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

Section 446.—General Rule for Methods of Accounting

26 CFR 1.446–1: General rule for methods of ac- counting.

A revenue ruling holds that Dubai Mercantile Exchange, which is a United Arab Emirates Authorized Market Institution, is a qualified board or exchange within the meaning of section 1256(g)(7)(C) of the Code. See Rev. Rul. 2009-4, page 408.

Section 481.—Adjustments Required by Changes in Method of Accounting

A revenue ruling holds that Dubai Mercantile Exchange, which is a United Arab Emirates Authorized Market Institution, is a qualified board or exchange within the meaning of section 1256(g)(7)(C) of the Code. See Rev. Rul. 2009-4, page 408.

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 2008 and 2009. Rev. Rul. 92–19 supplemented. Rev. Rul. 2008–19 modified.

Rev. Rul. 2009–3

For purposes of § 807(d)(4) of the Internal Revenue Code, for taxable years beginning after December 31, 2007, 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 2008 and 2009, and a supplement to the table in Part IV of Rev. Rul. 92–19, providing the applicable federal interest rates under § 807(d) for 2008 and 2009. This ruling does not supplement Parts I and II of Rev. Rul. 92–19.

This is the seventeenth 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); Rev. Rul. 95–4, 1995–1 C.B. 141 (1994 and 1995); Rev. Rul. 96–2, 1996–1 C.B. 141 (1995 and 1996); Rev. Rul. 97–2, 1997–1 C.B. 134 (1996 and 1997); Rev. Rul. 98–2, 1998–1 C.B. 259 (1997 and 1998); Rev. Rul. 99–10, 1999–1 C.B. 671 (1998 and 1999); Rev. Rul. 2000–17, 2000–1 C.B. 842 (1999 and 2000); Rev. Rul. 2001–11, 2001–1 C.B. 780 (2000 and 2001); Rev. Rul. 2002–12, 2002–1 C.B. 624 (2001 and 2002); Rev. Rul. 2003–24, 2003–1 C.B. 557 (2002 and 2003); Rev. Rul. 2004–14, 2004–1 C.B. 511 (2003 and 2004); Rev. Rul. 2005–29, 2005–1 C.B. 1080 (2004 and 2005); Rev. Rul. 2006–25, 2006–1 C.B. 882 (May 15, 2006) (2005 and 2006); Rev. Rul. 2007–10, 2007–1 C.B. 660 (Mar. 5, 2007) (2006 and 2007); and Rev. Rul. 2008–19, 2008–13 I.R.B. 669 (Mar. 31, 2008) (2007 and 2008).

2009–5 I.R.B. 382 February 2, 2009