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TREAS/IRS RIN: 1545-BK10 Publication ID: Fall 2014 
Title: Modifications to Definition of United States Property Under Section 956 
Abstract:

This temporary and proposed regulation will address modification to definition of United States property to clarify that certain upfront cash payments made by a controlled foreign corporation to its U.S. shareholders that are cleared through a clearinghouse do not constitute "United States property" under section 956.

 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 26 CFR 1.0956-2T   
Legal Authority: 26 USC 7805    26 USC 0956(e)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  05/11/2012  77 FR 27669   
NPRM Comment Period End  08/09/2012 
Final Action  12/00/2014 
Additional Information: REG-107548-11 Drafting attorney: Kristine A. Crabtree (202) 317-6934 Reviewing attorney: Jeffery G. Mitchell (202)317-6934 Treasury attorney: Brian Jenn (202) 622-5967 CC:INTL
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Related RINs: Related to 1545-BK11 
Agency Contact:
Kristine A. Crabtree
Attorney-Advisor
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW., Room 4710,
Washington, DC 20224
Phone:202 317-6934
Fax:202 317-4982
Email: kristine.a.crabtree@irscounsel.treas.gov