Rev. Rul. 2021-5 — Federal rates; adjusted federal rates; adjusted federal long-term rate, and the long-term tax exempt rate.

This revenue ruling provides various prescribed rates for federal income tax purposes for March 2021 (the current month). Table 1 contains the short-term, mid-term, and long-term applicable federal rates (AFR) for the current month for purposes of section 1274(d) of the Internal Revenue Code. Table 2 contains the short-term, mid-term, and long-term adjusted applicable federal rates (adjusted AFR) for the current month for purposes of section 1288(b). Table 3 sets forth the adjusted federal long-term rate and the long-term tax-exempt rate described in section 382(f). Table 4 contains the appropriate percentages for determining the low-income housing credit described in section 42(b)(1) for buildings placed in service during the current month. However, under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, shall not be less than 9%. Finally, Table 5 contains the federal rate for determining the present value of an annuity, an interest for life or for a term of years, or a remainder or a reversionary interest for purposes of section 7520.

REV. RUL. 2021-5 TABLE 1 Applicable Federal Rates (AFR) for March 2021 Period for Compounding

	Annual	Semiannual	Quarterly	Monthly
		Short-term
AFR	0.11%	0.11%	0.11%	0.11%
110% AFR	0.12%	0.12%	0.12%	0.12%
120% AFR	0.13%	0.13%	0.13%	0.13%
130% AFR	0.14%	0.14%	0.14%	0.14%
		Mid-term
AFR	0.62%	0.62%	0.62%	0.62%
110% AFR	0.68%	0.68%	0.68%	0.68%
120% AFR	0.74%	0.74%	0.74%	0.74%
130% AFR	0.81%	0.81%	0.81%	0.81%
150% AFR	0.93%	0.93%	0.93%	0.93%
175% AFR	1.09%	1.09%	1.09%	1.09%
		Long-term
AFR	1.62%	1.61%	1.61%	1.60%
110% AFR	1.78%	1.77%	1.77%	1.76%
120% AFR	1.94%	1.93%	1.93%	1.92%
130% AFR	2.10%	2.09%	2.08%	2.08%

REV. RUL. 2021-5 TABLE 2 Adjusted AFR for March 2021 Period for Compounding

	Annual	Semiannual	Quarterly	Monthly
Short-term adjusted AFR	0.08%	0.08%	0.08%	0.08%
Mid-term adjusted AFR	0.47%	0.47%	0.47%	0.47%
Long-term adjusted AFR	1.22%	1.22%	1.22%	1.22%

REV. RUL. 2021-5 TABLE 3 Rates Under Section 382 for March 2021

Adjusted federal long-term rate for the current month	1.22%
Long-term tax-exempt rate for ownership changes during the current month (the highest of the adjusted federal long-term rates for the current month and the prior two months.)	1.22%

REV. RUL. 2021-5 TABLE 4 Appropriate Percentages Under Section 42(b)(1) for March 2021

Note: Under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, shall not be less than 9%.
Appropriate percentage for the 70% present value low-income housing credit	7.26%
Appropriate percentage for the 30% present value low-income housing credit	3.11%

REV. RUL. 2021-5 TABLE 5 Rate Under Section 7520 for March 2021

Applicable federal rate for determining the present value of an annuity, an interest for life or a term of years, or a remainder or reversionary interest

.8%