[Federal Register Volume 80, Number 151 (Thursday, August 6, 2015)]
[Rules and Regulations]
[Page 46795]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-19364]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9723]
RIN 1545-BM73


Suspension of Benefits Under the Multiemployer Pension Reform Act 
of 2014; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

-----------------------------------------------------------------------

SUMMARY: This document contains corrections to temporary regulations 
(TD 9723) that were published in the Federal Register on Friday, June 
19, 2015 (80 FR 35207). The temporary regulations relate to 
multiemployer pension plans that are projected to have insufficient 
funds, at some point in the future, to pay the full benefits to which 
individuals will be entitled under the plans (referred to as plans in 
``critical and declining status'').

DATES: This correction is effective August 6, 2015 and applicable June 
19, 2015.

FOR FURTHER INFORMATION CONTACT: Department of the Treasury MPRA 
guidance information line at (202) 622-1559 (not a toll-free number).

SUPPLEMENTARY INFORMATION: 

Background

    The temporary regulations (TD 9723) that are the subject of this 
correction are under section 432(e)(9) of the Internal Revenue Code.

Need for Correction

    As published, the temporary regulations (TD 9723) contain an error 
that may prove to be misleading and are in need of clarification.

List of Subjects in 26 CFR Part 1

    Income taxes, Reporting and recordkeeping requirements.

Correction of Publication

    Accordingly, 26 CFR part 1 is amended by making the following 
correcting amendments:

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 1.432(e)(9)-1T is amended by revising the first 
sentence of paragraph (g)(1)(v) to read as follows:


Sec.  1.432(e)(9)-1T  Benefit suspensions for multiemployer plans in 
critical and declining status (temporary).

* * * * *
    (g) * * *
    (1) * * *
    (v) * * * An application for suspension that is not submitted in 
combination with an application to PBGC for a plan partition under 
section 4233 of ERISA generally will not be accepted unless the 
proposed effective date of the suspension is at least nine months from 
the date on which the application is submitted. * * *

Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2015-19364 Filed 8-5-15; 8:45 am]
BILLING CODE 4830-01-P