Bulletin No. 1997–17 April 28, 1997

charitable remainder unitrusts under section 664. Rev. Proc. 97–3 is amplified.

Rev. Proc. 97–25, page 8. Electronic and magnetic media filing specifications. Specifications are set forth for the magnetic or electronic filing of 1997 Form 8851, Summary of Medical Savings Accounts, Magnetically/Electronically. The form may be filed with the Internal Revenue Service using ½ inch magnetic tape; IBM 3480/3490 or AS400 compatible tape cartridge; asynchronous electronic filing (IRP– BBS); or 5¼-, 3½-inch diskettes.

Rev. Proc. 97–26, page 17. Qualified mortgage bonds; mortgage credit certifi- cates; national median gross income. Guidance is provided concerning the use of the national and area median gross income figures by issuers of qualified mortgage bonds and mortgage credit certificates in determining the housing cost/income ratio described in section 143(f)(5) of the Code. Except as provided in section 5.02 of this procedure, Rev. Proc. 96–37 is obsolete.

Notice 97–26, page 6. Timely filing or payment; private delivery services. A list of designated private delivery services is provided for purposes of the ‘‘timely filing/paying’’ rules of section 7502 of the Code.

Announcement 97–42, page 19. Examination guidelines for Simplified Employee Plans (SEPs) have been developed for use during examinations. The guidelines are being released to the public for comments.

Announcement 97–43, page 19. T.D. 8697, 1997–2 I.R.B. 11, relating to the classification of business organizations, is corrected.