REG-142299-01 and REG-209135-88 (Final) Certain Transfers of Property to Regulated Investment Companies (RICs) and Real Estate Investment Trusts (REITs)
ICR 200803-1545-005 · OMB 1545-1672 · Historical Active
⚠️ Notice: This information collection may be outdated. More recent filings for OMB 1545-1672 can be found here:
REG-142299-01 and REG-209135-88 (Final) Certain Transfers of Property to Regulated Investment Companies (RICs) and Real Estate Investment Trusts (REITs)
Extension without change of a currently approved collection
The regulation applies with respect to the net built-in gain of Corporation property that becomes property of a Regulated Investment Company (RIC) or Real Estate Investment Trust (REIT) by the qualification of a Corporation as a RIC or REIT or by the transfer of property of a Corporation to a RIC or REIT in certain tax-free transactions. Depending on the date of the transfer of property or qualification as a RIC or REIT, the regulation provides that either (1) the Corporation will recognize gain as if it had sold the property at fair market value, unless the RIC or REIT elects section 1374 treatment of (2) the RIC or REIT will
US Code:
26 USC 1374
Name of Law: Tax imposed on certain built-in gains
US Code:
26 USC 337
Name of Law: Nonrecognition for property distributed to parent in complete liquidation of subsidiary
US Code:
26 USC 6103
Name of Law: Confidentiality and disclosure of returns and return information
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
REG-142299-01 & REG-209135-88_Sup Stmnt.doc
Reg-209135-88_Final.pdf
REG-142299-01 and REG-209135-88 (Final) Certain Transfers of Property to Regulated Investment Companies (RICs) and Real Estate Investment Trusts (REITs)