26 CFR §53.4965-4

1. (a)In general. For purposes of sections 4965 and 6033(a)(2), a tax-exempt entity is a party to a prohibited tax shelter transaction if the entity—
   1. (1)Facilitates a prohibited tax shelter transaction by reason of its tax-exempt, tax indifferent or tax-favored status; or
   2. (2)Is identified in published guidance, by type, class or role, as a party to a prohibited tax shelter transaction.
2. (b)Published guidance may identify which tax-exempt entities, by type, class or role, will not be treated as a party to a prohibited tax shelter transaction.
3. (c)Example. The following example illustrates the principle of paragraph (a)(1) of this section:
4. (d)Effective/applicability dates. See § 53.4965-9 for the discussion of the relevant effective and applicability dates.