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TREAS/IRS RIN: 1545-BO93 Publication ID: Fall 2018 
Title: ●Electing Small Business Trusts With Nonresident Aliens as Potential Current Beneficiaries 

Proposed regulations that provide guidance regarding the expansion of eligible potential current beneficiaries (PCBs) of an electing small business trust (ESBT) to include nonresident aliens (NRAs) by section 13541 of the Tax Cuts and Jobs Act, Pub. L. 115-97, 131 stat. 2054 (2017). These proposed regulations prevent NRAs who are PCBs from avoiding U.S. tax on certain types of S corporation income when these NRAs are owners of grantor trusts electing to be ESBTs.

Agency: Department of the Treasury(TREAS)  Priority: Other Significant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
EO 13771 Designation: Other 
CFR Citation: 26 CFR 1.641(c)-1    26 CFR 1.1361-1   
Legal Authority: 26 U.S.C. 7805    26 U.S.C. 1361(c)(2)(B)(v)   
Legal Deadline:  None
Action Date FR Cite
NPRM  12/00/2018 
Additional Information: REG-117062-18 (NPRM) Drafter attorney: Cynthia Morton (202) 317-4630 Reviewer attorney: Richard Probst (202) 317-5044 Treasury attorney: Catherine Hughes (202) 622-9407 CC:PSI
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:
Cynthia D. Morton
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW., Room 5011,
Washington, DC 20224
Phone:202 317-4630
Fax:855 591-7865