[Federal Register Volume 87, Number 60 (Tuesday, March 29, 2022)]
[Rules and Regulations]
[Pages 17950-17951]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-06669]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1


Income Taxes

CFR Correction

    This rule is being published by the Office of the Federal Register 
to correct an editorial or technical error that appeared in the most 
recent annual revision of the Code of Federal Regulations.

0
In Title 26 of the Code of Federal Regulations, Part 1 (Sec. Sec.  
1.301 to 1.400), revised as of April 1, 2021, in Sec.  1.351-3, revise 
paragraph (f) to read as follows:


Sec.  1.351-3   Records to be kept and information to be filed.

* * * * *
    (f) Effective/applicability date. This section applies to any 
taxable year beginning on or after May 30, 2006. However, taxpayers may 
apply this section to any original Federal income tax return (including 
any amended return filed on or before the due date (including 
extensions) of such original return) timely filed on or after May 30, 
2006. For taxable years beginning before May 30, 2006, see Sec.  1.351-
3 as contained in 26 CFR part 1 in effect on April 1, 2006. Paragraphs 
(a)(3) and (b)(3) of this section apply with respect to exchanges under 
section 351 occurring on or after March 28, 2016, and also with respect 
to exchanges under section 351 occurring before such date as a result 
of an entity classification election under Sec.  301.7701-3 of this 
chapter filed on or after March 28, 2016, unless such exchange is 
pursuant to a binding agreement that was in effect

[[Page 17951]]

prior to March 28, 2016 and at all times thereafter.

[FR Doc. 2022-06669 Filed 3-28-22; 8:45 am]
BILLING CODE 0099-10-D