ADMINISTRATIVE

Notice 2001–43, page 72. This notice provides transitional relief and guidance to certain U.S. withholding agents making payments to nonqualified intermediaries (NQIs) and foreign trusts for implementing the new withholding regulations under section 1441 of the Code. These regulations, which were published as T.D. 8734 (1997–2 C.B. 109) and T.D. 8881 (2000–23 I.R.B. 1158), apply to payments made after December 31, 2000. Announcement 2000–48 modified. Notice 2001–4 modified.

Notice 2001–44, page 77. Notional principal contract (NPC). The IRS and the Treasury Department are soliciting comments on the appropriate method for including in income or deducting contingent nonperiodic payments made pursuant to a notional principal contract and the treatment of such inclusions or deductions.