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'Why Can't I Find That IRS Notice About REIT Spin-Offs?' and Other Questions Answered

WASHINGTON, DC—A client note about a Treasury official's comments on amending REIT spin-off rules prompted an avalanche of questions. Here's an update.

By Erika Morphy | erikamorphy | Updated on June 16, 2016

Bob Willens Bob Willens

WASHINGTON, DC—Earlier this week, Robert Willens of Robert Willens LLC published a client note alerting readers that the US Treasury Department was going to amend the recently-announced regulations that would require companies that engaged in a REIT conversion, or merged with an existing REIT, after a corporate spin off within 10 years of that event to recognize the gain as though the assets had been sold at their fair market value on the sale date.

This amendment, according to Willens, would “give effective date relief” for conversions that relate back to a spin-off that occurred before Dec. 7, 2015.

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