Proposed Rule2021-14875

Semiannual Agenda

Primary source

Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.

Published
July 30, 2021

Issuing agencies

Treasury Department

Abstract

This notice is given pursuant to the requirements of the Regulatory Flexibility Act and Executive Order 12866 (``Regulatory Planning and Review''), which require the publication by the Department of a semiannual agenda of regulations.

Full Text

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[Federal Register Volume 86, Number 144 (Friday, July 30, 2021)]
[Unknown Section]
[Pages 41268-41272]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-14875]



[[Page 41267]]

Vol. 86

Friday,

No. 144

July 30, 2021

Part XIII





Department of the Treasury





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Semiannual Regulatory Agenda

Federal Register / Vol. 86, No. 144 / Friday, July 30, 2021 / UA: Reg 
Flex Agenda

[[Page 41268]]


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DEPARTMENT OF THE TREASURY

31 CFR Subtitles A and B


Semiannual Agenda

AGENCY: Department of the Treasury.

ACTION: Semiannual regulatory agenda.

-----------------------------------------------------------------------

SUMMARY: This notice is given pursuant to the requirements of the 
Regulatory Flexibility Act and Executive Order 12866 (``Regulatory 
Planning and Review''), which require the publication by the Department 
of a semiannual agenda of regulations.

FOR FURTHER INFORMATION CONTACT: The Agency contact identified in the 
item relating to that regulation.

SUPPLEMENTARY INFORMATION: The semiannual regulatory agenda includes 
regulations that the Department has issued or expects to issue and 
rules currently in effect that are under departmental or bureau review.
    Beginning with the fall 2007 edition, the internet has been the 
primary medium for disseminating the Unified Agenda. The complete 
Unified Agenda will be available online at <a href="http://www.reginfo.gov">www.reginfo.gov</a> and 
<a href="http://www.regulations.gov">www.regulations.gov</a>, in a format that offers users an enhanced ability 
to obtain information from the Agenda database. Because publication in 
the Federal Register is mandated for the regulatory flexibility agenda 
required by the Regulatory Flexibility Act (5 U.S.C. 602), Treasury's 
printed agenda entries include only:
    (1) Rules that are in the regulatory flexibility agenda, in 
accordance with the Regulatory Flexibility Act, because they are likely 
to have a significant economic impact on a substantial number of small 
entities; and
    (2) Rules that have been identified for periodic review under 
section 610 of the Regulatory Flexibility Act.
    Printing of these entries is limited to fields that contain 
information required by the Regulatory Flexibility Act's Agenda 
requirements. Additional information on these entries is available in 
the Unified Agenda available on the internet.
    The semiannual agenda of the Department of the Treasury conforms to 
the Unified Agenda format developed by the Regulatory Information 
Service Center (RISC).

Michael Briskin,
Deputy Assistant General Counsel for General Law and Regulation.

           Financial Crimes Enforcement Network--Prerule Stage
------------------------------------------------------------------------
                                                           Regulation
       Sequence No.                    Title             Identifier No.
------------------------------------------------------------------------
186.......................  Section 6403. Corporate            1506-AB49
                             Transparency Act.
187.......................  Section 6110. Bank Secrecy         1506-AB50
                             Act Application to
                             Dealers in Antiquities
                             and Assessment of Bank
                             Secrecy Act Application
                             to Dealers in Arts.
------------------------------------------------------------------------


        Financial Crimes Enforcement Network--Proposed Rule Stage
------------------------------------------------------------------------
                                                           Regulation
       Sequence No.                    Title             Identifier No.
------------------------------------------------------------------------
188.......................  Threshold for the                  1506-AB48
                             Requirement to Collect,
                             Retain, and Transmit
                             Information on Funds
                             Transfers and
                             Transmittals of Funds
                             That Begin or End Outside
                             the United States.
189.......................  Section 6101.                      1506-AB52
                             Establishment of National
                             Exam and Supervisions
                             Priorities.
------------------------------------------------------------------------


         Financial Crimes Enforcement Network--Final Rule Stage
------------------------------------------------------------------------
                                                           Regulation
       Sequence No.                    Title             Identifier No.
------------------------------------------------------------------------
190.......................  Clarification of the               1506-AB41
                             Requirement to Collect,
                             Retain, and Transmit
                             Information on
                             Transactions Involving
                             Convertible Virtual
                             Currencies and Digital
                             Assets With Legal Tender
                             Status.
191.......................  Requirements for Certain           1506-AB47
                             Transactions Involving
                             Convertible Virtual
                             Currency or Digital
                             Assets.
------------------------------------------------------------------------


         Financial Crimes Enforcement Network--Long-Term Actions
------------------------------------------------------------------------
                                                           Regulation
       Sequence No.                    Title             Identifier No.
------------------------------------------------------------------------
192.......................  Amendments of the                  1506-AB36
                             Definition of Broker or
                             Dealer in Securities
                             (Crowd Funding).
------------------------------------------------------------------------


               Customs Revenue Function--Final Rule Stage
------------------------------------------------------------------------
                                                           Regulation
       Sequence No.                    Title             Identifier No.
------------------------------------------------------------------------
193.......................  Enforcement of Copyrights          1515-AE26
                             and the Digital
                             Millennium Copyright Act.
------------------------------------------------------------------------


              Internal Revenue Service--Proposed Rule Stage
------------------------------------------------------------------------
                                                           Regulation
       Sequence No.                    Title             Identifier No.
------------------------------------------------------------------------
194.......................  MEPs and the Unified Plan          1545-BO97
                             Rule.

[[Page 41269]]

 
195.......................  Requirements Related to            1545-BQ01
                             Surprise Billing, Part 1.
196.......................  Requirements Related to            1545-BQ02
                             Surprise Billing, Part 2.
------------------------------------------------------------------------


               Internal Revenue Service--Final Rule Stage
------------------------------------------------------------------------
                                                           Regulation
       Sequence No.                    Title             Identifier No.
------------------------------------------------------------------------
197.......................  Guidance on the                    1545-BO91
                             Elimination of Interbank
                             Offered Rates.
198.......................  Section 42 Low-Income              1545-BO92
                             Housing Credit Average
                             Income Test Regulations.
199.......................  Requirements Related to            1545-BQ04
                             Surprise Billing, Part 1
                             (Temporary Regulation).
200.......................  Requirements Related to            1545-BQ05
                             Surprise Billing, Part 2
                             (Temporary Regulation).
------------------------------------------------------------------------

DEPARTMENT OF THE TREASURY (TREAS)

Financial Crimes Enforcement Network (FINCEN)

Prerule Stage

186. <bullet> Section 6403. Corporate Transparency Act

    Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1959; 31 U.S.C. 
5311 to 5314; 31 U.S.C. 5316 to 5336
    Abstract: FinCEN issued an Advance Notice of Proposed Rulemaking 
relating to Section 6403 of the Corporate Transparency Act (CTA). This 
section amends the Bank Secrecy Act by adding new Section 5336 to title 
31 of the United States Code. New Section 5336 requires FinCEN to issue 
rules requiring reporting companies to submit certain information about 
the individuals who are beneficial owners of those entities and the 
individuals who formed or registered those entities, and establishing a 
mechanism for issuing FinCEN identifiers to entities and individuals 
that request them; requires FinCEN to maintain the information in a 
confidential, secure non-public database; and authorizes FinCEN to 
disclose the information to certain government agencies and financial 
institutions for purposes specified in the legislation and subject to 
protocols to protect the confidentiality of the information. The first 
of these requirements the reporting regulation for legal entities must 
be published in final form by January 1, 2022. The ANPRM solicited 
comments on a wide range of questions having to do with the possible 
shape of the reporting regulation, as well as questions that concern 
the interaction of the requirements of this regulation and the shape 
and functionality of the database that will be populated with the 
information reported under section 5336.
    Timetable:

------------------------------------------------------------------------
               Action                    Date            FR Cite
------------------------------------------------------------------------
ANPRM...............................   04/05/21  86 FR 17557
ANPRM Comment Period End............   05/05/21  .......................
------------------------------------------------------------------------

    Regulatory Flexibility Analysis Required: Yes.
    Agency Contact: FinCEN Resource Center, Department of the Treasury, 
Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183, 
Phone: 800 767-2825, Email: <a href="/cdn-cgi/l/email-protection#4422362704222d2a27212a6a232b32"><span class="__cf_email__" data-cfemail="711703123117181f12141f5f161e07">[email&#160;protected]</span></a>.
    RIN: 1506-AB49

187. <bullet> Section 6110. Bank Secrecy Act Application to Dealers in 
Antiquities and Assessment of Bank Secrecy Act Application to Dealers 
in Arts

    Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1959; 31 U.S.C. 
5311 to 5314; 31 U.S.C. 5316 to 5336
    Abstract: FinCEN intends to issue an Advance Notice of Proposed 
Rulemaking in order to implement Section 6110 of the Anti-Money 
Laundering Act of 2020 (the AML Act). This section amends the Bank 
Secrecy Act (31 U.S.C. 5312(a)(2)) to include as a financial 
institution a person engaged in the trade of antiquities, including an 
advisor, consultant, or any other person who engages as a business in 
the solicitation or the sale of antiquities, subject to regulations 
prescribed by the Secretary of the Treasury. The section further 
requires the Secretary of the Treasury to issue proposed rules to 
implement the amendment within 360 days of enactment of the AML Act.
    Timetable:

------------------------------------------------------------------------
               Action                    Date            FR Cite
------------------------------------------------------------------------
ANPRM...............................   07/00/21
------------------------------------------------------------------------

    Regulatory Flexibility Analysis Required: Yes.
    Agency Contact: FinCEN Resource Center, Department of the Treasury, 
Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183, 
Phone: 800 767-2825, Email: <a href="/cdn-cgi/l/email-protection#1771657457717e7974727939707861"><span class="__cf_email__" data-cfemail="284e5a4b684e41464b4d46064f475e">[email&#160;protected]</span></a>.
    RIN: 1506-AB50

DEPARTMENT OF THE TREASURY (TREAS)

Financial Crimes Enforcement Network (FINCEN)

Proposed Rule Stage

188. <bullet> Threshold for the Requirement To Collect, Retain, and 
Transmit Information on Funds Transfers and Transmittals of Funds That 
Begin or End Outside the United States

    Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1959; 31 U.S.C. 
5311 to 5314; 31 U.S.C. 5316 to 5336
    Abstract: In October 2020, the Board of Governors of the Federal 
Reserve System and FinCEN (collectively, the ``Agencies'') issued a 
proposed rule to modify the threshold in the rules implementing the 
Bank Secrecy Act requiring financial institutions to collect and retain 
information on certain funds transfers and transmittals of funds. The 
modification would reduce this threshold from $3,000 for certain funds 
transfers and transmittals of funds. At the same time, FinCEN likewise 
issued a proposal to reduce from $3,000 the threshold in the rule 
requiring financial institutions to transmit to other financial 
institutions in the payment chain information on certain funds 
transfers and transmittals of funds. The public comment period for the 
proposed rulemaking expired on November 27, 2020. The Agencies are 
working to develop a rule in light of the comments received from the 
public.
    Timetable:

[[Page 41270]]



------------------------------------------------------------------------
               Action                    Date            FR Cite
------------------------------------------------------------------------
NPRM Public Comment Period Extended    09/00/21  .......................
 (Related to RIN 1506-AB41).
------------------------------------------------------------------------

    Regulatory Flexibility Analysis Required: Yes.
    Agency Contact: FinCEN Resource Center, Department of the Treasury, 
Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183, 
Phone: 800 767-2825, Email: <a href="/cdn-cgi/l/email-protection#2640544566404f4845434808414950"><span class="__cf_email__" data-cfemail="f1978392b197989f92949fdf969e87">[email&#160;protected]</span></a>.
    RIN: 1506-AB48

189. <bullet> Section 6101. Establishment of National Exam and 
Supervisions Priorities

    Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1959; 31 U.S.C. 
5311 to 5314; 31 U.S.C. 5316 to 5336
    Abstract: FinCEN intends to issue a Notice of Proposed Rulemaking 
to implement Section 6101 of the Anti-Money Laundering Act of 2020 (the 
AML Act). This section requires the Secretary of the Treasury to 
promulgate regulations to carry out the provisions of Section 6101, 
concerning the development of public priorities for anti-money 
laundering (AML) and countering the financing of terrorism (CFT) 
policy, and the supervision and examination of financial institutions 
regarding the incorporation of those priorities, as appropriate, into 
their risk-based AML/CFT programs.
    Timetable:

------------------------------------------------------------------------
               Action                    Date            FR Cite
------------------------------------------------------------------------
NPRM................................   08/00/21
------------------------------------------------------------------------

    Regulatory Flexibility Analysis Required: Yes.
    Agency Contact: FinCEN Resource Center, Department of the Treasury, 
Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183, 
Phone: 800 767-2825, Email: <a href="/cdn-cgi/l/email-protection#016773624167686f62646f2f666e77"><span class="__cf_email__" data-cfemail="0e687c6d4e6867606d6b6020696178">[email&#160;protected]</span></a>.
    RIN: 1506-AB52

DEPARTMENT OF THE TREASURY (TREAS)

Financial Crimes Enforcement Network (FINCEN)

Final Rule Stage

190. Clarification of the Requirement To Collect, Retain, and Transmit 
Information on Transactions Involving Convertible Virtual Currencies 
and Digital Assets With Legal Tender Status

    Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1959; 31 U.S.C. 
5311 to 5314; 31 U.S.C. 5316 to 5336
    Abstract: The Board of Governors of the Federal Reserve System and 
FinCEN (collectively, the ``Agencies'') intend to finalize a proposed 
rule to clarify the meaning of ``money'' as used in the rules 
implementing the Bank Secrecy Act requiring financial institutions to 
collect, retain, and transmit information on certain funds transfers 
and transmittals of funds to ensure that the rules apply to domestic 
and cross-border transactions involving convertible virtual currency, 
which is a medium of exchange (such as cryptocurrency) that either has 
an equivalent value as currency, or acts as a substitute for currency, 
but lacks legal tender status. The Agencies further intend to finalize 
the proposal to clarify that these rules apply to domestic and cross-
border transactions involving digital assets that have legal tender 
status.
    Timetable:

------------------------------------------------------------------------
               Action                    Date            FR Cite
------------------------------------------------------------------------
NPRM................................   10/27/20  85 FR 68005
NPRM Comment Period End.............   11/27/20
Final Action........................   09/00/21
------------------------------------------------------------------------

    Regulatory Flexibility Analysis Required: Yes.
    Agency Contact: FinCEN Resource Center, Department of the Treasury, 
Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183, 
Phone: 800 767-2825, Email: <a href="/cdn-cgi/l/email-protection#6701150427010e0904020949000811"><span class="__cf_email__" data-cfemail="315743527157585f52545f1f565e47">[email&#160;protected]</span></a>.
    RIN: 1506-AB41

191. <bullet> Requirements for Certain Transactions Involving 
Convertible Virtual Currency or Digital Assets

    Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1959; 31 U.S.C. 
5311 to 5314; 31 U.S.C. 5316 to 5336
    Abstract: FinCEN is proposing to amend the regulations implementing 
the Bank Secrecy Act (BSA) to require banks and money service 
businesses (MSBs) to submit reports, keep records, and verify the 
identity of customers in relation to transactions involving convertible 
virtual currency (CVC) or digital assets with legal tender status 
(``legal tender digital assets'' or ``LTDA'') held in unhosted wallets, 
or held in wallets hosted in a jurisdiction identified by FinCEN.
    Timetable:

------------------------------------------------------------------------
               Action                    Date            FR Cite
------------------------------------------------------------------------
Final Action........................   11/00/21
------------------------------------------------------------------------

    Regulatory Flexibility Analysis Required: Yes.
    Agency Contact: FinCEN Resource Center, Department of the Treasury, 
Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183, 
Phone: 800 767-2825, Email: <a href="/cdn-cgi/l/email-protection#fd9b8f9ebd9b94939e9893d39a928b"><span class="__cf_email__" data-cfemail="5731253417313e3934323979303821">[email&#160;protected]</span></a>
    RIN: 1506-AB47

DEPARTMENT OF THE TREASURY (TREAS)

Financial Crimes Enforcement Network (FINCEN)

Long-Term Actions

192. Amendments of the Definition of Broker or Dealer in Securities 
(Crowd Funding)

    Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1959; 31 U.S.C. 
5311 to 5314; 31 U.S.C. 5316 to 5332
    Abstract: FinCEN is finalizing amendments to the regulatory 
definitions of ``broker or dealer in securities'' under the regulations 
implementing the Bank Secrecy Act. The changes are intended to expand 
the current scope of the definitions to include funding portals. In 
addition, these amendments would require funding portals to implement 
policies and procedures reasonably designed to achieve compliance with 
all of the Bank Secrecy Act requirements that are currently applicable 
to brokers or dealers in securities. The rule to require these 
organizations to comply with the Bank Secrecy Act regulations is 
intended to help prevent money laundering, terrorist financing, and 
other financial crimes.
    Note: This is not a new requirement; it replaces RINs 1506-AB24 and 
1506-AB29.
    Timetable:

------------------------------------------------------------------------
               Action                    Date            FR Cite
------------------------------------------------------------------------
NPRM................................   04/04/16  81 FR 19086
NPRM Comment Period End.............   06/03/16
Final Action........................   05/00/22
------------------------------------------------------------------------

    Regulatory Flexibility Analysis Required: Yes.
    Agency Contact: FinCEN Resource Center, Phone: 800 767-2825, Email: 
<a href="/cdn-cgi/l/email-protection#107662735076797e73757e3e777f66"><span class="__cf_email__" data-cfemail="86e0f4e5c6e0efe8e5e3e8a8e1e9f0">[email&#160;protected]</span></a>.
    RIN: 1506-AB36

DEPARTMENT OF THE TREASURY (TREAS)

Customs Revenue Function (CUSTOMS)

Final Rule Stage

193. Enforcement of Copyrights and the Digital Millennium Copyright Act

    Legal Authority: Title III of the Trade Facilitation and Trade 
Enforcement Act

[[Page 41271]]

of 2015 (Pub. L. 114-125); 19 U.S.C. 1595a(c)(2)(G); 19 U.S.C. 1624
    Abstract: This rule amends the U.S. Customs and Border Protection 
(CBP) regulations pertaining to importations of merchandise that 
violate or are suspected of violating the copyright laws in accordance 
with title III of the Trade Facilitation and Trade Enforcement Act of 
2015 (TFTEA) and certain provisions of the Digital Millennium Copyright 
Act (DMCA).
    Timetable:

------------------------------------------------------------------------
               Action                    Date            FR Cite
------------------------------------------------------------------------
NPRM................................   10/16/19  84 FR 55251
NPRM Comment Period End.............   12/16/19
Final Rule..........................   12/00/21
------------------------------------------------------------------------

    Regulatory Flexibility Analysis Required: Yes.
    Agency Contact: Charles Steuart, Chief, Intellectual Property 
Rights Branch, Department of the Treasury, Customs Revenue Function, 
Regulations and Rulings, Office of International Trade, U.S. Customs 
and Border Protection, 90 K Street NE, 10th Floor, Washington, DC 
20229-1177, Phone: 202 325-0093, Fax: 202 325-0120, Email: 
<a href="/cdn-cgi/l/email-protection#f6959e97849a9385d884d885829383978482b6959486d8929e85d8919980"><span class="__cf_email__" data-cfemail="3e5d565f4c525b4d104c104d4a5b4b5f4c4a7e5d5c4e105a564d10595148">[email&#160;protected]</span></a>.
    RIN: 1515-AE26

DEPARTMENT OF THE TREASURY (TREAS)

Internal Revenue Service (IRS)

Proposed Rule Stage

194. MEPs and the Unified Plan Rule

    Legal Authority: 26 U.S.C. 7805; 26 U.S.C. 413
    Abstract: These proposed regulations provide guidance relating to 
the tax qualification of multiple employer plans (MEPs) described in 
section 413(e) of the Internal Revenue Code (Code). The proposed 
regulations would provide an exception, if certain requirements are 
met, to the application of the ``unified plan rule'' for section 413(e) 
MEPs in the event of a failure by one or more participating employers 
to take actions required of them to satisfy the requirements of section 
401(a) or 408 of the Code. The regulations affect participants in MEPs, 
MEP sponsors and administrators, and employers maintaining MEPs.
    Timetable:

------------------------------------------------------------------------
               Action                    Date            FR Cite
------------------------------------------------------------------------
NPRM................................   07/03/19  84 FR 31777
NPRM Comment Period End.............   10/01/19
Second NPRM.........................   09/00/21
------------------------------------------------------------------------

    Regulatory Flexibility Analysis Required: Yes.
    Agency Contact: Jamie Dvoretzky, Attorney, Department of the 
Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, 
Washington, DC 20224, Phone: 202 317-4102, Fax: 855 604-6087, Email: 
<a href="/cdn-cgi/l/email-protection#0d676c606468236123697b627f68797766744d647f7e6e6278637e686123797f686c7e236a627b"><span class="__cf_email__" data-cfemail="d5bfb4b8bcb0fbb9fbb1a3baa7b0a1afbeac95bca7a6b6baa0bba6b0b9fba1a7b0b4a6fbb2baa3">[email&#160;protected]</span></a>.
    RIN: 1545-BO97

195. <bullet> Requirements Related to Surprise Billing, Part 1

    Legal Authority: 26 U.S.C. 7805; Pub. L. 116-260, Division BB, 
Title I and Title II
    Abstract: This notice of proposed rulemaking would implement the 
protections against surprise medical bills under the No Surprises Act, 
by cross-reference to temporary regulations.
    Timetable:

------------------------------------------------------------------------
               Action                    Date            FR Cite
------------------------------------------------------------------------
NPRM................................   07/00/21
------------------------------------------------------------------------

    Regulatory Flexibility Analysis Required: Yes.
    Agency Contact: Kari L. DiCecco, General Attorney (Tax), Department 
of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, 
Room 5712, Washington, DC 20224, Phone: 202 317-5500, Email: 
<a href="/cdn-cgi/l/email-protection#b5ded4c7dc9bd99bd1dcd6d0d6d6daf5dcc7c6d6dac0dbc6d0d99bc1c7d0d4c69bd2dac3"><span class="__cf_email__" data-cfemail="d8b3b9aab1f6b4f6bcb1bbbdbbbbb798b1aaabbbb7adb6abbdb4f6acaabdb9abf6bfb7ae">[email&#160;protected]</span></a>.
    RIN: 1545-BQ01

196. <bullet> Requirements Related to Surprise Billing, Part 2

    Legal Authority: 26 U.S.C. 7805; Pub. L. 116-260, Division BB, 
Title I and Title II
    Abstract: This notice of proposed rulemaking would implement 
additional protections against surprise medical bills under the No 
Surprises Act and certain provisions related to Title II of Division BB 
of the Consolidated Appropriations Act, by cross-reference to temporary 
regulations.
    Timetable:

------------------------------------------------------------------------
               Action                    Date            FR Cite
------------------------------------------------------------------------
NPRM................................   10/00/21
------------------------------------------------------------------------

    Regulatory Flexibility Analysis Required: Yes.
    Agency Contact: Kari L. DiCecco, General Attorney (Tax), Department 
of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, 
Room 5712, Washington, DC 20224, Phone: 202 317-5500, Email: 
<a href="/cdn-cgi/l/email-protection#e982889b80c785c78d808a8c8a8a86a9809b9a8a869c879a8c85c79d9b8c889ac78e869f"><span class="__cf_email__" data-cfemail="355e54475c1b591b515c565056565a755c4746565a405b4650591b41475054461b525a43">[email&#160;protected]</span></a>.
    RIN: 1545-BQ02

DEPARTMENT OF THE TREASURY (TREAS)

Internal Revenue Service (IRS)

Final Rule Stage

197. Guidance on the Elimination of Interbank Offered Rates

    Legal Authority: 26 U.S.C. 1001b and 7805; 26 U.S.C. 7805
    Abstract: The final regulations will provide guidance on the tax 
consequences of the phased elimination of interbank offered rates 
(IBORs) that is underway in the United States and many foreign 
countries. Taxpayers have requested guidance that addresses whether a 
modification to a debt instrument or other financial contract to 
accommodate the elimination of the relevant IBOR will be treated as a 
realization event for federal income tax purposes.
    Timetable:

------------------------------------------------------------------------
               Action                    Date            FR Cite
------------------------------------------------------------------------
NPRM................................   10/09/19  84 FR 54068
NPRM Comment Period End.............   11/25/19
Final Action........................   06/00/21
------------------------------------------------------------------------

    Regulatory Flexibility Analysis Required: Yes.
    Agency Contact: Caitlin Holzem, Attorney, Department of the 
Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 
3547, Washington, DC 20224, Phone: 202 317-7036, Fax: 855 574-9023, 
Email: <a href="/cdn-cgi/l/email-protection#3556545c41595c5b1b5c1b5d5a594f5058755c4746565a405b4650591b41475054461b525a43"><span class="__cf_email__" data-cfemail="492a28203d252027672067212625332c2409203b3a2a263c273a2c25673d3b2c283a672e263f">[email&#160;protected]</span></a>.
    RIN: 1545-BO91

198. Section 42 Low-Income Housing Credit Average Income Test 
Regulations

    Legal Authority: 26 U.S.C. 7805; 26 U.S.C. 42
    Abstract: The Consolidated Appropriations Act of 2018 added a new 
applicable minimum set-aside test under section 42(g) of the Internal 
Revenue Code known as the average income test. This proposed regulation 
will implement requirements related to the average income test.
    Timetable:

------------------------------------------------------------------------
               Action                    Date            FR Cite
------------------------------------------------------------------------
NPRM................................   10/30/20  85 FR 68816
NPRM Comment Period End.............   12/29/20

[[Page 41272]]

 
Proposed rule; notice of hearing....   02/03/21  86 FR 7986
Final Action........................   07/00/21
------------------------------------------------------------------------

    Regulatory Flexibility Analysis Required: Yes.
    Agency Contact: Dillon J. Taylor, Attorney, Department of the 
Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room 
5107, Washington, DC 20224, Phone: 202 317-4137, Fax: 855 591-7867, 
Email: <a href="/cdn-cgi/l/email-protection#593d30353536377733772d382035362b19302b2a3a362c372a3c35772d2b3c382a773e362f"><span class="__cf_email__" data-cfemail="97f3fefbfbf8f9b9fdb9e3f6eefbf8e5d7fee5e4f4f8e2f9e4f2fbb9e3e5f2f6e4b9f0f8e1">[email&#160;protected]</span></a>.
    RIN: 1545-BO92

199. <bullet> Requirements Related to Surprise Billing, Part 1 
(Temporary Regulation)

    Legal Authority: 26 U.S.C. 7805; Pub. L. 116-260, Division BB, 
Title I and Title II
    Abstract: This temporary regulation would implement the protections 
against surprise medical bills under the No Surprises Act.
    Timetable:

------------------------------------------------------------------------
               Action                    Date            FR Cite
------------------------------------------------------------------------
Temporary Regulation................   07/00/21
------------------------------------------------------------------------

    Regulatory Flexibility Analysis Required: Yes.
    Agency Contact: Kari L. DiCecco, General Attorney (Tax), Department 
of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, 
Room 5712, Washington, DC 20224, Phone: 202 317-5500, Email: 
<a href="/cdn-cgi/l/email-protection#016a6073682f6d2f6568626462626e41687372626e746f72646d2f75736460722f666e77"><span class="__cf_email__" data-cfemail="cda6acbfa4e3a1e3a9a4aea8aeaea28da4bfbeaea2b8a3bea8a1e3b9bfa8acbee3aaa2bb">[email&#160;protected]</span></a>.
    RIN: 1545-BQ04

200. <bullet> Requirements Related to Surprise Billing, Part 2 
(Temporary Regulation)

    Legal Authority: 26 U.S.C. 7805; Pub. L. 116-260, Division BB, 
Title I and Title II
    Abstract: This temporary regulation would implement additional 
protections against surprise medical bills under the No Surprises Act 
and certain provisions related to Title II of Division BB of the 
Consolidated Appropriations Act.
    Timetable:

------------------------------------------------------------------------
               Action                    Date            FR Cite
------------------------------------------------------------------------
Temporary Regulations...............   10/00/21  .......................
------------------------------------------------------------------------

    Regulatory Flexibility Analysis Required: Yes.
    Agency Contact: Kari L. DiCecco, General Attorney (Tax), Department 
of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, 
Room 5712, Washington, DC 20224, Phone: 202 317-5500, Email: 
<a href="/cdn-cgi/l/email-protection#dbb0baa9b2f5b7f5bfb2b8beb8b8b49bb2a9a8b8b4aeb5a8beb7f5afa9bebaa8f5bcb4ad"><span class="__cf_email__" data-cfemail="1c777d6e7532703278757f797f7f735c756e6f7f7369726f797032686e797d6f327b736a">[email&#160;protected]</span></a>.
    RIN: 1545-BQ05

[FR Doc. 2021-14875 Filed 7-29-21; 8:45 am]
BILLING CODE 4810-01-P


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Indexed from Federal Register on July 30, 2021.

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