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Proposed Rule

Reporting of Specified Foreign Financial Assets; Correction

Action

Proposed Rule; Correction.

Summary

This document contains corrections to a notice of proposed rulemaking (REG-130302-10), which was published in the Federal Register on Monday, December 19, 2011, relating to the reporting of specified foreign financial assets.

Unified Agenda

Information With Respect to Foreign Financial Assets

3 actions from December 19th, 2011 to December 2014

  • December 19th, 2011
  • March 19th, 2012
    • NPRM Comment Period End
  • December 2014
    • Final Action
 

Table of Contents Back to Top

FOR FURTHER INFORMATION CONTACT: Back to Top

Joseph S. Henderson (202) 622-3880 (not a toll-free number).

SUPPLEMENTARY INFORMATION: Back to Top

Background Back to Top

The notice of proposed rulemaking that is the subject of these corrections are under section 6038 of the Internal Revenue Code.

Need for Correction Back to Top

As published on December 19, 2011, (76 FR 78594), the notice of proposed rulemaking (REG-130302-10), contains errors which may prove to be misleading and are in need of clarification.

List of Subjects in 26 CFR Part 1 Back to Top

begin regulatory text

PART 1—INCOME TAXES Back to Top

Paragraph 1. The authority citation for part 1 continues to read in part as follows:

Authority:

26 U.S.C. 7805 * * *

PART 1—[CORRECTED] Back to Top

Par. 2. Section 1.6038D-6 is amended by revising paragraph (d)(3) to read as follows:

§ 1.6038D-6 Specified domestic entities.

* * * * *

(d) * * *

(3) * * * A trust described in section 7701(a)(30)(E) to the extent such trust or any portion thereof is treated as owned by one or more specified persons under sections 671 through 678 and the regulations issued under those sections.

* * * * *

Guy R. Traynor,

Federal Register Liaison, Legal Processing Division, Publications and Regulations Br., Procedure and Administration.

end regulatory text

[FR Doc. 2012-3933 Filed 2-17-12; 8:45 am]

BILLING CODE 4830-01-P

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