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TREAS/IRS | RIN: 1545-BO59 | Publication ID: Spring 2020 |
Title: Exception From Passive Income Under Section 1297 for Certain Foreign Insurance Companies | |
Abstract:
Final regulations under section 1297(b)(2)(B) and 1297(f) addressing when a foreign insurance company's income is excluded from passive income under section 1297(a). The proposed regulation requires that income be derived in the "active conduct" of an "insurance business" by a "qualifying insurance corporation" proposing a definition for each of these terms. |
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Agency: Department of the Treasury(TREAS) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: Undetermined | Unfunded Mandates: No |
EO 13771 Designation: Other | |
CFR Citation: 26 CFR 1 | |
Legal Authority: 26 U.S.C. 7805 26 U.S.C. 1297 |
Legal Deadline:
None |
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Timetable:
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Additional Information: REG-105474-18 Drafting attorney: Josephine Firehock (202) 317-6938 Reviewing attorney: Peter Merkel (202) 317-6938 Treasury attorney: Brett York (202) 622-1285 CC:INTL | |
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: Josephine H. Firehock Attorney-Advisor Department of the Treasury Internal Revenue Service 1111 Constitution Avenue NW., Washington, DC 20224 Phone:202 317-4932 Fax:855 589-8672 Email: josephine.firehock@irscounsel.treas.gov |