# Prop. Treas. Reg. § 1.904-5: Look-through rules as applied to controlled foreign corporations and other entities.

Proposed regulation, not in force. REG-101657-20, 85 FR 72078, published 2020-11-12 <https://www.federalregister.gov/documents/2020/11/12/2020-21818/guidance-related-to-the-foreign-tax-credit-clarification-of-foreign-derived-intangible-income>. Interprets 26 U.S.C. § 904.

Par. 27. Section 1.904-5 is amended by revising paragraphs (b)(2) and (o) as follows:

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(b) * * *

(2) Priority and ordering of look-through rules. To the extent the look-through rules assign income to a separate category, the income is assigned to that separate category rather than the separate category to which the income would have been assigned under § 1.904-4 (not taking into account § 1.904-4(l)). See paragraph (k) of this section for ordering rules for applying the look-through rules.

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(o) Applicability dates. Except as provided in this paragraph (o), this section is applicable for taxable years that both begin after December 31, 2017, and end on or after December 4, 2018. Paragraph (b)(2) of this section applies to taxable years beginning on or after [date final regulations are filed with the Federal Register ].