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TREAS/IRS RIN: 1545-BR00 Publication ID: Spring 2025 
Title: 1.355-5 Reg Amendment 
Abstract:

The regulations would update section1.355-5,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 regulation would require the filing of a newly created form by certain taxpayers involved in a 355 transaction. Proposed regulations were published on January 16, 2025.

 

 
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 
EO 14192 Designation: Not subject to, not significant 
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  01/16/2025  90 FR 4687   
NPRM Comment Period End  03/17/2025 
Final Action  12/00/2025 
Additional Information: REG-116085-23 Drafting Attorney: Doug Bates 202-317-6847 Reviewing Attorney: N/A Treasury Attorney: Colin Campbell 202-622-2721; Theron West Jr. 202-622-5975 CC:CORP
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Related RINs: Related to 1545-BR32 
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