Treasury Department Proposed Rule

2019-25955: Guidance on Passive Foreign Investment Companies; Hearing Cancellation

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Summary

This document cancels a public hearing on proposed regulations under sections 1291, 1297, and 1298 of the Internal Revenue Code ("Code") regarding the determination of ownership in a passive foreign investment company within the meaning of section 1297(a) ("PFIC") and the treatment of certain income received or accrued by a foreign corporation and assets held by a foreign corporation for purposes of section 1297.

The agency’s own summary, as published.

What this changes

Amends 1 part of the Code of Federal Regulations — the standing rules this notice rewrites.

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