[Federal Register Volume 85, Number 88 (Wednesday, May 6, 2020)]
[Rules and Regulations]
[Page 26848]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-08113]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9806]
RIN 1545-BK66


Definitions and Reporting Requirements for Shareholders of 
Passive Foreign Investment Companies; Correcting Amendment

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

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SUMMARY: This document contains corrections to Treasury Decision 9806, 
which was published in the Federal Register on Wednesday, December 28, 
2016. Treasury Decision 9806 contained final regulations that provided 
guidance on determining ownership of a passive foreign investment 
company (PFIC) and on certain annual reporting requirements for 
shareholders of PFICs to file Form 8621, ``Information Return by a 
Shareholder of a Passive Foreign Investment Company or Qualified 
Electing Fund.''

DATES: These final regulations are effective on and after May 6, 2020, 
and are applicable on or after December 28, 2016.

FOR FURTHER INFORMATION CONTACT: Martin V. Franks at (202) 317-5181 
(not a toll-free number).

SUPPLEMENTARY INFORMATION: 

Background

    The final regulations (TD 9806) that are the subject of this 
correction are under sections 1291, 1298, 6038, and 6046 of the 
Internal Revenue Code.

Need for correction

    As published December 28, 2016 (81 FR 95459), the final regulations 
(TD 9806; FR Doc. 2016-30712) contained errors that needs to be 
corrected.

List of Subjects in 26 CFR Part 1

    Income taxes, Reporting and recordkeeping requirements.

Correction of Publication

    Accordingly, 26 CFR part 1 is corrected by making the following 
correcting amendment:

PART 1--INCOME TAXES

0
1. The authority citation for part 1 is amended by removing the entry 
for Sec. Sec.  1.1291-1T, 1.1291-9, 1.1291-9T, and 1.1298-1T and the 
entry for Sec.  1.6046-1T to read in part as follows:

    Authority: 26 U.S.C. 7805, unless otherwise noted.
* * * * *

Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2020-08113 Filed 5-5-20; 8:45 am]
 BILLING CODE 4830-01-P