Filing of Form 5472, 77388-77389 [2014-30200]
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77388
Federal Register / Vol. 79, No. 247 / Wednesday, December 24, 2014 / Rules and Regulations
authority delegated to the Commissioner
of Food and Drugs, 21 CFR part 860 is
amended as follows:
PART 860—MEDICAL DEVICE
CLASSIFICATION PROCEDURES
1. The authority citation for 21 CFR
part 860 continues to read as follows:
■
Authority: 21 U.S.C. 360c, 360d, 360e,
360i, 360j, 371, 374.
2. Revise § 860.123(b)(1) to read as
follows:
■
§ 860.123 Reclassification petition:
Content and form.
*
*
*
*
*
(b) * * *
(1) For devices regulated by the
Center for Devices and Radiological
Health, addressed to the Food and Drug
Administration, Center for Devices and
Radiological Health, Regulations Staff,
10903 New Hampshire Ave., Bldg. 66,
Rm. 4438, Silver Spring, MD 20993–
0002; for devices regulated by the
Center for Biologics Evaluation and
Research, addressed to the Food and
Drug Administration, Center for
Biologics Evaluation and Research,
Document Control Center, 10903 New
Hampshire Ave., Bldg. 71, Rm. G112,
Silver Spring, MD 20993–0002; for
devices regulated by the Center for Drug
Evaluation and Research, addressed to
the Food and Drug Administration,
Center for Drug Evaluation and
Research, Central Document Control
Room, 5901–B Ammendale Rd.,
Beltsville, MD 20705–1266, as
applicable.
*
*
*
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*
Dated: December 18, 2014.
Leslie Kux,
Associate Commissioner for Policy.
[FR Doc. 2014–30141 Filed 12–23–14; 8:45 am]
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9707]
RIN 1545–BM08
mstockstill on DSK4VPTVN1PROD with RULES
Filing of Form 5472
Internal Revenue Service (IRS),
Treasury.
ACTION: Final regulations.
AGENCY:
This document contains final
regulations concerning the manner of
filing Form 5472, ‘‘Information Return
of a 25% Foreign-Owned U.S.
SUMMARY:
16:05 Dec 23, 2014
Background
On June 6, 2014, the Department of
the Treasury (Treasury Department) and
the IRS published a notice of proposed
rulemaking (REG–114942–14) in the
Federal Register (79 FR 32687, 2014–26
IRB 1117) under sections 6038A and
6038C of the Internal Revenue Code
(Code) (proposed regulations). The
proposed regulations proposed
removing a provision for timely filing
Form 5472 separately from an income
tax return that is untimely filed
(‘‘untimely filed return provision’’). As
a result, Form 5472 would be required
to be filed in all cases only with the
filer’s income tax return for the taxable
year by the due date (including
extensions) of that return. No public
hearing was requested or held. The
Treasury Department and the IRS
received two written comments on the
proposed regulations, which are
available at www.regulations.gov. After
consideration of the comments, this
Treasury decision adopts the proposed
regulations, without substantive change,
as final regulations.
Summary of Comments
BILLING CODE 4164–01–P
VerDate Sep<11>2014
Corporation or a Foreign Corporation
Engaged in a U.S. Trade or Business.’’
The final regulations affect certain 25percent foreign-owned domestic
corporations and certain foreign
corporations that are engaged in a trade
or business in the United States that are
required to file Form 5472.
DATES: Effective date: These regulations
are effective on December 24, 2014.
Applicability date: For dates of
applicability, see §§ 1.6038A–1(n)(2)
and (n)(3) and 1.6038A–2(g).
FOR FURTHER INFORMATION CONTACT:
Anand Desai at (202) 317–6939 (not a
toll-free number).
SUPPLEMENTARY INFORMATION:
Jkt 235001
One comment recommended that the
‘‘untimely filed return provision’’ be
retained because the IRS may not timely
receive the information required by
Form 5472 if the untimely filed return
provision is removed. The comment
also recommended conforming changes
to permit the filing of Form 5471,
‘‘Information Return of U.S. Persons
With Respect to Certain Foreign
Corporations,’’ and Form 8865, ‘‘Return
of U.S. Persons With Respect to Certain
Foreign Partnerships,’’ separately from
an income tax return that is untimely
filed.
The Treasury Department and the IRS
decline to adopt this comment. The
Treasury Department and the IRS have
determined that tax administration
generally is more efficient when forms
PO 00000
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Fmt 4700
Sfmt 4700
(for example, Form 5471, Form 5472,
and Form 8865) are filed with the filer’s
timely filed income tax return.
The second comment addressed
issues unrelated to the proposed
regulatory change. The final regulations
do not incorporate the suggestions
contained in this comment, which are
outside the scope of the proposed
regulations.
Special Analyses
It has been determined that these
regulations are not a significant
regulatory action as defined in
Executive Order 12866, as
supplemented by Executive Order
13563. Therefore, a regulatory
assessment is not required. It has also
been determined that section 553(b) of
the Administrative Procedure Act (5
U.S.C. chapter 5) does not apply to these
regulations, and because the regulations
do not impose a collection of
information, the Regulatory Flexibility
Act (5 U.S.C. chapter 6) does not apply.
Pursuant to section 7805(f) of the Code,
the notice of proposed rulemaking
preceding this regulation was submitted
to the Chief Counsel for Advocacy of the
Small Business Administration for
comment on its impact on small
business.
Drafting Information
The principal author of these
regulations is Anand Desai, Office of
Associate Chief Counsel (International).
However, other personnel from the
Treasury Department and the IRS
participated in their development.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and
recordkeeping requirements.
Adoption of Amendments to the
Regulations
Accordingly, 26 CFR part 1 is
amended as follows:
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 * * *
Par. 2. Section 1.6038A–1 is amended
by revising the third sentence of, and
adding a new fourth sentence to,
paragraph (n)(2), and adding a third
sentence to paragraph (n)(3), to read as
follows:
■
§ 1.6038A–1
definitions.
*
*
*
(n) * * *
E:\FR\FM\24DER1.SGM
24DER1
General requirements and
*
*
Federal Register / Vol. 79, No. 247 / Wednesday, December 24, 2014 / Rules and Regulations
(2) Section 1.6038A–2. * * * Section
1.6038A–2(d) applies for taxable years
ending on or after June 10, 2011. For
taxable years ending on or after June 10,
2011, but before December 24, 2014, see
§ 1.6038A–2(e) as contained in 26 CFR
part 1 revised as of April 1, 2014. * * *
(3) Section 1.6038A–4. * * * For
taxable years ending before December
24, 2014, see § 1.6038A–4(a)(1) as
contained in 26 CFR part 1 revised as of
April 1, 2014.
*
*
*
*
*
ENVIRONMENTAL PROTECTION
AGENCY
§ 1.6038A–2
AGENCY:
[Amended]
Par. 3. Section 1.6038A–2 is amended
by:
■ 1. Removing paragraph (e).
■ 2. Redesignating paragraphs (f), (g),
and (h) as paragraphs (e), (f), and (g),
respectively.
■
Par. 4. Section 1.6038A–4 is amended
by revising paragraph (a)(1) to read as
follows:
■
§ 1.6038A–4
Monetary penalty.
mstockstill on DSK4VPTVN1PROD with RULES
(a) * * *
(1) In general. If a reporting
corporation fails to furnish the
information described in § 1.6038A–2
within the time and manner prescribed
in § 1.6038A–2(d), fails to maintain or
cause another to maintain records as
required by § 1.6038A–3, or (in the case
of records maintained outside the
United States) fails to meet the non-U.S.
record maintenance requirements
within the applicable time prescribed in
§ 1.6038A–3(f), a penalty of $10,000
shall be assessed for each taxable year
with respect to which such failure
occurs. The filing of a substantially
incomplete Form 5472 constitutes a
failure to file Form 5472. Where,
however, the information described in
§ 1.6038A–2(b)(3) through (5) is not
required to be reported, a Form 5472
filed without such information is not a
substantially incomplete Form 5472.
*
*
*
*
*
John Dalrymple,
Deputy Commissioner for Services and
Enforcement.
Approved: December 8, 2014.
Mark J. Mazur,
Assistant Secretary for the Treasury (Tax
Policy).
[FR Doc. 2014–30200 Filed 12–23–14; 8:45 am]
BILLING CODE 4830–01–P
VerDate Sep<11>2014
16:05 Dec 23, 2014
Jkt 235001
40 CFR Part 81
[EPA–HQ–OAR–2013–0694, FRL–9920–83Region 4]
Identification of Nonattainment
Classification and Deadlines for
Submission of State Implementation
Plan (SIP) Provisions for the 1997 Fine
Particle (PM2.5) National Ambient Air
Quality Standards (NAAQS) and 2006
PM2.5 NAAQS; Correcting Amendment
Environmental Protection
Agency.
ACTION: Final rule; correcting
amendment.
On June 2, 2014, the
Environmental Protection Agency (EPA)
published a final rule in the Federal
Register updating the Code of Federal
Regulations (CFR) concerning the
designations of areas for air quality
planning purposes for the 1997 and
2006 PM2.5 National Ambient Air
Quality Standards (NAAQS)
nonattainment areas. This correcting
amendment corrects errors in the
regulatory text of EPA’s June 2, 2014,
final rule related to the designations of
the Macon, Georgia, and Rome, Georgia,
areas for the 1997 Annual PM2.5
NAAQS.
DATES: This final rule is effective
December 24, 2014.
ADDRESSES: Copies of the
documentation used in the action being
corrected are available for inspection
during normal business hours at the
following location: U.S. Environmental
Protection Agency, Region 4, 61 Forsyth
Street, SW., Atlanta, Georgia 30303–
8960. The Regional Office’s official
hours of business are Monday through
Friday, 8:30 to 4:30, excluding federal
holidays.
FOR FURTHER INFORMATION CONTACT: For
further general information on this
correcting amendment, contact Tiereny
Bell, Regulatory Development Section,
Air Planning Branch, Air, Pesticides and
Toxics Management Division, U.S.
Environmental Protection Agency,
Region 4, 61 Forsyth Street, SW.,
Atlanta, Georgia 30303–8960. Ms. Bell
may be reached by phone at (404) 562–
9088 or via electronic mail at
bell.tiereny@epa.gov.
SUPPLEMENTARY INFORMATION: This
action corrects inadvertent errors in a
rulemaking entitled ‘‘Identification of
Nonattainment Classification and
Deadlines for Submission of State
Implementation Plan (SIP) Provisions
for the 1997 Fine Particle (PM2.5)
SUMMARY:
PO 00000
Frm 00017
Fmt 4700
Sfmt 4700
77389
National Ambient Air Quality Standard
(NAAQS) and 2006 PM2.5 NAAQS’’
related to the designations of areas for
air quality planning purposes for the
1997 and 2006 PM2.5 NAAQS
nonattainment areas published on June
2, 2014. See 79 FR 31566. In EPA’s June
2, 2014, final rulemaking, EPA
incorrectly identified ‘‘Rome, Georgia:
Floyd County’’ as a nonattainment area
in the regulatory table in 40 CFR 81.311
listing area designations for the 1997
Annual PM2.5 NAAQS in the State of
Georgia. EPA took final action on May
14, 2014 (effective June 13, 2014), to
redesignate the Rome, Georgia PM2.5
nonattainment area (Rome Area) as
attainment for the 1997 Annual PM2.5
NAAQS. See 79 FR 27493. The Rome
Area is comprised of Floyd County in
Georgia. In addition, in EPA’s June 2,
2014, final rulemaking, EPA incorrectly
identified ‘‘Macon, Georgia: Bibb
County and Monroe County (part)’’ as a
nonattainment area in the regulatory
table in 40 CFR 81.311 listing area
designations for the 1997 Annual PM2.5
NAAQS in the State of Georgia. EPA
took final action on May 13, 2014
(effective June 12, 2014), to redesignate
the Macon, Georgia PM2.5
nonattainment area (Macon Area) as
attainment for the 1997 Annual PM2.5
NAAQS. See 79 FR 27193. The Macon
Area is comprised of Bibb County and
a portion of Monroe County in Georgia.
Today, EPA is correcting the inadvertent
errors in EPA’s June 2, 2014, rulemaking
by changing the regulatory table in 40
CFR 81.311 to reflect that EPA has
redesignated the Rome and Macon
Areas as attainment for the 1997 Annual
PM2.5 NAAQS.
EPA has determined that today’s
action falls under the ‘‘good cause’’
exemption in section 553(b)(3)(B) of the
Administrative Procedure Act (APA)
which, upon finding ‘‘good cause,’’
authorizes agencies to dispense with
public participation where public notice
and comment procedures are
impracticable, unnecessary, or contrary
to the public interest. Public notice and
comment procedures are unnecessary
for today’s action because this action
merely corrects the aforementioned
inadvertent errors in the regulatory text
and has no substantive impact on EPA’s
June 2, 2014, action. In addition, EPA
can identify no particular reason why
the public would be interested in having
the opportunity to comment on this
correction prior to this action being
finalized because this correction action
does not change or reopen EPA’s
redesignations of the Rome and Macon
Areas for the 1997 Annual PM2.5
NAAQS.
E:\FR\FM\24DER1.SGM
24DER1
]]>Agencies
[Federal Register Volume 79, Number 247 (Wednesday, December 24, 2014)]
[Rules and Regulations]
[Pages 77388-77389]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-30200]
=======================================================================
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9707]
RIN 1545-BM08
Filing of Form 5472
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Final regulations.
-----------------------------------------------------------------------
SUMMARY: This document contains final regulations concerning the manner
of filing Form 5472, ``Information Return of a 25% Foreign-Owned U.S.
Corporation or a Foreign Corporation Engaged in a U.S. Trade or
Business.'' The final regulations affect certain 25-percent foreign-
owned domestic corporations and certain foreign corporations that are
engaged in a trade or business in the United States that are required
to file Form 5472.
DATES: Effective date: These regulations are effective on December 24,
2014. Applicability date: For dates of applicability, see Sec. Sec.
1.6038A-1(n)(2) and (n)(3) and 1.6038A-2(g).
FOR FURTHER INFORMATION CONTACT: Anand Desai at (202) 317-6939 (not a
toll-free number).
SUPPLEMENTARY INFORMATION:
Background
On June 6, 2014, the Department of the Treasury (Treasury
Department) and the IRS published a notice of proposed rulemaking (REG-
114942-14) in the Federal Register (79 FR 32687, 2014-26 IRB 1117)
under sections 6038A and 6038C of the Internal Revenue Code (Code)
(proposed regulations). The proposed regulations proposed removing a
provision for timely filing Form 5472 separately from an income tax
return that is untimely filed (``untimely filed return provision''). As
a result, Form 5472 would be required to be filed in all cases only
with the filer's income tax return for the taxable year by the due date
(including extensions) of that return. No public hearing was requested
or held. The Treasury Department and the IRS received two written
comments on the proposed regulations, which are available at
www.regulations.gov. After consideration of the comments, this Treasury
decision adopts the proposed regulations, without substantive change,
as final regulations.
Summary of Comments
One comment recommended that the ``untimely filed return
provision'' be retained because the IRS may not timely receive the
information required by Form 5472 if the untimely filed return
provision is removed. The comment also recommended conforming changes
to permit the filing of Form 5471, ``Information Return of U.S. Persons
With Respect to Certain Foreign Corporations,'' and Form 8865, ``Return
of U.S. Persons With Respect to Certain Foreign Partnerships,''
separately from an income tax return that is untimely filed.
The Treasury Department and the IRS decline to adopt this comment.
The Treasury Department and the IRS have determined that tax
administration generally is more efficient when forms (for example,
Form 5471, Form 5472, and Form 8865) are filed with the filer's timely
filed income tax return.
The second comment addressed issues unrelated to the proposed
regulatory change. The final regulations do not incorporate the
suggestions contained in this comment, which are outside the scope of
the proposed regulations.
Special Analyses
It has been determined that these regulations are not a significant
regulatory action as defined in Executive Order 12866, as supplemented
by Executive Order 13563. Therefore, a regulatory assessment is not
required. It has also been determined that section 553(b) of the
Administrative Procedure Act (5 U.S.C. chapter 5) does not apply to
these regulations, and because the regulations do not impose a
collection of information, the Regulatory Flexibility Act (5 U.S.C.
chapter 6) does not apply. Pursuant to section 7805(f) of the Code, the
notice of proposed rulemaking preceding this regulation was submitted
to the Chief Counsel for Advocacy of the Small Business Administration
for comment on its impact on small business.
Drafting Information
The principal author of these regulations is Anand Desai, Office of
Associate Chief Counsel (International). However, other personnel from
the Treasury Department and the IRS participated in their development.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements.
Adoption of Amendments to the Regulations
Accordingly, 26 CFR part 1 is amended as follows:
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 1.6038A-1 is amended by revising the third sentence of,
and adding a new fourth sentence to, paragraph (n)(2), and adding a
third sentence to paragraph (n)(3), to read as follows:
Sec. 1.6038A-1 General requirements and definitions.
* * * * *
(n) * * *
[[Page 77389]]
(2) Section 1.6038A-2. * * * Section 1.6038A-2(d) applies for
taxable years ending on or after June 10, 2011. For taxable years
ending on or after June 10, 2011, but before December 24, 2014, see
Sec. 1.6038A-2(e) as contained in 26 CFR part 1 revised as of April 1,
2014. * * *
(3) Section 1.6038A-4. * * * For taxable years ending before
December 24, 2014, see Sec. 1.6038A-4(a)(1) as contained in 26 CFR
part 1 revised as of April 1, 2014.
* * * * *
Sec. 1.6038A-2 [Amended]
0
Par. 3. Section 1.6038A-2 is amended by:
0
1. Removing paragraph (e).
0
2. Redesignating paragraphs (f), (g), and (h) as paragraphs (e), (f),
and (g), respectively.
0
Par. 4. Section 1.6038A-4 is amended by revising paragraph (a)(1) to
read as follows:
Sec. 1.6038A-4 Monetary penalty.
(a) * * *
(1) In general. If a reporting corporation fails to furnish the
information described in Sec. 1.6038A-2 within the time and manner
prescribed in Sec. 1.6038A-2(d), fails to maintain or cause another to
maintain records as required by Sec. 1.6038A-3, or (in the case of
records maintained outside the United States) fails to meet the non-
U.S. record maintenance requirements within the applicable time
prescribed in Sec. 1.6038A-3(f), a penalty of $10,000 shall be
assessed for each taxable year with respect to which such failure
occurs. The filing of a substantially incomplete Form 5472 constitutes
a failure to file Form 5472. Where, however, the information described
in Sec. 1.6038A-2(b)(3) through (5) is not required to be reported, a
Form 5472 filed without such information is not a substantially
incomplete Form 5472.
* * * * *
John Dalrymple,
Deputy Commissioner for Services and Enforcement.
Approved: December 8, 2014.
Mark J. Mazur,
Assistant Secretary for the Treasury (Tax Policy).
[FR Doc. 2014-30200 Filed 12-23-14; 8:45 am]
BILLING CODE 4830-01-P
