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TREAS/IRS RIN: 1545-BL35 Publication ID: Fall 2013 
Title: Treatment of Delay Rental 
Abstract: Under the terms of a mineral lease, a lessee acquires, for a stated term, the right and obligation to obtain production of mineral. Oil and gas leases typically provide that for each year that the lessee fails to make efforts to obtain production, the lessee must pay a "delay rental" to the lessor. Under section 1.612-3(c), the payor has the option to deduct delay rental currently under section 266 or charge it to depletable capital account. This project would amend the regulations to allow this treatment only to the extent section 263A does not require capitalization. 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 26 CFR 1.612-3   
Legal Authority: 26 USC 7805    26 USC 612   
Legal Deadline:  None
Action Date FR Cite
NPRM  12/00/2013 
Additional Information: REG-148392-12 Drafting attorney: Brian J. Americus (202) 622-3110 Reviewing attorney: Brenda Stewart Treasury attorney: Chris Kelley CC:PSI
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Brian J. Americus
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW., Room 5108,
Washington, DC 20221
Phone:202 622-3110
Fax:202 622-4524

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