[Federal Register Volume 69, Number 244 (Tuesday, December 21, 2004)]
[Proposed Rules]
[Pages 76422-76423]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-27918]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Parts 1 and 31

[REG-155608-02]
RIN 1545-BB64


Revised Regulations Concerning Section 403(b) Tax-Sheltered 
Annuity Contracts; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to notice of proposed rulemaking and notice of 
proposed rulemaking by cross-reference to temporary regulations.

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SUMMARY: This document corrects a notice of proposed rulemaking and 
notice of proposed rulemaking by cross-reference to temporary 
regulations (REG-155608-02) that was published in the Federal Register 
on Tuesday, November 16, 2004 (69 FR 67075). The proposed regulations 
provide updated guidance on section 403(b) contracts of public schools 
and tax-exempt organizations described in section 501(c)(3).

FOR FURTHER INFORMATION CONTACT: R. Lisa Mojiri-Azad or JohnTolleris at 
(202) 622-6060 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The notice of proposed rulemaking and notice of proposed rulemaking 
by cross reference to temporary regulations (REG-155608-02) that is the 
subject of this correction are under sections 403(b) of the Internal 
Revenue Code, and under related provisions of sections 402(b), 402(g), 
414(c), and 3121(a)(5)(D).

Need for Correction

    As published, the notice of proposed rulemaking and notice of 
proposed rulemaking by cross reference to

[[Page 76423]]

temporary regulations REG-155608-02) contains errors that may prove to 
be misleading and are in need of clarification.

Correction of Publication

    Accordingly, the notice of proposed rulemaking and notice of 
proposed rulemaking by cross reference to temporary regulations (REG-
155608-02), which was the subject of FR Doc. 04-25237 is corrected as 
follows:
    1. On page 67082, column 2, in the preamble, under the paragraph 
heading ``Commingling Assets'', line 8, the language ``account to be 
treated as a tax exempt.'' is corrected to read ``account to be treated 
as a tax exempt organization.''.


Sec.  1.403(b)-8  [Corrected]

    2. On page 67096, column 3, Sec.  1.403(b)-8, paragraph (d)(2)(ii), 
line 4, the language ``account) Sec.  1.403(b)-6(d) are satisfied'' is 
corrected to read ``account) and Sec.  1.403(b)-6(d) are satisfied''.
    3. On page 67096, column 3, Sec.  1.403(b)-8, paragraph (d)(3), 
line 4, the language ``includes any assets that other than stock'' is 
corrected to read ``includes any assets other than stocks''.


Sec.  1.414(c)-5  [Corrected]

    4. On page 67099, column 3, Sec.  1.414(c)-5, paragraph (d), line 
7, the language under the nursing home may be under'' is corrected to 
read ``the nursing home may be under''.

Cynthia E. Grigsby,
Acting Chief, Publications and Regulations Branch, Legal Processing 
Division, Associate Chief Counsel, (Procedures and Administration).
[FR Doc. 04-27918 Filed 12-20-04; 8:45 am]
BILLING CODE 4830-01-P