Table of Contents

• Notice 2005-38
  • SECTION 1. OVERVIEW
  • SECTION 2. BACKGROUND
    • .01 Section 965 — In General
    • .02 Extraordinary Dividends
    • .03 Maximum Amount Eligible for Section 965(a) — Greater of $500 Million or Permanently Reinvested Earnings
    • .04 Increase in Related Party Indebtedness
    • .05 Investment in the United States Pursuant to a Domestic Reinvestment Plan
  • SECTION 3. BASE PERIOD AMOUNT — GENERAL PRINCIPLES
    • .01 Determination of Base Period Amount
    • .02 Translation of Previously Taxed Income Distributed During the Base Period
  • SECTION 4. MAXIMUM AMOUNT ELIGIBLE FOR SECTION 965(a) — GENERAL PRINCIPLES
    • .01 Applicable Financial Statement
    • .02 Determination of APB 23 Limitation of a U.S. Shareholder
    • .03 Amount of Tax Liability Attributable to Earnings Permanently Reinvested
    • .04 Allocation of APB 23 Limitation
    • .05 Allocation of $500 Million Limitation
  • SECTION 5. TAXABLE YEAR TO WHICH SECTION 965 APPLIES
    • .01 In General
    • .02 Consolidated Groups
    • .03 Examples
  • SECTION 6. EFFECTS OF CERTAIN TRANSACTIONS ON BASE PERIOD INCLUSIONS AND MAXIMUM AMOUNT ELIGIBLE FOR SECTION 965(a) DRD
    • .01 Base Period Inclusions and APB 23 Limitation as U.S. Shareholder Attributes
    • .02 Allocated Portion of $500 Million Limitation
  • SECTION 7. REDUCTION OF BENEFIT FOR INCREASES IN RELATED PARTY INDEBTEDNESS
    • .01 Background
    • .02 Definition of Indebtedness
    • .03 Determination of Related Party Indebtedness
    • .04 Amount of Reduction under Section 965(b)(3)
    • .05 Amount of Related Party Indebtedness on the Initial Measurement Date and the Last Measurement Date
    • .06 Related Party Indebtedness — Multiple U.S. Shareholders
    • .07 Translation of Foreign Currency-Denominated Related Party Indebtedness
    • .08 Examples
  • SECTION 8. EFFECT OF CERTAIN TRANSACTIONS ON DOMESTIC REINVESTMENT PLANS
    • .01 In General
    • .02 Members Entering and Exiting a Consolidated Group
    • .03 Asset Acquisitions
    • .04 Designation of Permitted Investment Activity
    • .05 Reporting and Other Administration Requirements under Section 8 of Notice 2005-10
    • .06 Examples
  • SECTION 9. OTHER GUIDANCE
    • .01 Section 78 Gross-Up, Disallowance of Expenses Pursuant to Section 965(d)(2), and Computation of Alternative Minimum Tax in Election Year
    • .02 Contiguous Country Branches of Domestic Life Insurance Companies
    • .03 Cash Dividends in Excess of Amounts Covered by Domestic Reinvestment Plans
    • .04 Section 958(a) Chain of Ownership — Stock Deemed Issued Pursuant to Section 304(a)(1)
    • .05 Acquisitions of Interests in Business Entities — Modification of Section 5.06 of Notice 2005-10
    • .06 Distributions to Intermediary Disregarded Entities — Clarification of Section 3.02 of Notice 2005-10
  • SECTION 10. REPORTING AND OTHER ADMINISTRATIVE REQUIREMENTS
  • SECTION 11. TRANSITION RULES
    • .01 Domestic Reinvestment Plans Approved Prior to May 10, 2005
    • .02 Tax Returns filed Prior to May 10, 2005
  • SECTION 12. EFFECT OF THIS NOTICE ON OTHER DOCUMENTS
  • SECTION 13. EFFECTIVE DATE
  • SECTION 14. PAPERWORK REDUCTION ACT
  • SECTION 15. DRAFTING INFORMATION
• Rev. Proc. 2005-29
  • PART A. GENERAL
    • Sec. 1. Purpose
    • Sec. 2. Nature of Changes
    • Sec. 3. Where to File and How to Contact the IRS Enterprise Computing Center-Martinsburg
    • Sec. 4. Form 4419, Application for Filing Information Returns Electronically/Magnetically
    • Sec. 5. Filing Requirements
    • Sec. 6. Filing of Information Returns For Federal Contracts
    • Sec. 7. Filing Dates
    • Sec. 8. How to File Corrected Returns
    • Sec. 9. Taxpayer Identification Numbers
    • Sec. 10. State Abbreviations
  • PART B. ELECTRONIC FILING SPECIFICATIONS
    • Sec. 1. General
    • Sec. 2. Advantages of Filing Electronically
    • Sec. 3. Electronic Filing Approval Procedure
    • Sec. 4. Electronic Submissions
    • Sec. 5. PIN Requirements
    • Sec. 6. Electronic Filing Specifications
    • Sec. 7. Connecting to the FIRE System
    • Sec. 8. Common Problems and Questions Associated with Electronic Filing
  • PART C. MAGNETIC MEDIA SPECIFICATIONS
    • Sec. 1. General and Replacement Media
    • Sec. 2. Tape Cartridge Specifications
  • PART D. RECORD FORMAT SPECIFICATIONS AND RECORD LAYOUTS
    • Sec. 1. General
    • Sec. 2. Transmitter “T” Record — General Field Descriptions
    • Sec. 3. Transmitter “T” Record — Record Layout
    • Sec. 4. Payer “A” Record — General Field Descriptions
    • Sec. 5. Payer “A” Record — Record Layout
    • Sec. 6. Payee “B” Record — General Field Descriptions
    • Sec. 7. Payee “B” Record — Record Layout
    • Sec. 8. End of Payer “C” Record — General Field Descriptions and Record Layout
    • Sec. 9. End of Transmission “F” Record — General Field Descriptions and Record Layout
    • Sec. 10. File Record Layout
• Rev. Proc. 2005-30
  • SECTION 1. PURPOSE
  • SECTION 2. LAW AND ANALYSIS
  • SECTION 3. DESCRIPTION OF RELIEF
  • SECTION 4. PROCEDURE
  • SECTION 5. EFFECT ON OTHER DOCUMENTS
  • SECTION 6. EFFECTIVE DATE
  • SECTION 7. DRAFTING INFORMATION