The United States has recently proposed adding an additional technical requirement to its already complex domestic rules regulating conduit financing arrangements. Because the US domestic rules sometimes prevail even if seemingly contradictory with tax treaties, investors into the United States must take into consideration both treaty limitations and US domestic limitations in structuring multinational investments into the United States. In addition to existing rules, investors may wish to take into consideration recently proposed regulations that extend the existing rules to multiple-party financing arrangements that are effected through disregarded entities.