Internal Revenue Bulletin 2022-20 (PDF rendition): IRS Revenue Procedures

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Bulletin No. 2022–20
May 16, 2022
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.
ADMINISTRATIVE
Rev. Proc. 2022-24, page 1075.
This revenue procedure provides the 2023 inflation ad-
justed amounts for Health Savings Accounts (HSAs) as
determined under § 223 of the Internal Revenue Code
and the maximum amount that may be made newly
available for excepted benefit health reimbursement ar-
rangements (HRAs) provided under § 54.9831-1(c)(3)
(viii) of the Pension Excise Tax Regulations.
ADMINISTRATIVE, INCOME TAX
Notice 2022-23, page 1062.
This notice sets forth proposed changes to the quali-
fied intermediary (QI) withholding agreement (QI agree-
ment) described in §1.1441-1(e)(5) and (6) that will
permit a QI to assume withholding and reporting re-
sponsibilities for purposes of sections 1446(a) and (f).
Generally, the notice sets forth proposed changes to
the QI agreement that apply to a QI effecting a trans-
fer of an interest in a publicly traded partnership (PTP)
or receiving a distribution made by a PTP on behalf of
an account holder of the QI. The Treasury Department
and the IRS anticipate that the proposed changes to
the QI agreement described in this notice, subject to
any modifications included in a revenue procedure
containing the final QI agreement, will apply to the QI
agreements that are in effect on or after January 1,
2023, to correspond with both the applicability date
of final regulations relating to withholding under sec-
tions 1446(a) and (f) and the expiration of the existing
QI agreement.
EMPLOYEE PLANS
Notice 2022-22, page 1057.
This notice sets forth the updated mortality improve-
ment rates and static mortality tables that are used for
purposes of determining minimum funding requirements
under § 430(h)(3) for 2023 and minimum present value
under § 417(e)(3) for distributions with annuity starting
dates that occur during stability periods beginning in
the 2023 calendar year.
REG-106384-20, page 1076.
This document contains proposed regulations prescrib-
ing mortality tables to be used by most defined bene-
fit pension plans. The tables specify the probability of
survival year-by-year for an individual based on age,
gender, and other factors. This information is used (to-
gether with other actuarial assumptions) to calculate
the present value of a stream of expected future bene-
fit payments for purposes of determining the minimum
funding requirements for a defined benefit plan. These
mortality tables are also relevant in determining the
minimum required amount of a lump-sum distribution
from such a plan. These regulations affect participants
in, beneficiaries of, employers maintaining, and admin-
istrators of certain retirement plans.
ESTATE TAX, GIFT TAX
REG-118913-21, page 1089.
Section 11061 of TCJA amended § 2010(c)(3) to
provide that, for estates of decedents dying and gifts
made beginning in 2018 and through 2025, the basic
Finding Lists begin on page ii.

exclusion amount (BEA) is $10 million as adjusted for
inflation. On January 1, 2026, the BEA will revert to $5
million as adjusted for inflation. Treas. Reg. § 20.2010-
1(c) provides a special estate tax rule applicable in cas-
es where a decrease in the BEA occurring after a gift
was made causes the credit that was allowable against
the gift tax to exceed that allowable against the estate
tax. In that case, the estate tax formula will result in
the imposition of an estate tax on the gifts that were
sheltered from gift tax when made. The special rule
eliminates the problem by allowing a credit against the
estate tax based on the larger of the credit allowable
in computing the estate tax and the total of the credits
allowable in computing the gift tax payable on the dece-
dent’s post-1976 gifts. This NPRM proposes to limit
the application of the special rule by excluding from its
coverage certain gifts that are includible or treated as
inclludible in the gross estate for estate tax purposes.
SPECIAL ANNOUNCEMENT
Notice 2022-21, page 1057.
Notice 2022-21 invites the public to submit recommen-
dations for items to be included on the 2022-2023 Pri-
ority Guidance Plan.

The IRS Mission
Provide America’s taxpayers top-quality service by helping
them understand and meet their tax responsibilities and en-
force the law with integrity and fairness to all.
Introduction
The Internal Revenue Bulletin is the authoritative instrument
of the Commissioner of Internal Revenue for announcing of-
ficial rulings and procedures of the Internal Revenue Service
and for publishing Treasury Decisions, Executive Orders, Tax
Conventions, legislation, court decisions, and other items of
general interest. It is published weekly.
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,
modify, or amend any of those previously published in the
Bulletin. All published rulings apply retroactively unless other-
wise indicated. Procedures relating solely to matters of inter-
nal management 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 rul-
ings 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.—1986 Code.
This part includes rulings and decisions based on provisions
of the Internal 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,
Legislation 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
Rulings. Bank Secrecy Act Administrative Rulings are issued
by the Department of the Treasury’s Office of the Assistant
Secretary (Enforcement).
Part IV.—Items of General Interest.
This part includes notices of proposed rulemakings, disbar-
ment and 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 contents of this publication are not copyrighted and may be reprinted freely. A citation of the Internal Revenue Bulletin as the source would be appropriate.
May 16, 2022 Bulletin No. 2022–20

Part III
Public Recommendations
Invited on Items to be
Included on the 2022-2023
Priority Guidance Plan
Notice 2022-21
The Department of the Treasury (Trea-
sury Department) and the Internal Rev-
enue Service (IRS) invite the public to
submit recommendations for items to be
included on the 2022-2023 Priority Guid-
ance Plan.
The Treasury Department’s Office of
Tax Policy and the IRS use the Priority
Guidance Plan each year to identify and
prioritize the tax issues that should be
addressed through regulations, revenue
rulings, revenue procedures, notices, and
other published administrative guidance.
The 2022-2023 Priority Guidance Plan
will identify guidance projects that the
Treasury Department and the IRS intend
to actively work on as priorities during the
period from July 1, 2022, through June 30,
2023.
The Treasury Department and the IRS
recognize the importance of public input
in formulating a Priority Guidance Plan
that focuses resources on guidance items
that are most important to taxpayers and
tax administration. Published guidance
plays an important role in increasing vol-
untary compliance by helping to clarify
ambiguous areas of the tax law. The pub-
lished guidance process is most success-
ful if the Treasury Department and the
IRS have the benefit of the experience
and knowledge of taxpayers and practi-
tioners who must apply the rules imple-
menting the tax laws.
This solicitation reflects an emphasis
on taxpayer engagement with the Treasury
Department and the IRS through a variety
of channels, consistent with the directive
of the Taxpayer First Act, Pub. L. 116-25,
133 Stat. 981.
In reviewing recommendations and
selecting additional projects for inclusion
on the 2022-2023 Priority Guidance Plan,
the Treasury Department and the IRS will
consider the following:
1. Whether the recommended guidance
resolves significant issues relevant to
a broad class of taxpayers;
2. Whether the recommended guidance
reduces controversy and lessens the
burden on taxpayers or the IRS;
3. Whether the recommended guidance
relates to recently enacted legislation;
4. Whether the recommendation
involves existing regulations or other
guidance that is outdated, unnec-
essary, ineffective, insufficient, or
unnecessarily burdensome and that
should be modified, streamlined,
expanded, replaced, or withdrawn;
5. Whether the recommended guidance
promotes sound tax administration;
6. Whether the IRS can administer the
recommended guidance on a uniform
basis; and
7. Whether the recommended guidance
can be drafted in a manner that will
enable taxpayers to easily understand
and apply the guidance.
Please submit recommendations for
guidance by Friday, June 3, 2022, for pos-
sible inclusion on the original 2022-2023
Priority Guidance Plan. Taxpayers may,
however, submit recommendations for
guidance at any time during the year. The
Treasury Department and the IRS will up-
date the 2022-2023 Priority Guidance Plan
periodically to reflect additional guidance
that the Treasury Department and the IRS
intend to publish or have published during
the plan year. The periodic updates allow
the Treasury Department and the IRS to
respond in a timely manner to the need for
additional guidance that may arise during
the plan year.
Taxpayers are not required to submit
recommendations for guidance in any
particular format. Taxpayers should, how-
ever, briefly describe the recommended
guidance and explain the need for the guid-
ance. In addition, taxpayers may include
an analysis of how the issue should be re-
solved. For recommendations to modify,
streamline, or withdraw existing regula-
tions or other guidance, taxpayers should
explain how the changes would reduce
taxpayer cost and/or burden or benefit tax
administration. It would be helpful if tax-
payers suggesting more than one guidance
project prioritize the projects by order of
importance. If a large number of projects
are being suggested, it would be helpful if
the projects were grouped by subject mat-
ter and then in terms of high, medium, or
low priority. Requests for guidance in the
form of petitions for rulemaking will be
considered with other recommendations
for guidance in accordance with the con-
siderations described in this notice.
Taxpayers are strongly encouraged to
submit recommendations for guidance
electronically via the Federal eRulemak-
ing Portal at www.regulations.gov (type
IRS-2022-0007 in the search field on the
regulations.gov homepage to find this no-
tice and submit recommendations). Tax-
payers submitting recommendations by
mail should send them to:
Internal Revenue Service
Attn: CC:PA:LPD:PR (Notice 2022-
21) Room 5203
P.O. Box 7604
Ben Franklin Station
Washington, D.C. 20044
All recommendations for guidance
submitted by the public in response to
this notice will be available for public in-
spection and copying in their entirety. For
further information regarding this notice,
contact Emily M. Lesniak of the Office of
the Associate Chief Counsel (Procedure
and Administration) at (202) 317-5409
(not a toll-free number).
Updated Mortality
Improvement Rates and
Static Mortality Tables for
Defined Benefit Pension
Plans for 2023
Notice 2022-22
PURPOSE
This notice specifies updated mortality
improvement rates and static mortality ta-
bles to be used for defined benefit pension
Bulletin No. 2022–20 1057 May 16, 2022

plans under § 430(h)(3)(A) of the Internal
Revenue Code (Code) and section 303(h)
(3)(A) of the Employee Retirement In-
come Security Act of 1974, Pub. L. No.
93-406, as amended (ERISA). These up-
dated mortality improvement rates and
static mortality tables, which are being
issued pursuant to the regulations under
section 430(h)(3)(A) of the Code, apply
for purposes of determining present value
and making any other computation under
section 430 for valuation dates occurring
during the 2023 calendar year.
This notice also includes a modified
unisex version of the mortality tables for
use in determining minimum present val-
ue under section 417(e)(3) of the Code
and section 205(g)(3) of ERISA for dis-
tributions with annuity starting dates that
occur during stability periods beginning in
the 2023 calendar year.
BACKGROUND
Section 412 of the Code provides min-
imum funding requirements that generally
apply for defined benefit plans. Section
412(a)(2) provides that section 430 sets
forth the minimum funding requirements
that apply to defined benefit plans that are
not multiemployer plans or CSEC plans.
Section 430(a) defines the minimum re-
quired contribution for such a plan by
reference to the plan’s funding target for
the plan year. Under section 430(d)(1), a
plan’s funding target for a plan year gen-
erally is the present value of all benefits
accrued or earned under the plan as of the
first day of that plan year.
Section 430(h)(3) provides rules re-
garding the mortality tables that generally
are used under section 430. Under section
430(h)(3)(A), except as provided in sec-
tion 430(h)(3)(C) or (D), the Secretary is
to prescribe by regulation mortality tables
to be used in determining any present val-
ue or making any computation under sec-
tion 430. Those tables are to be based on
the actual experience of pension plans and
projected trends in that experience. Sec-
tion 430(h)(3)(B) requires the Secretary
to revise any table in effect under section
430(h)(3)(A) at least every 10 years to re-
flect the actual experience of pension plans
and projected trends in that experience.
Section 430(h)(3)(C) provides that,
upon request by a plan sponsor and ap-
proval by the Secretary, substitute mortal-
ity tables that meet the applicable require-
ments may be used in lieu of the standard
mortality tables provided under section
430(h)(3)(A). Section 430(h)(3)(D) pro-
vides for the use of separate mortality
tables with respect to certain individuals
who are entitled to benefits on account of
disability.
Mortality Tables for Purposes of § 430
Treas. Reg. § 1.430(h)(3)-1 provides
rules regarding the mortality tables used
under section 430(h)(3)(A) for plan years
beginning on or after January 1, 2018.
The mortality tables used under sec-
tion 430(h)(3)(A) are based on the tables
in the RP-2014 Mortality Tables Report,
1

adjusted for mortality improvement. Sec-
tion 1.430(h)(3)-1(d) sets forth base mor-
tality tables with a base year of 2006.
Section 1.430(h)(3)-1(a) permits plan
sponsors to apply the projection of mor-
tality improvement in one of two ways:
through use of static tables that are updat-
ed annually to reflect expected improve-
ments in mortality or through use of gen-
erational tables. Section 1.430(h)(3)-1(a)
(2)(i)(C) provides that, for valuation dates
occurring in calendar years after 2018,
updated mortality improvement rates that
take into account new data for mortality
improvement trends of the general popu-
lation, along with static mortality tables
that reflect those updated mortality im-
provement rates, will be provided through
guidance published in the Internal Reve-
nue Bulletin.
2
Treas. Reg. § 1.430(h)(3)-2 provides
rules for the use of substitute mortality ta-
bles that are based on the mortality expe-
rience of the plan. Pursuant to § 1.430(h)
(3)-2(c)(3)(ii), substitute mortality tables
are developed using the mortality im-
provement rates used under § 1.430(h)
(3)-1.
Application of These Tables for Other
Funding Rules
Section 431 provides the minimum
funding standards for multiemployer
plans described in section 414(f) that are
subject to section 412. Section 431(c)(6)
(D)(iv) provides that the Secretary may
by regulation prescribe mortality tables
to be used in determining current lia-
bility for purposes of section 431(c)(6)
(B). Treas. Reg. § 1.431(c)(6)-1 provides
that the same mortality assumptions that
apply for purposes of section 430(h)(3)
(A) and § 1.430(h)(3)-1(a)(2) are used
to determine a multiemployer plan’s cur-
rent liability for purposes of applying the
full-funding rules of § 431(c)(6). For this
purpose, a multiemployer plan may ap-
ply either the static mortality tables or the
generational mortality tables (as updated
pursuant to § 1.430(h)(3)-1(a)(2)(i)(C)
and (a)(3)).
Section 433 provides the minimum
funding standards for CSEC plans de-
scribed in section 414(y). Section 433(h)
(3)(B)(i) provides that the Secretary may
by regulation prescribe mortality tables to
be used in determining current liability for
purposes of section 433(c)(7)(C). Treas.
Reg. § 1.433(h)(3)-1(a) provides that the
mortality tables described in section 430(h)
(3)(A) are to be used to determine current
liability under section 433(c)(7)(C).
Application of Mortality Tables for
Minimum Present Value Requirements
under Section 417(e)(3)
Section 417(e)(3) generally provides
that the present value of certain acceler-
ated forms of benefit under a qualified
pension plan (including single-sum distri-
butions) must not be less than the present
value of the accrued benefit using applica-
ble interest rates and the applicable mor-
tality table. Section 417(e)(3)(B) defines
the term “applicable mortality table” as
the mortality table specified for the plan
year under section 430(h)(3)(A) (without
regard to section 430(h)(3)(C) or (D)),
modified as appropriate by the Secretary.
1
The RP-2014 Mortality Tables Report, as revised November 2014, is available at https://www.soa.org/Files/Research/Exp-Study/research-2014-rp-report.pdf. <?> The RP-2014 Mortality
Tables Report, as revised November 2014, is available at https://www.soa.org/Files/Research/Exp-Study/research-2014-rp-report.pdf.
2
Notice 2018-2, 2018-2 IRB 281, Notice 2019-26, 2019-15 IRB 943, Notice 2019-67, 2019-52 IRB 1510, and Notice 2020-85, 2020-51 IRB 1645, provide mortality improvement rates and
static mortality tables that apply for valuation dates occurring during 2019, 2020, 2021, and 2022, respectively.
May 16, 2022 1058 Bulletin No. 2022–20

Bulletin No. 2022–20 1059 May 16, 2022
Rev. Rul. 2007-67, 2007-2 CB 1047,
provides that, except as otherwise stated
in future guidance, the applicable mor-
tality table under section 417(e)(3) is a
static mortality table set forth in pub-
lished guidance that is developed based
on a fixed blend of 50 percent of the
static male combined mortality rates and
50 percent of the static female combined
mortality rates used under § 1.430(h)(3)-
1. Rev. Rul. 2007-67 also provides that
the applicable mortality table for a cal-
endar year applies to distributions with
annuity starting dates that occur during
stability periods that begin during that
calendar year.
MORTALITY IMPROVEMENT RATES
FOR 2023
The mortality improvement rates for
valuation dates occurring during 2023
are the mortality improvement rates in
the Mortality Improvement Scale MP-
2021 Report (issued by the Retirement
Plans Experience Committee (RPEC)
of the Society of Actuaries and avail-
able at https://www.soa.org/globalassets/
assets/files/resources/experience-stud-
ies/2021/2021-mp-scale-report.pdf).
STATIC MORTALITY TABLES FOR
2023
The static mortality tables that apply
under section 430(h)(3)(A) for valuation
dates occurring during 2023 are set forth
in the appendix to this notice. The mortal-
ity rates in these tables have been devel-
oped from the methodology and base mor-
tality rates set forth in § 1.430(h)(3)-1(c)
and (d) using the mortality improvement
rates specified in the previous section of
this notice.
The static mortality table that applies
under section 417(e)(3) for distributions
with annuity starting dates occurring
during stability periods beginning in
2023 is set forth in the appendix to this
notice in the column labeled “Unisex.”
The mortality rates in this table are de-
rived from the mortality tables specified
under section 430(h)(3)(A) for 2023 in
accordance with the procedures set forth
in Rev. Rul. 2007-67.
Drafting Information
The principal authors of this notice
are Arslan Malik and Linda S. F. Mar-
shall of the Office of the Associate Chief
Counsel (Employee Benefits, Exempt
Organizations, and Employment Taxes).
For further information regarding this
notice, contact Arslan Malik or Linda
Marshall at (202) 317-6700 (not a toll-
free number).
APPENDIX
Mortality Tables for 2023
Valuation Dates Occurring During 2023 and
Distributions Subject to Section 417(e)(3) with Annuity Starting Dates During
Stability Periods Beginning in 2023
MaleMaleMale FemaleFemaleFemaleUnisex
Age
2023
Non-Annuitant
Table
2023
Annuitant
Table
2023 Optional
Combined
Table for Small
Plans
2023
Non-Annuitant
Table
2023
Annuitant
Table
2023 Optional
Combined
Table for Small
Plans
2023 Table for
Distributions
Subject to
§ 417(e)(3)
0 0.0025750.0025750.002575 0.0022610.0022610.0022610.002418
1 0.0001510.0001510.000151 0.0001420.0001420.0001420.000147
2 0.0001040.0001040.000104 0.0000940.0000940.0000940.000099
3 0.0000870.0000870.000087 0.0000710.0000710.0000710.000079
4 0.0000690.0000690.000069 0.0000540.0000540.0000540.000062
5 0.0000610.0000610.000061 0.0000500.0000500.0000500.000056
6 0.0000560.0000560.000056 0.0000460.0000460.0000460.000051
7 0.0000500.0000500.000050 0.0000430.0000430.0000430.000047
8 0.0000430.0000430.000043 0.0000410.0000410.0000410.000042
9 0.0000350.0000350.000035 0.0000380.0000380.0000380.000037
10 0.0000300.0000300.000030 0.0000360.0000360.0000360.000033
11 0.0000320.0000320.000032 0.0000380.0000380.0000380.000035
12 0.0000480.0000480.000048 0.0000440.0000440.0000440.000046
13 0.0000650.0000650.000065 0.0000510.0000510.0000510.000058

May 16, 2022 1060 Bulletin No. 2022–20
MaleMaleMale FemaleFemaleFemaleUnisex
Age
2023
Non-Annuitant
Table
2023
Annuitant
Table
2023 Optional
Combined
Table for Small
Plans
2023
Non-Annuitant
Table
2023
Annuitant
Table
2023 Optional
Combined
Table for Small
Plans
2023 Table for
Distributions
Subject to
§ 417(e)(3)
14 0.0000810.0000810.000081 0.0000570.0000570.0000570.000069
15 0.0000970.0000970.000097 0.0000630.0000630.0000630.000080
16 0.0001150.0001150.000115 0.0000680.0000680.0000680.000092
17 0.0001330.0001330.000133 0.0000730.0000730.0000730.000103
18 0.0001530.0001530.000153 0.0000780.0000780.0000780.000116
19 0.0001740.0001740.000174 0.0000810.0000810.0000810.000128
20 0.0001940.0001940.000194 0.0000820.0000820.0000820.000138
21 0.0002210.0002210.000221 0.0000850.0000850.0000850.000153
22 0.0002470.0002470.000247 0.0000880.0000880.0000880.000168
23 0.0002680.0002680.000268 0.0000930.0000930.0000930.000181
24 0.0002820.0002820.000282 0.0000970.0000970.0000970.000190
25 0.0002760.0002760.000276 0.0001010.0001010.0001010.000189
26 0.0002760.0002760.000276 0.0001070.0001070.0001070.000192
27 0.0002800.0002800.000280 0.0001140.0001140.0001140.000197
28 0.0002890.0002890.000289 0.0001210.0001210.0001210.000205
29 0.0003030.0003030.000303 0.0001300.0001300.0001300.000217
30 0.0003210.0003210.000321 0.0001430.0001430.0001430.000232
31 0.0003420.0003420.000342 0.0001560.0001560.0001560.000249
32 0.0003660.0003660.000366 0.0001710.0001710.0001710.000269
33 0.0003910.0003910.000391 0.0001860.0001860.0001860.000289
34 0.0004140.0004140.000414 0.0002020.0002020.0002020.000308
35 0.0004360.0004360.000436 0.0002170.0002170.0002170.000327
36 0.0004550.0004550.000455 0.0002310.0002310.0002310.000343
37 0.0004740.0004740.000474 0.0002470.0002470.0002470.000361
38 0.0004940.0004940.000494 0.0002630.0002630.0002630.000379
39 0.0005160.0005160.000516 0.0002810.0002810.0002810.000399
40 0.0005420.0005420.000542 0.0002990.0002990.0002990.000421
41 0.0005700.0005760.000570 0.0003180.0003160.0003180.000444
42 0.0006030.0006560.000603 0.0003390.0003590.0003390.000471
43 0.0006440.0007790.000646 0.0003630.0004250.0003630.000505
44 0.0006930.0009430.000698 0.0003910.0005160.0003910.000545
45 0.0007500.0011460.000759 0.0004230.0006310.0004250.000592
46 0.0008170.0013900.000833 0.0004590.0007710.0004640.000649
47 0.0008910.0016750.000916 0.0005000.0009390.0005110.000714
48 0.0009730.0020040.001010 0.0005460.0011380.0005660.000788
49 0.0010660.0023830.001120 0.0005960.0013710.0006280.000874
50 0.0011690.0028170.001244 0.0006540.0016420.0007040.000974
51 0.0012840.0030080.001370 0.0007190.0017330.0007780.001074
52 0.0014160.0032180.001540 0.0007950.0018480.0008730.001207
53 0.0015560.0034260.001734 0.0008830.0019940.0009880.001361
54 0.0017140.0036520.001964 0.0009850.0021700.0011260.001545

Bulletin No. 2022–20 1061 May 16, 2022
MaleMaleMale FemaleFemaleFemaleUnisex
Age
2023
Non-Annuitant
Table
2023
Annuitant
Table
2023 Optional
Combined
Table for Small
Plans
2023
Non-Annuitant
Table
2023
Annuitant
Table
2023 Optional
Combined
Table for Small
Plans
2023 Table for
Distributions
Subject to
§ 417(e)(3)
55 0.0018980.0039030.002312 0.0011000.0023800.0013430.001828
56 0.0021150.0041890.002773 0.0012280.0026240.0016270.002200
57 0.0023740.0045150.003183 0.0013700.0029070.0018930.002538
58 0.0026850.0048850.003653 0.0015250.0032250.0021840.002919
59 0.0030510.0053020.004173 0.0016900.0035800.0025140.003344
60 0.0034830.0057730.004773 0.0018650.0039650.0029050.003839
61 0.0039800.0062920.005445 0.0020500.0043810.0034030.004424
62 0.0045500.0068660.006195 0.0022450.0048250.0039470.005071
63 0.0052060.0075140.007030 0.0024560.0053040.0045980.005814
64 0.0059450.0082270.007852 0.0026860.0058260.0052120.006532
65 0.0067590.0089920.008731 0.0029290.0063780.0058790.007305
66 0.0075750.0098370.009683 0.0032620.0069940.0066650.008174
67 0.0084600.0107550.010643 0.0036280.0076730.0074170.009030
68 0.0094320.0117680.011684 0.0040430.0084380.0082280.009956
69 0.0105300.0129260.012857 0.0045160.0093140.0091350.010996
70 0.0117400.0142110.014147 0.0050550.0103110.0101330.012140
71 0.0131050.0156690.015609 0.0056700.0114430.0112670.013438
72 0.0146510.0173340.017278 0.0063770.0127440.0125710.014925
73 0.0163930.0192220.019171 0.0071840.0142190.0140520.016612
74 0.0183810.0213920.021345 0.0081100.0159050.0157470.018546
75 0.0206250.0238600.023818 0.0091710.0178320.0176850.020752
76 0.0231530.0266690.026632 0.0103820.0200290.0198980.023265
77 0.0260110.0298840.029854 0.0117710.0225550.0224450.026150
78 0.0292200.0335420.033520 0.0133550.0254560.0253740.029447
79 0.0328000.0376900.037677 0.0151620.0287940.0287480.033213
80 0.0368040.0424090.042409 0.0172020.0326110.0326110.037510
81 0.0387790.0475640.047564 0.0189970.0368750.0368750.042220
82 0.0424710.0534930.053493 0.0223990.0417630.0417630.047628
83 0.0478750.0602100.060210 0.0274620.0473810.0473810.053796
84 0.0551120.0679260.067926 0.0342540.0538270.0538270.060877
85 0.0642080.0766500.076650 0.0428290.0611630.0611630.068907
86 0.0752470.0865340.086534 0.0532010.0694450.0694450.077990
87 0.0882140.0976310.097631 0.0654550.0788060.0788060.088219
88 0.1032170.1100800.110080 0.0796020.0892360.0892360.099658
89 0.1202850.1239820.123982 0.0956310.1007650.1007650.112374
90 0.1394040.1394040.139404 0.1135530.1135530.1135530.126479
91 0.1557230.1557230.155723 0.1274320.1274320.1274320.141578
92 0.1724950.1724950.172495 0.1420790.1420790.1420790.157287
93 0.1894160.1894160.189416 0.1574360.1574360.1574360.173426
94 0.2063220.2063220.206322 0.1731200.1731200.1731200.189721
95 0.2229040.2229040.222904 0.1892590.1892590.1892590.206082

May 16, 2022 1062 Bulletin No. 2022–20
MaleMaleMale FemaleFemaleFemaleUnisex
Age
2023
Non-Annuitant
Table
2023
Annuitant
Table
2023 Optional
Combined
Table for Small
Plans
2023
Non-Annuitant
Table
2023
Annuitant
Table
2023 Optional
Combined
Table for Small
Plans
2023 Table for
Distributions
Subject to
§ 417(e)(3)
96 0.2410360.2410360.241036 0.2066350.2066350.2066350.223836
97 0.2596090.2596090.259609 0.2246250.2246250.2246250.242117
98 0.2787830.2787830.278783 0.2433300.2433300.2433300.261057
99 0.2985570.2985570.298557 0.2625750.2625750.2625750.280566
100 0.3187150.3187150.318715 0.2825070.2825070.2825070.300611
101 0.3390880.3390880.339088 0.3026310.3026310.3026310.320860
102 0.3593870.3593870.359387 0.3230250.3230250.3230250.341206
103 0.3795670.3795670.379567 0.3434040.3434040.3434040.361486
104 0.3991390.3991390.399139 0.3635910.3635910.3635910.381365
105 0.4175080.4175080.417508 0.3833610.3833610.3833610.400435
106 0.4354230.4354230.435423 0.4026370.4026370.4026370.419030
107 0.4523730.4523730.452373 0.4209050.4209050.4209050.436639
108 0.4681270.4681270.468127 0.4383230.4383230.4383230.453225
109 0.4830490.4830490.483049 0.4546560.4546560.4546560.468853
110 0.4969730.4969730.496973 0.4699510.4699510.4699510.483462
111 0.5019660.5019660.501966 0.4842100.4842100.4842100.493088
112 0.5012080.5012080.501208 0.4973590.4973590.4973590.499284
113 0.5006030.5006030.500603 0.5027640.5027640.5027640.501684
114 0.5000010.5000010.500001 0.5010520.5010520.5010520.500527
115 0.4993000.4993000.499300 0.4995000.4995000.4995000.499400
116 0.4996000.4996000.499600 0.4997500.4997500.4997500.499675
117 0.4998000.4998000.499800 0.4998500.4998500.4998500.499825
118 0.4999500.4999500.499950 0.5000000.5000000.5000000.499975
119 0.5000000.5000000.500000 0.5000000.5000000.5000000.500000
120 1.0000001.0000001.000000 1.0000001.0000001.0000001.000000
26 CFR 1.1441-1(e)(5) and
(6). Proposed Amendments
to the Qualified
Intermediary Agreement in
Rev. Proc. 2017-15.
Notice 2022-23
SECTION 1. PURPOSE AND SCOPE
This Notice sets forth proposed chang-
es to the qualified intermediary (QI)
withholding agreement (QI agreement)
described in §1.1441-1(e)(5) and (6) that
will permit a QI to assume withholding
and reporting responsibilities for purpos-
es of sections 1446(a) and (f). In general,
the QI agreement allows foreign persons
to enter into an agreement with the In-
ternal Revenue Service (IRS) to simplify
certain of their obligations as a withhold-
ing agent under chapters 3 and 4 and as a
payor under chapter 61 and section 3406
for amounts paid to their account holders.
The QI agreement currently in effect, as
provided in Rev. Proc. 2017-15, 2017-3
I.R.B. 437 (the QI agreement), expires on
December 31, 2022. This Notice sets forth
proposed changes to the QI agreement
that apply to a QI effecting a transfer of
an interest in a publicly traded partnership
(PTP) or receiving a distribution made by
a PTP on behalf of an account holder of
the QI. The Treasury Department and the
IRS anticipate that the proposed changes
to the QI agreement described in this No-
tice, subject to any modifications based on
comments received, will be included in a
revenue procedure containing the final QI
agreement. The final QI agreement will

Bulletin No. 2022–20 1063 May 16, 2022
apply to QI agreements that are in effect
on or after January 1, 2023, to correspond
with both the applicability date of final
regulations relating to withholding under
sections 1446(a) and (f) and the expiration
of the QI agreement.
Section 2 of this Notice provides back-
ground on the QI agreement and sections
1446(a) and (f). Section 3 of this Notice
describes the highlights of the proposed
changes to the QI agreement. Section 4
of this Notice contains the text of the pro-
posed changes to the QI agreement. Sec-
tion 5 of this Notice provides information
on how to submit comments. Section 6 of
this Notice provides drafting information.
SECTION 2. BACKGROUND
.01 Section 1446(f) Final Regulations.
Sections 864(c)(8) and 1446(f) were
added to the Internal Revenue Code (the
Code) by the Tax Cuts and Jobs Act, Pub.
L. 115-97 on December 22, 2017. Sec-
tion 864(c)(8) generally provides that
gain or loss derived by a foreign person
on the sale or exchange of an interest in
a partnership engaged in a trade or busi-
ness within the United States is treated as
effectively connected gain or loss to the
extent provided in that section. Section
1446(f)(1) generally provides that if any
portion of the gain on any disposition of
an interest in a partnership would be treat-
ed under section 864(c)(8) as effectively
connected with the conduct of a trade or
business within the United States, then the
transferee of the interest must withhold a
tax equal to 10 percent of the amount real-
ized on the disposition.
On November 30, 2020, final regu-
lations (TD 9926) were published in the
Federal Register (85 FR 76910) to im-
plement the withholding requirements of
section 1446(f) (the final regulations). The
final regulations include withholding and
reporting requirements applicable to bro-
kers that pay amounts realized on transfers
made by foreign partners of interests in
PTPs that are publicly traded on an estab-
lished securities market or readily tradable
on a secondary market (or the substantial
equivalent thereof) (PTP interests). The fi-
nal regulations allow brokers an exception
from withholding on amounts realized
paid to QIs that assume primary with-
holding responsibility for these amounts
and provide guidance for brokers paying
amounts realized to QIs that do not as-
sume primary withholding responsibility
(generally allowing the broker to accept
from the QI either payee specific or with-
holding rate pool information). The final
regulations provide brokers other excep-
tions to the withholding requirements, in-
cluding for a foreign partner’s valid claim
for exemption based on an income tax
treaty or partner’s claim of status as a U.S.
person. The final regulations also allow
an exception to withholding (applicable
to any partner) when the PTP publishes
a qualified notice stating the applicability
of a “10-percent exception.” A 10-percent
exception applies when either (i) a PTP’s
net gain from a deemed sale of its assets
under section 864(c)(8) that would be ef-
fectively connected with a trade or busi-
ness in the United States is less than 10%
of the total net gain as of a designation
date applicable to a partner’s transfer of
an interest in the PTP, or (ii) the PTP is
not engaged in a trade or business in the
United States. See §1.1446(f)-4(b) for
these exceptions to withholding. The final
regulations generally define an amount
realized as the gross proceeds (as defined
in §1.6045-1(d)(5)) from a sale of a PTP
interest and the amount of a PTP distribu-
tion that is in excess of the cumulative net
income of the PTP. They also allow a bro-
ker to rely on a certification of a modified
amount realized when a transferor that is a
foreign partnership provides certain infor-
mation with respect to its partners that are
allocated gain from the transfer of a PTP
interest. See §1.1446(f)-4(c)(2)(ii).
The final regulations also amend reg-
ulations under section 1446(a) relating to
distributions by PTPs, which include an
allowance for a QI to act as a nominee for
purposes of assuming primary withhold-
ing responsibilities on a distribution from
a PTP for purposes of section 1446(a) by
assuming primary withholding responsi-
bility for the entire distribution. Similar
to an amount realized paid to a QI that
does not assume primary withholding re-
sponsibility, the final regulations general-
ly permit a PTP or a nominee to rely on
either withholding rate pool information
or specific payee information from a QI
for purposes of section 1446(a) when the
QI does not act as a nominee for a PTP
distribution. The final regulations further
provide a withholding default rule that
applies to a nominee when a PTP either
does not issue a qualified notice for a dis-
tribution or issues a qualified notice that
lacks information necessary to determine
all withholding required on the distribu-
tion. Under Notice 2021-51, 2021-36 IRB
1, the provisions of the final regulations
related to withholding on transfers of PTP
interests and withholding on PTP distribu-
tions apply to transfers and distributions
that occur on or after January 1, 2023.
As a result of the allowances in the
final regulations for QIs to assume with-
holding and reporting responsibilities for
purposes of sections 1446(a) and (f), this
Notice proposes modifications to the QI
agreement to incorporate the requirements
for QIs with respect to sections 1446(a)
and 1446(f). Highlights of the proposed
modifications to the QI agreement are de-
scribed in Section 3 of this Notice.
.02 Overview of QI Agreement.
The QI agreement provides that a QI
may assume primary withholding respon-
sibility under chapters 3 and 4 for certain
payments of U.S. source FDAP income
made to its foreign account holders or
the foreign account holders of another
intermediary by providing a valid quali-
fied intermediary withholding certificate
to its withholding agent and designating
the account(s) for which the QI assumes
primary withholding responsibility. A QI
is not required to assume primary chapter
3 and chapter 4 withholding responsibil-
ity for all accounts it holds with a with-
holding agent. A QI that does not assume
primary chapter 3 and chapter 4 withhold-
ing responsibility for an account provides
to its withholding agent a valid QI with-
holding certificate that indicates that the
QI does not assume primary withholding
responsibilities under chapters 3 and 4
and attaches a withholding statement that
includes withholding rate pool informa-
tion (i.e., aggregate information about the
account holders and the withholding rate
applicable to each pool). Notwithstanding
a QI’s allowance not to assume primary
withholding responsibilities, a QI is still
required to withhold if it knows that the
appropriate amount has not been withheld
by another withholding agent or if the QI
made an error that results in withholding
at less than the correct amount. For deter-
mining the amount to withhold, a QI may

May 16, 2022 1064 Bulletin No. 2022–20
generally document account holders by
obtaining either withholding certificates
or documentary evidence under a coun-
try’s approved “know your customer”
rules. In a case in which overwithholding
is applied on a payment, a QI is generally
permitted to file a collective refund on be-
half of its foreign account holders that are
entitled to a refund of the tax withheld. Fi-
nally, a QI is generally permitted to report
on Forms 1042-S on a pooled basis rather
than file and furnish a Form 1042-S with
respect to each account holder.
Withholding under section 1446(a) is
not currently within the scope of a QI’s
requirements under the QI agreement. As
a result, a QI is not currently permitted to
act as a QI with respect to an amount sub-
ject to withholding under section 1446(a)
on a PTP distribution received on behalf
of an account holder. The proposed mod-
ifications set forth in Section 4 of this
Notice would extend the scope of the QI
agreement to include sections 1446(a) and
1446(f).
SECTION 3. HIGHLIGHTS OF THE
PROPOSED MODIFICATIONS TO
THE QI AGREEMENT
.01 Withholding under sections 1446(a)
and (f).
The proposed modifications to sec-
tion 3 of the QI agreement provide gen-
eral requirements for QIs with respect to
withholding under sections 1446(a) and
(f). QIs are permitted to assume primary
withholding responsibility under sections
1446(a) and (f) on a payment-by-payment
basis based on a valid withholding certif-
icate permitted under the modifications to
section 6 of the QI Agreement and without
regard to whether the QI assumes with-
holding under chapters 3 and 4 for pay-
ments other than PTP distributions. The
modifications to section 3 of the QI agree-
ment specifically provide that a QI that
assumes primary withholding responsi-
bility on any portion of a PTP distribution
will be required to assume withholding
responsibilities for the entire distribution.
The modifications also reference each of
the amounts subject to withholding on a
PTP distribution and how a QI is to deter-
mine each amount for purposes of with-
holding. For cases in which a QI does
not assume primary withholding under
section 1446(a) or (f) for a payment, a QI
is permitted to provide to its withholding
agent the withholding statements and oth-
er information described in the modifica-
tions to section 6 of the QI agreement and
is subject to the same residual withholding
requirement that applies to its withholding
under chapter 3 or 4 when another with-
holding agent withholds less than the re-
quired amount.
.02 Documentation for purposes of sec-
tions 1446(a) and (f).
Under the modifications to section 5
of the QI agreement, a QI is permitted to
document the status of an account hold-
er that is a partner in a PTP as a foreign
or U.S. person for purposes of sections
1446(a) and (f) under requirements gen-
erally similar to those for payments sub-
ject to chapter 3 or 4 withholding (that
is, using either documentary evidence or
withholding certificates). However, when
a QI acts as a disclosing QI by providing
specific partner documentation to a with-
holding agent for withholding under the
final regulations, the QI is permitted to
document the status of an account holder
based on only a withholding certificate.
See section 3.03 of this Notice. A QI must
also document an account holder using
only a withholding certificate for purposes
of applying an exception to withholding
under section 1446(a) or (f) based on an
account holder’s claim under an income
tax treaty or for applying an exception
to withholding under section 1446(a) for
an entity described in section 501(c). The
modifications also include requirements
for QIs to document nonqualified interme-
diaries, flow-through entities, and other
QIs to which a QI pays amounts realized
or PTP distributions and describe how a
QI reliably associates the documentation
with payments made to account holders
or interest holders in those entities. A lim-
itation rule is added, however, that a QI
may not reliably associate a payment of
an amount realized under section 1446(f)
with the account holders of a nonqualified
intermediary regardless of whether specif-
ic information about the account holders
of the nonqualified intermediary is provid-
ed to the QI. If a QI is unable to reliably
associate a payment of an amount realized
or an amount subject to withholding un-
der section 1446(a) on a PTP distribution
with valid documentation, the QI must
treat the account holder as a foreign per-
son under the presumption rule added to
section 5.13(C)(5) of the QI agreement
and withhold at the applicable rate under
section 1446(a) or (f) except when backup
withholding under section 3406 would ap-
ply to an amount realized. See §1.1446(f)-
4(b)(4) for coordinating withholding un-
der sections 3406 and 1446(f).
.03 QI withholding certificates and
withholding statements.
The modifications to section 6 of the QI
agreement allow a QI to furnish a qualified
intermediary withholding certificate when
paid an amount realized or PTP distribu-
tion. When a QI does not assume primary
withholding responsibility under section
1446(a) or (f), the QI must also provide
to its withholding agent a withholding
statement that includes either withholding
rate pools or specific payee information
(and associated payee documentation) in
lieu of withholding rate pool information
when acting as a disclosing QI. If a QI
provides withholding rate pool informa-
tion to a withholding agent with respect
to an amount realized, however, the QI
may combine the withholding rate pool
information for its account holders with
the account holders of another interme-
diary only if the intermediary is a QI. In
the case of a PTP distribution, a QI must
determine its withholding rate pools based
on each amount subject to withholding on
the distribution as determined by the QI’s
withholding agent.
.04 Reporting on Form 1042-S.
Under the modifications to section
8 of the QI Agreement, a QI may file
Forms 1042-S on a pooled basis to report
amounts realized and amounts subject to
withholding on PTP distributions to the
same extent generally permitted for other
payments covered by the QI agreement. If
a QI acts as a disclosing QI, however, the
withholding agent or broker for the QI is
required to file Forms 1042-S with respect
to the account holders of the QI that are
partners in a PTP, and the QI is not required
to file a Form 1042-S unless it knows or
has reason to know that a correct Form
1042-S was not issued to a partner. If a QI
is provided account holder documentation
from another QI acting as a disclosing QI,
the QI is also required to report on Form
1042-S with respect to the account holder
when the QI assumes primary withholding

Bulletin No. 2022–20 1065 May 16, 2022
responsibility. In cases in which a QI does
not act as a disclosing QI it must also issue
a separate Form 1042-S when requested
by an account holder under the conditions
specified in the modifications. The mod-
ifications also include the conditions for
a QI to issue a separate Form 1042-S to
report an amount realized paid to an ac-
count holder of a nonqualified intermedi-
ary rather than to an unknown recipient
(despite that reliance on account holder
documentation is not permitted for the
withholding) and require a QI to issue a
separate Form 1042-S to an account hold-
er of a nonqualified intermediary to which
the QI pays a PTP distribution.
.05 Requirements under §1.6031(c)-1T.
In general, under §1.6031(c)-1T(a), a
nominee holding an interest in a partner-
ship directly or indirectly on behalf of
another person is required to provide to
the partnership (or agent designated by
the partnership or another nominee) cer-
tain information about the nominee and
the person on whose behalf the nominee
holds an interest (including the name, ad-
dress, taxpayer identification number of
the nominee and such other person, and a
description of any interest in the partner-
ship that the nominee holds, acquires, or
transfers on behalf of such other person
during the partnership taxable year). If a
nominee does not provide the informa-
tion described in the preceding sentence
with respect to such other person, under
§1.6031(c)-1T(h) the nominee is in gen-
eral required to provide to the person a
statement covering the person’s distrib-
utive share of partnership income, gain,
loss, deduction, or credit required to be
shown on the partnership return, and any
additional information as required under
the Code with respect to items related to
the person’s interest in the partnership.
The provisions of §1.6031(c)-1T are
incorporated into the QI agreement in new
section 8.07 to facilitate the U.S. tax fil-
ings of foreign partners required to report
effectively connected income from their
holdings and sales of PTP interests (which
apply regardless of whether the tax due
is withheld). The modifications require
a QI acting as a disclosing QI to provide
to the PTP or QI’s nominee the statement
described in §1.6031(c)-1T(a) with re-
spect to an account holder holding a PTP
interest (including an account holder that
is an intermediary in certain cases). In oth-
er cases, a QI may provide the statement
described in the preceding sentence to the
PTP or may instead provide the statement
to the account holder that is described in
§1.6031(c)-1T(h) with respect to the ac-
count holder’s PTP interest. The QI must
also facilitate the account holder’s receipt
of deemed sale information for purposes
of section 864(c)(8) when requested.
.06 Private arrangement intermediaries
and agency and joint account options for
partnerships and trusts.
The modifications add to the proce-
dures under section 4 of the QI agree-
ment for QIs that maintain arrangements
with private arrangement intermediaries
(PAIs) that hold PTP interests for account
holders and provide the cases for which a
QI may use the agency and joint options
when paying a PTP distribution or amount
realized to a partnership or trust. A QI is
permitted to withhold on payments of
amounts realized and PTP distributions
made to a PAI under requirements similar
to those that apply in the case of a disclos-
ing QI that is an account holder of a QI
(rather than allow the PAI to assume pri-
mary withholding or provide withholding
rate pools). As a result of this treatment,
a QI may determine its withholding on an
amount realized paid to a PAI by refer-
ence to the statuses of the PAI’s account
holders (rather than treat the PAI as a
nonqualified intermediary as described in
section 3.02 of this Notice) and must sat-
isfy the requirements of §1.6031(c)-1T(a)
with respect to each PAI account holder
to which a QI pays an amount realized
or PTP distribution during the year. A QI
may apply the agency option with respect
to a foreign partnership providing a cer-
tification for a modified amount realized
or for an amount subject to withholding
under section 1446(a) on a PTP distribu-
tion unless the partnership is a PTP (as an
upper-tier PTP is not permitted to provide
partner information to a lower-tier PTP
for section 1446(a) withholding). With re-
spect to a trust, a QI may apply the agen-
cy option only for a trust that is a grantor
trust given that a simple trust is not per-
mitted to provide beneficiary information
for section 1446(a) or (f) withholding. In
cases for which the agency option is not
specifically permitted, a QI is not other-
wise required to provide information to a
withholding agent or report with respect
to the interest holders in a partnership
or trust under the regulations to sections
1446(a) and (f) (such that the agency op-
tion has no application). However, the
modifications do not permit a QI to use
the joint account option for payments of
PTP distributions or amounts realized. As
the use of this option is not otherwise per-
mitted when a partnership or trust has a
U.S. partner, owner or beneficiary, its use
would be of limited application if applied
to those payments.
.07 Refunds and underwithholding.
Given the filing requirements of for-
eign partners for reporting their effective-
ly connected income referenced in section
3.05 of this Notice, a QI is not permitted
to file a collective refund with respect
to withholding under section 1446(a) or
(f). If a QI overwithholds under section
1446(a) or (f), the QI may apply the re-
imbursement and set-off procedures to the
same extent permitted for chapters 3 and
4 purposes. If a QI does not withhold at
the rate required under section 1446(a) or
(f), the QI may apply the procedures for
underwithholding that apply for purposes
of chapters 3 and 4.
.08 Events of default and material
failures.
The modifications include material fail-
ures for cases in which a QI fails to with-
hold as required under sections 1446(a)
and (f) or fails to comply with the report-
ing requirements of new section 8.07. The
modifications include similar events of
default for when a QI fails to comply ma-
terially with either of those requirements.
SECTION 4. TEXT OF PROPOSED
CHANGES TO THE QI AGREEMENT
The text of the proposed changes to
the QI agreement is set forth below and
includes each section of the QI agreement
that is proposed to be modified by this
Notice (adding as applicable new sections
and revising certain section headings).
The Treasury Department and the IRS in-
tend to incorporate the provisions of this
Section 4 and additional requirements for
QIs under sections 1446(a) and (f) (such
as the periodic review requirements of QIs
relevant to those sections) into the revised
QI agreement that is to apply beginning
with the 2023 calendar year. Comments

May 16, 2022 1066 Bulletin No. 2022–20
relating to this Section 4 are requested, in
particular with respect to the procedures
of proposed section 8.07. Comments are
further requested with respect to addition-
al compliance procedures that should be
added to section 10 of the QI agreement
for purposes of sections 1446(a) and
(f) and to Appendices I and II to the QI
agreement for this purpose. See Section 5
of this Notice.
* * *
SECTION 2. DEFINITIONS
* * *
Sec. 2.04. Amount Subject to Chap-
ter 3 Withholding. An “amount subject
to chapter 3 withholding” is an amount
described in §1.1441-2(a) regardless of
whether such amount is withheld upon.
Unless indicated otherwise in this Agree-
ment, an amount subject to chapter 3
withholding includes an amount sub-
ject to chapter 3 withholding on a PTP
distribution. See section 2.92(C) of this
Agreement.
Sec. 2.05. Amount Subject to Chap-
ter 4 Withholding. An “amount subject
to chapter 4 withholding” is a withhold-
able payment (as defined in §1.1473-
1(a)) for which withholding is required
under chapter 4 or an amount for which
withholding was otherwise applied un-
der chapter 4. Unless indicated otherwise
in this Agreement, an amount subject to
chapter 4 withholding includes such an
amount subject to chapter 4 withholding
on a PTP distribution. See section 2.92(C)
of this Agreement
* * *
Sec. 2.08. Beneficial Owner. A “ben-
eficial owner” has the meaning given to
that term in §1.1441-1(c)(6) with respect
to a payment subject to withholding under
chapter 3.
* * *
Sec. 2.31. Flow-Through Entity. * * *
For an amount realized or amount subject
to withholding under section 1446(a) on
a PTP distribution, a flow-through entity
includes a U.S. grantor trust.
* * *
Sec. 2.92. Terms applicable to sec-
tion 1446(a) and (f) requirements. The
following terms apply in connection with
QI’s requirements with respect to QI’s ac-
count holders holding PTP interests:
(A) Amount realized. For purposes
of section 1446(f), an amount realized
on a sale of a PTP interest is the amount
of gross proceeds (as defined in §1.6045-
1(d)(5)) paid or credited to the partner or
broker that is the transferor of the interest.
The amount realized on a PTP distribution
is the amount of the distribution reduced
by the portion of the distribution that is
attributable to the cumulative net income
of the partnership (as determined under
§1.1446(f)-4(c)(2)(iii)).
(B) Amount subject to reporting un-
der section 1446(f). An amount subject
to reporting under section 1446(f) is the
amount realized on the transfer of a PTP
interest paid to a foreign partner (includ-
ing a partner presumed to be foreign) un-
less an exception to withholding applies
under §1.1446(f)-4(b)(2) through (4). See
§1.1461-1(c)(2)(i)(Q).
(C) Amount subject to withholding
on a PTP distribution. An amount sub-
ject to withholding on a PTP distribution
is the amount of the distribution subject to
withholding under chapter 3 or 4 and/or
under section 1446(a) or (f).
(D) Broker. The term broker has the
meaning described in §1.1446(f)-1(b)(1),
when referenced in connection with the
transfer of a PTP interest.
(E) Disclosing QI. For purposes of
section 1446(a) or (f), a disclosing QI
is a QI that does not assume the prima-
ry withholding obligation under section
1446(a) or (f) for a payment and that
provides with its withholding statement
the specific payee documentation refer-
enced in §1.1446(f)-4(a)(7)(iii) (for an
amount realized) or §1.1446-4(e)(4) (for
withholding on a PTP distribution under
section 1446(a)) instead of the chapter 3
withholding rate pool information oth-
erwise permitted to be included on the
withholding statement and, for an amount
realized, a chapter 4 withholding rate pool
of U.S. payees when permitted for chapter
4 purposes in lieu of specific payee docu-
mentation for those payees. A QI that acts
as a disclosing QI for a payment must act
as a disclosing QI for the entire payment.
(F) Modified amount realized. In
the case of an amount realized paid to a
transferor of a PTP interest that is a for-
eign partnership, the modified amount
realized is the amount determined under
§1.1446(f)-4(c)(2)(ii), as modified by
section 4.06 or 5 of this Agreement with
respect to the partner information required
for determining the amount.
(G) Nominee. The term nominee
means a person that, under §1.1446-4(b)
(3), holds an interest in a PTP on behalf of
a foreign person and that is either a U.S.
person or QI that assumes primary with-
holding responsibility for a PTP distribu-
tion, or a U.S. branch of a foreign person
(or territory financial institution) that
agrees to be treated as a U.S. person with
respect to the distribution.
(H) Partner. When referenced in con-
nection with sections 1446(a) and (f), a
partner is a person holding a PTP interest,
including a partnership or trust but ex-
cluding a grantor trust and including the
trust’s grantors or owners to the extent of
their respective interests in the trust, and
excluding an intermediary. When refer-
enced in connection with §1.6031(c)-1T,
a partner is a person to whom a partner-
ship is required to issue a statement under
section 6031(b). See section 8.07 of this
Agreement.
(I) PTP interest. A PTP interest is an
interest in a publicly traded partnership if
the interest is publicly traded on an estab-
lished securities market or is readily trad-
able on a secondary market (or the sub-
stantial equivalent thereof).
(J) PTP distribution. A PTP distribu-
tion is a distribution made by a publicly
traded partnership.
(K) Publicly traded partnership
(PTP). The term publicly traded part-
nership (PTP) has the same meaning as
in section 7704 and §§1.7704-1 through
1.7704-4 but does not include a publicly
traded partnership treated as a corporation
under that section.
(L) Qualified notice. A qualified no-
tice is a notice issued by a PTP for a PTP
distribution as described in §1.1446-4(b)
(4).
(M) Transfer. A transfer is a sale, ex-
change, or other disposition of a PTP in-
terest, and includes a distribution from
a partnership to a partner, as well as a
transfer treated as a sale or exchange un-
der section 707(a)(2)(B). With respect to
a PTP distribution, however, see sections
2.92(A) and 3.01(C)(2) of this Agreement
for the extent of an amount realized on the
distribution for purposes of QI’s require-
ment to withhold under section 1446(f).

Bulletin No. 2022–20 1067 May 16, 2022
(N) Transferor. A transferor is any
person, foreign or domestic, that transfers
a PTP interest. In the case of a trust, to the
extent all or a portion of the income of the
trust is treated as owned by the grantor or
another person under sections 671 through
679, the term transferor means the grantor
or other person.
SECTION 3. WITHHOLDING
RESPONSIBILITY AND QDD TAX
LIABILITY
Sec. 3.01. Withholding Responsibili-
ties under Chapters 3 and 4 and With-
holding with respect to PTP Interests.
* * *
(C) Withholding under section
1446(f) and on PTP Distributions.
(1) Withholding on Amount Real-
ized. If QI acts as a broker with respect to
a payment of an amount realized from a
transfer of a PTP interest, QI is required to
withhold under section 1446(f) 10-percent
of the amount realized paid to an account
holder of QI that is the transferor and
is (or is presumed to be) a foreign part-
ner when QI assumes primary withhold-
ing responsibility for the payment under
section 3.03(C)(1) of this Agreement. QI
is further required to withhold on a pay-
ment of an amount realized made to a
foreign broker to the extent provided in
§1.1446(f)-4(a)(2). QI is not required to
withhold on a payment of an amount re-
alized when an exception to withholding
under §1.1446(f)-4(b) applies. Thus, for
example, QI is not required to withhold
under section 1446(f) when it may rely on
a qualified notice that states the applica-
bility of the exception under §1.1446(f)-
4(b)(3). See section 5 of this Agreement
regarding documentation requirements
for other exceptions to withhold under
§1.1446(f)-4(b).
(2) Withholding under chapter 3,
chapter 4, section 1446(a), and section
1446(f) on PTP distribution. If QI acts
as a nominee for a PTP distribution under
section 3.03(C)(2) of this Agreement, QI
is a withholding agent for purposes of the
distribution and is required to withhold as
described in this section 3.01(C)(2). For
an amount subject to withholding under
section 1446(a) identified on a qualified
notice for a PTP distribution, QI is re-
quired to withhold on the amount paid to
an account holder that is (or is presumed
to be) a foreign partner except when an
exception to withholding applies to an
account holder that is a foreign entity de-
scribed in section 501(c)(3) or that claims
an exemption from withholding under an
income tax treaty. See sections 5.03 and
5.06(A) of this Agreement for documenta-
tion requirements for these exceptions and
section 1446(b) for the rate of withhold-
ing that applies under section 1446(a). For
an amount subject to withholding under
chapter 3 and 4 on a PTP distribution,
QI is required to withhold under sections
3.01(A) and (B) of this Agreement to the
extent such amounts are identified on a
qualified notice for the distribution. For
an amount realized on a PTP distribution,
QI’s requirement to withhold under sec-
tion 1446(f) is limited to the amount iden-
tified on a qualified notice as in excess of
the PTP’s cumulative net income. If QI
does not receive a qualified notice for a
distribution or to the extent the qualified
notice for the distribution does not spec-
ify an amount subject to withholding, QI
is required to withhold only to the extent
provided in the default rules in §1.1446-
4(d)(1).
Sec. 3.02. Primary Withholding Re-
sponsibility Not Assumed under Chap-
ters 3 and 4 or with respect to PTP
interests. Notwithstanding anything in
sections 1.01 and 3.01 of this Agreement
to the contrary, QI is not required to with-
hold to the extent provided in this section
3.02.
(A) Withholding under Chapters
3 and 4. QI is not required to withhold
with respect to a payment of U.S. source
FDAP income if it: (a) does not assume
primary withholding responsibility un-
der section 3.03(A) of this Agreement
by electing to be withheld upon under
§1.1471-2(a)(2)(iii) for purposes of chap-
ter 4, (b) provides the withholding agent
from which QI receives the payment with
a valid withholding certificate that indi-
cates that QI does not assume primary
withholding responsibility for chapters 3
and 4 purposes, and (c) provides correct
withholding statements (including infor-
mation regarding any account holders
or interest holders of an intermediary or
flow-through entity that holds an account
with QI, other than a QI that assumes pri-
mary withholding responsibility, or a WP
or WT) as described in section 6.02 of
this Agreement.
(B) Withholding with respect to PTP
interest. QI is not required to withhold
on a payment of a PTP distribution or an
amount realized from the sale of a PTP
interest except when QI assumes prima-
ry withholding responsibility for either
of those payments under section 3.03(C)
(1) or (2) of this Agreement. QI does not
assume primary withholding responsibili-
ty for a payment of a PTP distribution or
amount realized from the sale of a PTP
interest by providing to its withholding
agent or broker a valid withholding certif-
icate indicating that it is a QI that does not
assume primary withholding responsibil-
ity for the payment and provides correct
withholding statements as described in
section 6.02 of this Agreement. See sec-
tion 3.05(C) of this Agreement for when
QI is not responsible for primary Form
1099 reporting and backup withholding
for broker proceeds that are an amount
realized.
(C) Residual Withholding Require-
ment. Notwithstanding its election not to
assume primary withholding responsibil-
ity for a payment as described in section
3.02(A) or (B) of this Agreement, QI shall,
however, withhold the difference between
the amount of withholding required and
the amount actually withheld by another
withholding agent if QI—
(1) Actually knows that the appropriate
amount has not been withheld by another
withholding agent or broker; or
(2) Made an error which results in the
withholding agent or broker’s failure to
withhold the correct amount due (e.g., QI
fails to provide an accurate withholding
statement with respect to the payment,
including a failure to provide information
regarding any account holders or inter-
est holders of an intermediary or flow-
through entity that holds an account with
QI to the extent required in section 6 of
this Agreement), and QI has not corrected
the underwithholding under section 9.05
of this Agreement.
Sec. 3.03. Assumption of Primary
Withholding Responsibilities under
chapters 3 and 4 (including by QDDs)
or with respect to PTP interest.
(A) Withholding Assumed under
Chapters 3 and 4. QI may assume pri-
mary withholding responsibility for

May 16, 2022 1068 Bulletin No. 2022–20
purposes of chapters 3 and 4 by provid-
ing a valid withholding certificate de-
scribed in section 6 of this Agreement
to a withholding agent that makes a pay-
ment of U.S. source FDAP income to QI
and by designating on the withholding
statement associated with such certifi-
cate the account(s) for which QI assumes
primary withholding responsibility (if
required). QI is not required to assume
primary withholding responsibility for
all accounts it holds with a withholding
agent. If QI assumes primary withhold-
ing responsibility for any account, it must
assume that responsibility under chapters
3 and 4 for all withholdable payments
and amounts subject to chapter 3 with-
holding made by the withholding agent
to that account. Notwithstanding the
preceding sentence, QI assumes prima-
ry withholding responsibility on a PTP
distribution (which includes an amount
subject to withholding under chapter 3 or
4 on the distribution) only as provided in
section 3.03(C)(2) of this Agreement.
* * *
To the extent that QI assumes prima-
ry withholding responsibility under this
section 3.03(A), QI shall withhold as de-
scribed in section 3.01(A) and (B) of this
Agreement. QI is not required to withhold
on amounts it pays to another QI that has
assumed primary withholding responsi-
bility with respect to the payment under
chapters 3 and 4 (including a QI acting as
a QDD except for all payments with re-
spect to underlying securities, other than
dividend equivalents, paid to a QDD for
which withholding is required) or to a WP
or a WT.
* * *
(C) Withholding Assumed with re-
spect to PTP Interest.
(1) Withholding Assumed on Amount
Realized. QI may assume primary with-
holding responsibility for a payment of
an amount realized from the sale of a PTP
interest only when the QI provides to the
broker making the payment to QI a val-
id withholding certificate described in
section 6 of this Agreement stating that
it assumes primary responsibility for the
payment. In such a case, QI is required to
withhold on the payment as described in
section 3.01(C)(1) of this Agreement, ex-
cluding an amount realized paid to another
QI that has assumed primary withholding
responsibility with respect to the amount
realized.
(2) Withholding Assumed on PTP
Distribution. QI may assume primary
withholding responsibility for a payment
of a PTP distribution only when the QI
provides to the PTP or nominee paying
the distribution to QI a valid withholding
certificate described in section 6 of this
Agreement stating that QI assumes pri-
mary responsibility by acting as a nom-
inee for the distribution under §1.1446-
4(b)(3). QI may act as a nominee for a
PTP distribution only when QI assumes
primary withholding responsibility for
all of the amounts subject to withholding
on the PTP distribution under sections
1446(a) and (f) and chapters 3 and 4.
When acting as a nominee, QI is required
to withhold on a PTP distribution as re-
quired under section 3.01(C)(2) of this
Agreement, excluding a PTP distribu-
tion paid to another QI that has assumed
primary withholding responsibility as
a nominee with respect to the distribu-
tion or to a WP or WT with respect to
an amount subject to withholding under
chapter 3 or 4 on the distribution.
* * *
Sec. 3.05. Primary Form 1099 Re-
porting and Backup Withholding Re-
sponsibility for Reportable Payments
Other Than Reportable Amounts.
* * *
(C) Special Procedure for Broker
Proceeds.
* * *
Notwithstanding the preceding provi-
sions, for a payment of broker proceeds
that is an amount realized from the sale
of a PTP interest, QI will not be except-
ed from responsibility for primary Form
1099 reporting and backup withholding
(as otherwise permitted in this section
3.05(C)) if QI also provides a valid with-
holding certificate to the broker paying the
proceeds to QI that indicates that QI as-
sumes primary withholding responsibility
for the amount realized.
* * *
Sec. 3.08. Deposit Requirements.
* * *
The deposit requirements of this sec-
tion 3.08 that apply to amounts that QI
withholds under chapter 3 and 4 also ap-
ply to the extent that QI assumes primary
withholding responsibility for a payment
of a PTP distribution or amount realized
from the sale of a PTP interest.
SECTION 4. PRIVATE
ARRANGEMENT
INTERMEDIARIES AND CERTAIN
PARTNERSHIPS AND TRUSTS
Sec. 4.01. Private Arrangement In-
termediaries–In General.
* * *
(G) * * * The limitations on a PAI’s
disclosure of its direct account holders to
QI described in this section 4.01(G) do
not, however, apply with respect to the
PAI’s direct account holders’ receipt of
payments of PTP distributions or amounts
realized from sales of PTP interests. For
either such payment, a PAI is required to
disclose to QI its direct account holders
and provide any information requested by
QI for QI to meet its withholding and re-
porting requirements specified in section
4.02(D) of this Agreement.
Sec. 4.02. Modification of Obliga-
tions for PAI Agreements.
(A) Payments Reportable under
Chapters 3 and 4. * * *
(2) A direct foreign account holder of
the PAI for which no withholding is re-
quired under chapter 4 (other than an in-
termediary, custodian, nominee, agent, or
flow-through entity described below), QI
shall, except as otherwise provided in sec-
tion 4.02(D) of this Agreement, report an
amount subject to chapter 3 withholding
using the chapter 3 reporting pools as de-
scribed in section 8.03 of this Agreement
with the PAI reported as the recipient.
* * *
(D) Payments of Amounts Realized
or PTP Distributions. The agreement
between QI and a PAI must provide
that QI will satisfy the requirements of
§1.6031(c)-1T as set forth in section 8.07
of this Agreement with respect to each
account holder of PAI that is a partner
receiving from QI a PTP distribution or
amount realized from the sale of a PTP in-
terest for which a statement under section
6031(b) is required for the taxable year
(and for which the PAI will provide QI
the necessary partner information). The
agreement between QI and a PAI must
further provide that QI shall treat PAI as
if PAI were a disclosing QI with respect to
both of the following—

Bulletin No. 2022–20 1069 May 16, 2022
(1) QI’s reporting on Forms 1042 and
1042-S of an amount realized from the
sale of a PTP interest or an amount sub-
ject to withholding on a PTP distribu-
tion paid to a direct account holder of
PAI (as further described in section 8
of this Agreement), and
(2) QI’s determination of the withhold-
ing required on any such amount.
Sec. 4.03. Other Requirements of
PAI Agreements
* * *
Finally, nothing in the agreement be-
tween QI and a PAI shall permit the PAI
to assume primary withholding responsi-
bility for a PTP distribution or an amount
realized from the sale of a PTP interest.
* * *
Sec. 4.05. Joint Account Treatment
for Certain Partnerships and Trusts
* * *
(B) Modification of Obligations for
QI.
(1) * * * QI may not, however, rely on
a Form W-8IMY that is associated with a
PTP distribution or amount realized from
the sale of a PTP interest for purposes of
this section 4.05.
Sec. 4.06. Agency Option for Certain
Partnerships and Trusts.
(A) In General.
* * *
(6) For a partnership or trust to which
QI pays an amount subject to withholding
under section 1446(a) on a PTP distribu-
tion, the partnership is not a PTP, and the
trust is a grantor trust (with the partner-
ship or trust providing its U.S. TIN to QI).
For a partnership or trust to which QI pays
an amount realized, the partnership is a
partnership providing a certification for
a modified amount realized, and the trust
is a grantor trust (with the partnership or
trust providing its U.S. TIN to QI).
* * *
SECTION 5. DOCUMENTATION
REQUIREMENTS
Sec. 5.01. Documentation Require-
ments.
(A) General Documentation Re-
quirements.
* * *
If QI makes a payment of an amount
realized on a sale of a PTP interest or a
PTP distribution, QI also agrees to use its
best efforts to obtain the documentation
from a partner that is described in section
5.02 of this Agreement. QI further agrees
to treat a partner as a foreign partner and a
broker as a foreign broker when required
under section 5.13(C)(5) of this Agree-
ment for a payment of an amount realized
or the amount of a PTP distribution sub-
ject to withholding under section 1446(a).
* * *
Sec. 5.02. Documentation for Foreign
Account Holders. (A) Documentation
for chapters 3 and 4. QI may treat an ac-
count holder as a foreign beneficial own-
er of an amount for purposes of chapter 3
or 4 if the account holder provides a val-
id Form W-8 (other than Form W-8IMY
unless provided by a QI that is acting as
a QDD or assuming primary withholding
responsibility for a substitute interest pay-
ment) or valid documentary evidence that
supports the account holder’s status as a
foreign person.
* * *
(B) Documentation for Section
1446(a). QI must treat an account holder
that is a partner receiving a payment of a
PTP distribution subject to withholding
under section 1446(a) as a foreign part-
ner if the account holder provides a val-
id Form W-8 other than a Form W-8IMY
provided by an intermediary, grantor trust,
or partnership (excluding a PTP) that in-
cludes the account holder’s U.S. TIN. Al-
ternatively, QI must treat an account hold-
er described in the preceding sentence as
a foreign partner when QI has both valid
documentary evidence that supports the
account holder’s status as a foreign per-
son and the account holder’s U.S. TIN.
See, however, §1.1446-4(e)(4) for QI’s
requirement to provide withholding certif-
icates for the amount of a PTP distribu-
tion subject to withholding under section
1446(a) when acting as a disclosing QI.
(C) Documentation for Section
1446(f). QI must treat an account holder
receiving a payment of an amount realized
as a foreign partner if the account hold-
er provides a valid Form W-8 (other than
a Form W-8IMY provided by a grantor
trust, broker, or a partnership providing
the certification on Form W-8IMY for a
modified amount realized) that includes
the account holder’s U.S. TIN. Alterna-
tively, QI must treat an account holder
described in the preceding sentence as a
foreign partner when QI has both valid
documentary evidence that supports the
account holder’s status as a foreign per-
son and the account holder’s U.S. TIN.
See, however, §1.1446(f)-4(a)(7)(iii) for
QI’s requirement to provide withholding
certificates when acting as a disclosing QI
for an amount realized. With respect to an
amount realized QI pays to a broker, QI
may rely on documentation that is permit-
ted under §1.1446(f)-4(a)(5) for treating
the broker as a foreign person.
* * *
Sec. 5.03. Beneficial Owner’s or
Partner’s Claim of Treaty Benefits.
* * *
If an account holder that is a foreign
partner receives an amount subject to
withholding under section 1446(a) on a
PTP distribution or an amount realized,
the documentation described in section
5.03(A)(1) of this Agreement shall be
permitted for the partner’s claim of treaty
benefits and sections 5.03(A)(2) and (3) of
this Agreement shall not apply. See, how-
ever, section 5.07 of this Agreement in the
case of an amount realized paid to a non-
qualified intermediary.
* * *
Sec. 5.04. Documentation for Inter-
national Organizations. * * *
For example, an international organiza-
tion may not claim benefits under this sec-
tion 5.04 with respect to QI’s requirement
to withhold under section 1446(a) or (f).
Sec. 5.05. Documentation for For-
eign Governments and Foreign Central
Banks of Issue.
(A) Documentation From a Foreign
Government or Foreign Central Bank
of Issue Claiming an Exemption from
Withholding Under Section 892 or Sec-
tion 895. To the extent an account holder
receives a payment subject to withholding
under chapter 3 that is not subject to with-
holding under chapter 4, * * *
* * *
(C) * * * For example, a foreign gov-
ernment or foreign central bank of issue
may not claim benefits under section 892
with respect to QI’s requirement to with-
hold under section 1446(a) or (f).
Sec. 5.06. Documentation for For-
eign Tax-Exempt Organizations. To the
extent an account holder receives a pay-
ment that is subject to withholding under
chapter 3 or section 1446(a) on a PTP

May 16, 2022 1070 Bulletin No. 2022–20
distribution but not under chapter 4, QI
may not treat an account holder as a for-
eign tax-exempt organization and reduce
the rate of or exempt the account holder
from withholding unless it satisfies the
requirements provided in section 5.06(A),
(B), or (C) of this Agreement.
* * *
Sec. 5.07. Documentation from In-
termediaries or Flow-Through Entities.
* * *
Notwithstanding the previous provi-
sions of this section 5.07, for an amount
realized paid to a nonqualified intermedi-
ary, QI is required to apply the presump-
tion rule provided in section 5.13(C)(5) of
this Agreement regardless of whether the
nonqualified intermediary provides a val-
id Form W-8IMY and documentation with
respect to the account holders receiving
the amount realized.
* * *
(B) Reportable Payments Other than
Withholdable Payments or Payments
with respect to PTP interests Made to
Nonqualified Intermediaries and Flow-
Through Entities. With respect to a re-
portable payment that is not a withhold-
able payment or an amount realized made
to a nonqualified intermediary or flow-
through entity— * * *.
(C) Payments with respect to PTP
Interests Made to Nonqualified Inter-
mediaries and Flow-Through Entities.
(1) Amount Realized. With respect to
a payment by QI of an amount realized
from the sale of a PTP interest made to
a flow-through entity or nonqualified in-
termediary, the documentation that QI
receives is a valid Form W-8IMY from
the entity except for a foreign simple trust
(for which a Form W-8BEN-E may in-
stead be received) and a U.S. grantor trust
(for which a document similar to Form
W-8IMY may be received). In the case of
a foreign partnership providing the certi-
fication on Form W-8IMY for a modified
amount realized, QI is required to obtain
from the partnership the documentation
described in this section 5 with respect to
the partners that QI can reliably associate
with the payment. For a grantor trust to
which QI pays an amount realized, QI is
further required to obtain valid documen-
tation described in this section 5 that QI
can reliably associate with each grantor or
owner of the trust.
(2) PTP distribution. With respect
to a payment by QI of a PTP distribu-
tion to a nonqualified intermediary, the
documentation that QI receives from the
intermediary is a valid Form W-8IMY
(including its chapter 4 status for an
amount of a distribution attributable to
a withholdable payment) and documen-
tation for each of the account holders of
the nonqualified intermediary that are
partners in the PTP that QI can reliably
associate with each amount subject to
withholding on the distribution (includ-
ing by applying section 5.13(B)(1) of
this Agreement for any amount realized
on the distribution). With respect to a
payment by QI of a PTP distribution to a
flow-through entity, the documentation
that QI receives from the flow-through
entity is as follows—
(i) For the amount of the distribution
subject to withholding under section
1446(a) made to a foreign partnership,
QI receives a valid Form W-8IMY
from the partnership and, for a foreign
partnership other than a PTP, valid doc-
umentation described in this section
5 on each of the partners in the part-
nership that QI can reliably associate
with the distribution. See §§1.1446-
4 and 1.1446-5(c). For the portion of
the distribution subject to withholding
under section 1446(a) made to a trust,
QI receives a valid Form W-8BEN-E
or W-8IMY from a simple trust or, in
the case of a foreign grantor trust, a
valid Form W-8IMY from the trust (or
similar document from a U.S. grantor
trust) and valid documentation on each
grantor or owner of the trust permit-
ted under this section 5 for a payment
subject to section 1446(a) withholding
that QI can reliably associate with the
distribution.
(ii) For the amount of the distribution
subject to withholding under chapter 3
or 4, QI receives a valid Form W-8IMY
from the flow-through entity (which
includes the entity’s chapter 4 status
with respect to any amount of a distri-
bution attributable to a withholdable
payment) and valid documentation on
the interest holders in the entity (oth-
er than nonqualified intermediaries or
flow-through entities) permitted under
this section 5 for a payment subject to
chapter 3 or 4 withholding that QI can
reliably associate with the distribution.
(iii) For the amount realized on the
distribution, QI receives from the
flow-through entity valid documenta-
tion specified in section 5.07(C)(1) of
this Agreement applicable to a flow-
through entity that QI can reliably as-
sociate with the distribution.
(D) Reportable Payments and Pay-
ments with respect to PTP Interests
Made to QIs, WPs, and WTs.
* * *
With respect to a payment of an amount
realized on the sale of a PTP interest made
by QI to a QI, QI receives a valid Form
W-8IMY provided by the other QI that in-
cludes the QI’s chapter 4 status if the QI
provides a withholding statement allocat-
ing a payment to a chapter 4 withholding
rate pool of U.S. payees. Additionally, for
an amount realized for which the other
QI does not assume primary withhold-
ing responsibility nor act as a disclosing
QI, QI can reliably associate the payment
with withholding rate pools, as described
in section 6.03 of this Agreement, or a
valid Form W-9 for a U.S. partner not in-
cludible in a chapter 4 withholding rate
pool of U.S. payees under chapter 4. See
§1.1446(f)-4(a)(7)(iv). For an amount re-
alized described in the preceding sentence
that QI pays to a QI acting as a disclos-
ing QI, QI receives valid documentation
permitted under section 5.02(C) of this
Agreement with respect to the account
holders of the other QI, including a valid
Form W-9 for a U.S. partner not includi-
ble in a chapter 4 withholding rate pool of
U.S. payees permitted under chapter 4.
With respect to a PTP distribution paid
by QI to a QI, QI receives a valid Form
W-8IMY provided by the other QI that
includes the QI’s chapter 4 status for any
portion of the PTP distribution attributable
to a withholdable payment. Additionally,
for a PTP distribution for which the oth-
er QI does not assume primary withhold-
ing responsibility nor act as a disclosing
QI, QI can reliably associate the payment
with withholding rate pools, as described
in section 6.03 of this Agreement, or a
valid Form W-9 for each partner that is a
U.S. person. For a PTP distribution that
QI pays to a QI acting as a disclosing QI,
QI receives with respect to the account

Bulletin No. 2022–20 1071 May 16, 2022
holders of the other QI valid documen-
tation required of a disclosing QI under
section 5.02(B) of this Agreement for
an amount subject to withholding under
section 1446(a) on the distribution, valid
documentation permitted under the pre-
ceding paragraph of this section 5.07(D)
for an amount realized on the distribution
and, for an amount subject to withholding
under chapter 3 or 4 on the distribution,
valid documentation described in section
5.07(A) or (B) of this Agreement.
With respect to a PTP distribution paid
to a WP or WT, QI receives a valid Form
W-8IMY provided by the WP or WT that
QI can reliably associate with an amount
subject to withholding under chapter 3 or
4 on the distribution.
* * *
(E) Payments Made to QIs Acting as
QDDs. * * *
(F) Private Arrangement Intermedi-
aries. * * * QI must also reliably associ-
ate a payment made to a PAI with valid
documentation with respect to the account
holders of the PAI for a payment of a PTP
distribution or amount realized from the
sale of a PTP interest as described in sec-
tion 5.07(D) of this Agreement.
* * *
(G) Partnerships or Trusts to which
QI Applies the Agency Option. * * *
Sec. 5.10. Documentation Validity.
(A) In General. QI may not rely on
documentation if QI has actual knowledge
or, for a payment other than an amount
realized, reason to know that the infor-
mation or certifications contained in the
documentation are unreliable or incorrect,
or that there is a change in circumstances
with respect to the information or state-
ments contained in the documentation or
account information that affects the reli-
ability of the account holder’s claim. See
§1.1441-1(e)(4)(ii)(D) for the definition
of change in circumstances and a with-
holding agent’s obligation with respect to
a change in circumstances for purposes of
withholding under chapters 3 and 4 and
section 1446(a). * * *
* * *
Sec. 5.13. Application of Presump-
tion Rules.
(A) * * *
(B) Reliably Associating a Payment
with Documentation.
* * *
See also §1.1471-3(e)(4)(vi)(B) for
when a QI that is an FFI may rely on doc-
umentation and information permitted in
an applicable IGA to document an account
holder’s chapter 4 status. For documenta-
tion reliance rules for purposes of sections
1446(a) and (f), see §§1.1446-1(c)(2)(iii)
and 1.1446(f)-4(b). * * *
(1) Reliably Associating a Payment
with Documentation Provided by a
Nonqualified Intermediary or Flow-
Through Entity.
* * *
With respect to a payment of an amount
realized from the sale of a PTP interest, QI
can reliably associate the payment with
documentation when QI can associate
the payment with a valid Form W-8IMY
provided by a flow-through entity except
for a trust that is a simple trust (for which
a valid Form W-8BEN-E may instead be
provided). Additionally, QI can reliably
associate the payment with documenta-
tion to permit a modified amount realized
paid to a foreign partnership to the extent
that QI can reliably associate the payment
with a valid Form W-8IMY provided by
the partnership that includes the certifica-
tion for a modified amount realized and
the partnership provides valid documenta-
tion for each partner allocated an amount
of gain (if any) arising from the sale. For a
payment of an amount realized made to a
grantor trust, QI can reliably associate the
payment with documentation when it can
reliably associate the payment with a val-
id Form W-8IMY from the trust indicating
its status as a foreign grantor trust (or sim-
ilar document from a U.S. trust) and can
determine the percentage of the amount
realized that is associated with valid doc-
umentation provided by each grantor or
owner of the trust.
With respect to QI’s payment of an
amount realized from the sale of a PTP in-
terest made to a nonqualified intermediary,
QI cannot reliably associate the payment
with documentation regardless of whether
a valid Form W-8IMY is provided by the
nonqualified intermediary together with
valid documentation for its account hold-
ers that QI can associate with the payment.
See section 8.02(N) of this Agreement,
however, for when a QI may rely on ac-
count holder documentation provided by a
nonqualified intermediary for purposes of
reporting under this Agreement.
With respect to a PTP distribution QI
pays to a nonqualified intermediary, QI
can reliably associate the distribution
with documentation when QI can reliably
associate the payment with a valid Form
W-8IMY provided by the nonqualified in-
termediary (including its chapter 4 status
for an amount of a distribution attributable
to a withholdable payment) and can deter-
mine the portion of each amount subject
to withholding on the distribution (as de-
termined under section 3.01(C)(2) of this
Agreement) that is associated with valid
documentation for each partner or benefi-
cial owner with respect to the distribution
that is an account holder of the nonquali-
fied intermediary (as applicable, depend-
ing on the amount subject to withholding
on the distribution and taking into account
the preceding paragraph of this section
5.13(B)(1) for an amount realized on the
distribution).
With respect to a PTP distribution QI
pays to a flow-through entity, QI can re-
liably associate the distribution with doc-
umentation to the extent it reliably asso-
ciates with documentation each amount
subject to withholding on the distribution
as follows—
(i) For an amount subject to with-
holding under section 1446(a), QI can
determine the portion of the amount
associated with—
(a) A valid Form W-8IMY from a
partnership and, for a partnership
other than a PTP, when QI can
determine the amount associated
with valid documentation provid-
ed by each of the partners of the
partnership;
(b) A valid Form W-8BEN-E or
Form W-8IMY from a simple trust;
or
(c) A valid Form W-8IMY from a
trust that identifies itself as a foreign
grantor trust (or similar document
from a U.S. grantor trust), when
QI can associate the portion of the
amount with valid documentation
provided by each grantor or owner
of the trust.
(ii) For an amount subject to withhold-
ing under chapter 3 or 4 that QI can
determine is reliably associated with a
valid Form W-8IMY provided by the
flow-through entity (which includes the

May 16, 2022 1072 Bulletin No. 2022–20
entity’s chapter 4 status with respect to
an amount of a distribution attributable
to a withholdable payment) and the
portion of the amount associated with
valid documentation provided by each
interest holder in the flow-through en-
tity other than an intermediary or flow-
through entity.
(iii) For an amount realized that QI can
determine is reliably associated with
valid documentation provided by the
flow-through entity and the portion of
the amount associated with an interest
holder in the entity to the extent spec-
ified in this section 5.13(B)(1) for an
amount realized paid to a flow-through
entity.
* * *
(7) Reliably Associating a Payment
with Documentation Provided by a QI
that Assumes Primary Withholding
Responsibility for a PTP Distribution
or Amount Realized from the Sale of a
PTP Interest.
QI can reliably associate with docu-
mentation a payment of a PTP distribu-
tion or amount realized from the sale of
a PTP interest made to another QI that as-
sumes withholding responsibility for the
payment when QI can reliably associate
the payment with a valid Form W-8IMY
provided by the QI that indicates that the
QI assumes primary responsibility for the
amount realized or PTP distribution.
(8) Reliably Associating a Payment
with Documentation Provided by a QI
that Does not Assume Primary With-
holding Responsibility for a PTP Dis-
tribution or Amount Realized from the
Sale of a PTP Interest.
QI can reliably associate with docu-
mentation a payment of an amount real-
ized from the sale of a PTP interest made
to a QI that does not assume primary with-
holding responsibility for the payment
when QI reliably associates the payment
with a valid Form W-8IMY provided by
the other QI and can determine the por-
tion of the payment associated with a
valid Form W-9 for the U.S. partner (or
a chapter 4 withholding rate pool of U.S.
payees when permitted under chapter 4)
and, with respect to other partners, either
withholding rate pools, as described in
section 6.03(C) of this Agreement or, for a
disclosing QI, when QI can determine the
portion of the payment that is associated
with valid documentation for each of the
account holders of the other QI not inclu-
dible in a chapter 4 withholding rate pool
of U.S. payees under chapter 4.
QI can reliably associate with docu-
mentation a payment of a PTP distribution
made to another QI that does not assume
primary withholding responsibility for the
payment when QI can reliably associate
the payment with a valid Form W-8IMY
provided by the QI and can determine
the portion of the distribution associated
with withholding rate pools, as described
in section 6.03(C) of this Agreement, or
a valid Form W-9 for a U.S. partner, or,
for a disclosing QI, when QI can deter-
mine the portion of each amount subject
to withholding on the distribution that is
associated with valid documentation for
each of the account holders of the other
QI as described in section 5.07(D) of this
Agreement.
(C) Presumption Rules.
* * *
(5) Other Payments.
* * * In the case of a payment of an
amount realized, an account holder that is
the partner or a broker receiving the pay-
ment shall be presumed a foreign person
for which a reduced rate of withholding
under section 1446(f) shall not apply. See,
however, §1.1446(f)-4(b)(4) in the case of
an amount realized for which withholding
under section 3406 is required. In the case
of an amount subject to withholding under
section 1446(a) on a PTP distribution, an
account holder that is a partner in the PTP
receiving the distribution shall be pre-
sumed a foreign person, with the rate of
withholding determined under §1.1446-
4(d)(1)(iii).
SECTION 6. QUALIFIED
INTERMEDIARY WITHHOLDING
CERTIFICATE AND DISCLOSURE
OF ACCOUNT HOLDERS TO
WITHHOLDING AGENT
Sec. 6.01. Qualified Intermediary
Withholding Certificate.
QI agrees to furnish a qualified inter-
mediary withholding certificate to each
withholding agent from which it receives
a reportable amount as a QI or to each
withholding agent or broker from which
QI receives a PTP distribution or amount
realized from the sale of a PTP interest
(including when QI acts as a disclosing
QI for the distribution or amount real-
ized). The qualified intermediary with-
holding certificate is a Form W-8IMY (or
acceptable substitute form) that certifies
that QI is acting as a QI, contains QI’s
QI-EIN, and provides all other informa-
tion required by the form. If QI receives
a withholdable payment (including on a
PTP distribution), QI must certify to its
chapter 4 status and provide its GIIN
(if applicable). QI must also certify its
chapter 4 status as a participating FFI or
registered deemed-compliant FFI when
QI provides a Form W-8IMY that cer-
tifies that it meets the requirements of
§1.6049-4(c)(4)(iii) with respect to any
account holder of an account it maintains
that is included in a chapter 4 withhold-
ing rate pool of U.S. payees on QI’s with-
holding statement for a payment subject
to withholding under chapter 3 or 4 or an
amount realized from the sale of a PTP
interest.
* * *
Sec. 6.02. Withholding Statement.
(A) In General.
* * * Notwithstanding the preceding
provisions of this section 6.02(A) for a
payment received by QI of a PTP distri-
bution or an amount realized from the sale
of a PTP interest, QI agrees to provide a
withholding statement described in this
section 6.02 when QI does not assume
primary withholding responsibility for the
payment.
(B) Content of Withholding Statement.
* * *
(5) Designate an account for which QI
assumes primary withholding responsibil-
ity for a PTP distribution or an amount re-
alized from the sale of a PTP interest, and
(6) Provide information regarding
withholding rate pools, as described in
section 6.03 of this Agreement, when
necessary, except that section 6.03(C) of
this Agreement shall not apply when QI
acts as a disclosing QI for a payment, and
references to a chapter 4 withholding rate
pool of U.S. payees in section 6.03(B)
of this Agreement shall not apply to an
amount subject to withholding under sec-
tion 1446(a) on a PTP distribution. See
also section 2.92(E) of this Agreement for
the extent of a disclosing QI’s requirement
to provide specific payee information on a
withholding statement.

Bulletin No. 2022–20 1073 May 16, 2022
Sec. 6.03. Chapters 3 and 4 With-
holding Rate Pools and Specific Payee
Information.
(A) In General. QI shall provide as part
of its withholding statement withholding
rate pool information in a manner suffi-
cient for the withholding agent to meet its
chapters 3 and 4 and backup withholding
responsibilities and its Form 1042-S and
Form 1099 reporting responsibilities. QI’s
requirement for its withholding statement
described in the preceding sentence also
applies to a withholding statement QI pro-
vides to the withholding agent or broker
for a payment of a PTP distribution or
amount realized from the sale of a PTP in-
terest. Additionally, for a PTP distribution,
the withholding rate pool information pro-
vided by QI on its withholding statement
must take into account each amount sub-
ject to withholding on the distribution as
determined by the withholding agent that
pays the distribution to QI.
* * *
(C) Chapter 3 Withholding Rate
Pools.
* * * For a payment of an amount re-
alized, however, QI may combine its ac-
count holder information with the account
holder information provided by an inter-
mediary only if the intermediary is a QI
other than a disclosing QI.
* * *
SECTION 8. INFORMATION
REPORTING OBLIGATIONS
Sec. 8.01. Form 1042-S Reporting.
* * *
Sec. 8.02. Recipient Specific
Reporting.
* * *
(J) If QI acts as a disclosing QI with
respect to a payment of a PTP distribution
or an amount subject to reporting under
section 1446(f) made to an account hold-
er that is a foreign partner, QI must file a
Form 1042-S to report the payment when
QI knows or has reason to know that the
Form 1042-S has not been filed with re-
spect to the partner. In the case of a PTP
distribution for which a QI must report in
accordance with the preceding sentence,
QI must file a separate Form 1042-S for
each amount paid to the foreign part-
ner that is subject to withholding on the
distribution to the extent required in the
instructions to Form 1042-S. Notwith-
standing the preceding provisions of this
section 8.02(J), see section 8.02(M) of this
Agreement for the reporting of an amount
subject to reporting under section 1446(f)
paid to a nonqualified intermediary.
(K) If a QI makes a payment of a PTP
distribution or an amount subject to re-
porting under section 1446(f) to an ac-
count holder that is a QI not acting as a
disclosing QI for the payment, QI must
file a Form 1042-S for the other QI. If QI
instead receives information on a foreign
partner from a QI that is an account hold-
er and that acts as a disclosing QI for ei-
ther such payment, QI must file a separate
Form 1042-S to report the payment when
QI assumes primary withholding respon-
sibility for the payment or knows or has
reason to know that the Form 1042-S has
not been issued with respect to the foreign
partner. In such a case, QI must file the
Form 1042-S reporting the disclosing QI
as an intermediary, with the foreign part-
ner reported as the recipient. In the case of
a payment of a PTP distribution made to a
QI that acts as a disclosing QI for the dis-
tribution and that QI is required to report
in accordance with this Section 8.02(K),
QI must file a separate Form 1042-S to the
extent required in the instructions to Form
1042-S.
(L) If QI receives specific information
on a foreign partner that is a direct account
holder of a PAI that receives from QI a
payment of an amount subject to with-
holding on a PTP distribution or an amount
subject to reporting under section 1446(f),
QI must file a separate Form 1042-S to re-
port each amount paid to the partner to the
extent required in accordance with section
8.02(K) of this Agreement for a QI that is
a disclosing QI (but as applied to a PAI
instead of a disclosing QI).
(M) If QI acts as a nominee for a pay-
ment of a PTP distribution made to a non-
qualified intermediary, QI must file a sepa-
rate Form 1042-S for each foreign partner
or beneficial owner of the distribution that
is an account holder in the nonqualified
intermediary. If QI makes a payment of
an amount subject to reporting under sec-
tion 1446(f) to a nonqualified intermedi-
ary for which QI must file Form 1042-S
in accordance with section 8.02(J) of this
Agreement, QI shall file the Form 1042-S
for an unknown recipient except that QI
may instead file the Form 1042-S for an
account holder of the nonqualified inter-
mediary receiving the payment when—
(1) QI acknowledges to the nonquali-
fied intermediary that it will report under
section 1461 with respect to the amount
allocated to each of the transferors of the
PTP interest (and, if required, under sec-
tion 6045) and that it will provide the
nonqualified intermediary a copy of each
Form 1042-S issued as a result of this
reporting;
(2) QI can reliably associate the pay-
ment with documentation for each trans-
feror under section 5.13 of this Agreement;
(3) QI receives from the nonqualified
intermediary the statement described in
§1.6031(c)-1T(a)(1) with respect to each
partner that is an account holder of the non-
qualified intermediary for which a state-
ment under section 6031(b) is required to
be issued with respect to the partner’s PTP
interest for the year in which the payment
was made; and
(4) The nonqualified intermediary ap-
points the QI as its agent for providing the
statement to the PTP (or PTP’s agent). See
§1.6031(c)-1T(f).
(N) QI must file a separate Form 1042-
S for a grantor or owner of a grantor trust
for purposes of section 1446(a) or (f),
except when QI applies the provisions of
section 4.06 of this Agreement with re-
spect to the trust.
(O) QI must file a separate Form 1042-
S for a partnership holding a PTP interest
to the extent that QI determines a modified
amount realized with respect to the part-
nership for purposes of section 1446(f) or,
for purposes of section 1446(a), when the
partnership is not a PTP, but excluding ei-
ther case when QI applies the provisions
of section 4.06 of this Agreement with re-
spect to the partnership.
(P) QI must file a separate Form 1042-
S with respect to a foreign partner that re-
quests such form from QI to report a pay-
ment of an amount subject to withholding
on a PTP distribution or amount subject
to reporting under section 1446(f) when
the partner provides its U.S. TIN to QI (or
indicates in writing that it has applied for
a U.S. TIN) and makes the request to QI
within three full calendar years following
the year in which QI made the payment for
which the Form 1042-S is requested. If QI
files a separate Form 1042-S with respect

May 16, 2022 1074 Bulletin No. 2022–20
to an amount paid to a foreign partner as
described in the preceding sentence, QI
must also file a separate Form 1042-S for
each other amount paid to the foreign part-
ner for the calendar year with respect to all
accounts held by foreign partner with QI.
Sec. 8.03. Reporting Pools for Form
1042-S Reporting.
(A) Chapter 4 Reporting Pools.
* * * If QI is an FFI, it may report in
a chapter 4 withholding rate pool of U.S.
payees an account holder that is (or is
presumed) a U.S. person and that QI re-
ports as a U.S. account under its applica-
ble FATCA requirements as a participat-
ing FFI or registered deemed-compliant
FFI provided that QI is excepted from
Form 1099 reporting with respect to the
payment under section 8.06(A)(1) of this
Agreement or section 8.06(A)(2) and (A)
(3) of this Agreement if the payment is ex-
cepted from Form 1099 reporting, is not
subject to withholding under chapter 4,
and is not a PTP distribution. * * *
(B) Chapter 3 Reporting Pools. Ex-
cept for amounts required to be reported
under section 8.02 of this Agreement or
when QI acts as a disclosing QI for a pay-
ment, QI shall report an amount subject
to chapter 3 withholding or withholding
under section 1446(a) or (f) for which no
chapter 4 withholding is required and that
is paid to a foreign account holder by re-
porting pools on a Form 1042-S if paid to
a direct account holder of QI or to a direct
account holder of a PAI of QI, or to a part-
nership or trust described in section 4 of
this Agreement. * * *
Sec. 8.07. Section 6031 Reporting
Responsibility with respect to Partner
Holding PTP Interest.
(A) In General. A QI must comply
with the requirements of this section 8.07
for each calendar year for purposes of QI’s
requirement to report under §1.6031(c)-
1T with respect to its account holders. An
account holder for purposes of this sec-
tion 8.07 is a partner or intermediary that
during a calendar year receives from QI
a PTP distribution or sells a PTP interest
for which QI pays to it an amount realized
and is—
(1) A direct account holder of QI
excluding an account holder that is a
QI or nonqualified intermediary refer-
enced in section 8.07(A)(2) or (3) of this
Agreement;
(2) An account holder of another QI
acting as a disclosing QI for the distribu-
tion or amount realized (including an ac-
count holder of the other QI that is itself
a QI but not acting as a disclosing QI); or
(3) An account holder of a nonqualified
intermediary when QI either receives the
information required for reporting under
this section 8.07 with respect to an ac-
count holder receiving the distribution or,
for the amount realized paid to the account
holder, satisfies the conditions of section
8.02(M) of this Agreement (or is other-
wise a PAI).
(B) QI not Acting as Disclosing QI.
A QI that does not act as a disclosing QI
for a PTP distribution or amount realized
paid to an account holder for a calendar
year with respect to the account hold-
er’s PTP interest may provide the state-
ment with respect to the account holder
specified in §1.6031(c)-1T(a) to the PTP
in which the interest is held (or PTP’s
agent). If QI does not provide the state-
ment specified in §1.6031(c)-1T(a) as
described in the preceding sentence, QI
must issue to each account holder receiv-
ing the distribution or amount realized the
statement that is described in §1.6031(c)-
1T(h) for the calendar year with respect
to the PTP interest for which the distri-
bution or amount realized was paid. In
such a case, QI is also required to request
from the PTP the PTP’s deemed sale in-
formation for purposes of §1.864(c)(8)-
2(b)(2) with respect to an account holder
requesting (directly or through another
intermediary) this information from QI
(which, in turn, QI must provide to the
account holder).
(C) QI Acting as Disclosing QI.
A QI that acts as a disclosing QI for a
PTP distribution or amount realized paid
to an account holder for a calendar year
with respect to the account holder’s PTP
interest is required to provide the state-
ment with respect to the account holder
specified in §1.6031(c)-1T(a) to the PTP
in which the interest is held (or PTP’s
agent) or QI’s nominee for the payment.
Additionally, in a case in which QI pro-
vides the statement to QI’s nominee, QI
must obtain from the nominee a written
representation that the nominee is acting
as an agent of the PTP for purposes of the
statement unless QI otherwise appoints
the nominee as its agent for providing
the statement to the PTP (or the PTP’s
agent). See §1.6031(c)-1T(f).
SECTION 9. ADJUSTMENTS
FOR OVER- AND UNDER-
WITHHOLDING; REFUNDS
Sec. 9.01. Adjustments for Overwith-
holding by Withholding Agent When QI
Does not Assume Primary Withholding
Responsibility.
* * *
The reimbursement and set-off proce-
dures that apply to an amount overwith-
held by QI’s withholding agent under
chapter 3 and 4 also apply to an amount
overwithheld on an amount realized or on
an amount subject to withholding under
section 1446(a) on a PTP distribution by
QI’s broker (for an amount realized), or a
nominee or PTP (for a PTP distribution).
Sec. 9.02. Adjustments for Overwith-
holding by QI Assuming Primary With-
holding Responsibility.
* * *
The reimbursement and set-off proce-
dures that apply to an amount QI over-
withheld under chapter 3 and 4 also ap-
ply to an amount QI overwithheld on an
amount realized or an amount subject to
withholding under section 1446(a) on a
PTP distribution.
Sec. 9.05. Adjustments for
Underwithholding.
* * *
QI may withhold from future payments
in a case in which QI underwithheld on an
amount realized or PTP distribution to the
same extent applicable to an amount QI
underwithheld on under chapter 3 or 4.
Sec. 9.04. Collective Credit or Re-
fund Procedures for Overwithholding.
* * *
(A) Payments for which a Collective
Refund is Permitted.
* * *
QI is not permitted to use the collec-
tive refund procedures with respect to an
amount withheld on an amount realized
on a sale of a PTP interest or on a PTP
distribution. * * *
* * *
SECTION 10. COMPLIANCE
PROCEDURES
* * *

Bulletin No. 2022–20 1075 May 16, 2022
10.03. Certification of Internal Con-
trols by Responsible Officer.
* * *
(B) Material Failures.
(1) Material Failures Defined.
* * *
(iv) * * *
(i) Withhold an amount that QI was re-
quired to withhold on a payment of an amount
realized from the sale of a PTP interest or on
a PTP distribution as required under section
3 of this Agreement or provide correct infor-
mation to a withholding agent or broker when
QI does not assume primary withholding re-
sponsibility for either payment under section
3.02 of this Agreement; or
(j) Comply with the requirements of
section 8.07 of this Agreement with re-
spect to one or more account holders that
are partners holding PTP interests (includ-
ing account holders of another intermedi-
ary when QI acts as an agent for meeting
these requirements).
* * *
SECTION 11. EXPIRATION,
TERMINATION, MERGER AND
DEFAULT
* * *
Sec. 11.06. Event of Default. * * *
(B) QI underwithholds a material
amount of tax that QI is required to with-
hold under chapter 3, section 1446(a),
section 1446(f), or chapter 4, or backup
withhold under section 3406 and fails to
correct the underwithholding or to file an
amended Form 1042 or 945 reporting, and
paying, the appropriate tax;
* * *
(E) QI files Forms 945, 1042, 1042-S,
1099, or 8966 that are materially incorrect
or fraudulent, or fails to comply material-
ly with the requirements of section 8.07
of this Agreement with respect to account
holders that are partners holding PTP in-
terests (including account holders of an-
other intermediary when QI acts as an
agent for meeting these requirements).
SECTION 5. SUBMISSION OF
PUBLIC COMMENTS
Written comments may be submitted by
May 31, 2022. Comments should include
a reference to Notice 2022-23. Comments
may be submitted in one of two ways:
(1) Electronically via the Federal
eRulemaking Portal at www.regulations.
gov (type IRS-2022-0010 in the search
field on the regulations.gov homepage to
find this notice and submit comments).
(2) Alternatively, by mail to: Inter-
nal Revenue Service, CC:PA:LPD:PR
(Notice 2022-23), Room 5203, P.O. Box
7604, Ben Franklin Station, Washington,
DC 20044.
All commenters are strongly encour-
aged to submit comments electronically,
as access to mail may be limited. The IRS
expects to have limited personnel avail-
able to process public comments that are
submitted on paper through mail. Until
further notice, any comments submitted
on paper will be considered to the extent
practicable. The Treasury Department and
the IRS will publish for public availabili-
ty any comment submitted electronically,
and to the extent practicable on paper, to
its public docket.
SECTION 6. DRAFTING
INFORMATION
The principal author of this Notice is
W. Shawver Adams of the Office of As-
sociate Chief Counsel (International). For
further information regarding this Notice,
contact John Sweeney at (202) 317-3800
(not a toll-free number).
26 CFR 601.602: Tax forms and instructions.
(Also Part I, §§ 1, 223; Part III § 54.9831-1)
Rev. Proc. 2022-24
SECTION 1. PURPOSE
This revenue procedure provides the
2023 inflation adjusted amounts for Health
Savings Accounts (HSAs) as determined
under § 223 of the Internal Revenue Code
and the maximum amount that may be made
newly available for excepted benefit health
reimbursement arrangements (HRAs) pro-
vided under § 54.9831-1(c)(3)(viii) of the
Pension Excise Tax Regulations.
SECTION 2. 2023 INFLATION
ADJUSTED ITEMS
.01 HSA INFLATION ADJUSTED
ITEMS
Annual contribution limitation. For
calendar year 2023, the annual limitation
on deductions under § 223(b)(2)(A) for an
individual with self-only coverage under a
high deductible health plan is $3,850. For
calendar year 2023, the annual limitation
on deductions under § 223(b)(2)(B) for an
individual with family coverage under a
high deductible health plan is $7,750.
High deductible health plan. For calen-
dar year 2023, a “high deductible health
plan” is defined under § 223(c)(2)(A) as
a health plan with an annual deductible
that is not less than $1,500 for self-only
coverage or $3,000 for family coverage,
and for which the annual out-of-pocket
expenses (deductibles, co-payments, and
other amounts, but not premiums) do not
exceed $7,500 for self-only coverage or
$15,000 for family coverage.
.02 HRA INFLATION ADJUSTED
ITEM
For plan years beginning in 2023, the
maximum amount that may be made new-
ly available for the plan year for an ex-
cepted benefit HRA under § 54.9831-1(c)
(3)(viii) is $1,950. See § 54.9831-1(c)(3)
(viii)(B)(1) for further explanation of this
calculation.
SECTION 3. EFFECTIVE DATE
This revenue procedure is effective for
HSAs for calendar year 2023 and for ex-
cepted benefit HRAs for plan years begin-
ning in 2023.
SECTION 4. DRAFTING
INFORMATION
The principal author of this revenue
procedure is Bill Ruane of the Office of
Associate Chief Counsel (Income Tax &
Accounting). For further information re-
garding § 223 and HSAs contact William
Fischer at (202) 317-5500 (not a toll-free
number). For further information regard-
ing excepted benefit HRAs, contact Chris-
topher Dellana at (202) 317-5500 (not a
toll-free number). For further information
regarding the calculation of the inflation
adjustments in this revenue procedure,
contact Mr. Ruane at (202) 317-4718 (not
a toll-free number).

May 16, 2022 1076 Bulletin No. 2022–20
Part IV
Notice of Proposed
Rulemaking
Mortality Tables for
Determining Present Value
under Defined Benefit
Pension Plans
REG-106384-20
AGENCY: Internal Revenue Service
(IRS), Treasury.
ACTION: Notice of proposed rulemak-
ing and notice of public hearing.
SUMMARY: This document sets forth
proposed regulations prescribing mortali-
ty tables to be used for most defined ben-
efit pension plans. The tables specify the
probability of survival year-by-year for an
individual based on age, gender, and other
factors. The tables are used (together with
other actuarial assumptions) to calculate
the present value of a stream of expect-
ed future benefit payments for purposes
of determining the minimum funding re-
quirements for the plan. These mortality
tables are also relevant for determining
the minimum required amount of a lump-
sum distribution from such a plan. These
regulations affect participants in, bene-
ficiaries of, employers maintaining, and
administrators of certain defined benefit
pension plans.
DATES: Written or electronic comments
must be received by June 9, 2022. A pub-
lic hearing on these proposed regulations
has been scheduled for June 28, 2022 at
10 a.m. EST. Requests to speak and out-
lines of topics to be discussed at the public
hearing must be received by June 9, 2022.
If no outlines are received by June 9, 2022,
the public hearing will be cancelled. Re-
quests to attend the public hearing must be
received by 5 p.m. EST on June 24, 2022.
The telephonic hearing will be made ac-
cessible to people with disabilities. Re-
quests for special assistance during the
telephonic hearing must be received by
June 23, 2022.
ADDRESSES: Commenters are strongly
encouraged to submit public comments
electronically. Submit electronic submis-
sions via the Federal eRulemaking Portal
at www.regulations.gov (indicate IRS and
REG-106384-20) by following the online
instructions for submitting comments.
Once submitted to the Federal eRulemak-
ing Portal, comments cannot be edited
or withdrawn. The IRS expects to have
limited personnel available to process
public comments that are submitted on
paper through mail. Until further notice,
any comments submitted on paper will be
considered to the extent practicable. The
Department of the Treasury (the Treasury
Department) and the IRS will publish
for public availability any comment sub-
mitted electronically, and to the extent
practicable on paper, to its public docket.
Send paper submissions to: CC:PA:LP-
D:PR (REG-106384-20), room 5203,
Internal Revenue Service, PO Box 7604,
Ben Franklin Station, Washington, D.C.
20044.
For those requesting to speak during
the hearing, send an outline of topic sub-
missions electronically via the Federal
eRulemaking Portal at www.regulations.
gov (indicate IRS and REG-106384-20).
Individuals who want to testify (by
telephone) at the public hearing must
send an email to publichearings@irs.gov
to receive the telephone number and ac-
cess code for the hearing. The subject line
of the email must contain the regulation
number REG-106384-20 and the word
TESTIFY. For example, the subject line
may say: Request to TESTIFY at Hearing
for REG-106384-20. The email should
include a copy of the speaker’s public
comments and outline of topics. Individu-
als who want to attend (by telephone) the
public hearing must also send an email
to publichearings@irs.gov to receive
the telephone number and access code
for the hearing. The subject line of the
email must contain the regulation number
REG-106384-20 and the word ATTEND.
For example, the subject line may say:
Request to ATTEND Hearing for REG-
106384-20. To request special assistance
during the telephonic hearing contact the
Publications and Regulations Branch of
the Office of Associate Chief Counsel
(Procedure and Administration) by send-
ing an email to publichearings@irs.gov
(preferred) or by telephone at (202) 317-
5177 (not a toll-free number).
FOR FURTHER INFORMATION
CONTACT: Concerning the regulations,
Arslan Malik or Linda Marshall at (202)
317-6700; concerning submission of com-
ments and outlines of topics for the pub-
lic hearing, call Regina Johnson at (202)
317-6901 (not toll-free numbers) or email
publichearings@irs.gov.
SUPPLEMENTARY INFORMATION:
Background
Section 412 of the Internal Revenue
Code (Code) prescribes minimum fund-
ing requirements for defined benefit pen-
sion plans, and section 430 specifies the
minimum funding requirements that apply
generally to defined benefit plans that are
not multiemployer plans.
1
Section 430(a)
defines the minimum required contribu-
tion by reference to the plan’s funding tar-
get for the plan year. Under section 430(d)
(1), a plan’s funding target for a plan year
generally is the present value of all bene-
fits accrued or earned under the plan as of
the first day of that plan year.
Section 430(h)(3) provides rules re-
garding the mortality tables to be used un-
der section 430. Under section 430(h)(3)
(A), except as provided in section 430(h)
(3)(C) or (D), the Secretary is to prescribe
by regulation mortality tables to be used
in determining any present value or mak-
ing any computation under section 430.
1
Section 302 of the Employee Retirement Income Security Act of 1974, Public Law No. 93-406, as amended (ERISA) sets forth funding rules that are parallel to those in section 412 of the
Code, and section 303 of ERISA sets forth additional funding rules for defined benefit plans (other than multiemployer plans) that are parallel to those in section 430 of the Code. Pursuant to
section 101 of Reorganization Plan No. 4 of 1978, 5 U.S.C. App., as amended, the Secretary of the Treasury has interpretive jurisdiction over the subject matter addressed in these proposed
regulations for purposes of ERISA, as well as the Code. Thus, these proposed Treasury regulations issued under section 430 of the Code also apply for purposes of section 303 of ERISA.

Bulletin No. 2022–20 1077 May 16, 2022
Those mortality tables are to be based on
the actual mortality experience of pension
plan participants and projected trends in
that experience. In prescribing those mor-
tality tables, the Secretary is required to
take into account results of available inde-
pendent studies of mortality of individuals
covered by pension plans. Under section
430(h)(3)(B), the Secretary is required to
revise any mortality table in effect under
section 430(h)(3)(A) at least every 10
years to reflect actual mortality experience
of pension plan participants and projected
trends in that experience. Under section
430(h)(3)(C), a plan sponsor is permitted
to request the Secretary’s approval to use
plan-specific substitute mortality tables
that meet requirements specified in the
statute rather than the generally applicable
mortality tables. If approved, these substi-
tute mortality tables are used to determine
present values and make computations
under section 430 during the period of
consecutive plan years (not to exceed 10)
specified in the request.
Section 430(h)(3)(D) provides for the
use of separate mortality tables with re-
spect to certain individuals who are en-
titled to benefits on account of disability.
These separate mortality tables are per-
mitted to be used with respect to disabled
individuals in lieu of the generally appli-
cable mortality tables provided pursuant
to section 430(h)(3)(A) or the substitute
mortality tables under section 430(h)(3)
(C). The Secretary is to establish sepa-
rate tables for individuals with disabilities
occurring in plan years beginning before
January 1, 1995, and for individuals with
disabilities occurring in later plan years,
with the mortality tables for individuals
with disabilities occurring in those later
plan years applying only to individuals
who are disabled within the meaning of
Title II of the Social Security Act.
Section 417(e)(3) generally provides
that the present value of certain benefits
under a qualified pension plan (including
single-sum distributions) must not be less
than the present value of the accrued ben-
efit using applicable interest rates and the
applicable mortality table. Section 417(e)
(3)(B) defines the term “applicable mor-
tality table” as the mortality table speci-
fied for the plan year for minimum fund-
ing purposes under section 430(h)(3)(A)
(without regard to the rules for substitute
mortality tables under section 430(h)(3)
(C) or mortality tables for disabled indi-
viduals under section 430(h)(3)(D)), mod-
ified as appropriate by the Secretary. The
modifications made by the Secretary to
the section 430(h)(3)(A) mortality table to
determine the section 417(e)(3)(B) appli-
cable mortality table are not addressed in
these proposed regulations. Revenue Rul-
ing 2007-67, 2007-2 CB 1047, describes
the modifications that are currently ap-
plied to determine the section 417(e)(3)
(B) applicable mortality table.
Final regulations under section 430(h)
(3) were published in the Federal Reg-
ister on October 5, 2017 in TD 9826, 82
FR 46388 (the 2017 regulations). Section
1.430(h)(3)-1 prescribes base mortality
tables and a set of mortality improvement
rates, which may be reflected through the
use of either generational mortality tables
or static mortality tables. The generational
mortality tables are a series of mortality
tables, one for each year of birth, each of
which fully reflects projected trends in
mortality rates. The static mortality tables
(which are updated annually
2
) use a sin-
gle mortality table for all years of birth to
approximate the present value that would
be determined using the generational mor-
tality tables.
The mortality tables included in the
2017 regulations are based on the mortali-
ty tables included in the RP-2014 Mortal-
ity Tables Report
2
(referred to in this pre-
amble as the RP-2014 mortality tables),
which was released by the Retirement
Plan Experience Committee (RPEC) of
the Society of Actuaries (SOA) in Octo-
ber 2014 (as revised in November 2014),
and a set of mortality improvement rates
(the Scale MP-2016 rates) as released by
RPEC.
4
In 2016, RPEC initiated a study of
private-sector retirement plans in the U.S.
in order to provide an update to RP-2014,
and in 2019, RPEC issued the Pri-2012
Private Retirement Plans Mortality Tables
Report (Pri-2012 Report).
5

In Notice 2019-67 (which provides
mortality improvement rates and static
mortality tables for 2021), the Treasury
Department and the IRS asked for com-
ments regarding future mortality tables
under section 430(h)(3)(A). The notice
identified the mortality tables in the Pri-
2012 Report as a potential source for de-
veloping updated mortality tables under
section 430(h)(3)(A) and requested com-
ments regarding (1) whether there are oth-
er studies of actual mortality experience
of individuals covered by pension plans
and projected trends in that experience
that should be considered for use in de-
veloping updated mortality tables under
section 430(h)(3)(A), such as studies that
examine the mortality experience of in-
dividuals covered by large public-sector
pension plans, and (2) if the mortality ta-
bles in the Pri-2012 Report were to be used
to develop updated mortality tables under
section 430(h)(3)(A), which of the tables
in that report should be used. In October
2021, RPEC published the Mortality Im-
provement Scale MP-2021 Report (MP-
2021 Report), which is the latest update
to its study on mortality improvement.
6
In
response to the request for comments in
Notice 2019-67, the Treasury Department
and the IRS received seven comments.
The comments are discussed in the Expla-
nation of Provisions.
The standards prescribed for devel-
oping the mortality tables under 430(h)
(3)(A) are the same as the standards that
are prescribed for developing mortali-
ty tables for multiemployer plans under
section 431(c)(6)(D)(iv)(II) (which are
used to determine current liability in or-
der to determine the minimum full fund-
ing limitation under section 431(c)(6)
(B)). See § 1.431(c)(6)-1 (providing that
the same mortality assumptions that apply
for purposes of section 430(h)(3)(A) and
§ 1.430(h)(3)-1(a) are used to determine
a multiemployer plan’s current liability).
These standards also apply for CSEC
2
Static mortality tables were published in Notice 2017-60, 2017-43 IRB 365, Notice 2018-02, 2018-2 IRB 281, Notice 2019-26, 2019-15 IRB 943, Notice 2019-67, 2019-52 IRB 1510, and
Notice 2020-85, 2020-51 IRB 1645.
3
This report is available at https://www.soa.org/globalassets/assets/files/research/exp-study/research-2014-rp-report.pdf.
4
This report is available at https://www.soa.org/globalassets/assets/Files/Research/Exp-Study/mortality-improvement-scale-mp-2016.pdf.
5
This report is available at https://www.soa.org/globalassets/assets/files/resources/experience-studies/2019/pri-2012-mortality-tables-report.pdf.
6
This report is available at https://www.soa.org/globalassets/assets/files/resources/experience-studies/2021/2021-mp-scale-report.pdf.

May 16, 2022 1078 Bulletin No. 2022–20
plans described in section 414(y) for pur-
poses of developing mortality tables that
are used for purposes of section 433(h)
(3)(B)(i) (to determine current liability in
order to determine the minimum full fund-
ing limitation under section 433(c)(2)(C)
and the funded current liability percent-
age under section 433(i)). See § 1.433(h)
(3)-1 (providing that the same mortality
assumptions that apply for purposes of
section 430(h)(3)(A) and § 1.430(h)(3)-
1(a) are used to determine a CSEC plan’s
current liability).
Explanation of Provisions
These proposed regulations set forth
the methodology that the Treasury De-
partment and the IRS intend to use to
update the generally applicable mortality
tables that are used to determine present
value or make any computation under
section 430. Pursuant to section 417(e)
(3)(B), a modified version of these updat-
ed tables would be used for purposes of
determining the amount of a single-sum
distribution (or another accelerated form
of distribution). In addition, these tables
would be used to determine current li-
ability for multiemployer plans under
section 431(c)(6) and CSEC plans under
section 433(h).
The methodology for developing up-
dated tables under section 430(h)(3)(A)
is being proposed pursuant to the require-
ment under section 430(h)(3)(B) to revise
the mortality tables used under section
430 to reflect the actual mortality experi-
ence of pension plan participants and pro-
jected trends in that experience. As under
the 2017 regulations, the methodology in-
volves the separate determination of base
mortality tables and the projection of mor-
tality improvement.
A. Base Mortality Tables
The base mortality tables proposed
for use under section 430(h)(3)(A) are
derived from the tables set forth in the
Pri-2012 Report. After reviewing the Pri-
2012 Report and comments received in
response to Notice 2019-67, the Treasury
Department and the IRS have determined
that the experience study used to develop
the Pri-2012 Report is the best available
study of the actual mortality experience
of pension plan participants (other than
disabled individuals). Accordingly, the
mortality tables in the Pri-2012 Report
are the foundation for the base mortal-
ity tables used to project the mortality
of pension plan participants under these
proposed regulations. Like the mortality
tables provided in the 2017 regulations,
the mortality tables set forth in these pro-
posed regulations are gender-distinct and
provide separate non-annuitant and annu-
itant mortality rates.
Unlike the Pri-2012 Report, these pro-
posed regulations do not provide sepa-
rate tables for annuitants who are retirees
and annuitants who are contingent ben-
eficiaries. In response to the request for
comments in Notice 2019-67, most com-
menters recommended against the use of
separate mortality tables for retirees and
contingent beneficiaries because: (1) those
separate mortality tables are complex
to apply on an exact basis; (2) applying
those mortality tables would require ac-
tuaries to use historical data that may be
difficult to obtain; and (3) the use of those
separate mortality tables would not have
a significant effect in measuring a plan’s
liabilities. After reviewing the comments,
the Treasury Department and the IRS
concluded that the regulations should not
provide separate mortality tables for annu-
itants who are retirees and annuitant who
are contingent beneficiaries. Accordingly,
these proposed regulations provide an-
nuitant mortality tables that combine the
mortality experience of retirees and con-
tingent beneficiaries.
As under the 2017 regulations, these
proposed regulations provide that the
annuitant mortality tables are applied to
determine the present value of benefits
for an annuitant. For a non-annuitant, the
non-annuitant mortality tables are applied
for the periods before the participant is
projected to commence receiving ben-
efits, and the annuitant mortality tables
are used for later periods. With respect to
a beneficiary of a participant, the annui-
tant mortality tables apply for the period
beginning with each assumed commence-
ment of benefits for the participant. If the
participant has died (or to the extent the
participant is assumed to die before com-
mencing benefits), the annuitant mortality
tables apply with respect to the benefi-
ciary for the period beginning with each
assumed commencement of benefits for
the beneficiary.
These proposed regulations set forth
base tables that are to be used to devel-
op the mortality tables for future years.
These base tables have a base year of
2012 (the central year of the experience
study used to develop the mortality tables
in the Pri-2012 Report). These base tables
generally have the same mortality rates
as the employee and non-disabled annui-
tant mortality rates that were released by
RPEC in connection with the Pri-2012
Report. However, these base tables also
include non-annuitant mortality rates for
ages below age 18 and above age 80 and
annuitant mortality rates for ages below
age 50. This generally is the same ap-
proach that was used to develop the base
mortality tables in the 2017 regulations.
The non-annuitant mortality rates for
ages above age 80 were developed by (1)
using the annuitant rates from the base
mortality tables for ages 90 and older,
and (2) interpolating between the rates for
age 80 and age 90 in order to produce a
smooth transition between the age 80 rates
from the non-annuitant tables to the age
90 rates from the annuitant tables. The in-
terpolation uses increasing fractions with
a denominator of 55 to allocate the total
difference between the rates at ages 80
and 90 over those 10 years. Thus, the rate
at age 81 is set equal to the rate at age 80
plus 1/55 of the total difference, the age
82 rate is equal to the rate at age 81 plus
2/55 of the total difference (so that the age
82 rate is equal to the rate at age 80 plus
3/55 of the total difference), and so on for
other ages.
A similar approach was used to devel-
op annuitant rates for ages below age 50
for males and 52 for females. The annui-
tant rates for ages under age 50 for males
and 52 for females were determined by
(1) using the non-annuitant rates from the
base mortality tables for ages 18 to 40,
and (2) interpolating between the rates
for age 40 and a later age, using the same
methodology described in the preceding
paragraph. The later age for males was 50
and for females was 52 (requiring that a
denominator of 78 be substituted for 55
when that methodology was applied for
females). This method produces a smooth
transition between the age 40 rates from
the non-annuitant tables and the age 50

Bulletin No. 2022–20 1079 May 16, 2022
rates for males, and age 52 rates for fe-
males, from the annuitant tables. In addi-
tion, some anomalous rates for female an-
nuitants at ages 55 and 56 in the Pri-2012
Report were smoothed by using a straight
linear interpolation between the age 54
rates and the age 57 rates from the female
annuitant table. For ages below age 18,
both the non-annuitant and annuitant rates
incorporate the juvenile rates from the Pri-
2012 Report.
B. Mortality Improvement
These proposed regulations use the
Scale MP-2021 Rates (the mortality im-
provement scale in the MP-2021 Report)
for valuation dates in the 2023 calendar
year. This mortality improvement scale
was developed using the same underlying
methodology used to develop earlier mor-
tality improvement scales but reflects his-
torical population data through 2019 and
the change to the RPEC-selected assump-
tions for the long-term rate of mortality
improvement that was first incorporated
in the Mortality Improvement Scale MP-
2020 Report.
7
The Treasury Department
and the IRS understand that RPEC expects
to issue updated mortality improvement
rates that reflect new data for mortality
improvement trends for the general pop-
ulation on an annual basis. The Treasury
Department and the IRS expect to take
those updates into account in determining
the mortality rates to be used under sec-
tion 430(h)(3) for valuation dates in years
after 2023. Those rates will be specified
in guidance to be published in the Internal
Revenue Bulletin. See § 601.601(d).
C. Use of Static Tables for Small Plans
The 2017 regulations provide for the
use of separate generational non-annuitant
and annuitant mortality tables and separate
static non-annuitant and annuitant mortal-
ity tables. The preamble to those regula-
tions explains that static mortality tables
are permitted to be used (notwithstanding
that generational mortality tables yield
more accurate results) because of the lim-
itations of some current actuarial software
that is not designed to use generational ta-
bles. Since the issuance of the 2017 regu-
lations, the software needed to use genera-
tional mortality tables has become widely
used and is often used for other business
needs such as financial accounting. There
is no longer a need to allow the use of stat-
ic mortality tables for most plans because
most actuarial firms have the capability to
use generational mortality tables. Requir-
ing most employers to use generational
mortality tables also minimizes anti-selec-
tion by plan sponsors who determine that
the use of static mortality tables results
in lower minimum funding requirements.
Accordingly, these proposed regulations
eliminate the use of separate static non-an-
nuitant and annuitant mortality tables and
require the use of generational mortality
tables for plans that are not considered
small plans.
These proposed regulations continue
to allow the use of static mortality tables
for small plans (defined as plans with
500 or fewer participants), as well as for
multiemployer and CSEC plans. Howev-
er, the static mortality tables that may be
used for these plans are combined tables
reflecting non-annuitant and annuitant
mortality rates. These tables are con-
structed from a blend of non-annuitant
and annuitant mortality rates based on
the underlying data used in developing
the Pri-2012 Report.
Applicability Date
These regulations are proposed to ap-
ply to plan years beginning on or after
January 1, 2023.
Other Matters
A. Effect of Regulations on Previously
Approved Substitute Mortality Tables
The 2017 regulations also included
rules regarding the use of plan-specif-
ic mortality tables under section 430(h)
(3)(C), which are set forth in § 1.430(h)
(3)-2.
8
Section 1.430(h)(3)-2(c)(6)(ii) pro-
vides for the early termination of the use
of substitute mortality tables in certain
circumstances, including pursuant to a
replacement of the mortality tables spec-
ified in § 1.430(h)(3)-1. Under § 1.430(h)
(3)-2(c)(6)(ii)(E), the early termination
pursuant to such a replacement must be
effective as of a date specified in guid-
ance published in the Internal Revenue
Bulletin. Except as described in the next
paragraph, the Treasury Department and
the IRS do not intend to require the early
termination of previously approved sub-
stitute mortality tables in connection with
the proposed replacement of the generally
applicable mortality tables.
Under § 1.430(h)(3)-2(c)(6)(ii)(C), the
use of substitute mortality tables is termi-
nated early if there is a significant change
in the individuals covered by the plan. As
defined in § 1.430(h)(3)-2(c)(6)(iii)(A), a
significant change is either an increase or
decrease in the number of individuals cov-
ered by the substitute mortality table for
the plan year of more than 20 percent of
the average number of individuals in that
population over the years covered by the
experience study on which the substitute
mortality tables are based. However, un-
der § 1.430(h)(3)-2(c)(6)(iii)(A), a change
in coverage is not treated as significant if
the plan’s actuary certifies in writing to
the satisfaction of the Commissioner that
the substitute mortality tables used for the
plan population continue to be accurately
predictive of future mortality of that popu-
lation (taking into account the effect of the
change in the population).
When final regulations providing for
the replacement of mortality tables under
section 430 are issued, the Treasury De-
partment and the IRS anticipate issuing
guidance in the Internal Revenue Bulletin
pursuant to § 1.430(h)(3)-2(c)(6)(ii)(E)
that will require the early termination of
a plan’s previously approved substitute
mortality table only if the plan has expe-
rienced a significant change in coverage
under § 1.430(h)(3)-2(c)(6)(iii). The early
termination would apply without regard
to any plan actuary certification that the
substitute mortality tables used for the
plan population continue to be accurate-
ly predictive of future mortality of that
population.
7
This report is available at https://www.soa.org/globalassets/assets/files/resources/experience-studies/2020/mortality-improvement-scale-mp-2020.pdf.
8
Rev. Proc. 2017-55, 2017-43 IRB 373, sets forth the procedure by which a plan sponsor of a defined benefit plan may request and obtain approval for the use of plan-specific substitute
mortality tables in accordance with section 430(h)(3)(C).

May 16, 2022 1080 Bulletin No. 2022–20
B. Impact of COVID-19 on Mortality
Rates
The mortality improvement rates in
these proposed regulations are based on
the MP-2021 Report, which was prepared
in 2021 based on the most recent data
available at that time (estimated 2019
calendar year data). Accordingly, the
MP-2021 mortality improvement scale
does not take into account any mortality
experience in calendar years 2020 and
2021, which are the first years affected
by the COVID-19 pandemic. In selecting
their assumed long-term improvement
rates, RPEC did not make any adjust-
ments to take into account any effects of
COVID-19 on mortality rates in the long
term because there was no consensus on
COVID-19’s effect on expected future
mortality experience.
9
Accordingly, the
mortality improvement rates in these reg-
ulations do not take into account the im-
pact of the COVID-19 pandemic.
The MP-2021 Report includes a review
of actual mortality data from 2020 and a
portion of 2021. For the 40-week period
starting March 22, 2020, the review indi-
cated that the number of deaths was ap-
proximately 120 percent of the expected
number. For 2021, that ratio dropped to
110 percent in the spring, before increas-
ing in the summer. The number of deaths
attributable to the COVID-19 pandemic
has remained high during the early part
of 2022. These higher mortality rates do
not indicate that the MP-2021 mortality
improvement scale is flawed, but merely
reflect that the model did not anticipate
COVID-19 in projecting the mortality
rates for these years.
The mortality rates provided in these
proposed regulations would apply start-
ing in 2023. If the impact of COVID-19
on mortality experience is viewed as only
a short-term phenomenon, the mere fact
that the model in the MP-2021 Report
(upon which these proposed regulations
are based) did not reflect the actual mor-
tality experience for 2020 through 2022
does not mean that the mortality rates in
these proposed regulations are inappropri-
ate because it is not clear to what extent
the increased mortality associated with
COVID-19 will continue for 2023 and
later years. However, to the extent there
is a long-term higher mortality rate from
COVID-19, the Treasury Department
and the IRS expect that RPEC will re-
flect the long-term impact of COVID-19
in future mortality improvement scales,
which could be specified for use in fu-
ture guidance. The Treasury Department
and the IRS request comments about how
the data for periods in which mortality
experience for plan participants has been
significantly affected by the COVID-19
pandemic should be taken into account in
future mortality improvement rates under
these regulations and future base mortality
tables.
These proposed regulations do not
change any of the rules or procedures re-
quired for employers to request substitute
mortality tables. The Treasury Depart-
ment and the IRS request comments about
whether the rules and procedures relating
to development of substitute mortality ta-
bles should be modified to recognize the
potential that the mortality experience for
the period of the COVID-19 pandemic
is not accurately predictive of the future
mortality experience for participants of a
plan for which substitute mortality tables
are requested.
Incorporation by Reference
Section 1.430(h)(3)-1(b)(1)(iii) of the
proposed regulations provides that the
mortality improvement rates used to con-
struct generational tables to be used for
valuation dates occurring during 2023
are the Scale MP-2021 Rates, which are
included in the Mortality Improvement
Scale MP-2021 Report. The Office of the
Federal Register (OFR) has regulations
concerning incorporation by reference. 1
CFR part 51. These regulations require
that agencies must discuss in the pream-
ble to a rule or proposed rule the way in
which materials that the agency incorpo-
rates by reference are reasonably available
to interested persons, and how interested
parties can obtain the materials. 1 CFR
51.5(b).
The Scale MP-2021 Rates and the
Mortality Improvement Scale MP-2021
Report are described in this preamble
under the heading “B. Mortality Im-
provement” in the Explanation of Pro-
visions section of this preamble. The
Mortality Improvement Scale MP-2021
Report was issued by the Retirement
Plans Experience Committee of the So-
ciety of Actuaries on October 27, 2021,
and is available at https://www.soa.
org/resources/experience-studies/2021/
mortality-improvement-scale-mp-2021.
Statement of Availability of IRS
Documents
IRS Revenue Rulings, Revenue Pro-
cedures, and Notices cited in this docu-
ment are published in the Internal Rev-
enue Bulletin (or Cumulative Bulletin)
and are available from the Superinten-
dent of Documents, U.S. Government
Printing Office, Washington, DC 20402,
or by visiting the IRS website at www.
irs.gov.
Special Analyses
These regulations are not subject to re-
view under section 6(b) of Executive Or-
der 12866 pursuant to the Memorandum
of Agreement (April 11, 2018) between
the Treasury Department and the Office
of Management and Budget regarding re-
view of tax regulations.
Pursuant to the Regulatory Flexibili-
ty Act (5 U.S.C. chapter 6), it is hereby
certified that the regulations will not have
a significant economic impact on a sub-
stantial number of small entities. The only
provision that increases regulatory burden
is § 1.430(h)(3)-1(b), which generally re-
quires the use of generational mortality ta-
bles. However, under § 1.430(h)(3)-1(c),
small entities are not required to use gen-
erational mortality tables. Therefore, the
proposed rule would not have a significant
economic impact on a substantial number
of small entities.
Pursuant to section 7805(f) of the
Code, these proposed regulations will be
submitted to the Chief Counsel for Advo-
cacy of the Small Business Administra-
tion for comment on their impact on small
business.
9
RPEC cited uncertainty relating to the effectiveness of vaccines and treatments, severity of future variants, and the long-term effect of having recovered from COVID-19 on an employee’s
health.

Bulletin No. 2022–20 1081 May 16, 2022
Comments and Public Hearing
Before these proposed amendments
to the regulations are adopted as final
regulations, consideration will be given
to comments that are submitted timely
to the IRS as prescribed in the preamble
under the “ADDRESSES” section. The
Treasury Department and the IRS request
comments on all aspects of these proposed
regulations.
A public hearing is being held by
teleconference on June 28, 2022, be-
ginning at 10 a.m. EST. The rules of 26
CFR 601.601(a)(3) apply to the hear-
ing. Persons who wish to present oral
comments by telephone at the hearing
must submit electronic or written com-
ments and an outline of the topics to be
addressed and the time to be devoted
to each topic by June 9, 2022, as pre-
scribed in the preamble under the “AD-
DRESSES” section.
A period of 10 minutes will be allocat-
ed to each person for making comments.
After the deadline for receiving outlines
has passed, the IRS will prepare an agenda
containing the schedule of speakers. Cop-
ies of the agenda will be made available
at www.regulations.gov, search IRS and
REG-106384-20. Copies of the agenda
will also be available by emailing a re-
quest to publichearings@irs.gov. Please
put “REG-106384-20 Agenda Request” in
the subject line of the email.
Drafting Information
The principal authors of these regu-
lations are Arslan Malik and Linda S.
F. Marshall of the Office of Associate
Chief Counsel (Employee Benefits, Ex-
empt Organizations, and Employment
Taxes). However, other personnel from
the Treasury Department and the IRS
participated in the development of these
regulations.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and record-
keeping requirements.
Amendments to the Regulations
Accordingly, 26 CFR part 1 is pro-
posed to be amended as follows:
PART 1—INCOME TAXES
Paragraph 1. The authority citation for
part 1 continues to read, in part, as follows:
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 1.430(h)(3)-1 is revised
to read as follows:
§ 1.430(h)(3)-1 Mortality tables used to
determine present value.
(a) Overview—(1) Standard mortality
tables. This section sets forth rules for the
mortality tables to be used in determining
present value or making any computation
under section 430. These mortality tables
include—
(i) Generational mortality tables de-
scribed in paragraph (b) of this section;
and
(ii) Static mortality tables for small
plans described in paragraph (c) of this
section.
(2) Alternative tables—(i) Plan-spe-
cific mortality tables. In lieu of using the
mortality tables provided under this sec-
tion, plan-specific substitute mortality ta-
bles are permitted to be used for purposes
of section 430 pursuant to section 430(h)
(3)(C), provided that the requirements of §
1.430(h)(3)-2 are satisfied.
(ii) Disabled individuals. In lieu of us-
ing the mortality tables provided under
this section, mortality tables for disabled
individuals are permitted to be used pur-
suant to section 430(h)(3)(D). These ta-
bles are provided in guidance published
in the Internal Revenue Bulletin. See §
601.601(d) of this chapter.
(b) Generational mortality tables—(1)
In general—(i) Construction of genera-
tional mortality tables. The generational
mortality tables that are permitted to be
used under section 430(h)(3)(A) and para-
graph (a)(1)(i) of this section are construct-
ed from the base mortality tables described
in paragraph (b)(1)(ii) of this section and
the mortality improvement rates described
in paragraph (b)(1)(iii) of this section.
(ii) Base mortality tables. The base
mortality tables are set forth in paragraph
(d) of this section. The base year for those
tables is 2012.
(iii) Mortality improvement rates. The
mortality improvement rates for valuation
dates occurring during 2023 are the Scale
MP-2021 Rates.
Note 1 to paragraph (b)(1)(iii): For lat-
er years, updated mortality improvement
rates that take into account new data for
mortality improvement trends of the gen-
eral population will also be incorporated
by reference.
(iv) Incorporation by reference. The
material listed in this paragraph (b)(1)
(iv) is incorporated by reference into this
section with the approval of the Director
of the Federal Register under 5 U.S.C.
552(a) and 1 CFR part 51. This material
is available for inspection at the IRS and
at the National Archives and Records Ad-
ministration (NARA). Contact IRS at:
Qualified Plans Branch 1, CC:EEE:QP1,
1111 Constitution Avenue NW, Washing-
ton, DC 20224; (202) 317-6700; www.irs.
gov/retirement-plans/interest-rates-tables.
For information on the availability of this
material at NARA, email: fr.inspection@
nara.gov, or go to: www.archives.gov/fed-
eral-register/cfr/ibr-locations.html. The
material is available from the Society of
Actuaries at: Society of Actuaries, 475 N.
Martingale Rd., Suite 600, Schaumburg, IL
60173; (847) 706-3500; https://www.soa.
org/resources/experience-studies/2021/
mortality-improvement-scale-mp-2021/.
(A) The Scale MP-2021 Rates.
(B) [Reserved]
(2) Application of mortality improve-
ment rates—(i) In general. Under the gen-
erational mortality tables described in this
paragraph (b), the probability of an indi-
vidual’s death at a particular age in the fu-
ture is determined as the individual’s base
mortality rate that applies at that age (that
is, the applicable mortality rate from the
tables set forth in paragraph (d) of this sec-
tion for that age, gender, and status as an
annuitant or a non-annuitant) multiplied
by the cumulative mortality improvement
factor for the individual’s gender and for
that age for the period from 2012 through
the calendar year in which the individu-
al is projected to reach the particular age.
Paragraph (b)(3) of this section shows how
the base mortality tables in paragraph (d)
of this section and the mortality improve-
ment rates for valuation dates occurring
during 2023 are combined to determine
projected mortality rates.
(ii) Cumulative mortality improvement
factor. The cumulative mortality improve-
ment factor for an age and gender for a pe-
riod is the product of the annual mortality

May 16, 2022 1082 Bulletin No. 2022–20
improvement factors for that age and gen-
der for each year within that period.
(iii) Annual mortality improvement
factor. The annual mortality improvement
factor for an age and gender for a year is 1
minus the mortality improvement rate that
applies for that age and gender for that
year. If that annual mortality improvement
rate is greater than 1 (corresponding to a
negative mortality improvement rate),
then the projected mortality rate for that
age and gender for that year is greater than
the projected mortality rate for the same
age and gender for the preceding year.
(3) Example of calculation—(i) Calculation of
mortality rate. The mortality rate for 2023 that is
applied to male annuitants who are age 67 in 2023
is equal to the product of the mortality rate for
2012 that applied to male annuitants who were age
67 in 2012 (0.01288) and the cumulative mortality
improvement factor for age 67 males from 2012 to
2023. The cumulative mortality improvement factor
for age 67 males for the period from 2012 to 2023
is 0.9919, and the mortality rate for 2023 for male
annuitants who are age 67 in that year would be
0.01278, as shown in the following table.
Table 1 to Paragraph (b)(3)(i)
Calendar Year
Mortality Improvement
Rate
Annual Mortality
Improvement Factor (1- Mortality
Improvement Rate)
Cumulative Mortality
Improvement FactorMortality Rate
2012n/an/an/a0.01288
20130.00520.99480.9948
20140.00270.99730.9921
20150.00090.99910.9912
2016(0.0003)1.00030.9915
2017(0.0010)1.00100.9925
2018(0.0016)1.00160.9941
2019(0.0016)1.00160.9957
2020(0.0010)1.00100.9967
20210.00001.00000.9967
20220.00150.99850.9952
20230.00330.99670.99190.01278
(ii) Probability of survival for an individual. Af-
ter the projected mortality rates are derived for each
age for each year, the rates are used to calculate the
present value of a benefit stream that depends on the
probability of survival year-by-year. For example,
for purposes of calculating the present value (for a
2023 valuation date) of future payments in a benefit
stream payable for a male annuitant who is age 67 in
2023, the probability of survival for the annuitant is
based on the mortality rate for a male annuitant who
is age 67 in 2023 (0.01278), and the projected mor-
tality rate for a male annuitant who will be age 68 in
2024 (0.01378), age 69 in 2025 (0.01489), and so on.
(4) Use of the tables—(i) Separate tables for
annuitants and non-annuitants. Separate mortal-
ity tables are provided for use for annuitants and
non-annuitants. The non-annuitant mortality tables
are applied to determine the probability of survival
for a non-annuitant for the period before the non-an-
nuitant is projected to commence receiving benefits.
The annuitant mortality tables are applied to deter-
mine the present value of benefits for each annuitant.
In addition, the annuitant mortality tables are applied
for each non-annuitant with respect to each assumed
commencement of benefits for the period beginning
with that assumed commencement. For purposes
of this section, an annuitant means a plan partici-
pant who has commenced receiving benefits and a
non-annuitant means a plan participant who has not
yet commenced receiving benefits (for example, an
active employee or a terminated vested participant).
A participant whose benefit has partially commenced
is treated as an annuitant with respect to the portion
of the benefit that has commenced and treated as a
non-annuitant with respect to the balance of the ben-
efit. In addition, with respect to a beneficiary of a
participant, the annuitant mortality tables apply for
the period beginning with each assumed commence-
ment of benefits for the participant. If the participant
has died (or to the extent the participant is assumed
to die before commencing benefits), the annuitant
mortality tables apply with respect to the beneficiary
for the period beginning with each assumed com-
mencement of benefits for the beneficiary.
(ii) Examples of calculation using separate
non-annuitant and annuitant tables. With respect
to a 45-year-old active participant who is projected
to commence receiving an annuity at age 55, the
funding target is determined using the non-annuitant
mortality tables for the period before the participant
attains age 55 and using the annuitant mortality ta-
bles for the period ages 55 and above. Similarly,
for a 45-year-old terminated vested participant who
is projected to commence an annuity at age 65, the
funding target is determined using the non-annuitant
mortality tables for the period before the participant
attains age 65 and using the annuitant mortality ta-
bles for ages 65 and above.
(c) Static mortality tables—(1) Availability of
alternative tables for small plans—(i) In general.
As an alternative to the generational mortality ta-
bles defined in paragraph (b) of this section, static
mortality tables may be used for a small plan. The
static mortality tables described in this paragraph
(c) are constructed from the separate non-annuitant
and annuitant static mortality tables described in
paragraph (c)(2)(i) of this section, combined using
the procedure described in paragraph (c)(2)(ii) of
this section.
(ii) Definition of small plan. For purposes of
this paragraph (c), a small plan is defined as a plan
with 500 or fewer total participants (including both
active and inactive participants and beneficiaries of
deceased participants) on the valuation date.
(iii) Use of static mortality tables. The static
mortality tables that are used for a valuation date are
the static mortality tables for the calendar year that
includes the valuation date.
(iv) Publication of mortality tables. The static
mortality tables for the 2023 calendar year are set
forth in paragraph (e) of this section.
Note 2 to paragraph (c)(1)(iv): The static mortal-
ity tables for valuation dates for later calendar years
will be published in the Internal Revenue Bulletin.
See § 601.601(d) of this chapter.
(2) Development of static mortality tables—(i)
Non-annuitant and annuitant mortality tables. The
non-annuitant and annuitant static mortality tables
are determined using the base mortality tables de-
scribed in paragraph (b)(1)(ii) of this section. The
rates in those base mortality tables are adjusted using
the mortality improvement rates described in para-
graph (b)(1)(iii) of this section, in accordance with
the rules set forth in paragraph (c)(3) of this section.
(ii) Combined static mortality tables. The static
mortality tables described in this paragraph (c) are

Bulletin No. 2022–20 1083 May 16, 2022
constructed from the separate non-annuitant and
annuitant static mortality tables pursuant to para-
graph (c)(2)(i) of this section, blended using the
weighting factors in paragraph (d) of this section.
The weighting factors are applied to develop these
combined static tables using the following equa-
tion: Combined mortality rate = [non-annuitant rate
* (1- weighting factor)] + [annuitant rate * weight-
ing factor].
(3) Projection of mortality improvements—(i)
General rule. Except as provided in paragraph (c)
(3)(iii) of this section, the static mortality tables for
a calendar year are determined by multiplying the
applicable mortality rate for each age from the base
mortality tables by both—
(A) The cumulative mortality improvement fac-
tor (determined under paragraph (b)(2)(ii) of this
section) for the period from 2012 through that cal-
endar year; and
(B) The cumulative mortality improvement fac-
tor (determined under paragraph (b)(2)(ii) of this
section) for the period beginning in that calendar
year and continuing beyond that calendar year for the
number of years in the projection period described in
paragraph (c)(3)(ii) of this section.
(ii) Projection period for static mortality ta-
bles—(A) In general. The projection period is 8
years for males and 9 years for females, as adjusted
based on age as provided in paragraph (c)(3)(ii)(B)
of this section.
(B) Age adjustment. For ages below 80, the pro-
jection period is increased by 1 year for each year
below age 80. For ages above 80, the projection pe-
riod is reduced (but not below zero) by ⅓ year for
each year above 80.
(iii) Fractional projection periods. If for an age
the number of years in the projection period deter-
mined under paragraph (c)(3)(ii) of this section is not
a whole number, then the mortality rate for that age is
determined by using linear interpolation between—
(A) The mortality rate for that age that would be
determined under paragraph (c)(3)(i) of this section
if the number of years in the projection period were
the next lower whole number; and
(B) The mortality rate for that age that would be
determined under paragraph (c)(3)(i) of this section
if the number of years in the projection period were
the next higher whole number.
(iv) Example. For example, at age 85 the projec-
tion period for a male is 6⅓ years (8 years minus
⅓ year for each of the 5 years above age 80). For a
valuation date in 2023, the mortality rate in the static
mortality table for an 85-year-old male is based on
a projection of mortality improvement for 6⅓ years
beyond 2023. Under paragraph (c)(3)(iii) of this sec-
tion, the mortality rate for an 85-year-old male annu-
itant in the static mortality table for 2023 is ⅔ times
the projected mortality rate for a male annuitant that
age in 2029 plus ⅓ times the projected mortality rate
for a male annuitant that age in 2030. Accordingly,
the mortality rate for an 85-year-old male annuitant
in the static mortality table for 2023 is 0.07967 (⅔
times the projected mortality rate for an 85-year-old
male annuitant in 2029 (0.07986) plus ⅓ times the
projected mortality rate for an 85-year-old male an-
nuitant in 2030 (0.07928)).
(d) Base mortality tables. The following are the
base mortality tables. The base year for these tables
is 2012.
Table 2 to Paragraph (d)
MalesFemales
AgeNon-AnnuitantAnnuitant
Weighting Factor For
Small PlansNon-AnnuitantAnnuitant
Weighting Factor For
Small Plans
00.006500.006500.00000.005440.005440.0000
10.000450.000450.00000.000380.000380.0000
20.000300.000300.00000.000230.000230.0000
30.000220.000220.00000.000180.000180.0000
40.000190.000190.00000.000130.000130.0000
50.000160.000160.00000.000120.000120.0000
60.000140.000140.00000.000110.000110.0000
70.000130.000130.00000.000100.000100.0000
80.000110.000110.00000.000090.000090.0000
90.000090.000090.00000.000090.000090.0000
100.000080.000080.00000.000090.000090.0000
110.000090.000090.00000.000090.000090.0000
120.000130.000130.00000.000100.000100.0000
130.000170.000170.00000.000120.000120.0000
140.000220.000220.00000.000130.000130.0000
150.000280.000280.00000.000130.000130.0000
160.000340.000340.00000.000140.000140.0000
170.000400.000400.00000.000150.000150.0000
180.000460.000460.00000.000150.000150.0000
190.000530.000530.00000.000150.000150.0000
200.000560.000560.00000.000150.000150.0000
210.000560.000560.00000.000150.000150.0000
220.000560.000560.00000.000160.000160.0000
230.000550.000550.00000.000180.000180.0000
240.000550.000550.00000.000190.000190.0000
250.000540.000540.00000.000190.000190.0000
260.000540.000540.00000.000190.000190.0000

May 16, 2022 1084 Bulletin No. 2022–20
MalesFemales
AgeNon-AnnuitantAnnuitant
Weighting Factor For
Small PlansNon-AnnuitantAnnuitant
Weighting Factor For
Small Plans
270.000540.000540.00000.000200.000200.0000
280.000540.000540.00000.000200.000200.0000
290.000540.000540.00000.000200.000200.0000
300.000550.000550.00000.000210.000210.0000
310.000550.000550.00000.000220.000220.0000
320.000560.000560.00000.000230.000230.0000
330.000580.000580.00000.000250.000250.0000
340.000590.000590.00000.000260.000260.0000
350.000610.000610.00000.000280.000280.0000
360.000630.000630.00000.000310.000310.0000
370.000650.000650.00000.000340.000340.0000
380.000680.000680.00000.000360.000360.0000
390.000710.000710.00000.000400.000400.0000
400.000740.000740.00000.000430.000430.0000
410.000770.000820.00080.000470.000490.0010
420.000810.000990.00160.000510.000610.0020
430.000860.001240.00240.000550.000780.0030
440.000910.001580.00320.000600.001010.0040
450.000970.002000.00400.000650.001300.0051
460.001050.002510.00470.000710.001650.0061
470.001130.003100.00550.000770.002060.0071
480.001230.003780.00630.000830.002520.0081
490.001340.004540.00710.000900.003040.0091
500.001470.005390.00790.000980.003620.0101
510.001610.005440.01400.001070.004260.0185
520.001770.005650.02090.001160.004950.0262
530.001940.005880.03020.001260.005000.0349
540.002130.006160.04300.001370.005120.0449
550.002340.006470.08980.001480.005170.0853
560.002570.006860.16760.001610.005220.1535
570.002810.007280.21530.001750.005280.1923
580.003080.007700.26350.001900.005610.2291
590.003380.008110.31440.002060.006010.2680
600.003690.008480.38210.002240.006430.3192
610.004030.008820.45790.002430.006900.3731
620.004410.009180.59350.002640.007430.4705
630.004810.009600.71530.002870.007960.5668
640.005250.010140.77640.003120.008590.6230
650.005730.010870.84540.003390.009280.7172
660.006360.011780.90020.003800.010030.8006
670.007060.012880.92750.004270.010890.8414
680.007840.014180.94310.004800.011920.8658
690.008700.015640.95470.005400.013090.8857
700.009670.017290.96420.006060.014440.9046
710.010730.019140.97320.006810.015970.9240
720.011920.021210.97910.007650.017700.9365
730.013230.023540.98230.008600.019670.9437

Bulletin No. 2022–20 1085 May 16, 2022
MalesFemales
AgeNon-AnnuitantAnnuitant
Weighting Factor For
Small PlansNon-AnnuitantAnnuitant
Weighting Factor For
Small Plans
740.014690.026130.98470.009660.021920.9512
750.016320.029050.98680.010850.024450.9568
760.018120.032330.98890.012190.027270.9637
770.020120.036040.99060.013700.030420.9682
780.022340.040260.99200.015390.033910.9727
790.024800.045040.99350.017290.037750.9765
800.027540.050461.00000.019430.041981.0000
810.029890.056571.00000.021340.046631.0000
820.034600.063431.00000.025160.051781.0000
830.041660.071141.00000.030890.057541.0000
840.051080.079771.00000.038530.064011.0000
850.062850.089461.00000.048080.071321.0000
860.076980.100321.00000.059550.079541.0000
870.093460.112481.00000.072930.088791.0000
880.112290.126001.00000.088220.099361.0000
890.133480.140881.00000.105420.111241.0000
900.157030.157031.00000.124530.124531.0000
910.174010.174011.00000.138180.138181.0000
920.191510.191511.00000.152500.152501.0000
930.209360.209361.00000.167370.167371.0000
940.227420.227421.00000.182740.182741.0000
950.245690.245691.00000.198630.198631.0000
960.264150.264151.00000.215090.215091.0000
970.282810.282811.00000.232140.232141.0000
980.301690.301691.00000.249830.249831.0000
990.320770.320771.00000.268140.268141.0000
1000.339960.339961.00000.286980.286981.0000
1010.359100.359101.00000.306190.306191.0000
1020.377940.377941.00000.325490.325491.0000
1030.396330.396331.00000.344720.344721.0000
1040.414150.414151.00000.363750.363751.0000
1050.431310.431311.00000.382430.382431.0000
1060.447710.447711.00000.400650.400651.0000
1070.463290.463291.00000.418280.418281.0000
1080.478000.478001.00000.435220.435221.0000
1090.491810.491811.00000.451390.451391.0000
1100.500000.500001.00000.466730.466731.0000
1110.500000.500001.00000.481200.481201.0000
1120.500000.500001.00000.494770.494771.0000
1130.500000.500001.00000.500000.500001.0000
1140.500000.500001.00000.500000.500001.0000
1150.500000.500001.00000.500000.500001.0000
1160.500000.500001.00000.500000.500001.0000
1170.500000.500001.00000.500000.500001.0000
1180.500000.500001.00000.500000.500001.0000
1190.500000.500001.00000.500000.500001.0000
1201.000001.000001.00001.000001.000001.0000

May 16, 2022 1086 Bulletin No. 2022–20
(e) Static tables for 2023. The following stat-
ic mortality tables are used pursuant to paragraph
(a)(1)(ii) of this section for determining present
value or making any computation under section
430 with respect to valuation dates occurring
during 2023.
Table 3 to Paragraph (e)
AgeMaleFemale
00.002260.00194
10.000160.00014
20.000110.00008
30.000080.00007
40.000070.00005
50.000060.00005
60.000050.00004
70.000050.00004
80.000040.00004
90.000040.00004
100.000030.00004
110.000040.00004
120.000050.00004
130.000070.00005
140.000090.00006
150.000120.00006
160.000150.00006
170.000170.00007
180.000200.00007
190.000240.00007
200.000260.00007
210.000260.00007
220.000270.00008
230.000270.00009
240.000280.00010
250.000290.00010
260.000300.00011
270.000320.00012
280.000330.00012
290.000350.00013
300.000370.00014
310.000380.00015
320.000400.00016
330.000430.00018
340.000450.00018
350.000480.00020
360.000510.00022
370.000530.00024
380.000550.00026
390.000580.00028
400.000590.00029
410.000610.00031
420.000630.00033
430.000650.00035

Bulletin No. 2022–20 1087 May 16, 2022
AgeMaleFemale
440.000670.00037
450.000690.00039
460.000730.00042
470.000780.00046
480.000830.00049
490.000880.00053
500.000970.00059
510.001060.00065
520.001180.00074
530.001320.00084
540.001480.00094
550.001760.00113
560.002170.00140
570.002540.00161
580.002960.00188
590.003420.00218
600.003960.00254
610.004560.00294
620.005390.00354
630.006230.00418
640.006930.00476
650.007790.00555
660.008740.00640
670.009720.00717
680.010810.00798
690.012010.00893
700.013370.01002
710.014900.01130
720.016630.01276
730.018580.01442
740.020810.01636
750.023360.01858
760.026290.02115
770.029660.02406
780.033530.02736
790.037960.03106
800.043130.03557
810.048680.04000
820.055030.04498
830.062230.05058
840.070400.05694
850.079670.06416
860.090140.07229
870.101910.08147
880.115070.09197
890.129600.10372
900.145400.11681
910.162010.13032
920.179000.14437

May 16, 2022 1088 Bulletin No. 2022–20
AgeMaleFemale
930.196230.15892
940.213510.17370
950.230630.18881
960.248790.20508
970.267250.22194
980.285910.23947
990.305020.25760
1000.324310.27640
1010.343720.29564
1020.363070.31511
1030.382230.33471
1040.400970.35426
1050.418630.37356
1060.435810.39243
1070.452340.41085
1080.467960.42844
1090.482880.44529
1100.492400.46134
1110.493740.47665
1120.495070.49112
1130.496510.49746
1140.497950.49840
1150.499300.49950
1160.499600.49975
1170.499800.49985
1180.499950.50000
1190.500000.50000
1201.000001.00000
(f) Applicability date. This section ap-
plies for plan years beginning on or after
January 1, 2023.
Par. 3. Section 1.431(c)(6)-1 is revised
to read as follows:
§ 1.431(c)(6)-1 Mortality tables used to
determine current liability.
(a) Mortality tables used to determine
current liability. In accordance with sec-
tion 431(c)(6)(D), the mortality assump-
tions that apply to a single-employer
defined benefit plan for the plan year pur-
suant to sections 430(h)(3)(A) and 430(h)
(3)(D) and §§ 1.430(h)(3)-1(a)(1) and (a)
(2)(ii) are used to determine a multiem-
ployer plan’s current liability for purpos-
es of applying the rules of section 431(c)
(6). For purposes of this paragraph (a),
either the generational mortality tables
used pursuant to § 1.430(h)(3)-1(b) or the
static mortality tables used pursuant to §
1.430(h)(3)-1(c) are permitted to be used
without regard to whether the plan is a
small plan. However, substitute mortali-
ty tables under §§ 1.430(h)(3)-1(a)(2)(i)
and 1.430(h)(3)-2 are not permitted to be
used for purposes of this paragraph (a).
(b) Applicability date. This section ap-
plies for plan years beginning on or after
January 1, 2023.
Par. 4. Section 1.433(h)(3)-1 is revised
to read as follows:
§1.433(h)(3)-1 Mortality tables used to
determine current liability.
(a) Mortality tables used to deter-
mine current liability. In accordance with
section 433(h)(3)(B), the mortality as-
sumptions that apply to a single-employer
defined benefit plan for the plan year pur-
suant to sections 430(h)(3)(A) and 430(h)
(3)(D) and §§ 1.430(h)(3)-1(a)(1) and (a)
(2)(ii) are used to determine a cooperative
and small-employer charity (CSEC) plan’s
current liability under section 433(h). For
purposes of this paragraph (a), either the
generational mortality tables used pursu-
ant to §1.430(h)(3)-1(b) or the static mor-
tality tables used pursuant to §1.430(h)
(3)-1(c) are permitted to be used without
regard to whether the plan is a small plan.
However, substitute mortality tables under
§§ 1.430(h)(3)-1(a)(2)(i) and 1.430(h)(3)-
2 are not permitted to be used for purposes
of this paragraph (a).

Bulletin No. 2022–20 1089 May 16, 2022
(b) Applicability date. This section ap-
plies for plan years beginning on or after
January 1, 2023.
Douglas W. O’Donnell,
Deputy Commissioner for Services
and Enforcement.
(Filed by the Office of the Federal Register on April
27, 2022, 8:45 a.m., and published in the issue of
the Federal Register for April 28, 2022, 87 F.R.
25161)
Notice of Proposed
Rulemaking Estate and Gift
Taxes; Limitation on the
Special Rule Regarding
a Difference in the Basic
Exclusion Amount
REG-118913-21
AGENCY: Internal Revenue Service
(IRS), Treasury.
ACTION: Notice of proposed rulemaking.
SUMMARY: This document contains
proposed amendments to the Estate Tax
Regulations relating to the basic exclusion
amount (BEA) applicable to the computa-
tion of Federal estate and gift taxes. The
proposed regulations affect the estates of
decedents dying after a reduction in the
BEA who made certain types of gifts after
2017 and before a reduction in the BEA.
DATES: Written or electronic comments
and requests for a public hearing must be
received by July 26, 2022. Requests for a
public hearing must be submitted as pre-
scribed in the “Comments and Requests
for a Public Hearing” section.
ADDRESSES: Commenters are strongly
encouraged to submit public comments
electronically. Submit electronic submis-
sions via the Federal eRulemaking Portal
at https://www.regulations.gov (indicate
IRS and REG-118913-21) by following
the online instructions for submitting
comments. Once submitted to the Federal
eRulemaking Portal, comments cannot be
edited or withdrawn. The IRS expects to
have limited personnel available to pro-
cess public comments that are submitted
on paper through the mail. Until further
notice, any comments submitted on paper
will be considered to the extent practica-
ble. The Department of the Treasury (Trea-
sury Department) and the IRS will publish
for public availability any comment sub-
mitted electronically, and to the extent
practicable on paper, to its public docket.
Send paper submissions to: CC:PA:LP-
D:PR (REG-118913-21), Room 5203,
Internal Revenue Service, PO Box 7604,
Ben Franklin Station, Washington, D.C.
20044.
FOR FURTHER INFORMATION
CONTACT: Concerning the proposed
regulations, John D. MacEachen at (202)
317-6859; concerning submissions of
comments, the public hearing, and the
access code to attend the hearing by tele-
phone, Regina Johnson at (202) 317-5177
(not toll-free numbers) or by sending an
email to Publichearings@irs.gov.
SUPPLEMENTARY INFORMATION:
Background
Section 11061 of the Tax Cuts and Jobs
Act, Pub. L. 115-97, 131 Stat. 2054, 2091
(2017) (TCJA), amended section 2010(c)
(3) of the Internal Revenue Code (Code)
to provide that, for decedents dying and
gifts made after December 31, 2017, and
before January 1, 2026, the BEA is in-
creased by $5 million to $10 million as
adjusted for inflation (increased BEA).
Under the TCJA, on January 1, 2026, the
BEA will revert to $5 million as adjusted
for inflation.
Section 11061 of the TCJA also add-
ed new section 2001(g)(2) to the general
statute of the Code that imposes the Fed-
eral estate tax. Section 2001(g)(2) grants
the Secretary of the Treasury or her del-
egate (Secretary) authority to prescribe
such regulations as may be necessary
or appropriate to carry out section 2001
with respect to any difference between
the BEA applicable at the time of a dece-
dent’s death and the BEA applicable with
respect to any gifts made by the decedent.
This specific authority is in addition to the
Secretary’s preexisting authority under
section 2010(c)(6) to prescribe such regu-
lations as may be necessary or appropriate
to carry out section 2010(c).
On November 26, 2019, the Treasury
Department and the IRS published final
regulations under section 2010 (TD 9884)
in the Federal Register (84 FR 64995)
to address situations described in section
2001(g)(2) (final regulations). The final
regulations adopted §20.2010-1(c), a spe-
cial rule (special rule) applicable in cases
where the credit against the estate tax that
is attributable to the BEA is less at the date
of death than the sum of the credits attrib-
utable to the BEA allowable in computing
gift tax payable within the meaning of sec-
tion 2001(b)(2) with regard to the dece-
dent’s lifetime gifts. In such cases, the por-
tion of the credit against the net tentative
estate tax that is attributable to the BEA is
based on the sum of the credits attribut-
able to the BEA allowable in computing
gift tax payable regarding the decedent’s
lifetime gifts. The rule ensures that the es-
tate of a donor is not taxed on completed
gifts that, as a result of the increased BEA,
were free of gift tax when made. The pre-
amble to the final regulations stated that
further consideration would be given to
the issue of whether gifts that are not true
inter vivos transfers, but rather are inclu-
dible in the gross estate, should be except-
ed from the special rule, and that any pro-
posal addressing this issue would benefit
from notice and comment.
This document contains proposed
amendments to the Estate Tax Regula-
tions (26 CFR part 20) relating to the
BEA described in section 2010(c)(3)
of the Code (proposed regulations), for
which purpose the final regulations re-
served §20.2010-1(c)(3). The special
rule currently does not distinguish be-
tween: (i) completed gifts that are treat-
ed as adjusted taxable gifts for estate tax
purposes and that, by definition, are not
included in the donor’s gross estate; and
(ii) completed gifts that are treated as tes-
tamentary transfers for estate tax purpos-
es and are included in the donor’s gross
estate (includible gift). The Code and
the regulations, however, do distinguish

May 16, 2022 1090 Bulletin No. 2022–20
between these two types of transfers.
Section 2001(b) (flush language) ex-
cludes from the term “adjusted taxable
gifts” gifts that are includible in the gross
estate. Section 2701(e)(6) and §25.2701-
5 similarly remove from adjusted taxable
gifts transfers includible in the gross es-
tate that previously were subject to the
special valuation rules of section 2701.
See also §25.2702-6 (excluding from
adjusted taxable gifts certain transfers
includible in the gross estate that previ-
ously were subject to the special valua-
tion rules of section 2702) and Rev. Rul.
84-25, 1984-1 C.B. 191 (excluding from
adjusted taxable gifts completed trans-
fers that will be satisfied with assets in-
cludible in the gross estate). In keeping
with the statutory distinction between
completed gifts that are treated as ad-
justed taxable gifts and completed gifts
that are treated as testamentary transfers,
these proposed regulations generally
would deny the benefit of the special rule
to includible gifts.
Regardless of whether a gift is treated
as an adjusted taxable gift or as an inclu-
dible gift for estate tax purposes, the Code
ensures that the gift is treated consistently
with respect to the credits allowable in the
year in which the gift was made. See dis-
cussion of the five statutory steps of the
estate tax computation in part III, Federal
Estate Tax Computation Generally, in the
Background section of the preamble to the
notice of proposed rulemaking under sec-
tion 2010 (REG-106706-18) published in
the Federal Register (83 FR 59343) on
November 23, 2018. The exclusion from
adjusted taxable gifts of transfers includi-
ble in the gross estate does not affect the
second step of the estate tax computation,
the determination of a hypothetical gift tax
referred to as the gift tax payable. Gift tax
payable is based upon all post-1976 tax-
able gifts, whether or not included in the
gross estate. See sections 2001(b)(2) and
(g)(1), requiring the determination of a
hypothetical gift tax on all post-1976 tax-
able gifts, which is a gift tax reduced, but
not to below zero, by the credit amounts
allowable in the years of the gifts. Both
the hypothetical gift tax and the credit
amounts are computed using the gift tax
rates in effect at the date of death. Thus,
for purposes of computing the estate tax,
an includible gift receives credit for all
credit amounts, including those attribut-
able to the increased BEA, allowable in
the years in which the gift was made.
A commenter recommended con-
sideration of whether the special rule
should apply to taxable gifts made
during an increased BEA period that are
essentially testamentary and thus are in-
cluded in the gross estate rather than in
adjusted taxable gifts. See discussion in
part 6, Anti-Abuse Rule, of the Summary
of Comments and Explanation of Re-
visions in the final regulations. If such
transfers are subject to the special rule,
they can be made in a manner designed
to make the increased BEA available
against the donor’s estate tax despite the
fact that the donor has retained the ben-
eficial use of or the control of the trans-
ferred property. Examples of such trans-
fers include gifts subject to a retained
life estate or subject to other powers or
interests as described in sections 2035
through 2038 and 2042 of the Code,
gifts made by enforceable promise as
described in Rev. Rul. 84-25, supra,
and gifts subject to the special valuation
rules of sections 2701 and 2702. In rec-
ommending an exception to the special
rule, the commenter cautioned that at-
tention should also be given to the po-
tential to work around an exception that
relies solely on whether gifts are inclu-
dible in the gross estate. For example,
a donor may attempt to make the in-
creased BEA available against the estate
tax under the special rule by the removal
shortly before the donor’s death of the
donor’s beneficial use of or the control
of the transferred property. Examples
of these types of transfers include the
elimination by a third party, shortly be-
fore the donor’s death, of the interests
or powers that otherwise would have re-
sulted in the inclusion of the transferred
interest or property in the donor’s gross
estate; the payment shortly before death
of a gift made by enforceable promise
as described in Rev. Rul. 84-25, supra;
and the transfer shortly before death
of a section 2701 interest within the
meaning of §25.2701-5(a)(4) or a sec-
tion 2702 interest within the meaning of
§25.2702-6(a)(1).
The purpose of the special rule is to
ensure that bona fide inter vivos transfers
of property are consistently treated as a
transfer of property by gift for both gift
and estate tax purposes. Bona fide inter
vivos gifts are subject to the gift tax based
on the values, gift tax rates, and exclusions
applicable as of the date of the gift. While
such a gift is treated as an adjusted taxable
gift for purposes of determining the estate
tax rate to be applied to the value of the
taxable estate, the gift is not includible in
the donor’s gross estate at death and is not
subject to the estate tax. The special rule
avoids the imposition of the estate tax on
the gift by ensuring that the gifted proper-
ty is treated solely as an adjusted taxable
gift and not also as property includible in
the gross estate.
Unlike an adjusted taxable gift, how-
ever, a gift of property that is includible
in the donor’s gross estate is subject to
estate tax based on the values, estate tax
rates, and exclusions applicable as of the
date of death. The Code itself ensures that
an includible gift is not treated as both an
adjusted taxable gift and an inclusion in
the gross estate. See section 2001(b) (flush
language), excluding from “adjusted tax-
able gifts” gifts that are includible in the
gross estate. The Code also ensures that an
includible gift receives credit for any cred-
it amounts allowable in the years in which
the gift was made. See sections 2001(b)(2)
and (g)(1). The treatment of an includible
gift for estate tax purposes results in the
correct outcome without any application
of the special rule: the property is included
in the gross estate and subject to the BEA
in effect at the donor’s death.
There is a subset of includible gifts
that the Code treats in a different fash-
ion, but still in a way that results in the
correct outcome without the application
of the special rule. That subset consists
of gifts made during an increased BEA
period that are essentially testamentary,
but the entire value of which is deduct-
ible for gift tax purposes by reason of the
charitable or marital deduction (or both).
Such transfers are excluded from adjust-
ed taxable gifts because they never were
taxable gifts in the first place. See section
2503(a), defining taxable gifts as the to-
tal amount of gifts made during the cal-
endar year less the deductions provided
in sections 2522 and 2523 for charitable
and marital gifts, respectively. As a result
of the exclusion of charitable and mari-
tal gifts from taxable gifts, and thus from

Bulletin No. 2022–20 1091 May 16, 2022
adjusted taxable gifts, there would be no
credits allocable to these gifts attributable
to the BEA in computing gift tax payable
within the meaning of section 2001(b)(2).
Because no BEA is applicable to the de-
ductible gifts, there will be no difference
between the BEA applicable to these gifts
attributable to the increased BEA and the
BEA applicable to the decedent’s estate.
As a result, there is no possibility of in-
consistent gift and estate taxation of such
an includible gift, and thus no need for the
application of the special rule.
Without additional rules, however, the
application of the special rule to inclu-
dible gifts results in securing the benefit
of the increased BEA in circumstances
where the donor continues to have the ti-
tle, possession, use, benefit, control, or en-
joyment of the transferred property during
life. In those circumstances, there is no
possibility of the inclusion of the gift in
adjusted taxable gifts at the death of the
donor, and therefore no need for the ap-
plication of the special rule to transfers of
such property. In those circumstances, it
is appropriate that the amount includible
or treated as includible as part of the gross
estate (rather than as an adjusted taxable
gift) is subject to estate tax with the ben-
efit of only the BEA available at the date
of death. Section 2001(g)(2) directs the
Secretary to prescribe such regulations as
may be necessary or appropriate to carry
out section 2001 with respect to any dif-
ference between the BEA applicable at the
time of the decedent’s death and the BEA
applicable with respect to any gifts made
by the decedent. Given the plain language
of the Code describing the computation
of the estate tax and directing that certain
transfers, including transfers made within
three years of death that otherwise would
have been includible in the gross estate,
are treated as testamentary transfers and
not as adjusted taxable gifts, it would be
inappropriate to apply the special rule to
includible gifts. This is particularly true
where the inter vivos transfers are not true
bona fide transfers in which the decedent
“absolutely, unequivocally, irrevocably,
and without possible reservations, parts
with all of his title and all of his possession
and all of his enjoyment of the transferred
property.” Commissioner v. Church’s Es-
tate, 335 U.S. 632, 645 (1949). To prevent
this inappropriate result, these proposed
regulations would create an exception to
the special rule applicable to includible
gifts.
The same commenter suggested that
any exception to the special rule relating to
transfers within the scope of section 2701
be specifically addressed in §25.2701-5.
This suggestion is not adopted. Section
25.2701-5(a)(3) provides rules under
which the estate of a decedent who made
a transfer subject to section 2701 may
reduce the decedent’s adjusted taxable
gifts in a manner similar to that of sec-
tion 2001(b) so as to eliminate the amount
duplicated in the transfer tax base. The
amount of the reduction in adjusted tax-
able gifts is determined under §25.2701-
5(b). See also §25.2702-6(b), providing a
similar rule for certain interests previously
subject to section 2702. Both §§25.2701-5
and 25.2702-6 address only the amount of
adjusted taxable gifts but, with the excep-
tion of §25.2701-5(e)(3), do not address
the amount of the credits allowable in the
multiple steps necessary to determine the
estate tax. As previously discussed, the
effect of the estate tax computation is to
provide the decedent the benefit of any
credit amounts allowable in the years of
the gifts, determined at date of death gift
tax rates, including the credit amount at-
tributable to a section 2701 or 2702 trans-
fer that was free of gift tax when made as
a result of the increased BEA, regardless
of whether the amount of adjusted tax-
able gifts is later reduced for estate tax
purposes. Thus, while a reduction in the
amount of adjusted taxable gifts elimi-
nates amounts duplicated in the transfer
tax base, it neither changes the existence
of the transfer nor frees up the credit allo-
cable to that transfer. See, e.g., the Back-
ground section of the preamble to Adjust-
ments Under Special Valuation Rules (TD
8536), published in the Federal Register
(59 FR 23152) on May 5, 1994, explain-
ing that the §25.2701-5 regulations do not
“purge” a section 2701 transfer as if it had
not occurred, but rather mitigate the effect
of double taxation through a reduction in a
decedent’s adjusted taxable gifts.
As noted earlier, §25.2701-5(e)(3)
permits an adjustment to both the adjust-
ed taxable gifts and gift tax payable of a
consenting spouse. In the case of an elec-
tion under section 2513 to split a section
2701 transfer with the donor’s spouse, a
later testamentary transfer of the section
2701 interest is treated as made solely by
the donor spouse. The consenting spouse’s
adjusted taxable gifts and gift tax payable
are each reduced to eliminate any remain-
ing effect of the section 2701 interest on
the consenting spouse in a manner that is
generally consistent with the principles
of sections 2001(d) and (e) (pertaining to
the treatment of split gifts in the compu-
tation of the estate tax). This exception
has no application to the donor spouse,
who remains subject to the general rule of
§25.2701-5(a)(3). Thus, it is not necessary
to address differences in the BEA in either
§25.2701-5 or §25.2702-6(b).
Explanation of Provisions
Pursuant to sections 2010(c)(6) and
2001(g)(2) of the Code, the proposed reg-
ulations would add proposed §20.2010-
1(c)(3) to provide an exception to the spe-
cial rule for transfers that are includible in
the gross estate or are treated as includible
in the gross estate for purposes of section
2001(b), including for example gifts sub-
ject to a retained life estate or subject to
other powers or interests as described in
sections 2035 through 2038 and 2042 of
the Code regardless of whether the trans-
fer was deductible pursuant to section
2522 or 2523, gifts made by enforceable
promise, and other amounts that are dupli-
cated in the transfer tax base, including a
section 2701 interest within the meaning
of §25.2701-5(a)(4) and a section 2702
interest within the meaning of §25.2702-
6(a)(1). The exception to the special rule
also would apply to transfers that would
be described in the preceding sentence but
for the transfer, elimination, or relinquish-
ment within 18 months of the donor’s
date of death of the interest or power that
would have caused inclusion in the gross
estate, effectively allowing the donor to
retain the enjoyment of the property for
life. In addition to transfers, eliminations,
or relinquishments by the donor, examples
include the elimination, by a third party
having the power to eliminate or extin-
guish the interest or power, of the interests
or powers that otherwise would have re-
sulted in inclusion of transferred property
in the donor’s gross estate; the payment
of a gift made by enforceable promise
as described in Rev. Rul. 84-25, supra;

May 16, 2022 1092 Bulletin No. 2022–20
and the transfer of a section 2701 interest
within the meaning of §25.2701-5(a)(4) or
a section 2702 interest within the mean-
ing of §25.2702-6(a)(1). For purposes of
the preceding sentence, such transfers,
eliminations, and relinquishments include
those effectuated by the donor, the donor
in conjunction with any other person, or
by any other person, but do not include
those effectuated by the expiration of the
period described in the original instrument
of transfer, whether by a death or the lapse
of time.
The special rule, however, would con-
tinue to apply to transfers includible in
the gross estate when the taxable amount
of the gift is not material, that is, the tax-
able amount is 5 percent or less of the
total amount of the transfer, valued as of
the date of the transfer. Compare section
2037(a)(2), excluding from the gross es-
tate property subject to a reversionary in-
terest where the value of such interest im-
mediately before death is 5 percent or less
of the value of the transferred property;
and section 2042(2), excluding from the
term “incidents of ownership” reversion-
ary interests where the value of such inter-
est immediately before death is 5 percent
or less of the value of the life insurance
policy. See also section 673(a), treating
the grantor as the owner for income tax
purposes of any portion of a trust in which
the grantor’s reversionary interest exceeds
5 percent of the value of such portion as of
the date of inception of that portion of the
trust. This bright-line exception to the spe-
cial rule is proposed in lieu of a facts and
circumstances determination of whether
a particular transfer was intended to take
advantage of the increased BEA without
depriving the donor of the use and enjoy-
ment of the property.
The proposed exception to the special
rule may be illustrated by the following
example. Assume that when the BEA was
$11.4 million, a donor gratuitously trans-
ferred the donor’s enforceable $9 million
promissory note to the donor’s child. The
transfer constituted a completed gift of $9
million. On the donor’s death, the assets
that are to be used to satisfy the note are
part of the donor’s gross estate, with the
result that the note is treated as includible
in the gross estate for purposes of sec-
tion 2001(b). Thus, the $9 million gift is
excluded from adjusted taxable gifts in
computing the tentative estate tax under
section 2001(b)(1). Nonetheless, if the
donor dies after a statutory reduction in
the BEA to $6.8 million, the credit to be
applied in computing the estate tax is the
credit based upon the $6.8 million of the
BEA allowable as of the date of death.
Applicability Date
Once these regulations have been pub-
lished as final regulations, it is proposed
that these regulations be applicable to
the estates of decedents dying on or after
April 27, 2022. The special rule will not be
needed until the basic exclusion amount
has been decreased by statute; under cur-
rent law, that is scheduled to occur for
the estates of decedents dying after 2025.
However, if such a decrease is enacted on
or after April 27, 2022 but before the is-
suance of final regulations, the best way
to ensure that all estates will be subject to
the same rules is to make this proposed
exception to the special rule applicable to
the estates of decedents dying on or after
April 27, 2022.
Special Analyses
These proposed regulations are not
subject to review under section 6(b) of
Executive Order 12866 pursuant to the
Memorandum of Agreement (April 11,
2018) between the Treasury Department
and the Office of Management and Budget
regarding review of tax regulations.
Pursuant to the Regulatory Flexibility
Act (5 U.S.C. chapter 6), it is hereby cer-
tified that these proposed regulations will
not have a significant economic impact
on a substantial number of small entities.
These proposed regulations apply to do-
nors of gifts made after 2017 and to the
estates of donors dying after a reduction
in the BEA, and implement a change in
the amount that is excluded from estate
tax. Neither an individual nor the estate
of a deceased individual is a small enti-
ty within the meaning of 5 U.S.C. 601(6).
Accordingly, a regulatory flexibility anal-
ysis is not required.
Pursuant to section 7805(f) of the Code,
this regulation has been submitted to the
Chief Counsel for the Office of Advocacy
of the Small Business Administration for
comment on its impact on small business.
Comments and Request for a Public
Hearing
Before these proposed regulations are
adopted as final regulations, consideration
will be given to any written or electronic
comments that are submitted timely (in the
manner described under the ADDRESSES
heading) to the IRS. The Treasury Depart-
ment and the IRS request comments on all
aspects of the proposed regulations. Any
electronic comments submitted, and to the
extent practicable any paper comments
submitted, will be made available at https://
www.regulations.gov or upon request.
A public hearing will be scheduled if
requested in writing by any person who
timely submits electronic or written com-
ments. Requests for a hearing are strongly
encouraged to be submitted electronically.
If a public hearing is scheduled, notice of
the date and time for the public hearing
will be published in the Federal Regis-
ter. Announcement 2020-4, 2020-17 IRB
1, provides that until further notice, pub-
lic hearings conducted by the IRS will be
held telephonically. Any telephonic hear-
ing will be made accessible to people with
disabilities.
Statement of Availability of IRS
Documents
Rev. Rul. 84-25, 1984-1 C.B. 191, and
Announcement 2020-4, 2020-17 IRB
1, are published in the Internal Revenue
Bulletin (or Cumulative Bulletin) and
are available from the Superintendent of
Documents, U.S. Government Publishing
Office, Washington, DC 20402, or by vis-
iting the IRS website at https://www.irs.
gov.
Drafting Information
The principal author of these pro-
posed regulations is John D. MacEachen,
Office of the Associate Chief Counsel
(Passthroughs and Special Industries).
Other personnel from the Treasury De-
partment and the IRS participated in their
development.
List of Subjects in 26 CFR Part 20
Estate taxes, Reporting and record-
keeping requirements.

Bulletin No. 2022–20 1093 May 16, 2022
Proposed Amendments to the
Regulations
Accordingly, 26 CFR part 20 is pro-
posed to be amended as follows:
PART 20—ESTATE TAX; ESTATES
OF DECEDENTS DYING AFTER
AUGUST 16, 1954
Par. 1. The authority citation for part 20
continues to read in part as follows:
Authority: 26 U.S.C. 7805.
* * * * *
Section 20.2010-1 also issued under 26
U.S.C. 2001(g)(2) and 26 U.S.C. 2010(c)
(6).
* * * * *
Par. 2. Section 20.2010-1 is amended
by:
1. Adding paragraph (c)(3); and
2. Revising the first sentence of para-
graph (f)(2) and adding a sentence after
the second sentence.
The revision and additions read as
follows:
§20.2010-1 Unified credit against estate
tax; in general.
* * * * *
(c) * * *
(3) Exception to the special rule—(i)
Transfers to which the special rule does
not apply. Except as provided in para-
graph (c)(3)(ii) of this section, the spe-
cial rule of paragraph (c) of this section
does not apply to transfers includible in
the gross estate, or treated as includible
in the gross estate for purposes of section
2001(b), including without limitation the
following transfers:
(A) Transfers includible in the gross es-
tate pursuant to section 2035, 2036, 2037,
2038, or 2042, regardless of whether all
or any part of the transfer was deductible
pursuant to section 2522 or 2523;
(B) Transfers made by enforceable
promise to the extent they remain unsatis-
fied as of the date of death;
(C) Transfers described in §25.2701-
5(a)(4) or §25.2702-6(a)(1) of this chap-
ter; and
(D) Transfers that would have been de-
scribed in paragraph (c)(3)(i)(A), (B), or
(C) of this section but for the transfer, re-
linquishment, or elimination of an interest,
power, or property, effectuated within 18
months of the date of the decedent’s death
by the decedent alone, by the decedent in
conjunction with any other person, or by
any other person.
(ii) Transfers to which the special rule
continues to apply. Notwithstanding para-
graph (c)(3)(i) of this section, the special
rule of paragraph (c) of this section ap-
plies to the following transfers:
(A) Transfers includible in the gross es-
tate in which the value of the taxable por-
tion of the transfer, determined as of the
date of the transfer, was 5 percent or less
of the total value of the transfer; and
(B) Transfers, relinquishments, or
eliminations described in paragraph (c)
(3)(i)(D) of this section effectuated by the
termination of the durational period de-
scribed in the original instrument of trans-
fer by either the mere passage of time or
the death of any person.
(iii) Examples. In each example, the
basic exclusion amount on the date of the
gift was $11.4 million, the basic exclu-
sion amount on the date of death is $6.8
million, and both amounts include hypo-
thetical inflation adjustments. The donor’s
executor does not elect to use the alternate
valuation date and, unless otherwise stat-
ed, the donor never married and made no
other gifts during life.
(A) Example 1. Individual A made a completed
gift of A’s promissory note in the amount of $9 mil-
lion. The note remained unpaid as of the date of A’s
death. The assets that are to be used to satisfy the
note are part of A’s gross estate, with the result that
the note is treated as includible in the gross estate for
purposes of section 2001(b) and is not included in
A’s adjusted taxable gifts. Because the note is treated
as includible in the gross estate and does not qualify
for the 5 percent de minimis rule in paragraph (c)(3)
(ii)(A) of this section, the exception to the special
rule found in paragraph (c)(3) of this section applies
to the gift of the note. The credit to be applied for
purposes of computing A’s estate tax is based on the
$6.8 million basic exclusion amount as of A’s date
of death, subject to the limitation of section 2010(d).
The result would be the same if A or a person em-
powered to act on A’s behalf had paid the note within
the 18 months prior to the date of A’s death.
(B) Example 2. Assume that the facts are the
same as in paragraph (c)(3)(iii)(A) of this section
(Example 1) except that A’s promissory note had
a value of $2 million and, on the same date that A
made the gift of the promissory note, A also made
a gift of $9 million in cash. The cash gift was paid
immediately, whereas the $2 million note remained
unpaid as of the date of A’s death. The assets that are
to be used to satisfy the note are part of A’s gross
estate, with the result that the note is treated as in-
cludible in the gross estate for purposes of section
2001(b) and is not included in A’s adjusted taxable
gifts. Because the $2 million note is treated as inclu-
dible in the gross estate and does not qualify for the 5
percent de minimis rule in paragraph (c)(3)(ii)(A) of
this section, the exception to the special rule found in
paragraph (c)(3) of this section applies to the gift of
the note. On the other hand, the $9 million cash gift
was paid immediately, and no portion of that gift is
includible or treated as includible in the gross estate.
Because the amount allowable as a credit in comput-
ing the gift tax payable on A’s $9 million cash gift
exceeds the credit based on the $6.8 million basic
exclusion amount allowable on A’s date of death, the
special rule of paragraph (c) of this section applies
to that gift. The credit to be applied for purposes of
computing A’s estate tax is based on a basic exclu-
sion amount of $9 million, the amount used to deter-
mine the credit allowable in computing the gift tax
payable on A’s $9 million cash gift.
(C) Example 3. Assume that the facts are the
same as in paragraph (c)(3)(iii)(A) of this section
(Example 1) except that, prior to A’s gift of the note,
the executor of the estate of A’s predeceased spouse
elected, pursuant to §20.2010-2, to allow A to take
into account the predeceased spouse’s $2 million
DSUE amount. Assume further that A’s promisso-
ry note had a value of $2 million on the date of the
gift, and that A made a gift of $9 million in cash a
few days later. The cash gift was paid immediately,
whereas the $2 million note remained unpaid as of
the date of A’s death. The assets that are to be used
to satisfy the note are part of A’s gross estate, with
the result that the note is treated as includible in the
gross estate for purposes of section 2001(b) and is
not included in A’s adjusted taxable gifts. Because
A’s DSUE amount was sufficient to shield the gift
of the note from gift tax, no basic exclusion amount
was applicable to the $2 million gift pursuant to
paragraph (c)(1)(ii)(A) of this section and the special
rule of paragraph (c) of this section does not apply to
that gift. On the other hand, the $9 million cash gift
was paid immediately, and no portion of that gift is
includible or treated as includible in the gross estate.
Because the amount allowable as a credit in comput-
ing the gift tax payable on A’s $9 million cash gift
exceeds the credit based on the $6.8 million basic
exclusion amount allowable on A’s date of death, the
special rule of paragraph (c) of this section applies
to that gift. The credit to be applied for purposes of
computing A’s estate tax is based on A’s $11 million
applicable exclusion amount, consisting of the $2
million DSUE amount plus the $9 million amount
used to determine the credit allowable in computing
the gift tax payable on A’s $9 million cash gift.
(D) Example 4. Individual B transferred $9
million to a grantor retained annuity trust (GRAT),
retaining a qualified annuity interest within the
meaning of §25.2702-3(b) of this chapter valued at
$8,550,000. The taxable portion of the transfer val-
ued as of the date of the transfer was $450,000. B
died during the term of the GRAT. The entire GRAT
corpus is includible in the gross estate pursuant to
§20.2036-1(c)(2). Because the value of the taxable
portion of the transfer was 5 percent or less of the
total value of the transfer determined as of the date
of the gift, the 5 percent de minimis rule in paragraph
(c)(3)(ii)(A) of this section is met and the exception
to the special rule found in paragraph (c)(3) of this

May 16, 2022 1094 Bulletin No. 2022–20
section does not apply to the gift. However, because
the total of the amounts allowable as a credit in com-
puting the gift tax payable on B’s post-1976 gift of
$450,000 is less than the credit based on the $6.8
million basic exclusion amount allowable on B’s
date of death, the special rule of paragraph (c) of this
section does not apply to the gift. The credit to be
applied for purposes of computing B’s estate tax is
based on the $6.8 million basic exclusion amount as
of B’s date of death, subject to the limitation of sec-
tion 2010(d).
(E) Example 5. Assume that the facts are the
same as in paragraph (c)(3)(iii)(D) of this section
(Example 4) except that B’s qualified annuity inter-
est is valued at $8 million. The taxable portion of
the transfer valued as of the date of the transfer was
$1 million. Because the value of the taxable portion
of the transfer was more than 5 percent of the total
value of the transfer determined as of the date of the
gift, the 5 percent de minimis rule in paragraph (c)
(3)(ii)(A) of this section is not met and the exception
to the special rule found in paragraph (c)(3) of this
section applies to the gift. The credit to be applied for
purposes of computing B’s estate tax is based on the
$6.8 million basic exclusion amount as of B’s date
of death, subject to the limitation of section 2010(d).
(F) Example 6. Assume that the facts are the
same as in paragraph (c)(3)(iii)(D) of this section
(Example 4) except that B’s qualified annuity interest
is valued at $2 million. The taxable portion of the
transfer valued as of the date of the transfer was $7
million. B survived the term of the GRAT. Because
B survived the original unaltered term of the GRAT,
no part of the value of the assets transferred to the
GRAT is includible in B’s gross estate, and the ex-
ception to the special rule found in paragraph (c)(3)
of this section does not apply to the gift. Moreover,
because the amount allowable as a credit in comput-
ing the gift tax payable on B’s $7 million gift exceeds
the credit based on the $6.8 million basic exclusion
amount allowable on B’s date of death, the special
rule of paragraph (c) of this section applies to the
gift. The credit to be applied for purposes of com-
puting B’s estate tax is based on a basic exclusion
amount of $7 million, the amount used to determine
the credit allowable in computing the gift tax payable
on B’s transfer to the GRAT.
(G) Example 7. Individual C transferred $9 mil-
lion to a grantor retained income trust (GRIT), re-
taining an income interest valued at $0 pursuant to
section 2702(a)(2)(A). The taxable portion of the
transfer valued as of the date of the transfer was $9
million. C died during the term of the GRIT. The
entire GRIT corpus is includible in C’s gross estate
pursuant to section 2036(a)(1) because C retained
the right to receive all of the income of the GRIT.
Because the transferred assets are includible in the
gross estate and do not qualify for the 5 percent de
minimis rule in paragraph (c)(3)(ii)(A) of this sec-
tion, the exception to the special rule found in para-
graph (c)(3) of this section applies to the gift. The
credit to be applied for purposes of computing C’s
estate tax is based on the $6.8 million basic exclusion
amount as of C’s date of death, subject to the limita-
tion of section 2010(d).
* * * * *
(f) * * *
(2) Exceptions. Except as specifically
provided in this paragraph (f)(2), para-
graphs (c) and (e)(3) of this section apply
to estates of decedents dying on or after
November 26, 2019. * * * Paragraph (c)
(3) of this section is applicable to the es-
tates of decedents dying on or after April
27, 2022. * * *
Douglas W. O’Donnell,
Deputy Commissioner for Services
and Enforcement.
(Filed by the Office of the Federal Register on April
26, 2022, 8:45 a.m., and published in the issue of the
Federal Register for April 27, 2022, 87 F.R. 24918)

Bulletin No. 2022–20 i May 16, 2022
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
effect:
Amplified describes a situation where
no change is being made in a prior pub-
lished position, but the prior position is
being extended to apply to a variation of
the 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 with
modified, below).
Clarified is 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 rul-
ing is being changed.
Distinguished describes a situation
where a ruling mentions a previously pub-
lished ruling and points out an essential
difference between them.
Modified is 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
with amplified and clarified, above).
Obsoleted describes a previously pub-
lished ruling that is not considered deter-
minative with respect to future transactions.
This term is most commonly used in a ruling
that lists previously published rulings 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.
Revoked describes situations where the
position in the previously published ruling
is not correct and the correct position is
being stated in a new ruling.
Superseded describes a situation where
the new ruling does nothing more than
restate the substance and situation of a
previously published ruling (or rulings).
Thus, the term is used to republish under
the 1986 Code and regulations the same
position published under the 1939 Code
and regulations. The term is also used
when it is desired to republish in a single
ruling a series of situations, names, etc.,
that were previously published over a
period of time in separate rulings. If the
new ruling does more than restate the sub-
stance of a prior ruling, a combination of
terms is used. For example, modified and
superseded describes 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 previous-
ly published ruling in a new ruling that is
self contained. In this case, the previously
published ruling is first modified and then,
as modified, is superseded.
Supplemented is 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
ruling has been supplemented several
times, a new ruling may be published that
includes the list in the original ruling and
the additions, and supersedes all prior rul-
ings in the series.
Suspended is 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 cas-
es in litigation, or the outcome of a Ser-
vice study.
Abbreviations
The following abbreviations in current
use and formerly used will appear in
material published in the Bulletin.
A—Individual.
Acq.—Acquiescence.
B—Individual.
BE—Beneficiary.
BK—Bank.
B.T.A.—Board of Tax Appeals.
C—Individual.
C.B.—Cumulative Bulletin.
CFR—Code of Federal Regulations.
CI
—City.
COOP—Cooperative.
Ct.D.—Court Decision.
CY—County.
D—Decedent.
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—Employer.
ERISA—Employee Retirement Income Security Act.
EX—Executor.
F—Fiduciary.
FC—Foreign Country.
FICA—Federal Insurance Contributions Act.
FISC—Foreign International Sales Company.
FPH—Foreign Personal Holding Company.
F.R.—Federal Register.
FUTA—Federal Unemployment Tax Act.
FX—Foreign corporation.
G.C.M.—Chief Counsel’s Memorandum.
GE—Grantee.
GP—General Partner.
GR—Grantor.
IC—Insurance Company.
I.R.B.—Internal Revenue Bulletin.
LE—Lessee.
LP—Limited Partner.
LR—Lessor.
M—Minor.
Nonacq.—Nonacquiescence.
O—Organization.
P—Parent Corporation.
PHC—Personal Holding Company.
PO—Possession of the U.S.
PR—Partner.
PRS—Partnership.
PTE—Prohibited Transaction Exemption.
Pub. L.—Public Law.
REIT—Real Estate Investment Trust.
Rev. Proc.—Revenue Procedure.
Rev. Rul.—Revenue Ruling.
S—Subsidiary.
S.P.R.—Statement of Procedural Rules.
Stat.—Statutes at Large.
T—Target Corporation.
T.C.—Tax Court.
T.D.—Treasury Decision.
TFE—Transferee.
TFR—Transferor.
T.I.R.—Technical Information Release.
TP—Taxpayer.
TR—Trust.
TT—Trustee.
U.S.C.—United States Code.
X—Corporation.
Y—Corporation.
Z—Corporation.

May 16, 2022 ii Bulletin No. 2022–20
Numerical Finding List
1
Bulletin 2022–20
Announcements:
2022-3, 2022-8 I.R.B. 788
2022-4, 2022-9 I.R.B. 789
2022-5, 2022-11 I.R.B. 825
2022-6, 2022-13 I.R.B. 934
2022-7, 2022-15 I.R.B. 946
2022-8, 2022-19 I.R.B. 1056
AOD:
2022-1, 2022-06 I.R.B. 466
2022-2, 2022-12 I.R.B. 903
Notices:
2022-1, 2022-02 I.R.B. 304
2022-2, 2022-02 I.R.B. 304
2022-3, 2022-02 I.R.B. 308
2022-4, 2022-02 I.R.B. 309
2022-5, 2022-05 I.R.B. 457
2022-6, 2022-05 I.R.B. 460
2022-7, 2022-06 I.R.B. 469
2022-8, 2022-07 I.R.B. 491
2022-9, 2022-10 I.R.B. 811
2022-10, 2022-10 I.R.B. 815
2022-12, 2022-12 I.R.B. 906
2022-11, 2022-14 I.R.B. 939
2022-13, 2022-14 I.R.B. 940
2022-14, 2022-14 I.R.B. 941
2022-15, 2022-18 I.R.B. 1043
2022-16, 2022-18 I.R.B. 1044
2022-17, 2022-18 I.R.B. 1048
2022-18, 2022-18 I.R.B. 1048
2022-19, 2022-18 I.R.B. 1050
2022-21, 2022-20 I.R.B. 1057
2022-22, 2022-20 I.R.B. 1057
2022-23, 2022-20 I.R.B. 1062
Proposed Regulations:
REG-118250-20, 2022-07 I.R.B. 753
REG-105954-20, 2022-11 I.R.B. 828
REG-114209-21, 2022-11 I.R.B. 898
REG-114209-21, 2022-11 I.R.B. 898
REG-121508-18, 2022-15 I.R.B. 996
REG-114339-21, 2022-17 I.R.B. 1030
REG-106384-20, 2022-20 I.R.B. 1076
REG-118913-21, 2022-20 I.R.B. 1089
Revenue Procedures:
2022-1, 2022-01 I.R.B. 1
2022-2, 2022-01 I.R.B. 120
2022-3, 2022-01 I.R.B. 144
2022-4, 2022-01 I.R.B. 161
2022-5, 2022-01 I.R.B. 256
Revenue Procedures:—Continued
2022-7, 2022-01 I.R.B. 297
2022-9, 2022-02 I.R.B. 310
2022-11, 2022-03 I.R.B. 449
2022-8, 2022-04 I.R.B. 451
2022-10, 2022-06 I.R.B. 473
2022-13, 2022-06 I.R.B. 477
2022-12, 2022-07 I.R.B. 494
2022-14, 2022-07 I.R.B. 502
2022-15, 2022-13 I.R.B. 908
2022-17, 2022-13 I.R.B. 930
2022-17, 2022-13 I.R.B. 933
2022-20, 2022-14 I.R.B. 945
2022-21, 2022-16 I.R.B. 1015
2022-23, 2022-18 I.R.B. 1052
2022-24, 2022-20 I.R.B. 1075
Revenue Rulings:
2022-1, 2022-02 I.R.B. 301
2022-2, 2022-04 I.R.B. 451
2022-3, 2022-06 I.R.B. 467
2022-4, 2022-10 I.R.B. 790
2022-5, 2022-10 I.R.B. 792
2022-6, 2022-12 I.R.B. 904
2022-7, 2022-14 I.R.B. 935
2022-8, 2022-14 I.R.B. 936
2022-9, 2022-18 I.R.B. 1041
Treasury Decisions:
9959, 2022-03 I.R.B. 328
9961, 2022-03 I.R.B. 430
9960, 2022-07 I.R.B. 481
9962, 2022-11 I.R.B. 823
1
A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2020–27 through 2020–52 is in Internal Revenue Bulletin
2020–52, dated December 27, 2021.

Bulletin No. 2022–20 iii May 16, 2022
Finding List of Current Actions on
Previously Published Items
1
Bulletin 2022–20
1
A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2020–27 through 2020–52 is in Internal Revenue Bulletin
2020–52, dated December 27, 2021.

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