# Bulletin No. 2023–37

> Briefs, arguments, decisions, and more.

URL: https://www.frixlaw.com/law-library/documents/agency%3Airs%3Ac80a24d2b150159e

## Record

- **Collection:** Agency decision
- **Document type:** Agency decision

## Text

HIGHLIGHTS
OF THIS ISSUE




Bulletin No. 2023–37
September 11, 2023

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.

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)

Finding Lists begin on page ii.

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.

Rev. Rul. 2023-16, page 796.

Federal rates; adjusted federal rates; adjusted federal longterm 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.

The contents of this publication are not copyrighted and may be reprinted freely. A citation of the Internal Revenue Bulletin as the source would be appropriate.

September 11, 2023 

Bulletin No. 2023–37

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

AFR
110% AFR
120% AFR
130% AFR
AFR
110% AFR
120% AFR
130% AFR
150% AFR
175% AFR
AFR
110% AFR
120% AFR
130% AFR

Short-term adjusted AFR
Mid-term adjusted AFR
Long-term adjusted AFR

September 11, 2023

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 shortterm, 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
Short-term
5.12%
5.06%
5.03%
5.65%
5.57%
5.53%
6.16%
6.07%
6.02%
6.69%
6.58%
6.53%
Mid-term
4.19%
4.15%
4.13%
4.62%
4.57%
4.54%
5.04%
4.98%
4.95%
5.47%
5.40%
5.36%
6.33%
6.23%
6.18%
7.39%
7.26%
7.20%
Long-term
4.19%
4.15%
4.13%
4.62%
4.57%
4.54%
5.04%
4.98%
4.95%
5.47%
5.40%
5.36%

Annual
3.88%
3.17%
3.17%

REV. RUL. 2023-16 TABLE 2
Adjusted AFR for September 2023
Period for Compounding
Semiannual
3.84%
3.15%
3.15%

796

Monthly
5.01%
5.51%
5.99%
6.49%
4.11%
4.53%
4.93%
5.34%
6.15%
7.15%
4.11%
4.53%
4.93%
5.34%

Quarterly
3.82%
3.14%
3.14%

Monthly
3.81%
3.13%
3.13%

Bulletin No. 2023–37

REV. RUL. 2023-16 TABLE 3
Rates Under Section 382 for September 2023
Adjusted federal long-term rate for the current month
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%
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

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.

Bulletin No. 2023–37

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.

5.00%

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, midterm, 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 BelowMarket 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.

797

September 11, 2023

Section 6621.—
Determination of Rate of
Interest
26 CFR 301.6621-1: Interest rate.

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

September 11, 2023

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, 202332 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

798

$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 tollfree call).

Bulletin No. 2023–37

APPENDIX A

Days
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41

Factor
0.000013699
0.000027397
0.000041096
0.000054796
0.000068495
0.000082195
0.000095894
0.000109594
0.000123294
0.000136995
0.000150695
0.000164396
0.000178097
0.000191798
0.000205499
0.000219201
0.000232902
0.000246604
0.000260306
0.000274008
0.000287711
0.000301413
0.000315116
0.000328819
0.000342522
0.000356225
0.000369929
0.000383633
0.000397336
0.000411041
0.000424745
0.000438449
0.000452154
0.000465859
0.000479564
0.000493269
0.000506974
0.000520680
0.000534386
0.000548092
0.000561798

Bulletin No. 2023–37

365 Day Year
0.5% Compound Rate 184 Days
Days
Factor
63
0.000863380
64
0.000877091
65
0.000890801
66
0.000904512
67
0.000918223
68
0.000931934
69
0.000945646
70
0.000959357
71
0.000973069
72
0.000986781
73
0.001000493
74
0.001014206
75
0.001027918
76
0.001041631
77
0.001055344
78
0.001069057
79
0.001082770
80
0.001096484
81
0.001110197
82
0.001123911
83
0.001137625
84
0.001151339
85
0.001165054
86
0.001178768
87
0.001192483
88
0.001206198
89
0.001219913
90
0.001233629
91
0.001247344
92
0.001261060
93
0.001274776
94
0.001288492
95
0.001302208
96
0.001315925
97
0.001329641
98
0.001343358
99
0.001357075
100
0.001370792
101
0.001384510
102
0.001398227
103
0.001411945

799

Days
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165

Factor
0.001713784
0.001727506
0.001741228
0.001754951
0.001768673
0.001782396
0.001796119
0.001809843
0.001823566
0.001837290
0.001851013
0.001864737
0.001878462
0.001892186
0.001905910
0.001919635
0.001933360
0.001947085
0.001960811
0.001974536
0.001988262
0.002001988
0.002015714
0.002029440
0.002043166
0.002056893
0.002070620
0.002084347
0.002098074
0.002111801
0.002125529
0.002139257
0.002152985
0.002166713
0.002180441
0.002194169
0.002207898
0.002221627
0.002235356
0.002249085
0.002262815

September 11, 2023

42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62

0.000575504
0.000589211
0.000602917
0.000616624
0.000630331
0.000644039
0.000657746
0.000671454
0.000685161
0.000698869
0.000712578
0.000726286
0.000739995
0.000753703
0.000767412
0.000781121
0.000794831
0.000808540
0.000822250
0.000835960
0.000849670

September 11, 2023

104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124

0.001425663
0.001439381
0.001453100
0.001466818
0.001480537
0.001494256
0.001507975
0.001521694
0.001535414
0.001549133
0.001562853
0.001576573
0.001590293
0.001604014
0.001617734
0.001631455
0.001645176
0.001658897
0.001672619
0.001686340
0.001700062

800

166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184

0.002276544
0.002290274
0.002304004
0.002317734
0.002331465
0.002345195
0.002358926
0.002372657
0.002386388
0.002400120
0.002413851
0.002427583
0.002441315
0.002455047
0.002468779
0.002482511
0.002496244
0.002509977
0.002523710

Bulletin No. 2023–37

Days
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42

Factor
0.000013661
0.000027323
0.000040984
0.000054646
0.000068308
0.000081970
0.000095632
0.000109295
0.000122958
0.000136620
0.000150283
0.000163947
0.000177610
0.000191274
0.000204938
0.000218602
0.000232266
0.000245930
0.000259595
0.000273260
0.000286924
0.000300590
0.000314255
0.000327920
0.000341586
0.000355252
0.000368918
0.000382584
0.000396251
0.000409917
0.000423584
0.000437251
0.000450918
0.000464586
0.000478253
0.000491921
0.000505589
0.000519257
0.000532925
0.000546594
0.000560262
0.000573931

Bulletin No. 2023–37

366 Day Year
0.5% Compound Rate 184 Days
Days
Factor
63
0.000861020
64
0.000874693
65
0.000888366
66
0.000902040
67
0.000915713
68
0.000929387
69
0.000943061
70
0.000956735
71
0.000970409
72
0.000984084
73
0.000997758
74
0.001011433
75
0.001025108
76
0.001038783
77
0.001052459
78
0.001066134
79
0.001079810
80
0.001093486
81
0.001107162
82
0.001120839
83
0.001134515
84
0.001148192
85
0.001161869
86
0.001175546
87
0.001189223
88
0.001202900
89
0.001216578
90
0.001230256
91
0.001243934
92
0.001257612
93
0.001271291
94
0.001284969
95
0.001298648
96
0.001312327
97
0.001326006
98
0.001339685
99
0.001353365
100
0.001367044
101
0.001380724
102
0.001394404
103
0.001408085
104
0.001421765

801

Days
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166

Factor
0.001709097
0.001722782
0.001736467
0.001750152
0.001763837
0.001777522
0.001791208
0.001804893
0.001818579
0.001832265
0.001845951
0.001859638
0.001873324
0.001887011
0.001900698
0.001914385
0.001928073
0.001941760
0.001955448
0.001969136
0.001982824
0.001996512
0.002010201
0.002023889
0.002037578
0.002051267
0.002064957
0.002078646
0.002092336
0.002106025
0.002119715
0.002133405
0.002147096
0.002160786
0.002174477
0.002188168
0.002201859
0.002215550
0.002229242
0.002242933
0.002256625
0.002270317

September 11, 2023

43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62

0.000587600
0.000601269
0.000614939
0.000628608
0.000642278
0.000655948
0.000669618
0.000683289
0.000696959
0.000710630
0.000724301
0.000737972
0.000751643
0.000765315
0.000778986
0.000792658
0.000806330
0.000820003
0.000833675
0.000847348

September 11, 2023

105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124

0.001435446
0.001449127
0.001462808
0.001476489
0.001490170
0.001503852
0.001517533
0.001531215
0.001544897
0.001558580
0.001572262
0.001585945
0.001599628
0.001613311
0.001626994
0.001640678
0.001654361
0.001668045
0.001681729
0.001695413

802

167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184

0.002284010
0.002297702
0.002311395
0.002325087
0.002338780
0.002352473
0.002366167
0.002379860
0.002393554
0.002407248
0.002420942
0.002434636
0.002448331
0.002462025
0.002475720
0.002489415
0.002503110
0.002516806

Bulletin No. 2023–37

TABLE OF INTEREST RATES
PERIODS BEFORE JUL. 1, 1975 - PERIODS ENDING DEC. 31, 1986
OVERPAYMENTS AND UNDERPAYMENTS
PERIOD

RATE

Before Jul. 1, 1975
Jul. 1, 1975–Jan. 31, 1976
Feb. 1, 1976–Jan. 31, 1978
Feb. 1, 1978–Jan. 31, 1980
Feb. 1, 1980–Jan. 31, 1982
Feb. 1, 1982–Dec. 31, 1982
Jan. 1, 1983–Jun. 30, 1983
Jul. 1, 1983–Dec. 31, 1983
Jan. 1, 1984–Jun. 30, 1984
Jul. 1, 1984–Dec. 31, 1984
Jan. 1, 1985–Dec. 31, 1985
Jul. 1, 1985–Dec. 31, 1985
Jan. 1, 1986–Jun. 30, 1986
Jul. 1, 1986–Dec. 31, 1986

6%
9%
7%
6%
12%
20%
16%
11%
11%
11%
13%
11%
10%
9%

Table
Table
Table
Table
Table
Table
Table
Table
Table
Table
Table
Table
Table
Table

In 1995-1 C.B.
DAILY RATE TABLE
2,
pg.
4,
pg.
3,
pg.
2,
pg.
5,
pg.
6,
pg.
37,
pg.
27,
pg.
75,
pg.
75,
pg.
31,
pg.
27,
pg.
25,
pg.
23,
pg.

557
559
558
557
560
560
591
581
629
629
585
581
579
577

TABLE OF INTEREST RATES
FROM JAN. 1, 1987 – Dec. 31, 1998

Jan. 1, 1987–Mar. 31, 1987
Apr. 1, 1987–Jun. 30, 1987
Jul. 1, 1987–Sep. 30, 1987
Oct. 1, 1987–Dec. 31, 1987
Jan. 1, 1988–Mar. 31, 1988
Apr. 1, 1988–Jun. 30, 1988
Jul. 1, 1988–Sep. 30, 1988
Oct. 1, 1988–Dec. 31, 1988
Jan. 1, 1989–Mar. 31, 1989
Apr. 1, 1989–Jun. 30, 1989
Jul. 1, 1989–Sep. 30, 1989
Oct. 1, 1989–Dec. 31, 1989
Jan. 1, 1990–Mar. 31, 1990
Apr. 1, 1990–Jun. 30, 1990
Jul. 1, 1990–Sep. 30, 1990
Oct. 1, 1990–Dec. 31, 1990
Jan. 1, 1991–Mar. 31, 1991
Apr. 1, 1991–Jun. 30, 1991
Jul. 1, 1991–Sep. 30, 1991

Bulletin No. 2023–37

RATE
8%
8%
8%
9%
10%
9%
9%
10%
10%
11%
11%
10%
10%
10%
10%
10%
10%
9%
9%

OVERPAYMENTS
1995-1 C.B.
TABLE
PG
21
575
21
575
21
575
23
577
73
627
71
625
71
625
73
627
25
579
27
581
27
581
25
579
25
579
25
579
25
579
25
579
25
579
23
577
23
577

803

UNDERPAYMENTS
1995-1 C.B. RATE
RATE
TABLE
PG
9%
23
577
9%
23
577
9%
23
577
10%
25
579
11%
75
629
10%
73
627
10%
73
627
11%
75
629
11%
27
581
12%
29
583
12%
29
583
11%
27
581
11%
27
581
11%
27
581
11%
27
581
11%
27
581
11%
27
581
10%
25
579
10%
25
579

September 11, 2023

Oct. 1, 1991–Dec. 31, 1991
Jan. 1, 1992–Mar. 31, 1992
Apr. 1, 1992–Jun. 30, 1992
Jul. 1, 1992–Sep. 30, 1992
Oct. 1, 1992–Dec. 31, 1992
Jan. 1, 1993–Mar. 31, 1993
Apr. 1, 1993–Jun. 30, 1993
Jul. 1, 1993–Sep. 30, 1993
Oct. 1, 1993–Dec. 31, 1993
Jan. 1, 1994–Mar. 31, 1994
Apr. 1, 1994–Jun. 30, 1994
Jul. 1, 1994–Sep. 30, 1994
Oct. 1, 1994–Dec. 31, 1994
Jan. 1, 1995–Mar. 31, 1995
Apr. 1, 1995–Jun. 30, 1995
Jul. 1, 1995–Sep. 30, 1995
Oct. 1, 1995–Dec. 31, 1995
Jan. 1, 1996–Mar. 31, 1996
Apr. 1, 1996–Jun. 30, 1996
Jul. 1, 1996–Sep. 30, 1996
Oct. 1, 1996–Dec. 31, 1996
Jan. 1, 1997–Mar. 31, 1997
Apr. 1, 1997–Jun. 30, 1997
Jul. 1, 1997–Sep. 30, 1997
Oct. 1, 1997–Dec. 31, 1997
Jan. 1, 1998–Mar. 31, 1998
Apr. 1, 1998–Jun. 30, 1998
Jul. 1, 1998–Sep. 30, 1998
Oct. 1, 1998–Dec. 31, 1998

September 11, 2023

9%
8%
7%
7%
6%
6%
6%
6%
6%
6%
6%
7%
8%
8%
9%
8%
8%
8%
7%
8%
8%
8%
8%
8%
8%
8%
7%
7%
7%

23
69
67
67
65
17
17
17
17
17
17
19
21
21
23
21
21
69
67
69
69
21
21
21
21
21
19
19
19

804

577
623
621
621
619
571
571
571
571
571
571
573
575
575
577
575
575
623
621
623
623
575
575
575
575
575
573
573
573

10%
9%
8%
8%
7%
7%
7%
7%
7%
7%
7%
8%
9%
9%
10%
9%
9%
9%
8%
9%
9%
9%
9%
9%
9%
9%
8%
8%
8%

25
71
69
69
67
19
19
19
19
19
19
21
23
23
25
23
23
71
69
71
71
23
23
23
23
23
21
21
21

579
625
623
623
621
573
573
573
573
573
573
575
577
577
579
577
577
625
623
625
625
577
577
577
577
577
575
575
575

Bulletin No. 2023–37

TABLE OF INTEREST RATES
FROM JANUARY 1, 1999 - PRESENT
NONCORPORATE OVERPAYMENTS AND UNDERPAYMENTS
1995-1 C.B.
Jan. 1, 1999–Mar. 31, 1999
Apr. 1, 1999–Jun. 30, 1999
Jul. 1, 1999–Sep. 30, 1999
Oct. 1, 1999–Dec. 31, 1999
Jan. 1, 2000–Mar. 31, 2000
Apr. 1, 2000–Jun. 30, 2000
Jul. 1, 2000–Sep. 30, 2000
Oct. 1, 2000–Dec. 31, 2000
Jan. 1, 2001–Mar. 31, 2001
Apr. 1, 2001–Jun. 30, 2001
Jul. 1, 2001–Sep. 30, 2001
Oct. 1, 2001–Dec. 31, 2001
Jan. 1, 2002–Mar. 31, 2002
Apr. 1, 2002–Jun. 30, 2002
Jul. 1, 2002–Sep. 30, 2002
Oct. 1, 2002–Dec. 31, 2002
Jan. 1, 2003–Mar. 31, 2003
Apr. 1, 2003–Jun. 30, 2003
Jul. 1, 2003–Sep. 30, 2003
Oct. 1, 2003–Dec. 31, 2003
Jan. 1, 2004–Mar. 31, 2004
Apr. 1, 2004–Jun. 30, 2004
Jul. 1, 2004–Sep. 30, 2004
Oct. 1, 2004–Dec. 31, 2004
Jan. 1, 2005–Mar. 31, 2005
Apr. 1, 2005–Jun. 30, 2005
Jul. 1, 2005–Sep. 30, 2005
Oct. 1, 2005–Dec. 31, 2005
Jan. 1, 2006–Mar. 31, 2006
Apr. 1, 2006–Jun. 30, 2006
Jul. 1, 2006–Sep. 30, 2006
Oct. 1, 2006–Dec. 31, 2006
Jan. 1, 2007–Mar. 31, 2007
Apr. 1, 2007–Jun. 30, 2007
Jul. 1, 2007–Sep. 30, 2007
Oct. 1, 2007–Dec. 31, 2007
Jan. 1, 2008–Mar. 31, 2008
Apr. 1, 2008–Jun. 30, 2008
Jul. 1, 2008–Sep. 30, 2008
Oct. 1, 2008–Dec. 31, 2008
Jan. 1, 2009–Mar. 31, 2009

Bulletin No. 2023–37

RATE
7%
8%
8%
8%
8%
9%
9%
9%
9%
8%
7%
7%
6%
6%
6%
6%
5%
5%
5%
4%
4%
5%
4%
5%
5%
6%
6%
7%
7%
7%
8%
8%
8%
8%
8%
8%
7%
6%
5%
6%
5%

805

TABLE
19
21
21
21
69
71
71
71
23
21
19
19
17
17
17
17
15
15
15
13
61
63
61
63
15
17
17
19
19
19
21
21
21
21
21
21
67
65
63
65
15

PAGE
573
575
575
575
623
625
625
625
577
575
573
573
571
571
571
571
569
569
569
567
615
617
615
617
569
571
571
573
573
573
575
575
575
575
575
575
621
619
617
619
569

September 11, 2023

Apr. 1, 2009–Jun. 30, 2009
Jul. 1, 2009–Sep. 30, 2009
Oct. 1, 2009–Dec. 31, 2009
Jan. 1, 2010–Mar. 31, 2010
Apr. 1, 2010–Jun. 30, 2010
Jul. 1, 2010–Sep. 30, 2010
Oct. 1, 2010–Dec. 31, 2010
Jan. 1, 2011–Mar. 31, 2011
Apr. 1, 2011–Jun. 30, 2011
Jul. 1, 2011–Sep. 30, 2011
Oct. 1, 2011–Dec. 31, 2011
Jan. 1, 2012–Mar. 31, 2012
Apr. 1, 2012–Jun. 30, 2012
Jul. 1, 2012–Sep. 30, 2012
Oct. 1, 2012–Dec. 31, 2012
Jan. 1, 2013–Mar. 31, 2013
Apr. 1, 2013–Jun. 30, 2013
Jul. 1, 2013–Sep. 30, 2013
Oct. 1, 2013–Dec. 31, 2013
Jan. 1, 2014–Mar. 31, 2014
Apr. 1, 2014–Jun. 30, 2014
Jul. 1, 2014–Sep. 30, 2014
Oct. 1, 2014–Dec. 31, 2014
Jan. 1, 2015–Mar. 31, 2015
Apr. 1, 2015–Jun. 30, 2015
Jul. 1, 2015–Sep. 30, 2015
Oct. 1, 2015–Dec. 31, 2015
Jan. 1, 2016–Mar. 31, 2016
Apr. 1, 2016–Jun. 30, 2016
Jul. 1, 2016–Sep. 30, 2016
Oct. 1, 2016–Dec. 31, 2016
Jan. 1, 2017–Mar. 31, 2017
Apr. 1, 2017–Jun. 30, 2017
Jul. 1, 2017–Sep. 30, 2017
Oct. 1, 2017–Dec. 31, 2017
Jan. 1, 2018–Mar. 31, 2018
Apr. 1, 2018–Jun. 30, 2018
Jul. 1, 2018–Sep. 30, 2018
Oct. 1, 2018–Dec. 31, 2018
Jan. 1, 2019–Mar. 31, 2019
Apr. 1, 2019–Jun. 30, 2019
Jul. 1, 2019–Sep. 30, 2019
Oct. 1, 2019–Dec. 31, 2019
Jan. 1, 2020–Mar. 31, 2020
Apr. 1, 2020–Jun. 30, 2020

4%
4%
4%
4%
4%
4%
4%
3%
4%
4%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
4%
4%
4%
4%
4%
4%
4%
4%
5%
5%
5%
6%
6%
5%
5%
5%
5%

September 11, 2023

806

13
13
13
13
13
13
13
11
13
13
11
59
59
59
59
11
11
11
11
11
11
11
11
11
11
11
11
59
61
61
61
13
13
13
13
13
15
15
15
17
17
15
15
63
63

567
567
567
567
567
567
567
565
567
567
565
613
613
613
613
565
565
565
565
565
565
565
565
565
565
565
565
613
615
615
615
567
567
567
567
567
569
569
569
571
571
569
569
617
617

Bulletin No. 2023–37

Jul. 1, 2020–Sep. 30, 2020
Oct. 1, 2020–Dec. 31, 2020
Jan. 1, 2021–Mar. 31, 2021
Apr. 1, 2021–Jun. 30, 2021
Jul. 1, 2021–Sep. 30, 2021
Oct. 1, 2021–Dec. 31, 2021
Jan. 1, 2022–Mar. 31, 2022
Apr. 1, 2022–Jun. 30, 2022
Jul. 1, 2022–Sep. 30, 2022
Oct. 1, 2022–Dec. 31, 2022
Jan. 1, 2023–Mar. 31, 2023
Apr. 1, 2023–Jun. 30, 2023
Jul. 1, 2023–Sep. 30, 2023
Oct. 1, 2023–Dec. 31, 2023

3%
3%
3%
3%
3%
3%
3%
4%
5%
6%
7%
7%
7%
8%

Bulletin No. 2023–37

807

59
59
11
11
11
11
11
13
15
17
19
19
19
21

613
613
565
565
565
565
565
567
569
571
573
573
573
575

September 11, 2023

TABLE OF INTEREST RATES
FROM JANUARY 1, 1999 - PRESENT
CORPORATE OVERPAYMENTS AND UNDERPAYMENTS

Jan. 1, 1999–Mar. 31, 1999
Apr. 1, 1999–Jun. 30, 1999
Jul. 1, 1999–Sep. 30, 1999
Oct. 1, 1999–Dec. 31, 1999
Jan. 1, 2000–Mar. 30, 2000
Apr. 1, 2000–Jun. 30, 2000
Jul. 1, 2000–Sep. 30, 2000
Oct. 1, 2000–Dec. 31, 2000
Jan. 1, 2001–Mar. 31, 2001
Apr. 1, 2001–Jun. 30, 2001
Jul. 1, 2001–Sep. 30, 2001
Oct. 1, 2001–Dec. 31, 2001
Jan. 1, 2002–Mar. 31, 2002
Apr. 1, 2002–Jun. 30, 2002
Jul. 1, 2002–Sep. 30, 2002
Oct. 1, 2002–Dec. 31, 2002
Jan. 1, 2003–Mar. 31, 2003
Apr. 1, 2003–Jun. 30, 2003
Jul. 1, 2003–Sep. 30, 2003
Oct. 1, 2003–Dec. 31, 2003
Jan. 1, 2004–Mar. 31, 2004
Apr. 1, 2004–Jun. 30, 2004
Jul. 1, 2004–Sep. 30, 2004
Oct. 1, 2004–Dec. 31, 2004
Jan. 1, 2005–Mar. 31, 2005
Apr. 1, 2005–Jun. 30, 2005
Jul. 1, 2005–Sep. 30, 2005
Oct. 1, 2005–Dec. 31, 2005
Jan. 1, 2006–Mar. 31, 2006
Apr. 1, 2006–Jun. 30, 2006
Jul. 1, 2006–Sep. 30, 2006
Oct. 1, 2006–Dec. 31, 2006
Jan. 1, 2007–Mar. 31, 2007
Apr. 1, 2007–Jun. 30, 2007
Jul. 1, 2007–Sep. 30, 2007
Oct. 1, 2007–Dec. 31, 2007
Jan. 1, 2008–Mar. 31, 2008
Apr. 1, 2008–Jun. 30, 2008
Jul. 1, 2008–Sep. 30, 2008
Oct. 1, 2008–Dec. 31, 2008

September 11, 2023

OVERPAYMENTS
1995-1 C.B.
RATE
TABLE
6%
17
7%
19
7%
19
7%
19
7%
67
8%
69
8%
69
8%
69
8%
21
7%
19
6%
17
6%
17
5%
15
5%
15
5%
15
5%
15
4%
13
4%
13
4%
13
3%
11
3%
59
4%
61
3%
59
4%
61
4%
13
5%
15
5%
15
6%
17
6%
17
6%
17
7%
19
7%
19
7%
19
7%
19
7%
19
7%
19
6%
65
5%
63
4%
61
5%
63

808

PG
571
573
573
573
621
623
623
623
575
573
571
571
569
569
569
569
567
567
567
565
613
615
613
615
567
569
569
571
571
571
573
573
573
573
573
573
619
617
615
617

UNDERPAYMENTS
1995-1 C.B.
RATE
TABLE
PG
7%
19
573
8%
21
575
8%
21
575
8%
21
575
8%
69
623
9%
71
625
9%
71
625
9%
71
625
9%
23
577
8%
21
575
7%
19
573
7%
19
573
6%
17
571
6%
17
571
6%
17
571
6%
17
571
5%
15
569
5%
15
569
5%
15
569
4%
13
567
4%
61
615
5%
63
617
4%
61
615
5%
63
617
5%
15
569
6%
17
571
6%
17
571
7%
19
573
7%
19
573
7%
19
573
8%
21
575
8%
21
575
8%
21
575
8%
21
575
8%
21
575
8%
21
575
7%
67
621
6%
65
619
5%
63
617
6%
65
619

Bulletin No. 2023–37

Jan. 1, 2009–Mar. 31, 2009
Apr. 1, 2009–Jun. 30, 2009
Jul. 1, 2009–Sep. 30, 2009
Oct. 1, 2009–Dec. 31, 2009
Jan. 1, 2010–Mar. 31, 2010
Apr. 1, 2010–Jun. 30, 2010
Jul. 1, 2010–Sep. 30, 2010
Oct. 1, 2010–Dec. 31, 2010
Jan. 1, 2011–Mar. 31, 2011
Apr. 1, 2011–Jun. 30, 2011
Jul. 1, 2011–Sep. 30, 2011
Oct. 1, 2011–Dec. 31, 2011
Jan. 1, 2012–Mar. 31, 2012
Apr. 1, 2012–Jun. 30, 2012
Jul. 1, 2012–Sep. 30, 2012
Oct. 1, 2012–Dec. 31, 2012
Jan. 1, 2013–Mar. 31, 2013
Apr. 1, 2013–Jun. 30, 2013
Jul. 1, 2013–Sep. 30, 2013
Oct. 1, 2013–Dec. 31, 2013
Jan. 1, 2014–Mar. 31, 2014
Apr. 1, 2014–Jun. 30, 2014
Jul. 1, 2014–Sep. 30, 2014
Oct. 1, 2014–Dec. 31, 2014
Jan. 1, 2015–Mar. 31, 2015
Apr. 1, 2015–Jun. 30, 2015
Jul. 1, 2015–Sep. 30, 2015
Oct. 1, 2015–Dec. 31, 2015
Jan. 1, 2016–Mar. 31, 2016
Apr. 1, 2016–Jun. 30, 2016
Jul. 1, 2016–Sep. 30, 2016
Oct. 1, 2016–Dec. 31, 2016
Jan. 1, 2017–Mar. 31, 2017
Apr. 1, 2017–Jun. 30, 2017
Jul. 1, 2017–Sep. 30, 2017
Oct. 1, 2017–Dec. 31, 2017
Jan. 1, 2018–Mar. 31, 2018
Apr. 1, 2018–Jun. 30, 2018
Jul. 1, 2018–Sep. 30, 2018
Oct. 1, 2018–Dec. 31, 2018
Jan. 1, 2019–Mar. 31, 2019
Apr. 1, 2019–Jun. 30, 2019
Jul. 1, 2019–Sep. 30, 2019
Oct. 1, 2019–Dec. 31, 2019
Jan. 1, 2020–Mar. 31, 2020

Bulletin No. 2023–37

4%
3%
3%
3%
3%
3%
3%
3%
2%
3%
3%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
3%
3%
3%
3%
3%
3%
3%
3%
4%
4%
4%
5%
5%
4%
4%
4%

13
11
11
11
11
11
11
11
9
11
11
9
57
57
57
57
9
9
9
9
9
9
9
9
9
9
9
9
57
59
59
59
11
11
11
11
11
13
13
13
15
15
13
13
61

809

567
565
565
565
565
565
565
565
563
565
565
563
611
611
611
611
563
563
563
563
563
563
563
563
563
563
563
563
611
613
613
613
565
565
565
565
565
567
567
567
569
569
567
567
615

5%
4%
4%
4%
4%
4%
4%
4%
3%
4%
4%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
4%
4%
4%
4%
4%
4%
4%
4%
5%
5%
5%
6%
6%
5%
5%
5%

15
13
13
13
13
13
13
13
11
13
13
11
59
59
59
59
11
11
11
11
11
11
11
11
11
11
11
11
59
61
61
61
13
13
13
13
13
15
15
15
17
17
15
15
63

569
567
567
567
567
567
567
567
565
567
567
565
613
613
613
613
565
565
565
565
565
565
565
565
565
565
565
565
613
615
615
615
567
567
567
567
567
569
569
569
571
571
569
569
617

September 11, 2023

Apr. 1, 2020–Jun. 30, 2020
Jul. 1, 2020–Sep. 30, 2020
Oct. 1, 2020–Dec. 31, 2020
Jan. 1, 2021–Mar. 31, 2021
Apr. 1, 2021–Jun. 30, 2021
Jul. 1, 2021–Sep. 30, 2021
Oct. 1, 2021–Dec. 31, 2021
Jan. 1, 2022–Mar. 31, 2022
Apr. 1, 2022–Jun. 30, 2022
Jul. 1, 2022–Sep. 30, 2022
Oct. 1, 2022–Dec. 31, 2022
Jan. 1, 2023–Mar. 31, 2023
Apr. 1, 2023–Jun. 30, 2023
Jul. 1, 2023–Sep. 30, 2023
Oct. 1, 2023–Dec. 31, 2023

September 11, 2023

4%
2%
2%
2%
2%
2%
2%
2%
3%
4%
5%
6%
6%
6%
7%

61
57
57
9
9
9
9
9
11
13
15
17
17
17
19

810

615
611
611
563
563
563
563
563
565
567
569
571
571
571
573

5%
3%
3%
3%
3%
3%
3%
3%
4%
5%
6%
7%
7%
7%
8%

63
59
59
11
11
11
11
11
13
15
17
19
19
19
21

617
613
613
565
565
565
565
565
567
569
571
573
573
573
575

Bulletin No. 2023–37

TABLE OF INTEREST RATES
FOR LARGE CORPORATE UNDERPAYMENTS
FROM JANUARY 1, 1991 - PRESENT

Jan. 1, 1991–Mar. 31, 1991
Apr. 1, 1991–Jun. 30, 1991
Jul. 1, 1991–Sep. 30, 1991
Oct. 1, 1991–Dec. 31, 1991
Jan. 1, 1992–Mar. 31, 1992
Apr. 1, 1992–Jun. 30, 1992
Jul. 1, 1992–Sep. 30, 1992
Oct. 1, 1992–Dec. 31, 1992
Jan. 1, 1993–Mar. 31, 1993
Apr. 1, 1993–Jun. 30, 1993
Jul. 1, 1993–Sep. 30, 1993
Oct. 1, 1993–Dec. 31, 1993
Jan. 1, 1994–Mar. 31, 1994
Apr. 1, 1994–Jun. 30, 1994
Jul. 1, 1994–Sep. 30, 1994
Oct. 1, 1994–Dec. 31, 1994
Jan. 1, 1995–Jun. 30, 1995
Apr. 1, 1995–Jun. 30, 1995
Jul. 1, 1995–Sep. 30, 1995
Oct. 1, 1995–Dec. 31, 1995
Jan. 1, 1996–Mar. 31, 1996
Apr. 1, 1996–Jun. 30, 1996
Jul. 1, 1996–Sep. 30, 1996
Oct. 1, 1996–Dec. 31, 1996
Jan. 1, 1997–Mar. 31, 1997
Apr. 1, 1997–Jun. 30, 1997
Jul. 1, 1997–Sep. 30, 1997
Oct. 1, 1997–Dec. 31, 1997
Jan. 1, 1998–Mar. 31, 1998
Apr. 1, 1998–Jun. 30, 1998
Jul. 1, 1998–Sep. 30, 1998
Oct. 1, 1998–Dec. 31, 1998
Jan. 1, 1999–Mar. 31, 1999
Apr. 1, 1999–Jun. 30, 1999
Jul. 1, 1999–Sep. 30, 1999
Oct. 1, 1999–Dec. 31, 1999
Jan. 1, 2000–Mar. 31, 2000
Apr. 1, 2000–Jun. 30, 2000
Jul. 1, 2000–Sep. 30, 2000
Oct. 1, 2000–Dec. 31, 2000
Jan. 1, 2001–Mar. 31, 2001

Bulletin No. 2023–37

RATE
13%
12%
12%
12%
11%
10%
10%
9%
9%
9%
9%
9%
9%
9%
10%
11%
11%
12%
11%
11%
11%
10%
11%
11%
11%
11%
11%
11%
11%
10%
10%
10%
9%
10%
10%
10%
10%
11%
11%
11%
11%

811

1995-1 C.B.
TABLE
31
29
29
29
75
73
73
71
23
23
23
23
23
23
25
27
27
29
27
27
75
73
75
75
27
27
27
27
27
25
25
25
23
25
25
25
73
75
75
75
27

PG
585
583
583
583
629
627
627
625
577
577
577
577
577
577
579
581
581
583
581
581
629
627
629
629
581
581
581
581
581
579
579
579
577
579
579
579
627
629
629
629
581

September 11, 2023

Apr. 1, 2001–Jun. 30, 2001
Jul. 1, 2001–Sep. 30, 2001
Oct. 1, 2001–Dec. 31, 2001
Jan. 1, 2002–Mar. 31, 2002
Apr. 1, 2002–Sep. 30, 2002
Jul. 1, 2002–Sep. 30, 2002
Oct. 1, 2002–Dec. 31, 2002
Jan. 1, 2003–Mar. 31, 2003
Apr. 1, 2003–Jun. 30, 2003
Jul. 1, 2003–Sep. 30, 2003
Oct. 1, 2003–Dec. 31, 2003
Jan. 1, 2004–Mar. 31, 2004
Apr. 1, 2004–Jun. 30, 2004
Jul. 1, 2004–Sep. 30, 2004
Oct. 1, 2004–Dec. 31, 2004
Jan. 1, 2005–Mar. 31, 2005
Apr. 1, 2005–Jun. 30, 2005
Jul. 1, 2005–Sep. 30, 2005
Oct. 1, 2005–Dec. 31, 2005
Jan. 1, 2006–Mar. 31, 2006
Apr. 1, 2006–Jun. 30, 2006
Jul. 1, 2006–Sep. 30, 2006
Oct. 1, 2006–Dec. 31, 2006
Jan. 1, 2007–Mar. 31, 2007
Apr. 1, 2007–Jun. 30, 2007
Jul. 1, 2007–Sep. 30, 2007
Oct. 1, 2007–Dec. 31, 2007
Jan. 1, 2008–Mar. 31, 2008
Apr. 1, 2008–Sep. 30, 2008
Jul. 1, 2008–Sep. 30, 2008
Oct. 1, 2008–Dec. 31, 2008
Jan. 1, 2009–Mar. 31, 2009
Apr. 1, 2009–Jun. 30, 2009
Jul. 1, 2009–Sep. 30, 2009
Oct. 1, 2009–Dec. 31, 2009
Jan. 1, 2010–Mar. 31, 2010
Apr. 1, 2010–Jun. 30, 2010
Jul. 1, 2010–Sep. 30, 2010
Oct. 1, 2010–Dec. 31, 2010
Jan. 1, 2011–Mar. 31, 2011
Apr. 1, 2011–Jun. 30, 2011
Jul. 1, 2011–Sep. 30, 2011
Oct. 1, 2011–Dec. 31, 2011
Jan. 1, 2012–Mar. 31, 2012
Apr. 1, 2012–Jun. 30, 2012
Jul. 1, 2012–Sep. 30, 2012

September 11, 2023

10%
9%
9%
8%
8%
8%
8%
7%
7%
7%
6%
6%
7%
6%
7%
7%
8%
8%
9%
9%
9%
10%
10%
10%
10%
10%
10%
9%
8%
7%
8%
7%
6%
6%
6%
6%
6%
6%
6%
5%
6%
6%
5%
5%
5%
5%

812

25
23
23
21
21
21
21
19
19
19
17
65
67
65
67
19
21
21
23
23
23
25
25
25
25
25
25
71
69
67
69
19
17
17
17
17
17
17
17
15
17
17
15
63
63
63

579
577
577
575
575
575
575
573
573
573
571
619
621
619
621
573
575
575
577
577
577
579
579
579
579
579
579
625
623
621
623
573
571
571
571
571
571
571
571
569
571
571
569
617
617
617

Bulletin No. 2023–37

Oct. 1, 2012–Dec. 31, 2012
Jan. 1, 2013–Mar. 31, 2013
Apr. 1, 2013–Jun. 30, 2013
Jul. 1, 2013–Sep. 30, 2013
Oct. 1, 2013–Dec. 31, 2013
Jan. 1, 2014–Mar. 31, 2014
Apr. 1, 2014–Jun. 30, 2014
Jul. 1, 2014–Sep. 30, 2014
Oct. 1, 2014–Dec. 31, 2014
Jan. 1, 2015–Mar. 31, 2015
Apr. 1, 2015–Jun. 30, 2015
Jul. 1, 2015–Sep. 30, 2015
Oct. 1, 2015–Dec. 31, 2015
Jan. 1, 2016–Mar. 31, 2016
Apr. 1, 2016–Jun. 30, 2016
Jul. 1, 2016–Sep. 30, 2016
Oct. 1, 2016–Dec. 31, 2016
Jan. 1, 2017–Mar. 31, 2017
Apr. 1, 2017–Jun. 30, 2017
Jul. 1, 2017–Sep. 30, 2017
Oct. 1, 2017–Dec. 31, 2017
Jan. 1, 2018–Mar. 31, 2018
Apr. 1, 2018–Jun. 30, 2018
Jul. 1, 2018–Sep. 30, 2018
Oct. 1, 2018–Dec. 31, 2018
Jan. 1, 2019–Mar. 31, 2019
Apr. 1, 2019–Jun. 30, 2019
Jul. 1, 2019–Sep. 30, 2019
Oct. 1, 2019–Dec. 31, 2019
Jan. 1, 2020–Mar. 31, 2020
Apr. 1, 2020–Jun. 30, 2020
Jul. 1, 2020–Sep. 30, 2020
Oct. 1, 2020–Dec. 31, 2020
Jan. 1, 2021–Mar. 31, 2021
Apr. 1, 2021–Jun. 30, 2021
Jul. 1, 2021–Sep. 30, 2021
Oct. 1, 2021–Dec. 31, 2021
Jan. 1, 2022–Mar. 31, 2022
Apr. 1, 2022–Jun. 30, 2022
Jul. 1, 2022–Sep. 30, 2022
Oct. 1, 2022–Dec. 31, 2022
Jan. 1, 2023–Mar. 31, 2023
Apr. 1, 2023–Jun. 30, 2023
Jul. 1, 2023–Sep. 30, 2023
Oct. 1, 2023–Dec. 31, 2023

Bulletin No. 2023–37

5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
6%
6%
6%
6%
6%
6%
6%
6%
7%
7%
7%
8%
8%
7%
7%
7%
7%
5%
5%
5%
5%
5%
5%
5%
6%
7%
8%
9%
9%
9%
10%

813

63
15
15
15
15
15
15
15
15
15
15
15
15
63
65
65
65
17
17
17
17
17
19
19
19
21
21
19
19
67
67
63
63
15
15
15
15
15
17
19
21
23
23
23
25

617
569
569
569
569
569
569
569
569
569
569
569
569
617
619
619
619
571
571
571
571
571
573
573
573
575
575
573
573
621
621
617
617
569
569
569
569
569
571
573
575
577
577
577
579

September 11, 2023

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

September 11, 2023

814

Bulletin No. 2023–37

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%*

Bulletin No. 2023–37

815

September 11, 2023

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.

September 11, 2023

816

Bulletin No. 2023–37

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

1
2

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)).

The applicable dollar amount under section 402(g)(1)(B) is $22,500 for 2023.
The applicable dollar amount under section 414(v)(2)(B)(i) is $7,500 for 2023.

Bulletin No. 2023–37

817

September 11, 2023

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:
1. 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).

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).
3

September 11, 2023

818

Bulletin No. 2023–37

2.

3.

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).
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. 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.

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.
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.
5

Bulletin No. 2023–37

819

September 11, 2023

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)

Household income percentage of Federal poverty line:
Less than 150%
At least 150% but less than 200%
At least 200% but less than 250%
At least 250% but less than 300%
At least 300% but less than 400%
At least 400% and higher

.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

Initial percentage
0.00%
0.00%
2.00%
4.00%
6.00%
8.50%

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.

(3)(A) and § 1.36B-3(g) of the Income
Tax Regulations is:

Final percentage
0.00%
2.00%
4.00%
6.00%
8.50%
8.50%

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) 3174718 (not a toll-free number).

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/ResearchStatistics-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.
2

September 11, 2023

820

Bulletin No. 2023–37

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.

NAME OF ORGANIZATION
UNITED WAY OF SAN DIEGO

Bulletin No. 2023–37

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.

Effective
Date of
Revocation
03/26/2019

821

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.

LOCATION
STATEN ISLAND, NY

September 11, 2023

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.

NAME OF ORGANIZATION
HOME OF CHRIST
GREEN GATES ANIMAL SANCTUARY
HAITIAN SALESIEN ALUMNI ASSOCIATES
SUPERIOR TRAP AND GUN CLUB LTD
ARTS INSTITUTE INTERNATIONAL LLC

September 11, 2023

Effective
Date of
Revocation
N/A CHURCH
01/01/2020
01/01/2018
01/01/2019
01/01/2020

822

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.

LOCATION
SAN JOSE, CA
ROWE, NM
FLEETWOOD, NY
SUPERIOR, WI
HOUSTON, TX

Bulletin No. 2023–37

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).

Bulletin No. 2023–37

823

September 11, 2023

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.

Bulletin No. 2023–37

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.

i

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.

September 11, 2023

Numerical Finding List1
Bulletin 2023–37

Announcements:
2023-18, 2023-30 I.R.B. 366
2023-19, 2023-30 I.R.B. 367
2023-20, 2023-30 I.R.B. 368
2023-17, 2023-31 I.R.B. 412
2023-21, 2023-31 I.R.B. 413
2023-22, 2023-32 I.R.B. 429
2023-23, 2023-34 I.R.B. 569
2023-24, 2023-35 I.R.B. 661
2023-25, 2023-37 I.R.B. 821
2023-26, 2023-37 I.R.B. 822
2023-28, 2023-37 I.R.B. 823

Treasury Decisions:
9976, 2023-30 I.R.B. 354
9977, 2023-31 I.R.B. 375
9978, 2023-32 I.R.B. 415
9979, 2023-35 I.R.B. 602

Notices:
2023-29, 2023-29 I.R.B. 1
2023-45, 2023-29 I.R.B. 317
2023-47, 2023-29 I.R.B. 318
2023-37, 2023-30 I.R.B. 359
2023-50, 2023-30 I.R.B. 361
2023-51, 2023-30 I.R.B. 362
2023-54, 2023-31 I.R.B. 382
2023-53, 2023-32 I.R.B. 424
2023-55, 2023-32 I.R.B. 427
2023-57, 2023-34 I.R.B. 560
2023-58, 2023-34 I.R.B. 563
2023-59, 2023-34 I.R.B. 564
2023-52, 2023-35 I.R.B. 650
2023-61, 2023-35 I.R.B. 651
2023-62, 2023-37 I.R.B. 817

Proposed Regulations:
REG-124123-22, 2023-30 I.R.B. 369
REG-124930-21, 2023-31 I.R.B. 431
REG-120730-21, 2023-33 I.R.B. 491
REG-134420-10, 2023-34 I.R.B. 571
REG-109348-22, 2023-35 I.R.B. 662
REG-120727-21, 2023-36 I.R.B. 670

Revenue Procedures:
2023-31, 2023-25 I.R.B. 386
2023-26, 2023-33 I.R.B. 486
2023-27, 2023-35 I.R.B. 655
2023-17, 2023-37 I.R.B. 819

Revenue Rulings:
2023-13, 2023-32 I.R.B. 413
2023-14, 2023-33 I.R.B. 484
2023-15, 2023-34 I.R.B. 559
2023-15, 2023-34 I.R.B. 559
2023-16, 2023-37 I.R.B. 796
2023-17, 2023-37 I.R.B. 798

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.
1

September 11, 2023

ii

Bulletin No. 2023–37

Finding List of Current Actions on
Previously Published Items1
Bulletin 2023–37

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.
1

Bulletin No. 2023–37

iii

September 11, 2023

Internal Revenue Service
Washington, DC 20224
Official Business
Penalty for Private Use, $300

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.

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Source: Frix Law Library, https://www.frixlaw.com/law-library/documents/agency%3Airs%3Ac80a24d2b150159e. Public record. Not legal advice.