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IRS SAYS FINAL REGS WILL ALLOW RICs TO MARK TO MARKET PFIC STOCK FOR LIMITED PERIOD.

NOV. 4, 1992

Notice 92-53; 1992-2 C.B. 384

DATED NOV. 4, 1992
DOCUMENT ATTRIBUTES
  • Institutional Authors
    Internal Revenue Service
  • Cross-Reference

    INTL-941-86, INTL-656-87, INTL-704-87

    For a summary of the proposed regulations, see Tax Notes, Apr. 6,

    1992, p. 30; for the full text, see 92 TNT 70-9 or H&D, Apr. 1, 1992,

    p. 35.
  • Code Sections
  • Subject Area/Tax Topics
  • Index Terms
    PFICs, tax deferral interest
    RICs
  • Jurisdictions
  • Language
    English
  • Tax Analysts Document Number
    Doc 1992-10153
  • Tax Analysts Electronic Citation
    1992 TNT 224-20
Citations: Notice 92-53; 1992-2 C.B. 384
MARK-TO-MARKET ELECTION BY REGULATED INVESTMENT COMPANIES THAT ARE SHAREHOLDERS OF PASSIVE FOREIGN INVESTMENT COMPANIES

Notice 92-53

This notice provides guidance for regulated investment companies (RICs) that are direct or indirect shareholders of passive foreign investment companies (PFICs).

Proposed regulations published on April 1, 1992, provide an election under which certain RICS may elect to mark to market their stock in certain PFICs. Final regulations will provide that eligible RICs may apply proposed regulation section 1.1291-8 for their taxable years ending after March 31, 1992, and before April 1, 1993.

For further information, call Gayle E. Novig at (202) 622-3880 (not a toll free number).

DOCUMENT ATTRIBUTES
  • Institutional Authors
    Internal Revenue Service
  • Cross-Reference

    INTL-941-86, INTL-656-87, INTL-704-87

    For a summary of the proposed regulations, see Tax Notes, Apr. 6,

    1992, p. 30; for the full text, see 92 TNT 70-9 or H&D, Apr. 1, 1992,

    p. 35.
  • Code Sections
  • Subject Area/Tax Topics
  • Index Terms
    PFICs, tax deferral interest
    RICs
  • Jurisdictions
  • Language
    English
  • Tax Analysts Document Number
    Doc 1992-10153
  • Tax Analysts Electronic Citation
    1992 TNT 224-20
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