1545-BP91 202304 Unified Agenda of Federal Regulatory and Deregulatory Actions 1545 Internal Revenue Service IRS 1500 Department of the Treasury TREAS Exception to Passive Income Characterization of Certain Insurance Companies With Respect to Passive Foreign Investment Companies

This regulation will provide guidance regarding the determination of whether a foreign corporation is treated as a passive foreign investment company ("PFIC") for purposes of the Internal Revenue Code ("Code"). It will also provide guidance regarding the treatment of income and assets of a qualifying insurance corporation ("QIC") that is engaged in the active conduct of an insurance business ("PFIC insurance exception").

]]> Other Significant Previously Published in The Unified Agenda Final Rule Stage No No 26 CFR 1 26 U.S.C. 7805 26 U.S.C. 1297(b)(2)(B) 26 U.S.C. 1298(b)(7) 26 U.S.C. 1297(f)(3)(B)(ii) 26 U.S.C. 1297(f)(4)(A)(iii) 26 U.S.C. 1297(f)(2)(B) No NPRM and NPRM Withdrawal 01/15/2021 86 FR 4582 NPRM Comment Period End 04/14/2021 Final Rule (TD 9956) 09/24/2021 86 FR 52971 Final Rule Effective 09/24/2021 Final Action 05/00/2024 REG-111950-20 (NPRM) Drafter attorneys: Josephine Firehock (202) 317-4932 and Anisa Afshar (202) 317-4999 Reviewer attorneys: Je Baik (202) 317-4942 and Kristine Crabtree (202) 317-4998 Treasury attorneys: Angela Walitt (202) 622-1787 and Erika Nijenhuis (202) 622-0843 CC:INTL No No None No No No Yes Josephine Firehock H. Attorney-Advisor 1545 Internal Revenue Service IRS 202 317-4932 855 589-8672 josephine.firehock@irscounsel.treas.gov 1111 Constitution Avenue NW., Washington DC 20224