Proposed Collection; Comment Request for Regulation Project, 60037 [E9-27757]
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Federal Register / Vol. 74, No. 222 / Thursday, November 19, 2009 / Notices
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[REG–208165–91; REG–209035–86]
Proposed Collection; Comment
Request for Regulation Project
erowe on DSK5CLS3C1PROD with NOTICES
AGENCY: Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
SUMMARY: The Department of the
Treasury, as part of its continuing effort
to reduce paperwork and respondent
burden, invites the general public and
other Federal agencies to take this
opportunity to comment on proposed
and/or continuing information
collections, as required by the
Paperwork Reduction Act of 1995,
Public Law 104–13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is
soliciting comments concerning existing
final regulations, REG–208165–91 (TD
8770), Certain Transfers of Stock or
Securities by U.S. Persons to Foreign
Corporations and Related Reporting
Requirements; and REG–209035–86 (TD
8862), Stock Transfer Rules
(§§ 1.367(a)–8 and 1.367(b)–1).
DATES: Written comments should be
received on or before January 19, 2010
to be assured of consideration.
ADDRESSES: Direct all written comments
to R. Joseph Durbala, Internal Revenue
Service, room 6129, 1111 Constitution
Avenue, NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the regulations should be
directed to Allan Hopkins, at (202) 622–
6665, or at Internal Revenue Service,
room 6129, 1111 Constitution Avenue,
NW., Washington, DC 20224, or through
the Internet at Allan.M.Hopkins@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: REG–208165–91 (TD 8770),
Certain Transfers of Stock or Securities
by U.S. Persons to Foreign Corporations
and Related Reporting Requirements;
and REG–209035–86 (TD 8862), Stock
Transfer Rules.
OMB Number: 1545–1271.
Regulation Project Number: REG–
208165–91 and REG–209035–86.
Abstract: A United States entity must
generally file a gain recognition
agreement with the IRS in order to defer
gain on a Code section 367(a) transfer of
stock to a foreign corporation, and must
file a notice with the IRS if it realizes
any income in a Code section 367(b)
exchange. These regulations provide
guidance and reporting requirements
related to these transactions to ensure
compliance with the respective Code
sections.
VerDate Nov<24>2008
15:22 Nov 18, 2009
Jkt 220001
Current Actions: There is no change to
these existing regulations.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
580.
Estimated Time per Respondent: 4
hours, 7 minutes.
Estimated Total Annual Burden
Hours: 2,390.
The following paragraph applies to all
of the collections of information covered
by this notice:
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collection of information
displays a valid OMB control number.
Books or records relating to a collection
of information must be retained as long
as their contents may become material
in the administration of any internal
revenue law. Generally, tax returns and
tax return information are confidential,
as required by 26 U.S.C. 6103.
Request for Comments: Comments
submitted in response to this notice will
be summarized and/or included in the
request for OMB approval. All
comments will become a matter of
public record. Comments are invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information shall have practical utility;
(b) the accuracy of the agency’s estimate
of the burden of the collection of
information; (c) ways to enhance the
quality, utility, and clarity of the
information to be collected; (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology; and (e) estimates of capital
or start-up costs and costs of operation,
maintenance, and purchase of services
to provide information.
Approved: November 12, 2009.
R. Joseph Durbala,
Supervisory Tax Analyst.
[FR Doc. E9–27757 Filed 11–18–09; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[REG–115795–97]
Proposed Collection; Comment
Request for Regulation Project
AGENCY: Internal Revenue Service (IRS),
Treasury.
PO 00000
Frm 00080
Fmt 4703
Sfmt 4703
60037
ACTION: Notice and request for
comments.
SUMMARY: The Department of the
Treasury, as part of its continuing effort
to reduce paperwork and respondent
burden, invites the general public and
other Federal agencies to take this
opportunity to comment on proposed
and/or continuing information
collections, as required by the
Paperwork Reduction Act of 1995,
Public Law 104–13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is
soliciting comments concerning an
existing final regulation, REG–115795–
97 (TD 8870), General Rules for Making
and Maintaining Qualified Electing
Fund Elections (§§ 1.1295–1 and
1.1295–3).
DATES: Written comments should be
received on or before January 19, 2010
to be assured of consideration.
ADDRESSES: Direct all written comments
to R. Joseph Durbala, Internal Revenue
Service, room 6129, 1111 Constitution
Avenue, NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the regulation should be
directed to Allan Hopkins, (202) 622–
6665, or at Internal Revenue Service,
room 6129, 1111 Constitution Avenue,
NW., Washington, DC 20224, or through
the Internet at Allan.M.Hopkins@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: General Rules for Making and
Maintaining Qualified Electing Fund
Elections.
OMB Number: 1545–1555.
Regulation Project Number: REG–
115795–97.
Abstract: This regulation provides
guidance to a passive foreign investment
company (PFIC) shareholder that makes
the election under Code section 1295 to
treat the PFIC as a qualified electing
fund (QEF), and for PFIC shareholders
that wish to make a section 1295
election that will apply on a retroactive
basis. Guidance is also provided on
revoking such elections.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households, business or other for-profit
organization, and not-for-profit
institutions.
Estimated Number of Respondents:
1,290.
Estimated Time per Respondent: 29
minutes.
Estimated Total Annual Burden
Hours: 623.
The following paragraph applies to all
of the collections of information covered
by this notice:
E:\FR\FM\19NON1.SGM
19NON1
]]>Agencies
[Federal Register Volume 74, Number 222 (Thursday, November 19, 2009)]
[Notices]
[Page 60037]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-27757]
[[Page 60037]]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
[REG-208165-91; REG-209035-86]
Proposed Collection; Comment Request for Regulation Project
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: The Department of the Treasury, as part of its continuing
effort to reduce paperwork and respondent burden, invites the general
public and other Federal agencies to take this opportunity to comment
on proposed and/or continuing information collections, as required by
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning
existing final regulations, REG-208165-91 (TD 8770), Certain Transfers
of Stock or Securities by U.S. Persons to Foreign Corporations and
Related Reporting Requirements; and REG-209035-86 (TD 8862), Stock
Transfer Rules (Sec. Sec. 1.367(a)-8 and 1.367(b)-1).
DATES: Written comments should be received on or before January 19,
2010 to be assured of consideration.
ADDRESSES: Direct all written comments to R. Joseph Durbala, Internal
Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the regulations should be directed to Allan Hopkins, at (202)
622-6665, or at Internal Revenue Service, room 6129, 1111 Constitution
Avenue, NW., Washington, DC 20224, or through the Internet at
Allan.M.Hopkins@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: REG-208165-91 (TD 8770), Certain Transfers of Stock or
Securities by U.S. Persons to Foreign Corporations and Related
Reporting Requirements; and REG-209035-86 (TD 8862), Stock Transfer
Rules.
OMB Number: 1545-1271.
Regulation Project Number: REG-208165-91 and REG-209035-86.
Abstract: A United States entity must generally file a gain
recognition agreement with the IRS in order to defer gain on a Code
section 367(a) transfer of stock to a foreign corporation, and must
file a notice with the IRS if it realizes any income in a Code section
367(b) exchange. These regulations provide guidance and reporting
requirements related to these transactions to ensure compliance with
the respective Code sections.
Current Actions: There is no change to these existing regulations.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 580.
Estimated Time per Respondent: 4 hours, 7 minutes.
Estimated Total Annual Burden Hours: 2,390.
The following paragraph applies to all of the collections of
information covered by this notice:
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collection of
information displays a valid OMB control number. Books or records
relating to a collection of information must be retained as long as
their contents may become material in the administration of any
internal revenue law. Generally, tax returns and tax return information
are confidential, as required by 26 U.S.C. 6103.
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in the request for OMB approval. All
comments will become a matter of public record. Comments are invited
on: (a) Whether the collection of information is necessary for the
proper performance of the functions of the agency, including whether
the information shall have practical utility; (b) the accuracy of the
agency's estimate of the burden of the collection of information; (c)
ways to enhance the quality, utility, and clarity of the information to
be collected; (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated
collection techniques or other forms of information technology; and (e)
estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Approved: November 12, 2009.
R. Joseph Durbala,
Supervisory Tax Analyst.
[FR Doc. E9-27757 Filed 11-18-09; 8:45 am]
BILLING CODE 4830-01-P
