Federal Register / Vol. 77, No. 73 / Monday, April 16, 2012 / Rules and Regulations 22477 

St Mary’s, AK, St Mary’s, RNAV (GPS) 

Z RWY 17, Orig, CANCELLED 

St Mary’s, AK, St Mary’s, RNAV (GPS) 

Z RWY 35, Orig, CANCELLED 

Valdez, AK, Valdez Pioneer Field, 

JMAAL TWO Graphic DP 

Headland, AL, Headland Muni, RNAV 

(GPS) RWY 9, Amdt 1 

Headland, AL, Headland Muni, RNAV 

(GPS) RWY 27, Amdt 1 

Jasper, AL, Walker County-Bevill Field, 

ILS OR LOC/DME RWY 27, Amdt 1 

Jasper, AL, Walker County-Bevill Field, 

RNAV (GPS) RWY 27, Orig 

Jasper, AL, Walker County-Bevill Field, 

Takeoff Minimums and Obstacle DP, 

Amdt 1 

Jasper, AL, Walker County-Bevill Field, 

VOR/DME–A, Amdt 3 

Napa, CA, Napa County, NAPAA TWO 

Graphic DP 

San Luis Obispo, CA, San Luis County 

Rgnl, ILS RWY 11, Amdt 2 

San Luis Obispo, CA, San Luis County 

Rgnl, LOC RWY 11, Orig 

San Luis Obispo, CA, San Luis County 

Rgnl, RNAV (GPS) RWY 11, Amdt 1 

Baxley, GA, Baxley Muni, NDB RWY 8, 

Amdt 2 

Baxley, GA, Baxley Muni, RNAV (GPS) 

RWY 8, Amdt 1 

Baxley, GA, Baxley Muni, RNAV (GPS) 

RWY 26, Amdt 1 

Baxley, GA, Baxley Muni, Takeoff 

Minimums and Obstacle DP, Amdt 1 

Opelousas, LA, St Landry Parish-Ahart 

Field, NDB RWY 18, Amdt 3 

Opelousas, LA, St Landry Parish-Ahart 

Field, RNAV (GPS) RWY 18, Amdt 1 

Opelousas, LA, St Landry Parish-Ahart 

Field, RNAV (GPS) RWY 36, Amdt 1 

Opelousas, LA, St Landry Parish-Ahart 

Field, Takeoff Minimums and 

Obstacle DP, Amdt 1 

Beaufort, NC, Michael J. Smith Field, 

NDB RWY 14, Amdt 1 

Beaufort, NC, Michael J. Smith Field, 

NDB RWY 21, Amdt 1 

Beaufort, NC, Michael J. Smith Field, 

RNAV (GPS) RWY 3, Amdt 1 

Beaufort, NC, Michael J. Smith Field, 

RNAV (GPS) RWY 8, Amdt 1 

Beaufort, NC, Michael J. Smith Field, 

RNAV (GPS) RWY 14, Amdt 1 

Beaufort, NC, Michael J. Smith Field, 

RNAV (GPS) RWY 32, Amdt 1 

Superior, NE., Superior Muni, RNAV 

(GPS) RWY 14, Orig 

Superior, NE., Superior Muni, RNAV 

(GPS) RWY 32, Orig 

Superior, NE., Superior Muni, Takeoff 

Minimums and Obstacle DP, Amdt 1 

Superior, NE., Superior Muni, VOR/ 

DME–A, Amdt 2 

Los Alamos, NM, Los Alamos, RNAV 

(GPS) Y RWY 27, Amdt 1 

Los Alamos, NM, Los Alamos, RNAV 

(GPS) Z RWY 27, Orig 

Los Alamos, NM, Los Alamos, Takeoff 

Minimums and Obstacle DP, Amdt 1 

Wauseon, OH, Fulton County, NDB OR 

GPS RWY 27, Amdt 7A, CANCELLED 

Wauseon, OH, Fulton County, RNAV 

(GPS) RWY 9, Orig 

Wauseon, OH, Fulton County, RNAV 

(GPS) RWY 27, Orig 

Providence, RI, Theodore Francis Green 

State, VOR RWY 5, Amdt 14 

Victoria, TX, Victoria Rgnl, ILS OR 

LOC/DME RWY 13L, Amdt 12 

Victoria, TX, Victoria Rgnl, RNAV (GPS) 

RWY 13L, Amdt 1 

Victoria, TX, Victoria Rgnl, RNAV (GPS) 

RWY 31R, Amdt 1 

Victoria, TX, Victoria Rgnl, Takeoff 

Minimums and Obstacle DP, Amdt 1 

Victoria, TX, Victoria Rgnl, VOR RWY 

13L, Amdt 17 

Victoria, TX, Victoria Rgnl, VOR/DME 

RWY 31R, Amdt 7 

Seattle, WA, Boeing Field/King County 

Intl, Takeoff Minimums and Obstacle 

DP, Amdt 7 

Toledo, WA, Ed Carlson Memorial 

Field-South Lewis County, ATASY 

TWO Graphic DP 

Tomahawk, WI, Tomahawk Rgnl, RNAV 

(GPS) RWY 9, Amdt 2 

Tomahawk, WI, Tomahawk Rgnl, RNAV 

(GPS) RWY 27, Amdt 2 

Tomahawk, WI, Tomahawk Rgnl, 

Takeoff Minimums and Obstacle DP, 

Amdt 1 

Tomahawk, WI, Tomahawk Rgnl, VOR/ 

DME–A, Amdt 1, CANCELLED 

RESCINDED: On March 16, 2012 (77 FR 

15576), the FAA Published an 

Amendment in Docket No. 30831, Amdt 

No. 3468 to Part 97 of the Federal 

Aviation Regulations Under section 

97.33. The following entries, effective 5 

April, 2012, Are Hereby Rescinded in 

Their Entirety 

Orlando, FL, Executive, ILS OR LOC/ 

DME RWY 25, Orig. 

RESCINDED: On March 28, 2012 (77 FR 

18681), the FAA Published an 

Amendment in Docket No. 30833, Amdt 

No. 3470 to Part 97 of the Federal 

Aviation Regulations Under section 

97.33. The following entries, effective 3 

May, 2012, Are Hereby Rescinded in 

Their Entirety 

Pocatello, ID, Pocatello Rgnl, VOR RWY 

3, Amdt 17. 

RESCINDED: On March 28, 2012 (77 FR 

18681), the FAA Published an 

Amendment in Docket No. 30833, Amdt 

No. 3470 to Part 97 of the Federal 

Aviation Regulations Under section 

97.33. The following entries, effective 

31 May, 2012, Are Hereby Rescinded in 

Their Entirety 

Lake Havasu City, AZ, Lake Havasu 

City, Takeoff Minimums and Obstacle 

DP, Amdt 2 

Lake Havasu City, AZ, Lake Havasu 

City, VOR/DME–A, Amdt 1. 

[FR Doc. 2012–8964 Filed 4–13–12; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 97 

[Docket No. 30836; Amdt. No. 3473] 

Standard Instrument Approach 

Procedures, and Takeoff Minimums 

and Obstacle Departure Procedures; 

Miscellaneous Amendments 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Final rule. 

SUMMARY: This rule establishes, amends, 

suspends, or revokes Standard 

Instrument Approach Procedures 

(SIAPs) and associated Takeoff 

Minimums and Obstacle Departure 

Procedures for operations at certain 

airports. These regulatory actions are 

needed because of the adoption of new 

or revised criteria, or because of changes 

occurring in the National Airspace 

System, such as the commissioning of 

new navigational facilities, adding new 

obstacles, or changing air traffic 

requirements. These changes are 

designed to provide safe and efficient 

use of the navigable airspace and to 

promote safe flight operations under 

instrument flight rules at the affected 

airports. 

DATES: This rule is effective April 16, 

2012. The compliance date for each 

SIAP, associated Takeoff Minimums, 

and ODP is specified in the amendatory 

provisions. 

The incorporation by reference of 

certain publications listed in the 

regulations is approved by the Director 

of the Federal Register as of April 16, 

2012. 

ADDRESSES: Availability of matter 

incorporated by reference in the 

amendment is as follows: 

For Examination— 

1. FAA Rules Docket, FAA 

Headquarters Building, 800 

Independence Avenue SW., 

Washington, DC 20591; 

2. The FAA Regional Office of the 

region in which the affected airport is 

located; 

3. The National Flight Procedures 

Office, 6500 South MacArthur Blvd., 

Oklahoma City, OK 73169 or 

4. The National Archives and Records 

Administration (NARA). For 

information on the availability of this 


emcdonald on DSK29S0YB1PROD with RULES
22478 Federal Register / Vol. 77, No. 73 / Monday, April 16, 2012 / Rules and Regulations 

material at NARA, call 202–741–6030, 

or go to: http://www.archives.gov/ 

federal_register/ 

code_of_federal_regulations/ 

ibr_locations.html. 

Availability—All SIAPs are available 

online free of charge. Visit nfdc.faa.gov 

to register. Additionally, individual 

SIAP and Takeoff Minimums and ODP 

copies may be obtained from: 

1.FAA Public Inquiry Center (APA– 

200), FAA Headquarters Building, 800 

Independence Avenue SW., 

Washington, DC 20591; or 

2.The FAA Regional Office of the 

region in which the affected airport is 

located. 

FOR FURTHER INFORMATION CONTACT: 

Richard A. Dunham III, Flight Procedure 

Standards Branch (AFS–420) Flight 

Technologies and Programs Division, 

Flight Standards Service, Federal 

Aviation Administration, Mike 

Monroney Aeronautical Center, 6500 

South MacArthur Blvd., Oklahoma City, 

OK 73169 (Mail Address: P.O. Box 

25082 Oklahoma City, OK 73125) 

telephone: (405) 954–4164. 

SUPPLEMENTARY INFORMATION: This rule 

amends Title 14, Code of Federal 

Regulations, Part 97 (14 CFR part 97) by 

amending the referenced SIAPs. The 

complete regulatory description of each 

SIAP is listed on the appropriate FAA 

Form 8260, as modified by the National 

Flight Data Center (FDC)/Permanent 

Notice to Airmen (P–NOTAM), and is 

incorporated by reference in the 

amendment under 5 U.S.C. 552(a), 1 

CFR part 51, and § 97.20 of Title 14 of 

the Code of Federal Regulations. 

The large number of SIAPs, their 

complex nature, and the need for a 

special format make their verbatim 

publication in the Federal Register 

expensive and impractical. Further, 

airmen do not use the regulatory text of 

the SIAPs, but refer to their graphic 

depiction on charts printed by 

publishers of aeronautical materials. 

Thus, the advantages of incorporation 

by reference are realized and 

publication of the complete description 

of each SIAP contained in FAA form 

documents is unnecessary. This 

amendment provides the affected CFR 

sections and specifies the types of SIAP 

and the corresponding effective dates. 

This amendment also identifies the 

airport and its location, the procedure 

and the amendment number. 

The Rule 

This amendment to 14 CFR part 97 is 

effective upon publication of each 

separate SIAP as amended in the 

transmittal. For safety and timeliness of 

change considerations, this amendment 

incorporates only specific changes 

contained for each SIAP as modified by 

FDC/P–NOTAMs. 

The SIAPs, as modified by FDC P– 

NOTAM, and contained in this 

amendment are based on the criteria 

contained in the U.S. Standard for 

Terminal Instrument Procedures 

(TERPS). In developing these changes to 

SIAPs, the TERPS criteria were applied 

only to specific conditions existing at 

the affected airports. All SIAP 

amendments in this rule have been 

previously issued by the FAA in a FDC 

NOTAM as an emergency action of 

immediate flight safety relating directly 

to published aeronautical charts. The 

circumstances which created the need 

for all these SIAP amendments requires 

making them effective in less than 30 

days. 

Because of the close and immediate 

relationship between these SIAPs and 

safety in air commerce, I find that notice 

and public procedure before adopting 

these SIAPs are impracticable and 

contrary to the public interest and, 

where applicable, that good cause exists 

for making these SIAPs effective in less 

than 30 days. 

Conclusion 

The FAA has determined that this 

regulation only involves an established 

body of technical regulations for which 

frequent and routine amendments are 

necessary to keep them operationally 

current. It, therefore— (1) Is not a 

‘‘significant regulatory action’’ under 

Executive Order 12866; (2) is not a 

‘‘significant rule’’ under DOT regulatory 

Policies and Procedures (44 FR 11034; 

February 26, 1979); and (3) does not 

warrant preparation of a regulatory 

evaluation as the anticipated impact is 

so minimal. For the same reason, the 

FAA certifies that this amendment will 

not have a significant economic impact 

on a substantial number of small entities 

under the criteria of the Regulatory 

Flexibility Act. 

List of Subjects in 14 CFR Part 97 

Air Traffic Control, Airports, 

Incorporation by reference, and 

Navigation (Air). 

Issued in Washington, DC, on March 30, 

2012. 

John McGraw, 

Deputy Director, Flight Standards Service. 

Adoption of the Amendment 

Accordingly, pursuant to the 

authority delegated to me, Title 14, 

Code of Federal regulations, Part 97, 14 

CFR part 97, is amended by amending 

Standard Instrument Approach 

Procedures, effective at 0901 UTC on 

the dates specified, as follows: 

PART 97—STANDARD INSTRUMENT 

APPROACH PROCEDURES 

■ 1. The authority citation for part 97 

continues to read as follows: 

Authority: 49 U.S.C. 106(g), 40103, 40106, 

40113, 40114, 40120, 44502, 44514, 44701, 

44719, 44721–44722. 

§§ 97.23, 97.25, 97.27, 97.29, 97.31, 97.33, 

97.35 [Amended] 

■ 2. Part 97 is amended to read as 

follows: 

By amending: § 97.23 VOR, VOR/ 

DME, VOR or TACAN, and VOR/DME 

or TACAN; § 97.25 LOC, LOC/DME, 

LDA, LDA/DME, SDF, SDF/DME; 

§ 97.27 NDB, NDB/DME; § 97.29 ILS, 

ILS/DME, MLS, MLS/DME, MLS/RNAV; 

§ 97.31 RADAR SIAPs; § 97.33 RNAV 

SIAPs; and § 97.35 COPTER SIAPs, 

Identified as follows: 

* * * Effective Upon Publication 

AIRAC date State City Airport FDC No. FDC Date Subject 

3–May–12 .......... IA Sioux City ......................... Sioux Gateway/Col. Bud 

Day Field.

2/8304 3/20/12 This NOTAM, published in 

TL 12–09, is hereby rescinded in its entirety. 

3–May–12 .......... CA San Francisco .................. San Francisco Intl ............ 2/1235 3/20/12 RNAV (RNP) Y RWY 

28R, Orig-C 

3–May–12 .......... FL Miami ................................ Miami Intl .......................... 2/2210 3/19/12 RNAV (GPS) Z RWY 26L, 

Amdt 1 

3–May–12 .......... MS Jackson ............................ Jackson-Evers Intl ............ 2/2509 3/19/12 RNAV (GPS) RWY 16R, 

Amdt 1 

3–May–12 .......... MS Jackson ............................ Jackson-Evers Intl ............ 2/2511 3/19/12 RNAV (GPS) RWY 34R, 

Amdt 1 

3–May–12 .......... MS Jackson ............................ Jackson-Evers Intl ............ 2/2513 3/19/12 ILS OR LOC RWY 34L, 

Amdt 5A 


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Federal Register / Vol. 77, No. 73 / Monday, April 16, 2012 / Rules and Regulations 22479 

AIRAC date State City Airport FDC No. FDC Date Subject 

3–May–12 .......... MS Jackson ............................ Jackson-Evers Intl ............ 2/2518 3/19/12 RNAV (GPS) RWY 34L, 

Amdt 2 

3–May–12 .......... CA Palo Alto ........................... Palo Alto Arpt of Santa 

Clara Co..

2/3358 3/19/12 Takeoff Minimums and 

Obstacle DP, Orig 

3–May–12 .......... SC Allendale .......................... Allendale County .............. 2/3399 3/20/12 GPS RWY 17, Orig-B 

3–May–12 .......... SC Allendale .......................... Allendale County .............. 2/3400 3/20/12 GPS RWY 35, Amdt 1A 

3–May–12 .......... SC Allendale .......................... Allendale County .............. 2/3402 3/20/12 VOR OR GPS A, Amdt 5A 

3–May–12 .......... GA Atlanta .............................. Fulton County AirportBrown Field.2/3814 3/19/12 NDB RWY 8, Amdt 3A 

3–May–12 .......... AL Huntsville .......................... Huntsville Intl—Carl T 

Jones Field.

2/4557 3/19/12 ILS OR LOC RWY 18R, 

ILS RWY 18R (CAT II), 

Amdt 24B 

3–May–12 .......... GA Atlanta .............................. Atlanta/Hartsfield-Jackson 

Atlanta Intl.

2/4558 3/19/12 ILS OR LOC RWY 9R, 

ILS RWY 9R (CAT II), 

ILS RWY 9R (CAT III), 

Amdt 17C 

3–May–12 .......... GA Atlanta .............................. Atlanta/Hartsfield-Jackson 

Atlanta Intl.

2/4559 3/19/12 ILS PRM RWY 9R (Sim. 

Close Parallel), ILS 

PRM RWY 9R (CAT II) 

(Sim. Close Parallel), 

ILS PRM RWY 9R 

(CAT III) (Sim. Close 

Parallel), Orig-B 

3–May–12 .......... IL Marion .............................. Williamson County Rgnl ... 2/4638 3/19/12 RNAV (GPS) RWY 20, 

Orig-A 

3–May–12 .......... IL Marion .............................. Williamson County Rgnl ... 2/4639 3/19/12 NDB RWY 20, Amdt 10A 

3–May–12 .......... IL Marion .............................. Williamson County Rgnl ... 2/4640 3/19/12 VOR RWY 20, Amdt 17A 

3–May–12 .......... IL Marion .............................. Williamson County Rgnl ... 2/4641 3/19/12 VOR RWY 2, Amdt 13A 

3–May–12 .......... IL Marion .............................. Williamson County Rgnl ... 2/4642 3/19/12 RNAV (GPS) RWY 2, 

Orig-A 

3–May–12 .......... NC Burlington ......................... Burlington-Alamance Rgnl 2/5508 3/9/12 ILS OR LOC/NDB RWY 6, 

Amdt 1 

3–May–12 .......... WY Cheyenne ......................... Cheyenne Rgnl/Jerry 

Olson Field.

2/5840 3/20/12 RADAR–1, Amdt 1B 

3–May–12 .......... AZ Phoenix ............................ Phoenix Sky Harbor Intl ... 2/5854 3/22/12 ILS OR LOC RWY 8, 

Orig-C 

3–May–12 .......... AZ Phoenix ............................ Phoenix Sky Harbor Intl ... 2/5857 3/22/12 ILS OR LOC RWY 26, 

Orig-D 

3–May–12 .......... DC Washington ...................... Washington Dulles Intl ..... 2/6475 3/19/12 ILS OR LOC RWY 1R, 

Amdt 24A 

3–May–12 .......... IA Sioux City ......................... Sioux Gateway/Col. Bud 

Day Field.

2/6534 3/20/12 NDB RWY 13, Amdt 15C 

3–May–12 .......... FL Miami ................................ Miami Intl .......................... 2/6842 3/19/12 Takeoff Minimums and 

Obstacle DP, Amdt 17 

3–May–12 .......... DC Washington ...................... Washington Dulles Intl ..... 2/7130 3/19/12 ILS RWY 1L (CAT II), 

Amdt 1A 

3–May–12 .......... DC Washington ...................... Washington Dulles Intl ..... 2/7131 3/19/12 ILS OR LOC/DME RWY 

1L, Amdt 1A 

3–May–12 .......... DC Washington ...................... Washington Dulles Intl ..... 2/7136 3/19/12 ILS RWY 1L (CAT III), 

Amdt 1A 

3–May–12 .......... TN Waverly ............................ Humphreys County .......... 2/8155 3/20/12 NDB RWY 21, Amdt 3B 

3–May–12 .......... GA Athens .............................. Athens/Ben Epps ............. 2/9279 3/19/12 RNAV (GPS) RWY 2, Orig 

3–May–12 .......... GA Athens .............................. Athens/Ben Epps ............. 2/9283 3/19/12 ILS OR LOC/DME RWY 

27, Amdt 1 

3–May–12 .......... GA Athens .............................. Athens/Ben Epps ............. 2/9284 3/19/12 NDB RWY 27, Amdt 1 

3–May–12 .......... GA Athens .............................. Athens/Ben Epps ............. 2/9285 3/19/12 RNAV (GPS) RWY 20, 

Orig 

3–May–12 .......... GA Athens .............................. Athens/Ben Epps ............. 2/9286 3/19/12 RNAV (GPS) RWY 27, 

Orig 

3–May–12 .......... GA Athens .............................. Athens/Ben Epps ............. 2/9287 3/19/12 VOR RWY 2, Amdt 11A 

3–May–12 .......... GA Athens .............................. Athens/Ben Epps ............. 2/9290 3/19/12 RNAV (GPS) RWY 9, Orig 

3–May–12 .......... GA Athens .............................. Athens/Ben Epps ............. 2/9291 3/19/12 VOR RWY 27, Amdt 12 


emcdonald on DSK29S0YB1PROD with RULES
22480 Federal Register / Vol. 77, No. 73 / Monday, April 16, 2012 / Rules and Regulations 

[FR Doc. 2012–8967 Filed 4–13–12; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 1 

[TD 9562] 

RIN 1545–BH77 

Conduit Financing Arrangements; 

Correction 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Correcting amendment. 

SUMMARY: This document contains a 

correction to final regulations (TD 9562) 

that were published in the Federal 

Register on Friday, December 9, 2011 

(76 FR 76895) providing guidance on 

conduit financing arrangements. The 

final regulations apply to multiple-party 

financing arrangements that are effected 

through disregarded entities, and are 

necessary in order to determine which 

of those arrangements should be 

recharacterized as a conduit financing 

arrangement. 

DATES: This correction is effective on 

April 16, 2012 and is applicable on 

December 9, 2011. 

FOR FURTHER INFORMATION CONTACT: 

Quyen P. Huynh, (202) 622–3880 (not a 

toll-free number). 

SUPPLEMENTARY INFORMATION: 

Background 

The final regulation (TD 9562) that is 

the subject of this correction is under 

section 881 of the Internal Revenue 

Code. 

Need for Correction 

As published, TD 9562 contains errors 

that may prove to be misleading and is 

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 

■ Paragraph 1. The authority citation 

for part 1 continues to read in part as 

follows: 

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

§ 1.881–3 [Amended] 

■ Par. 2. For each entry in the table in 

the ‘‘Section’’ column, remove the 

language in the ‘‘Remove’’ column and 

add in its place the language in the 

‘‘Add’’ column as set forth below: 

Section Remove Add 

Last sentence of paragraph (a)(2)(i)(A) ......................................................................... Examples 1, 2, 3 ................ Examples 1, 2, 3 and 4. 

Last sentence of paragraph (a)(2)(i)(B) ......................................................................... Examples 4 and 5 .............. Examples 5 and 6. 

Last sentence of paragraph (a)(3)(ii)(E)(2)(ii) ............................................................... Example 6 .......................... Example 7. 

Last sentence of paragraph (a)(4)(ii)(B) ........................................................................ Examples 7 and 8 .............. Examples 8 and 9. 

Last sentence of paragraph (b)(1) ................................................................................. Examples 11 and 12 .......... Examples 12 and 13. 

Last sentence of paragraph (b)(2)(i) ............................................................................. Examples 13, 14 and 15 .... Examples 14, 15 and 16. 

Last sentence of paragraph (b)(2)(iii) ............................................................................ Example 16 ........................ Example 17. 

Last sentence of paragraph (b)(2)(iv) ............................................................................ Example 17 ........................ Example 18. 

Last sentence of paragraph (b)(3)(i) ............................................................................. Examples 21, 22 and 23 .... Examples 22, 23 and 24. 

Last sentence of paragraph (d)(1)(i) ............................................................................. Example 24 ........................ Example 25. 

Next to last sentence of paragraph (d)(1)(ii)(A) ............................................................ Example 25 ........................ Example 26. 

Paragraph (e), Example 21, paragraph (i) .................................................................... Example 19 ........................ Example 20. 

Paragraph (e), Example 21, paragraph (ii) ................................................................... Example 20 ........................ Example 21. 

Paragraph (e), Example 23, paragraph (i) .................................................................... Example 21 ........................ Example 22. 

Paragraph (e), Example 24, paragraph (i) .................................................................... Example 21 ........................ Example 22. 

Treena V. Garrett, 

Federal Register Liaison, Publications and 

Regulations Branch, Legal Processing 

Division, Associate Chief Counsel, (Procedure 

and Administration). 

[FR Doc. 2012–8993 Filed 4–13–12; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 1 

[TD 9583] 

RIN 1545–BI92 

Guidance Under Section 267(f); 

Deferral of Loss on Transactions 

Between Members of a Controlled 

Group 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Final regulations. 

SUMMARY: This document contains final 

regulations concerning the deferral of 

losses on the sale or exchange of 

property between members of a 

controlled group and provides guidance 

as to the time for taking into account 

those losses. These regulations affect 

corporations that are members of a 

controlled group. 

DATES: Effective Date: These regulations 

are effective on April 16, 2012. 

FOR FURTHER INFORMATION CONTACT: 

Amie Colwell Breslow (202) 622–7530 

(not a toll-free number). 

SUPPLEMENTARY INFORMATION: 

Background 

Section 267(a)(1) provides that no 

deduction shall be allowed for any loss 

on the sale or exchange of property 

between certain related persons. Section 

267(f)(2) contains an exception for a loss 

on the sale or exchange of property 

between members of a controlled group. 

For this purpose, ‘‘controlled group’’ 

has the meaning given to such term in 

section 1563(a) except that ‘‘more than 

50 percent’’ is substituted for ‘‘at least 

80 percent’’ each place it appears. In the 

case of a sale or exchange of loss 

property between members of a 

controlled group, the loss is deferred 

rather than disallowed. Under section 

267(f)(2)(B), the loss is deferred until the 

property is transferred outside of the 

controlled group and there would be 

recognition of loss under consolidated 

return principles or until such other 

time as may be prescribed in 

regulations. 

The regulations under section 267(f) 

provide that the timing principles for 

intercompany sales or exchanges 

between members of a consolidated 

group (see generally § 1.1502–13(c)(2)) 

apply to sales or exchanges of property 


emcdonald on DSK29S0YB1PROD with RULES