IRS Seeks Input on REMIC Expense Allocation Rules
Published Date: 3/26/2025
Notice
Summary
The IRS wants your thoughts on rules about how Real Estate Mortgage Investment Conduits (REMICs) share expense info. If you’re involved with REMICs, this could affect how you report and handle paperwork, aiming to make things clearer and less of a hassle. Comments are open until May 27, 2025, so don’t miss your chance to weigh in!
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
REMIC expense information collection continues
If you operate or work for a Real Estate Mortgage Investment Conduit (REMIC) or other for‑profit business affected by these rules, the IRS is continuing an existing information collection (OMB Control No. 1545-1018; Regulation Project TD 8266 and 8431) with no change. The notice lists an estimated 9,725 responses, an estimated 6,978 minutes per respondent, and an estimated total annual burden of 978 hours; written comments are due by May 27, 2025.
Rules require REMICs and brokers to share expense data
The notice restates that Treasury Regulations require single‑class REMICs to provide certain Internal Revenue Code section 67 information to holders (per Treas. Reg. §1.67-3(f)(4)(ii)), require REMICs to provide certain information to brokers and middlemen who request it (per Treas. Reg. §1.6049-7(e)), and require brokers and middlemen to furnish information to corporations, non-calendar-year taxpayers, and other specified persons (per Treas. Reg. §1.6049-7(f)(7)).
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