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04 October 2016

OIRA reclassifies Section 385 final regulations as "economically significant" and having "international impacts"

The White House Office of Information and Regulatory Affairs (OIRA) has changed its description of the Section 385 final regulations so they are now classified as "economically significant" and having "international impacts." In its original description on September 30, OIRA indicated the regulations were not economically significant and had no international impacts.

The current OIRA description and listing can be found below. See also, "Status: Pending Review" link at the bottom, and the following dashboard link.

This change may reflect a broader application of the final regulations than originally thought.

OIRA has up to 90 days to review the regulations, but could move more quickly, and could ask Treasury to make changes to the regulations during its review.

We will keep you posted of any further developments.

Pending EO 12866 Regulatory Review

RIN: 1545-BN40  View EO 12866 Meetings

Received Date: 09/30/2016

Title: Treatment of Certain Interests in Corporations

Agency/Subagency: TREAS / IRS

Stage: Final Rule

Legal Deadline: None

Economically Significant: Yes

International Impacts: Yes

Affordable Care Act [PPACA, P.L. 111-148 & 111-152]: No

 

Dodd-Frank Act [Dodd-Frank Wall Street Reform and Consumer Protection Act, P.L. 111-203]: No

Office of Information and Regulatory Affairs (OIRA)

Executive Order Submissions Under Review

September 30, 2016

AGENCY: TREAS-IRS

RIN: 1545-BN40

Status: Pending Review

TITLE: Treatment of Certain Interests in Corporations

STAGE: Final Rule

 

** RECEIVED DATE: 09/30/2016

 

Document ID: 2016-1694

 

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