[Federal Register Volume 80, Number 235 (Tuesday, December 8, 2015)]
[Rules and Regulations]
[Pages 76205-76206]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-30869]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9739]
RIN 1545-BF51; 1545-BM78


Reorganizations Under Section 368(a)(1)(F); Section 367(a) and 
Certain Reorganizations Under Section 368(a)(1)(F); Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

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SUMMARY: This document contains corrections to final regulations (TD 
9739) that provide guidance regarding the qualification of a 
transaction as a corporate reorganization under section 368(a)(1)(F), 
and which were published in the Federal Register on Monday, September 
21, 2015 (80 FR 56904).

DATES: This correction is effective December 8, 2015 and applicable 
September 21, 2015.

FOR FURTHER INFORMATION CONTACT: Douglas C. Bates at (202) 317-6065 
(not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations (TD 9739) that are the subject of this 
correction are under section 367 and 368 of the Internal Revenue Code.

Need for Correction

    As published, the final regulation (TD 9739) contains errors 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 1.368-2 is amended by revising the last sentence of 
paragraph (m)(4) Example 5. and revising the third sentence of Example 
7. to read as follows:


Sec.  1.368-2  Definition of terms.

* * * * *
    (m) * * *
    (4) * * *
    Example 5. * * * The result would be the same with respect to 
qualification under section 368(a)(1)(F) if, instead of merging into 
S2, S1 completely liquidates or is deemed to liquidate by reason of 
a conversion in an entity disregarded as separate from its owner 
under Sec.  301.7701-3 of this chapter.
* * * * *

[[Page 76206]]

    Example 7. * * * Each of T, P, and S is a State A corporation 
engaged in a manufacturing business.
* * * * *

Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2015-30869 Filed 12-7-15; 8:45 am]
BILLING CODE 4830-01-P