Section 483.—Interest on Certain Deferred Payments

The adjusted applicable federal short-term, midterm, and long-term rates are set forth for the month of March 2004. See Rev. Rul. 2004-25, page 587.

2004-11 I.R.B. 587 March 15, 2004

Table 5 contains the federal rate for determining the present value of annuity, an interest for life or for a term of years, or a remainder or a reversionary interest for purposes of section 7520.

adjusted applicable federal rates (adjusted AFR) for the current month for purposes of section 1288(b). Table 3 sets forth the adjusted federal long-term rate and the long-term tax-exempt rate described in

section 382(f). Table 4 contains the appropriate percentages for determining the low-income housing credit described in section 42(b)(2) for buildings placed in service during the current month. Finally,

REV. RUL. 2004–25 TABLE 1

Applicable Federal Rates (AFR) for March 2004

Period for Compounding

Annual Semiannual Quarterly Monthly

Short-Term

AFR 1.58% 1.57% 1.57% 1.56% 110% AFR 1.74% 1.73% 1.73% 1.72% 120% AFR 1.89% 1.88% 1.88% 1.87% 130% AFR 2.05% 2.04% 2.03% 2.03%

Mid-Term

AFR 3.34% 3.31% 3.30% 3.29% 110% AFR 3.67% 3.64% 3.62% 3.61% 120% AFR 4.01% 3.97% 3.95% 3.94% 130% AFR 4.35% 4.30% 4.28% 4.26% 150% AFR 5.03% 4.97% 4.94% 4.92% 175% AFR 5.87% 5.79% 5.75% 5.72%

Long-Term

AFR 4.84% 4.78% 4.75% 4.73% 110% AFR 5.33% 5.26% 5.23% 5.20% 120% AFR 5.82% 5.74% 5.70% 5.67% 130% AFR 6.31% 6.21% 6.16% 6.13%

REV. RUL. 2004–25 TABLE 2

Rates Under Section 382 for March 2004

Period for Compounding

Annual Semiannual Quarterly Monthly

Short-term adjusted AFR

1.30% 1.30% 1.30% 1.30%

Mid-term adjusted AFR 2.47% 2.45% 2.44% 2.44%

Long-term adjusted AFR

4.19% 4.15% 4.13% 4.11%

March 15, 2004 588 2004-11 I.R.B.

REV. RUL. 2004–25 TABLE 3

Rates Under Section 382 for March 2004

Adjusted federal long-term rate for the current month 4.19%

Long-term tax-exempt rate for ownership changes during the current month (the highest of the adjusted federal long-term rates for the current month and the prior two months.) 4.40%

REV. RUL. 2004–25 TABLE 4

Appropriate Percentages Under Section 42(b)(2) for March 2004

Appropriate percentage for the 70% present value low-income housing credit 7.95%

Appropriate percentage for the 30% present value low-income housing credit 3.41%

REV. RUL. 2004–25 TABLE 5

Rate Under Section 7520 for March 2004

Applicable federal rate for determining the present value of an annuity, an interest for life or a term of years, or a remainder or reversionary interest 4.0%

final regulations affect businesses, other for-profit institutions, and eligible educational institutions that wish to furnish these required statements electronically. The regulations will also affect individuals (recipients), principally employees, students, and borrowers, who consent to receive these statements electronically.

DATES: Effective Date : These regulations are effective February 18, 2004.

Applicability Date : These regulations apply to statements and reports required to be furnished after February 13, 2004. The rules relating to maintenance of access to website statements also apply to statements and reports required to be furnished after December 31, 2003.

FOR FURTHER INFORMATION CONTACT: Michael E. Hara at (202) 622–4910 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Paperwork Reduction Act

The collection of information contained in these final regulations has been reviewed and approved by the Office of Management and Budget in accordance with the Paperwork Reduction Act (44 U.S.C. 3507) under control number 1545–1729. Responses to this collection