Revised Regulations Concerning Section 403(b) Tax-Sheltered Annuity Contracts; Correction, 65566 [2010-26979]
Download as PDF
<![CDATA[
65566
Federal Register / Vol. 75, No. 206 / Tuesday, October 26, 2010 / Rules and Regulations
§ 556.220
■
[Removed]
5. Remove § 556.220.
§ 556.680
■
501(c)(3). These regulations will affect
sponsors of section 403(b) contracts,
administrators, participants, and
beneficiaries.
[Removed]
6. Remove § 556.680.
7. The authority citation for 21 CFR
part 558 continues to read as follows:
■
Authority: 21 U.S.C. 360b, 371.
§ 558.4
[Amended]
8. In § 558.4, in paragraph (d), in the
‘‘Category I’’ table, remove the listing for
‘‘Aklomide’’; and in the ‘‘Category II’’
table, remove the listings for
‘‘Levamisole’’, ‘‘Nitromide’’ immediately
followed in sequence by ‘‘Sulfanitran’’,
‘‘Nitromide’’ immediately followed in
sequence by ‘‘Sulfanitran’’ and by
‘‘Roxarsone’’; ‘‘Sulfanitran’’ immediately
followed in sequence by ‘‘Aklomide’’,
and the two listings for ‘‘Sulfanitran’’
immediately followed in sequence by
‘‘Aklomide’’ and by ‘‘Roxarsone’’.
■
§ 558.35
■
[Removed]
■
■
Concerning the regulations, John
Tolleris at (202) 622–6060; concerning
the regulations as applied to churchrelated entities, Sherri Edelman or Jason
Levine at (202) 283–9634 (not toll-free
numbers).
SUPPLEMENTARY INFORMATION:
The final regulations that are the
subject of this correction are under
section 403(b) of the Internal Revenue
Code.
Need for Correction
As published, final regulations (TD
9340) contain errors that may prove to
be misleading and are in need of
clarification.
Correction of Publication
[Removed]
Accordingly, 26 CFR part 1 is
corrected by making the following
correcting amendments:
■
11. Remove § 558.376.
Dated: October 8, 2010.
Bernadette Dunham,
Director, Center for Veterinary Medicine.
PART 1—INCOME TAXES
[FR Doc. 2010–27011 Filed 10–25–10; 8:45 am]
Paragraph 1. The authority citation
for part 1 continues to read in part as
follows:
■
BILLING CODE 4160–01–P
DEPARTMENT OF THE TREASURY
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 1.403(b)–4 is amended
by revising the third and fourth
sentences of paragraph (c)(5) Example
12.(i) to read as follows:
■
Internal Revenue Service
26 CFR Part 1
[TD 9340]
§ 1.403(b)–4
RIN 1545–BB64
*
Revised Regulations Concerning
Section 403(b) Tax-Sheltered Annuity
Contracts; Correction
Internal Revenue Service (IRS),
Treasury.
ACTION: Correcting amendment.
AGENCY:
This document contains
corrections to final regulations (TD
9340) that were published in the
Federal Register on Thursday, July 26,
2007 (72 FR 41128) providing updated
guidance on section 403(b) contracts of
public schools and tax-exempt
organizations described in section
erowe on DSK5CLS3C1PROD with RULES
SUMMARY:
VerDate Mar<15>2010
14:00 Oct 25, 2010
Jkt 223001
*
*
(c) * * *
(5) * * *
Contribution limitations.
*
*
Example 12. (i) * * * However, the $5,000
age 50 catch-up amount deferred in 2006 is
disregarded for purposes of applying the
limitation at paragraph (c)(3)(i)(C) of this
section to determine the special section
403(b) catch-up amount. Thus, for 2007, only
$80,000 of section 403(b) elective deferrals
are taken into account in applying the
limitation at paragraph (c)(3)(i)(C) of this
section. * * *
*
*
*
*
*
(e) * * *
(5) * * * See also § 1.403(b)–9(a)(5)
for additional rules relating to annuities
payable from a retirement income
account.
*
*
*
*
*
■ Par. 4. Section 1.403(b)–7 is amended
by revising the fourth sentence of
paragraph (b)(1) to read as follows:
§ 1.403(b)–7
benefits.
§ 1.403(b)–10
*
*
*
*
(b) * * *
(3) Requirements for plan-to-plan
transfers—(i) In general. * * *
*
*
*
*
*
LaNita Van Dyke,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel (Procedure and Administration).
[FR Doc. 2010–26979 Filed 10–25–10; 8:45 am]
BILLING CODE 4830–01–P
*
*
*
*
Par. 3. Section 1.403(b)–6 is amended
by revising the last sentence of
paragraph (e)(5) to read as follows:
Fmt 4700
Sfmt 9990
Miscellaneous provisions.
*
■
Frm 00004
Taxation of distributions and
*
*
*
*
(b) * * *
(1) * * * Thus, to the extent that a
portion of a distribution (including a
distribution from a designated Roth
account) would be excluded from gross
income if it were not rolled over, if that
portion of the distribution is to be rolled
over into an eligible retirement plan that
is not an IRA, the rollover must be
accomplished through a direct rollover
of the entire distribution to a plan
qualified under section 401(a) or a
section 403(b) plan and that plan must
agree to separately account for the
amount not includible in income (so
that a 60-day rollover to a plan qualified
under section 401(a) or another section
403(b) plan is not available for this
portion of the distribution). * * *
*
*
*
*
*
■ Par. 5. Section 1.403(b)–10 is
amended by revising the heading of
paragraph (b)(3) and adding a heading to
paragraph (b)(3)(i) to read as follows:
*
PO 00000
Timing of distributions and
*
Background
Income taxes, Reporting and
recordkeeping requirements.
[Removed]
10. Remove § 558.315.
§ 558.376
FOR FURTHER INFORMATION CONTACT:
List of Subjects in 26 CFR Part 1
9. Remove § 558.35.
§ 558.315
The correction is effective
October 26, 2010, and is applicable on
July 26, 2007.
DATES:
PART 558—NEW ANIMAL DRUGS FOR
USE IN ANIMAL FEEDS
§ 1.403(b)–6
benefits.
E:\FR\FM\26OCR1.SGM
26OCR1
]]>Agencies
[Federal Register Volume 75, Number 206 (Tuesday, October 26, 2010)]
[Rules and Regulations]
[Page 65566]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-26979]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9340]
RIN 1545-BB64
Revised Regulations Concerning Section 403(b) Tax-Sheltered
Annuity Contracts; Correction
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Correcting amendment.
-----------------------------------------------------------------------
SUMMARY: This document contains corrections to final regulations (TD
9340) that were published in the Federal Register on Thursday, July 26,
2007 (72 FR 41128) providing updated guidance on section 403(b)
contracts of public schools and tax-exempt organizations described in
section 501(c)(3). These regulations will affect sponsors of section
403(b) contracts, administrators, participants, and beneficiaries.
DATES: The correction is effective October 26, 2010, and is applicable
on July 26, 2007.
FOR FURTHER INFORMATION CONTACT: Concerning the regulations, John
Tolleris at (202) 622-6060; concerning the regulations as applied to
church-related entities, Sherri Edelman or Jason Levine at (202) 283-
9634 (not toll-free numbers).
SUPPLEMENTARY INFORMATION:
Background
The final regulations that are the subject of this correction are
under section 403(b) of the Internal Revenue Code.
Need for Correction
As published, final regulations (TD 9340) contain errors that may
prove to be misleading and are in need of clarification.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements.
Correction of Publication
0
Accordingly, 26 CFR part 1 is corrected by making the following
correcting amendments:
PART 1--INCOME TAXES
0
Paragraph 1. The authority citation for part 1 continues to read in
part as follows:
Authority: 26 U.S.C. 7805 * * *
0
Par. 2. Section 1.403(b)-4 is amended by revising the third and fourth
sentences of paragraph (c)(5) Example 12.(i) to read as follows:
Sec. 1.403(b)-4 Contribution limitations.
* * * * *
(c) * * *
(5) * * *
Example 12. (i) * * * However, the $5,000 age 50 catch-up amount
deferred in 2006 is disregarded for purposes of applying the
limitation at paragraph (c)(3)(i)(C) of this section to determine
the special section 403(b) catch-up amount. Thus, for 2007, only
$80,000 of section 403(b) elective deferrals are taken into account
in applying the limitation at paragraph (c)(3)(i)(C) of this
section. * * *
* * * * *
0
Par. 3. Section 1.403(b)-6 is amended by revising the last sentence of
paragraph (e)(5) to read as follows:
Sec. 1.403(b)-6 Timing of distributions and benefits.
* * * * *
(e) * * *
(5) * * * See also Sec. 1.403(b)-9(a)(5) for additional rules
relating to annuities payable from a retirement income account.
* * * * *
0
Par. 4. Section 1.403(b)-7 is amended by revising the fourth sentence
of paragraph (b)(1) to read as follows:
Sec. 1.403(b)-7 Taxation of distributions and benefits.
* * * * *
(b) * * *
(1) * * * Thus, to the extent that a portion of a distribution
(including a distribution from a designated Roth account) would be
excluded from gross income if it were not rolled over, if that portion
of the distribution is to be rolled over into an eligible retirement
plan that is not an IRA, the rollover must be accomplished through a
direct rollover of the entire distribution to a plan qualified under
section 401(a) or a section 403(b) plan and that plan must agree to
separately account for the amount not includible in income (so that a
60-day rollover to a plan qualified under section 401(a) or another
section 403(b) plan is not available for this portion of the
distribution). * * *
* * * * *
0
Par. 5. Section 1.403(b)-10 is amended by revising the heading of
paragraph (b)(3) and adding a heading to paragraph (b)(3)(i) to read as
follows:
Sec. 1.403(b)-10 Miscellaneous provisions.
* * * * *
(b) * * *
(3) Requirements for plan-to-plan transfers--(i) In general. * * *
* * * * *
LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division,
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2010-26979 Filed 10-25-10; 8:45 am]
BILLING CODE 4830-01-P
