[Federal Register Volume 81, Number 150 (Thursday, August 4, 2016)]
[Proposed Rules]
[Page 51413]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-18355]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-123854-12]
RIN 1545-BL25


Application of Section 409A to Nonqualified Deferred Compensation 
Plans; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to a partial withdrawal of notice of proposed 
rulemaking; notice of proposed rulemaking.

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SUMMARY: This document contains corrections to a partial withdrawal of 
notice of proposed rulemaking; notice of proposed rulemaking (REG-
123854-12) that was published in the Federal Register on Wednesday, 
June 22, 2016 (81 FR 40569). The proposed regulations are to clarify or 
modify certain specific provisions of the final regulations under 
section 409A (TD 9321, 72 FR 19234).

DATES: Written or electronic comments and requests for a public hearing 
for the notice of proposed rulemaking published at 81 FR 40569, June 
22, 2016 are still being accepted and must be received by September 20, 
2016.

FOR FURTHER INFORMATION CONTACT: Concerning the proposed regulations 
under sections 409A, Gregory Burns at (202) 927-9639, concerning 
submissions or comments and/or requests for a public hearing, Regina 
Johnson 202-317-6901 (not toll-free numbers).

SUPPLEMENTARY INFORMATION:

Background

    The partial withdrawal of notice of proposed rulemaking; notice of 
proposed rulemaking (REG-123854-12) that is the subject of this 
correction is under 409A of the Internal Revenue Code.

Need for Correction

    As published, the partial withdrawal of notice of proposed 
rulemaking; notice of proposed rulemaking (REG-123854-12) contains 
errors that may prove to be misleading and are in need of 
clarification.

Correction of Publication

    Accordingly, the partial withdrawal of notice of proposed 
rulemaking; notice of proposed rulemaking (REG-123854-12) that was the 
subject of FR Doc. 2016-14331 is corrected as follows:


Sec.  1.409A-3   [Corrected]

0
1. On page 40582, first column, seventeenth line of paragraph 
(i)(5)(iv), the language ``described in Sec.  1.409A-(1)(b)(ii) held'' 
is corrected to read ``described in Sec.  1.409A-1(b)(5)(ii) held''.
0
2. On page 40582, second column, in paragraph (i)(5)(iv) twenty-first 
line from the top of the page, the language ``Sec.  1.409A-
(1)(b)(5)(i)(A) or (B) or a statutory stock'' is corrected to read 
``Sec.  1.409A-1(b)(5)(i)(A) or (B) or a statutory stock''.
0
3. On page 40582, second column, in paragraph (i)(5)(iv) twenty-third 
line from the top of the page, the language ``Sec.  1.409A-
(1)(b)(5)(ii) also will not cause the stock'' is corrected to read 
``Sec.  1.409A-1(b)(5)(ii) also will not cause the stock''.


 Sec.  1.409A-4   [Corrected]

0
4. On page 40584, first column, in the third and fourth line of 
paragraph (a)(1)(ii)(B), the language ``substantial risk of 
forfeiture--(1) Risk of forfeiture disregarded.'' is corrected to read 
``substantial risk of forfeiture.''.
0
5. On page 40584, first and second column of paragraphs 
``(a)(1)(ii)(B)(i), (ii), and (iii)'' are renumbered as 
``(a)(1)(ii)(B)(1), (2), and (3)'' respectively.

Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 2016-18355 Filed 8-3-16; 8:45 am]
 BILLING CODE 4830-01-P