Payout Requirements for Type III Supporting Organizations That Are Not Functionally Integrated; Correction

Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Department of the Treasury Internal Revenue Service 26 CFR Part 1 [REG-155929-06] RIN 1545-BG31 AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Correction to advance notice of proposed rulemaking. SUMMARY: This document contains corrections to advance notice of proposed rulemaking (REG-155929-06) that was published in the Federal Register on Thursday, August 2, 2007 ( 72 FR 42335 ) regarding the payout requirements for Type III supporting organizations that are not functionally integrated, the criteria for determining whether a Type III supporting organization is functionally integrated, the modified requirements for Type III supporting organizations that are organized as trusts, and the requirements regarding the type of information a Type III supporting organization must provide to its supported organization(s) to demonstrate that it is responsive to its supported organization(s). FOR FURTHER INFORMATION CONTACT: Philip T. Hackney or Michael B. Blumenfeld at (202) 622-6070 (not a toll-free number). SUPPLEMENTARY INFORMATION: Background The correction notice that is the subject of this document is under sections 501(c)(3) and 509(a)(3) of the Internal Revenue Code. Need for Correction As published, the advance notice of proposed rulemaking (REG-155929-06) contains errors that may prove to be misleading and are in need of clarification. Correction of Publication Accordingly, the publication of advance notice of proposed rulemaking (REG-155929-06), which was the subj…