28854 Federal Register / Vol. 72, No. 99 / Wednesday, May 23, 2007 / Rules and Regulations 

information at the time the request is 

granted unless the foreign law 

enforcement agency requests that the 

submitter not be notified. 

(5) For purposes of this section: 

(i) ‘‘Federal antitrust laws’’ and 

‘‘foreign antitrust laws’’ are to be 

interpreted as defined in paragraphs (5) 

and (7), respectively, of section 12 of the 

International Antitrust Enforcement 

Assistance Act of 1994 (15 U.S.C. 6211); 

and 

(ii) ‘‘Foreign law enforcement agency’’

is defined as: 

(A) Any agency or judicial authority 

of a foreign government, including a 

foreign state, a political subdivision of 

a foreign state, or a multinational 

organization constituted by and 

comprised of foreign states, that is 

vested with law enforcement or 

investigative authority in civil, criminal, 

or administrative matters and 

(B) Any multinational organization, to 

the extent that it is acting on behalf of 

an entity described in paragraph 

(j)(5)(i)(A) of this section. 

By direction of the Commission. 

Donald S. Clark, 

Secretary. 

[FR Doc. E7–9966 Filed 5–22–07; 8:45 am] 

BILLING CODE 6750–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 1 

[TD 9319] 

RIN 1545–BD52 

Limitations on Benefits and 

Contributions Under Qualified Plans; 

Correction 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Correcting amendments. 

SUMMARY: This document contains 

corrections to final regulations (TD 

9319) that were published in the 

Federal Register on Thursday, April 5, 

2007 (72 FR 16878) regarding the 

limitations of section 415, including 

updates to the regulations for numerous 

statutory changes since comprehensive 

final regulations were last published 

under section 415. 

DATES: These correcting amendments 

are effective May 23, 2007. 

FOR FURTHER INFORMATION CONTACT: 

Vernon S. Carter at (202) 622–6060 or 

Linda S. F. Marshall at (202) 622–6090 

(not toll-free numbers). 

SUPPLEMENTARY INFORMATION: 

Background 

The final regulations that are the 

subject of this document are under 

sections 401(a), 401(a)(4), 401(a)(9), 

401(k), 402, 414(s), 415, 416, 457, and 

924 of the Internal Revenue Code. 

Need for Correction 

As published, final regulations (TD 

9319) 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 

■ Paragraph 1. The authority citation 

for part 1 continues to read as follows: 

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

■ Par. 2. Section 1.415(b)–1 is amended 

by revising paragraph (c)(5)(i)(A), and 

the second sentence of paragraph (c)(6) 

Example 6, paragraph (iv). The revisions 

read as follows: 

§ 1.415(b)–1 Limitations for defined benefit 

plans. 

* * * * * 

(c) * * * 

(5) * * * 

(i) * * * 

(A) The benefit is paid in a form to 

which section 417(e)(3) does not apply. 

* * * * * 

(6) * * * 

Example 6. * * * 

(iv) * * * With respect to the single-sum 

distribution, the annual amount of the 

actuarially equivalent straight life annuity 

commencing at the same age determined 

using the plan’s actuarial factors is equal to 

$45,000. * * * 

* * * * * 

■ Par. 3. Section 1.415(d)–1 is amended 

by revising its heading to read as 

follows: 

§ 1.415(d)–1 Cost-of-living adjustments. 

* * * * * 

■ Par. 4. Section 1.415(f)–1 is amended 

by revising the last sentence of 

paragraph (d)(1) to read as follows: 

§ 1.415(f)–1 Aggregating plans. 

* * * * * 

(d) * * * 

(1) * * * Instead, the transferee plan 

takes into account the transferred 

benefits that are actually provided 

under the transferee plan (see 

§ 1.415(b)–1(b)(3)(i)(C)) and, pursuant to 

paragraph (c)(1) of this section, any 

nontransferred benefits provided under 

plans maintained by the predecessor 

employer with respect to a participant 

whose benefits have been transferred to 

the transferee plan. 

* * * * * 

■ Par. 5. Section 1.457–5(d), Example 2, 

paragraphs (ii) and (iii) are amended by 

revising the third sentence of (ii) and all 

of (iii) to read as follows: 

§ 1.457–5 Individual limitation for 

combined annual deferrals under multiple 

eligible plans. 

* * * * * 

(d) * * * 

Example 2. * * * 

(ii) * * * Alternatively, Participant E 

could instead elect to defer the following 

combination of amounts: An aggregate total 

of $15,000 to Plans X, Y, and Z, if no 

contribution is made to Plan W; an aggregate 

total of $20,000 to any of the four plans, 

assuming at least $5,000 is contributed to 

Plan W; or $22,000 to Plan W and none to 

any of the other three plans. 

(iii) * * * If the underutilized amount 

under Plans W, X, and Y for year 2006 were 

in each case zero (because E had always 

contributed the maximum amount or E was 

a new participant) or an amount not in excess 

of $5,000, the maximum exclusion under this 

section would be $20,000 for Participant E 

for year 2006 ($15,000 plus the $5,000 age 50 

catch-up amount), which Participant E could 

contribute to any of the plans assuming at 

least $5,000 is contributed to Plan W. 

LaNita Van Dyke, 

Chief, Publications and Regulations Branch, 

Legal Processing Division, Associate Chief 

Counsel (Procedure and Administration). 

[FR Doc. E7–9877 Filed 5–22–07; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 1 

[TD 9319] 

RIN 1545–BD52 

Limitations on Benefits and 

Contributions Under Qualified Plans; 

Correction 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Correction to final regulations. 

SUMMARY: This document contains a 

correction to final regulations (TD 9319) 

that were published in the Federal 

Register on Thursday, April 5, 2007 (72 

FR 16878) regarding the limitations of 

section 415, including updates to the 

regulations for numerous statutory 

changes since comprehensive final 


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