The most significant targeted regulations are as follows:
- Temporary Regulations under Section 337(d) on Certain Transfers of Property to Regulated Investment Companies (RICs) and Real Estate Investment Trusts (REITs)
- Proposed Regulations under Section 2704 on Restrictions on Liquidation of an Interest for Estate, Gift and Generation-Skipping Transfer Taxes
- Temporary Regulations under Section 752 on Liabilities Recognized as Recourse Partnership Liabilities
- Final and Temporary Regulations under Section 385 on the Treatment of Certain Interests in Corporations as Stock or Indebtedness
- Final Regulations under Section 987 on Income and Currency Gain or Loss with Respect to a Section 987 Qualified Business Unit
- Final Regulations under Section 367 on the Treatment of Certain Transfers of Property to Foreign Corporations
This list notably does not include regulations under Section 7874 pertaining to inversion transactions. The Notice also does not provide guidance as to how the regulations will be curtailed, but merely cites to the concerns of commenters, and requests comments on the targeted regulations by August 7, 2017. As additional details become available, we will update accordingly.