Proposed regulations: Section 367(d) rules for certain repatriations of intangible property
Proposed regulations would, in certain cases, terminate the continued application of section 367(d)
Proposed regulations
The U.S. Treasury Department and IRS today released for publication in the Federal Register proposed regulations (REG-124064-19) that would, in certain cases, terminate the continued application of section 367(d) arising from a previous transfer of intangible property (IP) to a foreign corporation when the IP is repatriated to certain U.S. persons.
The proposed regulations [PDF 273 KB] (14 pages as published in the Federal Register on May 3, 2023) would also make certain modifications to the regulations under section 904(d)(1)(B) relating to the application of section 367(d) in determining the separate foreign tax credit limitation with respect to foreign branch income.
The proposed regulations generally are proposed to apply to subsequent dispositions of IP occurring on or after the date of publication of the final regulations.
Comments on the proposed regulations and requests for a public hearing must be received by July 3, 2023.
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