This notice sets forth updates on the corporate bond monthly yield curve, the corresponding spot segment rates for August 2018 used under § 417(e)(3)(D), the 24-month average segment rates applicable for September 2018, and the 30-year Treasury rates, as reflected by the application of § 430(h)(2)(C)(iv).

Notice 2018–74 modifies the two safe harbor explanations in Notice 2014–74, 2014–50 I.R.B. 937, that may be used to satisfy the requirement under § 402(f) of the Internal Revenue Code that certain information be provided to recipients of eligible rollover distributions. The safe harbor explanations as modified by this notice take into consideration certain legislative changes and recent guidance, including changes related to qualified plan loan offsets (as defined in section 13613 of the Tax Cuts and Jobs Act of 2017, P.L. 115–97) and guidance issued on self-certification of eligibility for a waiver of the deadline for completing a rollover (described in Rev. Proc. 2016–47, 2016–37 I.R.B. 346), and include other clarifying changes.

Fringe benefits aircraft valuation formula. For purposes of section 1.61–21(g) of the Income Tax Regulations, relating to the rule for valuing non-commercial flights on employer-provided aircraft, the Standard Industry Fare Level (SIFL) cents-per-mile rates and terminal charge in effect for the second half of 2018 are set forth.

This revenue procedure provides guidance for real estate investment trusts (REITs) regarding the treatment of certain foreign income inclusions for purposes of the 95 percent gross income qualification test of section 856(c)(2) of the Internal Revenue Code.

This Notice announces that Treasury and the IRS intent to amend regulations under section 871(m) to delay the effective/applicability date of certain rules in those final regulations. This Notice also extends the phase-in period provided in Notice 2017–42, 2017–34 I.R.B. 212, and Notice 2018–5, 2018–6 I.R.B. 341, for certain provides of the section 871(m) regulations.