[Federal Register Volume 78, Number 251 (Tuesday, December 31, 2013)]
[Proposed Rules]
[Page 79652]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-30844]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-113350-13]
RIN 1545-BL56


Taxation of U.S. Persons That Are Shareholders of Section 1291 
Funds

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Partial withdrawal of notice of proposed rulemaking.

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SUMMARY: This document withdraws a portion of a proposed rulemaking 
(INTL-656-87, REG-209054-87) published in the Federal Register on April 
1, 1992. The withdrawn portion relates to the definitions of the terms 
pedigreed QEF, section 1291 fund, shareholder, and indirect 
shareholder, and to annual information reporting requirements 
applicable to certain shareholders of passive foreign investment 
companies (PFICs).

DATES: The proposed rule published in the Federal Register on April 1, 
1992 (57 FR 11024) is withdrawn as of December 31, 2013

FOR FURTHER INFORMATION CONTACT: Susan E. Massey or Barbara E. Rasch, 
(202) 317-6934 (not a toll-free number).

SUPPLEMENTARY INFORMATION: 

Background

    On April 1, 1992, the IRS and the Department of the Treasury 
(Treasury Department) published in the Federal Register proposed 
regulations (INTL-656-87, 1992-18 IRB 23, 57 FR 11024), including Sec.  
1.1291-1 that provided guidance on the PFIC rules, including 
definitions of the terms pedigreed QEF, section 1291 fund, shareholder, 
and indirect shareholder. The proposed regulations also set forth 
annual reporting requirements for certain shareholders of PFICs. This 
document withdraws the definitions of the terms pedigreed QEF, section 
1291 fund, shareholder, and indirect shareholder. In addition, this 
document withdraws the annual reporting requirements. The IRS and the 
Treasury Department are issuing a notice of proposed rulemaking in the 
Proposed Rules section of this issue of the Federal Register on this 
subject that defines the terms pedigreed QEF, section 1291 fund, 
shareholder, and indirect shareholder, and that sets forth annual 
information reporting requirements for certain shareholders of PFICs.

List of Subjects in 26 CFR Part 1

    Income taxes, Reporting and recordkeeping requirements.

Partial Withdrawal of a Notice of Proposed Rulemaking

    Accordingly, under the authority of 26 U.S.C. 7805, Sec.  1.1291-
1(b)(2)(ii), (b)(2)(v), (b)(7), (b)(8), and (i) of the notice of 
proposed rulemaking (INTL-656-87, REG-209054-87) published in the 
Federal Register on April 1, 1992 (57 FR 11024) are withdrawn.

John Dalrymple,
Deputy Commissioner for Services and Enforcement.
[FR Doc. 2013-30844 Filed 12-30-13; 8:45 am]
BILLING CODE 4830-01-P