Treasury released final regulations today under Sections 245A(e) and 267A and proposed regulations under Sections 245A(e), 881, and 951A. Treasury previously released proposed regulations under Sections 245A(e) and 267A on December 20, 2018 (published December 28, 2018 in the Federal Register). Section 245A generally provides a 100% dividends received deduction (DRD) for the foreign-source portion of dividends received by a US corporation from foreign corporations with respect to which it is a 10% US shareholder. Section 245A(e), however, denies the DRD for any amount received from a controlled foreign corporation (CFC) for which the CFC receives a deduction or other benefit for foreign income tax purposes (a hybrid dividend). Section 267A disallows deductions for certain related-party payments in connection with hybrid transactions or made by or to hybrid entities.