Bankers Association in Switzerland requests clarification from U.S. Department of the Treasury

On 21 December 2018, the Swiss Bankers Association sent a request to the U.S. Department of Treasury and the Internal Revenue Service in the U.S. (“IRS”) (Link). They request the IRS to clarify that “accidental” Controlled Foreign Corporations (“CFCs”) created solely through the repeal of Internal Revenue Code (IRC) Section 958(b)(4):
The Bankers Association requests the IRS to issue a respective guidance.