{"abstract":"This document contains proposed regulations providing guidance regarding corporate formations, reorganizations, and liquidations of insolvent corporations. These regulations provide rules requiring the exchange (or, in the case of section 332, a distribution) of net value for the nonrecognition rules of subchapter C to apply to the transaction. The regulations also provide guidance on determining when and to what extent creditors of a corporation will be treated as proprietors of the corporation in determining whether continuity of interest is preserved in a potential reorganization. Finally, the regulations provide guidance on whether a distribution in cancellation or redemption of less than all of the shares one corporation owns in another corporation satisfies the requirements of section 332. The proposed regulations affect corporations and their shareholders.","action":"Notice of proposed rulemaking.","agencies":[{"raw_name":"DEPARTMENT OF THE TREASURY","name":"Treasury Department","id":497,"url":"https://www.federalregister.gov/agencies/treasury-department","json_url":"https://www.federalregister.gov/api/v1/agencies/497","parent_id":null,"slug":"treasury-department"},{"raw_name":"Internal Revenue Service","name":"Internal Revenue Service","id":254,"url":"https://www.federalregister.gov/agencies/internal-revenue-service","json_url":"https://www.federalregister.gov/api/v1/agencies/254","parent_id":497,"slug":"internal-revenue-service"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2005/03/10/05-4384.html","cfr_references":[{"chapter":null,"citation_url":null,"part":1,"title":26}],"citation":"70 FR 11903","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"Written and electronic comments and requests for a public hearing must be received by June 8, 2005.","disposition_notes":null,"docket_ids":["REG-163314-03"],"dockets":[],"document_number":"05-4384","effective_on":null,"end_page":11912,"executive_order_notes":null,"executive_order_number":null,"explanation":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2005/03/10/05-4384.xml","html_url":"https://www.federalregister.gov/documents/2005/03/10/05-4384/transactions-involving-the-transfer-of-no-net-value","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/05-4384?publication_date=2005-03-10","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2005-03-10/05-4384/mods.xml","not_received_for_publication":null,"page_length":10,"page_views":{"count":900,"last_updated":"2026-04-04 18:15:03 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2005-03-10/pdf/05-4384.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":null,"publication_date":"2005-03-10","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2005/03/10/05-4384.txt","regulation_id_number_info":{"1545-BC88":{"issue":"200404","html_url":"https://www.federalregister.gov/regulations/1545-BC88/transactions-involving-the-transfer-of-no-net-equity-value","title":"Transactions Involving the Transfer of No Net Equity Value","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=200404&RIN=1545-BC88&operation=OPERATION_EXPORT_XML","priority_category":"Substantive, Nonsignificant"}},"regulation_id_numbers":["1545-BC88"],"regulations_dot_gov_info":{"checked_regulationsdotgov_at":"2011-11-12T15:43:35Z"},"regulations_dot_gov_url":null,"significant":false,"signing_date":null,"start_page":11903,"subtype":null,"title":"Transactions Involving the Transfer of No Net Value","toc_doc":"Transactions involving the transfer of no net value","toc_subject":"Income taxes:","topics":["Income taxes","Reporting and recordkeeping requirements"],"type":"Proposed Rule","volume":70}