Classification of Certain Foreign Entities, 15107-15108 [E8-5687]

Download as PDF yshivers on PROD1PC62 with PROPOSALS Federal Register / Vol. 73, No. 56 / Friday, March 21, 2008 / Proposed Rules requirements similar to a section 204(h) notice. * * * * * A–10. (a) In general. Section 204(h) notice must be provided to each applicable individual, to each employee organization representing participants who are applicable individuals, and, for plan years beginning after December 31, 2007, to each employer that has an obligation to contribute (within the meaning of section 4212(a) of ERISA) to the plan. * * * * * * * * A–11. (a) Explanation of notice requirement—(1) In general. Section 204(h) notice must include sufficient information to allow applicable individuals to understand the effect of the plan amendment. In order to satisfy this rule, a plan administrator providing section 204(h) notice must generally satisfy paragraphs (a)(2), (3), (4), (5), and (6) of this Q&A–11. See paragraph (a)(7) of this Q&A–11 for a special rule relating to section 204(h) notices provided in connection with a notice required under section 432(e)(8)(C). See paragraph (g)(3) of Q&A–9 of this section for special rules relating to section 204(h) notices provided in connection with certain other written notices. See also paragraph (g)(4) of Q&A–9 of this section for a delegation of authority to the Commissioner to provide special rules. * * * * * (7) Information in section 204(h) notice provided in connection with a notice required under section 432(e)(8)(C). The information required in a notice under section 432(e)(8)(C) is treated as satisfying the content requirements of paragraphs (a)(3), (4), and (6) of this Q&A–11 for a section 204(h) notice. * * * * * A–18. (a) * * * (4) Special effective date for certain section 204(h) amendments made by plans of commercial airlines. Section 402 of PPA ’06 applies to section 204(h) amendments adopted in plan years ending after August 17, 2006. (5) Special effective date for rule relating to contributing employers. Section 502 of PPA ’06, which amended section 4980F(e)(1) of the Code, applies to section 204(h) amendments adopted in plan years beginning after December 31, 2007. (b) Regulatory effective date—(1) General effective date. Except as otherwise provided in this paragraph (b), section 4980F and section 204(h) of ERISA, as amended by EGTRRA, apply to plan amendments taking effect on or after June 7, 2001 (statutory effective VerDate Aug<31>2005 15:22 Mar 20, 2008 Jkt 214001 date), which is the date of enactment of EGTRRA. * * * * * (3) Effective dates for Q&A–9(g)(1), (g)(3), and (g)(4) and Q&A–11(a)(7)—(i) General effective date. Except as provided in Q&A–18(b)(3)(ii) or (b)(3)(iii) of this section, the rules in Q&A–9(g)(1), (g)(3), and (g)(4) and Q&A– 11(a)(7) of this section apply to amendments that are effective on or after January 1, 2008. (ii) Effective date for Q&A–9(g)(2). Except as provided in Q&A–18(b)(3)(iii) of this section, the rules in Q&A–9(g)(2) of this section apply to amendments that are effective on or after July 1, 2008. (iii) Special rules for section 204(h) amendments to applicable defined benefit plan. Notwithstanding paragraph (b)(3)(i) or (b)(3)(ii) of this Q&A–18, with respect to any section 204(h) notice provided in connection with a section 204(h) amendment to an applicable defined benefit plan within the meaning of section 411(a)(13)(C)(i) to limit distributions as permitted under section 411(a)(13)(A) for distributions made after August 17, 2006, that is made pursuant to section 701 of PPA ’06, the special rules in paragraphs (g)(1) and (2) of Q&A–9 of this section apply to amendments made effective after December 21, 2006. For such an amendment that is effective not later than December 31, 2008, section 204(h) notice does not fail to be timely if the notice is provided at least 30 days, rather than 45 days, before the date that the amendment is first effective. * * * * * Linda E. Stiff, Deputy Commissioner for Services and Enforcement. [FR Doc. E8–5625 Filed 3–20–08; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 301 [REG–143468–07] RIN 1545–BH23 Classification of Certain Foreign Entities Internal Revenue Service (IRS), Treasury. ACTION: Notice of proposed rulemaking by cross-reference to temporary regulations. AGENCY: SUMMARY: In the Rules and Regulations section of this issue of the Federal PO 00000 Frm 00010 Fmt 4702 Sfmt 4702 15107 Register, the IRS and the Treasury Department are issuing temporary and final regulations relating to certain business entities included on the list of foreign business entities that are always classified as corporations for Federal tax purposes. The regulations are needed to make the Federal tax classification of Bulgarian public limited liability companies consistent with the Federal tax classification of public limited liability companies organized in other countries of the European Economic Area. They will affect persons owning an interest in a Bulgarian aktsionerno druzhestvo on or after January 1, 2007. The text of the temporary regulations also serves as the text of these proposed regulations. DATES: Written or electronic comments and requests for a public hearing must be received by June 19, 2008. ADDRESSES: Send submissions to CC:PA:LPD:PR (REG–143468–07), room 5203, Internal Revenue Service, PO Box 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–143468–07), Courier’s Desk, Internal Revenue Service, 1111 Constitution Avenue, NW., Washington, DC 20224 or sent electronically via the Federal eRulemaking Portal at www.regulations.gov (IRS REG–143468– 07). FOR FURTHER INFORMATION CONTACT: Concerning the proposed regulations, S. James Hawes, (202) 622–3860; concerning submissions of comments, Kelly Banks, (202) 622–7180 (not tollfree numbers). SUPPLEMENTARY INFORMATION: Background and Explanation of Provisions Temporary regulations in this issue of the Federal Register amend and revise 26 CFR part 301 relating to section 7701 of the Internal Revenue Code. The temporary regulations add certain business entities to the list of foreign business entities that are always classified as corporations for Federal tax purposes. The preamble to the temporary regulations explains both the temporary regulations and these proposed regulations. Special Analyses It has been determined that this notice of proposed rulemaking is not a significant regulatory action as defined in Executive Order 12866. Therefore, a regulatory assessment is not required. It has been determined that section 553(b) of the Administrative Procedure Act (5 E:\FR\FM\21MRP1.SGM 21MRP1 15108 Federal Register / Vol. 73, No. 56 / Friday, March 21, 2008 / Proposed Rules U.S.C. Chapter 5) does not apply to this regulation. Because the regulation does not impose a collection of information on small entities, the Regulatory Flexibility Act (5 U.S.C. Chapter 6) does not apply, either. Pursuant to section 7805(f) of the Internal Revenue Code, this regulation has been submitted to the Chief Counsel for Advocacy of the Small Business Administration for comment on its impact. Comments and Request for a Public Hearing Before these proposed regulations are adopted as final regulations, consideration will be given to any written (a signed original and eight (8) copies) or electronic comments that are submitted timely to the Internal Revenue Service (IRS). The IRS and the Treasury Department request comments on the clarity of the proposed rules and how they can be made easier to understand. All comments will be available for public inspection and copying. A public hearing will be scheduled if requested in writing by any person that timely submits written comments. If a public hearing is scheduled, notice of the date, time, and place for the public hearing will be published in the Federal Register. Par. 2. Section 301.7701–2 is amended by revising paragraphs (b)(8)(vi) and (e)(7) to read as follows: § 301.7701–2 definitions. Business entities; * * * * * (b) * * * (8) * * * (vi) [The text of the proposed amendment to § 301.7701–2(b)(8)(vi) is the same as the text of § 301.7701– 2T(b)(8)(vi) published elsewhere in this issue of the Federal Register.] * * * * * (e) * * * (7) [The text of the proposed amendment to § 301.7701–2(e)(7) is the same as the text of § 301.7701–2T(e)(7) published elsewhere in this issue of the Federal Register.] Linda E. Stiff, Deputy Commissioner for Services and Enforcement. [FR Doc. E8–5687 Filed 3–20–08; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF HOMELAND SECURITY Coast Guard Proposed Effective Date 33 CFR Part 100 The regulations proposed in this document would be applicable for entities existing on or after March 21, 2008. [Docket No. USCG–2008–0154] RIN 1625–AA08 Drafting Information The principal author of these proposed regulations is S. James Hawes of the Office of Associate Chief Counsel (International); however, other personnel from the IRS and the Treasury Department participated in their development. List of Subjects in 26 CFR Part 301 Employment taxes, Estate taxes, Excise taxes, Gift taxes, Income taxes, Penalties, Reporting and recordkeeping requirements. Proposed Amendments to the Regulations yshivers on PROD1PC62 with PROPOSALS Accordingly, 26 CFR part 301 is proposed to be amended as follows: PART 301—PROCEDURE AND ADMINISTRATION Paragraph 1. The authority citation for part 301 continues to read in part as follows: Authority: 26 U.S.C. 7805 * * * VerDate Aug<31>2005 15:22 Mar 20, 2008 Jkt 214001 Special Local Regulations for Marine Events; Severn River, College Creek, Weems Creek and Carr Creek, Annapolis, MD Coast Guard, DHS. Notice of proposed rulemaking. AGENCY: ACTION: The Coast Guard proposes to establish special local regulations for the ‘‘William I. Koch International Sea Scout Cup’’, a sailboat regatta to be held on the waters of the Severn River, Annapolis, Maryland. These special local regulations are necessary to provide for the safety of life on navigable waters during the event. This action is intended to restrict vessel traffic in portions of the Severn River adjacent to the U.S. Naval Academy, Annapolis, Maryland during the sailboat regatta. DATES: Comments and related material must reach the Coast Guard on or before April 21, 2008. ADDRESSES: You may submit comments identified by Coast Guard docket number USCG–2008–0154 to the Docket Management Facility at the U.S. Department of Transportation. To avoid SUMMARY: PO 00000 Frm 00011 Fmt 4702 Sfmt 4702 duplication, please use only one of the following methods: (1) Online: https:// www.regulations.gov. (2) Mail: Docket Management Facility (M–30), U.S. Department of Transportation, West Building Ground Floor, Room W12–140, 1200 New Jersey Avenue, SE., Washington, DC 20590– 0001. (3) Hand delivery: Room W12–140 on the Ground Floor of the West Building, 1200 New Jersey Avenue, SE., Washington, DC 20590, between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. The telephone number is 202–366–9329. (4) Fax: 202–493–2251. FOR FURTHER INFORMATION CONTACT: If you have questions on this proposed rule, call Dennis Sens, Project Manager, Fifth Coast Guard District, Inspections and Compliance Branch, at (757) 398– 6204. If you have questions on viewing or submitting material to the docket, call Renee V. Wright, Program Manager, Docket Operations, telephone 202–366– 9826. SUPPLEMENTARY INFORMATION: Public Participation and Request for Comments We encourage you to participate in this rulemaking by submitting comments and related materials. All comments received will be posted, without change, to https:// www.regulations.gov and will include any personal information you have provided. We have an agreement with the Department of Transportation (DOT) to use the Docket Management Facility. Please see DOT’s ‘‘Privacy Act’’ paragraph below. Submitting Comments If you submit a comment, please include the docket number for this rulemaking (USCG–2008–0154), indicate the specific section of this document to which each comment applies, and give the reason for each comment. We recommend that you include your name and a mailing address, an e-mail address, or a phone number in the body of your document so that we can contact you if we have questions regarding your submission. You may submit your comments and material by electronic means, mail, fax, or delivery to the Docket Management Facility at the address under ADDRESSES; but please submit your comments and material by only one means. If you submit them by mail or delivery, submit them in an unbound format, no larger than 81⁄2 by 11 inches, suitable for copying and electronic filing. If you E:\FR\FM\21MRP1.SGM 21MRP1

Agencies

[Federal Register Volume 73, Number 56 (Friday, March 21, 2008)]
[Proposed Rules]
[Pages 15107-15108]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-5687]


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

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 301

[REG-143468-07]
RIN 1545-BH23


Classification of Certain Foreign Entities

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice of proposed rulemaking by cross-reference to temporary 
regulations.

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

SUMMARY: In the Rules and Regulations section of this issue of the 
Federal Register, the IRS and the Treasury Department are issuing 
temporary and final regulations relating to certain business entities 
included on the list of foreign business entities that are always 
classified as corporations for Federal tax purposes. The regulations 
are needed to make the Federal tax classification of Bulgarian public 
limited liability companies consistent with the Federal tax 
classification of public limited liability companies organized in other 
countries of the European Economic Area. They will affect persons 
owning an interest in a Bulgarian aktsionerno druzhestvo on or after 
January 1, 2007. The text of the temporary regulations also serves as 
the text of these proposed regulations.

DATES: Written or electronic comments and requests for a public hearing 
must be received by June 19, 2008.

ADDRESSES: Send submissions to CC:PA:LPD:PR (REG-143468-07), room 5203, 
Internal Revenue Service, PO Box 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-
143468-07), Courier's Desk, Internal Revenue Service, 1111 Constitution 
Avenue, NW., Washington, DC 20224 or sent electronically via the 
Federal eRulemaking Portal at www.regulations.gov (IRS REG-143468-07).

FOR FURTHER INFORMATION CONTACT: Concerning the proposed regulations, 
S. James Hawes, (202) 622-3860; concerning submissions of comments, 
Kelly Banks, (202) 622-7180 (not toll-free numbers).

SUPPLEMENTARY INFORMATION: 

Background and Explanation of Provisions

    Temporary regulations in this issue of the Federal Register amend 
and revise 26 CFR part 301 relating to section 7701 of the Internal 
Revenue Code. The temporary regulations add certain business entities 
to the list of foreign business entities that are always classified as 
corporations for Federal tax purposes. The preamble to the temporary 
regulations explains both the temporary regulations and these proposed 
regulations.

Special Analyses

    It has been determined that this notice of proposed rulemaking is 
not a significant regulatory action as defined in Executive Order 
12866. Therefore, a regulatory assessment is not required. It has been 
determined that section 553(b) of the Administrative Procedure Act (5

[[Page 15108]]

U.S.C. Chapter 5) does not apply to this regulation. Because the 
regulation does not impose a collection of information on small 
entities, the Regulatory Flexibility Act (5 U.S.C. Chapter 6) does not 
apply, either. Pursuant to section 7805(f) of the Internal Revenue 
Code, this regulation has been submitted to the Chief Counsel for 
Advocacy of the Small Business Administration for comment on its 
impact.

Comments and Request for a Public Hearing

    Before these proposed regulations are adopted as final regulations, 
consideration will be given to any written (a signed original and eight 
(8) copies) or electronic comments that are submitted timely to the 
Internal Revenue Service (IRS). The IRS and the Treasury Department 
request comments on the clarity of the proposed rules and how they can 
be made easier to understand. All comments will be available for public 
inspection and copying. A public hearing will be scheduled if requested 
in writing by any person that timely submits written comments. If a 
public hearing is scheduled, notice of the date, time, and place for 
the public hearing will be published in the Federal Register.

Proposed Effective Date

    The regulations proposed in this document would be applicable for 
entities existing on or after March 21, 2008.

Drafting Information

    The principal author of these proposed regulations is S. James 
Hawes of the Office of Associate Chief Counsel (International); 
however, other personnel from the IRS and the Treasury Department 
participated in their development.

List of Subjects in 26 CFR Part 301

    Employment taxes, Estate taxes, Excise taxes, Gift taxes, Income 
taxes, Penalties, Reporting and recordkeeping requirements.

Proposed Amendments to the Regulations

    Accordingly, 26 CFR part 301 is proposed to be amended as follows:

PART 301--PROCEDURE AND ADMINISTRATION

    Paragraph 1. The authority citation for part 301 continues to read 
in part as follows:

    Authority: 26 U.S.C. 7805 * * *

    Par. 2. Section 301.7701-2 is amended by revising paragraphs 
(b)(8)(vi) and (e)(7) to read as follows:


Sec.  301.7701-2  Business entities; definitions.

* * * * *
    (b) * * *
    (8) * * *
    (vi) [The text of the proposed amendment to Sec.  301.7701-
2(b)(8)(vi) is the same as the text of Sec.  301.7701-2T(b)(8)(vi) 
published elsewhere in this issue of the Federal Register.]
* * * * *
    (e) * * *
    (7) [The text of the proposed amendment to Sec.  301.7701-2(e)(7) 
is the same as the text of Sec.  301.7701-2T(e)(7) published elsewhere 
in this issue of the Federal Register.]

 Linda E. Stiff,
Deputy Commissioner for Services and Enforcement.
 [FR Doc. E8-5687 Filed 3-20-08; 8:45 am]
BILLING CODE 4830-01-P

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.