ADMINISTRATIVE

Rev. Proc. 2001–57, page 577. This procedure provides guidance to a publicly offered regulated investment company (RIC) that contributes substantially all its assets to an investment partnership in a master-feeder structure. A RIC meeting the requirements of this procedure is treated as if it directly invested in the assets held by the partnership for purposes of qualifying as a RIC, for purposes of the payment of exempt-interest dividends, and for purposes of the passthrough of the foreign tax credit.

Rev. Proc. 2001–58, page 579. This procedure provides guidance with respect to the failure-todeposit penalty provisions of section 6656 of the Code. The procedure also describes how the Service will credit Federal tax deposits to determine whether a failure-to-deposit penalty should apply to deposit periods beginning after December 31, 2001. Rev. Procs. 90–58 and 91–52 obsoleted.

Announcement 2001–121, page 584. This document withdraws proposed regulations (REG– 106186–98, 2000–23 I.R.B. 1226) relating to certain corporate reorganizations involving disregarded entities.

December 10, 2001 2001–50 I.R.B.