Internal Revenue Bulletin: 2008-3
January 22, 2008
Diversification; transition rules; extension. This notice provides an extension of certain transitional rules with respect to the diversification requirements of publicly traded securities for certain defined contribution plans. Notice 2006-107 modified.
This notice clarifies that the information reporting requirements under section 6039 of the Code apply to certain stock transfers occurring on or after January 1, 2007. Because new regulations under section 6039 have not yet been issued, the IRS is waiving the obligation to make an information return for 2007 stock transfers governed by section 6039. This notice explains, however, that corporations should continue to furnish to employees the information, required by and in accordance with existing section 1.6039-1, with respect to such stock transfers.
Minimum funding standards; alternative funding schedule. This announcement describes how a commercial passenger airline may make an election for an alternative funding schedule under section 402(a)(2) of the Pension Protection Act of 2006 as amended by section 6615 of the U.S. Troop Readiness, Veterans’ Care, Katrina Recovery, and Iraq Accountability Appropriations Act, 2007.
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