Notice 2025-71: Interim Guidance Regarding Interest on Loans Secured by Rural or Agricultural Real Property under Section 139L of the Internal Revenue Code

Notice 2025-71 provides interim rules under section 139L to clarify the partial exclusion from gross income of interest received by qualified lenders on loans secured by rural or agricultural property. The interim guidance defines key terms in section 139L and establishes standards for determining whether a loan is secured by rural or agricultural property. The interim guidance includes a safe harbor, which allows qualified lenders to treat a loan as secured by rural or agricultural property if certain parameters are met. The interim guidance also provides rules regarding refinancings.

Notice 2025-71 will be in IRB: 2025-50, dated: December 8, 2025

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