# Prop. Treas. Reg. § 1.1471-2: Requirement to deduct and withhold tax on withholdable payments to certain FFIs.

Proposed regulation, not in force. REG-132881-17, 83 FR 64757, published 2018-12-18 <https://www.federalregister.gov/documents/2018/12/18/2018-27290/regulations-reducing-burden-under-fatca-and-chapter-3>. Interprets 26 U.S.C. § 1471.

Par. 7. Section 1.1471-2 is amended by: 1. Removing the language “or constitutes gross proceeds from the disposition of such an obligation” from the first sentence of paragraph (a)(1). 2. Removing and reserving paragraph (a)(2)(iii)(B). 3. Removing paragraph (a)(2)(vi). 4. Removing the language “, or any gross proceeds from the disposition of such an obligation” from the first and second sentences of paragraph (b)(1). 5. Removing the language “and the gross proceeds allocated to a partner from the disposition of such obligation as determined under § 1.1473-1(a)(5)(vii)” from paragraph (b)(3)(i). 6. Removing the language “and further includes a beneficiary's share of the gross proceeds from a disposition of such obligation as determined under § 1.1473-1(a)(5)(vii)” from paragraph (b)(3)(ii). 7. Removing the language “and the gross proceeds from the disposition of such obligation to the extent such owner is treated as owning the portion of the trust that consists of the obligation” from paragraph (b)(3)(iii). The revision reads as follows:

(a) * * *

(2) * * *

(iii) * * *

(B) [Reserved]

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