Rules and Regulations. Correcting amendment
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/register/2015/08/06/2015-19364A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
BILLING CODE 3510-DS-P DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [TD 9723] RIN 1545-BM73 Suspension of Benefits Under the Multiemployer Pension Reform Act of 2014; Correction AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Correcting amendment. SUMMARY: This document contains corrections to temporary regulations (TD 9723) that were published in the **Federal Register** on Friday, June 19, 2015 (80 FR 35207). The temporary regulations relate to multiemployer pension plans that are projected to have insufficient funds, at some point in the future, to pay the full benefits to which individuals will be entitled under the plans (referred to as plans in “critical and declining status”).
DATES: This correction is effective August 6, 2015 and applicable June 19, 2015. FOR FURTHER INFORMATION CONTACT: Department of the Treasury MPRA guidance information line at
(202)622-1559 (not a toll-free number). SUPPLEMENTARY INFORMATION: Background The temporary regulations (TD 9723) that are the subject of this correction are under section 432(e)(9) of the Internal Revenue Code. Need for Correction As published, the temporary regulations (TD 9723) contain an error 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 amended 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 * * * **Par. 2.** Section 1.432(e)(9)-1T is amended by revising the first sentence of paragraph (g)(1)(v) to read as follows: § 1.432(e)(9)-1T Benefit suspensions for multiemployer plans in critical and declining status (temporary).
(g)* * *
(1)* * *
(v)* * * An application for suspension that is not submitted in combination with an application to PBGC for a plan partition under section 4233 of ERISA generally will not be accepted unless the proposed effective date of the suspension is at least nine months from the date on which the application is submitted. * * * Martin V. Franks, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. 2015-19364 Filed 8-5-15; 8:45 am]
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- 26 CFR 1
- T.D. 9723
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