With the effective date of the Section 385 regulations fast approaching on January 1, 2018, and faced with the need to comply with complex documentation rules related to intercompany loans, companies are anxiously awaiting direction from Treasury regarding whether or not the Section 385 regulations will be repealed.  

In the absence of any definitive statements by Treasury, some companies have already adopted the regulations while many others are hoping for news that they will not need to worry about implementing the Section 385 regulations.  

Companies should at least ensure they are prepared to conform with the documentation rules in the event they actually do go into effect on January 1, 2018.