The US government, via the NTIA, issued an update that it intends to let the IANA contract expire at the end of September, which allows the IANA transition process to complete.

Update on the IANA Transition (copy)

Obama Administration to Privatize Internet Governance on Oct. 1

In the case of IP numbers, this will allow the new contract (SLA) between the RIRs and ICANN to be effective, such that ICANN will now manage the IANA number resource functions for the RIRs under contract from the RIRs rather than the USG.

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There are of course those who still opine about the risks associated with this transition, but my personal opinion is that if the Internet is to continue to be open and inclusive, it has to not have a single string tied to the US government.  That might not appease everyone who is a strong supporter of the US and USG, but if that single string remains, it only seeks to bifurcate the Internet into national nets for those countries which disagree in some manner with the US.