Date: 2026-08-14
Links to Federal Register: HTML, PDF
Document Number: 2026-16569, RIN: 1545-BS16
Action: Notice of proposed rulemaking.
Abstract: This document contains proposed regulations providing rules relating to the determination and recognition of foreign currency gain or loss with respect to qualified business units ("QBUs") of controlled foreign corporations ("CFCs"). The proposed regulations provide an election under which a CFC generally would not be required to compute or recognize foreign currency gain or loss upon a remittance from a QBU, except in connection with certain inbound nonrecognition transactions.
| Notable phrases | Frequency |
|---|---|
| cfc exemption election | 170 |
| 987 gain or loss | 161 |
| section 987 qbu | 108 |
| pre-election section 987 gain or loss | 77 |
| inbound nonrecognition transaction | 64 |
| 987 asset basis | 51 |
| unrecognized section 987 gain or loss | 33 |
| excess asset basis | 32 |
| pretransition gain or loss | 30 |
| currency gain or loss | 14 |
| 987 taxable income or loss | 11 |
| deferred section 987 gain or loss | 9 |
| Reg. Cites | Frequency |
|---|---|
| 1.987-15 | 17 |
| 1.987-10 | 15 |
| 1.987-16 | 15 |
| 1.987-10(e)(5)(ii) | 14 |
| 1.367(b)-3(g)(2)(i) | 9 |
| 1.987-6 | 9 |
| 1.987-16(d) | 9 |
| 1.987-1(g)(2) | 8 |
| 1.987-10(c)(1) | 7 |
| 1.987-17 | 7 |
| 1.987-15(e) | 6 |
| 1.987-16(d)(1) | 5 |
| 1.987-1(g)(3) | 5 |
| 1.987-2(b)(2)(i)(a) | 5 |
| 1.987-7(b)(2) | 5 |
| 1.904(i)-1(b) | 4 |
| 1.367(b)-3 | 4 |
| 1.987-10(e)(3) | 4 |
| 1.987-4 | 4 |
| 1.987-10(e)(5)(ii)(a) | 4 |
| Sec. Cites | Frequency |
|---|---|
| 987 | 500 |
| 987(3) | 40 |
| 987(1) | 10 |
| 367(b) | 4 |
| 958(a) | 4 |
| 351 | 3 |
| 989(c) | 3 |
| 989(a) | 3 |
| 957(a) | 3 |
| 7805(f) | 2 |
| 988(a)(3)(B) | 2 |
| 362(b) | 2 |
| 334(b) | 2 |
| 706(d) | 2 |
| 332 | 2 |
| 334(b)(1)(A) | 2 |
| 7805(a) | 1 |
| 861 | 1 |
Statistics
Number of pages: 24, words: 25,364, sentences: 946
Average words per sentence: 26