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TREAS/IRS RIN: 1545-BN47 Publication ID: Fall 2022 
Title: Guidance Under Section 355 Concerning Device and Active Trade or Business 

Final regulations under section 355 of the Internal Revenue Code that would clarify the application of the device prohibition and the active business requirement of section 355. Specifically, the final regulations would provide additional guidance regarding the device prohibition of section 355(a)(1)(B) and provide a minimum threshold for the assets of one or more active trades or businesses, within the meaning of section 355(a)(1)(C) and (b), of the distributing corporation and each controlled corporation (in each case, within the meaning of section 355(a)(1)(A)). The final regulations would affect corporations that distribute the stock of controlled corporations, their shareholders, and their security holders.

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   
Legal Authority: 26 U.S.C. 7805   
Legal Deadline:  None
Action Date FR Cite
NPRM  07/15/2016  81 FR 46004   
NPRM Comment Period End  10/13/2016 
Second NPRM  06/00/2023 
Additional Information: REG-134016-15 (Final) Drafter attorney: Aglaia Ovtchinnikova (202) 317-6975 Reviewer attorney: Kelly Madigan (202) 317-6847 Treasury attorney: Colin Campbell (202) 622-2297 CC:CORP
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:
Aglaia Ovtchinnikova
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW,
Washington, DC 20224
Phone:202 317-6975