Memo #
28532

Conference Call to Discuss Money Market Fund Tax Issues - Tuesday, Dec. 2 at 2:00 p.m. EST
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[28532]

November 20, 2014

TO: TAX COMMITTEE No. 36-14 RE: CONFERENCE CALL TO DISCUSS MONEY MARKET FUND TAX ISSUES - TUESDAY, DEC. 2 AT 2:00 P.M. EST

 

We will hold a conference call on Tuesday, December 2, 2014, at 2:00 p.m. EST, to discuss various issues in connection with the recent money market fund tax guidance. [1]  Specifically, we will discuss questions raised by the Internal Revenue Service (“IRS”) and the Treasury Department at the public hearing held on November 19, 2014, including:

  • How to address the use of the NAV method by RICs to ensure that it works properly for excise tax purposes;
  • Whether the IRS should clarify the definition of “fair market value;” and
  • How to allow an existing money market fund to split off its retail or institutional classes in a tax-free manner.

Ezella Wynn will send an Outlook Calendar invitation for the call. If you would like to participate in the call, please simply accept the invitation. You also may contact Ms. Wynn directly by e-mail (ewynn@ici.org) if you do not receive the Outlook invitation. The dial-in number for the call is 800-369-1736 and the passcode is 35172.

 

Karen Lau Gibian
Senior Associate Counsel

endnotes

[1] See Institute Memorandum (28478) dated October 23, 2014.