Source of Income From Qualified Fails Charges; Correction, 81457 [2010-32536]
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Federal Register / Vol. 75, No. 248 / Tuesday, December 28, 2010 / Rules and Regulations
are age 55 or over is expressed under the
terms of the plan as a life annuity
payable at normal retirement age (or
current age, if later) as described in
paragraph (b)(1)(i)(A) of this section and
the plan provides that the accumulated
benefit of participants who are younger
than age 55 is expressed as the current
balance of a hypothetical account as
described in paragraph (b)(1)(i)(B) of
this section, then the safe harbor
described in section 411(b)(5)(A) and
paragraph (b)(1)(i) of this section does
not apply to individuals who are or
could be participants who are age 55 or
over.
(iv) * * *
Example 4. * * *
(iii) * * * If, instead of the facts in
paragraph (i) of this Example 4, the plan had
been amended to provide only participants
who have not yet attained age 55 by January
1, 2012, with a benefit that is the greater of
the benefit under the average annual
compensation formula and a benefit that is
based on the balance of a hypothetical
account, then the safe harbor would not be
satisfied with respect to individuals who
have attained age 55 by January 1, 2012.
* * *
*
*
*
(c) * * *
(5) * * *
*
*
Example 2. * * *
(iv) * * * The plan provides that, as of a
participant’s annuity starting date, the plan
will determine whether the benefit
attributable to the opening hypothetical
account balance payable in the particular
optional form of benefit selected is equal to
or greater than the benefit accrued under the
plan through the date of conversion and
payable in the same generalized optional
form of benefit with the same annuity
starting date. * * *
Example 3. * * * (i) * * * Under the
terms of Plan E, the benefit attributable to A’s
opening hypothetical account balance is
increased so that A’s straight life annuity
commencing on January 1, 2015, is $1,000
per month. * * *
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*
*
*
*
*
(d) * * *
(1) * * *
(iii) Market rate of return for single
rates. Except as otherwise provided in
this paragraph (d)(1), an interest
crediting rate is not in excess of a
market rate of return only if the plan
terms provide that the interest credit for
each plan year is determined using one
of the following specified interest
crediting rates:
*
*
*
*
*
(f) * * *
(2) * * *
(iii) * * * For the periods after the
statutory effective date set forth in
paragraph (f)(1) of this section and
before the regulatory effective date set
forth in paragraph (f)(2)(i) of this
VerDate Mar<15>2010
18:14 Dec 27, 2010
Jkt 223001
section, the safe harbor and other relief
of section 411(b)(5) apply and the
market rate of return and other
requirements of section 411(b)(5) must
be satisfied. * * *
Guy R. Traynor
Acting Chief, Publications and Regulations
Branch, Legal Processing Division, Associate
Chief Counsel, Procedure and
Administration.
81457
Correction of Publication
Accordingly, 26 CFR part 1 is
corrected by making the following
correcting amendment:
■
PART 1—INCOME TAXES
Paragraph 1. The authority citation
for part 1 continues to read in part as
follows:
■
Authority: 26 U.S.C. 7805 * * *
[FR Doc. 2010–32539 Filed 12–27–10; 8:45 am]
Par. 2. Section 1.863–10T is amended
by revising the paragraph (f) to read as
follows:
■
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
§ 1.863–10T Source of income from a
qualified fails charge (temporary).
*
*
*
*
*
(f) Expiration date. This section
expires on December 6, 2013.
26 CFR Part 1
[TD 9508]
RIN 1545–BJ85
Source of Income From Qualified Fails
Charges; Correction
Guy R. Traynor,
Acting Chief, Publications and Regulations
Branch, Legal Processing Division, Associate
Chief Counsel, Procedure and
Administration.
[FR Doc. 2010–32536 Filed 12–27–10; 8:45 am]
Internal Revenue Service (IRS),
Treasury.
ACTION: Correcting amendment.
BILLING CODE 4830–01–P
This document contains a
correction to temporary regulations (TD
9508) thatwere published in the Federal
Register on Wednesday, December 8,
2010 (75 FR 76262)providing guidance
about the treatment of fails charges for
purposes of sections 871 and 881, which
generally require gross-basis taxation of
foreign persons not otherwise subject to
U.S. net-basis taxation and the
withholding of such tax under sections
1441 and 1442.
DATES: This correction is effective on
December 28, 2010, and is applicable
beginning December 8, 2010.
FOR FURTHER INFORMATION CONTACT:
Sheila Ramaswamy or Anthony J. Marra
at (202) 622–3870 (not a toll-free
number).
[Docket No. USPC–2010–04]
AGENCY:
SUMMARY:
SUPPLEMENTARY INFORMATION:
Background
The temporary regulations (TD 9508)
that are the subject of this document are
under section 863 of the Internal
Revenue Code.
Need for Correction
As published, the temporary
regulations (TD 9508) contain an error
that may prove to be misleading and is
in need of clarification.
List of Subject in 26 CFR Part 1
Income taxes, Reporting and
recordkeeping requirements.
PO 00000
Frm 00087
Fmt 4700
Sfmt 4700
DEPARTMENT OF JUSTICE
28 CFR Part 2
Paroling, Recommitting, and
Supervising Federal Prisoners:
Prisoners Serving Sentences Under
the United States and District of
Columbia Codes
United States Parole
Commission, Justice.
ACTION: Final rules.
AGENCY:
The U.S. Parole Commission
is revising its rule on original
jurisdiction cases. The revision adds as
a criterion for original jurisdiction
designation a case in which the offender
caused the death of a law enforcement
officer while the officer was performing
his duty. In the rule on the quorum of
Commissioners needed for agency
action, the Commission is adding
provisions that describe the
consequence of a vote in which the
Commission members are equally
divided in their decisions.
DATES: Effective date: January 31, 2011.
FOR FURTHER INFORMATION CONTACT:
Rockne Chickinell, Office of General
Counsel, U. S. Parole Commission, 5550
Friendship Blvd., Chevy Chase,
Maryland 20815, telephone (301) 492–
5959. Questions about this publication
are welcome, but inquiries concerning
individual cases cannot be answered
over the telephone.
SUMMARY:
E:\FR\FM\28DER1.SGM
28DER1
]]>Agencies
[Federal Register Volume 75, Number 248 (Tuesday, December 28, 2010)]
[Rules and Regulations]
[Page 81457]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-32536]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9508]
RIN 1545-BJ85
Source of Income From Qualified Fails Charges; Correction
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Correcting amendment.
-----------------------------------------------------------------------
SUMMARY: This document contains a correction to temporary regulations
(TD 9508) thatwere published in the Federal Register on Wednesday,
December 8, 2010 (75 FR 76262)providing guidance about the treatment of
fails charges for purposes of sections 871 and 881, which generally
require gross-basis taxation of foreign persons not otherwise subject
to U.S. net-basis taxation and the withholding of such tax under
sections 1441 and 1442.
DATES: This correction is effective on December 28, 2010, and is
applicable beginning December 8, 2010.
FOR FURTHER INFORMATION CONTACT: Sheila Ramaswamy or Anthony J. Marra
at (202) 622-3870 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The temporary regulations (TD 9508) that are the subject of this
document are under section 863 of the Internal Revenue Code.
Need for Correction
As published, the temporary regulations (TD 9508) contain an error
that may prove to be misleading and is in need of clarification.
List of Subject 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 amendment:
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 1.863-10T is amended by revising the paragraph (f) to
read as follows:
Sec. 1.863-10T Source of income from a qualified fails charge
(temporary).
* * * * *
(f) Expiration date. This section expires on December 6, 2013.
Guy R. Traynor,
Acting Chief, Publications and Regulations Branch, Legal Processing
Division, Associate Chief Counsel, Procedure and Administration.
[FR Doc. 2010-32536 Filed 12-27-10; 8:45 am]
BILLING CODE 4830-01-P
