Proposed resolution (April, 2013):

Add the following as a new paragraph following 11.4.5.3 [class.copy.ctor] paragraph 1:

When an object of class type X is passed to or returned from a function, if X has a trivial, accessible copy or move constructor that is not deleted, and X has no non-trivial copy constructors, move constructors, or destructors, implementations are permitted to perform an additional copy or move of the object using the trivial constructor (even if it would not be selected by overload resolution to perform a copy or move of the object). [Note: This latitude is granted to allow objects of class type to be passed to or returned from functions in registers. —end note]

See also issue 1928.