury, Office of Section 214 of the FACT Act adds a Related RIN: Related to 1550–AB33 Thrift Supervision, 1700 G Street NW., new section 624 of the FCRA. This new Washington, DC 20552 provision gives consumers the right to RIN: 1550–AB90 Phone: 202 906–6870 restrict a person from using certain information about a consumer obtained 2908. ∑ EGRPRA REGULATORY Don Dwyer, Director, Applications, from an affiliate to make solicitations REVIEW—APPLICATION AND Examinations and Supervision to that consumer. That section also REPORTING REQUIREMENTS Operations, Department of the requires the Agencies, in consultation Treasury, Office of Thrift Supervision, and coordination with each other, to Priority: Substantive, Nonsignificant 1700 G Street NW., Washington, DC issue regulations in final form Legal Authority: 5 USC 552; 5 USC 20552 implementing section 214 not later than 559; 12 USC 375b; 12 USC 1462; 12 Phone: 202 906–6414 9 months after the date of enactment. USC 1462a; 12 USC 1463; 12 USC These rules must become effective not 1464; 12 USC 1467a; 12 USC 1468; 12 Karen Osterloh, Special Counsel, later tha. USC 1817; 12 USC 1820; 12 USC 1828; Department of the Treasury, Office of Thrift Supervision, 1700 G Street NW., Abstract: OCC, the Board, FDIC, OTS, 12 USC 1828 note; 12 USC 1831i; 12 Washington, DC 20552 and NCUA (Agencies) published for USC 1831o; 12 USC 2810 et seq; 12 Phone: 202 906–6639 comment proposed regulations to USC 2901 et seq; 12 USC 3806; 15 USC 1691; 31 USC 5318; 42 USC 1981; 42 implement the affiliate marketing Gary Jeffers, Senior Counsel, Business provisions in section 214 of the Fair USC 1982; 42 USC 3601 to 3619; 42 USC 4106; 44 USC 3501 et seq Transactions Division, Department of and Accurate Credit Transactions Act the Treasury, Office of Thrift of 2003, which amends the Fair Credit CFR Citation: 12 CFR 506; 12 CFR 516; Supervision, 1700 G Street NW., Reporting Act. The proposed 12 CFR 528; 12 CFR 543; 12 CFR 544; Washington, DC 20552 regulations generally prohibit a person 12 CFR 545; 12 CFR 552; 12 CFR 559; Phone: 202 906–6457 from using information received from 12 CFR 563; 12 CFR 567; 12 CFR 574; an affiliate to make a soliciation for 12 CFR 575 RIN: 1550–AB93

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Department of the Treasury (TREAS) Long-Term Actions Office of Thrift Supervision (OTS)

2909. COMMUNITY REINVESTMENT 2910. ∑ COMMUNITY REINVESTMENT Timetable: ACT ACT REGULATIONS (GEOGRAPHIES) Action Date FR Cite Priority: Substantive, Nonsignificant Priority: Substantive, Nonsignificant Interim Final Rule 07/08/04 69 FR 41181 Legal Authority: 12 USC 1462a; 12 CFR Citation: 12 CFR 563e Interim Final Rule 07/08/04 USC 1463; 12 USC 1464; 12 USC Effective 1467a; 12 USC 1814; 12 USC 1816; 12 Timetable: Interim Final Rule 09/07/04 USC 1828(c); 12 USC 2901 to 2907 Comment Period Action Date FR Cite CFR Citation: 12 CFR 563e End Joint ANPRM 07/19/01 66 FR 37602 Legal Deadline: None Final Rule To Be Determined Joint ANPRM 10/17/01 Abstract: OCC, the Board, FDIC, and Regulatory Flexibility Analysis Comment Period OTS published a joint interim rule with Required: No End request for comment to conform their NPRM 02/06/04 69 FR 5729 respective regulations implementing the Government Levels Affected: None NPRM Comment 04/06/04 Community Reinvestment Act (CRA) to Period End changes in: the Standards for Defining Agency Contact: Celeste Anderson, Final Rule 08/18/04 69 FR 51155 Metropolitan and Micropolitan Program Analyst, Compliance Policy, Final Rule Effective 10/01/04 Statistical Areas published by the U.S. Department of the Treasury, Office of Second NPRM To Be Determined Office of Management and Budget Thrift Supervision, 1700 G Street NW., (OMB) in December 2000; census tracts Washington, DC 20552 Regulatory Flexibility Analysis designated by the U.S. Bureau of the Phone: 202 906–7990 Required: No Census (Census); and the Board’s Regulation C, which implements the Theresa A. Stark, Project Manager, Government Levels Affected: None Home Mortgage Disclosure Act Compliance Policy, Department of the Agency Contact: Richard Bennett (HMDA).This joint interim rule did not Treasury, Office of Thrift Supervision, Phone: 202 906–7409 make substantive changes in the 1700 G Street NW., Washington, DC requirements of the CRA regulations. 20552 Theresa A. Stark This document was published as a joint Phone: 202 906–7054 Phone: 202 906–7054 interim rule because the changes made by OMB, Census, and the Board had Richard Bennett, Counsel (Banking and Celeste Anderson already become effective. Further, Finance), Regulations and Legislation financial institutions must use OMB’s Phone: 202 906–7990 Division, Department of the Treasury, statistical area standards, Census’ Office of Thrift Supervision, 1700 G RIN: 1550–AB48 geographies, and the Board’s Regulation Street NW., Washington, DC 20552 C when adjusting assessment area Phone: 202 906–7409 delineations and collecting CRA loan data, beginning January 1, 2004. RIN: 1550–AB91

Department of the Treasury (TREAS) Completed Actions Office of Thrift Supervision (OTS)

2911. FAIR CREDIT REPORTING 2912. RISK–BASED CAPITAL Regulatory Flexibility Analysis GUIDELINES; CAPITAL ADEQUACY Required: No Priority: Substantive, Nonsignificant GUIDELINES; CAPITAL Small Entities Affected: Businesses CFR Citation: 12 CFR 571 MAINTENANCE: CONSOLIDATION OF ASSET–BACKED COMMERCIAL Government Levels Affected: None Completed: PAPER PROGRAMS AND OTHER RELATED ISSUES Reason Date FR Cite Agency Contact: Christine Smith Phone: 202 906–5740 Withdrawn 01/30/04 Priority: Substantive, Nonsignificant Regulatory Flexibility Analysis CFR Citation: 12 CFR 567 Karen Osterloh Required: No Phone: 202 906–6639 Completed: Related RIN: Merged with 1550–AB81 Small Entities Affected: No Reason Date FR Cite RIN: 1550–AB79 Government Levels Affected: None Second Interim Final 04/26/04 69 FR 22382 Rule – Extension of Agency Contact: Cindy Baltierra Applicability Date Phone: 202 906–6540 Second Interim Final 04/26/04 Rule Effective Related RIN: Related to 1550–AB90 Final Rule 07/28/04 69 FR 44908 RIN: 1550–AB33 Final Rule Effective 09/30/04

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TREAS—OTS Completed Actions

2913. INTERAGENCY PROPOSAL TO Completed: Phone: 202 906–6540 CONSIDER ALTERNATIVE FORMS OF Reason Date FR Cite RIN: 1550–AB86 PRIVACY NOTICES UNDER THE [FR Doc. 04–25764 Filed 12–10–04; 8:45 am] GRAMM–LEACH–BLILEY ACT Withdrawn – No 06/12/04 Further Participation BILLING CODE 6720–01–S Priority: Substantive, Nonsignificant. Anticipated Major status under 5 USC 801 is Regulatory Flexibility Analysis undetermined. Required: No Government Levels Affected: CFR Citation: None Undetermined Federalism: Undetermined Agency Contact: Cindy Baltierra

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