# Guidance Regarding the Treatment of Certain Contingent Payment Debt Instruments With One or More Payments That Are Denominated in, or Determined by Reference to, a Nonfunctional Currency; Correction
**AGENCY:**
Internal Revenue Service (IRS), Treasury.
**ACTION:**
Correction to notice of proposed rulemaking; notice of public hearing; and withdrawal of previous proposed regulations section.
**SUMMARY:**
This document contains corrections to proposed regulations (Reg-106486-98; INTL-0015-91) that were published in the *Federal Register* on August 29, 2003 (68 FR 51944) regarding the treatment of contingent payment debt instruments for which one or more payments are denominated in, or determined by reference to, a currency other than the taxpayer's functional currency.
**FOR FURTHER INFORMATION CONTACT:**
Milton Cahn at (202) 622-3860 (not a toll free number).
**SUPPLEMENTARY INFORMATION:**
**Background**
The proposed regulations that are the subject of these corrections are under Section 1275 of the Internal Revenue Code.
**Need for Correction**
As published, the notice of proposed rulemaking; notice of public hearing; and withdrawal of previous proposed regulations (REG-106486-98; INTL-0015-91), contains errors that may prove to be misleading and are in need of clarification.
**Correction of Publication**
Accordingly, the publication of the notice of proposed rulemaking, notice of public hearing; and withdrawal of previous proposed regulations (REG-106486-98; INTL-0015-91), which was the subject of FR Doc. 03-21827, is corrected as follows:
On page 51944, column 2, in the preamble under the subject heading *FOR FURTHER INFORMATION CONTACT* , line 2, the language “Milton Cahn at (202) 622-3870;” is corrected to read “Milton Cahn at (202) 622-3860;”.
Cynthia E. Grigsby,
Acting Chief, Publication and Regulations Branch, Legal Processing Division, Associate Chief Counsel, (Procedure and Administration).