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International PLRs of the 21st week of 2013


For the 21st week of 2013, the IRS published the following Private Letter Rulings relating to international taxation.

PLR 201321001, PLR 201321004, PLR 201321013, PLR 201321014, PLR 201321015 - Late entity classification election for a foreign entity to be treated as a disregarded entity. Form 8832. Treas. Reg. §301.7701-3(c).

PLR 201321007 - Applicability of Code §§361 and 897 to a foreign corporation holding United States Real Property Interests ("USRPIs") when such corporation reincoroporates in the United States.

PLR 201321010 - Late/retroactive passive foreign investment company ("PFIC") qualified electing fund ("QEF") election.  Form 8621.  Treas. Reg. §1.1295-3(f).

PLR 201321011 - A taxpayer may elect to retroactively change from the tax book value (“TBV”) method to the alternative tax book value (“ATBV”) method of asset valuation for purposes of apportioning interest expense.  Temp. Treas. Reg. §1.861-9T(g)(1)(ii).  Treas. Reg. §1.861-9(i).

PLR 201321018 - U.S. corporation's reorganization as a foreign corporation triggered an indirect disposition of its intellectual property.  Code §368(a)(1)(F).   

Tags: 351 Exchanges, 901 Foreign Tax Credits, 1291 PFICs, 7701-3 Check-the-Box Elections, Authority - PLRs / CCAs, Form 8832