[Federal Register Volume 68, Number 217 (Monday, November 10, 2003)]
[Rules and Regulations]
[Pages 63734-63735]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-28202]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Parts 1, 31, and 602

[TD 9092]
RIN 1545-BA44


Split-Dollar Life Insurance Arrangements; 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 Wednesday, September 17, 2003 
(68 FR 54336), relating to the income,

[[Page 63735]]

employment, and gift taxation of split-dollar life insurance 
arrangements.

DATES: These corrections are effective September 17, 2003.

FOR FURTHER INFORMATION CONTACT: Rebecca Asta at (202) 622-3930 (not a 
toll-free number).

SUPPLEMENTARY INFORMATION: 

Background

    The final regulations that are the subject of these corrections are 
under sections 61, 83, 301, and 7872 of the Internal Revenue Code.

Need for Correction

    As published, final regulations (TD 9092) contains errors that may 
prove to be misleading and are in need of clarification.

Correction of Publication

    Accordingly, the publication of final regulations (TD 9092), that 
was the subject of FR Doc. 03-23596, is corrected as follows:
    1. On page 54344, column 1, in the preamble, under the paragraph 
heading ``Effective Date and Obsolescence of Prior Guidance'', second 
paragraph, line 13, the language ``arrangement does not fall with the'' 
is corrected to read ``arrangement does not fall within the''.
    2. On page 54344, column 2, in the preamble, the paragraph heading 
``Proposed Amendments to the Regulations'' is corrected to read 
``Adoption of Amendments to the Regulations'.


Sec.  1.61-22  [Corrected]

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3. On page 54347, column 1, Sec.  1.61-22(d)(3)(i), last line of the 
column, the language, ``owner under paragraph (d)(1) for the'' is 
corrected to read ``owner under paragraph (d)(1) of this section for 
the''.

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4. On page 54347, column 2, Sec.  1.61-22(d)(4)(ii)(A), last line of 
the paragraph, the language, ``right and;'' is corrected to read 
``right; and''.

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5. On page 54347, column 2, Sec.  1.61-22(d)(5)(ii), line 2, the 
language, ``owner and non-owner of the split-dollar'' is corrected to 
read ``owner and non-owner of the split-dollar life insurance''.

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6. On page 54350, column 2, Sec.  1.61-22(h), Example 1., paragraph 
(ii), line 6, the language, ``whether of R were designated as the 
policy'' is corrected to read ``whether R were designated as the 
policy''.

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7. On page 54351, column 1, Sec.  1.61-22(h), Example 4., paragraph 
(ii), line 3, the language, ``the arrangement during in each such 
year.'' is corrected to read ``the arrangement in each such year.''

Cynthia E. Grigsby,
Acting Chief, Publications and Regulations Branch, Legal Processing 
Division, Associate Chief Counsel (Procedure and Administration).
[FR Doc. 03-28202 Filed 11-7-03; 8:45 am]
BILLING CODE 4830-01-P