Date: 2016-12-28
Links to Federal Register: HTML, PDF
(Proposed Regulation: REG-140974-11 / TD 9650 HTML, PDF)
Document Number: 2016-30712, RIN: 1545-BK66
Action: Final regulations and removal of temporary regulations.
Abstract: This document contains final regulations that provide guidance on determining ownership of a passive foreign investment company (PFIC) and on certain annual reporting requirements for shareholders of PFICs to file Form 8621, "Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund." In addition, the final regulations provide guidance on an exception to the requirement for certain shareholders of foreign corporations to file Form 5471, "Information Return of U.S. Persons with Respect to Certain Foreign Corporations." The regulations finalize proposed regulations and withdraw temporary regulations published on December 31, 2013. The final regulations affect United States persons that own interests in PFICs, and certain United States shareholders of foreign corporations.
Notable phrases | Frequency |
---|---|
United States person(s) | 91 |
excess distribution | 39 |
file Form 8621 | 33 |
directly or indirectly | 29 |
required to file | 24 |
marked to market | 11 |
shareholder of a PFIC | 10 |
Reg. Cites | Frequency |
---|---|
1.1298-1 | 9 |
1.1291-1(b)(8) | 8 |
1.1291-1 | 7 |
1.1298-1(c)(1) | 6 |
1.1291-1(b)(8)(ii)(A) | 6 |
1.1291-1(c)(4)(ii) | 6 |
1.1291-1T(b)(8)(ii)(C) | 6 |
1.1291-9 | 5 |
1.6046-1 | 5 |
1.1291-1(b)(7) | 5 |
1.1291-1T(b)(8)(ii)(A) | 5 |
1.6038-2 | 4 |
1.1296-1(i)(2) | 4 |
1.6012-1(b)(2)(ii)(a) | 4 |
301.7701(b)-7(b) | 3 |
1.1298-1T(c)(2) | 3 |
1.1298-1T(b)(3)(ii) | 3 |
1.1291-1(b)(8)(ii)(C)(1) | 3 |
1.1291-1(b)(8)(ii)(C) | 3 |
1.1291-1(b)(8)(ii)(B) | 2 |
Sec. Cites | Frequency |
---|---|
1298(f) | 70 |
1291 | 49 |
1296 | 21 |
1295 | 10 |
671 | 5 |
1291(b) | 4 |
1298(a) | 4 |
7701(a)(31)(B) | 3 |
1298(a)(2)(B) | 2 |
501(c) | 2 |
501(a) | 2 |
1291(a)(2) | 2 |
7701(a)(30)(E) | 2 |
1298 | 2 |
6501(c)(8)(B) | 2 |
6501(c)(8) | 2 |
1291(a)(2) | 2 |
6114 | 2 |
931 | 2 |
Statistics
Number of pages: 12, words: 13,846, sentences: 435
Average words per sentence: 31