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Federal Register / Vol. 86, No. 148 / Thursday, August 5, 2021 / Rules and Regulations
property under the proposed regulations or the final regulations except as provided in section 1.1400Z2d 1d3viD..
Oluwafunmilayo P. Taylor, Federal Register Liaison, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel Procedure and Administration.
FR Doc. 202116664 Filed 8421; 8:45 am
Correction of Publication Accordingly, 26 CFR part 1 is corrected by making the following correcting amendments:
PART 1INCOME TAXES
Paragraph 1. The authority citation for part 1 continues to read in part as follows:

Authority: 26 U.S.C. 7805

BILLING CODE 483001P

Par. 2. Section 1.1400Z2d1 is amended by revising paragraphs a3
and d3viD to read as follows:

DEPARTMENT OF THE TREASURY
Internal Revenue Service
1.1400Z2d1 Qualified opportunity funds and qualified opportunity zone businesses.

26 CFR Part 1

TD 9889
RIN 1545BO4

Investing in Qualified Opportunity Funds; Correcting Amendment Internal Revenue Service IRS, Treasury.
ACTION: Correcting amendments.
AGENCY:

This document contains corrections to Treasury Decision 9889, which was published in the Federal Register on Monday, January 13, 2020.
Treasury Decision 9889 contained final regulations under the Internal Revenue Code Code that govern the extent to which taxpayers may elect the Federal income tax benefits with respect to certain equity interests in a qualified opportunity fund QOF.
DATES: These corrections are effective on August 5, 2021 and applicable on or after January 13, 2020.
FOR FURTHER INFORMATION CONTACT:
Concerning section 1400Z2 and these regulations generally, Harith J. Razaa, 202 3177006, or Kyle C. Griffin, 202
3174718, of the Office of Associate Chief Counsel Income Tax and Accounting. These numbers are not toll-free numbers.
SUPPLEMENTARY INFORMATION:
SUMMARY:

Background The final regulations TD 9889 that are the subject of this correction are under section 1400Z2 of the Code.

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Need for Correction As published on January 13, 2020 85
FR 19082 the final regulations TD
9889 contain errors that need to be corrected.
List of Subjects in 26 CFR Part 1
Income Taxes, Reporting and recordkeeping requirements.

VerDate Sep<11>2014

16:02 Aug 04, 2021

Jkt 253001

a
3 Self decertification of a QOF. If a QOF chooses to decertify as a QOF, the self-decertification must be effected in such form and manner as may be prescribed by the Commissioner in IRS
forms or instructions or in publications or guidance published in the Internal Revenue Bulletin see 601.601d2
and 601.602 of this chapter.

d
3
vi
D Safe harbor for working capital and property on which working capital is being expended1 Working capital for start-up businesses. For start-up businesses utilizing the working capital safe harbor, if paragraph d3v of this section treats property of an entity that would otherwise be nonqualified financial property as being a reasonable amount of working capital because of compliance with the three requirements of paragraphs d3vA through C of this section, the entity satisfies the requirements of section 1400Z
2d3Ai only during the working capital safe harbor periods for which the requirements of paragraphs d3vA through C of this section are satisfied; however such property is not qualified opportunity zone business property for any purpose.
2 Tangible property acquired with covered working capital. For any eligible entity, if tangible property referred to in paragraph d3vA is expected to satisfy the requirements of section 1400Z2d2Di as a result of the planned expenditure of working capital described in paragraph d3vA, and is purchased, leased, or improved by the trade or business, pursuant to the written plan for the expenditure of the working capital, then the tangible property is treated as qualified opportunity zone business
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property satisfying the requirements of section 1400Z2d2Di, during that and subsequent working capital periods the property is subject to, for purposes of the 70-percent tangible property standard in section 1400Z2d3.

Oluwafunmilayo P. Taylor, Federal Register Liaison, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel Procedure and Administration.
FR Doc. 202116663 Filed 8421; 8:45 am BILLING CODE 483001P

DEPARTMENT OF HOMELAND
SECURITY
Coast Guard 33 CFR Part 165
Docket Number USCG20210574
RIN 1625AA00

Safety Zone; Flagship League Mariners Ball Fireworks; Presque Isle Bay; Erie, PA
Coast Guard, DHS.
Temporary final rule.

AGENCY:
ACTION:

The Coast Guard is establishing a temporary safety zone for navigable waters in Presque Isle bay in Erie, PA. The safety zone is needed to protect personnel, vessels, and the marine environment from potential hazards created by a fireworks display.
Entry of vessels or persons into this zone is prohibited unless specifically authorized by the Captain of the Port Buffalo or a designated representative.
DATES: This rule is effective August 20, 2021, from 8:50 p.m. through 10 p.m.
ADDRESSES: To view documents mentioned in this preamble as being available in the docket, go to https
www.regulations.gov, type USCG2021
0574 in the search box and click Search. Next, in the Document Type column, select Supporting & Related Material.
SUMMARY:

If you have questions on this rule, call or email MST2 Anthony Urbana, U.S.
Coast Guard Sector Buffalo via telephone 7168439342 or email D09SMB-SECBuffalo-WWM@uscg.mil.
SUPPLEMENTARY INFORMATION:
FOR FURTHER INFORMATION CONTACT:

I. Table of Abbreviations CFR Code of Federal Regulations DHS Department of Homeland Security FR Federal Register NPRM Notice of proposed rulemaking Section
E:FRFM05AUR1.SGM

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