Longevity Annuity Contracts; Correction, 45683 [2014-18558]

Download as PDF Federal Register / Vol. 79, No. 151 / Wednesday, August 6, 2014 / Rules and Regulations This document contains corrections to final regulations (TD 9673) that were published in the Federal Register on Wednesday, July 2, 2014 (79 FR 37633). The final regulations are relating to the use of longevity annuity contracts in tax qualified defined contribution plans. DATES: This correction is effective August 6, 2014 and applicable beginning July 2, 2014. FOR FURTHER INFORMATION CONTACT: Jamie Dvoretzky, at (202) 317–6799 (not a toll free number). SUPPLEMENTARY INFORMATION: SUMMARY: Background The final regulations (TD 9673) that are the subject of this correction is under section 401(a) of the Internal Revenue Code. Need for Correction As published, the final (TD 9673) contains errors that may prove to be misleading and are in need of clarification. annuity contract that is not intended to be a QLAC, if applicable) is returned to the non-QLAC portion of the employee’s account after the last valuation date for the calendar year in which the excess premium was originally paid, then the employee’s account balance for that calendar year must be increased to reflect that excess premium in the same manner as an employee’s account balance is increased under A–2 of § 1.401(a)(9)–7 to reflect a rollover received after the last valuation date. * * * * * (3) * * * (i) Structural deficiency. If a contract fails to be a QLAC at any time for a reason other than an excess premium described in paragraph (d)(1)(ii) of this A–17, then as of the date of purchase the contract will not be treated as a QLAC (for purposes of A–3(d) of § 1.401(a)(9)–5) or as a contract that is intended to be a QLAC (for purposes of paragraph (b) of this A–17). * * * * * Martin V. Franks, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel, (Procedure and Administration). List of Subjects in 26 CFR Part 1 Income taxes, Reporting and recordkeeping requirements. [FR Doc. 2014–18547 Filed 8–5–14; 8:45 am] Correction of Publication BILLING CODE 4830–01–P Accordingly, 26 CFR part 1 is corrected by making the following correcting amendments: under section 401(a) of the Internal Revenue Code. Need for Correction As published, the final regulations (TD 9673) contain errors that may prove to be misleading and are in need of clarification. Correction of Publication Accordingly, the final regulations (TD 9673), that are the subject of FR Doc. 2014–15524, are corrected as follows: 1. On page 37634, third column, in the preamble, first line from the top of the page, the language ‘‘premium payments will be taken into’’ is corrected to read ‘‘premium payments would be taken into’’. 2. On page 37636, first column, in the footnotes, the seventh line from the bottom of the page, the language ‘‘411(a) of the Code). Section 205(e)(2) of the’’ is corrected to read ‘‘411(a)). Section 205(e)(2) of the’’. 3. On page 37637, first column, in the preamble, under the paragraph heading ‘‘II. IRAs’’, the first sentence is removed. Martin V. Franks, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). DEPARTMENT OF THE TREASURY Internal Revenue Service RIN 1545–BK23 Par. 2. Section 1.401(a)(9)–6 is corrected by revising paragraph (c)(4)(i) introductory text, the second sentence of paragraph (d)(1)(ii)(B), and paragraph (d)(3)(i) to read as follows: ■ § 1.401(a)(9)–6 Required minimum distributions for defined benefit plans and annuity contracts. * * * * (c) * * * (4) * * * (i) * * * In lieu of a life annuity payable to a designated beneficiary under paragraph (c)(1) or (2) of this A– 17, a QLAC is permitted to provide for a benefit to be paid to a beneficiary after the death of the employee in an amount equal to excess of— * * * * * (d) * * * (1) * * * (ii) * * * (B) * * * If the excess premium (including the fair market value of an 17:08 Aug 05, 2014 Jkt 232001 Office of Surface Mining Reclamation and Enforcement [TD 9673] Authority: 26 U.S.C. 7805 * * * * DEPARTMENT OF THE INTERIOR 26 CFR Parts 1 and 602 Paragraph 1. The authority citation for part 1 continues to read in part as follows: ■ VerDate Mar<15>2010 [FR Doc. 2014–18558 Filed 8–5–14; 8:45 am] BILLING CODE 4830–01–P PART 1—INCOME TAXES tkelley on DSK3SPTVN1PROD with RULES 45683 30 CFR Part 943 Longevity Annuity Contracts; Correction [SATS No. TX–066–FOR; Docket ID: OSM– 2014–0001; S1D1SSS08011000SX066A0006 7F144S180110; S2D2SSS08011000SX0 66A00033F14XS501520] Internal Revenue Service (IRS), Treasury. ACTION: Final regulations; correction. AGENCY: This document contains corrections to final regulations (TD 9673) that were published in the Federal Register on Wednesday, July 2, 2014 (79 FR 37633). The final regulations are relating to the use of longevity annuity contracts in tax qualified defined contribution plans. DATES: This correction is effective August 6, 2014 and applicable beginning July 2, 2014. FOR FURTHER INFORMATION CONTACT: Jamie Dvoretzky, at (202) 317–6799 (not a toll free number). SUPPLEMENTARY INFORMATION: SUMMARY: Background The final regulations (TD 9673) that are the subject of this correction is PO 00000 Frm 00011 Fmt 4700 Sfmt 4700 Texas Regulatory Program Office of Surface Mining Reclamation and Enforcement, Interior. ACTION: Final rule; approval of amendment. AGENCY: We, the Office of Surface Mining Reclamation and Enforcement (OSMRE), are approving an amendment to the Texas regulatory program (Texas program) under the Surface Mining Control and Reclamation Act of 1977 (SMCRA or the Act). Texas proposed revisions to its regulations regarding annual permit fees. Texas revised its program at its own initiative to raise revenues sufficient to cover its anticipated share of costs to administer the coal regulatory program and to encourage mining companies to more quickly reclaim lands and request bond SUMMARY: E:\FR\FM\06AUR1.SGM 06AUR1

Agencies

[Federal Register Volume 79, Number 151 (Wednesday, August 6, 2014)]
[Rules and Regulations]
[Page 45683]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-18558]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Parts 1 and 602

[TD 9673]
RIN 1545-BK23


Longevity Annuity Contracts; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Final regulations; correction.

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SUMMARY: This document contains corrections to final regulations (TD 
9673) that were published in the Federal Register on Wednesday, July 2, 
2014 (79 FR 37633). The final regulations are relating to the use of 
longevity annuity contracts in tax qualified defined contribution 
plans.

DATES: This correction is effective August 6, 2014 and applicable 
beginning July 2, 2014.

FOR FURTHER INFORMATION CONTACT: Jamie Dvoretzky, at (202) 317-6799 
(not a toll free number).

SUPPLEMENTARY INFORMATION: 

Background

    The final regulations (TD 9673) that are the subject of this 
correction is under section 401(a) of the Internal Revenue Code.

Need for Correction

    As published, the final regulations (TD 9673) contain errors that 
may prove to be misleading and are in need of clarification.

Correction of Publication

    Accordingly, the final regulations (TD 9673), that are the subject 
of FR Doc. 2014-15524, are corrected as follows:
    1. On page 37634, third column, in the preamble, first line from 
the top of the page, the language ``premium payments will be taken 
into'' is corrected to read ``premium payments would be taken into''.
    2. On page 37636, first column, in the footnotes, the seventh line 
from the bottom of the page, the language ``411(a) of the Code). 
Section 205(e)(2) of the'' is corrected to read ``411(a)). Section 
205(e)(2) of the''.
    3. On page 37637, first column, in the preamble, under the 
paragraph heading ``II. IRAs'', the first sentence is removed.

Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2014-18558 Filed 8-5-14; 8:45 am]
BILLING CODE 4830-01-P