HIGHLIGHTS OF THIS ISSUE ADMINISTRATIVE EMPLOYEE PLANS EXEMPT ORGANIZATIONS INCOME TAX The IRS Mission Introduction Part I Rev. Rul. 2023-16 Section 6621.—Determination of Rate of Interest Rev. Rul. 2023-17 Part III Notice 2023-62 Rev. Proc. 2023-29 Part IV Announcement 2023-25 Deletions From Cumulative List of Organizations, Contributions to Which are Deductible Under Section 170 of the Code Announcement 2023-26 Correction to Revenue Procedure 2023-27, I.R.B. 2023-35 Announcement 2023-28 Definition of Terms Abbreviations Numerical Finding List1 Numerical Finding List Finding List of Current Actions on Previously Published Items1 How to get the Internal Revenue Bulletin INTERNAL REVENUE BULLETIN We Welcome Comments About the Internal Revenue Bulletin Internal Revenue Bulletin: 2023-37 September 11, 2023 HIGHLIGHTS OF THIS ISSUE These synopses are intended only as aids to the reader in identifying the subject matter covered. They may not be relied upon as authoritative interpretations. ADMINISTRATIVE Rev. Rul. 2023-17, page 798. Interest rates: underpayments and overpayments. The rates for interest determined under Section 6621 of the code for the calendar quarter beginning October 1, 2023, will be 8 percent for overpayments (7 percent in the case of a corporation), 8 percent for underpayments, and 10 percent for large corporate underpayments. The rate of interest paid on the portion of a corporate overpayment exceeding $10,000 will be 5.5 percent. 26 CFR 301.6621-1: Interest rate. EMPLOYEE PLANS Notice 2023-62, page 817. This notice provides guidance with respect to section 603 of the SECURE 2.0 Act of 2022 and announces a 2-year administrative transition period with respect to the requirement under section 603 that catch-up contributions made on behalf of certain eligible participants be designated as Roth contributions. The notice also describes certain further guidance that the Treasury Department and the IRS anticipate issuing with respect to section 603 and requests comments. EXEMPT ORGANIZATIONS Announcement 2023-25, page 821. Revocation of IRC 501(c) (3) Organizations for failure to meet the code section requirements Contributions made to the Organizations by individual donors are no longer deductible under IRC 170 (b)(1)(A) Announcement 2023-26, page 822. Revocation of IRC 501(c) (3) Organizations for failure to meet the code section requirements Contributions made to the Organizations by individual donors are no longer deductible under IRC 170 (b)(1)(A). INCOME TAX Announcement 2023-28, page 823. This document contains corrections to Rev. Proc. 2023-27, as published on Monday, August 28, 2023 (I.R.B. 2023-35, 655) In particular, this announcement corrects four administrative items. Rev. Proc. 2023-29, page 819. This revenue procedure provides the applicable percentage table in § 36B(b)(3)(A) of the Internal Revenue Code for taxable years beginning in calendar year 2024. This table is used to calculate an individual’s premium tax credit under § 36B. This revenue procedure also provides the indexing adjustment for the required contribution percentage in § 36B(c)(2)(C)(i)(II) for plan years beginning in calendar year 2024. This percentage is used to determine whether an individual is eligible for affordable employer-sponsored minimum essential coverage under § 36B. 26 CFR 601.105: Examination of returns and claims for refund, credit, or abatement; determination of correct tax liability. (Also Part 1, §§ 36B, 1.36B-2, 1.36B-3.) Rev. Rul. 2023-16, page 796. Federal rates; adjusted federal rates; adjusted federal long-term rate, and the long-term tax exempt rate. For purposes of sections 382, 1274, 1288, 7872 and other sections of the Code, tables set forth the rates for September 2023. The IRS Mission Provide America’s taxpayers top-quality service by helping them understand and meet their tax responsibilities and enforce the law with integrity and fairness to all. Introduction The Internal Revenue Bulletin is the authoritative instrument of the Commissioner of Internal Revenue for announcing official rulings and procedures of the Internal Revenue Service and for publishing Treasury Decisions, Executive Orders, Tax Conventions, legislation, court decisions, and other items of general interest. It is published weekly. It is the policy of the Service to publish in the Bulletin all substantive rulings necessary to promote a uniform application of the tax laws, including all rulings that supersede, revoke, modify, or amend any of those previously published in the Bulletin. All published rulings apply retroactively unless otherwise indicated. Procedures relating solely to matters of internal management are not published; however, statements of internal practices and procedures that affect the rights and duties of taxpayers are published. Revenue rulings represent the conclusions of the Service on the application of the law to the pivotal facts stated in the revenue ruling. In those based on positions taken in rulings to taxpayers or technical advice to Service field offices, identifying details and information of a confidential nature are deleted to prevent unwarranted invasions of privacy and to comply with statutory requirements. Rulings and procedures reported in the Bulletin do not have the force and effect of Treasury Department Regulations, but they may be used as precedents. Unpublished rulings will not be relied on, used, or cited as precedents by Service personnel in the disposition of other cases. In applying published rulings and procedures, the effect of subsequent legislation, regulations, court decisions, rulings, and procedures must be considered, and Service personnel and others concerned are cautioned against reaching the same conclusions in other cases unless the facts and circumstances are substantially the same. The Bulletin is divided into four parts as follows: Part I.—1986 Code. This part includes rulings and decisions based on provisions of the Internal Revenue Code of 1986. Part II.—Treaties and Tax Legislation. This part is divided into two subparts as follows: Subpart A, Tax Conventions and Other Related Items, and Subpart B, Legislation and Related Committee Reports. Part III.—Administrative, Procedural, and Miscellaneous. To the extent practicable, pertinent cross references to these subjects are contained in the other Parts and Subparts. Also included in this part are Bank Secrecy Act Administrative Rulings. Bank Secrecy Act Administrative Rulings are issued by the Department of the Treasury’s Office of the Assistant Secretary (Enforcement). Part IV.—Items of General Interest. This part includes notices of proposed rulemakings, disbarment and suspension lists, and announcements. The last Bulletin for each month includes a cumulative index for the matters published during the preceding months. These monthly indexes are cumulated on a semiannual basis, and are published in the last Bulletin of each semiannual period. Part I Section 1274.—Determination of Issue Price in the Case of Certain Debt Instruments Issued for Property Rev. Rul. 2023-16 This revenue ruling provides various prescribed rates for federal income tax purposes for September 2023 (the current month). Table 1 contains the short-term, mid-term, and long-term applicable federal rates (AFR) for the current month for purposes of section 1274(d) of the Internal Revenue Code. Table 2 contains the short-term, mid-term, and long-term adjusted applicable federal rates (adjusted AFR) for the current month for purposes of section 1288(b). Table 3 sets forth the adjusted federal long-term rate and the long-term tax-exempt rate described in section 382(f). Table 4 contains the appropriate percentages for determining the low-income housing credit described in section 42(b)(1) for buildings placed in service during the current month. However, under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, shall not be less than 9%. Finally, Table 5 contains the federal rate for determining the present value of an annuity, an interest for life or for a term of years, or a remainder or a reversionary interest for purposes of section 7520. REV. RUL. 2023-16 TABLE 1 Applicable Federal Rates (AFR) for September 2023 Period for Compounding Annual Semiannual Quarterly Monthly Short-term AFR 5.12% 5.06% 5.03% 5.01% 110% AFR 5.65% 5.57% 5.53% 5.51% 120% AFR 6.16% 6.07% 6.02% 5.99% 130% AFR 6.69% 6.58% 6.53% 6.49% Mid-term AFR 4.19% 4.15% 4.13% 4.11% 110% AFR 4.62% 4.57% 4.54% 4.53% 120% AFR 5.04% 4.98% 4.95% 4.93% 130% AFR 5.47% 5.40% 5.36% 5.34% 150% AFR 6.33% 6.23% 6.18% 6.15% 175% AFR 7.39% 7.26% 7.20% 7.15% Long-term AFR 4.19% 4.15% 4.13% 4.11% 110% AFR 4.62% 4.57% 4.54% 4.53% 120% AFR 5.04% 4.98% 4.95% 4.93% 130% AFR 5.47% 5.40% 5.36% 5.34% REV. RUL. 2023-16 TABLE 2 Adjusted AFR for September 2023 Period for Compounding Annual Semiannual Quarterly Monthly Short-term adjusted AFR 3.88% 3.84% 3.82% 3.81% Mid-term adjusted AFR 3.17% 3.15% 3.14% 3.13% Long-term adjusted AFR 3.17% 3.15% 3.14% 3.13% REV. RUL. 2023-16 TABLE 3 Rates Under Section 382 for September 2023 Adjusted federal long-term rate for the current month 3.17% Long-term tax-exempt rate for ownership changes during the current month (the highest of the adjusted federal long-term rates for the current month and the prior two months.) 3.17% REV. RUL. 2023-16 TABLE 4 Appropriate Percentages Under Section 42(b)(1) for September 2023 Note: Under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, shall not be less than 9%. Appropriate percentage for the 70% present value low-income housing credit 7.97% Appropriate percentage for the 30% present value low-income housing credit 3.42% REV. RUL. 2023-16 TABLE 5 Rate Under Section 7520 for September 2023 Applicable federal rate for determining the present value of an annuity, an interest for life or a term of years, or a remainder or reversionary interest 5.00% Section 42.—Low-Income Housing Credit The applicable federal short-term, mid-term, and long-term rates are set forth for the month of September 2023. See Rev. Rul. 2023-16, page 796. Section 280G.—Golden Parachute Payments The applicable federal short-term, mid-term, and long-term rates are set forth for the month of September 2023. See Rev. Rul. 2023-16, page 796. Section 382.—Limitation on Net Operating Loss Carryforwards and Certain Built-In Losses Following Ownership Change The adjusted applicable federal long-term rate is set forth for the month of September 2023. See Rev. Rul. 2023-16, page 796. Section 467.—Certain Payments for the Use of Property or Services The applicable federal short-term, mid-term, and long-term rates are set forth for the month of September 2023. See Rev. Rul. 2023-16, page 796. Section 468.—Special Rules for Mining and Solid Waste Reclamation and Closing Costs The applicable federal short-term rates are set forth for the month of September 2023. See Rev. Rul. 2023-16, page 796. Section 482.—Allocation of Income and Deductions Among Taxpayers The applicable federal short-term, mid-term, and long-term rates are set forth for the month of September 2023. See Rev. Rul. 2023-16, page 796. Section 483.—Interest on Certain Deferred Payments The applicable federal short-term, mid-term, and long-term rates are set forth for the month of September 2023. See Rev. Rul. 2023-16, page 796. Section 1288.—Treatment of Original Issue Discount on Tax-Exempt Obligations The adjusted applicable federal short-term, mid-term, and long-term rates are set forth for the month of September 2023. See Rev. Rul. 2023-16, page 796. Section 7520.—Valuation Tables The applicable federal mid-term rates are set forth for the month of September 2023. See Rev. Rul. 2023-16, page 796. Section 7872.—Treatment of Loans With Below-Market Interest Rates The applicable federal short-term, mid-term, and long-term rates are set forth for the month of September 2023. See Rev. Rul. 2023-16, page 796. Section 6621.—Determination of Rate of Interest Rev. Rul. 2023-17 Section 6621 of the Internal Revenue Code establishes the interest rates on overpayments and underpayments of tax. Under section 6621(a)(1), the overpayment rate is the sum of the federal short-term rate plus 3 percentage points (2 percentage points in the case of a corporation), except the rate for the portion of a corporate overpayment of tax exceeding $10,000 for a taxable period is the sum of the federal short-term rate plus 0.5 of a percentage point. Under section 6621(a)(2), the underpayment rate is the sum of the federal short-term rate plus 3 percentage points. Section 6621(c) provides that for purposes of interest payable under section 6601 on any large corporate underpayment, the underpayment rate under section 6621(a)(2) is determined by substituting “5 percentage points” for “3 percentage points.” See section 6621(c) and section 301.6621-3 of the Regulations on Procedure and Administration for the definition of a large corporate underpayment and for the rules for determining the applicable date. Section 6621(c) and section 301.6621-3 are generally effective for periods after December 31, 1990. Section 6621(b)(1) provides that the Secretary will determine the federal short-term rate for the first month in each calendar quarter. Section 6621(b)(2)(A) provides that the federal short-term rate determined under section 6621(b)(1) for any month applies during the first calendar quarter beginning after that month. Section 6621(b)(3) provides that the federal short-term rate for any month is the federal short-term rate determined during that month by the Secretary in accordance with section 1274(d), rounded to the nearest full percent (or, if a multiple of 1/2 of 1 percent, the rate is increased to the next highest full percent). Notice 88-59, 1988-1 C.B. 546, announced that in determining the quarterly interest rates to be used for overpayments and underpayments of tax under section 6621, the Internal Revenue Service will use the federal short-term rate based on daily compounding because that rate is most consistent with section 6621 which, pursuant to section 6622, is subject to daily compounding. The federal short-term rate determined in accordance with section 1274(d) during July 2023 is the rate published in Revenue Ruling 2023-13, 2023-32 IRB 413, to take effect beginning August 1, 2023. The federal short-term rate, rounded to the nearest full percent, based on daily compounding determined during the month of July 2023 is 5 percent. Accordingly, an overpayment rate of 8 percent (7 percent in the case of a corporation) and an underpayment rate of 8 percent are established for the calendar quarter beginning October 1, 2023. The overpayment rate for the portion of a corporate overpayment exceeding $10,000 for the calendar quarter beginning October 1, 2023, is 5.5 percent. The underpayment rate for large corporate underpayments for the calendar quarter beginning October 1, 2023, is 10 percent. These rates apply to amounts bearing interest during that calendar quarter. Sections 6654(a)(1) and 6655(a)(1) provide that the underpayment rate established under section 6621 applies in determining the addition to tax under sections 6654 and 6655 for failure to pay estimated tax for any taxable year. Thus, the 8 percent rate also applies to estimated tax underpayments for the fourth calendar quarter beginning October 1, 2023. In addition, pursuant to section 6603(d)(4), the rate of interest on section 6603 deposits is 5 percent for the fourth calendar quarter in 2023. Interest factors for daily compound interest for annual rates of 5.5 percent, 7 percent, 8 percent and 10 percent are published in Tables 16, 19, 21 and 25 of Rev.Proc. 95-17, 1995-1 C.B. 570, 573, 575, and 579. Annual interest rates to be compounded daily pursuant to section 6622 that apply for prior periods are set forth in the tables accompanying this revenue ruling. DRAFTING INFORMATION The principal author of this revenue ruling is Casey R. Conrad of the Office of the Associate Chief Counsel (Procedure and Administration). For further information regarding this revenue ruling, contact Mr. Conrad at (202) 317-6844 (not a toll-free call). APPENDIX A 365 Day Year 0.5% Compound Rate 184 Days Days Factor Days Factor Days Factor 1 0.000013699 63 0.000863380 125 0.001713784 2 0.000027397 64 0.000877091 126 0.001727506 3 0.000041096 65 0.000890801 127 0.001741228 4 0.000054796 66 0.000904512 128 0.001754951 5 0.000068495 67 0.000918223 129 0.001768673 6 0.000082195 68 0.000931934 130 0.001782396 7 0.000095894 69 0.000945646 131 0.001796119 8 0.000109594 70 0.000959357 132 0.001809843 9 0.000123294 71 0.000973069 133 0.001823566 10 0.000136995 72 0.000986781 134 0.001837290 11 0.000150695 73 0.001000493 135 0.001851013 12 0.000164396 74 0.001014206 136 0.001864737 13 0.000178097 75 0.001027918 137 0.001878462 14 0.000191798 76 0.001041631 138 0.001892186 15 0.000205499 77 0.001055344 139 0.001905910 16 0.000219201 78 0.001069057 140 0.001919635 17 0.000232902 79 0.001082770 141 0.001933360 18 0.000246604 80 0.001096484 142 0.001947085 19 0.000260306 81 0.001110197 143 0.001960811 20 0.000274008 82 0.001123911 144 0.001974536 21 0.000287711 83 0.001137625 145 0.001988262 22 0.000301413 84 0.001151339 146 0.002001988 23 0.000315116 85 0.001165054 147 0.002015714 24 0.000328819 86 0.001178768 148 0.002029440 25 0.000342522 87 0.001192483 149 0.002043166 26 0.000356225 88 0.001206198 150 0.002056893 27 0.000369929 89 0.001219913 151 0.002070620 28 0.000383633 90 0.001233629 152 0.002084347 29 0.000397336 91 0.001247344 153 0.002098074 30 0.000411041 92 0.001261060 154 0.002111801 31 0.000424745 93 0.001274776 155 0.002125529 32 0.000438449 94 0.001288492 156 0.002139257 33 0.000452154 95 0.001302208 157 0.002152985 34 0.000465859 96 0.001315925 158 0.002166713 35 0.000479564 97 0.001329641 159 0.002180441 36 0.000493269 98 0.001343358 160 0.002194169 37 0.000506974 99 0.001357075 161 0.002207898 38 0.000520680 100 0.001370792 162 0.002221627 39 0.000534386 101 0.001384510 163 0.002235356 40 0.000548092 102 0.001398227 164 0.002249085 41 0.000561798 103 0.001411945 165 0.002262815 42 0.000575504 104 0.001425663 166 0.002276544 43 0.000589211 105 0.001439381 167 0.002290274 44 0.000602917 106 0.001453100 168 0.002304004 45 0.000616624 107 0.001466818 169 0.002317734 46 0.000630331 108 0.001480537 170 0.002331465 47 0.000644039 109 0.001494256 171 0.002345195 48 0.000657746 110 0.001507975 172 0.002358926 49 0.000671454 111 0.001521694 173 0.002372657 50 0.000685161 112 0.001535414 174 0.002386388 51 0.000698869 113 0.001549133 175 0.002400120 52 0.000712578 114 0.001562853 176 0.002413851 53 0.000726286 115 0.001576573 177 0.002427583 54 0.000739995 116 0.001590293 178 0.002441315 55 0.000753703 117 0.001604014 179 0.002455047 56 0.000767412 118 0.001617734 180 0.002468779 57 0.000781121 119 0.001631455 181 0.002482511 58 0.000794831 120 0.001645176 182 0.002496244 59 0.000808540 121 0.001658897 183 0.002509977 60 0.000822250 122 0.001672619 184 0.002523710 61 0.000835960 123 0.001686340 62 0.000849670 124 0.001700062 366 Day Year 0.5% Compound Rate 184 Days Days Factor Days Factor Days Factor 1 0.000013661 63 0.000861020 125 0.001709097 2 0.000027323 64 0.000874693 126 0.001722782 3 0.000040984 65 0.000888366 127 0.001736467 4 0.000054646 66 0.000902040 128 0.001750152 5 0.000068308 67 0.000915713 129 0.001763837 6 0.000081970 68 0.000929387 130 0.001777522 7 0.000095632 69 0.000943061 131 0.001791208 8 0.000109295 70 0.000956735 132 0.001804893 9 0.000122958 71 0.000970409 133 0.001818579 10 0.000136620 72 0.000984084 134 0.001832265 11 0.000150283 73 0.000997758 135 0.001845951 12 0.000163947 74 0.001011433 136 0.001859638 13 0.000177610 75 0.001025108 137 0.001873324 14 0.000191274 76 0.001038783 138 0.001887011 15 0.000204938 77 0.001052459 139 0.001900698 16 0.000218602 78 0.001066134 140 0.001914385 17 0.000232266 79 0.001079810 141 0.001928073 18 0.000245930 80 0.001093486 142 0.001941760 19 0.000259595 81 0.001107162 143 0.001955448 20 0.000273260 82 0.001120839 144 0.001969136 21 0.000286924 83 0.001134515 145 0.001982824 22 0.000300590 84 0.001148192 146 0.001996512 23 0.000314255 85 0.001161869 147 0.002010201 24 0.000327920 86 0.001175546 148 0.002023889 25 0.000341586 87 0.001189223 149 0.002037578 26 0.000355252 88 0.001202900 150 0.002051267 27 0.000368918 89 0.001216578 151 0.002064957 28 0.000382584 90 0.001230256 152 0.002078646 29 0.000396251 91 0.001243934 153 0.002092336 30 0.000409917 92 0.001257612 154 0.002106025 31 0.000423584 93 0.001271291 155 0.002119715 32 0.000437251 94 0.001284969 156 0.002133405 33 0.000450918 95 0.001298648 157 0.002147096 34 0.000464586 96 0.001312327 158 0.002160786 35 0.000478253 97 0.001326006 159 0.002174477 36 0.000491921 98 0.001339685 160 0.002188168 37 0.000505589 99 0.001353365 161 0.002201859 38 0.000519257 100 0.001367044 162 0.002215550 39 0.000532925 101 0.001380724 163 0.002229242 40 0.000546594 102 0.001394404 164 0.002242933 41 0.000560262 103 0.001408085 165 0.002256625 42 0.000573931 104 0.001421765 166 0.002270317 43 0.000587600 105 0.001435446 167 0.002284010 44 0.000601269 106 0.001449127 168 0.002297702 45 0.000614939 107 0.001462808 169 0.002311395 46 0.000628608 108 0.001476489 170 0.002325087 47 0.000642278 109 0.001490170 171 0.002338780 48 0.000655948 110 0.001503852 172 0.002352473 49 0.000669618 111 0.001517533 173 0.002366167 50 0.000683289 112 0.001531215 174 0.002379860 51 0.000696959 113 0.001544897 175 0.002393554 52 0.000710630 114 0.001558580 176 0.002407248 53 0.000724301 115 0.001572262 177 0.002420942 54 0.000737972 116 0.001585945 178 0.002434636 55 0.000751643 117 0.001599628 179 0.002448331 56 0.000765315 118 0.001613311 180 0.002462025 57 0.000778986 119 0.001626994 181 0.002475720 58 0.000792658 120 0.001640678 182 0.002489415 59 0.000806330 121 0.001654361 183 0.002503110 60 0.000820003 122 0.001668045 184 0.002516806 61 0.000833675 123 0.001681729 62 0.000847348 124 0.001695413 TABLE OF INTEREST RATES PERIODS BEFORE JUL. 1, 1975 - PERIODS ENDING DEC. 31, 1986 OVERPAYMENTS AND UNDERPAYMENTS PERIOD RATE In 1995-1 C.B. DAILY RATE TABLE Before Jul. 1, 1975 6% Table 2, pg. 557 Jul. 1, 1975–Jan. 31, 1976 9% Table 4, pg. 559 Feb. 1, 1976–Jan. 31, 1978 7% Table 3, pg. 558 Feb. 1, 1978–Jan. 31, 1980 6% Table 2, pg. 557 Feb. 1, 1980–Jan. 31, 1982 12% Table 5, pg. 560 Feb. 1, 1982–Dec. 31, 1982 20% Table 6, pg. 560 Jan. 1, 1983–Jun. 30, 1983 16% Table 37, pg. 591 Jul. 1, 1983–Dec. 31, 1983 11% Table 27, pg. 581 Jan. 1, 1984–Jun. 30, 1984 11% Table 75, pg. 629 Jul. 1, 1984–Dec. 31, 1984 11% Table 75, pg. 629 Jan. 1, 1985–Dec. 31, 1985 13% Table 31, pg. 585 Jul. 1, 1985–Dec. 31, 1985 11% Table 27, pg. 581 Jan. 1, 1986–Jun. 30, 1986 10% Table 25, pg. 579 Jul. 1, 1986–Dec. 31, 1986 9% Table 23, pg. 577 TABLE OF INTEREST RATES FROM JAN. 1, 1987 – Dec. 31, 1998 OVERPAYMENTS UNDERPAYMENTS 1995-1 C.B. 1995-1 C.B. RATE RATE TABLE PG RATE TABLE PG Jan. 1, 1987–Mar. 31, 1987 8% 21 575 9% 23 577 Apr. 1, 1987–Jun. 30, 1987 8% 21 575 9% 23 577 Jul. 1, 1987–Sep. 30, 1987 8% 21 575 9% 23 577 Oct. 1, 1987–Dec. 31, 1987 9% 23 577 10% 25 579 Jan. 1, 1988–Mar. 31, 1988 10% 73 627 11% 75 629 Apr. 1, 1988–Jun. 30, 1988 9% 71 625 10% 73 627 Jul. 1, 1988–Sep. 30, 1988 9% 71 625 10% 73 627 Oct. 1, 1988–Dec. 31, 1988 10% 73 627 11% 75 629 Jan. 1, 1989–Mar. 31, 1989 10% 25 579 11% 27 581 Apr. 1, 1989–Jun. 30, 1989 11% 27 581 12% 29 583 Jul. 1, 1989–Sep. 30, 1989 11% 27 581 12% 29 583 Oct. 1, 1989–Dec. 31, 1989 10% 25 579 11% 27 581 Jan. 1, 1990–Mar. 31, 1990 10% 25 579 11% 27 581 Apr. 1, 1990–Jun. 30, 1990 10% 25 579 11% 27 581 Jul. 1, 1990–Sep. 30, 1990 10% 25 579 11% 27 581 Oct. 1, 1990–Dec. 31, 1990 10% 25 579 11% 27 581 Jan. 1, 1991–Mar. 31, 1991 10% 25 579 11% 27 581 Apr. 1, 1991–Jun. 30, 1991 9% 23 577 10% 25 579 Jul. 1, 1991–Sep. 30, 1991 9% 23 577 10% 25 579 Oct. 1, 1991–Dec. 31, 1991 9% 23 577 10% 25 579 Jan. 1, 1992–Mar. 31, 1992 8% 69 623 9% 71 625 Apr. 1, 1992–Jun. 30, 1992 7% 67 621 8% 69 623 Jul. 1, 1992–Sep. 30, 1992 7% 67 621 8% 69 623 Oct. 1, 1992–Dec. 31, 1992 6% 65 619 7% 67 621 Jan. 1, 1993–Mar. 31, 1993 6% 17 571 7% 19 573 Apr. 1, 1993–Jun. 30, 1993 6% 17 571 7% 19 573 Jul. 1, 1993–Sep. 30, 1993 6% 17 571 7% 19 573 Oct. 1, 1993–Dec. 31, 1993 6% 17 571 7% 19 573 Jan. 1, 1994–Mar. 31, 1994 6% 17 571 7% 19 573 Apr. 1, 1994–Jun. 30, 1994 6% 17 571 7% 19 573 Jul. 1, 1994–Sep. 30, 1994 7% 19 573 8% 21 575 Oct. 1, 1994–Dec. 31, 1994 8% 21 575 9% 23 577 Jan. 1, 1995–Mar. 31, 1995 8% 21 575 9% 23 577 Apr. 1, 1995–Jun. 30, 1995 9% 23 577 10% 25 579 Jul. 1, 1995–Sep. 30, 1995 8% 21 575 9% 23 577 Oct. 1, 1995–Dec. 31, 1995 8% 21 575 9% 23 577 Jan. 1, 1996–Mar. 31, 1996 8% 69 623 9% 71 625 Apr. 1, 1996–Jun. 30, 1996 7% 67 621 8% 69 623 Jul. 1, 1996–Sep. 30, 1996 8% 69 623 9% 71 625 Oct. 1, 1996–Dec. 31, 1996 8% 69 623 9% 71 625 Jan. 1, 1997–Mar. 31, 1997 8% 21 575 9% 23 577 Apr. 1, 1997–Jun. 30, 1997 8% 21 575 9% 23 577 Jul. 1, 1997–Sep. 30, 1997 8% 21 575 9% 23 577 Oct. 1, 1997–Dec. 31, 1997 8% 21 575 9% 23 577 Jan. 1, 1998–Mar. 31, 1998 8% 21 575 9% 23 577 Apr. 1, 1998–Jun. 30, 1998 7% 19 573 8% 21 575 Jul. 1, 1998–Sep. 30, 1998 7% 19 573 8% 21 575 Oct. 1, 1998–Dec. 31, 1998 7% 19 573 8% 21 575 TABLE OF INTEREST RATES FROM JANUARY 1, 1999 - PRESENT NONCORPORATE OVERPAYMENTS AND UNDERPAYMENTS 1995-1 C.B. RATE TABLE PAGE Jan. 1, 1999–Mar. 31, 1999 7% 19 573 Apr. 1, 1999–Jun. 30, 1999 8% 21 575 Jul. 1, 1999–Sep. 30, 1999 8% 21 575 Oct. 1, 1999–Dec. 31, 1999 8% 21 575 Jan. 1, 2000–Mar. 31, 2000 8% 69 623 Apr. 1, 2000–Jun. 30, 2000 9% 71 625 Jul. 1, 2000–Sep. 30, 2000 9% 71 625 Oct. 1, 2000–Dec. 31, 2000 9% 71 625 Jan. 1, 2001–Mar. 31, 2001 9% 23 577 Apr. 1, 2001–Jun. 30, 2001 8% 21 575 Jul. 1, 2001–Sep. 30, 2001 7% 19 573 Oct. 1, 2001–Dec. 31, 2001 7% 19 573 Jan. 1, 2002–Mar. 31, 2002 6% 17 571 Apr. 1, 2002–Jun. 30, 2002 6% 17 571 Jul. 1, 2002–Sep. 30, 2002 6% 17 571 Oct. 1, 2002–Dec. 31, 2002 6% 17 571 Jan. 1, 2003–Mar. 31, 2003 5% 15 569 Apr. 1, 2003–Jun. 30, 2003 5% 15 569 Jul. 1, 2003–Sep. 30, 2003 5% 15 569 Oct. 1, 2003–Dec. 31, 2003 4% 13 567 Jan. 1, 2004–Mar. 31, 2004 4% 61 615 Apr. 1, 2004–Jun. 30, 2004 5% 63 617 Jul. 1, 2004–Sep. 30, 2004 4% 61 615 Oct. 1, 2004–Dec. 31, 2004 5% 63 617 Jan. 1, 2005–Mar. 31, 2005 5% 15 569 Apr. 1, 2005–Jun. 30, 2005 6% 17 571 Jul. 1, 2005–Sep. 30, 2005 6% 17 571 Oct. 1, 2005–Dec. 31, 2005 7% 19 573 Jan. 1, 2006–Mar. 31, 2006 7% 19 573 Apr. 1, 2006–Jun. 30, 2006 7% 19 573 Jul. 1, 2006–Sep. 30, 2006 8% 21 575 Oct. 1, 2006–Dec. 31, 2006 8% 21 575 Jan. 1, 2007–Mar. 31, 2007 8% 21 575 Apr. 1, 2007–Jun. 30, 2007 8% 21 575 Jul. 1, 2007–Sep. 30, 2007 8% 21 575 Oct. 1, 2007–Dec. 31, 2007 8% 21 575 Jan. 1, 2008–Mar. 31, 2008 7% 67 621 Apr. 1, 2008–Jun. 30, 2008 6% 65 619 Jul. 1, 2008–Sep. 30, 2008 5% 63 617 Oct. 1, 2008–Dec. 31, 2008 6% 65 619 Jan. 1, 2009–Mar. 31, 2009 5% 15 569 Apr. 1, 2009–Jun. 30, 2009 4% 13 567 Jul. 1, 2009–Sep. 30, 2009 4% 13 567 Oct. 1, 2009–Dec. 31, 2009 4% 13 567 Jan. 1, 2010–Mar. 31, 2010 4% 13 567 Apr. 1, 2010–Jun. 30, 2010 4% 13 567 Jul. 1, 2010–Sep. 30, 2010 4% 13 567 Oct. 1, 2010–Dec. 31, 2010 4% 13 567 Jan. 1, 2011–Mar. 31, 2011 3% 11 565 Apr. 1, 2011–Jun. 30, 2011 4% 13 567 Jul. 1, 2011–Sep. 30, 2011 4% 13 567 Oct. 1, 2011–Dec. 31, 2011 3% 11 565 Jan. 1, 2012–Mar. 31, 2012 3% 59 613 Apr. 1, 2012–Jun. 30, 2012 3% 59 613 Jul. 1, 2012–Sep. 30, 2012 3% 59 613 Oct. 1, 2012–Dec. 31, 2012 3% 59 613 Jan. 1, 2013–Mar. 31, 2013 3% 11 565 Apr. 1, 2013–Jun. 30, 2013 3% 11 565 Jul. 1, 2013–Sep. 30, 2013 3% 11 565 Oct. 1, 2013–Dec. 31, 2013 3% 11 565 Jan. 1, 2014–Mar. 31, 2014 3% 11 565 Apr. 1, 2014–Jun. 30, 2014 3% 11 565 Jul. 1, 2014–Sep. 30, 2014 3% 11 565 Oct. 1, 2014–Dec. 31, 2014 3% 11 565 Jan. 1, 2015–Mar. 31, 2015 3% 11 565 Apr. 1, 2015–Jun. 30, 2015 3% 11 565 Jul. 1, 2015–Sep. 30, 2015 3% 11 565 Oct. 1, 2015–Dec. 31, 2015 3% 11 565 Jan. 1, 2016–Mar. 31, 2016 3% 59 613 Apr. 1, 2016–Jun. 30, 2016 4% 61 615 Jul. 1, 2016–Sep. 30, 2016 4% 61 615 Oct. 1, 2016–Dec. 31, 2016 4% 61 615 Jan. 1, 2017–Mar. 31, 2017 4% 13 567 Apr. 1, 2017–Jun. 30, 2017 4% 13 567 Jul. 1, 2017–Sep. 30, 2017 4% 13 567 Oct. 1, 2017–Dec. 31, 2017 4% 13 567 Jan. 1, 2018–Mar. 31, 2018 4% 13 567 Apr. 1, 2018–Jun. 30, 2018 5% 15 569 Jul. 1, 2018–Sep. 30, 2018 5% 15 569 Oct. 1, 2018–Dec. 31, 2018 5% 15 569 Jan. 1, 2019–Mar. 31, 2019 6% 17 571 Apr. 1, 2019–Jun. 30, 2019 6% 17 571 Jul. 1, 2019–Sep. 30, 2019 5% 15 569 Oct. 1, 2019–Dec. 31, 2019 5% 15 569 Jan. 1, 2020–Mar. 31, 2020 5% 63 617 Apr. 1, 2020–Jun. 30, 2020 5% 63 617 Jul. 1, 2020–Sep. 30, 2020 3% 59 613 Oct. 1, 2020–Dec. 31, 2020 3% 59 613 Jan. 1, 2021–Mar. 31, 2021 3% 11 565 Apr. 1, 2021–Jun. 30, 2021 3% 11 565 Jul. 1, 2021–Sep. 30, 2021 3% 11 565 Oct. 1, 2021–Dec. 31, 2021 3% 11 565 Jan. 1, 2022–Mar. 31, 2022 3% 11 565 Apr. 1, 2022–Jun. 30, 2022 4% 13 567 Jul. 1, 2022–Sep. 30, 2022 5% 15 569 Oct. 1, 2022–Dec. 31, 2022 6% 17 571 Jan. 1, 2023–Mar. 31, 2023 7% 19 573 Apr. 1, 2023–Jun. 30, 2023 7% 19 573 Jul. 1, 2023–Sep. 30, 2023 7% 19 573 Oct. 1, 2023–Dec. 31, 2023 8% 21 575 TABLE OF INTEREST RATES FROM JANUARY 1, 1999 - PRESENT CORPORATE OVERPAYMENTS AND UNDERPAYMENTS OVERPAYMENTS UNDERPAYMENTS 1995-1 C.B. 1995-1 C.B. RATE TABLE PG RATE TABLE PG Jan. 1, 1999–Mar. 31, 1999 6% 17 571 7% 19 573 Apr. 1, 1999–Jun. 30, 1999 7% 19 573 8% 21 575 Jul. 1, 1999–Sep. 30, 1999 7% 19 573 8% 21 575 Oct. 1, 1999–Dec. 31, 1999 7% 19 573 8% 21 575 Jan. 1, 2000–Mar. 30, 2000 7% 67 621 8% 69 623 Apr. 1, 2000–Jun. 30, 2000 8% 69 623 9% 71 625 Jul. 1, 2000–Sep. 30, 2000 8% 69 623 9% 71 625 Oct. 1, 2000–Dec. 31, 2000 8% 69 623 9% 71 625 Jan. 1, 2001–Mar. 31, 2001 8% 21 575 9% 23 577 Apr. 1, 2001–Jun. 30, 2001 7% 19 573 8% 21 575 Jul. 1, 2001–Sep. 30, 2001 6% 17 571 7% 19 573 Oct. 1, 2001–Dec. 31, 2001 6% 17 571 7% 19 573 Jan. 1, 2002–Mar. 31, 2002 5% 15 569 6% 17 571 Apr. 1, 2002–Jun. 30, 2002 5% 15 569 6% 17 571 Jul. 1, 2002–Sep. 30, 2002 5% 15 569 6% 17 571 Oct. 1, 2002–Dec. 31, 2002 5% 15 569 6% 17 571 Jan. 1, 2003–Mar. 31, 2003 4% 13 567 5% 15 569 Apr. 1, 2003–Jun. 30, 2003 4% 13 567 5% 15 569 Jul. 1, 2003–Sep. 30, 2003 4% 13 567 5% 15 569 Oct. 1, 2003–Dec. 31, 2003 3% 11 565 4% 13 567 Jan. 1, 2004–Mar. 31, 2004 3% 59 613 4% 61 615 Apr. 1, 2004–Jun. 30, 2004 4% 61 615 5% 63 617 Jul. 1, 2004–Sep. 30, 2004 3% 59 613 4% 61 615 Oct. 1, 2004–Dec. 31, 2004 4% 61 615 5% 63 617 Jan. 1, 2005–Mar. 31, 2005 4% 13 567 5% 15 569 Apr. 1, 2005–Jun. 30, 2005 5% 15 569 6% 17 571 Jul. 1, 2005–Sep. 30, 2005 5% 15 569 6% 17 571 Oct. 1, 2005–Dec. 31, 2005 6% 17 571 7% 19 573 Jan. 1, 2006–Mar. 31, 2006 6% 17 571 7% 19 573 Apr. 1, 2006–Jun. 30, 2006 6% 17 571 7% 19 573 Jul. 1, 2006–Sep. 30, 2006 7% 19 573 8% 21 575 Oct. 1, 2006–Dec. 31, 2006 7% 19 573 8% 21 575 Jan. 1, 2007–Mar. 31, 2007 7% 19 573 8% 21 575 Apr. 1, 2007–Jun. 30, 2007 7% 19 573 8% 21 575 Jul. 1, 2007–Sep. 30, 2007 7% 19 573 8% 21 575 Oct. 1, 2007–Dec. 31, 2007 7% 19 573 8% 21 575 Jan. 1, 2008–Mar. 31, 2008 6% 65 619 7% 67 621 Apr. 1, 2008–Jun. 30, 2008 5% 63 617 6% 65 619 Jul. 1, 2008–Sep. 30, 2008 4% 61 615 5% 63 617 Oct. 1, 2008–Dec. 31, 2008 5% 63 617 6% 65 619 Jan. 1, 2009–Mar. 31, 2009 4% 13 567 5% 15 569 Apr. 1, 2009–Jun. 30, 2009 3% 11 565 4% 13 567 Jul. 1, 2009–Sep. 30, 2009 3% 11 565 4% 13 567 Oct. 1, 2009–Dec. 31, 2009 3% 11 565 4% 13 567 Jan. 1, 2010–Mar. 31, 2010 3% 11 565 4% 13 567 Apr. 1, 2010–Jun. 30, 2010 3% 11 565 4% 13 567 Jul. 1, 2010–Sep. 30, 2010 3% 11 565 4% 13 567 Oct. 1, 2010–Dec. 31, 2010 3% 11 565 4% 13 567 Jan. 1, 2011–Mar. 31, 2011 2% 9 563 3% 11 565 Apr. 1, 2011–Jun. 30, 2011 3% 11 565 4% 13 567 Jul. 1, 2011–Sep. 30, 2011 3% 11 565 4% 13 567 Oct. 1, 2011–Dec. 31, 2011 2% 9 563 3% 11 565 Jan. 1, 2012–Mar. 31, 2012 2% 57 611 3% 59 613 Apr. 1, 2012–Jun. 30, 2012 2% 57 611 3% 59 613 Jul. 1, 2012–Sep. 30, 2012 2% 57 611 3% 59 613 Oct. 1, 2012–Dec. 31, 2012 2% 57 611 3% 59 613 Jan. 1, 2013–Mar. 31, 2013 2% 9 563 3% 11 565 Apr. 1, 2013–Jun. 30, 2013 2% 9 563 3% 11 565 Jul. 1, 2013–Sep. 30, 2013 2% 9 563 3% 11 565 Oct. 1, 2013–Dec. 31, 2013 2% 9 563 3% 11 565 Jan. 1, 2014–Mar. 31, 2014 2% 9 563 3% 11 565 Apr. 1, 2014–Jun. 30, 2014 2% 9 563 3% 11 565 Jul. 1, 2014–Sep. 30, 2014 2% 9 563 3% 11 565 Oct. 1, 2014–Dec. 31, 2014 2% 9 563 3% 11 565 Jan. 1, 2015–Mar. 31, 2015 2% 9 563 3% 11 565 Apr. 1, 2015–Jun. 30, 2015 2% 9 563 3% 11 565 Jul. 1, 2015–Sep. 30, 2015 2% 9 563 3% 11 565 Oct. 1, 2015–Dec. 31, 2015 2% 9 563 3% 11 565 Jan. 1, 2016–Mar. 31, 2016 2% 57 611 3% 59 613 Apr. 1, 2016–Jun. 30, 2016 3% 59 613 4% 61 615 Jul. 1, 2016–Sep. 30, 2016 3% 59 613 4% 61 615 Oct. 1, 2016–Dec. 31, 2016 3% 59 613 4% 61 615 Jan. 1, 2017–Mar. 31, 2017 3% 11 565 4% 13 567 Apr. 1, 2017–Jun. 30, 2017 3% 11 565 4% 13 567 Jul. 1, 2017–Sep. 30, 2017 3% 11 565 4% 13 567 Oct. 1, 2017–Dec. 31, 2017 3% 11 565 4% 13 567 Jan. 1, 2018–Mar. 31, 2018 3% 11 565 4% 13 567 Apr. 1, 2018–Jun. 30, 2018 4% 13 567 5% 15 569 Jul. 1, 2018–Sep. 30, 2018 4% 13 567 5% 15 569 Oct. 1, 2018–Dec. 31, 2018 4% 13 567 5% 15 569 Jan. 1, 2019–Mar. 31, 2019 5% 15 569 6% 17 571 Apr. 1, 2019–Jun. 30, 2019 5% 15 569 6% 17 571 Jul. 1, 2019–Sep. 30, 2019 4% 13 567 5% 15 569 Oct. 1, 2019–Dec. 31, 2019 4% 13 567 5% 15 569 Jan. 1, 2020–Mar. 31, 2020 4% 61 615 5% 63 617 Apr. 1, 2020–Jun. 30, 2020 4% 61 615 5% 63 617 Jul. 1, 2020–Sep. 30, 2020 2% 57 611 3% 59 613 Oct. 1, 2020–Dec. 31, 2020 2% 57 611 3% 59 613 Jan. 1, 2021–Mar. 31, 2021 2% 9 563 3% 11 565 Apr. 1, 2021–Jun. 30, 2021 2% 9 563 3% 11 565 Jul. 1, 2021–Sep. 30, 2021 2% 9 563 3% 11 565 Oct. 1, 2021–Dec. 31, 2021 2% 9 563 3% 11 565 Jan. 1, 2022–Mar. 31, 2022 2% 9 563 3% 11 565 Apr. 1, 2022–Jun. 30, 2022 3% 11 565 4% 13 567 Jul. 1, 2022–Sep. 30, 2022 4% 13 567 5% 15 569 Oct. 1, 2022–Dec. 31, 2022 5% 15 569 6% 17 571 Jan. 1, 2023–Mar. 31, 2023 6% 17 571 7% 19 573 Apr. 1, 2023–Jun. 30, 2023 6% 17 571 7% 19 573 Jul. 1, 2023–Sep. 30, 2023 6% 17 571 7% 19 573 Oct. 1, 2023–Dec. 31, 2023 7% 19 573 8% 21 575 TABLE OF INTEREST RATES FOR LARGE CORPORATE UNDERPAYMENTS FROM JANUARY 1, 1991 – PRESENT 1995-1 C.B. RATE TABLE PG Jan. 1, 1991–Mar. 31, 1991 13% 31 585 Apr. 1, 1991–Jun. 30, 1991 12% 29 583 Jul. 1, 1991–Sep. 30, 1991 12% 29 583 Oct. 1, 1991–Dec. 31, 1991 12% 29 583 Jan. 1, 1992–Mar. 31, 1992 11% 75 629 Apr. 1, 1992–Jun. 30, 1992 10% 73 627 Jul. 1, 1992–Sep. 30, 1992 10% 73 627 Oct. 1, 1992–Dec. 31, 1992 9% 71 625 Jan. 1, 1993–Mar. 31, 1993 9% 23 577 Apr. 1, 1993–Jun. 30, 1993 9% 23 577 Jul. 1, 1993–Sep. 30, 1993 9% 23 577 Oct. 1, 1993–Dec. 31, 1993 9% 23 577 Jan. 1, 1994–Mar. 31, 1994 9% 23 577 Apr. 1, 1994–Jun. 30, 1994 9% 23 577 Jul. 1, 1994–Sep. 30, 1994 10% 25 579 Oct. 1, 1994–Dec. 31, 1994 11% 27 581 Jan. 1, 1995–Jun. 30, 1995 11% 27 581 Apr. 1, 1995–Jun. 30, 1995 12% 29 583 Jul. 1, 1995–Sep. 30, 1995 11% 27 581 Oct. 1, 1995–Dec. 31, 1995 11% 27 581 Jan. 1, 1996–Mar. 31, 1996 11% 75 629 Apr. 1, 1996–Jun. 30, 1996 10% 73 627 Jul. 1, 1996–Sep. 30, 1996 11% 75 629 Oct. 1, 1996–Dec. 31, 1996 11% 75 629 Jan. 1, 1997–Mar. 31, 1997 11% 27 581 Apr. 1, 1997–Jun. 30, 1997 11% 27 581 Jul. 1, 1997–Sep. 30, 1997 11% 27 581 Oct. 1, 1997–Dec. 31, 1997 11% 27 581 Jan. 1, 1998–Mar. 31, 1998 11% 27 581 Apr. 1, 1998–Jun. 30, 1998 10% 25 579 Jul. 1, 1998–Sep. 30, 1998 10% 25 579 Oct. 1, 1998–Dec. 31, 1998 10% 25 579 Jan. 1, 1999–Mar. 31, 1999 9% 23 577 Apr. 1, 1999–Jun. 30, 1999 10% 25 579 Jul. 1, 1999–Sep. 30, 1999 10% 25 579 Oct. 1, 1999–Dec. 31, 1999 10% 25 579 Jan. 1, 2000–Mar. 31, 2000 10% 73 627 Apr. 1, 2000–Jun. 30, 2000 11% 75 629 Jul. 1, 2000–Sep. 30, 2000 11% 75 629 Oct. 1, 2000–Dec. 31, 2000 11% 75 629 Jan. 1, 2001–Mar. 31, 2001 11% 27 581 Apr. 1, 2001–Jun. 30, 2001 10% 25 579 Jul. 1, 2001–Sep. 30, 2001 9% 23 577 Oct. 1, 2001–Dec. 31, 2001 9% 23 577 Jan. 1, 2002–Mar. 31, 2002 8% 21 575 Apr. 1, 2002–Sep. 30, 2002 8% 21 575 Jul. 1, 2002–Sep. 30, 2002 8% 21 575 Oct. 1, 2002–Dec. 31, 2002 8% 21 575 Jan. 1, 2003–Mar. 31, 2003 7% 19 573 Apr. 1, 2003–Jun. 30, 2003 7% 19 573 Jul. 1, 2003–Sep. 30, 2003 7% 19 573 Oct. 1, 2003–Dec. 31, 2003 6% 17 571 Jan. 1, 2004–Mar. 31, 2004 6% 65 619 Apr. 1, 2004–Jun. 30, 2004 7% 67 621 Jul. 1, 2004–Sep. 30, 2004 6% 65 619 Oct. 1, 2004–Dec. 31, 2004 7% 67 621 Jan. 1, 2005–Mar. 31, 2005 7% 19 573 Apr. 1, 2005–Jun. 30, 2005 8% 21 575 Jul. 1, 2005–Sep. 30, 2005 8% 21 575 Oct. 1, 2005–Dec. 31, 2005 9% 23 577 Jan. 1, 2006–Mar. 31, 2006 9% 23 577 Apr. 1, 2006–Jun. 30, 2006 9% 23 577 Jul. 1, 2006–Sep. 30, 2006 10% 25 579 Oct. 1, 2006–Dec. 31, 2006 10% 25 579 Jan. 1, 2007–Mar. 31, 2007 10% 25 579 Apr. 1, 2007–Jun. 30, 2007 10% 25 579 Jul. 1, 2007–Sep. 30, 2007 10% 25 579 Oct. 1, 2007–Dec. 31, 2007 10% 25 579 Jan. 1, 2008–Mar. 31, 2008 9% 71 625 Apr. 1, 2008–Sep. 30, 2008 8% 69 623 Jul. 1, 2008–Sep. 30, 2008 7% 67 621 Oct. 1, 2008–Dec. 31, 2008 8% 69 623 Jan. 1, 2009–Mar. 31, 2009 7% 19 573 Apr. 1, 2009–Jun. 30, 2009 6% 17 571 Jul. 1, 2009–Sep. 30, 2009 6% 17 571 Oct. 1, 2009–Dec. 31, 2009 6% 17 571 Jan. 1, 2010–Mar. 31, 2010 6% 17 571 Apr. 1, 2010–Jun. 30, 2010 6% 17 571 Jul. 1, 2010–Sep. 30, 2010 6% 17 571 Oct. 1, 2010–Dec. 31, 2010 6% 17 571 Jan. 1, 2011–Mar. 31, 2011 5% 15 569 Apr. 1, 2011–Jun. 30, 2011 6% 17 571 Jul. 1, 2011–Sep. 30, 2011 6% 17 571 Oct. 1, 2011–Dec. 31, 2011 5% 15 569 Jan. 1, 2012–Mar. 31, 2012 5% 63 617 Apr. 1, 2012–Jun. 30, 2012 5% 63 617 Jul. 1, 2012–Sep. 30, 2012 5% 63 617 Oct. 1, 2012–Dec. 31, 2012 5% 63 617 Jan. 1, 2013–Mar. 31, 2013 5% 15 569 Apr. 1, 2013–Jun. 30, 2013 5% 15 569 Jul. 1, 2013–Sep. 30, 2013 5% 15 569 Oct. 1, 2013–Dec. 31, 2013 5% 15 569 Jan. 1, 2014–Mar. 31, 2014 5% 15 569 Apr. 1, 2014–Jun. 30, 2014 5% 15 569 Jul. 1, 2014–Sep. 30, 2014 5% 15 569 Oct. 1, 2014–Dec. 31, 2014 5% 15 569 Jan. 1, 2015–Mar. 31, 2015 5% 15 569 Apr. 1, 2015–Jun. 30, 2015 5% 15 569 Jul. 1, 2015–Sep. 30, 2015 5% 15 569 Oct. 1, 2015–Dec. 31, 2015 5% 15 569 Jan. 1, 2016–Mar. 31, 2016 5% 63 617 Apr. 1, 2016–Jun. 30, 2016 6% 65 619 Jul. 1, 2016–Sep. 30, 2016 6% 65 619 Oct. 1, 2016–Dec. 31, 2016 6% 65 619 Jan. 1, 2017–Mar. 31, 2017 6% 17 571 Apr. 1, 2017–Jun. 30, 2017 6% 17 571 Jul. 1, 2017–Sep. 30, 2017 6% 17 571 Oct. 1, 2017–Dec. 31, 2017 6% 17 571 Jan. 1, 2018–Mar. 31, 2018 6% 17 571 Apr. 1, 2018–Jun. 30, 2018 7% 19 573 Jul. 1, 2018–Sep. 30, 2018 7% 19 573 Oct. 1, 2018–Dec. 31, 2018 7% 19 573 Jan. 1, 2019–Mar. 31, 2019 8% 21 575 Apr. 1, 2019–Jun. 30, 2019 8% 21 575 Jul. 1, 2019–Sep. 30, 2019 7% 19 573 Oct. 1, 2019–Dec. 31, 2019 7% 19 573 Jan. 1, 2020–Mar. 31, 2020 7% 67 621 Apr. 1, 2020–Jun. 30, 2020 7% 67 621 Jul. 1, 2020–Sep. 30, 2020 5% 63 617 Oct. 1, 2020–Dec. 31, 2020 5% 63 617 Jan. 1, 2021–Mar. 31, 2021 5% 15 569 Apr. 1, 2021–Jun. 30, 2021 5% 15 569 Jul. 1, 2021–Sep. 30, 2021 5% 15 569 Oct. 1, 2021–Dec. 31, 2021 5% 15 569 Jan. 1, 2022–Mar. 31, 2022 5% 15 569 Apr. 1, 2022–Jun. 30, 2022 6% 17 571 Jul. 1, 2022–Sep. 30, 2022 7% 19 573 Oct. 1, 2022–Dec. 31, 2022 8% 21 575 Jan. 1, 2023–Mar. 31, 2023 9% 23 577 Apr. 1, 2023–Jun. 30, 2023 9% 23 577 Jul. 1, 2023–Sep. 30, 2023 9% 23 577 Oct. 1, 2023–Dec. 31, 2023 10% 25 579 TABLE OF INTEREST RATES FOR CORPORATE OVERPAYMENTS EXCEEDING $10,000 FROM JANUARY 1, 1995 – PRESENT 1995-1 C.B. RATE TABLE PG Jan. 1, 1995–Mar. 31, 1995 6.5% 18 572 Apr. 1, 1995–Jun. 30, 1995 7.5% 20 574 Jul. 1, 1995–Sep. 30, 1995 6.5% 18 572 Oct. 1, 1995–Dec. 31, 1995 6.5% 18 572 Jan. 1, 1996–Mar. 31, 1996 6.5% 66 620 Apr. 1, 1996–Jun. 30, 1996 5.5% 64 618 Jul. 1, 1996–Sep. 30, 1996 6.5% 66 620 Oct. 1, 1996–Dec. 31, 1996 6.5% 66 620 Jan. 1, 1997–Mar. 31, 1997 6.5% 18 572 Apr. 1, 1997–Jun. 30, 1997 6.5% 18 572 Jul. 1, 1997–Sep. 30, 1997 6.5% 18 572 Oct. 1, 1997–Dec. 31, 1997 6.5% 18 572 Jan. 1, 1998–Mar. 31, 1998 6.5% 18 572 Apr. 1, 1998–Jun. 30, 1998 5.5% 16 570 Jul. 1, 1998–Sep. 30, 1998 5.5% 16 570 Oct. 1, 1998–Dec. 31, 1998 5.5% 16 570 Jan. 1, 1999–Mar. 31, 1999 4.5% 14 568 Apr. 1, 1999–Sep. 30, 1999 5.5% 16 570 Jul. 1, 1999–Sep. 30, 1999 5.5% 16 570 Oct. 1, 1999–Dec. 31, 1999 5.5% 16 570 Jan. 1, 2000–Mar. 31, 2000 5.5% 64 618 Apr. 1, 2000–Jun. 30, 2000 6.5% 66 620 Jul. 1, 2000–Sep. 30, 2000 6.5% 66 620 Oct. 1, 2000–Dec. 31, 2000 6.5% 66 620 Jan. 1, 2001–Mar. 31, 2001 6.5% 18 572 Apr. 1, 2001–Jun. 30, 2001 5.5% 16 570 Jul. 1, 2001–Sep. 30, 2001 4.5% 14 568 Oct. 1, 2001–Dec. 31, 2001 4.5% 14 568 Jan. 1, 2002–Mar. 31, 2002 3.5% 12 566 Apr. 1, 2002–Jun. 30, 2002 3.5% 12 566 Jul. 1, 2002–Sep. 30, 2002 3.5% 12 566 Oct. 1, 2002–Dec. 31, 2002 3.5% 12 566 Jan. 1, 2003–Mar. 31, 2003 2.5% 10 564 Apr. 1, 2003–Jun. 30, 2003 2.5% 10 564 Jul. 1, 2003–Sep. 30, 2003 2.5% 10 564 Oct. 1, 2003–Dec. 31, 2003 1.5% 8 562 Jan. 1, 2004–Mar. 31, 2004 1.5% 56 610 Apr. 1, 2004–Jun. 30, 2004 2.5% 58 612 Jul. 1, 2004–Sep. 30, 2004 1.5% 56 610 Oct. 1, 2004–Dec. 31, 2004 2.5% 58 612 Jan. 1, 2005–Mar. 31, 2005 2.5% 10 564 Apr. 1, 2005–Jun. 30, 2005 3.5% 12 566 Jul. 1, 2005–Sep. 30, 2005 3.5% 12 566 Oct. 1, 2005–Dec. 31, 2005 4.5% 14 568 Jan. 1, 2006–Mar. 31, 2006 4.5% 14 568 Apr. 1, 2006–Jun. 30, 2006 4.5% 14 568 Jul. 1, 2006–Sep. 30, 2006 5.5% 16 570 Oct. 1, 2006–Dec. 31, 2006 5.5% 16 570 Jan. 1, 2007–Mar. 31, 2007 5.5% 16 570 Apr. 1, 2007–Jun. 30, 2007 5.5% 16 570 Jul. 1, 2007–Sep. 30, 2007 5.5% 16 570 Oct. 1, 2007–Dec. 31, 2007 5.5% 16 570 Jan. 1, 2008–Mar. 31, 2008 4.5% 62 616 Apr. 1, 2008–Jun. 30, 2008 3.5% 60 614 Jul. 1, 2008–Sep. 30, 2008 2.5% 58 612 Oct. 1, 2008–Dec. 31, 2008 3.5% 60 614 Jan. 1, 2009–Mar. 31, 2009 2.5% 10 564 Apr. 1, 2009–Jun. 30, 2009 1.5% 8 562 Jul. 1, 2009–Sep. 30, 2009 1.5% 8 562 Oct. 1, 2009–Dec. 31, 2009 1.5% 8 562 Jan. 1, 2010–Mar. 31, 2010 1.5% 8 562 Apr. 1, 2010–Jun. 30, 2010 1.5% 8 562 Jul. 1, 2010–Sep. 30, 2010 1.5% 8 562 Oct. 1, 2010–Dec. 31, 2010 1.5% 8 562 Jan. 1, 2011–Mar. 31, 2011 0.5%* Apr. 1, 2011–Jun. 30, 2011 1.5% 8 562 Jul. 1, 2011–Sep. 30, 2011 1.5% 8 562 Oct. 1, 2011–Dec. 31, 2011 0.5%* Jan. 1, 2012–Mar. 31, 2012 0.5%* Apr. 1, 2012–Jun. 30, 2012 0.5%* Jul. 1, 2012–Sep. 30, 2012 0.5%* Oct. 1, 2012–Dec. 31, 2012 0.5%* Jan. 1, 2013–Mar. 31, 2013 0.5%* Apr. 1, 2013–Jun. 30, 2013 0.5%* Jul. 1, 2013–Sep. 30, 2013 0.5%* Oct. 1, 2013–Dec. 31, 2013 0.5%* Jan. 1, 2014–Mar. 31, 2014 0.5%* Apr. 1, 2014–Jun. 30, 2014 0.5%* Jul. 1, 2014–Sep. 30, 2014 0.5%* Oct. 1, 2014–Dec. 31, 2014 0.5%* Jan. 1, 2015–Mar. 31, 2015 0.5%* Apr. 1, 2015–Jun. 30, 2015 0.5%* Jul. 1, 2015–Sep. 30, 2015 0.5%* Oct. 1, 2015–Dec. 31, 2015 0.5%* Jan. 1, 2016–Mar. 31, 2016 0.5%* Apr. 1, 2016–Jun. 30, 2016 1.5% 56 610 Jul. 1, 2016–Sep. 30, 2016 1.5% 56 610 Oct. 1, 2016–Dec. 31, 2016 1.5% 56 610 Jan. 1, 2017–Mar. 31, 2017 1.5% 8 562 Apr. 1, 2017–Jun. 30, 2017 1.5% 8 562 Jul. 1, 2017–Sep. 30, 2017 1.5% 8 562 Oct. 1, 2017–Dec. 31, 2017 1.5% 8 562 Jan. 1, 2018–Mar. 31, 2018 1.5% 8 562 Apr. 1, 2018–Jun. 30, 2018 2.5% 10 564 Jul. 1, 2018–Sep. 30, 2018 2.5% 10 564 Oct. 1, 2018–Dec. 31, 2018 2.5% 10 564 Jan. 1, 2019–Mar. 31, 2019 3.5% 12 566 Apr. 1, 2019–Jun. 30, 2019 3.5% 12 566 Jul. 1, 2019–Sep. 30, 2019 2.5% 10 564 Oct. 1, 2019–Dec. 31, 2019 2.5% 10 564 Jan. 1, 2020–Mar. 31, 2020 2.5% 58 612 Apr. 1, 2020–Jun. 30, 2020 2.5% 58 612 Jul. 1, 2020–Sep. 30, 2020 0.5%* Oct. 1, 2020–Dec. 31, 2020 0.5%* Jan. 1, 2021–Mar. 31, 2021 0.5%* Apr. 1, 2021–Jun. 30, 2021 0.5%* Jul. 1, 2021–Sep. 30, 2021 0.5%* Oct. 1, 2021–Dec. 31, 2021 0.5%* Jan. 1, 2022–Mar. 31, 2022 0.5%* Apr. 1, 2022–Jun. 30, 2022 1.5% 8 562 Jul. 1, 2022–Sep. 30, 2022 2.5% 10 564 Oct. 1, 2022–Dec. 31, 2022 3.5% 12 566 Jan. 1, 2023–Mar. 31, 2023 4.5% 14 568 Apr. 1, 2023–Jun. 30, 2023 4.5% 14 568 Jul. 1, 2023–Sep. 30, 2023 4.5% 14 568 Oct. 1, 2023–Dec. 31, 2023 5.5% 16 570 * The asterisk reflects the interest factors for daily compound interest for annual rates of 0.5 percent published in Appendix A of this Revenue Ruling. Part III Guidance on Section 603 of the SECURE 2.0 Act with Respect to Catch-Up Contributions Notice 2023-62 I. PURPOSE This notice provides guidance with respect to section 603 of Division T of the Consolidated Appropriations Act, 2023, Pub. L. 117-328, 136 Stat. 4459 (2022), known as the SECURE 2.0 Act of 2022 (SECURE 2.0 Act). Among other changes, section 603 of the SECURE 2.0 Act requires that, in the case of certain eligible participants, catch-up contributions under section 414(v)(1) of the Internal Revenue Code (Code) must be designated as Roth contributions pursuant to an employee election. This notice is not intended to provide comprehensive guidance as to section 603 of the SECURE 2.0 Act, but rather is intended to provide guidance on particular issues to assist in the implementation of that section. This notice also announces a 2-year administrative transition period with respect to the requirement under section 603 of the SECURE 2.0 Act that catch-up contributions made on behalf of certain eligible participants be designated as Roth contributions. The Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) have been made aware of taxpayer concerns with being able to timely implement section 603 of the SECURE 2.0 Act. The administrative transition period described in this notice is intended to facilitate an orderly transition for compliance with that requirement. The Treasury Department and the IRS continue to work on implementation of section 603 of the SECURE 2.0 Act and intend to issue further guidance, as described in section V of this notice. The Treasury Department and the IRS invite comments on this notice and any other aspect of section 603 of the SECURE 2.0 Act. II. BACKGROUND Section 414(v)(1) of the Code provides that an applicable employer plan (as defined in section 414(v)(6)(A)) will not be treated as failing to meet any requirement of the Code solely because the plan permits an eligible participant (as defined in section 414(v)(5)) to make additional elective deferrals under section 414(v) (catch-up contributions) in any plan year. Section 414(v)(3)(A)(i) further provides that a catch-up contribution is not, with respect to the year in which the contribution is made, subject to any otherwise applicable limitation contained in section 401(a)(30) (that is, the limitation on the exclusion of elective deferrals from gross income under section 402(g)(1)(A)), 403(b) (including the requirement under section 403(b)(1)(E) that a contract purchased under a salary reduction agreement satisfy the requirements of section 401(a)(30)), or 457(b)(2) (determined without regard to section 457(b)(3)), among other provisions. Section 603(a) of the SECURE 2.0 Act amends section 414(v) of the Code to add section 414(v)(7). Section 414(v)(7)(A) generally provides that, in the case of an eligible participant whose wages (as defined in section 3121(a)) for the preceding calendar year from the employer sponsoring the plan exceed $145,000 (as adjusted under section 414(v)(7)(E)), section 414(v)(1) applies only if any catch-up contributions are designated Roth contributions (as defined in section 402A(c)(1)) made pursuant to an employee election. Section 414(v)(7)(B) provides that, in the case of an applicable employer plan with respect to which section 414(v)(7)(A) applies to any participant for a plan year, section 414(v)(1) does not apply to the plan unless the plan provides that any eligible participant may make catch-up contributions as designated Roth contributions. Thus, if a plan provides that an eligible participant who is subject to the requirements of section 414(v)(7)(A) may make catch-up contributions as designated Roth contributions, then all eligible participants in the plan must be permitted to make catch-up contributions as designated Roth contributions. Section 414(v)(7)(C) provides that section 414(v)(7)(A) does not apply in the case of an applicable employer plan described in section 414(v)(6)(A)(iv) (a SEP arrangement under section 408(k) or a SIMPLE IRA plan under section 408(p)). Thus, section 414(v)(7)(A) applies in the case of an applicable employer plan that is a qualified plan under section 401(a) (including a section 401(k) plan), a section 403(b) plan, or a section 457(b) plan maintained by an employer described in section 457(e)(1)(A) (an eligible governmental plan). Section 414(v)(7)(D) provides that the Secretary (the Secretary of the Treasury or the Secretary’s delegate) may provide by regulations that an eligible participant may elect to change the participant’s election to make catch-up contributions if the participant’s compensation is determined to exceed the limitation under section 414(v)(7)(A) after the election is made. Section 603(b) of the SECURE 2.0 Act includes conforming amendments with respect to section 603(a). Section 603(b)(1) of the SECURE 2.0 Act strikes section 402(g)(1)(C) of the Code. Prior to that amendment, section 402(g)(1)(C) provided that an eligible participant’s gross income does not include elective deferrals in excess of the applicable dollar amount under section 402(g)(1)(B)1 to the extent that the amount of those elective deferrals does not exceed the applicable dollar amount under section 414(v)(2)(B)(i)2 for the taxable year (without regard to the treatment of the elective deferrals by an applicable employer plan under section 414(v)). Section 603(b)(2) of the SECURE 2.0 Act amends section 457(e)(18)(A)(ii) of the Code to replace “the applicable dollar amount for the taxable year determined under section 414(v)(2)(B)(i), or” with “the lesser of any designated Roth contributions made by the participant to the plan or the applicable dollar amount for the taxable year determined under section 414(v)(2)(B)(i), or”. Section 603(c) of the SECURE 2.0 Act provides that the amendments made by section 603 apply to taxable years beginning after December 31, 2023. III. GUIDANCE ON SECTION 603 OF THE SECURE 2.0 ACT A. Catch-Up Contributions for Taxable Years Beginning After December 31, 2023 Pursuant to section 414(v)(1), an applicable employer plan is not treated as failing to meet any requirement of the Code solely because the plan permits an eligible participant to make catch-up contributions under section 414(v) in any plan year. Accordingly, for taxable years beginning after December 31, 2023, an applicable employer plan may permit an eligible participant to make elective deferrals under the plan that exceed the applicable dollar amount under section 402(g)(1)(B) (or deferrals under the plan that exceed the applicable dollar amount under section 457(e)(15)) if those contributions in excess of the applicable dollar amount satisfy the requirements under section 414(v) for catch-up contributions. The elimination of section 402(g)(1)(C) of the Code under section 603(b)(1) of the SECURE 2.0 Act does not change this result for taxable years beginning after December 31, 2023.3 If an eligible participant is subject to the requirements of section 414(v)(7)(A), then any catch-up contributions that are made to the plan on behalf of the participant must be designated as Roth contributions. However, if an eligible participant is not subject to the requirements of section 414(v)(7)(A), then any catch-up contributions that are made to the plan on behalf of the participant are not required to be designated as Roth contributions. In that case, any catch-up contributions under section 414(v) that are made to the plan on behalf of the participant that are not designated as Roth contributions are not includible in the participant’s gross income under section 402(g)(1)(A) (and do not exceed the limitation in section 457(b)(2)) because, in accordance with section 414(v)(3)(A)(i), the limitations on elective deferrals under sections 401(a)(30) and 403(b) (and the limitation on deferrals under section 457(b)(2)) do not apply to those catch-up contributions. B. Elective Deferrals Made to Two or More Plans If an individual makes elective deferrals to two or more plans during a taxable year (including plans maintained by unrelated employers), then, under section 402(g)(1)(A), those elective deferrals are aggregated for purposes of determining whether the amount of the individual’s elective deferrals exceeds the applicable dollar amount under section 402(g)(1)(B). Similarly, an eligible participant’s elective deferrals made to two or more plans during a taxable year are also aggregated for purposes of applying the limitation on the amount of catch-up contributions under section 414(v)(2). The elimination of section 402(g)(1)(C) of the Code under section 603(b)(1) of the SECURE 2.0 Act does not change this result for taxable years beginning after December 31, 2023.4 IV. ADMINISTRATIVE TRANSITION PERIOD Under section 603(c) of the SECURE 2.0 Act, the provisions of section 603 apply to taxable years beginning after December 31, 2023. However, the first two taxable years beginning after December 31, 2023, will be regarded as an administrative transition period with respect to the requirement under section 414(v)(7)(A) of the Code that catch-up contributions made on behalf of certain eligible participants be designated as Roth contributions. Specifically, until taxable years beginning after December 31, 2025, (1) those catch-up contributions will be treated as satisfying the requirements of section 414(v)(7)(A), even if the contributions are not designated as Roth contributions, and (2) a plan that does not provide for designated Roth contributions will be treated as satisfying the requirements of section 414(v)(7)(B). V. GUIDANCE UNDER CONSIDERATION REGARDING SECTION 603 OF THE SECURE 2.0 ACT As noted in section I of this notice, the Treasury Department and the IRS intend to issue further guidance to assist taxpayers with the implementation of section 603 of the SECURE 2.0 Act. The guidance that the Treasury Department and the IRS anticipate issuing with respect to section 603 of the SECURE 2.0 Act, after taking into account any comments received, is expected to include: Guidance clarifying that section 414(v)(7)(A) of the Code would not apply in the case of an eligible participant who does not have wages as defined in section 3121(a) (that is, wages for purposes of the Federal Insurance Contributions Act (FICA)) for the preceding calendar year from the employer sponsoring the plan. For example, under that guidance, if an eligible participant did not have any wages for purposes of FICA for the preceding calendar year because the individual was a partner (or other self-employed individual) receiving self-employment income or because the individual was a State or local government employee whose services were excluded from the definition of employment under section 3121(b)(7), then the eligible participant would not be subject to the requirements of section 414(v)(7)(A). Guidance providing that, in the case of an eligible participant who is subject to section 414(v)(7)(A), the plan administrator and the employer would be permitted to treat an election by the participant to make catch-up contributions on a pre-tax basis as an election by the participant to make catch-up contributions that are designated Roth contributions.5 Guidance addressing an applicable employer plan that is maintained by more than one employer (including a multiemployer plan). The guidance would provide that an eligible participant’s wages for the preceding calendar year from one participating employer would not be aggregated with the wages from another participating employer for purposes of determining whether the participant’s wages for that year exceed $145,000 (as adjusted). For example, under that guidance, if an eligible participant’s wages for a calendar year were: (1) $100,000 from one participating employer; and (2) $125,0000 from another participating employer, then the participant’s catch-up contributions under the plan for the next year would not be subject to section 414(v)(7)(A) (even if the participant’s aggregate wages from the participating employers for the prior calendar year exceed $145,000, as adjusted). The guidance also would provide that, even if an eligible participant is subject to section 414(v)(7)(A) because the participant’s wages from one participating employer in the plan for the preceding calendar year exceed $145,000 (as adjusted), elective deferrals made on behalf of the participant by another participating employer that are catch-up contributions would not be required to be designated as Roth contributions unless the participant’s wages for the preceding calendar year from that other employer also exceed that amount. VI. REQUEST FOR COMMENTS The Treasury Department and the IRS invite comments and suggestions regarding the matters discussed in this notice and any other aspect of section 603 of the SECURE 2.0 Act. In particular, the Treasury Department and the IRS request comments on section V of this notice. In addition, comments are requested with respect to whether the intended guidance should address a plan that permits eligible participants to make catch-up contributions under section 414(v) but does not include a qualified Roth contribution program. In particular, should the guidance provide that such a plan will not fail to satisfy section 414(v)(4) (which provides that all eligible participants must be allowed to make the same election with respect to catch-up contributions) or section 414(v)(7)(B), merely because the plan provides that eligible participants who are not subject to section 414(v)(7)(A) are permitted to make catch-up contributions while eligible participants who are subject to section 414(v)(7)(A) are prohibited from making catch-up contributions.6 Comments should be submitted in writing on or before October 24, 2023, and should include a reference to Notice 2023-62. Comments may be submitted electronically via the Federal eRulemaking Portal at www.regulations.gov (type “IRS-2023-0039” in the search field on the Regulations.gov home page to find this notice and submit comments). Alternatively, comments may be submitted by mail to: Internal Revenue Service, Attn: CC:PA:LPD:PR (Notice 2023-62), Room 5203, P.O. Box 7604, Ben Franklin Station, Washington, D.C. 20044. The Treasury Department and the IRS will publish for public availability any comment submitted electronically or on paper to its public docket. VII. DRAFTING INFORMATION The principal author of this notice is the Office of Associate Chief Counsel (Employee Benefits, Exempt Organizations, and Employment Taxes). However, other personnel from the Treasury Department and the IRS participated in the development of this guidance. For further information regarding this notice, contact Kara M. Soderstrom at (202) 317-6799 (not a toll-free number). 1 The applicable dollar amount under section 402(g)(1)(B) is $22,500 for 2023. 2 The applicable dollar amount under section 414(v)(2)(B)(i) is $7,500 for 2023. 3 Proposed regulations, which were issued before the enactment in 2002 of section 402(g)(1)(C), permitted catch-up contributions in excess of the applicable dollar amount under section 402(g)(1)(B) or 457(e)(15) for purposes of section 414(v). See proposed § 1.414(v)-1(a)(1) and (b)(1)(i), 66 FR 53555 (the 2001 NPRM). 4 Proposed § 1.414(v)-1(g) of the 2001 NPRM also provided for aggregation of an eligible participant’s elective deferrals made to two or more plans for purposes of section 414(v)(2). 5 Under section 402A(c)(1)(B), an employee may designate elective deferrals as Roth contributions at such time and in such manner as the Secretary may prescribe. Sections 1.401(k)-1(f)(1)(i) and 1.403(b)-3(c)(1) provide that a designation of an elective contribution as a Roth contribution must be made at the time of the cash or deferred election, and a similar rule applies to an eligible governmental plan. 6 Under section 402A(a), an applicable retirement plan may, but is not required to, include a qualified Roth contribution program. However, in the case of an eligible participant who is subject to section 414(v)(7)(A), the catch-up contribution provisions of section 414(v)(1) apply only if any catch-up contributions are designated as Roth contributions. Accordingly, if an applicable employer plan does not include a qualified Roth contribution program, then an eligible participant who is subject to section 414(v)(7)(A) would be prohibited from making catch-up contributions under the plan. Rev. Proc. 2023-29 SECTION 1. PURPOSE This revenue procedure provides the applicable percentage table (Applicable Percentage Table) in § 36B(b)(3)(A) of the Internal Revenue Code (Code) for taxable years beginning in calendar year 2024.1 This table is used to calculate an individual’s premium tax credit under § 36B. This revenue procedure also provides the indexing adjustment for the required contribution percentage (Required Contribution Percentage) in § 36B(c)(2)(C)(i)(II) for plan years beginning in calendar year 2024. This percentage is used to determine whether an individual is eligible for affordable employer-sponsored minimum essential coverage under § 36B. SECTION 2. ADJUSTED ITEMS .01 Applicable Percentage Table for 2024. For taxable years beginning in calendar year 2024, the Applicable Percentage Table for purposes of § 36B(b)(3)(A) and § 1.36B-3(g) of the Income Tax Regulations is: Household income percentage of Federal poverty line: Initial percentage Final percentage Less than 150% 0.00% 0.00% At least 150% but less than 200% 0.00% 2.00% At least 200% but less than 250% 2.00% 4.00% At least 250% but less than 300% 4.00% 6.00% At least 300% but less than 400% 6.00% 8.50% At least 400% and higher 8.50% 8.50% .02 Required Contribution Percentage for 2024. (1) Section 9661 of the ARPA and § 12001(a) of the IRA did not amend the rules under § 36B(c)(2)(C)(iv) relating to the Required Contribution Percentage, including the rules relating to the indexing of the Required Contribution Percentage. See § 36B(b)(3)(A)(iii)(I). The Required Contribution Percentage for plan years beginning in calendar year 2024 is indexed based on the rates of premium growth relative to the rates of income growth in guidance issued by the Department of Health and Human Services (HHS).2 In addition, the additional adjustment provided in § 36B(b)(3)(A)(ii)(II) is not required for plan years beginning in 2024 because the Department of the Treasury and the Internal Revenue Service have determined that the failsafe exception described in § 36B(b)(3)(A)(ii)(III) applies for plan years beginning in calendar year 2024. (2) For plan years beginning in calendar year 2024, the Required Contribution Percentage for purposes of § 36B(c)(2)(C)(i)(II) and § 1.36B-2(c)(3)(v)(C) is 8.39%. SECTION 3. EFFECT ON OTHER DOCUMENTS Rev. Proc. 2014-37, 2014-2 C.B. 363, is supplemented. SECTION 4. EFFECTIVE DATE This revenue procedure is effective for taxable years and plan years beginning in calendar year 2024. SECTION 5. DRAFTING INFORMATION The principal author of this revenue procedure is Clara L. Raymond of the Office of Associate Chief Counsel (Income Tax and Accounting). For further information regarding this revenue procedure, contact Ms. Raymond at (202) 317-4718 (not a toll-free number). 1 Section 9661 of the American Rescue Plan Act of 2021, Public Law 117-2, 135 Stat. 4, 182 (2021) (ARPA), added § 36B(b)(3)(A)(iii) to the Code to provide an Applicable Percentage Table that applies for taxable years beginning in calendar years 2021 and 2022. Section 12001(a) of the Inflation Reduction Act of 2022, Public Law 117-169, 136 Stat. 1818, 1905 (2022) (IRA) extended to taxable years beginning in calendar years 2023-2025 the Applicable Percentage Table enacted by the ARPA. Section 36B(b)(3)(A)(iii) also suspends indexing of the Applicable Percentage Table for taxable years 2021-2025. 2 The rate of premium growth and the rate of income growth for calendar year 2024 are calculated using the NHEA Projections, 2021-2030, available at: https://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/NationalHealthExpendData/NationalHealthAccountsProjected, which reflect the most recent projections, and the methodology used to calculate the same rates of growth in the Premium Adjustment Percentage guidance for the 2024 benefit year published by the Center for Medicare and Medicaid Services on December 12, 2022, available at: https://www.cms.gov/files/document/2024-papi-parameters-guidance-2022-12-12.pdf. Part IV Deletions From Cumulative List of Organizations, Contributions to Which are Deductible Under Section 170 of the Code Announcement 2023-25 Table of Contents The Internal Revenue Service has revoked its determination that the organizations listed below qualify as organizations described in sections 501(c)(3) and 170(c)(2) of the Internal Revenue Code of 1986. Generally, the IRS will not disallow deductions for contributions made to a listed organization on or before the date of announcement in the Internal Revenue Bulletin that an organization no longer qualifies. However, the IRS is not precluded from disallowing a deduction for any contributions made after an organization ceases to qualify under section 170(c)(2) if the organization has not timely filed a suit for declaratory judgment under section 7428 and if the contributor (1) had knowledge of the revocation of the ruling or determination letter, (2) was aware that such revocation was imminent, or (3) was in part responsible for or was aware of the activities or omissions of the organization that brought about this revocation. If on the other hand a suit for declaratory judgment has been timely filed, contributions from individuals and organizations described in section 170(c)(2) that are otherwise allowable will continue to be deductible. Protection under section 7428(c) would begin on September 11, 2023 and would end on the date the court first determines the organization is not described in section 170(c)(2) as more particularly set for in section 7428(c)(1). For individual contributors, the maximum deduction protected is $1,000, with a husband and wife treated as one contributor. This benefit is not extended to any individual, in whole or in part, for the acts or omissions of the organization that were the basis for revocation. NAME OF ORGANIZATION Effective Date of Revocation LOCATION UNITED WAY OF SAN DIEGO 03/26/2019 STATEN ISLAND, NY Deletions From Cumulative List of Organizations, Contributions to Which are Deductible Under Section 170 of the Code Announcement 2023-26 The Internal Revenue Service has revoked its determination that the organizations listed below qualify as organizations described in sections 501(c)(3) and 170(c)(2) of the Internal Revenue Code of 1986. Generally, the IRS will not disallow deductions for contributions made to a listed organization on or before the date of announcement in the Internal Revenue Bulletin that an organization no longer qualifies. However, the IRS is not precluded from disallowing a deduction for any contributions made after an organization ceases to qualify under section 170(c)(2) if the organization has not timely filed a suit for declaratory judgment under section 7428 and if the contributor (1) had knowledge of the revocation of the ruling or determination letter, (2) was aware that such revocation was imminent, or (3) was in part responsible for or was aware of the activities or omissions of the organization that brought about this revocation. If on the other hand a suit for declaratory judgment has been timely filed, contributions from individuals and organizations described in section 170(c)(2) that are otherwise allowable will continue to be deductible. Protection under section 7428(c) would begin on September 11, 2023 and would end on the date the court first determines the organization is not described in section 170(c)(2) as more particularly set for in section 7428(c)(1). For individual contributors, the maximum deduction protected is $1,000, with a husband and wife treated as one contributor. This benefit is not extended to any individual, in whole or in part, for the acts or omissions of the organization that were the basis for revocation. NAME OF ORGANIZATION Effective Date of Revocation LOCATION HOME OF CHRIST N/A CHURCH SAN JOSE, CA GREEN GATES ANIMAL SANCTUARY 01/01/2020 ROWE, NM HAITIAN SALESIEN ALUMNI ASSOCIATES 01/01/2018 FLEETWOOD, NY SUPERIOR TRAP AND GUN CLUB LTD 01/01/2019 SUPERIOR, WI ARTS INSTITUTE INTERNATIONAL LLC 01/01/2020 HOUSTON, TX Correction to Revenue Procedure 2023-27, I.R.B. 2023-35 Announcement 2023-28 This document contains corrections to Revenue Procedure 2023-27, as published on Monday, August 28, 2023 (I.R.B. 2023-35, 655). In particular, this announcement corrects the following administrative items. Correction 1: In Section 10.01, In general, Section 10.02, Documentation and attestation requirements, and Section 12.01, In general, a citation incorrectly appears as §1.48-1(k). The correct citation is §1.48(e)-1(k). Correction 2: In Section 10.02(4), a citation incorrectly appears as §1.48(e)-1(e)(4). The correct citation is §1.48(e)-1(e)(6). Correction 3: In Section 12.02, Reduction in Increased Energy Percentage, a citation incorrectly appears as §48(e)(2)(B). The correct citation is §48(e)(1)(B). Correction 4: In Section 13.02, Additional Selection Criteria, a citation incorrectly appears as §1.48(e)-1(m)(v). The correct citation is §1.48(e)-1(m)(5). Definition of Terms Revenue rulings and revenue procedures (hereinafter referred to as “rulings”) that have an effect on previous rulings use the following defined terms to describe the effect: Amplified describes a situation where no change is being made in a prior published position, but the prior position is being extended to apply to a variation of the fact situation set forth therein. Thus, if an earlier ruling held that a principle applied to A, and the new ruling holds that the same principle also applies to B, the earlier ruling is amplified. (Compare with modified, below). Clarified is used in those instances where the language in a prior ruling is being made clear because the language has caused, or may cause, some confusion. It is not used where a position in a prior ruling is being changed. Distinguished describes a situation where a ruling mentions a previously published ruling and points out an essential difference between them. Modified is used where the substance of a previously published position is being changed. Thus, if a prior ruling held that a principle applied to A but not to B, and the new ruling holds that it applies to both A and B, the prior ruling is modified because it corrects a published position. (Compare with amplified and clarified, above). Obsoleted describes a previously published ruling that is not considered determinative with respect to future transactions. This term is most commonly used in a ruling that lists previously published rulings that are obsoleted because of changes in laws or regulations. A ruling may also be obsoleted because the substance has been included in regulations subsequently adopted. Revoked describes situations where the position in the previously published ruling is not correct and the correct position is being stated in a new ruling. Superseded describes a situation where the new ruling does nothing more than restate the substance and situation of a previously published ruling (or rulings). Thus, the term is used to republish under the 1986 Code and regulations the same position published under the 1939 Code and regulations. The term is also used when it is desired to republish in a single ruling a series of situations, names, etc., that were previously published over a period of time in separate rulings. If the new ruling does more than restate the substance of a prior ruling, a combination of terms is used. For example, modified and superseded describes a situation where the substance of a previously published ruling is being changed in part and is continued without change in part and it is desired to restate the valid portion of the previously published ruling in a new ruling that is self contained. In this case, the previously published ruling is first modified and then, as modified, is superseded. Supplemented is used in situations in which a list, such as a list of the names of countries, is published in a ruling and that list is expanded by adding further names in subsequent rulings. After the original ruling has been supplemented several times, a new ruling may be published that includes the list in the original ruling and the additions, and supersedes all prior rulings in the series. Suspended is used in rare situations to show that the previous published rulings will not be applied pending some future action such as the issuance of new or amended regulations, the outcome of cases in litigation, or the outcome of a Service study. Abbreviations The following abbreviations in current use and formerly used will appear in material published in the Bulletin. A—Individual. Acq.—Acquiescence. B—Individual. BE—Beneficiary. BK—Bank. B.T.A.—Board of Tax Appeals. C—Individual. C.B.—Cumulative Bulletin. CFR—Code of Federal Regulations. CI—City. COOP—Cooperative. Ct.D.—Court Decision. CY—County. D—Decedent. DC—Dummy Corporation. DE—Donee. Del. Order—Delegation Order. DISC—Domestic International Sales Corporation. DR—Donor. E—Estate. EE—Employee. E.O.—Executive Order. ER—Employer. ERISA—Employee Retirement Income Security Act. EX—Executor. F—Fiduciary. FC—Foreign Country. FICA—Federal Insurance Contributions Act. FISC—Foreign International Sales Company. FPH—Foreign Personal Holding Company. F.R.—Federal Register. FUTA—Federal Unemployment Tax Act. FX—Foreign corporation. G.C.M.—Chief Counsel’s Memorandum. GE—Grantee. GP—General Partner. GR—Grantor. IC—Insurance Company. I.R.B.—Internal Revenue Bulletin. LE—Lessee. LP—Limited Partner. LR—Lessor. M—Minor. Nonacq.—Nonacquiescence. O—Organization. P—Parent Corporation. PHC—Personal Holding Company. PO—Possession of the U.S. PR—Partner. PRS—Partnership. PTE—Prohibited Transaction Exemption. Pub. L.—Public Law. REIT—Real Estate Investment Trust. Rev. Proc.—Revenue Procedure. Rev. Rul.—Revenue Ruling. S—Subsidiary. S.P.R.—Statement of Procedural Rules. Stat.—Statutes at Large. T—Target Corporation. T.C.—Tax Court. T.D.—Treasury Decision. TFE—Transferee. TFR—Transferor. T.I.R.—Technical Information Release. TP—Taxpayer. TR—Trust. TT—Trustee. U.S.C.—United States Code. X—Corporation. Y—Corporation. Z—Corporation. Numerical Finding List1 Numerical Finding List Bulletin 2023–37 Announcements: Article Issue Link Page 2023-18 2023-30 I.R.B. 2023-30 366 2023-19 2023-30 I.R.B. 2023-30 367 2023-20 2023-30 I.R.B. 2023-30 368 2023-17 2023-31 I.R.B. 2023-31 412 2023-21 2023-31 I.R.B. 2023-31 413 2023-22 2023-32 I.R.B. 2023-32 429 2023-23 2023-34 I.R.B. 2023-34 569 2023-24 2023-35 I.R.B. 2023-35 661 2023-25 2023-37 I.R.B. 2023-37 821 2023-26 2023-37 I.R.B. 2023-37 822 2023-28 2023-37 I.R.B. 2023-37 823 Notices: Article Issue Link Page 2023-29 2023-29 I.R.B. 2023-29 1 2023-45 2023-29 I.R.B. 2023-29 317 2023-47 2023-29 I.R.B. 2023-29 318 2023-37 2023-30 I.R.B. 2023-30 359 2023-50 2023-30 I.R.B. 2023-30 361 2023-51 2023-30 I.R.B. 2023-30 362 2023-54 2023-31 I.R.B. 2023-31 382 2023-53 2023-32 I.R.B. 2023-32 424 2023-55 2023-32 I.R.B. 2023-32 427 2023-57 2023-34 I.R.B. 2023-34 560 2023-58 2023-34 I.R.B. 2023-34 563 2023-59 2023-34 I.R.B. 2023-34 564 2023-52 2023-35 I.R.B. 2023-35 650 2023-61 2023-35 I.R.B. 2023-35 651 2023-62 2023-37 I.R.B. 2023-37 817 Proposed Regulations: Article Issue Link Page REG-124123-22 2023-30 I.R.B. 2023-30 369 REG-124930-21 2023-31 I.R.B. 2023-31 431 REG-120730-21 2023-33 I.R.B. 2023-33 491 REG-134420-10 2023-34 I.R.B. 2023-34 571 REG-109348-22 2023-35 I.R.B. 2023-35 662 REG-120727-21 2023-36 I.R.B. 2023-36 670 Revenue Procedures: Article Issue Link Page 2023-31 2023-25 I.R.B. 2023-25 386 2023-26 2023-33 I.R.B. 2023-33 486 2023-27 2023-35 I.R.B. 2023-35 655 2023-17 2023-37 I.R.B. 2023-37 819 Revenue Rulings: Article Issue Link Page 2023-13 2023-32 I.R.B. 2023-32 413 2023-14 2023-33 I.R.B. 2023-33 484 2023-15 2023-34 I.R.B. 2023-34 559 2023-15 2023-34 I.R.B. 2023-34 559 2023-16 2023-37 I.R.B. 2023-37 796 2023-17 2023-37 I.R.B. 2023-37 798 Treasury Decisions: Article Issue Link Page 9976 2023-30 I.R.B. 2023-30 354 9977 2023-31 I.R.B. 2023-31 375 9978 2023-32 I.R.B. 2023-32 415 9979 2023-35 I.R.B. 2023-35 602 1 A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2023–27 through 2023–52 is in Internal Revenue Bulletin 2023–52, dated December 27, 2023. Finding List of Current Actions on Previously Published Items1 Bulletin 2023–37 How to get the Internal Revenue Bulletin INTERNAL REVENUE BULLETIN The Introduction at the beginning of this issue describes the purpose and content of this publication. The weekly Internal Revenue Bulletins are available at www.irs.gov/irb/. We Welcome Comments About the Internal Revenue Bulletin If you have comments concerning the format or production of the Internal Revenue Bulletin or suggestions for improving it, we would be pleased to hear from you. You can email us your suggestions or comments through the IRS Internet Home Page www.irs.gov) or write to the Internal Revenue Service, Publishing Division, IRB Publishing Program Desk, 1111 Constitution Ave. NW, IR-6230 Washington, DC 20224.
