[Federal Register Volume 73, Number 148 (Thursday, July 31, 2008)]
[Rules and Regulations]
[Page 44648]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-17500]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 20

[TD 9414]
RIN 1545-BE52


Grantor Retained Interest Trusts--Application of Sections 2036 
and 2039; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

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SUMMARY: This document contains a correction to final regulations (TD 
9414) that were published in the Federal Register on Monday, July 14, 
2008 (73 FR 40173). The final regulations provide guidance on the 
portion of property transferred to a trust or otherwise, that is 
properly includible in a grantor's gross estate under Internal Revenue 
Code (Code) sections 2036 and 2039 if the grantor has retained the use 
of the property or the right to an annuity, unitrust, or other payment 
from such property for life, for any period not ascertainable without 
reference to the grantor's death, or for a period that does not in fact 
end before the grantor's death.

DATES: The correction is effective on July 31, 2008 and applicable to 
the estates of decedents dying after August 16, 1954.

SUPPLEMENTARY INFORMATION: 

Background

    The final regulations (TD 9414) that is the subject of this 
correction are under sections 2036 and 2039 of the Code.

List of Subjects for 26 CFR Part 20

    Estate taxes, Reporting and recordkeeping requirements.

Correction of Publication

0
Accordingly, 26 CFR part 20 is corrected by making the following 
correcting amendment:

PART 20--ESTATE TAX; ESTATES OF DECEDENTS DYING AFTER AUGUST 16, 
1954

0
Paragraph 1. The authority citation for part 20 continues to read in 
part as follows:

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


0
Par. 2. Section 20.2036-1 is amended by adding paragraph (a)(3)(ii) to 
read as follows:


Sec.  20.2036-1   Transfers with retained life estate.

    (a) * * *
    (3) * * *
    (ii) The right, either alone or in conjunction with any other 
person or persons, to designate the person or persons who shall possess 
or enjoy the transferred property or its income (except that, if the 
transfer was made before June 7, 1932, the right to designate must be 
retained by or reserved to the decedent alone).
* * * * *

Cynthia E. Grigsby,
Senior Federal Register Liaison Officer, Publications and Regulations 
Branch, Legal Processing Division, Associate Chief Counsel (Procedure 
and Administration).
[FR Doc. E8-17500 Filed 7-30-08; 8:45 am]
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