Part I. Rulings and Decisions Under the Internal Revenue Code of 1986

the transfer, are obsolete effective December 14, 1995. See Rev. Rul. 96–3, page 14.

Section 807.—Rules for Certain Reserves

Insurance companies; interest rate tables. Prevailing state assumed interest rates are provided for the determination of reserves under section 807 of the Code for contracts issued in 1995 and 1996. Rev. Rul. 92–19 supplemented in part.

Rev. Rul. 96–2

For purposes of § 807(d)(4) of the Internal Revenue Code, for taxable years beginning after December 31, 1994, this ruling supplements the schedules of prevailing state assumed interest rates set forth in Rev. Rul. 92– 19, 1992–1 C.B. 227. This information is to be used by insurance companies in computing their reserves for (1) life insurance and supplementary total and permanent disability benefits, (2) individual annuities and pure endowments, and (3) group annuities and pure endowments. As § 807(d)(2)(B) requires that the interest rate used to compute these reserves be the greater of (1) the applicable federal interest rate, or (2) the prevailing state assumed interest rate, the table of applicable federal interest rates in Rev. Rul. 92– 19 is also supplemented. Following are supplements to schedules A, B, C, and D to Part III of Rev. Rul. 92–19, providing prevailing state assumed interest rates for insurance products with different features issued in 1995 and 1996, and a supplement to the table in Part IV of Rev. Rul. 92–19, providing the applicable federal interest rate under § 807(d) for 1995 and 1996. This ruling does not supplement Parts I and II of Rev. Rul. 92–19.

This is the fourth supplement to the interest rates provided in Rev. Rul. 92– 19. Earlier supplements were published in Rev. Rul. 93–58, 1993–2 C.B. 241 (interest rates for insurance products issued in 1992 and 1993), Rev. Rul. 94–11, 1994–1 C.B. 196 (1993 and 1994), and Rev. Rul. 95–4, 1995–1 C.B. 141 (1994 and 1995).

Section 42.—Low-Income Housing Credit

The adjusted applicable federal short-term, mid-term, and long-term rates are set forth for the month of January 1996. See Rev. Rul. 96–6, page 8.

Section 170.—Charitable, etc., contributions and gifts

26 CFR 1.170A–1: Charitable, etc., contributions and gifts; allowance of deduction.

Rev. Rul. 80–80, 1980–1 C.B. 194, and Rev. Rul. 66–307, 1966–2 C.B. 429, which hold that the valuation tables in the regulations for valuing annuities, interests for life or a term of years, and remainder or reversionary interests are not to be used if the individual, who is the measuring life, is known to be terminally ill at the time of the transfer, are obsolete effective December 14, 1995. See Rev. Rul. 96–3, page 14.

26 CFR 1.170A–6: Charitable contributions in trust.

Rev. Rul. 80–80, 1980–1 C.B. 194, and Rev. Rul. 66–307, 1966–2 C.B. 429, which holds that the valuation tables in the regulations for valuing annuities, interests for life or a term of years, and remainder or reversionary interests are not to be used if the individual, who is the measuring life, is known to be terminally ill at the time of the transfer, are obsolete effective December 14, 1995. See Rev. Rul. 96–3, page 14.

Section 280G.—Golden Parachute Payments

Federal short-term, mid-term, and long-term rates are set forth for the month of January 1996. See Rev. Rul. 96–6, page 8.

Section 382.—Limitation on Net Operating Loss Carryforwards and Certain Built-In Losses Following Ownership Change

The adjusted federal long-term rate is set forth for the month of January 1996. See Rev. Rul. 96–6, page 8.

Section 412.—Minimum Funding Standards

The adjusted applicable federal short-term,

mid-term, and long-term rates are set forth for the month of January 1996. See Rev. Rul. 96–6, page 8.

Section 467.—Certain Payments for the Use of Property or Services

The adjusted applicable federal short-term, mid-term, and long-term rates are set forth for the month of January 1996. See Rev. Rul. 96–6, page 8.

Section 468.—Special Rules for Mining and Solid Waste Reclamation and Closing Costs

The adjusted applicable federal short-term, mid-term, and long-term rates are set forth for the month of January 1996. See Rev. Rul. 96–6, page 8.

Section 483.—Interest on Certain Deferred Payments

The adjusted applicable federal short-term, mid-term, and long-term rates are set forth for the month of January 1996. See Rev. Rul. 96–6, page 8.

Section 642.—Special rules for credits and deductions

26 CFR 1.642(c)–6: Valuation of a remainder interest in property transferred to a pooled income fund after April 30, 1989.

Rev. Rul. 80–80, 1980–1 C.B. 194, and Rev. Rul. 66–307, 1966–2 C.B. 429, which hold that the valuation tables in the regulations for valuing annuities, interests for life or a term of years, and remainder or reversionary interests are not to be used if the individual, who is the measuring life, is known to be terminally ill at the time of the transfer, are obsolete effective December 14, 1995. See Rev. Rul. 96–3, page 14.

Section 664.—Charitable remainder trusts

26 CFR 1.664–1: Charitable remainder trusts.

Rev. Rul. 80–80, 1980–1 C.B. 194, and Rev. Rul. 66–307, 1966–2 C.B. 429, which hold that the valuation tables in the regulations for valuing annuities, interests for life or a term of years, and remainder or reversionary interests are not to be used if the individual, who is the measuring life, is known to be terminally ill at the time of

5