RP-2018-54: Mortgage backed securities

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October 16, 2018

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Issue Number: RP-2018-54

Inside This Issue

Revenue Procedure 2018-54 provides guidance for taxpayers that hold investments in one or more segregated asset accounts on which variable contracts as defined in section 817 of the Internal Revenue Code are based. The guidance allows taxpayers to elect to treat certain mortgage-backed securities as having deemed issuers for purposes of the diversification requirements of section 817(h).

Revenue Procedure 2018-54 will be in IRB: 2018-45, dated 11/05/2018.

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