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TREAS/IRS RIN: 1545-BP91 Publication ID: Spring 2020 
Title: ●Exception to Passive Income Characterization of Certain Insurance Companies With Respect to Passive Foreign Investment Companies 
Abstract:

This regulation will provide guidance regarding when a foreign insurance company's income is excluded from the definition of passive income under the passive foreign investment company rules.  In addition, non-insurance specific PFIC issues may be added.

 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
EO 13771 Designation: Other 
CFR Citation: 26 CFR 1   
Legal Authority: 26 U.S.C. 7805    26 U.S.C. 1297(b)(2)(B)    26 U.S.C. 1298(b)    26 U.S.C. 1297(f)(3)(B)(ii)    26 U.S.C. 1297(f)(4)(A)(iii)    26 U.S.C. 1297(f)(2)(B)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  12/00/2020 
Additional Information: REG-111950-20 Drafting attorney: Josephine Firehock (202) 317-6938 and Christina Daniels (202) 317-4969) Reviewer attorney: Je Balk -Senior (202) 317-6936 and Kristine Crabtree (202) 317-4998 Treasury attorney: Angela Walitt (202) 622-1787 and Erika Nijenhuis (202) 622-0843 CC:INTL
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
International Impacts: This regulatory action will be likely to have international trade and investment effects, or otherwise be of international interest.
RIN Data Printed in the FR: No 
Agency Contact:
Josephine H. Firehock
Attorney-Advisor
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 317-4932
Fax:855 589-8672
Email: josephine.firehock@irscounsel.treas.gov