# [Corrected]
**AGENCY:**
Internal Revenue Service (IRS), Treasury.
**ACTION:**
Correction to final regulations.
**SUMMARY:**
This document contains corrections to final regulations that were published in the *Federal Register* on Wednesday, September 17, 2003 (68 FR 54336), relating to the income, employment, and gift taxation of split-dollar life insurance arrangements.
**DATES:**
These corrections are effective September 17, 2003.
**FOR FURTHER INFORMATION CONTACT:**
Rebecca Asta at (202) 622-3930 (not a toll-free number).
**SUPPLEMENTARY INFORMATION:**
**Background**
The final regulations that are the subject of these corrections are under sections 61, 83, 301, and 7872 of the Internal Revenue Code.
**Need for Correction**
As published, final regulations (TD 9092) contains errors that may prove to be misleading and are in need of clarification.
**Correction of Publication**
**26 CFR Part 1**
Accordingly, the publication of final regulations (TD 9092), that was the subject of FR Doc. 03-23596, is corrected as follows:
1. On page 54344, column 1, in the preamble, under the paragraph heading “Effective Date and Obsolescence of Prior Guidance”, second paragraph, line 13, the language “arrangement does not fall with the” is corrected to read “arrangement does not fall within the”.
**26 CFR Part 1**
2. On page 54344, column 2, in the preamble, the paragraph heading “Proposed Amendments to the Regulations” is corrected to read “Adoption of Amendments to the Regulations'.
§ 1.61-22
**26 CFR Part 1**
3. On page 54347, column 1, § 1.61-22(d)(3)(i), last line of the column, the language, “owner under paragraph (d)(1) for the” is corrected to read “owner under paragraph (d)(1) of this section for the”.
**26 CFR Part 1**
4. On page 54347, column 2, § 1.61-22(d)(4)(ii)(A), last line of the paragraph, the language, “right and;” is corrected to read “right; and”.
**26 CFR Part 1**
5. On page 54347, column 2, § 1.61-22(d)(5)(ii), line 2, the language, “owner and non-owner of the split-dollar” is corrected to read “owner and non-owner of the split-dollar life insurance”.
**26 CFR Part 1**
6. On page 54350, column 2, § 1.61-22(h), *Example 1.* , paragraph (ii), line 6, the language, “whether of R were designated as the policy” is corrected to read “whether R were designated as the policy”.
**26 CFR Part 1**
7. On page 54351, column 1, § 1.61-22(h), *Example 4.* , paragraph (ii), line 3, the language, “the arrangement during in each such year.” is corrected to read “the arrangement in each such year.”
Cynthia E. Grigsby,
Acting Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).