81 FR 24484 - PATH Act Changes to Section 1445; Correction

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 81, Issue 80 (April 26, 2016)

This document contains corrections to final regulations (TD 9721) that were published in the Federal Register on Friday, February 19, 2016 (81 FR 8398). The final regulations are regarding the taxation of, and withholding on, foreign persons upon certain dispositions of, and distributions with respect to, United States real property interests (USRPIs).

[Federal Register Volume 81, Number 80 (Tuesday, April 26, 2016)]
[Rules and Regulations]
[Page 24484]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-09666]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9751]
RIN 1545-BN22


PATH Act Changes to Section 1445; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

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SUMMARY: This document contains corrections to final regulations (TD 
9721) that were published in the Federal Register on Friday, February 
19, 2016 (81 FR 8398). The final regulations are regarding the taxation 
of, and withholding on, foreign persons upon certain dispositions of, 
and distributions with respect to, United States real property 
interests (USRPIs).

DATES: This correction is effective April 26, 2016 and is applicable on 
or after February 19, 2016.

FOR FURTHER INFORMATION CONTACT: Milton M. Cahn or David A. Levine of 
the Office of Associate Chief Counsel (International) at (202) 317-6937 
(not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations (TD 9751) that are the subject of this 
correction are under section 897 and1445 of the Internal Revenue Code.

Need for Correction

    As published, the final regulations (TD 9751) contain errors that 
may prove to be misleading and are in need of clarification.

List of Subjects in 26 CFR Part 1

    Income taxes, reporting and recordkeeping requirements.

Correction of Publication

    Accordingly, 26 CFR part 1 is corrected by making the following 
correcting amendments:

PART 1--INCOME TAXES

0
Paragraph 1. The authority citation for part 1 continues to read in 
part as follows:

    Authority:  26 U.S.C. 7805 * * *


0
Par. 3. Section 1.1445-5 is amended by revising the last sentence of 
paragraph (b)(3)(ii)(A) to read as follows:


Sec.  1.1445-5  Special rules concerning distributions and other 
transactions by corporations, partnerships, trusts, and estates.

* * * * *
    (b) * * *
    (3) * * *
    (ii) * * *
    (A) * * * In general, a foreign person is a nonresident alien 
individual, foreign corporation, foreign partnership, foreign trust, or 
foreign estate, but not a qualified foreign pension fund (as defined in 
section 897(l)) or an entity all of the interests of which are held by 
a qualified foreign pension fund.
* * * * *

Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 2016-09666 Filed 4-25-16; 8:45 am]
 BILLING CODE 4830-01-P