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Treasury Issues Proposed Regulations Permitting RIC Pass-Through of Qualified REIT Dividends, Reserves on Qualified PTP Income

On January 18, 2019, the Treasury Department and IRS issued proposed regulations (the “Proposed Regulations”) that generally permit regulated investment companies (“RICs”) to pass through to their non-corporate shareholders qualified REIT dividends eligible for the 20% deduction under Section 199A of the Internal Revenue Code of 1986, as amended (the “Code”). Taxpayers are entitled to rely on the portion of the Proposed Regulations permitting this “conduit treatment” for qualified REIT dividends immediately. The Proposed Regulations reserve on extending conduit treatment to qualified publicly traded partnership (PTP) income, citing as-yet-unaddressed complexities associated therewith, and solicit comments on whether and how future regulations could accommodate the extension of conduit treatment to qualified PTP income earned through RICs. Continue

Ropes & Gray attorneys regularly provide insightful perspective on key legal issues.To read more, visit our Alerts archive.


Independent Investigation 

Ropes & Gray conducted an independent investigation into the abuse of hundreds of elite and Olympic gymnasts and other children by Larry Nassar. To read the report and for more information, please visit nassarinvestigation.com.

Treasury Issues Proposed Regulations Permitting RIC Pass-Through of Qualified REIT Dividends, Reserves on Qualified PTP Income

On January 18, 2019, the Treasury Department and IRS issued proposed regulations (the “Proposed Regulations”) that generally permit regulated investment companies (“RICs”) to pass through to their non-corporate shareholders qualified REIT dividends eligible for the 20% deduction under Section 199A of the Internal Revenue Code of 1986, as amended (the “Code”). Taxpayers are entitled to rely on the portion of the Proposed Regulations permitting this “conduit treatment” for qualified REIT dividends immediately. The Proposed Regulations reserve on extending conduit treatment to qualified publicly traded partnership (PTP) income, citing as-yet-unaddressed complexities associated therewith, and solicit comments on whether and how future regulations could accommodate the extension of conduit treatment to qualified PTP income earned through RICs. Continue

Ropes & Gray attorneys regularly provide insightful perspective on key legal issues.To read more, visit our Alerts archive.


Independent Investigation 

Ropes & Gray conducted an independent investigation into the abuse of hundreds of elite and Olympic gymnasts and other children by Larry Nassar. To read the report and for more information, please visit nassarinvestigation.com.

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