Method of Accounting for Gains and Losses on Shares in Money Market Funds; Broker Returns With Respect to Sales of Shares in Money Market Funds; Correction

---
identifier: "/us/fr/2016-22950"
source: "fr"
legal_status: "authoritative_unofficial"
title: "Method of Accounting for Gains and Losses on Shares in Money Market Funds; Broker Returns With Respect to Sales of Shares in Money Market Funds; Correction"
title_number: 0
title_name: "Federal Register"
section_number: "2016-22950"
section_name: "Method of Accounting for Gains and Losses on Shares in Money Market Funds; Broker Returns With Respect to Sales of Shares in Money Market Funds; Correction"
positive_law: false
currency: "2016-09-23"
last_updated: "2016-09-23"
format_version: "1.1.0"
generator: "[email protected]"
agency: "Treasury Department"
document_number: "2016-22950"
document_type: "rule"
publication_date: "2016-09-23"
agencies:
  - "Treasury Department"
  - "Internal Revenue Service"
cfr_references:
  - "26 CFR Part 1"
rin: "1545-BM04"
fr_citation: "81 FR 65541"
fr_volume: 81
docket_ids:
  - "TD 9774"
effective_date: "2016-09-23"
fr_action: "Final regulations; correction."
---


#  Method of Accounting for Gains and Losses on Shares in Money Market Funds; Broker Returns With Respect to Sales of Shares in Money Market Funds; Correction

**AGENCY:**

Internal Revenue Service (IRS), Treasury.

**ACTION:**

Final regulations; correction.

**SUMMARY:**

This document contains a correction to final regulations (TD 9774) that were published in the *Federal Register* on July 8, 2016 (81 FR 44508). The final regulations provide a simplified method of accounting for gains and losses on shares in money market funds (MMFs). The final regulations also provide guidance regarding information reporting requirements for shares in MMFs.

**DATES:**

This correction is effective on September 23, 2016 and applicable on July 8, 2016.

**FOR FURTHER INFORMATION CONTACT:**

Grace Cho at (202) 317-6895 (not a toll free number).

**SUPPLEMENTARY INFORMATION:**

**Background**

The final regulations (TD 9774) that are the subject of this correction are under sections 446, and 6045 of the Internal Revenue Code.

**Need for Correction**

As published, the final regulations (TD 9774) contains an error that may prove to be misleading and is in need of clarification.

**Correction of Publication**

Accordingly, the final regulations (TD 9774), that are the subject of FR Doc. 2016-16149, is corrected as follows:

1. On page 44512, in the preamble, the first column, under the heading “ *7. Accounting Method Changes* ”, the ninth line of the second full paragraph, the language “Proc. 2016-39 (2016-30 IRB), which” is corrected to read “Proc. 2016-39 (2016-30 IRB 164), which”.

Martin V. Franks,

Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).