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TREAS/IRS RIN: 1545-BR00 Publication ID: Fall 2024 
Title: 1.355-5 Reg Amendment 
Abstract:

The proposed regulation would update section 1.355-5, which requires a corporation and its shareholders to report to the Internal Revenue Service certain information in the event that the corporation carries out a corporate division under section 355 of the Internal Revenue Code (a 355 transaction). The proposed regulation would require the filing of a newly created form by certain taxpayers involved in a 355 transaction.

 
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    26 CFR 602   
Legal Authority: 26 U.S.C. 355    26 U.S.C. 7805   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  12/00/2024 
Additional Information: Drafting Attorney: Barrett Cappadonna 202-317-5432 Reviewing Attorney: Doug Bates 202-317-5024 Treasury Attorney: Colin Campbell 202-622-2721 CC:CORP REG-116085-23
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Doug Bates
Senior Technician Reviewer
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW,
Washington, DC 20224
Phone:202 317-6847
Fax:855 561-0922
Email: douglas.c.bates@irscounsel.treas.gov