[Federal Register Volume 65, Number 229 (Tuesday, November 28, 2000)]
[Rules and Regulations]
[Pages 70791-70792]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-30265]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 25

[TD 8899]
RIN 1545-AW25


Definition of a Qualified Interest in a Grantor Retained Annuity 
Trust and a Grantor Retained Unitrust; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to final regulations.

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SUMMARY: This document contains corrections to final regulations that 
were published in the Federal Register on Tuesday, September 5, 2000 
(65 FR 53587), relating to the definition of a qualified interest under 
section 2702 of the Internal Revenue Code.

DATES: This correction is effective September 5, 2000.

FOR FURTHER INFORMATION CONTACT: James F. Hogan (202) 622-3090 (not a 
toll-free number).

[[Page 70792]]


SUPPLEMENTARY INFORMATION:

Background

    The final regulations that are subject of these corrections are 
under section 2702 of the Internal Revenue Code.

Need for Correction

    As published, final regulations (TD 8899) contain errors that may 
prove to be misleading and are in need of clarification.

Correction of Publication

    Accordingly, the publication of the final regulations (TD 8899), 
which were the subject of FR Doc. 00-22544, is corrected as follows:


Sec. 25.2702-3  [Corrected]

    1. On page 53589, column 1, Sec. 25.2702-3(b)(3), the paragraph 
heading ``Payment of annuity amount.'' is corrected to read ``Period 
for payment of annuity amount.''.

    2. On page 53589, column 1, Sec. 25.2702-3(b)(4), first sentence, 
the language ``An annuity amount payable based on the anniversary date 
of the creation of the trust must be paid by the anniversary date.'' is 
corrected to read ``An annuity amount payable based on the anniversary 
date of the creation of the trust must be paid no later than 105 days 
after the anniversary date.''.

    3. On page 53589, column 2, Sec. 25.2702-3(c)(3), the paragraph 
heading ``Payment of unitrust amount.'' is corrected to read ``Period 
for payment of unitrust amount.''.

    4. On page 53589, column 2, Sec. 25.2702-3(c)(4), first sentence, 
``A unitrust amount payable based on the anniversary date of the 
creation of the trust must be paid by the anniversary date.'' is 
corrected to read ``A unitrust amount payable based on the anniversary 
date of the creation of the trust must be paid no later than 105 days 
after the anniversary date.''.

Cynthia E. Grigsby,
Chief, Regulations Unit, Office of Special Counsel (Modernization & 
Strategic Planning).
[FR Doc. 00-30265 Filed 11-27-00; 8:45 am]
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