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TREAS/IRS RIN: 1545-BO16 Publication ID: Spring 2025 
Title: Foreign Statement Reserves Under Section 954(i) for Purposes of Measuring Qualified Insurance Income 
Abstract:

These proposed regulations will provide guidance for determining when a controlled foreign corporation that is a qualifying insurance corporation under section 954(i) of the Internal Revenue Code may use its foreign statement reserves in lieu of the reserves required under section 954(i)(4)(B)(i) for certain life insurance and annuity contracts for purposes of measuring qualified insurance income.

 
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 
EO 14192 Designation: Other 
CFR Citation: Not Yet Determined     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 26 U.S.C. 7805    26 U.S.C. 954(i)(4)(B)(ii)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  05/00/2026 
Additional Information: REG-132592-17 (NPRM) Drafter attorney: Josephine Firehock (202) 317-4932 Reviewer attorney: Je Baik (202) 912-651-1170 Treasury attorney: Angela Walitt (202) 622-1787 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 
Agency Contact:
Josephine H. Firehock
Attorney-Advisor
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 317-4932
Fax:855 589-8672
Email: josephine.firehock@irscounsel.treas.gov