Reporting Rules for Widely Held Fixed Investment Trusts

This document contains final regulations amending Sec. 1.671- 5 which provides reporting rules for widely held fixed investment trusts (WHFITs). These final regulations clarify and simplify reporting for trustees and middlemen of non-mortgage widely held fixed investment trusts (NMWHFITs). These final regulations also provide temporary safe harbor reporting rules for widely held mortgage trusts (WHMTs) that are outside the WHMT safe harbor. The preamble to these regulations also provides that trustees of WHFITs are to indicate on the Form 1041, "U.S. Income Tax Return for Estates and Trusts," filed for a WHFIT's 2006 calendar year that the return is a final return.