SECTION 3. MODIFICATION TO REV.

PROC. 2011–14

Revenue Procedure 2011–14 is modified to add new section 11.08 of the APPENDIX to read as follows:

.08 Change to not apply § 263A to one or more plants removed from the list of plants that have a preproductive period in excess of 2 years.

(1) Description of change . This change applies to a taxpayer that is not a corporation, partnership, or tax shelter required to use an accrual method of accounting under § 447 or § 448(a)(3), and either (a) wishes to obtain the consent of the Commissioner to not apply § 263A, pursuant to § 263A(d)(1) and § 1.263A–4(a)(2), to the production of one or more plants that the Service and the Treasury Department have removed from the list of plants that have

No. 313, 99th Cong., 2d Sess. 968 (1986), 1986–3 C.B. Vol. 3 968.

SCOPE AND APPLICATION

For purposes of applying the limitation set forth in the statutory reserve cap in § 807(d)(1), deficiency reserves are included in the amount taken into account with respect to a life insurance contract in determining statutory reserves under § 807(d)(6).

DRAFTING INFORMATION

The principal author of this notice is Sharon Y. Horn of the Office of Associate Chief Counsel (Financial Institutions & Products). For further information, contact Ms. Horn at (202) 622–3970 (not a toll-free call).

26 CFR 601.204: Changes in accounting periods and methods of accounting (Also Part I, §§ 263A, 446, 481; 1.263A–4, 1.446–1.)

Rev. Proc. 2013–20