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TREAS/IRS RIN: 1545-BH47 Publication ID: Spring 2020 
Title: Exchange of Property for an Annuity 
Abstract:

This regulation proposes application of the installment sale rules to the exchange of property for a private annuity contract. This project would address the inappropriate avoidance or deferral of gain on the exchange of highly appreciated property for the issuance of an annuity contract. A taxpayer transfers highly appreciated property to a related party in return for an annuity. The related party sells the property to an unrelated party and does not pay tax on the sale.

 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
EO 13771 Designation: Other 
CFR Citation: Not Yet Determined     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 26 U.S.C. 7805    26 U.S.C. 453   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  12/00/2020 
Additional Information: REG-140454-07 (NPRM) Drafter attorney: Edward C. Schwartz (202) 317-4740 Reviewer attorney: Amy J. Pfalzgraf (202) 317-4716 Treasury attorney: N/A CC:ITA
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Edward C. Schwartz
General Attorney (Tax)
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW., Room 4236,
Washington, DC 20224
Phone:202 317-4740
Fax:855 576-2339
Email: edward.c.schwartz@irscounsel.treas.gov