This PDF is the current document as it appeared on Public Inspection on 08/05/2015 at 08:45 am.
Internal Revenue Service (IRS), Treasury.
This document contains corrections to temporary regulations (TD 9723) that were published in the Federal Register on Friday, June 19, 2015 (80 FR 35207). The temporary regulations relate to multiemployer pension plans that are projected to have insufficient funds, at some point in the future, to pay the full benefits to which individuals will be entitled under the plans (referred to as plans in “critical and declining status”).
This correction is effective August 6, 2015 and applicable June 19, 2015.Start Further Info
FOR FURTHER INFORMATION CONTACT:
Department of the Treasury MPRA guidance information line at (202) 622-1559 (not a toll-free number).End Further Info End Preamble Start Supplemental Information
The temporary regulations (TD 9723) that are the subject of this correction are under section 432(e)(9) of the Internal Revenue Code.
Need for Correction
As published, the temporary regulations (TD 9723) contain an error that may prove to be misleading and are in need of clarification.Start List of Subjects
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:Start Part
PART 1—INCOME TAXESEnd Part Start Amendment Part
Paragraph 1. The authority citation for part 1 continues to read in part as follows:End Amendment Part Start Amendment Part
Par. 2. Section 1.432(e)(9)-1T is amended by revising the first sentence of paragraph (g)(1)(v) to read as follows:End Amendment Part
(g) * * *
(1) * * *
(v) * * * An application for suspension that is not submitted in combination with an application to PBGC for a plan partition under section 4233 of ERISA generally will not be accepted unless the proposed effective date of the suspension is at least nine months from the date on which the application is submitted. * * *
Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2015-19364 Filed 8-5-15; 8:45 am]
BILLING CODE 4830-01-P