Transfers of Certain Property by U.S. Persons to Partnerships With Related Foreign Partners; Correction, 41885 [2017-18691]
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Federal Register / Vol. 82, No. 170 / Tuesday, September 5, 2017 / Rules and Regulations
this regulation is consistent with the
guidance therein.
G. Executive Orders 12372 and 13132:
Federalism
This regulation will not have
substantial direct effects on the States,
on the relationship between the national
government and the States, or the
distribution of power and
responsibilities among the various
levels of government. Nor will the rule
have federalism implications warranting
the application of Executive Orders
12372 and 13132.
H. Executive Order 13175—
Consultation and Coordination With
Indian Tribal Governments
The Department of State has
determined that this rulemaking will
not have tribal implications, will not
impose substantial direct compliance
costs on Indian tribal governments, and
will not pre-empt tribal law.
Accordingly, the requirements of
section 5 of Executive Order 13175 do
not apply to this rulemaking.
nonimmigrant may apply for a waiver of
the visa and passport requirement if,
either prior to the nonimmigrant’s
embarkation abroad or upon arrival at a
port of entry, the Department of
Homeland Security (DHS), U.S. Customs
and Border Protection (CBP) district
director concludes that the
nonimmigrant is unable to present the
required documents because of an
unforeseen emergency. The CBP district
director may grant a waiver of the visa
or passport requirement pursuant to
INA 212(d)(4)(A), without the prior
concurrence of the Department of State,
if the CBP district director concludes
that the nonimmigrant’s claim of
emergency circumstances is legitimate
and that approval of the waiver would
be appropriate under all of the attendant
facts and circumstances.
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Carl C. Risch,
Assistant Secretary for Consular Affairs,
Department of State.
[FR Doc. 2017–18750 Filed 9–1–17; 8:45 am]
DEPARTMENT OF THE TREASURY
List of Subjects in 22 CFR Part 41
26 CFR Part 1
Aliens, Foreign officials, Immigration,
Passports and visas, Students.
Accordingly, for the reasons set forth
in the preamble, 22 CFR part 41 is
amended as follows:
[TD 9814]
PART 41—VISAS—DOCUMENTATION
OF NONIMMIGRANTS UNDER THE
IMMIGRATION AND NATIONALITY
ACT, AS AMENDED
1. The authority citation for part 41 is
revised to read as follows:
■
Authority: 22 U.S.C. 2651a; 8 U.S.C. 1104;
8 U.S.C. 1323; Pub. L. 105–277, 112 Stat.
2681–795 through 2681–801; 8 U.S.C. 1185
note (section 7209 of Pub. L. 108–458, as
amended by section 546 of Pub. L. 109–295).
2. Section 41.2 is amended by revising
paragraph (i) to read as follows:
■
§ 41.2 Exemption or waiver by Secretary of
State and Secretary of Homeland Security
of passport and/or visa requirements for
certain categories of nonimmigrants.
mstockstill on DSK30JT082PROD with RULES
Ronald M. Gootzeit, (202) 317–6937 (not
a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The temporary regulations that are the
subject of this correction are under
section 721(c) of the Code.
Need for Correction
As published, the temporary
regulations contain errors that may
prove to be misleading and need to be
clarified.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and
recordkeeping requirements.
Correction of Publication
Accordingly, 26 CFR part 1 is
corrected by making the following
correcting amendments:
PART 1—INCOME TAXES
Paragraph 1. The authority citation
for part 1 continues to read in part as
follows:
■
This rule does not impose or revise
information collections subject to the
provisions of the Paperwork Reduction
Act, 44 U.S.C., Chapter 35.
*
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(i) Individual cases of unforeseen
emergencies. Except as provided in
paragraphs (a) through (h) and (j)
through (l) of this section, all
nonimmigrants are required to present a
valid, unexpired visa and passport upon
arrival in the United States. A
16:52 Sep 01, 2017
FOR FURTHER INFORMATION CONTACT:
BILLING CODE 4710–06–P
I. Paperwork Reduction Act
VerDate Sep<11>2014
41885
Jkt 241001
Authority: 26 U.S.C. 7805 * * *
Internal Revenue Service
Par. 2. Section 1.721(c)–1T is
amended by revising paragraph
(b)(10)(vi) to read as follows:
■
RIN 1545–BM95
§ 1.721(c)–1T Overview, definitions, and
rules of general application (temporary).
Transfers of Certain Property by U.S.
Persons to Partnerships With Related
Foreign Partners; Correction
*
Internal Revenue Service (IRS),
Treasury.
ACTION: Final and temporary
regulations; correcting amendment.
AGENCY:
This document contains
corrections to the temporary regulations
(T.D. 9814) that were published in the
Federal Register on Thursday, January
19, 2017 (82 FR 7582). The regulations
address transfers of appreciated
property by United States persons to
partnerships with foreign partners
related to the transferor. The regulations
override the rules providing for
nonrecognition of gain on a contribution
of property to a partnership in exchange
for an interest in the partnership under
section 721(a) of the Internal Revenue
Code (Code) pursuant to section 721(c)
unless the partnership adopts the
remedial method and certain other
requirements are satisfied.
DATES: These corrections are effective
on September 5, 2017 and applicable on
January 18, 2017.
SUMMARY:
PO 00000
Frm 00061
Fmt 4700
Sfmt 9990
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(b) * * *
(10) * * *
(vi) An allocation of partnership level
ordinary income or loss described in
§ 1.751–1(b)(3).
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Par. 3. Section 1.721(c)–6T is
amended by revising the last sentence of
paragraph (d)(2) to read as follows:
■
§ 1.721(c)–6T Procedural and reporting
requirements (temporary).
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(d) * * *
(2) * * * The partnership must also
attach to its Form 1065 a Schedule K–
1 (Form 1065) for each direct or indirect
partner that is a related foreign person
with respect to the U.S. transferor.
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*
Martin V. Franks,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel, Procedure and Administration.
[FR Doc. 2017–18691 Filed 9–1–17; 8:45 am]
BILLING CODE 4830–01–P
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05SER1
]]>Agencies
[Federal Register Volume 82, Number 170 (Tuesday, September 5, 2017)]
[Rules and Regulations]
[Page 41885]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-18691]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9814]
RIN 1545-BM95
Transfers of Certain Property by U.S. Persons to Partnerships
With Related Foreign Partners; Correction
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Final and temporary regulations; correcting amendment.
-----------------------------------------------------------------------
SUMMARY: This document contains corrections to the temporary
regulations (T.D. 9814) that were published in the Federal Register on
Thursday, January 19, 2017 (82 FR 7582). The regulations address
transfers of appreciated property by United States persons to
partnerships with foreign partners related to the transferor. The
regulations override the rules providing for nonrecognition of gain on
a contribution of property to a partnership in exchange for an interest
in the partnership under section 721(a) of the Internal Revenue Code
(Code) pursuant to section 721(c) unless the partnership adopts the
remedial method and certain other requirements are satisfied.
DATES: These corrections are effective on September 5, 2017 and
applicable on January 18, 2017.
FOR FURTHER INFORMATION CONTACT: Ronald M. Gootzeit, (202) 317-6937
(not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The temporary regulations that are the subject of this correction
are under section 721(c) of the Code.
Need for Correction
As published, the temporary regulations contain errors that may
prove to be misleading and need to be clarified.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements.
Correction of Publication
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 1.721(c)-1T is amended by revising paragraph
(b)(10)(vi) to read as follows:
Sec. 1.721(c)-1T Overview, definitions, and rules of general
application (temporary).
* * * * *
(b) * * *
(10) * * *
(vi) An allocation of partnership level ordinary income or loss
described in Sec. 1.751-1(b)(3).
* * * * *
0
Par. 3. Section 1.721(c)-6T is amended by revising the last sentence of
paragraph (d)(2) to read as follows:
Sec. 1.721(c)-6T Procedural and reporting requirements (temporary).
* * * * *
(d) * * *
(2) * * * The partnership must also attach to its Form 1065 a
Schedule K-1 (Form 1065) for each direct or indirect partner that is a
related foreign person with respect to the U.S. transferor.
* * * * *
Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division,
Associate Chief Counsel, Procedure and Administration.
[FR Doc. 2017-18691 Filed 9-1-17; 8:45 am]
BILLING CODE 4830-01-P
