81 FR 65541 - Method of Accounting for Gains and Losses on Shares in Money Market Funds; Broker Returns With Respect to Sales of Shares in Money Market Funds; Correction

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 81, Issue 185 (September 23, 2016)

Page Range65541-65542
FR Document2016-22950

This document contains a correction to final regulations (TD 9774) that were published in the Federal Register on July 8, 2016 (81 FR 44508). The final regulations provide a simplified method of accounting for gains and losses on shares in money market funds (MMFs). The final regulations also provide guidance regarding information reporting requirements for shares in MMFs.

Federal Register, Volume 81 Issue 185 (Friday, September 23, 2016)
[Federal Register Volume 81, Number 185 (Friday, September 23, 2016)]
[Rules and Regulations]
[Pages 65541-65542]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-22950]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9774]
RIN 1545-BM04


Method of Accounting for Gains and Losses on Shares in Money 
Market Funds; Broker Returns With Respect to Sales of Shares in Money 
Market Funds; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Final regulations; correction.

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SUMMARY: This document contains a correction to final regulations (TD 
9774) that were published in the Federal Register on July 8, 2016 (81 
FR 44508). The final regulations provide a simplified method of 
accounting for gains and losses on shares in money market funds (MMFs). 
The final regulations also provide guidance regarding information 
reporting requirements for shares in MMFs.

DATES: This correction is effective on September 23, 2016 and 
applicable on July 8, 2016.

FOR FURTHER INFORMATION CONTACT: Grace Cho at (202) 317-6895 (not a 
toll free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations (TD 9774) that are the subject of this 
correction are under sections 446, and 6045 of the Internal Revenue 
Code.

Need for Correction

    As published, the final regulations (TD 9774) contains an error 
that may prove to be misleading and is in need of clarification.

[[Page 65542]]

Correction of Publication

    Accordingly, the final regulations (TD 9774), that are the subject 
of FR Doc. 2016-16149, is corrected as follows:
    1. On page 44512, in the preamble, the first column, under the 
heading ``7. Accounting Method Changes'', the ninth line of the second 
full paragraph, the language ``Proc. 2016-39 (2016-30 IRB), which'' is 
corrected to read ``Proc. 2016-39 (2016-30 IRB 164), which''.

Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2016-22950 Filed 9-22-16; 8:45 am]
BILLING CODE 4830-01-P


Current View
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionRules and Regulations
ActionFinal regulations; correction.
DatesThis correction is effective on September 23, 2016 and applicable on July 8, 2016.
ContactGrace Cho at (202) 317-6895 (not a toll free number).
FR Citation81 FR 65541 
RIN Number1545-BM04

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