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REG-110059-20: Ownership Attribution Under Section 958 for Purposes of Sections 367(a) and 954(c)(6)

Date: 2020-09-22
Links to Federal Register: HTML, PDF
Document Number: 2020-17550, RIN: 1545-BP83
Action: Notice of proposed rulemaking.

Abstract: This document contains proposed regulations relating to the modification of section 958(b) of the Internal Revenue Code ("Code") by the Tax Cuts and Jobs Act, which was enacted on December 22, 2017. The proposed regulations modify the ownership attribution rules applicable to outbound transfers of stock or securities of a domestic corporation under section 367(a). The proposed regulations also narrow the scope of foreign corporations that are treated as controlled foreign corporations for purposes of the look-through rule under section 954(c)(6). The proposed regulations affect United States persons that transfer stock or securities of a domestic corporation to a foreign corporation that are subject to section 367(a), and United States shareholders of foreign corporations.

Word frequency
Notable phrases   Frequency
United States person(s)      24
transfer(s) of stock or securities      7
United States shareholder(s)      6
applying section 318(a)      4

Reg. Cites   Frequency
1.367(a)-3(c)(1)      4
1.367(a)-3(c)(4)(iv)      4
1.954(c)(6)-2      4
1.367(a)-3      3
1.367(a)-3(c)(1)(iii)      3
1.367(a)-3(b)(1)      2
1.367(a)-8      2
1.954-1(f)(2)(iv)      2
1.367(a)-3(c)      2
1.367(a)-3(c)(5)(iii)      1
1.367(a)-3(c)(5)(ii)      1
1.367(a)-3(c)(3)      1
1.367(a)-3(c)(1)(i)      1
301.7701-3      1

Sec. Cites   Frequency
954(c)(6)      19
367(a)      10
958(b)      9
958(b)(4)      9
318      8
318(a)(3)(A)      7
267      4
367(a)(1)      3
367      3
954(c)(6)(A)      3
958(a)      2
958      2
957      2
318(a)(3)      1
958(a)(2)      1
953(c)      1
163(e)      1
7805(f)      1

Authorities Referenced:


Number of pages: 4, words: 4,037, sentences: 108
Average words per sentence: 37