[Federal Register Volume 69, Number 178 (Wednesday, September 15, 2004)]
[Rules and Regulations]
[Pages 55499-55500]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-20804]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9161]
RIN 1545-BD03


Electronic Filing of Duplicate Forms 5472

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Final regulation and removal of temporary regulation.

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SUMMARY: This document contains a final regulation providing that a 
Form 5472 that is timely filed electronically is treated as satisfying 
the requirement timely to file a duplicate Form 5472 with the Internal 
Revenue Service Center in Philadelphia, Pennsylvania. This action is 
necessary to clarify how the duplicate filing requirements for Form 
5472 apply when a reporting corporation electronically files its income 
tax return (including any attachments such as Form 5472). This document 
affects corporations subject to the reporting requirements in sections 
6038A and 6038C that file Form 5472 electronically.

DATES: Effective Date: This regulation is effective September 15, 2004.
    Applicability Date: For the dates of applicability, see Sec. Sec.  
1.6038A-1(n) and 1.6038A-2(h).

FOR FURTHER INFORMATION CONTACT: Edward R. Barret, (202) 622-3880 (not 
a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    On February 9, 2004, final and temporary regulations (TD 9113) 
relating to the duplicate filing requirements for Form 5472 were 
published in the Federal Register (69 FR 5931). The temporary 
regulation addressed how the duplicate filing requirements for Form 
5472 apply when a reporting corporation electronically files its income 
tax return (including any attachments such as Form 5472). On February 
9, 2004, a notice of proposed rulemaking and public hearing (REG-
167217-03) was also published in the Federal Register (69 FR 5940) with 
respect to the provisions of the temporary regulation. No written or

[[Page 55500]]

electronic comments were received in response to the notice of proposed 
rulemaking. No requests to speak at the public hearing were received, 
and, accordingly, the hearing was canceled.

Explanation of Provisions

    This Treasury decision adopts the language of the proposed 
regulation without change. The temporary regulation is removed.

Special Analyses

    It has been determined that this Treasury decision is not a 
significant regulatory action as defined in Executive Order 12866. 
Therefore, a regulatory assessment is not required. It also has been 
determined that section 553(b) of the Administrative Procedure Act (5 
U.S.C. chapter 5) does not apply to this regulation, and because this 
regulation does not impose a collection of information on small 
entities, the Regulatory Flexibility Act (5 U.S.C. chapter 6) does not 
apply. Pursuant to section 7805(f) of the Code, the notice of proposed 
rulemaking preceding this regulation was submitted to the Chief Counsel 
for Advocacy of the Small Business Administration for comment on its 
impact on small businesses.

Drafting Information

    The principal author of this regulation is Edward R. Barret, Office 
of the Associate Chief Counsel (International). However, other 
personnel from the IRS and Treasury Department participated in its 
development.

List of Subjects in 26 CFR Part 1

    Income taxes, Reporting and recordkeeping requirements.

Adoption of amendments to the Regulations

0
Accordingly, 26 CFR part 1 is amended as follows:

PART 1--INCOME TAXES

0
Paragraph 1. The authority citation for part 1 continues to read in 
part as follows:

    Authority: 26 U.S.C. 7805 * * *


0
Par. 2. Section 1.6038A-1 is amended by revising paragraph (n)(2) to 
read as follows:


Sec.  1.6038A-1  General requirements and definitions.

* * * * *
    (n) * * * (1) * * *
    (2) Section 1.6038A-2. Section 1.6038A-2 (relating to the 
requirement to file Form 5472) generally applies for taxable years 
beginning after July 10, 1989. However, Sec.  1.6038A-2 as it applies 
to reporting corporations whose sole trade or business in the United 
States is a banking, financing, or similar business as defined in Sec.  
1.864-4(c)(5)(i) applies for taxable years beginning after December 10, 
1990. The final sentence of Sec.  1.6038A-2(d) applies for taxable 
years ending on or after January 1, 2003. For taxable years ending 
prior to January 1, 2003, see Sec.  1.6038A-2(d) in effect prior to 
January 1, 2003 (see 26 CFR part 1 revised as of April 1, 2002).
* * * * *
0
Par. 3. Section 1.6038A-2 is amended by revising paragraph (d) to read 
as follows:


Sec.  1.6038A-2  Requirement of return.

* * * * *
    (d) Time and place for filing returns. A Form 5472 required under 
this section shall be filed with the reporting corporation's income tax 
return for the taxable year by the due date (including extensions) of 
that return. A duplicate Form 5472 (including any attachments and 
schedules) shall be filed at the same time with the Internal Revenue 
Service Center, Philadelphia, PA 19255. A Form 5472 that is timely 
filed electronically satisfies the duplicate filing requirement.
* * * * *


Sec.  1.6038A-2T  [Removed]

0
Par. 4. Section 1.6038A-2T is removed.

Mark E. Matthews,
Deputy Commissioner for Services and Enforcement.
    Approved: August 30, 2004.
Gregory Jenner,
Acting Assistant Secretary of the Treasury.
[FR Doc. 04-20804 Filed 9-14-04; 8:45 am]
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