Dividend Equivalents From Sources Within the United States; Correction, 75946-75947 [2015-30778]
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75946
Federal Register / Vol. 80, No. 234 / Monday, December 7, 2015 / Rules and Regulations
Par. 2. Section 1.871–15 is amended
by revising paragraphs (i)(4) Example 1.
(ii), (i)(4) Example 2. (ii), (r)(1), and
(r)(3) and adding paragraph (r)(4) to read
as follows:
■
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9734]
§ 1.871–15 Treatment of dividend
equivalents.
RIN 1545–BJ56
*
Dividend Equivalents From Sources
Within the United States; Correction
Internal Revenue Service (IRS),
Treasury.
ACTION: Final and temporary
regulations; correcting amendment.
AGENCY:
This document contains
corrections to final and temporary
regulations (TD 9734) that was
published in the Federal Register on
September 18, 2015 (80 FR 56866).
These corrections include a change to
the effective date that was applicable to
transactions issued on or after January 1,
2016, and before January 1, 2017. This
document provides guidance to
nonresident alien individuals and
foreign corporations that hold certain
financial products providing for
payments that are contingent upon or
determined by reference to U.S. source
dividend payments.
DATES: This correction is effective on
December 7, 2015 and applicable on
September 18, 2015.
FOR FURTHER INFORMATION CONTACT:
Peter Merkel or Karen Walny at (202)
317–6938 (not a toll free number).
SUPPLEMENTARY INFORMATION:
SUMMARY:
Background
The final and temporary regulations
(TD 9734) that are the subject of this
correction are under sections 871 and
894 of the Internal Revenue Code.
Need for Correction
As published, the final and temporary
regulations (TD 9734) contain errors that
may prove to be misleading and are in
need of clarification.
*
*
(i) * * *
(4) * * *
*
*
Example 1. * * *
(ii) Subject to paragraph (i)(2)(iv) of this
section, the estimated dividend amounts are
the per-share dividend amounts because the
estimates are reasonable and specified in
accordance with paragraph (i)(2)(iii) of this
section. The estimated per-share dividend
amounts are dividend equivalents for
purposes of this section.
Example 2. * * *
(ii) Because the LIBOR leg of the swap
contract is reduced to reflect estimated
dividends and the estimated dividend
amounts are not specified, Foreign Investor is
treated as receiving the actual dividend
amounts are in accordance with paragraph
(i)(2) of this section. The actual per-share
dividend amounts are dividend equivalents
for purposes of this section.
*
*
*
*
*
(r) * * * (1) In general. This section
applies to payments made on or after
September 18, 2015 except as provided
in paragraphs (r)(2), (3), and (4) of this
section.
*
*
*
*
*
(3) Effective/applicability date for
paragraphs (d)(2) and (e). Paragraphs
(d)(2) and (e) of this section apply to any
payment made on or after January 1,
2017, with respect to any transaction
issued on or after January 1, 2017.
(4) Effective/applicability date for
paragraphs (c)(2)(iv), (h), and (q) of this
section. [Reserved]. For further
guidance, see § 1.871–15T(r)(4).
■ Par. 3. Section 1.871–15T is amended
by removing the language ‘‘transaction’’
and adding in its place ‘‘complex
contract’’ in paragraph (h)(7) Example.
(iv) and revising paragraph (h)(7)
Example. (viii) to read as follows:
§ 1.1441–1 Requirements for the deduction
and withholding of tax on payments to
foreign persons.
*
*
*
*
*
(e) * * *
(3) * * *
(ii) * * *
(F) [Reserved]. For further guidance,
see § 1.1441–1T(e)(3)(ii)(F).
*
*
*
*
*
■ Par. 5. Section 1.1441–1T is amended
by revising the last sentence of
paragraph (f)(3) to read as follows:
§ 1.1441–1T Requirements for the
deduction and withholding of tax on
payments to foreign persons (temporary).
*
*
*
*
*
(f) * * *
(3) * * * Paragraphs (e)(3)(ii)(E) and
(e)(6) of this section apply beginning
September 18, 2015.
*
*
*
*
*
■ Par. 6. Section 1.1461–1 is amended
by adding a second sentence to
paragraph (c)(2)(iii) to read as follows:
§ 1.1461–1
withheld.
Payments and returns of tax
*
*
*
*
*
(c) * * *
(2) * * *
(iii) * * * Paragraphs (c)(2)(i)(M) and
(c)(2)(ii)(J) of this section apply
beginning September 18, 2015.
*
*
*
*
*
Martin V. Franks,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel (Procedure and Administration).
[FR Doc. 2015–30777 Filed 12–4–15; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9734]
RIN 1545–BJ56
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and
recordkeeping requirements.
§ 1.871–15T Treatment of dividend
equivalents (temporary).
Dividend Equivalents From Sources
Within the United States; Correction
*
AGENCY:
jstallworth on DSK7TPTVN1PROD with RULES
Correction of Publication
Accordingly, 26 CFR part 1 is
corrected by making the following
correcting amendments:
PART 1—INCOME TAXES
Authority: 26 U.S.C. 7805 * * *
15:15 Dec 04, 2015
*
*
Example. * * *
(viii) FI concludes that the Contract is not
a section 871(m) transaction because the
complex contract calculation of 7.68 exceeds
the benchmark calculation of 4.473.
*
Paragraph 1. The authority citation
for part 1 continues to read in part as
follows:
■
VerDate Sep<11>2014
*
*
(h) * * *
(7) * * *
Jkt 238001
*
*
*
*
■ Par. 4. Section 1.1441–1 is amended
by removing the second occurrence of
paragraph (e)(3)(ii)(E) and adding
paragraph (e)(3)(ii)(F) to read as follows:
PO 00000
Frm 00024
Fmt 4700
Sfmt 4700
Internal Revenue Service (IRS),
Treasury.
ACTION: Final and temporary
regulations; correction.
This document contains
corrections to final and temporary
regulations (TD 9734) that was
published in the Federal Register on
September 18, 2015 (80 FR 56866).
These corrections include a change to
the effective date that was applicable to
transactions issued on or after January 1,
SUMMARY:
E:\FR\FM\07DER1.SGM
07DER1
Federal Register / Vol. 80, No. 234 / Monday, December 7, 2015 / Rules and Regulations
2016, and before January 1, 2017. This
document provides guidance to
nonresident alien individuals and
foreign corporations that hold certain
financial products providing for
payments that are contingent upon or
determined by reference to U.S. source
dividend payments.
DATES: This correction is effective on
December 7, 2015 and applicable on
September 18, 2015.
FOR FURTHER INFORMATION CONTACT:
Peter Merkel or Karen Walny at (202)
317–6938 (not a toll free number).
SUPPLEMENTARY INFORMATION:
Background
The final and temporary regulations
(TD 9734) that are the subject of this
correction are under sections 871 and
894 of the Internal Revenue Code.
Need for Correction
As published, the final and temporary
regulations (TD 9734) contain errors that
may prove to be misleading and are in
need of clarification.
jstallworth on DSK7TPTVN1PROD with RULES
Correction of Publication
Accordingly, the final and temporary
regulations (TD 9734), that are the
subject of FR Doc. 2015–21759, are
corrected as follows:
1. On page 56866, in the preamble,
the first column, under the caption
‘‘DATES’’, the fourth through seventh
lines of the paragraph, the language
‘‘applicability, see §§ 1.871–14(j)(3),
1.871–15(r), 1.871–15T(r)(4), 1.1441–
1(f)(4), 1.1441–1T(f)(3), 1.1441–2(f),
1.1441–3(h)(3), 1.1441–7(a)(4), and ’’ is
corrected to read ‘‘applicability, see
§§ 1.871–14(j)(3), 1.871–15(r), 1.871–
15T(r)(4), 1.1441–1(f)(4), 1.1441–
1T(f)(3), 1.1441–2(f), 1.1441–3(h)(3),
1.1441–7(a)(4), 1.1461–1(c)(2)(iii), and’’.
2. On page 56866, in the preamble,
the first column, the eleventh line from
the bottom of the column, the language
‘‘871(m). This information will be used’’
is corrected to read ‘‘871(m) of the
Internal Revenue Code. This
information will be used’’.
3. On page 56868, in the preamble,
the first column, the ninth line from the
bottom of the column, the language
‘‘discussed in section E.1 of this’’ is
corrected to read ‘‘discussed in section
F.1 of this’’.
4. On page 56869, in the preamble,
the second column, the tenth line of the
first full paragraph, the language
‘‘dividends. As noted in Part II.L. of
this’’ is corrected to read ‘‘dividends. As
noted in Part II.M. of this’’.
5. On page 56870, in the preamble,
the first column, the thirty-second line
from the bottom of the column, the
VerDate Sep<11>2014
15:15 Dec 04, 2015
Jkt 238001
language ‘‘D. Payment of a Dividend
Equivalent’’ is corrected to read ‘‘E.
Payment of a Dividend Equivalent’’.
6. On page 56870, in the preamble,
the second column, the twenty-second
line of the second full paragraph, the
language ‘‘equivalent, as discussed in
Part II.M of’’ is corrected to read
‘‘equivalent, as discussed in Part II.N
of’’.
7. On page 56870, in the preamble,
the second column, the eighteenth line
from the bottom of the column, the
language ‘‘E. Amount of a Dividend
Equivalent’’ is corrected to read ‘‘F.
Amount of a Dividend Equivalent’’.
8. On page 56870, in the preamble,
the third column, the eleventh line from
the bottom of the column, the language
‘‘defined in § 1.871–15(a)(14)(ii)’’ is
corrected to read ‘‘defined in § 1.871–
15(a)(5)’’.
9. On page 56871, in the preamble,
the first column, the twenty-sixth line
from the bottom of the column, the
language ‘‘F. Qualified Indices’’ is
corrected to read ‘‘G. Qualified Indices’’.
10. On page 56872, in the preamble,
the first column, the last line of the first
full paragraph, the language ‘‘qualified
index rule. See § 1.871–15(l)’’ is
corrected to read ‘‘qualified index rule.
See § 1.871–15(l).’’.
11. On page 56872, in the preamble,
the second column, the sixth line from
the bottom of the column, the language
‘‘G. Combined Transactions’’ is
corrected to read ‘‘H. Combined
Transactions’’.
12. On page 56873, in the preamble,
the third column, the twelfth line from
the top of the column, the language ‘‘H.
Derivatives Referenced to Partnership’’
is corrected to read ‘‘I. Derivatives
Referenced to Partnership’’.
13. On page 56873, in the preamble,
the third column, the fifth line from the
bottom of the column, the language ‘‘I.
Anti-Abuse Rule’’ is corrected to read
‘‘J. Anti-Abuse Rule’’.
14. On page 56874, in the preamble,
the first column, the twenty-fourth line
from the top of the column, the language
‘‘J. Reporting Obligations’’ is corrected
to read ‘‘K. Reporting Obligations’’.
15. On page 56874, in the preamble,
the first column, the fifteenth line of the
second full paragraph, the language
‘‘871(m) transaction the broker or
dealer’’ is corrected to read ‘‘871(m)
transaction, the broker or dealer’’.
16. On page 56874, in the preamble,
the third column, the first line of
column, the language ‘‘K.
Recordkeeping Rules’’ is corrected to
read ‘‘L. Recordkeeping Rules’’.
17. On page 56874, in the preamble,
the third column, the thirty-second line
from the top of column, the language ‘‘L.
PO 00000
Frm 00025
Fmt 4700
Sfmt 4700
75947
Contingent and Convertible Debt’’ is
corrected to read ‘‘M. Contingent and
Convertible Debt’’.
18. On page 56875, in the preamble,
the second column, the third line from
the top of the column, the language ‘‘M.
Amounts Subject to Withholding’’ is
corrected to read ‘‘N. Amounts Subject
to Withholding’’.
19. On page 56877, in the preamble,
the second column, the fifth line from
the bottom of the third full paragraph,
the language ‘‘on the same underlying
securities.’’ is corrected to read ‘‘on the
same underlying security.’’.
20. On page 56878, in the preamble,
the second column, under the paragraph
heading ‘‘IV. Effective/Applicability
Date’’, the third sentence of the first full
paragraph is removed.
Martin V. Franks,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel, (Procedure and Administration).
[FR Doc. 2015–30778 Filed 12–4–15; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF DEFENSE
Department of the Army, Corps of
Engineers
33 CFR Part 334
West Arm Behm Canal, Naval Surface
Warfare Center, Ketchikan, Alaska;
Restricted Areas
AGENCY:
U.S. Army Corps of Engineers,
DoD.
ACTION:
Final rule.
The U.S. Army Corps of
Engineers (Corps) is amending existing
regulations for an existing restricted
area near Ketchikan, Alaska to correct
inaccuracies in regards to flashing
beacon light descriptions, point of
contact changes, and restrictive area
distances for small craft.
DATES: Effective date: January 6, 2016.
ADDRESSES: U.S. Army Corps of
Engineers, Attn: CECW–CO (David B.
Olson), 441 G Street NW., Washington,
DC 20314–1000.
FOR FURTHER INFORMATION CONTACT: Mr.
David Olson, Headquarters, Operations
and Regulatory Community of Practice,
Washington, DC at 202–761–4922 or Ms.
Linda Speerstra, U.S. Army Corps of
Engineers, Alaska District, Regulatory
Division, at 907–747–0658.
SUPPLEMENTARY INFORMATION: Pursuant
to its authorities in Section 7 of the
Rivers and Harbors Act of 1917 (40 Stat
266; 33 U.S.C. 1) and Chapter XIX of the
Army Appropriations Act of 1919 (40
SUMMARY:
E:\FR\FM\07DER1.SGM
07DER1
]]>Agencies
[Federal Register Volume 80, Number 234 (Monday, December 7, 2015)]
[Rules and Regulations]
[Pages 75946-75947]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-30778]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9734]
RIN 1545-BJ56
Dividend Equivalents From Sources Within the United States;
Correction
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Final and temporary regulations; correction.
-----------------------------------------------------------------------
SUMMARY: This document contains corrections to final and temporary
regulations (TD 9734) that was published in the Federal Register on
September 18, 2015 (80 FR 56866). These corrections include a change to
the effective date that was applicable to transactions issued on or
after January 1,
[[Page 75947]]
2016, and before January 1, 2017. This document provides guidance to
nonresident alien individuals and foreign corporations that hold
certain financial products providing for payments that are contingent
upon or determined by reference to U.S. source dividend payments.
DATES: This correction is effective on December 7, 2015 and applicable
on September 18, 2015.
FOR FURTHER INFORMATION CONTACT: Peter Merkel or Karen Walny at (202)
317-6938 (not a toll free number).
SUPPLEMENTARY INFORMATION:
Background
The final and temporary regulations (TD 9734) that are the subject
of this correction are under sections 871 and 894 of the Internal
Revenue Code.
Need for Correction
As published, the final and temporary regulations (TD 9734) contain
errors that may prove to be misleading and are in need of
clarification.
Correction of Publication
Accordingly, the final and temporary regulations (TD 9734), that
are the subject of FR Doc. 2015-21759, are corrected as follows:
1. On page 56866, in the preamble, the first column, under the
caption ``DATES'', the fourth through seventh lines of the paragraph,
the language ``applicability, see Sec. Sec. 1.871-14(j)(3), 1.871-
15(r), 1.871-15T(r)(4), 1.1441-1(f)(4), 1.1441-1T(f)(3), 1.1441-2(f),
1.1441-3(h)(3), 1.1441-7(a)(4), and '' is corrected to read
``applicability, see Sec. Sec. 1.871-14(j)(3), 1.871-15(r), 1.871-
15T(r)(4), 1.1441-1(f)(4), 1.1441-1T(f)(3), 1.1441-2(f), 1.1441-
3(h)(3), 1.1441-7(a)(4), 1.1461-1(c)(2)(iii), and''.
2. On page 56866, in the preamble, the first column, the eleventh
line from the bottom of the column, the language ``871(m). This
information will be used'' is corrected to read ``871(m) of the
Internal Revenue Code. This information will be used''.
3. On page 56868, in the preamble, the first column, the ninth line
from the bottom of the column, the language ``discussed in section E.1
of this'' is corrected to read ``discussed in section F.1 of this''.
4. On page 56869, in the preamble, the second column, the tenth
line of the first full paragraph, the language ``dividends. As noted in
Part II.L. of this'' is corrected to read ``dividends. As noted in Part
II.M. of this''.
5. On page 56870, in the preamble, the first column, the thirty-
second line from the bottom of the column, the language ``D. Payment of
a Dividend Equivalent'' is corrected to read ``E. Payment of a Dividend
Equivalent''.
6. On page 56870, in the preamble, the second column, the twenty-
second line of the second full paragraph, the language ``equivalent, as
discussed in Part II.M of'' is corrected to read ``equivalent, as
discussed in Part II.N of''.
7. On page 56870, in the preamble, the second column, the
eighteenth line from the bottom of the column, the language ``E. Amount
of a Dividend Equivalent'' is corrected to read ``F. Amount of a
Dividend Equivalent''.
8. On page 56870, in the preamble, the third column, the eleventh
line from the bottom of the column, the language ``defined in Sec.
1.871-15(a)(14)(ii)'' is corrected to read ``defined in Sec. 1.871-
15(a)(5)''.
9. On page 56871, in the preamble, the first column, the twenty-
sixth line from the bottom of the column, the language ``F. Qualified
Indices'' is corrected to read ``G. Qualified Indices''.
10. On page 56872, in the preamble, the first column, the last line
of the first full paragraph, the language ``qualified index rule. See
Sec. 1.871-15(l)'' is corrected to read ``qualified index rule. See
Sec. 1.871-15(l).''.
11. On page 56872, in the preamble, the second column, the sixth
line from the bottom of the column, the language ``G. Combined
Transactions'' is corrected to read ``H. Combined Transactions''.
12. On page 56873, in the preamble, the third column, the twelfth
line from the top of the column, the language ``H. Derivatives
Referenced to Partnership'' is corrected to read ``I. Derivatives
Referenced to Partnership''.
13. On page 56873, in the preamble, the third column, the fifth
line from the bottom of the column, the language ``I. Anti-Abuse Rule''
is corrected to read ``J. Anti-Abuse Rule''.
14. On page 56874, in the preamble, the first column, the twenty-
fourth line from the top of the column, the language ``J. Reporting
Obligations'' is corrected to read ``K. Reporting Obligations''.
15. On page 56874, in the preamble, the first column, the fifteenth
line of the second full paragraph, the language ``871(m) transaction
the broker or dealer'' is corrected to read ``871(m) transaction, the
broker or dealer''.
16. On page 56874, in the preamble, the third column, the first
line of column, the language ``K. Recordkeeping Rules'' is corrected to
read ``L. Recordkeeping Rules''.
17. On page 56874, in the preamble, the third column, the thirty-
second line from the top of column, the language ``L. Contingent and
Convertible Debt'' is corrected to read ``M. Contingent and Convertible
Debt''.
18. On page 56875, in the preamble, the second column, the third
line from the top of the column, the language ``M. Amounts Subject to
Withholding'' is corrected to read ``N. Amounts Subject to
Withholding''.
19. On page 56877, in the preamble, the second column, the fifth
line from the bottom of the third full paragraph, the language ``on the
same underlying securities.'' is corrected to read ``on the same
underlying security.''.
20. On page 56878, in the preamble, the second column, under the
paragraph heading ``IV. Effective/Applicability Date'', the third
sentence of the first full paragraph is removed.
Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division,
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 2015-30778 Filed 12-4-15; 8:45 am]
BILLING CODE 4830-01-P
