# Guidance Under Section 355 Concerning Device and Active Trade or Business; Partial Withdrawal

**Action Urgency Score:** 20/100

| Field | Value |
|---|---|
| Agency | Treasury Department; Internal Revenue Service |
| Type | Proposed rule |
| Action | Partial withdrawal of notice of proposed rulemaking. |
| Published | 2026-10-21 |
| Significant | No |
| CFR parts | 26 CFR 1 |
| Summary | This document partially withdraws a notice of proposed rulemaking containing proposed regulations regarding the application of the device prohibition and the active trade or business requirement for distributions of controlled corporation stock (or stock and securities) by a distributing corporation without income, gain, or loss. The proposed regulations would affect corporations and their shareholders and security holders. |
| Document number | 2026-21568 |

## Why this score


Source: Federal Register API (Office of the Federal Register) (https://www.federalregister.gov/documents/2026/10/21/2026-21568/guidance-under-section-355-concerning-device-and-active-trade-or-business-partial-withdrawal). Last refreshed: 2026-11-04T09:17:43.641Z.
Data from the Federal Register API; the published Federal Register document is authoritative. Informational only, not legal advice.