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TREAS/IRS RIN: 1545-BS16 Publication ID: 2026 
Title: ●Foreign Currency Gain or Loss of Controlled Foreign Corporations 
Abstract:

Regulations providing an election under which CFCs generally would not be required to recognize foreign currency gain or loss under section 987(3) in order to simplify the operation of the existing regulations and reduce compliance burdens on taxpayers.

 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
EO 14192 Designation: Deregulatory 
CFR Citation: Not Yet Determined     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 26 U.S.C. 987 and 989   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  07/00/2026 
Additional Information: REG-103844-26 (NPRM) Drafter attorney: Mark Terrell (646) 259-8431 Reviewer attorney: Raphael Cohen (202) 317-3756 Treasury attorney: TBD CC:INTL
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Mark Terrell
Attorney
Department of the Treasury
Internal Revenue Service
33 Maiden Lane , Cube 14-5,
New York, NY 10038
Phone:646 259-8431
Fax:855 589-8672
Email: mark.t.terrell@irscounsel.treas.gov