[Federal Register Volume 81, Number 249 (Wednesday, December 28, 2016)]
[Rules and Regulations]
[Pages 95470-95471]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-31364]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9792]
RIN 1545-BJ48


United States Property Held by Controlled Foreign Corporations in 
Transactions Involving Partnerships; Rents and Royalties Derived in the 
Active Conduct of a Trade or Business; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Final regulations; correction.

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SUMMARY: This document contains corrections to the final regulations 
(TD 9792) that were published in the Federal Register on Thursday, 
November 3, 2016 (81 FR 76497). The final regulations provide rules 
regarding the treatment as United States property of property held by a 
controlled foreign corporation (CFC) in connection with certain 
transactions involving partnerships.

DATES: This correction is effective December 28, 2016 and is applicable 
on or after November 3, 2016.

FOR FURTHER INFORMATION CONTACT: Rose E. Jenkins, at (202) 317-6934 
(not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations (TD 9792) that are the subject of this 
correction are

[[Page 95471]]

under sections 954 and 956 of the Internal Revenue Code.

Need for Correction

    As published, the final regulations (TD 9792) contain errors that 
may prove to be misleading and are in need of clarification.

Correction of Publication

    Accordingly, the final regulations (TD 9792), that are the subject 
of FR Doc. 2016-26425, are corrected as follows:
    1. On page 76499, third column, in the preamble, the eighth line 
from the bottom of the last paragraph, the language ``generally is 
consistent with Sec.  1.956-'' is corrected to read ``generally is 
consistent with existing Sec.  1.956-''.
    2. On page 76500, first column, in the preamble, the fourth line 
from the top of the page, the language ``that is not included in the 
final or'' is corrected to read ``that is not included in the existing 
final or''.
    3. On page 76500, first column, in the preamble, the seventh line 
in the first full paragraph, the language ``Sec.  1.956-2(a)(3) nor 
proposed Sec.  1.956-'' is corrected to read ``existing Sec.  1.956-
2(a)(3) nor proposed Sec.  1.956-''.
    4. On page 76500, first column, in the preamble, the eighth line in 
the first full paragraph, the language ``4(b) include the limitation. A 
comment'' is corrected to read ``4(b) includes the limitation. A 
comment''.
    5. On page 76500, third column, in the preamble, the eleventh line 
from the top of the first full paragraph, the language is corrected to 
read ``book-up''.
    6. On page 76501, first column, in the preamble, the eighth line of 
the first full paragraph, the language is corrected to read ``Sec.  
1.956-4(b)(2)(ii)''.

Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 2016-31364 Filed 12-27-16; 8:45 am]
 BILLING CODE 4830-01-P