Benefit Restrictions for Underfunded Pension Plans; Hearing, 71842 [E7-24670]

Download as PDF 71842 Federal Register / Vol. 72, No. 243 / Wednesday, December 19, 2007 / Proposed Rules DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [REG–113891–07] RIN 1545–BG72 Benefit Restrictions for Underfunded Pension Plans; Hearing Internal Revenue Service (IRS), Treasury. ACTION: Notice of public hearing on proposed rulemaking. AGENCY: This document provides a notice of public hearing on proposed rulemaking providing guidance regarding the use of certain funding balances maintained for defined benefit pension plans and regarding benefit restrictions for certain underfunded defined benefit pension plans. DATES: The public hearing is being held on Monday, January 28, 2008, at 10 a.m. The IRS must receive outlines of the topics to be discussed at the hearing by January 7, 2008. ADDRESSES: The public hearing is being held in the IRS Auditorium, Internal Revenue Service Building, 1111 Constitution Avenue, NW., Washington, DC 20224. Mail outlines to CC:PA:LPD:PR (REG– 113891–07), room 5203, Internal Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044. Submissions may be handdelivered Monday through Friday between the hours of 8 a.m. and 4 p.m. to CC:PA:LPD:PR (REG–113891–07), Couriers Desk, Internal Revenue Service, 1111 Constitution Avenue, NW., Washington, DC or sent electronically via the Federal eRulemaking Portal at https:// www.regulations.gov (IRS–REG– 113891–07). FOR FURTHER INFORMATION CONTACT: Concerning submissions of comments, the hearing and/or to be placed on the building access list to attend the hearing, Kelly Banks at (202) 622–7180 (not a toll-free number). SUPPLEMENTARY INFORMATION: The subject of the public hearing is the notice of proposed rulemaking (REG– 113891–07) that was published in the Federal Register on Friday, August 31, 2007 (72 FR 50544). The rules of 26 CFR 601.601(a)(3) apply to the hearing. Persons who have submitted written comments and wish to present oral comments at the hearing must submit an outline of the topics to be discussed and rwilkins on PROD1PC63 with PROPOSALS SUMMARY: VerDate Aug<31>2005 19:24 Dec 18, 2007 Jkt 214001 the amount of time to be devoted to each topic by January 7, 2008. A period of 10 minutes is allotted to each person for presenting oral comments. After the deadline for receiving outlines has passed, the IRS will prepare an agenda containing the schedule of speakers. Copies of the agenda will be made available free of charge at the hearing. Because of access restrictions, the IRS will not admit visitors beyond the immediate entrance area more than 30 minutes before the hearing. For information about having your name placed on the building access list to attend the hearing, see the FOR FURTHER INFORMATION CONTACT section of this document. LaNita Van Dyke, Branch Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. E7–24670 Filed 12–18–07; 8:45 am] section 905(c) of the Internal Revenue Code. Need for Correction As published, the notice of proposed rulemaking by cross-reference to temporary regulations (REG–209020–86) contain errors that may prove to be misleading and are in need of clarification. Correction of Publication Accordingly, the publication of the notice of proposed rulemaking by crossreference to the temporary regulations (REG–209020–86), which was the subject of FR Doc. E7–21727, is corrected as follows: 1. On page 62806, column 1, in the preamble, under the caption ‘‘ADDRESSES:’’, line 8, the language ‘‘CC:PA:LPD:PR (REG–209020–90),’’ is corrected to read ‘‘CC:PA:LPD:PR (REG– 209020–86),’’. BILLING CODE 4830–01–P § 1.905–5 DEPARTMENT OF THE TREASURY 2. On page 62807, column 2, § 1.905– 5, the word (temporary) is removed from the end of the section title. [Corrected] [REG–209020–86] LaNita Van Dyke, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. E7–24673 Filed 12–18–07; 8:45 am] RIN 1545–AC09 BILLING CODE 4830–01–P Foreign Tax Credit: Notification of Foreign Tax Redeterminations; Correction DEPARTMENT OF LABOR Internal Revenue Service 26 CFR Part 1 Internal Revenue Service (IRS), Treasury. ACTION: Correction to notice of proposed rulemaking by cross-reference to temporary regulations. AGENCY: SUMMARY: This document contains corrections to a notice of proposed rulemaking by cross-reference to temporary regulations (REG–209020–86) that was published in the Federal Register on Wednesday, November 7, 2007 (72 FR 62805) relating to a taxpayer’s obligation under section 905(c) of the Internal Revenue Code to notify IRS of a foreign tax redetermination and also relating to the civil penalty under section 6689 for failure to notify the IRS of a foreign tax redetermination as required under section 905(c). FOR FURTHER INFORMATION CONTACT: Teresa Burridge Hughes at (202) 622– 3850 (not a toll-free number). SUPPLEMENTARY INFORMATION: Background The correction notice that is the subject of this document is under PO 00000 Frm 00015 Fmt 4702 Sfmt 4702 Employee Benefits Security Administration 29 CFR Part 2560 RIN 1210–AB24 Civil Penalties Under ERISA Section 502(c)(4) Employee Benefits Security Administration, Labor. ACTION: Proposed regulation. AGENCY: SUMMARY: This document contains a proposed regulation that, upon adoption, would establish procedures relating to the assessment of civil penalties by the Department of Labor under section 502(c)(4) of the Employee Retirement Income Security Act of 1974 (ERISA or the Act). The regulation is necessary to reflect recent amendments to section 502(c)(4) by the Pension Protection Act of 2006, under which the Secretary of Labor is granted authority to assess civil penalties not to exceed $1,000 per day for each violation of section 101(j), (k), or (l), or section 514(e)(3) of ERISA. The regulation would affect employee benefit plans, E:\FR\FM\19DEP1.SGM 19DEP1

Agencies

[Federal Register Volume 72, Number 243 (Wednesday, December 19, 2007)]
[Proposed Rules]
[Page 71842]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-24670]



[[Page 71842]]

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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-113891-07]
RIN 1545-BG72


Benefit Restrictions for Underfunded Pension Plans; Hearing

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice of public hearing on proposed rulemaking.

-----------------------------------------------------------------------

SUMMARY: This document provides a notice of public hearing on proposed 
rulemaking providing guidance regarding the use of certain funding 
balances maintained for defined benefit pension plans and regarding 
benefit restrictions for certain underfunded defined benefit pension 
plans.

DATES: The public hearing is being held on Monday, January 28, 2008, at 
10 a.m. The IRS must receive outlines of the topics to be discussed at 
the hearing by January 7, 2008.

ADDRESSES: The public hearing is being held in the IRS Auditorium, 
Internal Revenue Service Building, 1111 Constitution Avenue, NW., 
Washington, DC 20224.
    Mail outlines to CC:PA:LPD:PR (REG-113891-07), room 5203, Internal 
Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044. 
Submissions may be hand-delivered Monday through Friday between the 
hours of 8 a.m. and 4 p.m. to CC:PA:LPD:PR (REG-113891-07), Couriers 
Desk, Internal Revenue Service, 1111 Constitution Avenue, NW., 
Washington, DC or sent electronically via the Federal eRulemaking 
Portal at https://www.regulations.gov (IRS-REG-113891-07).

FOR FURTHER INFORMATION CONTACT: Concerning submissions of comments, 
the hearing and/or to be placed on the building access list to attend 
the hearing, Kelly Banks at (202) 622-7180 (not a toll-free number).

SUPPLEMENTARY INFORMATION: The subject of the public hearing is the 
notice of proposed rulemaking (REG-113891-07) that was published in the 
Federal Register on Friday, August 31, 2007 (72 FR 50544).
    The rules of 26 CFR 601.601(a)(3) apply to the hearing.
    Persons who have submitted written comments and wish to present 
oral comments at the hearing must submit an outline of the topics to be 
discussed and the amount of time to be devoted to each topic by January 
7, 2008.
    A period of 10 minutes is allotted to each person for presenting 
oral comments. After the deadline for receiving outlines has passed, 
the IRS will prepare an agenda containing the schedule of speakers. 
Copies of the agenda will be made available free of charge at the 
hearing. Because of access restrictions, the IRS will not admit 
visitors beyond the immediate entrance area more than 30 minutes before 
the hearing. For information about having your name placed on the 
building access list to attend the hearing, see the FOR FURTHER 
INFORMATION CONTACT section of this document.

LaNita Van Dyke,
Branch Chief, Publications and Regulations Branch, Legal Processing 
Division, Associate Chief Counsel (Procedure and Administration).
 [FR Doc. E7-24670 Filed 12-18-07; 8:45 am]
BILLING CODE 4830-01-P
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