Source: https://www.federalregister.gov/documents/2017/10/26/2017-22830/dividend-equivalents-from-sources-within-the-united-states-correction
Timestamp: 2020-06-04 15:14:03
Document Index: 254052806

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Federal Register :: Dividend Equivalents From Sources Within the United States; Correction
A Rule by the Internal Revenue Service on 10/26/2017
Effective Date: These corrections are effective October 26, 2017.
82 FR 49508
49508-49510 (3 pages)
1545-BM33
2017-22830
IRS-2017-0007
Dividend Equivalents From Sources Within the United States (REG-135122-16)
1545-BN76
https://www.federalregister.gov/d/2017-22830 https://www.federalregister.gov/d/2017-22830
Applicability Date: The corrections to §§ 1.1.871-15, 1.871-15T, 1.1441-1(e)(5)(v)(B)(4), (e)(6), and (f)(5), 1.1441-2, 1.1441-7, and 1.1461-1 are applicable on January 19, 2017.
D. Peter Merkel or Karen Walny at 202-317-6938 (not a toll-free number).
The final and temporary regulations that are the subject of these corrections are §§ 1.871-15, 1.871-15T, 1.1441-1, 1.1441-2, 1.1441-7, and 1.1461-1, promulgated under sections 871(m) and 7805 of the Internal Revenue Code. These regulations affect foreign persons that hold certain financial products providing for payments that are contingent upon or determined by reference to U.S. source dividends, as well withholding agents with respect to dividend equivalents and certain other parties to section 871(m) transactions and their agents.
As published, TD 9815 contains errors that may prove to be misleading and are in need of clarification.
Par. 2. Section 1.871-15 is amended by:
1. Removing paragraph (r)(2).
2. Redesignating paragraphs (r)(3), (4), and (5), as (r)(2), (3), and (4), respectively.
§ 1.871-15(a)(14)(ii)(B) ELI.More ELI. More
§ 1.871-15(l)(1), second sentence described in this paragraph (l) described in this paragraph (l)(1)
§ 1.871-15(q)(1) qualified intermediary agreement qualified intermediary withholding agreement
§ 1.871-15(q)(4) ordinary ordinarily
§ 1.871-15(q)(5), Example (3), paragraph (ii) country that provides withholding country with a treaty that provides withholding
§ 1.871-15(q)(5), Example (3), paragraph (ii) paid by qualified derivatives dealer paid by the qualified derivatives dealer
§ 1.871-15(r)(1) September 18, 2015 January 19, 2017
Par. 4. Section 1.871-15T is amended by redesignating paragraph (r)(5) as (r)(4).
Par. 5. For each section listed in the table, remove the language in the “Remove” column and add in its place the language in the “Add” column as set forth below:
§ 1.871-15T(p)(5) Example 1. Example.
§ 1.871-15T(q) through (r)(4) [Reserved] (q) through (r)(4) [Reserved]. For further guidance, see § 1.871-15(r)(1) through (4) (q) through (r)(3) [Reserved]. For further guidance, see § 1.871-15(q) through (r)(3)
§ 1.871-15T(r)(4) newly redesignated after on January after January
Par. 6. For each section listed in the table, remove the language in the “Remove” column and add in its place the language in the “Add” column as set forth below:
§ 1.1441-1(e)(5)(v)(B)(4)(iv) U.S. income tax U.S. federal income tax
§ 1.1441-1(e)(6)(i)(B) and other withholding provisions and other provisions
§ 1.1441-1(e)(6)(i)(C) underlying securities (including underlying securities as defined in § 1.871- 15(a)(15) (including
§ 1.1441-1(e)(6)(i)(C) received in the equity received in its equity
§ 1.1441-1(e)(6)(i)(D)(3) U.S. tax return U.S. federal tax return
§ 1.1441-1(e)(6)(i)(F) QDD qualified derivatives dealer
§ 1.1441-1(e)(6)(ii)(B) introductory text organized, or operates organized or operates
§ 1.1441-1(e)(6)(ii)(B)(2) pursuant to with respect to
§ 1.1441-1(f)(5) Paragraphs (e)(5)(ii)(D) Paragraphs (e)(5)(ii)(C)
Par. 7. Section 1.1441-2 is amended by removing the last two sentences of paragraph (f)(1) and adding a sentence at the end of the paragraph to read as follows:
(1) * * * Paragraph (e)(7) of this section applies on or after January 19, 2017.
Par. 8. For each section listed in the table, remove the language in the “Remove” column and add in its place the language in the “Add” column as set forth below:
§ 1.1441-2(e)(7)(ii)(A) § 1.871-15(i)(3), § 1.871-15(i)(3)(i),
§ 1.1441-2(e)(7)(iv) type (securities type (for example, securities
§ 1.1441-2(e)(7)(v) the types of section 871(m) transaction the type of section 871(m) transaction
§ 1.1441-2(e)(7)(v) certifying that has notified certifying that it has notified
Par. 9. Section 1.1441-7 is amended by removing the second sentence of paragraph (a)(4).
Par. 10. For each section listed in the table, remove the language in the “Remove” column and add in its place the language in the “Add” column as set forth below:
§ 1.1441-7(a)(3), Example 9 not required withhold not required to withhold
§ 1.1441-7(a)(4) Example 8 and Example 7, Example 8, and
§ 1.1441-7(a)(4) apply to payments made on or after January 19 apply beginning January 19
Start Printed Page 49510 Start Amendment Part
Par. 11. Section 1.1461-1 is amended by revising paragraph (c)(2)(iii) to read as follows:
(iii) Applicability date. Paragraph (c)(2) of this section applies beginning January 19, 2017.
[FR Doc. 2017-22830 Filed 10-25-17; 8:45 am]