We are excited to share the latest episode of KPMG’s In the Vault podcast: OB3 Banking Insights: Auto Loan Reporting — Transitional Relief to Proposed Regulations.
While the industry recently benefited from the transitional "breather" provided in October, the Treasury and IRS rang in the New Year by dropping Proposed Regulations on December 31. These new rules inform operational priorities for bank tax operations.
In this episode, Liz L’Hommedieu (Principal, B&CM Tax) and Kelli Wooten (Principal, IRW) dive into the technicalities of Section 6050AA, including:
- The Rules: Moving beyond Notice 2025-57 into the new requirements from the proposed regulations.
- The Data Gap: Why capturing VINs, makes, and models is an operational challenge for 2026.
- Threshold Clarity: Breaking down the $600 of interest per-loan rule and what it means for reporting complexity.
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In the Vault with KPMG: A Banking industry podcast series
Tune in to our discussions with KPMG advisors on many of the key issues and challenges facing the Banking industry now and into the future.
OB3 Banking Insights: Information Reporting Changes for Financial Institutions
Listen as our leaders discuss how the One Big Beautiful Bill Act impacts banking info reporting.