Department of the Treasury December 24, 2014 – Federal Register Recent Federal Regulation Documents

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.

The OCC, Board, FDIC, Commission, FHFA, and HUD (the agencies) are adopting a joint final rule (the rule, or the final rule) to implement the credit risk retention requirements of section 15G of the Securities Exchange Act of 1934, as added by section 941 of the Dodd- Frank Wall Street Reform and Consumer Protection Act (the Act or Dodd- Frank Act). Section 15G generally requires the securitizer of asset- backed securities to retain not less than 5 percent of the credit risk of the assets collateralizing the asset-backed securities. Section 15G includes a variety of exemptions from these requirements, including an exemption for asset-backed securities that are collateralized exclusively by residential mortgages that qualify as ``qualified residential mortgages,'' as such term is defined by the agencies by rule.