IRS Issues Final Rule for Income Treatment, Reporting of Non-Economic REMIC Residuals
May 14, 2004
The Internal Revenue Service has adopted a final rule establishing the timing and methods for reporting fees received as an inducement to become the holder of non-economic residual interests in a REMIC. The agency made no substantive changes to a proposed rule published in July 2003 that elicited no public comments. The regulation provides guidance for transferring non-economic REMIC residuals, and how taxpayers