us-irs-announcements-irb-2011-26-pdf•Internal Revenue Bulletin 2011-26 (PDF rendition): IRS Announcements
Internal Revenue Bulletin 2011-26 (PDF rendition): IRS Announcements
us-irs-announcements-irb-2011-26-pdfInternal Revenue Bulletin 2011-26 (PDF rendition): IRS AnnouncementsGuidance
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Bulletin No. 201 1-26 June 27, 2011 HIGHLIGHTS OF THIS ISSUE These synopses are intended only as aids to the reader in identifying the subject matter covered. They may not be relied upon as authoritative interpretations. INCOME TAX Rev. Rul. 2011–12, page 917. Interest rates; underpayments and overpayments.The rates for interest determined under section 6621 of the Code for the calendar quarter beginning July 1, 2011, will be 4 per- cent for overpayments (3 percent in the case of a corporation), 4 percent for underpayments, and 6 percent for large corpo- rate underpayments. The rate of interest paid on the portion of a corporate overpayment exceeding $10,000 will be 1.5 per- cent. EMPLOYEE PLANS Notice 2011–49, page 927. Weighted average interest rate update; corporate bond indices; 30-year Treasury securities; segment rates. This notice contains updates for the corporate bond weighted average interest rate for plan years beginning in June 2011; the 24-month average segment rates; the funding transitional segment rates applicable for June 2011; and the minimum present value transitional rates for May 2011. EXEMPT ORGANIZATIONS Announcement 2011–33, page 933. A list is provided of organizations now classified as private foun- dations. Announcement 2011–36, page 933. This announcement invites public comments on transitional is- sues and frequently asked questions involving the redesigned Form 990. Comments are requested by August 1, 2011. ADMINISTRATIVE Notice 2011–48, page 927. This notice invites public comments on the content and admin- istration of the registered tax return preparer competency ex- amination. Comments are requested by July 7, 2011. Rev. Proc. 2011–37, page 931. Qualified mortgage bonds; mortgage credit certificates; national median gross income.Guidance is provided con- cerning the use of the national and area median gross income figures by issuers of qualified mortgage bonds and mortgage credit certificates in determining the housing cost/income ratio described in section 143(f) of the Code. Rev. Proc. 2010-23 obsoleted in part. Fi nding Lists begin on page ii. Index for January through June begins on page vi. The IRS Mission Provide Americ a’s taxpayers top-quality service by helping them understa nd and meet their tax responsibilities and en- force the law wi th integrity and fairness to all. Introduction The Internal Revenue Bulletin is the authoritative instrument of the Commissioner of Internal Revenue for announcing official rulings and procedures of the Internal Revenue Service and for publishing Treasury Decisions, Executive Orders, Tax Conven- tions, legislation, court decisions, and other items of general interest. It is published weekly and may be obtained from the Superintendent of Documents on a subscription basis. Bulletin contents are compiled semiannually into Cumulative Bulletins, which are sold on a single-copy basis. It is the policy of the Service to publish in the Bulletin all sub- stantive rulings necessary to promote a uniform application of the tax laws, including all rulings that supersede, revoke, mod- ify, or amend any of those previously published in the Bulletin. All published rulings apply retroactively unless otherwise indi- cated. Procedures relating solely to matters of internal man- agement are not published; however, statements of internal practices and procedures that affect the rights and duties of taxpayers are published. Revenue rulings represent the conclusions of the Service on the application of the law to the pivotal facts stated in the revenue ruling. In those based on positions taken in rulings to taxpayers or technical advice to Service field offices, identifying details and information of a confidential nature are deleted to prevent unwarranted invasions of privacy and to comply with statutory requirements. Rulings and procedures reported in the Bulletin do not have the force and effect of Treasury Department Regulations, but they may be used as precedents. Unpublished rulings will not be relied on, used, or cited as precedents by Service personnel in the disposition of other cases. In applying published rulings and procedures, the effect of subsequent legislation, regulations, court decisions, rulings, and procedures must be considered, and Service personnel and others concerned are cautioned against reaching the same conclusions in other cases unless the facts and circumstances are substantially the same. The Bulletin is divided into four parts as follows: Part I.—19 86 Code. This part i ncludes rulings and decisions based on provisions of the Intern al Revenue Code of 1986. Part II.—Treaties and Tax Legislation. This part is divided into two subparts as follows: Subpart A, Tax Conventions and Other Related Items, and Subpart B, Leg- islation and Related Committee Reports. Part III.—Administrative, Procedural, and Miscellaneous. To the extent practicable, pertinent cross references to these subjects are contained in the other Parts and Subparts. Also included in this part are Bank Secrecy Act Administrative Rul- ings. Bank Secrecy Act Administrative Rulings are issued by the Department of the Treasury’s Office of the Assistant Secre- tary (Enforcement). Part IV .—Items of General Interest. This par t includes notices of proposed rulemakings, disbar- ment an d suspension lists, and announcements. The last Bulletin for each month includes a cumulative index for the matters published during the preceding months. These monthly indexes are cumulated on a semiannual basis, and are published in the last Bulletin of each semiannual period. The c ontents of this publication are not copyrighted and may be reprinted freely. A citation of the Internal Revenue Bulletin as the source would be appropriate. For sale by the Superintendent of Documents, U.S.Government Printing Office, Washington, DC 20402. June 27, 20112011–26 I.R.B. Part I. Rulings and Decisions Under the Internal Revenue Code of 1986 Section 6621. —Determina- tion of Rate of Interest 26 CFR 301.662 1–1: Interest rate. Interest rate s; underpayments and overpayments .The rates for interest de- termined unde rsection6621oftheCode for the calen dar quarter beginning July 1, 2011, will be 4 percent for overpayments (3 percent in the case of a corporation), 4 percent for u nderpayments, and 6 percent for large co rporate underpayments. The rate of inte rest paid on the portion of a corporate o verpayment exceeding $10,000 will be 1.5 p ercent. Rev. Rul. 20 11–12 Section 66 21 of the Internal Revenue Code estab lishes the rates for interest on tax over payments and tax underpay- ments. Und er section 6621(a)(1), the overpayme nt rate is the sum of the federal short-te rm rate plus 3 percentage points (2 percen tage points in the case of a cor- poration ), except the rate for the portion of a corpo rate overpayment of tax exceed- ing $10,0 00 for a taxable period is the sum of th e federal short-term rate plus 0.5 of a p ercentage point. Under section 6621(a) (2), the underpayment rate is the sum of th e federal short-term rate plus 3 percent age points. Section 6621(c) provides that for pur- poses of interest payable under section 6601 on any large corporate underpay- ment, t he underpayment rate under section 6621(a )(2) is determined by substituting “5 perc entage points” for “3 percentage points .” See section 6621(c) and section 301.6621–3 of the Regulations on Proce- dure and Admin istration for the definition of a large corp orate underpayment and for the rules for determining the appli- cable date. S ection 6621(c) and section 301.6621–3 a re generally effective for periods afte r December 31, 1990. Section 6621 (b)(1) provides that the Secretary wi ll determine the federal short-term rate for the first month in each calendar qu arter. Section 6621(b)(2)(A) provides th at the federal short-term rate determined under section 6621(b)(1) for anymontha pplies during the first calen- dar quarte r beginning after that month. Section 66 21(b)(3) provides that the fed- eral short -term rate for any month is the federal sh ort-term rate determined during that mont h by the Secretary in accordance with sect ion 1274(d), rounded to the near- estfullp ercent (or, if a multiple of 1 /2of 1 percent , the rate is increased to the next highest f ull percent). Notice 88 –59, 1988–1 C.B. 546, an- nounced t hat, in determining the quarterly interes t rates to be used for overpayments and unde rpayments of tax under section 6621, th e Internal Revenue Service will use the f ederal short-term rate based on daily c ompounding because that rate is most co nsistent with section 6621 which, pursua nt to section 6622, is subject to daily compou nding. The fed eral short-term rate determined in acco rdance with section 1274(d) dur- ing Apr il 2011 is the rate published in Reven ue Ruling 2011–11, 2011–19 I.R.B. 758 to take effect beginning May 1, 2011. The fe deral short-term rate, rounded to the neare st full percent, based on daily com- pounding dete rmined during the month of April 2011 is 1 percent. Accordingly, an overpayment r ate of 4 percent (3 percent in the case of a corporation) and an under- payment rate of 4 percent are established for the calen dar quarter beginning July 1, 2011. The ove rpayment rate for the por- tion of a cor porate overpayment exceeding $10,000 for the calendar quarter beginning July 1, 2011 , is 1.5 percent. The under- payment rat e for large corporate underpay- ments for th e calendar quarter beginning July 1, 201 1, is 6 percent. These rates ap- plytoamou nts bearing interest during that calendar q uarter. Interest f actors for daily compound in- terest for annual rates of 1.5 percent, 3 per- cent, 4 per cent and 6 percent are published in Tables 8, 11, 13, and 17 of Rev. Proc. 95–17, 19 95–1 C.B. 556, 562, 567, and 571. Inte rest factors for daily compound interest for an annual rate of 0.5 percent are publi shed in Appendix A of Revenue Ruling 2 010–31, 2010–52 I.R.B. 898, 899. Annual in terest rates to be compounded daily pu rsuant to section 6622 that apply for prio r periods are set forth in the tables accompa nying this revenue ruling. DRAFTIN G INFORMATION The prin cipal author of this revenue rul- ing is De borah Colbert-James of the Office of Asso ciate Chief Counsel (Procedure & Admini stration). For further information regard ing this revenue ruling, contact Ms. Col bert-James at (202) 622–8143 (not a t oll-free call). 2011–26 I.R.B.917June 27, 2011 APPENDIX A 365 Day Year 0.5% Compound Ra te 184 Days DaysFactorDaysFactorDaysFactor 10.000013699630.000863380 125 0.001713784 20.000027397640.000877091126 0.001727506 30.000041096 65 0.0008908011270.001741228 4 0.000054796 66 0.000904512 128 0.001754951 50.000068495 670.0009182231290.001768673 6 0.000082195 680.0009319341300.001782396 7 0.000095894 69 0.000945646 1310.001796119 8 0.000109594 70 0.000959357 1320.001809843 90.000123294710.000973069133 0.001823566 10 0.000136995 720.0009867811340.001837290 11 0.000150695 730.001000493 1350.001851013 120.000164396740.0010142061360.001864737 130.00017809 7 75 0.00102791 8 1370.00187846 2 140.000191798760.0010416311380.001892186 150.0002054 99 77 0.0010553 44 139 0.0019059 10 160.0002192 01 78 0.001069057 140 0.001919635 170.000232902790.0010827701410.001933360 180.000246604800.001096484142 0.001947 085 190.000260 306 810.001110 197 1430.001960 811 200.000274008820.001123911144 0.001974536 210.00028771183 0.001137 625 145 0.001988262 220.000301 413 84 0.001151339 1460.002001 988 23 0.000315116850.001165054 147 0.002015714 240.000328819860.0011787681480.002029440 250.000342522 870.00119 2483 1490.00204 3166 26 0.000356225 880.001206198 1500.002056893 270.000369929890.001219913 151 0.002070620 280.0003 83633 900.0012 33629 152 0.0020 84347 290.000397336910.001247344 153 0.002098074 300.000411041920.001261060 154 0.002111801 31 0.000424745 930.001 274776 1550.002125529 320.000438449940.001288492 1560.002139257 33 0.00 0452154 95 0.001302208 1570.00 2152985 34 0.000465859 96 0.001315925158 0.00 2166713 350.000479564 970.001329641 159 0.002180441 360.00049326998 0.0 01343358 1600.002194169 37 0.000506974 99 0.001357075 1610.0 02207898 38 0.000520680 1000.0013707921620.002221627 39 0.0 00534386 101 0.0 01384510 163 0.0 02235356 40 0.000548092 10 2 0. 001398227 16 4 0.002249085 41 0.000561798 103 0.0014119451650.002262815 42 0. 000575504 104 0. 001425663 166 0. 002276544 43 0.000589211105 0. 001439381 16 7 0. 002290274 440.000602917106 0.001453100 1680.002304004 4 5 0.0006166241070.0014668181690.002317734 4 6 0 .000630331 1 08 0.001480537 1 70 0.002331465 470.000644039109 0.001494256 171 0.002345195 48 0.000657746 110 0.001507975 172 0.002358926 49 0.000671454 111 0.001521694 173 0.002372657 500.000685161 112 0.001535414 1740.002386388 51 0.000698869113 0.001549133175 0.002400120 520.000712578 114 0.001562853 176 0.002413851 53 0.000726286 1150.001576573 177 0.002427583 540.000739995 116 0.001590293 178 0.002441315 550.000753703 1170.001604014179 0.002455047 56 0.0007674121180.0016177341800.002468779 June 27, 20119182011–26 I.R.B. 365 Day Year 0.5% Compound Rate 184 Days DaysFactorDaysFactorDaysFactor 57 0.000781121119 0.001631455 181 0.002482511 58 0.000794831120 0.001645176 1820.002496244 590.000808540 121 0.001658897 183 0.002509977 60 0.000822250 1220.001672619184 0.002523710 61 0.000835960 1230.001686340 620.0008496701240.001700062 365 Day Year 0.5% Compound Rate 184 Days DaysFactorDaysFactorDaysFactor 10.000013661630.000861020 125 0.001709097 20.000027323640.0008746931260.001722782 30.000040984 65 0.0008883661270.001736467 4 0.000054646 660.000902040128 0.001750152 5 0.00006830867 0.000915713 1290.001763837 60.000081970680.000929387130 0.001777522 7 0.000095632 690.0009430611310.001791208 8 0.000109295 70 0.000956735 1320.001804893 9 0.000122958 710.000970409133 0.001818579 100.000136620720.000984084134 0.001832265 11 0.000150283 73 0.0009977581350.001845951 120.000163947740.001011433136 0.001859638 130.000177610 750.001025108 1370.001873324 140.000191274760.0010387831380.001887011 15 0.00020493877 0.001052459 1390.001900698 160.000218602780.001066134140 0.001914385 170.000232266790.0010798101410.001928073 18 0.000245930 800.0010934861420.001941760 19 0.000259595 810.001107162143 0.001955448 200.000273260820.0011208391440.001969136 210.00028692483 0.001134515145 0.001982824 22 0.000300590 840.001148192146 0.001996512 23 0.00031425585 0.0011618691470.002010201 240.00032792086 0.001175546 1480.002023889 250.000341586 870.001189223149 0.002037578 26 0.000355252 880.001202900 1500.002051267 270.00036891889 0.0012165781510.002064957 28 0.000382584 90 0.001230256152 0.002078646 29 0.000396251 910.001243934 153 0.002092336 300.00040991792 0.0012576121540.002106025 31 0.000423584 930.001271291 1550.002119715 32 0.000437251 940.001284969 1560.002133405 33 0.00045091895 0.001298648 157 0.002147096 34 0.000464586 960.001312327 158 0.002160786 350.000478253 970.001326006 159 0.002174477 360.00049192198 0.001339685 1600.002188168 37 0.000505589 99 0.001353365 161 0.002201859 38 0.000519257 1000.001367044162 0.002215550 39 0.000532925 1010.0013807241630.002229242 40 0.000546594 1020.0013944041640.002242933 41 0.000560262 103 0.0014080851650.002256625 42 0.000573931 104 0.001421765 1660.002270317 43 0.0005876001050.001435446 1670.002284010 440.0006012691060.0014491271680.002297702 45 0.0006149391070.001462808169 0.002311395 2011–26 I.R.B.919June 27, 2011 365 Day Year 0.5% Compound Rate 184 Days DaysFactorDaysFactorDaysFactor 460.0006286081080.001476489170 0.002325087 470.0006422781090.0014901701710.002338780 48 0.000655948 110 0.001503852 172 0.002352473 490.000669618111 0.001517533 1730.002366167 50 0.000683289112 0.001531215 1740.002379860 510.000696959 113 0.0015448971750.002393554 52 0.000710630114 0.001558580 1760.002407248 53 0.000724301 1150.001572262 1770.002420942 54 0.000737972116 0.001585945 1780.002434636 550.000751643 117 0.001599628 1790.002448331 560.000765315 1180.001613311180 0.002462025 57 0.0007789861190.001626994181 0.002475720 580.000792658 1200.001640678182 0.002489415 59 0.000806330121 0.001654361 183 0.002503110 600.000820003122 0.001668045 184 0.002516806 61 0.000833675 1230.001681729 620.000847348124 0.001695413 TABLE OF INTEREST RATES PERIODS BEFORE JUL. 1, 1975 — PERIODS ENDING DEC. 31, 1986 OVERPAYMENTS AND UNDERPAYMENTS PERIODRATE In 1995–1 C.B. DAILY RATE TABLE Before Jul. 1, 1975 6% Table 2, pg. 557 Jul. 1, 1975—Jan. 31, 1976 9% Table 4, pg. 559 Feb. 1, 1976—Jan. 31, 19787% Table 3, pg. 558 Feb. 1, 1978—Jan. 31, 19806% Table 2, pg. 557 Feb. 1, 1980—Jan. 31, 198212% Table 5, pg. 560 Feb. 1, 1982—Dec. 31, 198220% Table 6, pg. 560 Jan. 1, 1983—Jun. 30, 198316% Table 37, pg. 591 Jul. 1, 1983—Dec. 31, 198311% Table 27, pg. 581 Jan. 1, 1984—Jun. 30, 198411% Table 75, pg. 629 Jul. 1, 1984—Dec. 31, 198411% Table 75, pg. 629 Jan. 1, 1985—Jun. 30, 1985 13% Table 31, pg. 585 Jul. 1, 1985—Dec. 31, 1985 11% Table 27, pg. 581 Jan. 1, 1986—Jun. 30, 198610% Table 25, pg. 579 Jul. 1, 1986—Dec. 31, 19869% Table 23, pg. 577 TABLE OF INTEREST RATES FROM JAN. 1, 1987 — DEC. 31, 1998 OVERPAYMENTSUNDERPAYMENTS 1995–1 C.B.1995–1 C.B. RATE TABLEPGRATE TABLEPG Jan. 1, 1987—Mar. 31, 19878%21 575 9%23 577 Apr. 1, 1987—Jun. 30, 19878%21 575 9%23 577 Jul. 1, 1987—Sep. 30, 19878%21 575 9%23 577 Oct. 1, 1987—Dec. 31, 19879%23 577 10% 25579 Jan. 1, 1988—Mar. 31, 198810%7362711% 75 629 Apr. 1, 1988—Jun. 30, 19889%71 625 10%73627 Jul. 1, 1988—Sep. 30, 19889%71 625 10%73627 Oct. 1, 1988—Dec. 31, 198810%7362711% 75 629 June 27, 20119202011–26 I.R.B. TABLE OF INTEREST RATES FROM JAN. 1, 1987 — DEC. 31, 1998 – Continued OVERPAYMENTSUNDERPAYMENTS 1995–1 C.B.1995–1 C.B. RATE TABLEPGRATE TABLEPG Jan. 1, 1989—Mar. 31, 198910% 25579 11%27 581 Apr. 1, 1989—Jun. 30, 198911%27 581 12%29 583 Jul. 1, 1989—Se p. 30, 1989 11%27 581 12%29 583 Oct. 1, 1989—Dec. 31, 198910% 25579 11%27 581 Jan. 1, 1990—Mar. 31, 199010% 25579 11%27 581 Apr. 1, 1990—J un. 30, 1990 10% 25579 11%27 581 Jul. 1, 1990—Sep. 30, 199010% 25579 11%27 581 Oct. 1, 1990—Dec. 31, 199010% 25579 11%27 581 Jan. 1, 1991— Mar. 31, 1991 10% 25579 11%27 581 Apr. 1, 1991—Jun. 30, 19919%23 577 10% 25579 Jul. 1, 1991—Sep. 30, 19919%23 577 10% 25579 Oct. 1, 1991 —Dec. 31, 1991 9%23 577 10% 25579 Jan. 1, 1992—Mar. 31, 19928%696239%71 625 Apr. 1, 1992—Jun. 30, 19927%676218%69623 Jul. 1, 1992 —Sep. 30, 1992 7%676218%69623 Oct. 1, 1992—Dec. 31, 19926% 65 6197%67621 Jan. 1, 1993—Mar. 31, 19936%17 571 7%19 573 Apr. 1, 19 93—Jun. 30, 1993 6%17 571 7%19 573 Jul. 1, 1993—Sep. 30, 19936%17 571 7%19 573 Oct. 1, 1993—Dec. 31, 19936%17 571 7%19 573 Jan. 1, 19 94—Mar. 31, 1994 6%17 571 7%19 573 Apr. 1, 1994—Jun. 30, 19946%17 571 7%19 573 Jul. 1, 1994—Sep. 30, 19947%19 573 8%21 575 Oct. 1, 1 994—Dec. 31, 1994 8%21 575 9%23 577 Jan. 1, 1995—Mar. 31, 1995 8%21 575 9%23 577 Apr. 1, 1995—Jun. 30, 1995 9%23 577 10% 25579 Jul. 1, 1995—Sep. 30, 1995 8%21 575 9%23 577 Oct. 1, 1995—Dec. 31, 1995 8%21 575 9%23 577 Jan. 1, 1996—Mar. 31, 19968%696239%71 625 Apr. 1 , 1996—Jun. 30, 1996 7%676218%69623 Jul. 1, 1996—Sep. 30, 19968%696239%71 625 Oct. 1, 1996—Dec. 31, 19968%696239%71 625 Jan. 1, 1997—Mar. 31, 1997 8%21 575 9%23 577 Apr. 1, 1997—Jun. 30, 19978%21 575 9%23 577 Jul. 1, 1997—Sep. 30, 19978%21 575 9%23 577 Oct . 1, 1997—Dec. 31, 1997 8%21 575 9%23 577 Jan. 1, 1998—Mar. 31, 19988%21 575 9%23 577 Apr. 1, 1998—Jun. 30, 19987%19 573 8%21 575 Jul . 1, 1998—Sep. 30, 1998 7%19 573 8%21 575 Oct. 1, 1998—Dec. 31, 19987%19 573 8%21 575 TABLE OF INTEREST RATES FROM JANUARY 1, 1999 — PRESENT NONCORPORATE OVERPAYMENTS AND UNDERPAYMENTS 1995–1 C.B. RATETABLEPG Jan. 1, 1999—Mar. 31, 19997%19 573 Apr . 1, 1999—Jun. 30, 1999 8%21 575 Jul. 1, 1999—Sep. 30, 19998%21 575 Oct. 1, 1999—Dec. 31, 19998%21 57 5 Ja n. 1, 2000—Mar. 31, 2000 8%6962 3 Apr. 1, 2000—Jun. 30, 20009%71 625 2011–26 I.R.B.921June 27, 2011 TABLE OF INTEREST RATES FROM JANUARY 1, 1999 — PRESENT – Continued NONCORPORATE OVERPAYMENTS AND UNDERPAYMENTS 1995–1 C.B. RATETABLEPG Jul. 1, 2000—Sep. 30, 20009%71 625 Oct. 1, 2000—Dec. 31, 20009%71 625 Jan. 1, 2001—Mar. 31, 20019%23 577 Apr. 1, 2001—Jun. 30, 20018%21 575 Jul. 1, 2001—Sep. 30, 20017%19 573 Oct. 1, 2001—Dec. 31, 20017%19 573 Jan. 1, 2002—Mar. 31, 20026%17 571 Apr. 1, 2002—Jun. 30, 20026%17 571 Jul. 1, 2002—Sep. 30, 20026%17 571 Oct. 1, 2002—Dec. 31, 20026%17 571 Jan. 1, 2003—Mar. 31, 2003 5%15569 Apr. 1, 2003—Jun. 30, 2003 5%15569 Jul. 1, 2003—Sep. 30, 2003 5%15569 Oct. 1, 2003—Dec. 31, 20034%13 567 Jan. 1, 2004—Mar. 31, 20044%61 615 Apr. 1, 2004—Jun. 30, 2004 5% 63617 Jul. 1, 2004—Sep. 30, 20044%61 615 Oct. 1, 2004—Dec. 31, 2004 5% 63617 Jan. 1, 2005—Mar. 31, 20055%15569 Apr. 1, 2005—Jun. 30, 2005 6%17 571 Jul. 1, 2005—Sep. 30, 2005 6%17 571 Oct. 1, 2005—Dec. 31, 2005 7%19 573 Jan. 1, 2006—Mar. 31, 20067%19 573 Apr. 1, 2006—Jun. 30, 20067%19 573 Jul. 1, 2006—Sep. 30, 20068%21 575 Oct. 1, 2006—Dec. 31, 20068%21 575 Jan. 1, 2007—Mar. 31, 20078%21 575 Apr. 1, 2007—Jun. 30, 20078%21 575 Jul. 1, 2007—Sep. 30, 20078%21 575 Oct. 1, 2007—Dec. 31, 20078%21 575 Jan. 1, 2008—Mar. 31, 20087%67621 Apr. 1, 2008—Jun. 30, 20086% 65 619 Jul. 1, 2008—Sep. 30, 2008 5% 63617 Oct. 1, 2008—Dec. 31, 20086% 65 619 Jan. 1, 2009—Mar. 31, 2009 5%15569 Apr. 1, 2009—Jun. 30, 20094%13 567 Jul. 1, 2009—Sep. 30, 20094%13 567 Oct. 1, 2009—Dec. 31, 20094%13 567 Jan. 1, 2010—Mar. 31, 20104%13 567 Apr. 1, 2010—Jun. 30, 20104%13 567 Jul. 1, 2010—Sep. 30, 20104%13 567 Oct. 1, 2010—Dec. 31, 20104%13 567 Jan. 1, 2011—Mar. 31, 20113%11 565 Apr. 1, 2011—Jun. 30, 20114%13 567 Jul. 1, 2011—Sep. 30, 20114%13 567 June 27, 20119222011–26 I.R.B. TABLE OF INTEREST RATES FROM JANUARY 1, 1999 — PRESENT CORPORATE OVERPAYMENTS AND UNDERPAYMENTS OVERPAYMENTSUNDERPAYMENTS 1995–1 C.B.1995–1 C.B. RATE TABLEPGRATE TABLEPG Jan. 1, 1999—Mar. 31, 19996%17 571 7%19 573 Apr. 1, 1999—Jun . 30, 1999 7%19 573 8%21 575 Jul. 1, 1999—Sep. 30, 19997%19 573 8%21 575 Oct. 1, 1999—Dec. 31, 19997%19 573 8%21 575 Jan. 1, 2000—Ma r. 31, 2000 7%676218%69623 Apr. 1, 2000—Jun. 30, 20008%696239%71 625 Jul. 1, 2000—Sep. 30, 20008%696239%71 625 Oct. 1, 2000—D ec. 31, 2000 8%696239%71 625 Jan. 1, 2001—Mar. 31, 20018%21 575 9%23 577 Apr. 1, 2001—Jun. 30, 20017%19 573 8%21 575 Jul. 1, 2001— Sep. 30, 2001 6%17 571 7%19 573 Oct. 1, 2001—Dec. 31, 20016%17 571 7%19 573 Jan. 1, 2002—Mar. 31, 2002 5%15569 6%17 571 Apr. 1, 2002 —Jun. 30, 2002 5%15569 6%17 571 Jul. 1, 2002—Sep. 30, 2002 5%15569 6%17 571 Oct. 1, 2002—Dec. 31, 2002 5%15569 6%17 571 Jan. 1, 200 3—Mar. 31, 2003 4%13 5675%15569 Apr. 1, 2003—Jun. 30, 20034%13 5675%15569 Jul. 1, 2003—Sep. 30, 20034%13 5675%15569 Oct. 1, 20 03—Dec. 31, 2003 3%11 565 4%13 567 Jan. 1, 2004—Mar. 31, 20043% 59 6134%61 615 Apr. 1, 2004—Jun. 30, 20044%61 6155% 63617 Jul. 1, 2 004—Sep. 30, 2004 3% 59 6134%61 615 Oct. 1, 2004—Dec. 31, 20044%61 6155% 63617 Jan. 1, 2 005—Mar. 31, 2005 4%13 5675%15569 Apr. 1, 2005—Jun. 30, 20055%15569 6%17 571 Jul. 1, 2005—Sep. 30, 20055%15569 6%17 571 Oct. 1, 2005—Dec. 31, 2005 6%17 571 7%19 573 Jan. 1, 2006—Mar. 31, 2006 6%17 571 7%19 573 Apr. 1, 2006—Jun. 30, 20066%17 571 7%19 573 Jul. 1, 2006—Sep. 30, 20067%19 573 8%21 575 Oct. 1 , 2006—Dec. 31, 2006 7%19 573 8%21 575 Jan. 1, 2007—Mar. 31, 20077%19 573 8%21 575 Apr. 1, 2007—Jun. 30, 20077%19 573 8%21 575 Jul. 1, 2007—Sep. 30, 2007 7%19 573 8%21 575 Oct. 1, 2007—Dec. 31, 20077%19 573 8%21 575 Jan. 1, 2008—Mar. 31, 20086% 65 6197%67621 Apr . 1, 2008—Jun. 30, 2008 5% 636176% 65 619 Jul. 1, 2008—Sep. 30, 20084%61 6155% 63617 Oct. 1, 2008—Dec. 31, 2008 5% 636176% 65 619 Jan . 1, 2009—Mar. 31, 2009 4%13 5675%15569 Apr. 1, 2009—Jun. 30, 20093%11 565 4%13 567 Jul. 1, 2009—Sep. 30, 20093%11 56 5 4%13 56 7 Oc t. 1, 2009—Dec. 31, 2009 3%11 565 4%13 567 Jan. 1, 2010—Mar. 31, 20103%11 565 4%13 567 Apr. 1, 2010—Jun. 30, 20103%11 5 65 4%13 5 67 J ul. 1, 2010—Sep. 30, 2010 3 % 1 1 565 4 % 1 3 567 Oct. 1, 2010—Dec. 31, 20103%11 565 4%13 567 Jan. 1, 2011—Mar. 31, 20112%9 563 3%11 565 Apr. 1, 2011—Jun. 30, 20113%11 565 4%13 567 Jul. 1, 2011—Sep. 30, 20113%11 565 4%13 567 2011–26 I.R.B.923June 27, 2011 TABLE OF INTEREST RATES FOR LARGE CORPORATE UNDERPAYMENTS FROM JANUARY 1, 1991 — PRESENT 1995–1 C.B. RATETABLEPG Jan. 1, 1991—Mar. 31, 199113%31 585 Apr. 1, 1991—Jun. 30, 199112%29 583 Jul. 1, 1991—Sep. 30, 199112%29 583 Oct. 1, 1991—Dec. 31, 199112%29 583 Jan. 1, 1992—Mar. 31, 199211% 75 629 Apr. 1, 1992—Jun. 30, 199210%73627 Jul. 1, 1992—Sep. 30, 199210%73627 Oct. 1, 1992—Dec. 31, 19929%71 625 Jan. 1, 1993—Mar. 31, 19939%23 577 Apr. 1, 1993—Jun. 30, 19939%23 577 Jul. 1, 1993—Sep. 30, 19939%23 577 Oct. 1, 1993—Dec. 31, 19939%23 577 Jan. 1, 1994—Mar. 31, 19949%23 577 Apr. 1, 1994—Jun. 30, 19949%23 577 Jul. 1, 1994—Sep. 30, 199410% 25579 Oct. 1, 1994—Dec. 31, 199411%27 581 Jan. 1, 1995—Mar. 31, 1995 11%27 581 Apr. 1, 1995—Jun. 30, 1995 12%29 583 Jul. 1, 1995—Sep. 30, 1995 11%27 581 Oct. 1, 1995—Dec. 31, 1995 11%27 581 Jan. 1, 1996—Mar. 31, 199611% 75 629 Apr. 1, 1996—Jun. 30, 199610%73627 Jul. 1, 1996—Sep. 30, 199611% 75 629 Oct. 1, 1996—Dec. 31, 199611% 75 629 Jan. 1, 1997—Mar. 31, 199711%27 581 Apr. 1, 1997—Jun. 30, 199711%27 581 Jul. 1, 1997—Sep. 30, 199711%27 581 Oct. 1, 1997—Dec. 31, 199711%27 581 Jan. 1, 1998—Mar. 31, 199811%27 581 Apr. 1, 1998—Jun. 30, 199810% 25579 Jul. 1, 1998—Sep. 30, 199810% 25579 Oct. 1, 1998—Dec. 31, 199810% 25579 Jan. 1, 1999—Mar. 31, 19999%23 577 Apr. 1, 1999—Jun. 30, 199910% 25579 Jul. 1, 1999—Sep. 30, 199910% 25579 Oct. 1, 1999—Dec. 31, 199910% 25579 Jan. 1, 2000—Mar. 31, 200010%73627 Apr. 1, 2000—Jun. 30, 200011% 75 629 Jul. 1, 2000—Sep. 30, 200011% 75 629 Oct. 1, 2000—Dec. 31, 200011% 75 629 Jan. 1, 2001—Mar. 31, 200111%27 581 Apr. 1, 2001—Jun. 30, 200110% 25579 Jul. 1, 2001—Sep. 30, 20019%23 577 Oct. 1, 2001—Dec. 31, 20019%23 577 Jan. 1, 2002—Mar. 31, 20028%21 575 Apr. 1, 2002—Jun. 30, 20028%21 575 Jul. 1, 2002—Sep. 30, 20028%21 575 Oct. 1, 2002—Dec. 30, 20028%21 575 Jan. 1, 2003—Mar. 31, 20037%19 573 Apr. 1, 2003—Jun. 30, 20037%19 573 Jul. 1, 2003—Sep. 30, 20037%19 573 Oct. 1, 2003—Dec. 31, 20036%17 571 Jan. 1, 2004—Mar. 31, 20046% 65 619 Apr. 1, 2004—Jun. 30, 20047%67621 Jul. 1, 2004—Sep. 30, 20046% 65 619 Oct. 1, 2004—Dec. 31, 20047%67621 June 27, 20119242011–26 I.R.B. TABLE OF INTEREST RATES FOR LARGE CORPORATE UNDERPAYMENTS FROM JANUARY 1, 1991 — PRESENT – Continued 1995–1 C.B. RATETABLEPG Jan. 1, 2005—Mar. 31, 2005 7%19 573 Apr. 1, 2005—Jun. 30, 2005 8%21 575 Jul. 1, 2005—Sep. 30, 2005 8%21 575 Oct. 1, 2005—Dec. 31, 2005 9%23 577 Jan. 1, 2006—Mar. 31, 20069%23 577 Apr. 1, 2006—Jun. 30, 20069%23 577 Jul. 1, 2006—Sep. 30, 200610% 25579 Oct. 1, 2006—Dec. 31, 200610% 25579 Jan. 1, 2007—Mar. 31, 200710% 25579 Apr. 1, 2007—Jun. 30, 200710% 25579 Jul. 1, 2007—Sep. 30, 200710% 25579 Oct. 1, 2007—Dec. 31, 200710% 25579 Jan. 1, 2008—Mar. 31, 20089%71 625 Apr. 1, 2008—Jun. 30, 20088%69623 Jul. 1, 2008—Sep. 30, 20087%67621 Oct. 1, 2008—Dec. 31, 20088%69623 Jan. 1, 2009—Mar. 31, 20097%19 573 Apr. 1, 2009—Jun. 30, 20096%17 571 Jul. 1, 2009—Sep. 30, 20096%17 571 Oct. 1, 2009—Dec. 31, 20096%17 571 Jan. 1, 2010—Mar. 31, 20106%17 571 Apr. 1, 2010—Jun. 30, 20106%17 571 Jul. 1, 2010—Sep. 30, 20106%17 571 Oct. 1, 2010—Dec. 31, 20106%17 571 Jan. 1, 2011—Mar. 31, 2011 5%15569 Apr. 1, 2011—Jun. 30, 20116%17 571 Jul. 1, 2011—Sep. 30, 20116%17 571 TABLE OF INTEREST RATES FOR CORPORATE OVERPAYMENTS EXCEEDING $10,000 FROM JANUARY 1, 1995 — PRESENT 1995–1 C.B. RATETABLEPG Jan. 1, 1995—Mar. 31, 19956.5% 18 572 Apr. 1, 1995—Jun. 30, 19957.5% 20 574 Jul. 1, 1995—Sep. 30, 19956.5% 18 572 Oct. 1, 1995—Dec. 31, 19956.5% 18 572 Jan. 1, 1996—Mar. 31, 1996 6.5% 66620 Apr. 1, 1996—Jun. 30, 1996 5.5% 64618 Jul. 1, 1996—Sep. 30, 1996 6.5% 66620 Oct. 1, 1996—Dec. 31, 1996 6.5% 66620 Jan. 1, 1997—Mar. 31, 1997 6.5% 18 572 Apr. 1, 1997—Jun. 30, 1997 6.5% 18 572 Jul. 1, 1997—Sep. 30, 1997 6.5% 18 572 Oct. 1, 1997—Dec. 31, 1997 6.5% 18 572 Jan. 1, 1998—Mar. 31, 1998 6.5% 18 572 Apr. 1, 1998—Jun. 30, 1998 5.5% 16 570 Jul. 1, 1998—Sep. 30, 1998 5.5% 16 570 Oct. 1, 1998—Dec. 31, 1998 5.5% 16 570 Jan. 1, 1999—Mar. 31, 1999 4.5% 14 568 Apr. 1, 1999—Jun. 30, 1999 5.5% 16 570 Jul. 1, 1999—Sep. 30, 1999 5.5% 16 570 2011–26 I.R.B.925June 27, 2011 TABLE OF INTEREST RATES FOR CORPORATE OVERPAYMENTS E XCEEDING $10,000 FROM JANUARY 1, 1995 — PRESENT – Continued 1995–1 C.B. RATETABLEPG Oct. 1, 1999—Dec. 31, 1999 5.5% 16 570 Jan. 1, 2000—Mar. 31, 2000 5.5% 64618 Apr. 1, 2000—Jun. 30, 2000 6.5% 66620 Jul. 1, 2000—Sep. 30, 2000 6.5% 66620 Oct. 1, 2000—Dec. 31, 2000 6.5% 66620 Jan. 1, 2001—Mar. 31, 2001 6.5% 18 572 Apr. 1, 2001—Jun. 30, 2001 5.5% 16 570 Jul. 1, 2001—Sep. 30, 2001 4.5% 14 568 Oct. 1, 2001—Dec. 31, 2001 4.5% 14 568 Jan. 1, 2002—Mar. 31, 2002 3.5% 12 566 Apr. 1, 2002—Jun. 30, 2002 3.5% 12 566 Jul. 1, 2002—Sep. 30, 2002 3.5% 12 566 Oct. 1, 2002—Dec. 31, 2002 3.5% 12 566 Jan. 1, 2003—Mar. 31, 2003 2.5% 10 564 Apr. 1, 2003—Jun. 30, 2003 2.5% 10 564 Jul. 1, 2003—Sep. 30, 2003 2.5% 10 564 Oct. 1, 2003—Dec. 31, 2003 1.5% 8 562 Jan. 1, 2004—Mar. 31, 2004 1.5%56 610 Apr. 1, 2004—Jun. 30, 2004 2.5%58 612 Jul. 1, 2004—Sep. 30, 2004 1.5%56 610 Oct. 1, 2004—Dec. 31, 2004 2.5%58 612 Jan. 1, 2005—Mar. 31, 20052.5% 10 564 Apr. 1, 2005—Jun. 30, 20053.5% 12 566 Jul. 1, 2005—Sep. 30, 20053.5% 12 566 Oct. 1, 2005—Dec. 31, 20054.5% 14 568 Jan. 1, 2006—Mar. 31, 2006 4.5% 14 568 Apr. 1, 2006—Jun. 30, 2006 4.5% 14 568 Jul. 1, 2006—Sep. 30, 2006 5.5% 16 570 Oct. 1, 2006—Dec. 31, 2006 5.5% 16 570 Jan. 1, 2007—Mar. 31, 2007 5.5% 16 570 Apr. 1, 2007—Jun. 30, 2007 5.5% 16 570 Jul. 1, 2007—Sep. 30, 2007 5.5% 16 570 Oct. 1, 2007—Dec. 31, 2007 5.5% 16 570 Jan. 1, 2008—Mar. 31, 2008 4.5% 62616 Apr. 1, 2008—Jun. 30, 2008 3.5% 60614 Jul. 1, 2008—Sep. 30, 2008 2.5%58 612 Oct. 1, 2008—Dec. 31, 2008 3.5% 60614 Jan. 1, 2009—Mar. 31, 2009 2.5% 10 564 Apr. 1, 2009—Jun. 30, 2009 1.5% 8 562 Jul. 1, 2009—Sep. 30, 2009 1.5% 8 562 Oct. 1, 2009—Dec. 31, 2009 1.5% 8 562 Jan. 1, 2010—Mar. 31, 2010 1.5% 8 562 Apr. 1, 2010—Jun. 30, 2010 1.5% 8 562 Jul. 1, 2010—Sep. 30, 2010 1.5% 8 562 Oct. 1, 2010—Dec. 31, 2010 1.5% 8 562 Jan. 1, 2011—Mar. 31, 2011 0.5%* Apr. 1, 2011—Jun. 30, 2011 1.5% 8 562 Jul. 1, 2011—Sep. 30, 2011 1.5% 8 562 June 27, 20119262011–26 I.R.B. Part III. Administrative, Procedural, and Miscellaneous Registered Tax Return Preparer Competency Examination Notice 2011–48 Purpose This notice invites public comments on the content and administration of the registered tax return preparer competency examination (competency examination). The Treasury Department and the Internal Revenue Service have published final reg- ulations (T.D. 9527, 76 FR 32286) under 31 CFR Part 10 that require certain indi- viduals to pass a competency examination to become a registered tax return preparer. The IRS has selected a vendor to support the IRS in developing and administering the competency examination for the Form 1040 series tax returns and accompanying schedules. The IRS and the vendor will soon begin developing the Form 1040 competency examination. Prior to developing the competency ex- amination, however, the IRS seeks the in- put of tax return preparers, the associated industry and consumer groups, and taxpay- ers. Thus, comments regarding the Form 1040 series competency examination are requested. The information collected will assist the IRS in developing the compe- tency examination. Request for Public Comment The IRS requests comments on the con- tent and administration of the Form 1040 series competency examination. The IRS is particularly interested in any comments regarding: •The areas of tax law that should be covered by the examination; •The approximate percentage of the ex- amination that should be dedicated to each area of tax law identified above; •The format of the examination (e.g., multiple choice, short-answer ques- tions, written tax computations prob- lems, or a combination thereof); •The general difficulty and approximate length of the examination; •The detail of examination result infor- mation reported to the applicant (e.g., pass/fail, numeric scores); •The appropriate time-of-year/month to annually update the examination to re- flect the most current law; •The frequency that the examination should be administered (e.g., annually, semi-annually, quarterly, monthly, weekly, or daily); •The period of time that applicants, other than those individuals who ob- tain a preparer tax identification num- ber prior to the examination being offered, should be required to wait before retaking the examination if the applicant does not pass; •The administration of the examination in languages other than English and the other languages that should be consid- ered; •The elements of the special enrollment examination (content or test adminis- tration) for either enrolled agents or enrolled retirement plan agents that the competency examination should attempt to utilize or should not attempt to reproduce; and •Any additional information that the IRS should consider when developing the content of, and the procedures for administering, the competency exami- nation. Written comments should be sent to: Internal Revenue Service Attn: CC:PA:LPD:PR (Notice 2011–48) Room 5205 P.O. Box 7604 Ben Franklin Station Washington, D.C. 20044 or hand-deliveredMonday through Fri- day between the hours of 8 a.m. and 4 p.m. to: Courier’s Desk Internal Revenue Service Attn: CC:PA:LPD:PR (Notice 2011–48) 1111 Constitution Avenue, N.W. Washington, D.C. 20224 Alternatively,commentsmay be submitted electronically via e-mail to the following address: Notice.Comments@irscounsel.treas.gov. “Notice 2011–48” should be in the subject line of the e-mail. All comments will be available for public inspection and copying. Comments are requested by July 7, 2011. Drafting Information The principal author of this no- tice is Matthew D. Lucey of the Office of Associate Chief Counsel (Procedure & Administration). For further information regarding this notice, contact Matthew D. Lucey at (202) 622–4940 (not a toll-free call). Update for Weighted Average Interest Rates, Yield Curves, and Segment Rates Notice 2011–49 This notice provides guidance as to the corporate bond weighted average interest rate and the permissible range of interest rates specified under §412(b)(5)(B)(ii)(II) of the Internal Revenue Code as in ef- fect for plan years beginning before 2008. It also provides guidance on the cor- porate bond monthly yield curve (and the corresponding spot segment rates), and the 24-month average segment rates under § 430(h)(2). In addition, this no- tice provides guidance as to the interest rate on 30-year Treasury securities un- der § 417(e)(3)(A)(ii)(II) as in effect for plan years beginning before 2008, the 30-year Treasury weighted average rate under § 431(c)(6)(E)(ii)(I), and the min- imum present value segment rates under § 417(e)(3)(D) as in effect for plan years beginning after 2007. CORPORATE BOND WEIGHTED AVERAGE INTEREST RATE Sections412(b)(5)(B)(ii)and 412(l)(7)(C)(i), as amended by the Pen- sion Funding Equity Act of 2004 and by the Pension Protection Act of 2006 (PPA), provide that the interest rates used to cal- culate current liability and to determine the required contribution under § 412(l) for plan years beginning in 2004 through 2007 must be within a permissible range 2011–26 I.R.B.927June 27, 2011 based on the weighted average of the rates of interest on amounts invested conser- vatively in long term investment grade corporate bonds during the 4-year period ending on the last day before the beginning of the plan year. Notice 2004–34, 2004–1 C.B. 848, pro- vides guidelines for determining the cor- porate bond weighted average interest rate and the resulting permissible range of in- terest rates used to calculate current liabil- ity. That notice establishes that the corpo- rate bond weighted average is based on the monthly composite corporate bond rate de- rived from designated corporate bond in- dices. The methodology for determining the monthly composite corporate bond rate as set forth in Notice 2004–34 continues to apply in determining that rate. See Notice 2006–75, 2006–2 C.B. 366. The composite corporate bond rate for May 2011 is 5.37 percent. Pursuant to No- tice 2004–34, the Service has determined this rate as the average of the monthly yields for the included corporate bond in- dices for that month. The following corporate bond weighted average interest rate was determined for plan years beginning in the month shown below. For Plan Years Beginning inPermissible Range MonthYear Corporate Bond Weighted Average90%to100% June20116.00 5.40 6.00 YIELD CURVE AND SEGMENT RATES Generally for plan years beginning after 2007 (except for delayed effective dates for certain plans under sections 104, 105, and 106 of PPA), § 430 of the Code specifies the minimum funding require- ments that apply to single employer plans pursuant to § 412. Section 430(h)(2) spec- ifies the interest rates that must be used to determine a plan’s target normal cost and funding target. Under this provision, present value is generally determined us- ing three 24-month average interest rates (“segment rates”), each of which applies to cash flows during specified periods. However, an election may be made under § 430(h)(2)(D)(ii) to use the monthly yield curve in place of the segment rates. Sec- tion 430(h)(2)G) set forth a transitional rule applicable to plan years beginning in 2008 and 2009 under which the segment rates were blended with the corporate bond weighted average described above, includ- ing an election under § 430(h)(2)(G)(iv) foranemployertousethesegmentrates without the transitional rule. Notice 2007–81, 2007–2 C.B. 899, provides guidelines for determining the monthly corporate bond yield curve, the 24-month average corporate bond segment rates, and the funding transitional segment rates used to compute the target normal cost and the funding target. Pursuant to Notice 2007–81, the monthly corporate bond yield curve derived from May 2011 data is in Table I at the end of this notice. The spot first, second, and third segment rates for the month of May 2011 are, re- spectively, 1.72, 5.00, and 6.21. The three 24-month average corporate bond seg- ment rates applicable for June 2011 under the election of § 430(h)(2)(G)(iv) are as follows: First Segment Second Segment Third Segment 2.27 5.43 6.34 The transitional rule of § 430(h)(2)(G) does not apply to plan years beginning af- ter December 31, 2009. Therefore, for a plan year beginning after 2009 with a look- back month to June 2011, the funding seg- ment rates are the three 24-month average corporate bond segment rates applicable for June 2011, listed above without blend- ing for any transitional period. 30-YEAR TREASURY SECURITIES INTEREST RATES Section 417(e)(3)(A)(ii)(II) (prior to amendment by PPA) defines the appli- cable interest rate, which must be used for purposes of determining the minimum present value of a participant’s benefit under § 417(e)(1) and (2), as the annual rate of interest on 30-year Treasury se- curities for the month before the date of distribution or such other time as the Secretary may by regulations prescribe. Section 1.417(e)–1(d)(3) of the Income Tax Regulations provides that the applica- bleinterestrateforamonthistheannual rate of interest on 30-year Treasury secu- rities as specified by the Commissioner for that month in revenue rulings, notices or other guidance published in the Internal Revenue Bulletin. The rate of interest on 30-year Treasury securities for May 2011 is 4.29 percent. The Service has determined this rate as the average of the yield on the 30-year Trea- sury bond maturing in February 2041 de- termined each day through May 11, 2011, and the yield on the 30-year Treasury bond maturing in May 2041 determined each day for the balance of the month. Generally for plan years beginning after 2007, § 431 specifies the mini- mum funding requirements that apply to multiemployer plans pursuant to § 412. Section 431(c)(6)(B) specifies a minimum amount for the full-funding limitation described in section 431(c)(6)(A), based on the plan’s current liability. Section 431(c)(6)(E)(ii)(I) provides that the inter- est rate used to calculate current liability for this purpose must be no more than 5 percent above and no more than 10 percent below the weighted average of the rates of interest on 30-year Treasury securities dur- ing the four-year period ending on the last day before the beginning of the plan year. Notice 88–73, 1988–2 C.B. 383, provides June 27, 20119282011–26 I.R.B. guidelines for determining the weighted average interest rate. The following rates were determined for plan years beginning in the month shown below. For Plan Years Beginning inPermissible Ra nge MonthYear 30-Year Treasury Weighted Average 90%to 105% June20114.28 3.85 4.49 MINIMUM PRESENT VALUE SEGMENT RATES Generally for plan years beginning af- ter December 31, 2007, the applicable in- terest rates under § 417(e)(3)(D) are seg- ment rates computed without regard to a 24-month average. For plan years begin- ning in 2008 through 2011, the applica- ble interest rates are the monthly spot seg- ment rates blended with the applicable rate under § 417(e)(3)(A)(ii)(II) as in effect for plan years beginning in 2007. Notice 2007–81 provides guidelines for determin- ing the minimum present value segment rates. Pursuant to that notice, the min- imum present value transitional segment rates determined for May 2011, taking into account the May 2011 30-year Treasury rate of 4.29 stated above, are as follows: For Plan Years Beginning in First Segment Second Segment Third Segment 2010 2.75 4.72 5.44 20112.234.86 5.83 DRAFTING INF ORMATION The principa l author of this notice is Tony Montana ro of the Employee Plans, Tax Exempt an d Government Entities Di- vision. Mr. M ontanaro may be e-mailed at Retirement PlanQuestions@irs.gov. 2011–26 I.R.B.929June 27, 2011 Table I Monthly Yield Curve for May 2011 Derived from May 2011 Data Maturity YieldMaturity YieldMaturity YieldMaturity YieldMaturity Yield 0.5 0.43 20.55.8140.5 6.26 60.5 6.41 80.5 6.49 1.00.6721.0 5.83 41.06.2661.06.4181.0 6.49 1.5 0.93 21.55.8541.56.2761.56.4281.5 6.49 2.01.2222.0 5.87 42.06.2762.06.4282.06.49 2.51.5322.5 5.89 42.5 6.28 62.5 6.42 82.5 6.49 3.01.8623.05.9143.06.2863.06.4283.0 6.50 3.5 2.19 23.5 5.92 43.5 6.29 63.5 6.43 83.56.50 4.0 2.50 24.05.9444.0 6.29 64.06.4384.0 6.50 4.52.8024.55.9544.56.3064.56.4384.56.50 5.0 3.07 25.0 5.97 45.0 6.30 65.0 6.43 85.06.50 5.5 3.32 25.5 5.98 45.5 6.31 65.5 6.44 85.56.50 6.0 3.55 26.06.0046.06.3166.06.4486.0 6.50 6.53.7526.5 6.01 46.5 6.32 66.5 6.44 86.56.51 7.0 3.94 27.06.0247.06.3267.06.4487.0 6.51 7.54.1127.56.0447.56.3367.56.4487.56.51 8.04.2628.0 6.05 48.06.3368.0 6.45 88.0 6.51 8.5 4.41 28.5 6.06 48.5 6.33 68.56.4588.56.51 9.0 4.54 29.0 6.07 49.0 6.34 69.0 6.45 89.0 6.51 9.5 4.65 29.56.0849.56.3469.5 6.45 89.5 6.51 10.04.7630.0 6.09 50.06.35 70.0 6.45 90.0 6.51 10.54.8630.56.1050.56.3570.56.4690.56.51 11.04.9631.06.11 51.06.35 71.06.4691.0 6.52 11.55.0431.5 6.12 51.5 6.36 71.5 6.4691.5 6.52 12.0 5.12 32.06.13 52.0 6.3672.06.46 92.0 6.52 12.5 5.19 32.5 6.14 52.5 6.36 72.5 6.4692.5 6.52 13.0 5.25 33.0 6.1553.0 6.3773.06.46 93.0 6.52 13.55.3133.56.1653.56.3773.56.4793.56.52 14.0 5.37 34.06.17 54.0 6.3774.06.4794.0 6.52 14.55.4234.5 6.18 54.5 6.38 74.5 6.4794.5 6.52 15.05.4735.0 6.18 55.0 6.38 75.0 6.4795.0 6.52 15.55.5135.5 6.19 55.5 6.38 75.5 6.4795.5 6.53 16.0 5.55 36.06.20 56.0 6.39 76.06.48 96.0 6.53 16.55.5936.56.2156.5 6.39 76.56.4896.56.53 17.0 5.62 37.06.21 57.0 6.3977.06.4897.0 6.53 17.55.6537.5 6.22 57.5 6.40 77.5 6.4897.5 6.53 18.0 5.68 38.06.23 58.0 6.4078.06.48 98.0 6.53 18.55.7138.5 6.23 58.5 6.40 78.5 6.4898.5 6.53 19.0 5.74 39.0 6.2459.06.40 79.0 6.48 99.0 6.53 19.55.7639.56.2559.56.4179.5 6.49 99.56.53 20.05.7940.0 6.25 60.06.4180.06.49100.0 6.53 June 27, 20119302011–26 I.R.B. 26 CFR 601.601: Rules and regulations. (Also Part I, §§ 25, 103, 143; 1.25–4T, 1.103–1, 6a.103A–2.) Rev. Proc. 2011–37 SECTION 1. PURPOSE This revenue procedure provides guid- ance with respect to the United States and area median gross income figures that are to be used by issuers of qualified mortgage bonds, as defined in § 143(a) of the Inter- nal Revenue Code, and issuers of mortgage credit certificates, as defined in § 25(c), in computing the housing cost/income ratio described in § 143(f)(5). SECTION 2. BACKGROUND .01 Section 103(a) provides that, ex- cept as provided in § 103(b), gross income does not include interest on any state or local bond. Section 103(b)(1) provides that § 103(a) shall not apply to any pri- vate activity bond that is not a qualified bond (within the meaning of § 141). Sec- tion 141(e) provides that the term “qual- ified bond” includes any private activity bond that (1) is a qualified mortgage bond, (2) meets the applicable volume cap re- quirements under § 146, and (3) meets the applicable requirements under § 147. .02 Section 143(a)(1) provides that the term “qualified mortgage bond” means a bond that is issued as part of a “qualified mortgage issue”. Section 143(a)(2)(A) provides that the term “qualified mort- gage issue” means an issue of one or more bonds by a state or political subdivision thereof, but only if (i) all proceeds of the issue (exclusive of issuance costs and a reasonably required reserve) are to be used to finance owner-occupied residences; (ii) the issue meets the requirements of sub- sections (c), (d), (e), (f), (g), (h), (i), and (m)(7) of § 143; (iii) the issue does not meet the private business tests of para- graphs(1)and(2)of§141(b);and(iv) with respect to amounts received more than 10 years after the date of issuance, repayments of $250,000 or more of prin- cipal on financing provided by the issue are used not later than the close of the first semi-annual period beginning after the date the prepayment (or complete repay- ment) is received to redeem bonds that are part of the issue. .03 Section 143(f) imposes eligibility requirements concerning the maximum income of mortgagors for whom financing may be provided by qualified mortgage bonds. Section 25(c)(2)(A)(iii)(IV) pro- vides that recipients of mortgage credit certificates must meet the income re- quirements of § 143(f). Generally, under §§ 143(f)(1) and 25(c)(2)(A)(iii)(IV), these income requirements are met only if all owner-financing under a qualified mortgage bond and all certified indebt- edness amounts under a mortgage credit certificate program are provided to mort- gagors whose family income is 115 percent or less of the applicable median family income. Under § 143(f)(6), the income limitation is reduced to 100 percent of the applicable median family income if there are fewer than three individuals in the family of the mortgagor. .04 Section 143(f)(4) provides that the term “applicable median family income” means the greater of (A) the area median gross income for the area in which the res- idence is located, or (B) the statewide me- dian gross income for the state in which the residence is located. .05 Section 143(f)(5) provides for an upward adjustment of the income limita- tions in certain high housing cost areas. Under § 143(f)(5)(C), a high housing cost area is a statistical area for which the housing cost/income ratio is greater than 1.2. The housing cost/income ratio is determined under § 143(f)(5)(D) by dividing (a) the applicable housing price ratio by (b) the ratio that the area median gross income bears to the median gross income for the United States. The applica- ble housing price ratio is the new housing price ratio (new housing average purchase price for the area divided by the new hous- ing average purchase price for the United States) or the existinghousing price ratio (existing housing average area purchase price divided by the existing housing aver- age purchase price for the United States), whichever results in the housing cost/in- come ratio being closer to 1. This income adjustment applies only to bonds issued, and nonissued bond amounts elected, after December 31, 1988.See§ 4005(h) of the Technical and Miscellaneous Revenue Act of 1988, 1988–3 C.B. 1, 311 (1988). .06 The Department of Housing and Urban Development (HUD) has computed the median gross income for the United States, the states, and statistical areas within the states. The income information was released to the HUD regional offices on May 31, 2011, and may be obtained by calling the HUD reference service at 1–800–245–2691. The income information is also available at HUD’s World Wide Web site, http://www.huduser.org/portal/datasets/il.html, which provides a menu from which you may select the year and type of data of interest. The Internal Revenue Service annually publishes the median gross income for the United States. .07 The most recent nationwide aver- age purchase prices and average area pur- chase price safe harbor limitations were published on April 11, 2011, in Rev. Proc. 2011–23, 2011–15 I.R.B. 626. SECTION 3. APPLICATION .01 When computing the income re- quirements of § 143(f), issuers of quali- fied mortgage bonds and mortgage credit certificates must use either (1) the me- dian gross income for the United States, the states, and statistical areas within the states, as released to the HUD regional offices on May 14, 2010, or (2) the me- dian gross income for the United States, the states, and statistical areas within the states, as released to the HUD regional of- fices on May 31, 2011. .02 If an issuer uses the median gross income for the United States, the states, and statistical areas within the states, as released to the HUD regional offices on May 14, 2010, to compute the housing cost/income ratio under § 143(f)(5), the issuer must use the median gross income for the United States, the states, and statistical areas within the states, as released to the HUD regional offices on May 14, 2010, for all purposes under § 143(f). Likewise, if an issuer uses the median gross income for the United States, the states, and statistical areas within the states, as released to the HUD regional offices on May 31, 2011, to compute the housing cost/income ratio under § 143(f)(5), the issuer must use the median gross income for the United States, the states, and statistical areas within the states, as released to the HUD regional offices on May 31, 2011, for all purposes under § 143(f). 2011–26 I.R.B.931June 27, 2011 SECTION 4. EFFECT ON OTHER REVENUE PROCEDURES .01 Rev. Proc. 2010–23, 2010–24 I.R.B. 762, is obsolete except as provided in §§ 3.01, 3.02, or 5.01 of this revenue procedure. .02 This revenue procedure does not af- fect the effective date provisions of Rev. Rul. 86–124, 1986–2 C.B. 27. Those ef- fective date provisions will remain opera- tive at least until the Service publishes a new revenue ruling that conforms the ap- proach to effective dates set forth in Rev. Rul. 86–124 to the general approach taken in this revenue procedure. SECTION 5. EFFECTIVE DATES .01 Issuers must use the United States and area median gross income figures specified in § 3.01 of this revenue proce- dure for commitments to provide financing that are made, or (if the purchase precedes the financing commitment) for residences that are purchased, in the period that be- gins on May 31, 2011, and ends on the date when these United States and area median gross income figures are rendered obsolete by a new revenue procedure. DRAFTING INFORMATION The principal authors of this rev- enue procedure are David White and Timothy Jones of the Office of Associate Chief Counsel (Financial Institutions & Products). For further information regarding this revenue procedure, contact Mr. White or Mr. Jones at (202) 622–3980 (not a toll-free call). June 27, 20119322011–26 I.R.B. Part IV. Items o fGeneralInterest Foundations S tatus of Certain Organization s Announcemen t 2011–33 The follow ing organizations have failed to establi sh or have been unable to main- tain their status as public charities or as op- erating fo undations. Accordingly, grantors and contr ibutors may not, after this date, rely on pr evious rulings or designations in the Cum ulative List of Organizations (Publica tion 78), or on the presumption arising f rom the filing of notices under sec- tion 508 (b) of the Code. This listing does notindi cate that the organizations have lost their st atus as organizations described in section 501(c)(3), eligible to receive de- ductibl e contributions. Former P ublic Charities. The follow- ing org anizations (which have been treated as orga nizations that are not private foun- dation s described in section 509(a) of the Code) a re now classified as private foun- dation s: Accio n Latina, Inc., Alexandria, VA Amazi ng Grace Help, Inc., Columbus, MS Endor se Peace Foundation, Bever ly Hills, CA Frien ds of Creative Kids, Inc., Houst on, TX Incre dible Dreams Childcare and Learning Cente r, Inc., Munster, IN Lotus Fund, Santa Monica, CA Myanm ar Youth Association, Inc., North Bergen, NJ North east Regional Forest Foundation, Bratt leboro, VT Rib La ke Community Development Found ation, Inc., Rib Lake, WI Total Community Development Corpo ration, Montgomery, AL Urban Hope International, Inc., Stock ton, CA Woodl eaf Endowment Foundation, Inc., Yuba C ity, CA If an organization listed above submits info rmation that warrants the renewal of its classification as a public charity or as apr ivate operating foundation, the Inter- nal Revenue Service will issue a ruling or det ermination letter with the revised clas- sif ication as to foundation status. Grantors an d contributors may thereafter rely upon such ruling or determination letter as pro- videdinsecti on 1.509(a)–7 of the Income Tax Regulatio ns. It is not the practice of the Service to announce such revised clas- sification of foundation status in the Inter- nal Revenue B ulletin. 2011 Form 990 – Issues for Public Comment Announcement 2011–36 PURPOSE This announcement invites public com- ments on transitional issues and frequently asked questions involving the redesigned Form 990. BACKGROUND The IRS extensively redesigned Form 990,Return of Organization Exempt from Income Tax, for tax year 2008 to promote tax compliance and increase transparency. The redesign was a collaborative process based on the over 800 formal public com- ments on drafts of the 2008 Form 990, schedules, and instructions. The major reconstruction of the Form is complete, but the IRS continues to re- fine the Form in response to questions and comments from the public. We have made many revisions to the 2009 and 2010 Forms 990, schedules, and instructions, mostly corrections and clarifications to make the Form easier to understand and complete, and plan to make further revi- sions. As the second filing season for the redesigned Form nears completion, the IRS invites public input on the following issues. ISSUES FOR PUBLIC COMMENT 1. Activity codes. Part I II of the Form 990 includes spaces for re porting activity codes to charac- teriz e certain program service activities. The in structions ask filers to leave these spac es blank for tax year 2010, because the I RS has not decided which, if any, codi ng system would best facilitate re- sear ch on exempt organizations by the IRS and the public . All such coding systems that the IRS is familiar with, including the National T axonomy of Exempt En- tity (NTEE) co des, the North American Industry Clas sification System (NAICS) Business Act ivity Codes and the IRS’s internal act ivity codes, have significant limitations . In particular, these systems do not adequa tely reflect the wide range of program s ervice activities provided by tax-exem pt organizations. These sys- tems also la ck the consistency, flexibility, and real-ti me adaptability that would be needed to f acilitate complete and accurate reporting . In light of these limitations, the IRS is consideri ng removing the spaces in Part III for report ing activity codes. We request comments o n whether removal is prefer- able to the adoption of a coding system. 2. Report ing compensation to manageme nt companies and leasing companie s owned or controlled by director s, officers, trustees, or key employee s. In 1999, t heServiceaddedthefollow- ing inst ructiontotheForm990toaddress the prac tice of officers, directors, trustees, and/or k ey employees (ODTKEs) organiz- ing mana gement companies and other sep- arate le gal entities to avoid reporting of their c ompensation on the Form 990: If you pa y any other person, such as a manage ment services company, for the servic es provided by any of your offi- cers, d irectors, trustees, or key employ- ees, re port the compensation and other items a s if you had paid them directly. The ins truction generated controversy and much co mmentary. Some argued that these reporting requirements were burden- some, requiring the organization to obtain detai led information from third-party contr actors; others argued that the require- ments invaded the privacy of individuals who w ere not employees of the filing or- gani zation. In Announcement 2001–33, the I RS said it would not penalize an orga nization if it reported in the compen- sati on section of its Form 990 the name of a management company it paid for ser- vic es rather than the person who provided ser vices to the organization on behalf of tha t management company. 2011–26 I.R.B.933June 27, 2011 The redesigned 2008 Form 990 ex- panded upon Ann. 2001–33 by stating in the Part VII instructions that the filing or- ganization should not report a payment to a management company as a payment di- rectly to an ODTKE, even if that ODTKE owned or controlled the management company. Rather, the compensation to the management company would only be reported in Part VII, if at all, as compensa- tion to one of the organization’s five most highly compensated independent contrac- tors. The one exception to this rule is to report employees of a management com- pany as the organization’s own employees if they are common law employees of the organization under state law. (Also, if an ODTKE of the organization received compensation through a management company of which the ODTKE or a family member was a 35% owner, director, offi- cer, or key employee, then the transaction may need to be listed and explained in Schedule L, Part IV, including the amount of the payment to the management com- pany and the ODTKE’s relationship with the management company.) The Form 990 instructions also state that payments to leasing companies should be treated in the same way as payments to management companies. Some have expressed concern that this type of reporting allows organizations to shield compensation to highly-paid ex- ecutives from disclosure by paying those executives indirectly through management companies. Others have explained the dif- ficulty of determining whether a person is a common law employee under state law. In light of these concerns, the IRS re- quests further comments on how a filing organization’s payments to management companies and other third parties (e.g., leasing companies, affiliates of filing or- ganization, professional employer organi- zations) for an ODTKE’s services to the filing organization should be reported on the Form 990. For instance, should an or- ganization’s payments to another person or entity, such as a management company, for the services provided by any of the organi- zation’s ODTKEs be reported on the Form 990 as compensation by the filing organ- ization to the ODTKEs? Should the IRS retain its current instructions for reporting compensation in thisscenario? Should the IRS ask about such third party compensa- tion arrangements in a separate section of Part VII, to increase transparency? 3. Thresholds for reporting compensation to key employees, highest compensated employees, independent contractors, and former officers, directors, trustees, and key employees. Part VII of the Form 990 requires the organization to list: •all persons who served as its officers, directors, and trustees during the tax year; •its top 20 highest compensated “key employees” (not including officers and directors/trustees); that is, employees who had certain management respon- sibilities and received over $150,000 of reportable compensation from the organization and related organizations, in the aggregate; •itstop5highestcompensatedem- ployees (not including officers, direc- tors/trustees, and key employees) who received over $100,000 of reportable compensation from the organization and related organizations, in the ag- gregate; •any of its former officers, key employ- ees, or highest compensated employ- ees (who had served in such capaci- ties in the prior five years but not in the current tax year) who received over $100,000 of reportable compensation from the organization and related orga- nizations, in the aggregate; •any of its former directors or trustees (who had served in such capacities in the prior five years but not in the current tax year) who received over $10,000 of reportable compensation from the organization and related orga- nizations, in the aggregate, for services provided in the person’s capacity as director or trustee; and •its top 5 highest compensated indepen- dent contractors that the organization paid more than $100,000. These reporting thresholds became ef- fective for tax year 2008. Prior to 2008, the Form 990 compensation reporting thresh- old for independent contractors and high- est compensated employees was $50,000, rather than $100,000. Prior to 2008, the definition of key employee did not include any compensation threshold. Also prior to 2008, all former officers, directors, and trustees who received compensation dur- ing the tax year were reportable, regardless of their level of compensation. Some have expressed concern that these increased thresholds decrease trans- parency, and prevent reporting of some persons who receive unreasonable com- pensation. Others have suggested that a single, uniform reporting threshold be adopted. The IRS requests comment on whether some or all of these Form 990 compensation reporting thresholds should be lowered, raised, or retained as is. 4. Reporting revenue from governmental units. The instructions for Form 990, Part VIII distinguish between reporting of contribu- tions and program service revenue from governmental units. A payment from a governmental unit should be reported as a contribution on Part VIII, line 1e (gov- ernment grants (contributions)) if its pri- mary purpose is to enable the organization to provide a service to or maintain a fa- cility for the direct benefit of the public, rather than to serve the direct and imme- diate needs of the governmental unit. A payment from a governmental unit should be reported as program service revenue on Part VIII, line 2 if it represents a pay- ment for a service, facility, or product that primarily gives some economic or physi- cal benefit to that governmental unit. The instructions provide various examples of how such payments should be character- ized and reported. Some have expressed concern that the Form 990 does not provide for sufficient transparency in reporting of revenue from governmental units because much of this revenue is included in program service revenue in line 2, rather than as “Gov- ernment grants” in line 1e. Accordingly, the IRS requests further comments on whether and how it should change report- ing requirements in this area. For instance, should Part VIII, line 2 be revised to item- ize certain government payments, such as Medicaid and Medicare payments? ShouldPartVIII,line1eand/orthein- structions for that line be revised to clarify that government contributions may in- clude grants made pursuant to government contracts? June 27, 20119342011–26 I.R.B. 5.Netassetreconciliation. The 2007 Form 990 included a “Net Assets” section that required filers to rec- oncile discrepancies between net assets or fund balances from the prior to current tax year. This section was removed from the redesigned 2008 Form 990, but an ex- panded section for net asset reconcilia- tion was included in the new Schedule D, Supplemental Financial Statements,which most but not all Form 990 filers are re- quired to complete. In response to many requests to include a net asset reconciliation section in the Core Form, the IRS has added a new Part XI, Net Asset Reconciliation, to the 2010 Form 990. Subsequently, some have com- mented that Schedule D, Part XI is now re- dundant. The IRS requests comments on whether the Net Asset Reconciliation section in Schedule D, Part XI is still needed and, if so, how it should be revised to avoid or minimize redundancy. 6. Reportingonauditedfinancial statements. Form 990, Part XII, line 2 requires orga- nizations to report whether their financial statements were compiled, reviewed, or audited by an independent accountant, and whether those financial statements wereis- suedon a separate or consolidated basis. Suggestions have been made that Part XII should require additional reporting on audited financial statements. For instance, some have suggested that Form 990 fil- ers should report whether their financial statements wereauditedon a separate ba- sis by an independent accountant. Oth- ers have suggested that a Form 990 filer should report whether its auditor issued a qualified opinion, an unqualified opinion, an adverse opinion, or a disclaimer of opin- ion regarding the organization’s financial statements, and to explain in Schedule O if such opinion was qualified, adverse, or a disclaimer. The IRS requests comment on whether this additional reporting should be required. 7. Names and EINs of foreign grantees. The redesigned Form 990 includes a Schedule F,Statement of Activities Outside the United States. Part II of this Sched- ule,Grants and Other Assistance to Or- ganizations or Entities Outside the United States, includes a column (a) for reporting the name of each grantee organization and a column (b) for reporting of the employer identification number (EIN) and IRS code section (if applicable) of each grantee. In response to public comment that disclo- sure of such information could jeopardize the confidentiality of sensitive foreign op- erations and the safety of such grantees, the IRS retained but shaded out these two columns so they could not be completed for tax years 2008-2010. The IRS invites comment on whether these two columns should be unshaded or, alternatively, deleted entirely from Part II, and the rationale for taking such action. 8. Indirect foreign expenditures. When the IRS released the instructions for Schedule F, some commented that it would not be possible for their organi- zations to report certain foreign expendi- tures on Schedule F, because they lacked accounting systems that trackedindirect foreign expenditures (e.g., the expenses of listing a “study abroad” program in a school’s website or paper catalog). For tax years 2008-2010, the IRS has allowed or- ganizations not to report such indirect ex- penditures on Schedule F if the organiza- tions do not separately track them. The IRS requests comment on whether this instruction should be revised now that Form 990 filers have had several years to develop procedures and adopt systems to separately track indirect foreign expendi- tures. Particularly, should the IRS require that all Schedule F filers account for and report indirect foreign expenditures in Part I, line 3, column (f)? 9. Reporting bank deposits as loans or business transactions on Schedule L. In its list of Frequently Asked Ques- tions on Form 990, Schedule L,Trans- actions with Interested Persons,theIRS states that, for tax years 2008-2010, deposits into and withdrawals from a bank account do not constitute “pay- ments” or “business transactions” that need to be reported in Schedule L, Part IV, nor do such deposits constitute “loans” that need to be reported in Schedule L, Part II. Seehttp://www.irs.gov/charities/ article/0,,id=215126,00.html.TheIRS requests comment on the pros and cons of requiring reporting of such deposits and withdrawals as business transactions in Schedule L, Part IV, or reporting deposits as loans in Schedule L, Part II. 10. Reporting of component parts of community trusts on Form 990-series returns. Under Regulation §1.170A–9(T)(f)(11), any separately organized trust, not-for-profit corporation, or association that meets certain requirements may be treated as a component part of a community trust, and that trust may be treated as a single entity rather than as an aggregation of separate funds, for purposes of sections 170, 501, 507, 508, 509, and Chapter 42 of the Code. One benefit of an organization being treated as a component part of a community trust is that the organization is not required to independently meet the public support requirements for public charity status. The IRS has not required separately organized component parts of commu- nity trusts to file separate Forms 990. Schedule A(Public Charity Status),Part I, line 8 asks a filing organization that is a “community trust described in section 170(b)(1)(A)(vi)” to check the box and complete Schedule A, Part II to establish its public support status. Otherwise, Form 990 and Form 990–EZ do not ask any specific questions about community trusts or their component parts. The IRS requests comments on whether separately organized component parts of community trusts should file separate Form 990-series returns or, if not, how to increase transparency in reporting by community trusts and their component parts. In particular, what, if any, types of information regarding component parts of community trusts should be reported on a component part-by-component part basis rather than on an aggregate basis on Form 990-series returns? For instance, should reporting be required for each component part’s employer identification number (if any), trustees’ names and relationships to the trust (e.g., donor, disqualified per- son, commercial trustee), compensation to trustees, annual income, annual expenses, total assets, closely held business inter- ests, real estate holdings, and/or charitable distributions? 2011–26 I.R.B.935June 27, 2011 11. Scope of related organization reporting on Schedule R. The Form 990 requires reporting of re- lated organizations on Schedule R. This re- porting provides the IRS and the public with a more complete picture of the or- ganization’s structure and controlling re- lationships. For purposes of Form 990, “related organization” means an organiza- tion that controls or is controlled by the fil- ing organization, is controlled by the same person or persons who control the filing organization, is a 509(a)(3) supporting or supported organization of the filing organi- zation, or is a sponsoring organization of or contributing employer to a filing organiza- tion that is exempt under section 501(c)(9) as a voluntary employees’ beneficiary as- sociation (VEBA). Schedule R contains exceptions for reporting of certain related organizations (e.g., certain bank trustees, subordinate organizations of a group ex- emption included in the central organiza- tion’s group return). Some have expressed concern that Schedule R requires reporting that, in some cases, is overly burdensome (e.g., reporting of religious organizations and churches in a religious denomination or association, affiliates in a hospital system, chapters of a national organization) and/or compromises the confidentiality of the related organizations and/or their employ- ees (e.g., reporting of foreign affiliates, charitable remainder trusts, contributing employers of VEBAs), and have asked that such organizations be excepted from reporting in Schedule R. The IRS requests comment on the pros and cons of adopting these or similar Schedule R exceptions. REQUEST FOR COMMENTS The IRS requests comments on the is- sues described above. Comments should be submitted in writing on or before Au- gust 1, 2011. Please include “Announce- ment 2011–36” on the cover page. Com- ments should be sent to the following ad- dress: Internal Revenue Service Attn: Stephen Clarke (Announcement 2011–36) SE:T:EO (3C1) 1111 Constitution Avenue, N.W. Washington, DC 20224 Submissions may be hand delivered Monday through Friday between the hours of 8 a.m. and 4 p.m. to: Internal Revenue Service Courier’s Desk 1111 Constitution Ave., N.W. Washington, DC 20224 Attn: Stephen Clarke (Announcement 2011–36) SE:T:EO (3C1) Submissions may also be sent electron- ically to the following e-mail address: Form990Revision@IRS.gov Please include “Announcement 2011–36” in the subject line. All comments will be available for pub- lic inspection and copying. DRAFTING INFORMATION The principal author of this an- nouncement is Stephen Clarke of the Exempt Organizations, Tax Exempt and Government Entities Division. For further information regarding this announcement, contact Mr. Clarke at (202) 283–9474 (not a toll-free call). June 27, 20119362011–26 I.R.B. Definition of Terms Revenue rulings and revenue procedures (hereinafter referred to as “rulings”) that have an effect on previous rulings use the following defined terms to describe the ef- fect: Amplifieddescribes a situation where no change is being made in a prior pub- lished position, but the prior position is be- ingextendedtoapplytoavariationofthe fact situation set forth therein. Thus, if an earlier ruling held that a principle ap- plied to A, and the new ruling holds that the same principle also applies to B, the earlier ruling is amplified. (Compare withmodi- fied,below). Clarifiedis used in those instances where the language in a prior ruling is be- ing made clear because the language has caused, or may cause, some confusion. It is not used where a position in a prior ruling is being changed. Distinguisheddescribes a situation where a ruling mentions a previously pub- lished ruling and points out an essential difference between them. Modifiedis used where the substance of a previously published position is being changed. Thus, if a prior ruling held that a principle applied to A but not to B, and the new ruling holds that it applies to both A and B, the prior ruling is modified because it corrects a published position. (Compare withamplifiedandclarified, above). Obsoleteddescribes a previously pub- lished ruling that is not considered deter- minative with respect to future transac- tions. This term is most commonly used in a ruling that lists previously published rul- ings that are obsoleted because of changes in laws or regulations. A ruling may also be obsoleted because the substance has been included in regulations subsequently adopted. Revokeddescribes situations where the position in the previously published ruling is not correct and the correct position is beingstatedinanewruling. Supersededdescribes a situation where the new ruling does nothing more than re- state the substance and situation of a previ- ously published ruling (or rulings). Thus, the term is used to republish under the 1986 Code and regulations the same po- sition published under the 1939 Code and regulations. The term is also used when it is desired to republish in a single rul- ing a series of situations, names, etc., that were previously published over a period of time in separate rulings. If the new rul- ing does more than restate the substance of a prior ruling, a combination of terms is used. For example,modifiedandsu- persededdescribes a situation where the substance of a previously published ruling is being changed in part and is continued without change in part and it is desired to restate the valid portion of the previously published ruling in a new ruling that is self contained. In this case, the previously pub- lished ruling is first modified and then, as modified, is superseded. Supplementedis used in situations in which a list, such as a list of the names of countries, is published in a ruling and that list is expanded by adding further names in subsequent rulings. After the original rul- ing has been supplemented several times, a new ruling may be published that includes the list in the original ruling and the ad- ditions, and supersedes all prior rulings in the series. Suspendedis used in rare situations to show that the previous published rulings will not be applied pending some future action such as the issuance of new or amended regulations, the outcome of cases in litigation, or the outcome of a Service study. Abbreviations The fol lowing abbreviations in current use and for merly used will appear in material publis hedintheBulletin. A—Individual. Acq.—A cquiescence. B—Individual. BE—Beneficiary. BK—Bank . B.T.A.—Board of Tax Appeals. C—Individual. C.B.—Cu mulative Bulletin. CFR—Code of Federal Regulations. CI—City. COOP—Coo perative. Ct.D.—Court Decision. CY—County. D—Decede nt. DC—Dummy Corporation. DE—Donee. Del. Order —Delegation Order. DISC—Domestic International Sales Corporation. DR—Donor. E—Estate. EE—Employee. E.O.—Executive Order. ER—Emp loyer. ERISA—Employee Retirement Income Security Act. EX—Executor. F—Fiduc iary. FC—Foreign Country. FICA—Federal Insurance Contributions Act. FISC—Fo reign International Sales Company. FPH—Foreign Personal Holding Company. F.R.—Federal Register. FUTA—Fed eral Unemployment Tax Act. FX—Foreign corporation. G.C.M.—Chief Counsel’s Memorandum. GE—Grante e. GP—General Partner. GR—Grantor. IC—Insura nce Company. I.R.B.—Internal Revenue Bulletin. LE—Lessee. LP—Limited Partner. LR—Lessor. M—Minor. Nonacq.—No nacquiescence. O—Organization. P—Parent Corporation. PHC—Persona l Holding Company. PO—Possession of the U.S. PR—Partner. PRS—Pa rtnership. PTE—Prohibited Transaction Exemption. Pub. L.—Public Law. REIT—Re al Estate Investment Trust. Rev. Proc.—Revenue Procedure. Rev. Rul.—Revenue Ruling. S—Subsi diary. S.P.R.—Statement of Procedural Rules. Stat.—Statutes at Large. T—Target Corporation. T.C.—Tax Court. T.D.—Treasury Decision. TFE—Trans feree. TFR—Transferor. T.I.R.—Technical Information Release. TP—Taxpay er. TR—Trust. TT—Trustee. U.S.C.—Uni ted States Code. X—Corporation. Y—Corporation. Z—Corporat ion. 2011–26 I.R.B.iJune 27, 2011 Numerical Finding List 1 Bulletin 2011–1 through 2011–26 Announcements: 2011-1, 2011-2 I.R.B.304 2011-2, 2011-3 I.R.B.324 2011-3, 2011-3 I.R.B.324 2011-4, 2011-4 I.R.B.424 2011-5, 2011-4 I.R.B.430 2011-6, 2011-4 I.R.B.433 2011-7, 2011-5 I.R.B.446 2011-8, 2011-5 I.R.B.446 2011-9, 2011-7 I.R.B.499 2011-10, 2011-7 I.R.B.499 2011-11, 2011-7 I.R.B.500 2011-12, 2011-9 I.R.B.532 2011-13, 2011-8 I.R.B.525 2011-14, 2011-9 I.R.B.532 2011-15, 2011-8 I.R.B.526 2011-16, 2011-7 I.R.B.500 2011-17, 2011-9 I.R.B.532 2011-18, 2011-12 I.R.B.567 2011-19, 2011-11 I.R.B.553 2011-20, 2011-10 I.R.B.542 2011-21, 2011-12 I.R.B.567 2011-22, 2011-16 I.R.B.672 2011-23, 2011-12 I.R.B.568 2011-24, 2011-12 I.R.B.569 2011-25, 2011-14 I.R.B.608 2011-26, 2011-14 I.R.B.608 2011-27, 2011-15 I.R.B.651 2011-28, 2011-18 I.R.B.748 2011-29, 2011-18 I.R.B.748 2011-30, 2011-20 I.R.B.791 2011-31, 2011-22 I.R.B.836 2011-32, 2011-22 I.R.B.836 2011-33, 2011-26 I.R.B.933 2011-34, 2011-24 I.R.B.877 2011-35, 2011-25 I.R.B.916 2011-36, 2011-26 I.R.B.933 Notices: 2011-1, 2011-2 I.R.B.259 2011-2, 2011-2 I.R.B.260 2011-3, 2011-2 I.R.B.263 2011-4, 2011-2 I.R.B.282 2011-5, 2011-3 I.R.B.314 2011-6, 2011-3 I.R.B.315 2011-7, 2011-5 I.R.B.437 2011-8, 2011-8 I.R.B.503 2011-9, 2011-6 I.R.B.459 2011-10, 2011-6 I.R.B.463 2011-11, 2011-7 I.R.B.497 2011-12, 2011-8 I.R.B.514 2011-13, 2011-9 I.R.B.529 Notices— Continued: 2011-14, 2011-11 I.R.B.544 2011-15, 2011-10 I.R.B.539 2011-16, 2011-17 I.R.B.720 2011-17, 2011-10 I.R.B.540 2011-18, 2011-11 I.R.B.549 2011-19, 2011-11 I.R.B.550 2011-20, 2011-16 I.R.B.652 2011-21, 2011-19 I.R.B.761 2011-22, 2011-12 I.R.B.557 2011-23, 2011-13 I.R.B.588 2011-24, 2011-14 I.R.B.603 2011-25, 2011-14 I.R.B.604 2011-26, 2011-17 I.R.B.720 2011-27, 2011-17 I.R.B.723 2011-28, 2011-16 I.R.B.656 2011-29, 2011-16 I.R.B.663 2011-30, 2011-17 I.R.B.724 2011-31, 2011-17 I.R.B.724 2011-32, 2011-18 I.R.B.737 2011-33, 2011-19 I.R.B.761 2011-34, 2011-19 I.R.B.765 2011-35, 2011-25 I.R.B.879 2011-36, 2011-21 I.R.B.792 2011-37, 2011-20 I.R.B.785 2011-38, 2011-20 I.R.B.785 2011-39, 2011-20 I.R.B.786 2011-40, 2011-22 I.R.B.806 2011-41, 2011-21 I.R.B.798 2011-42, 2011-23 I.R.B.866 2011-43, 2011-25 I.R.B.882 2011-44, 2011-25 I.R.B.883 2011-45, 2011-25 I.R.B.886 2011-46, 2011-25 I.R.B.887 2011-48, 2011-26 I.R.B.927 2011-49, 2011-26 I.R.B.927 Proposed Regulations: REG-140108-08, 2011-13 I.R.B.591 REG-149335-08, 2011-6 I.R.B.468 REG-118761-09, 2011-21 I.R.B.803 REG-146097-09, 2011-8 I.R.B.516 REG-153338-09, 2011-14 I.R.B.606 REG-154159-09, 2011-19 I.R.B.777 REG-124018-10, 2011-2 I.R.B.301 REG-131151-10, 2011-8 I.R.B.519 REG-131947-10, 2011-8 I.R.B.521 REG-132724-10, 2011-7 I.R.B.498 REG-151687-10, 2011-23 I.R.B.867 Revenue Procedures: 2011-1, 2011-1 I.R.B.1 2011-2, 2011-1 I.R.B.90 2011-3, 2011-1 I.R.B.111 2011-4, 2011-1 I.R.B.123 2011-5, 2011-1 I.R.B.167 Revenue Procedures— Continued: 2011-6, 2011-1 I.R.B.195 2011-7, 2011-1 I.R.B.233 2011-8, 2011-1 I.R.B.237 2011-9, 2011-2 I.R.B.283 2011-10, 2011-2 I.R.B.294 2011-11, 2011-4 I.R.B.329 2011-12, 2011-2 I.R.B.297 2011-13, 2011-3 I.R.B.318 2011-14, 2011-4 I.R.B.330 2011-15, 2011-3 I.R.B.322 2011-16, 2011-5 I.R.B.440 2011-17, 2011-5 I.R.B.441 2011-18, 2011-5 I.R.B.443 2011-19, 2011-6 I.R.B.465 2011-20, 2011-11 I.R.B.551 2011-21, 2011-12 I.R.B.560 2011-22, 2011-18 I.R.B.737 2011-23, 2011-15 I.R.B.626 2011-24, 2011-20 I.R.B.787 2011-25, 2011-17 I.R.B.725 2011-26, 2011-16 I.R.B.664 2011-27, 2011-18 I.R.B.740 2011-28, 2011-18 I.R.B.743 2011-29, 2011-18 I.R.B.746 2011-30, 2011-21 I.R.B.802 2011-31, 2011-22 I.R.B.808 2011-32, 2010-22 I.R.B.835 2011-33, 2011-25 I.R.B.887 2011-34, 2011-24 I.R.B.875 2011-35, 2011-25 I.R.B.890 2011-36, 2011-25 I.R.B.915 2011-37, 2011-26 I.R.B.931 Revenue Rulings: 2011-1, 2011-2 I.R.B.251 2011-2, 2011-2 I.R.B.256 2011-3, 2011-4 I.R.B.326 2011-4, 2011-6 I.R.B.448 2011-5, 2011-13 I.R.B.577 2011-6, 2011-10 I.R.B.537 2011-7, 2011-10 I.R.B.534 2011-8, 2011-12 I.R.B.554 2011-9, 2011-12 I.R.B.554 2011-10, 2011-14 I.R.B.597 2011-11, 2011-19 I.R.B.758 2011-12, 2011-26 I.R.B.917 2011-13, 2011-23 I.R.B.841 Treasury Decisions: 9507, 2011-3 I.R.B.305 9508, 2011-7 I.R.B.495 9509, 2011-6 I.R.B.450 9510, 2011-6 I.R.B.453 9511, 2011-6 I.R.B.455 9512, 2011-7 I.R.B.473 1 A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2010–27 through 2010–52 is in Internal Revenue Bulletin 2010–52, dated December 27, 2010. June 27, 2011ii2011–26 I.R.B. Treasury Decisions— Continued: 9513, 2011-8 I.R.B.501 9514, 2011-9 I.R.B.527 9515, 2011-14 I.R.B.599 9516, 2011-13 I.R.B.575 9517, 2011-15 I.R.B.610 9518, 2011-17 I.R.B.710 9519, 2011-18 I.R.B.734 9520, 2011-18 I.R.B.730 9521, 2011-19 I.R.B.750 9522, 2011-20 I.R.B.780 9523, 2011-20 I.R.B.781 9524, 2011-23 I.R.B.843 9525, 2011-23 I.R.B.837 9526, 2011-24 I.R.B.869 2011–26 I.R.B.iiiJune 27, 2011 Finding List of Current Actions on Previously Published Items 1 Bulletin 2011–1 through 2011–26 Announcements: 85-88 Obsoleted by Rev. Proc. 2011-10, 2011-2 I.R.B.294 2008-11 Modified by Ann. 2011-6, 2011-4 I.R.B.433 2009-62 Obsoleted by Rev. Proc. 2011-10, 2011-2 I.R.B.294 Notices: 2006-87 Superseded by Notice 2011-8, 2011-8 I.R.B.503 2007-25 Superseded by Notice 2011-8, 2011-8 I.R.B.503 2007-77 Superseded by Notice 2011-8, 2011-8 I.R.B.503 2008-107 Superseded by Notice 2011-8, 2011-8 I.R.B.503 2009-4 Obsoleted by Rev. Proc. 2011-35, 2011-25 I.R.B.890 2009-23 Modified by Notice 2011-24, 2011-14 I.R.B.603 2009-24 Modified by Notice 2011-24, 2011-14 I.R.B.603 2009-83 Modified by Notice 2011-25, 2011-14 I.R.B.604 2009-93 Modified by Notice 2011-38, 2011-20 I.R.B.785 2010-27 Superseded by Notice 2011-8, 2011-8 I.R.B.503 2010-32 Modified and superseded by Notice 2011-37, 2011-20 I.R.B.785 Notices— Continued: 2010-59 Modified by Notice 2011-5, 2011-3 I.R.B.314 2010-60 Supplemented and superseded by Notice 2011-34, 2011-19 I.R.B.765 2010-71 Modified and superseded by Notice 2011-9, 2011-6 I.R.B.459 2010-79 Clarified and modified by Notice 2011-4, 2011-2 I.R.B.282 2011-9 Modified by Notice 2011-46, 2011-25 I.R.B.887 Proposed Regulations: REG-132554-08 Corrected by Ann. 2011-11, 2011-7 I.R.B.500 REG-149335-08 Hearing scheduled by Ann. 2011-26, 2011-14 I.R.B.608 REG-146097-09 Hearing rescheduled by Ann. 2011-30, 2011-20 I.R.B.791 Revenue Procedures: 72-50 Modified and superseded by Rev. Proc. 2011-10, 2011-2 I.R.B.294 76-34 Modified and superseded by Rev. Proc. 2011-10, 2011-2 I.R.B.294 81-70 Obsoleted by Rev. Proc. 2011-35, 2011-25 I.R.B.890 82-39 Modified and superseded by Rev. Proc. 2011-33, 2011-25 I.R.B.887 83-23 Modified and superseded by Rev. Proc. 2011-15, 2011-3 I.R.B.322 94-17 Modified and superseded by Rev. Proc. 2011-15, 2011-3 I.R.B.322 97-27 Clarified and modified by Rev. Proc. 2011-14, 2011-4 I.R.B.330 Revenue Procedures— Continued: 2001-10 Modified by Rev. Proc. 2011-14, 2011-4 I.R.B.330 2002-28 Modified by Rev. Proc. 2011-14, 2011-4 I.R.B.330 2003-21 Modified and superseded by Rev. Proc. 2011-15, 2011-3 I.R.B.322 2004-34 Modified by Rev. Proc. 2011-14, 2011-4 I.R.B.330 Modified and clarified by Rev. Proc. 2011-18, 2011-5 I.R.B.443 2006-44 Modified by Ann. 2011-6, 2011-4 I.R.B.433 2006-56 Modified by Rev. Proc. 2011-14, 2011-4 I.R.B.330 2008-52 Modified by Notice 2011-4, 2011-2 I.R.B.282 Rev. Proc. 2011-17, 2011-5 I.R.B.441 Superseded in part by Rev. Proc. 2011-14, 2011-4 I.R.B.330 2009-32 Modified and superseded by Rev. Proc. 2011-33, 2011-25 I.R.B.887 2009-39 Superseded in part by Rev. Proc. 2011-14, 2011-4 I.R.B.330 2009-44 Modified by Ann. 2011-6, 2011-4 I.R.B.433 2010-1 Superseded by Rev. Proc. 2011-1, 2011-1 I.R.B.1 2010-2 Superseded by Rev. Proc. 2011-2, 2011-1 I.R.B.90 2010-3 Superseded by Rev. Proc. 2011-3, 2011-1 I.R.B.111 2010-4 Superseded by Rev. Proc. 2011-4, 2011-1 I.R.B.123 2010-5 Superseded by Rev. Proc. 2011-5, 2011-1 I.R.B.167 1 A cumulative list of current actions on previously published items in Internal Revenue Bulletins 2010–27 through 2010–52 is in Internal Revenue Bulletin 2010–52, dated December 27, 2010. June 27, 2011iv2011–26 I.R.B. Revenue Procedures— Continued: 2010-6 Superseded by Rev. Proc. 2011-6, 2011-1 I.R.B.195 2010-7 Superseded by Rev. Proc. 2011-7, 2011-1 I.R.B.233 2010-8 Superseded by Rev. Proc. 2011-8, 2011-1 I.R.B.237 2010-9 Superseded by Rev. Proc. 2011-9, 2011-2 I.R.B.283 2010-15 Updated by Rev. Proc. 2011-13, 2011-3 I.R.B.318 2010-18 Amplified and modified by Rev. Proc. 2011-21, 2011-12 I.R.B.560 2010-23 Obsoleted in part by Rev. Proc. 2011-37, 2011-26 I.R.B.931 2010-25 Obsoleted in part by Rev. Proc. 2011-23, 2011-15 I.R.B.626 2011-1 Corrected by Ann. 2011-7, 2011-5 I.R.B.446 2011-8 Corrected by Ann. 2011-8, 2011-5 I.R.B.446 Modified by Rev. Proc. 2011-36, 2011-25 I.R.B.915 2011-11 Corrected by Ann. 2011-9, 2011-7 I.R.B.499 2011-14 Modified by Rev. Proc. 2011-27, 2011-18 I.R.B.740 Rev. Proc. 2011-28, 2011-18 I.R.B.743 Modified and amplified by Rev. Proc. 2011-22, 2011-18 I.R.B.737 2011-21 Amplified by Rev. Proc. 2011-26, 2011-16 I.R.B.664 2011-24 Modified by Notice 2011-46, 2011-25 I.R.B.887 Revenue Rulings: 81-100 Modified by Rev. Rul. 2011-1, 2011-2 I.R.B.251 Revenue Rulings— Continued: 2004-67 Modified by Rev. Rul. 2011-1, 2011-2 I.R.B.251 2008-40 Modified by Rev. Rul. 2011-1, 2011-2 I.R.B.251 2011-3 Corrected by Ann. 2011-16, 2011-7 I.R.B.500 Treasury Decisions: 9391 Corrected by Ann. 2011-12, 2011-9 I.R.B.532 9505 Corrected by Ann. 2011-10, 2011-7 I.R.B.499 2011–26 I.R.B.vJune 27, 2011 INDEX Internal Revenue Bulletin 2011–1 through 2011–26 The abbreviation and number in parenthesis following the index entry refer to the specific item; numbers in roman and italic type following the parenthesis refers to the Internal Revenue Bulletin in which the item may be found and the page number on which it appears. Key to Abbreviations: AnnAnnouncement CDCourt Decision DODelegation Order EOExecutive Order PLPublic Law PTEProhibited Transaction Exemption RPRevenue Procedure RRRevenue Ruling SPRStatement of Procedural Rules TCTax Convention TDTreasury Decision TDOTreasury Department Order EMPLOYEE PLANS 403(b) plans, plan termination (RR 7) 10,534 Affordable Care Act, nondiscrimination provisions applicable to insured group health plans (Notice 1) 2,259 Cash balance plans and other hybrid defined benefit pension plans, correction to TD 9505 (Ann 10) 7,499; correction to REG–132554–08 (Ann 11) 7,500 Determination letters, issuing procedures (RP 6) 1,195 Full funding limitations, weighted average interest rates, seg- ment rates for: January 2011 (Notice 7) 5,437 February 2011 (Notice 13) 9,529 March 2011 (Notice 22) 12,557 April 2011 (Notice 33) 19,761 May2011(Notice41)21,798 June 2011 (Notice 49) 26,927 Guidance under section 162(m)(6) (Notice 2) 2,260 Joint Board for the Enrollment of Actuaries, regulations govern- ing the performance of actuarial services (TD 9517) 15,610 Letter rulings: And determination letters, areas which will not be issued from: Associates Chief Counsel and Division Counsel (TE/GE) (RP 3) 1,111 Associate Chief Counsel (International) (RP 7) 1,233 And general information letters, procedures (RP 4) 1,123 User fees, request for letter rulings (RP 8) 1,237; correction (Ann 8) 5,446 Proposed Regulations: 26 CFR 1.411(b)(5)–1, revised;hybrid retirement plans; cor- rection to REG–132554–08 (Ann 11) 7,500 EMPLOYEE PLANS—Cont. Qualified plans: Covered compensation tables, permitted disparity (RR 3) 4, 326; correction (Ann 16) 7,500 Group trusts (RR 1) 2,251 Minimum funding requirements relief (Notice 3) 2,263 Readily tradable securities (Notice 19) 11,550 Reporting requirements, Form 8955–SSA (Ann 21) 12,567 Regulations: 20 CFR 901.0, .1, .10, .11, amended; 901.12, removed; 901.13, redesignated as 901.12 and amended; 901.20, .31, .32, .47, amended; 901.72, added; regulations governing the performance of actuarial services (TD 9517) 15,610 26 CFR 1.411(b)(5)–1, revised; hybrid retirement plans; cor- rection to TD 9505 (Ann 10) 7,499 Technical advice to IRS employees (RP 5) 1,167 EMPLOYMENT TAX Electronic Funds Transfer (EFT) of depository taxes (TD 9507) 3,305 Extension of withholding to certain payments made by govern- ment entities (TD 9524) 23,843 Fees on health insurance policies and self-insured plans, request for comments (Notice 35) 25,879 Interim guidance for cost of health care coverage reporting on Form W-2 (Notice 28) 16,656 Letter rulings and information letters issued by Associate Of- fices, determination letters issued by Operating Divisions (RP 1) 1,1;correction(Ann7)5,446 Proposed Regulations: 26 CFR 31.3402(t)–1, amended; withholding on payments by government entities to persons providing property or ser- vices (REG–151687–10) 23,867 26 CFR 301.7623–1, amended; rewards and awards for in- formation relating to violations of internal revenue laws (REG–131151–10) 8,519 Regulations: 26 CFR 1.1462–1, amended; 1.6302–1 thru –4, amended; 31.6071, amended; 31.6302–0 thru –2, –4, amended; 31.6302(c)–2A, removed; 31.6302(c)–3, amended; 40.6302(c)–1 thru –3, amended; 301.6302–1, amended; 301.6656–1, amended; 301.7502–2, removed; Electronic Funds Transfer (EFT) of depository taxes (TD 9507) 3,305 26 CFR 31.3402(t)–0 thru –7, added; 31.3406(g)–2, amended; 31.6011(a)–4, amended; 31.6051–5, added; 31.6071(a)–1, amended; 31.6302–1, –4, amended; extension of withhold- ing to certain payments made by government entities (TD 9524) 23,843 Rewards and awards for information relating to violations of in- ternal revenue laws (REG–131151–10) 8,519; hearing (Ann 28) 18,748 Technical Advice Memoranda (TAMs) (RP 2) 1,90 Withholding on payments by government entities to persons pro- viding property or services (REG–151687–10) 23,867 Withholding on wages of nonresident alien employees perform- ing services within the United States (Notice 12) 8,514 June 27, 2011vi2011–26 I.R.B. ESTATE TAX Instructions for persons answering questions relating to foreign financial accounts on 2010 federal income tax and information returns (Notice 31) 17,724 Letter rulings and information letters issued by Associate Of- fices, determination letters issued by Operating Divisions (RP 1) 1,1;correction(Ann7)5,446 Proposed Regulations: 26 CFR 301.7623–1, amended; rewards and awards for in- formation relating to violations of internal revenue laws (REG–131151–10) 8,519;hearing(Ann28)18,748 Rewards and awards for information relating to violations of in- ternal revenue laws (REG–131151–10) 8,519; hearing (Ann 28) 18,748 Technical Advice Memoranda (TAMs) (RP 2) 1,90 EXCISE TAX Biodiesel and alternative fuels, claims for 2010 (Notice 10) 6, 463 Brandedprescriptiondrugs Annual fee (Notice 9) 6,459 Deferral of dates related to the 2011 branded prescription drug fee (Notice 46) 25,887 Dispute resolution process for2011 preliminary fee calcula- tion (RP 24) 20,787 Electronic Funds Transfer (EFT) of depository taxes (TD 9507) 3,305 Fees on health insurance policies and self-insured plans, request for comments (Notice 35) 25,879 Letter rulings and information letters issued by Associate Of- fices, determination letters issued by Operating Divisions (RP 1) 1,1;correction(Ann7)5,446 Proposed Regulations: 26 CFR 301.7623–1, amended; rewards and awards for in- formation relating to violations of internal revenue laws (REG–131151–10) 8,519;hearing(Ann28)18,748 Regulations: 26 CFR 1.1462–1, amended; 1.6302–1 thru –4, amended; 31.6302–0 thru –2, –4, amended; 31.6071, amended; 31.6302(c)–2A, removed; 31.6302(c)–3, amended; 40.6302(c)–1 thru –3, amended; 301.6302–1, amended; 301.6656–1, amended; 301.7502–2, removed; Electronic Funds Transfer (EFT) of depository taxes (TD 9507) 3,305 Rewards and awards for information relating to violations of in- ternal revenue laws (REG–131151–10) 8,519; hearing (Ann 28) 18,748 Shared employed responsibility regarding health coverage, re- quest for comments (Notice 36) 21,792 Technical Advice Memoranda (TAMs) (RP 2) 1,90 EXEMPT ORGANIZATIONS Application for reinstatement for certain small organizations (Notice 44) 25,883 EXEMPT ORGANIZATIONS—Cont. Delayed filing season for certaintax-exempt hospitals (Ann 20) 10,542 Disclosure of information to stateofficials regarding tax-exempt organizations (REG–140108–08) 13,591 Electronic Funds Transfer (EFT) of depository taxes (TD 9507) 3,305 Filing thresholds for Form 990 (RP 15) 3,322 Form 990, comments on the redesign (Ann 36) 26,933 Letter rulings: And determination letters: Areas which will not be issued from Associates Chief Counsel and Division Counsel (TE/GE) (RP 3) 1,111 Exemption application determination letter rulings under sections 501, 509, 4940, and 4942 (RP 10) 2,294 Exemption application determination letter rulings under sections 501 and 521 (RP 9) 2,283 And general information letters, procedures (RP 4) 1,123 User fees, request for letter rulings (RP 8) 1,237; correction (Ann 8) 5,446 List of organizations classified as private foundations (Ann 3) 3, 324; (Ann 13) 8,525; (Ann 27) 15,651; (Ann 33) 26,933 Medicare Shared Savings Program (MSSP), participation through an ACO (Notice 20) 16,652 Modified user fee for small organizations (RP 36) 25,915 Notice requesting comments on section 501(c)(29) (Notice 23) 13,588 Proposed Regulations: 26 CFR 301.6104(c)–1, revised; disclosure of informa- tion to state officials regarding tax-exempt organizations (REG–140108–08) 13,591 Publication of the auto-revocation list (Ann 35) 25,916 Regulations: 26 CFR 1.1462–1, amended; 1.6302–1 thru –4, amended; 31.6071, amended; 31.6302–0 thru –2, –4, amended; 31.6302(c)–2A, removed; 31.6302(c)–3, amended; 40.6302(c)–1 thru –3, amended; 301.6302–1, amended; 301.6656–1, amended; 301.7502–2, removed; Electronic Funds Transfer (EFT) of depository taxes (TD 9507) 3,305 Reliance rules for contributions, update (RP 22) 12,737 Revocations (Ann 2) 3,324;(Ann15)8,526;(Ann17)9,532; (Ann 23) 12,568;(Ann25)14,608; (Ann 34) 24,877 Technical advice to IRS employees (RP 5) 1,167 Transitional relief for small organizations that have lost tax-ex- empt status (Notice 43) 25,882 Updated reliance rules for: Contributions (RP 22) 18,737 Contributors (RP 33) 25,887 GIFT TAX Letter rulings and information letters issued by Associate Of- fices, determination letters issued by Operating Divisions (RP 1) 1,1;correction(Ann7)5,446 2011–26 I.R.B.viiJune 27, 2011 GIFT TAX—Cont. Proposed Regulations: 26 CFR 301.7623–1, amended; rewards and awards for in- formation relating to violations of internal revenue laws (REG–131151–10) 8,519;hearing(Ann28)18,748 Rewards and awards for information relating to violations of in- ternal revenue laws (REG–131151–10) 8,519; hearing (Ann 28) 18,748 Technical Advice Memoranda (TAMs) (RP 2) 1,90 INCOME TAX Accounting methods, automatic consent for Blue Cross/Blue Shield and certain other health organizations to change method of accounting for unearned premiums (Notice 4) 2,282 Accrual of liabilities (RP 17) 5,441 Additional first year depreciation deduction (RP 26) 16,664 Administrative exemptions to the specified tax return preparer electronic filing requirementunder Code section 6011(e)(3) and corresponding regulation (Notice 26) 17,720 Advance Pricing Agreement (APA) Program, 2010 (Ann 22) 16, 672 Basis of stock acquired in transferred basis transactions (RP 35) 25,890 Bonds: National and area median gross income figures guidance for 2010 (RP 37) 26,931 Qualified Zone Academy Bond limitation for 2011 (RP 19) 6, 465 Capital assets, election for certain musical works (TD 9514) 9, 527 Capitalization of success-based fees, safe-harbor election (RP 22) 18,737 Capitalization safe harbor methods of accounting for wireless network assets (RP 28) 18,743 Capitalization safe harbor methods of accounting for wireline network assets (RP 27) 18,740 Clarification of controlled group qualification rules (TD 9522) 20,780 Controlled groups; deferral of losses; (REG–118761–09) 21,803 Corporations, certain triangular reorganizations involving for- eign corporations (TD 9526) 24,869 Correction to nonacquiescence inRobinson Knife Manufactur- ing Company and Subsidiaries v. Commissioner (Ann 32) 22, 836 Cost-of-living adjustments for inflation for 2011 (RP 12) 2,297 Credits: Carbon dioxide sequestration (Notice 25) 14,604 Foreign tax credit, Puerto Rican excise tax (Notice 29) 16,663 Low-income housing tax credit: 2011 population figures used for calculation (Notice 15) 10,539 Nonconventional source fuel credit, inflation adjustment fac- tor and phase-out amount for CY 2010 (Notice 30) 17,724 Qualifying advanced coal program and qualifying gasification programs, carbon dioxide sequestration (Notice 24) 14,603 INCOME TAX—Cont. Renewable electricity, refinedcoal, and Indian coal produc- tion credit, 2011 inflation adjustment (Notice 40) 22,806 Debt instruments: Deterioration in financial condition of issuer (TD 9513) 8,501 For publicly traded property, issue price (REG–131947–10) 8,521 Deductions for contributions toqualified nuclear decommission- ing trusts (TD 9512) 7,473 Deductions for medical expenses (Ann 14) 9,532 Definition of omission from gross income (TD 9511) 6,455 Depreciation, 2011 limitations ondeductions for passenger auto- mobiles (RP 21) 12,560 Disciplinary actionsinvolving attorneys,certified public accoun- tants, enrolled agents, and enrolled actuaries (Ann 4) 4,424; (Ann 24) 12,569 Disclosure of returns and return information to designee of tax- payer (REG–153338–09) 14,606 Disclosure of return information in connection with written con- tracts among the IRS, whistleblowers, and legal representa- tives of whistleblowers (TD 9516) 13,575 Electronic Funds Transfer (EFT) of depository taxes (TD 9507) 3,305 Emancipation day and tax filingand payment deadlines (Notice 17) 10,540 Employer-provided vehicles, cents-per-mile rule, maximum ve- hicle values for 2011 (RP 11) 4,329;correction(Ann9)7,499 Extension of Fast Track Settlement (FTS) for SB/SE taxpayer pilot program (Ann 5) 4,430 Extension of interim guidance on section 67 limitations on estates or trusts (Notice 37) 20,785 Farmer and fisherman income averaging (TD 9509) 6,450 Foreign earned income exclusion (RP 20) 11,551 Guidance and request for comments regarding implementation of Chapter 4 of the Code (Notice 34) 19,765 Guidance priority list, recommendations for 2011–2012 (Notice 39) 20,786 Guidance under section 108(a) concerning the exclusion of sec- tion 61(a)(12) discharge of indebtedness income of a grantor trust or a disregarded entity (REG–154159–09) 19,777 Guidance under section 162(m)(6) (Notice 2) 2,260 Health FSA/HRA debit cards, purchase over-the-counter drug purchases (Notice 5) 3,314 Health Savings Accounts (HSAs), cost of living adjustments for inflation for 2012 (RP 32) 22,835 Housing cost amounts eligible for exclusion or deduction, 2011 (Notice 8) 8,503 Implementation of rules governing tax return preparers (Notice 6) 3,315 Income recognition for advance payments received from the sale of gift cards (RP 18) 5,443 Information reporting, mortgageassistance programs (Notice 14) 11,544 Information reporting requirements for issuers of stock (Notice 18) 11,549 June 27, 2011viii2011–26 I.R.B. INCOME TAX—Cont. Instructions for persons answering questions relating to foreign financial accounts on 2010 federal income tax and information returns (Notice 31) 17,724 Insurance: Tax-free exchange of life insurance contract that is excepted from the pro rata interest disallowance rule of section 264(f) (RR 9) 12,554 Interest: Investment: Federal short-term, mid-term, and long-term rates for: January 2011 (RR 2) 2,256 February 2011 (RR 4) 6,448 March 2011 (RR 6) 10,537 April 2011 (RR 10) 14,597 May 2011 (RR 11) 19,758 June 2011 (RR 13) 23,841 Rates: Underpayments and overpayments, quarter beginning: April 1, 2011 (RR 5) 13,577 July 1, 2011 (RR 12) 26,917 TIPS issued at a premium (Notice 21) 19,761 Letter rulings: And determination letters, areas which will not be issued from: Associate Chief Counsel andDivision Counsel (TE/GE) (RP 3) 1,111 Associate Chief Counsel (International) (RP 7) 1,233 And information letters issued by Associate Offices, determi- nation letters issued by Operating Divisions (RP 1) 1,1; correction to Rev. Proc. 2011–1 (Ann 7) 5,446 Mailing of individual income tax returns by specified tax return preparers in calendar year 2011 (Notice 27) 17,723 Method of accounting, automatic and non-automatic changes (RP 14) 4,330 Mortgage assistance programs, income exclusion, safe harbor deduction method (Notice 14) 11,544 Nonshareholder contribution tocapital, clean coal (RP 30) 21, 802 Payments subject to backup withholding in payment card and third party network transactions (Notice 42) 23,866 Penalties, substantial understatement, preparer penalty (RP 13) 3,318 Private foundations, organizations now classified as (Ann 3) 3, 324;(Ann13)8,525; (Ann 27) 15,651; (Ann 33) 26,933 Proposed Regulations: 26 CFR 1.108.9, added; guidance under section 108(a) con- cerning the exclusion of section 61(a)(12) discharge of in- debtedness income of a grantor trust or a disregarded entity (REG–154159–09) 19,777 26 CFR 1.263A–0 thru –3, amended; 1.471–3, amended; sales-based royalties and vendor allowances (REG–149335–08) 6,468; hearing scheduled (Ann 26) 14,608 26 CFR 1.267(f)–1, amended; controlled groups; deferral of losses (REG–118761–09) 21,803 INCOME TAX—Cont. 26 CFR 1.863–10, added; source of income from qualified fails charges (REG–132724–10) 7,498 26 CFR 1.1273–1, –2, amended; 1.1274–3, amended; 1.1275–2, amended; property traded on an established market (REG–131947–10) 8,521 26 CFR 1.6049–4, –8, revised; 1.6049–5, –6, amended; 31.3406(g)–1, revised; guidance on reporting interest paid to nonresident aliens (REG–146097–09) 8,516; hearing rescheduled (Ann 30) 20,791 26 CFR Part 300.0, .4, .5, .6, amended; Parts 300.9 thru .11, added; user fees relative to retirement plan agents (REG–124018–10) 2,301 26 CFR 301.6103(c)–1, amended; disclosure of re- turn and return information to designee of taxpayer (REG–153338–09) 14,606 26 CFR 301.7623–1, amended; rewards and awards for in- formation relating to violations of internal revenue laws (REG–131151–10) 8,519;hearing(Ann28)18,748 Publication: 1220, changes affecting tax year 2010 filing of information returns (Ann 1) 2,304 4810, Specifications for Filing Form 8955-SSA, Registration Statement Identifying Separated Participants with Deferred Vested Benefits, Electronically (RP 31) 22,808 Qualified disaster, Japan earthquake and tsunami occurring in March 2011 (Notice 32) 18,737 Qualified mortgage bonds (QMBs) and mortgage credit certifi- cates (MCCs), average area purchase price for 2011 (RP 23) 15,626 Real Estate Investment Trust (REIT) distressed debt (RP 16) 5, 440 Real estate professional aggregation election under regulations section 1.469–9 (RP 34) 24,875 Recovery periods for depreciation of certain tangible assets used by wireless telecommunications carriers (RP 22) 18,737 Redetermination of intercompany gain as excluded from gross income (TD 9515) 14,599 Reduction of foreign tax credit limitation categories under sec- tion 904(d) (TD 9521) 19,750 Registered tax return preparer competency examination (Notice 48) 26,927 Regulations: 26 CFR 1.267(f)–1, amended; controlled groups; deferral of losses; (REG–118761–09) 21,803 26 CFR 1.367(a)–2, –4, –5, added; 1.367(a)–2T, –4T, –5T, amended; 1.954–2, amended; 1.954–2T, removed; 1.956–2, –2T, amended; modifications to treatment of aircraft and vessel leasing income (TD 9525) 23,837 26 CFR 1.367(a)–3, amended; 1.367(a)–3T, removed; 1.367(b)–0, amended; 1.367(b)–10, added; 1.367(b)–14T, removed; certain triangular reorganizations involving for- eign corporations (TD 9526) 24,869 26 CFR 1.468A–0T thru –9T, removed; 1.468A–0 thru –9, added; 602.101, amended; deductions for contributions to qualified nuclear decommissioning trusts (TD 9512) 7,473 2011–26 I.R.B.ixJune 27, 2011 INCOME TAX—Cont. 26 CFR 1.863–10T, added; source of income from qualified fails charges (TD 9508) 7,495 26 CFR 1.904–0, –2, –4, –5, –7 amended; 1.904–2T, –4T, –5T, –7T, removed; 1.904(f), amended; reduction of foreign tax credit limitation categories under section 904(d) (TD 9521) 19,750 26 CFR 1.932–1, amended; source rules involving U.S. pos- sessions and other conforming changes, correction to TD 9391 (Ann 12) 9,532 26 CFR 1.1001–3, amended; modifications of debt instru- ments (TD 9513) 8,501 26 CFR 1.1221–3; added; 1.221–3T, removed; time and man- ner rules for electing capital asset treatment for certain self- created musical works (TD 9514) 9,527 26 CFR 1.1301–1, amended; 1.1301–1T, removed; farmer and fisherman income averaging (TD 9509) 6,450 26 CFR 1.1462–1, amended; 1.6302–1 thru –4, amended; 31.6302–0 thru –2, –4, amended; 31.6302(c)–2A, re- moved; 31.6302(c)–3, amended; 40.6302–1T, amended; 40.6302(c)–3, amended; 301.6302–1, amended; 301.6656–1, amended; 301.7502–2, removed; electronic funds transfer of depository taxes (TD 9507) 3,305 26 CFR 1.1502–13, amended; 1.1502–13T, revised; amend- ment of matching rules for certain gains on member stock (TD 9515) 14,599 26 CFR 1.1563–1, amended; clarification of controlled group qualification rules (TD 9522) 20,780 26 CFR 1.6011–6, added and reserved; 1.6011–7, added; 301.6011–6, added and reserved; 301.6011–7, added; specified tax return preparers required to file individual income tax returns using magnetic media (TD 9518) 17, 710; correction (Ann 31) 22,836 26 CFR 1.6012–2, amended; requirement of a statement dis- closing uncertain tax positions (TD 9510) 6,453 26 CFR 300.0, .4, .5, .6, .9, amended; 300.10, .11, added; user fees relating to enrolled agents and retirement plan agents (TD 9523) 20,781 26 CFR 301.6103(n)–2, added; 301.6103(n)–2T, removed; disclosure of return information in connection with written contracts among the IRS, whistleblowers, and legal repre- sentatives of whistleblowers (TD 9516) 13,575 26 CFR 301.6229(c)(2)–1, added; 301.6229(c)(2)–1T, re- moved; 301.6501(e)–1, added; 301.6501(e)–1T, removed; definition of omission from gross income (TD 9511) 6,455 26 CFR 301.6323(b)–1, (c)–2, (f)–1, (g)–1, (h)–1, amended; validity and priority of tax liens against certain persons (TD 9520) 18,730 26 CFR 301.7811–1, amended; final regulations relating to the issuance of taxpayer assistance orders (TD 9519) 18, 734 Reinstatement of renewal period for enrolled agents whose tax identification numbers end in 4, 5, or 6 (Ann 29) 18,748 Relief and procedures for eligible taxpayers claiming benefits under the Military Spouses Residency Relief Act (MSRRA) (Notice 16) 17,720 INCOME TAX—Cont. Relief for tax return preparers who have pending PTIN applica- tions (Notice 11) 7,497 Reporting requirements for interest paid to nonresident alien individuals (REG–146097–09) 8,516; hearing rescheduled (Ann 30) 20,791 Requirement of a statement disclosing uncertain tax positions (TD 9510) 6,453 Restrictions on use of the term registered tax return preparer (No- tice 45) 25,886 Revocations, exempt organizations (Ann 2) 3,324;(Ann15)8, 526; (Ann 17) 9,532; (Ann 23) 12,568; (Ann 25) 14,608; (Ann 34) 24,877 Rewards and awards for information relating to violations of In- ternal Revenue laws (REG–131151–10) 8,519; hearing (Ann 28) 18,748 Sales-based royalties and vendor allowances (REG–149335–08) 6,468; hearing scheduled (Ann 26) 14,608 Source of income from qualified fails charges (TD 9508) 7,495; (REG–132724–10) 7,498 Source rules involving U.S. possessions and other conforming changes, correction to TD 9391 (Ann 12) 9,532 Specified tax return preparers required to file individual income tax returns using magnetic media (TD 9518) 17,710; correc- tion (Ann 31) 22,836 Standard Industry Fare Level (SIFL) (RR 8) 12,554 State and local government bonds, TEB VCAP (Ann 19) 11,553 Tax convention: U.S.-China agreement with respect to professors and teachers (Ann 18) 12,567 Taxpayer assistance orders, issuance (TD 9519) 18,734 Technical Advice Memoranda (TAMs) (RP 2) 1,90 Test of procedures for mediation and arbitration for Offer in Compromise (OIC) and Trust Fund Recovery Penalty (TFRP) cases in appeals (Ann 6) 4,433 Treatment of aircraft and vessel leasing income (TD 9525) 23, 837 Truncating social security numbers on paper payee statement (Notice 38) 20,785 Undue hardship waivers of the section 6011(e)(3) electronic fil- ing requirement and taxpayer choice statements to file in paper format (RP 25) 17,725 Userfeesrelatingtoenrolledagents and enrolled retirement plan agents (REG–124018–10) 2,301; (TD 9523) 20,781 Validity and priority of tax liens against certain persons (TD 9520) 18,730 SELF-EMPLOYMENT TAX Electronic Funds Transfer (EFT) of depository taxes (TD 9507) 3,305 Fees on health insurance policies and self-insured plans (Notice 35) 25,879 Letter rulings and information letters issued by Associate Of- fices, determination letters issued by Operating Divisions (RP 1) 1,1;correction(Ann7)5,446 June 27, 2011x2011–26 I.R.B. SELF-EMPLOYMENT TAX—Cont. Regulations: 26 CFR 1.1462–1, amended; 1.6302–1 thru –4, amended; 31.6071, amended; 31.6302–0 thru –2, –4, amended; 31.6302(c)–2A, removed; 31.6302(c)–3, amended; 40.6302(c)–1 thru –3, amended; 301.6302–1, amended; 301.6656–1, amended; 301.7502–2, removed; Electronic Funds Transfer (EFT) of depository taxes (TD 9507) 3,305 Technical Advice Memoranda (TAMs) (RP 2) 1,90 2011–26 I.R.B.xiJune 27, 2011 June 27, 20112011–26 I.R.B. INTERNAL REVENUE BULLETIN The Introduction at the beginning of this issue describes the purpose and content of this publication. The weekly Internal Revenue Bulletin is sold on a yearly subscription basis by the Superintendent of Documents. Current subscribers are notified by the Superin- tendent of Documents when their subscriptions must be renewed. CUMULATIVE BULLETINS The contents of this weekly Bulletin are consolidated semiannually into a permanent, indexed, Cumulative Bulletin. 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