Proposed Information Collection; Comment Request, 14598-14600 [2012-5831]
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14598
Federal Register / Vol. 77, No. 48 / Monday, March 12, 2012 / Notices
Electronic and Facsimile Availability
This document and additional
information concerning OFAC are
available from OFAC’s Web site
(www.treas.gov/ofac) or via facsimile
through a 24-hour fax-on-demand
service, tel.: 202/622–0077.
pmangrum on DSK3VPTVN1PROD with NOTICES
Background
On September 23, 2001, the President
issued Executive Order 13224 (the
‘‘Order’’) pursuant to the International
Emergency Economic Powers Act, 50
U.S.C. 1701–1706, and the United
Nations Participation Act of 1945, 22
U.S.C. 287c. In the Order, the President
declared a national emergency to
address grave acts of terrorism and
threats of terrorism committed by
foreign terrorists, including the
September 11, 2001 terrorist attacks in
New York, Pennsylvania, and at the
Pentagon. The Order imposes economic
sanctions on persons who have
committed, pose a significant risk of
committing, or support acts of terrorism.
The President identified in the Annex to
the Order, as amended by Executive
Order 13268 of July 2, 2002, 13
individuals and 16 entities as subject to
the economic sanctions. The Order was
further amended by Executive Order
13284 of January 23, 2003, to reflect the
creation of the Department of Homeland
Security.
Section 1 of the Order blocks, with
certain exceptions, all property and
interests in property that are in or
hereafter come within the United States
or the possession or control of United
States persons, of: (1) Foreign persons
listed in the Annex to the Order; (2)
foreign persons determined by the
Secretary of State, in consultation with
the Secretary of the Treasury, the
Secretary of the Department of
Homeland Security and the Attorney
General, to have committed, or to pose
a significant risk of committing, acts of
terrorism that threaten the security of
U.S. nationals or the national security,
foreign policy, or economy of the United
States; (3) persons determined by the
Director of OFAC, in consultation with
the Departments of State, Homeland
Security and Justice, to be owned or
controlled by, or to act for or on behalf
of those persons listed in the Annex to
the Order or those persons determined
to be subject to subsection 1(b), 1(c), or
1(d)(i) of the Order; and (4) except as
provided in section 5 of the Order and
after such consultation, if any, with
foreign authorities as the Secretary of
State, in consultation with the Secretary
of the Treasury, the Secretary of the
Department of Homeland Security and
the Attorney General, deems
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Jkt 226001
appropriate in the exercise of his
discretion, persons determined by the
Director of OFAC, in consultation with
the Departments of State, Homeland
Security and Justice, to assist in,
sponsor, or provide financial, material,
or technological support for, or financial
or other services to or in support of,
such acts of terrorism or those persons
listed in the Annex to the Order or
determined to be subject to the Order or
to be otherwise associated with those
persons listed in the Annex to the Order
or those persons determined to be
subject to subsection 1(b), 1(c), or 1(d)(i)
of the Order.
On March 2, 2012 the Director of
OFAC, in consultation with the
Departments of State, Homeland
Security, Justice and other relevant
agencies, designated, pursuant to one or
more of the criteria set forth in
subsections 1(b), 1(c) or 1(d) of the
Order, 1 individual whose property and
interests in property are blocked
pursuant to Executive Order 13224.
The listing for this individual on
OFAC’s list of Specially Designated
Nationals and Blocked Persons appears
as follows:
Individual
1. ACHEKZAI, Abdul Samad (a.k.a.
SAMAD, Abdul), Balochistan Province,
Pakistan; DOB 1970; nationality
Afghanistan (individual) [SDGT].
Dated: March 2, 2012.
Adam J. Szubin,
Director, Office of Foreign Assets Control.
[FR Doc. 2012–5828 Filed 3–9–12; 8:45 am]
BILLING CODE 4810–AL–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Information Collection;
Comment Request
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
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)).
DATES: Written comments should be
received on or before May 11, 2012 to
be assured of consideration.
SUMMARY:
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Direct all written comments
to Yvette B. Lawrence, Internal Revenue
Service, Room 6129, 1111 Constitution
Avenue NW., Washington, DC 20224.
Please send separate comments for
each specific information collection
listed below. You must reference the
information collection’s title, form
number, reporting or record-keeping
requirement number, and OMB number
(if any) in your comment.
FOR FURTHER INFORMATION CONTACT: To
obtain additional information, or copies
of the information collection and
instructions, or copies of any comments
received, contact Elaine Christophe, at
(202) 622–3179, or at Internal Revenue
Service, room 6129, 1111 Constitution
Avenue NW., Washington, DC 20224, or
through the Internet, at
Elaine.H.Christophe@irs.gov.
ADDRESSES:
SUPPLEMENTARY INFORMATION:
Request for Comments
The Department of the Treasury and
the Internal Revenue Service, as part of
their continuing effort to reduce
paperwork and respondent burden,
invite the general public and other
Federal agencies to take this
opportunity to comment on the
proposed or continuing information
collections listed below in this notice,
as required by the Paperwork Reduction
Act of 1995, (44 U.S.C. 3501 et seq.).
Request for Comments: Comments
submitted in response to this notice will
be summarized and/or included in our
request for Office of Management and
Budget (OMB) approval of the relevant
information collection. All comments
will become a matter of public record.
Please do not include any confidential
or inappropriate material in your
comments.
We invite comments on: (a) Whether
the collection of information is
necessary for the proper performance of
the agency’s functions, including
whether the information has 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
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 the requested information.
Information Collections Open for
Comment
Currently, the IRS is seeking
comments concerning the following
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pmangrum on DSK3VPTVN1PROD with NOTICES
Federal Register / Vol. 77, No. 48 / Monday, March 12, 2012 / Notices
forms, and reporting and record-keeping
requirements:
Title: Underpayment of Estimated Tax
by Individuals, Estate, and Trusts (Form
2210), and Underpayment of Estimated
Tax by Farmers and Fishermen (Form
2210–F).
OMB Number: 1545–0140.
Form Number: 2210 AND 2210–F.
Abstract: Internal Revenue Code
section 6654 imposes a penalty for
failure to pay estimated tax. Form 2210
is used by individuals, estates, and
trusts and Form 2210–F is used by
farmers and fisherman to determine
whether they are subject to the penalty
and to compute the penalty if it applies.
The Service uses this information to
determine whether taxpayers are subject
to the penalty, and to verify the penalty
amount.
Current Actions: There is no change to
these existing forms.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households, business or other for-profit
organizations, and farms.
Estimated Number of Respondents:
599,999.
Estimated Time per Respondent: 4
hrs.
Estimated Total Annual Burden
Hours: 2,405,663.
Title: Guidance Regarding Charitable
Remainder Trusts and Special Valuation
Rules for Transfers of Interests and
Trusts.
OMB Number: 1545–1536.
Regulation Project Number: REG–
209823–96 (TD 8791 (Final)).
Abstract: This regulation provides
guidance relating to charitable
remainder trusts and to special
valuation rules for transfers of interests
in trusts. Section 1.664–1(a)(7) of the
regulation provides that either an
independent trustee or qualified
appraiser using a qualified appraisal
must value a charitable remainder
trust’s assets that do not have an
objective, ascertainable value.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of a
currently approved collection.
Affected Public: Businesses or other
for-profit organizations.
Estimated Number of Respondents:
150.
Estimated Time per Respondent: 30
minutes.
Estimated Total Annual Burden
Hours: 75.
Title: Disqualified Corporate Interest
Expense Disallowed Under Section
163(j) and Related Information.
OMB Number: 1545–2127.
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14:55 Mar 09, 2012
Jkt 226001
Form Number: Form 8926.
Abstract: Pursuant to a Congressional
directive to determine whether the
earnings stripping limitation rule of
Code section 163(j) was effective in
curbing the erosion of the U.S. tax base,
INTL, LMSB, and the Treasury sought to
create Form 8926, Disqualified
Corporate Interest Expense Disallowed
Under Section 163(j) and Related
Information.
Current Actions: There is no change
in the paperwork burden previously
approved by OMB. This form is being
submitted for renewal purposes only.
Type of Review: Extension of a
currently approved collection.
Affected Public: Businesses and other
for-profit organizations.
Estimated Number of Respondents:
500,000.
Estimated Time per Respondent: 15
hours 12 minutes.
Estimated Total Annual Burden
Hours: 7,560,000.
Title: Information Return of a 25%
Foreign-Owned U.S. Corporation or a
Foreign Corporation Engaged in a U.S.
Trade or Business.
OMB Number: 1545–0805.
Form Number: 5472.
Abstract: Form 5472 is used to report
information about transactions between
a U.S. corporation that is 25% foreign
owned or a foreign corporation that is
engaged in a U.S. trade or business and
related foreign parties. The IRS uses
Form 5472 to determine if inventory or
other costs deducted by the U.S. or
foreign corporation are correct.
Current Actions: There are no changes
being made to the form at this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Responses:
103,784.
Estimated Time per Response: 24 hrs.
31 min.
Estimated Total Annual Burden
Hours: 2,544,784.
Title: Conclusive Presumption of
Worthlessness of Debts Held by Banks.
OMB Number: 1545–1254.
Regulation Project Number: FI–34–91
(TD 8390 (Final)).
Abstract: Section 1.166–2(d)(3) of this
regulation allows a bank to elect to
determine the worthlessness of debts by
using a method of accounting that
conforms worthlessness for tax purposes
to worthlessness for regulatory
purposes, and establish a conclusive
presumption of worthlessness. An
election under this regulation is treated
as a change in accounting method.
Current Actions: There is no change to
these existing regulations.
PO 00000
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14599
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
200.
Estimated Time per Respondent: 15
minutes.
Estimated Total Annual Burden
Hours: 50.
Title: Reporting Requirements for
Recipients of Points Paid on Residential
Mortgages.
OMB Number: 1545–1380.
Regulation Project Number: IA–17–90
(TD 8571(Final)).
Abstract: These regulations require
the reporting of certain information
relating to payments of mortgage
interest. Taxpayers must separately state
on Form 1098 the amount of points and
the amount of interest (other than
points) received during the taxable year
on a single mortgage and must provide
to the payer of the points a separate
statement setting forth the information
being reported to the IRS.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
37,644.
Estimated Time per Respondent: 7
hrs., 31 minutes.
Estimated Total Annual Burden
Hours: 283,056.
Title: Form 5310, Application for
Determination for Terminating Plan,
and Form 6088, Distributable Benefits
from Employee Pension Benefit Plans.
OMB Control Number: 1545–0202.
Form Number: Forms 5310 and 6088.
Abstract: Employers who have
qualified deferred compensation plans
can take an income tax deduction for
contributions to their plans. Form 5310
is used to request an IRS determination
letter about the plan’s qualification
status (qualified or non-qualified) under
Internal Revenue Code section 401(a).
Form 6088 is used to show the amounts
of distributable benefits to participants
in the plan.
Current Actions: The information
collection, estimated number of
respondents, and estimated total annual
burden hours remain unchanged.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Responses:
30,000.
Estimated Time per Response: 60
hours, 46 minutes.
E:\FR\FM\12MRN1.SGM
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14600
Federal Register / Vol. 77, No. 48 / Monday, March 12, 2012 / Notices
Estimated Total Annual Burden
Hours: 1,813,650.
Title: Guidance on Passive Foreign
(PFIC) Purging Elections.
OMB Number: 1545–1965.
Regulation Project Number: REG–
133446–03.
Abstract: The IRS needs the
information to substantiate the
taxpayer’s computation of the taxpayer’s
share of the PFIC’s post-1986 earning
and profits.
Current Actions: The information
collection, estimated number of
respondents, and estimated total annual
burden hours remain unchanged.
Type of Review: Extension of
currently approved collection.
Affected Public: Individuals or
households, business or other for-profit
organizations.
Estimated Number of Respondents:
250.
Estimated Time per Respondent: 1
hour.
Estimated Total Annual Burden
Hours: 250.
Title: Notice of Plan Merger or
Consolidation, Spinoff, or Transfer of
Plan Assets or Liabilities; Notice of
Qualified Separate Lines of Business.
OMB Number: 1545–1225.
Form Number: 5310–A.
Abstract: Internal Revenue Code
section 6058(b) requires plan
administrators to notify IRS of any plan
mergers, consolidations, spinoffs, or
transfers of plan assets or liabilities to
another plan. Code section 414(r)
requires employers to notify IRS of
separate lines of business for their
deferred compensation plans. Form
5310–A is used to make these
notifications.
Current Actions: The information
collection, estimated number of
respondents, and estimated total annual
burden hours remain unchanged.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
15,000.
Estimated Time per Respondent: 10
hours, 35 minutes.
Estimated Total Annual Burden
Hours: 158,800.
Title: Information Return for Real
Estate Mortgage Investment Conduits
(REMICs) and Issuers of Collateralized
Debt Obligations.
OMB Number: 1545–1099.
Form Number: 8811.
Abstract: Current regulations require
real estate mortgage investment
conduits (REMICs) to provide Forms
1099 to true holders of interests in these
investment vehicles. Because of the
complex computations required at each
level and the potential number of
nominees, the ultimate investor may not
receive a Form 1099 and other
information necessary to prepare their
tax return in a timely fashion. Form
8811 collects information for publishing
by the IRS so that brokers can contact
REMICs to request the financial
information and timely issue Forms
1099 to holders.
Current Actions: There are no changes
being made to Form 8811 at this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Responses:
1,000.
Estimated Time per Response: 4 hr.,
23 min.
Estimated Total Annual Burden
Hours: 4,380.
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.
Approved: March 5, 2012.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2012–5831 Filed 3–9–12; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
United States Mint
Pricing for 2012 Kennedy Half-Dollar
Bags and Rolls, Bronze Medals, the
First Spouse Bronze Medal Set and the
Birth Set
United States Mint, Department
of the Treasury.
ACTION: Notice.
AGENCY:
The United States Mint is
announcing 2012 pricing for Kennedy
Half-Dollar bags and rolls, bronze
medals, the First Spouse Bronze Medal
Set and the Birth Set.
SUMMARY:
Product
Retail price
Kennedy Half-Dollar Bags ...............................................................................................................................................................
Kennedy Half-Dollar Two-Roll Set ...................................................................................................................................................
Large Bronze Medals ......................................................................................................................................................................
Small Bronze Medals .......................................................................................................................................................................
First Spouse Bronze Medal Set ......................................................................................................................................................
Birth Set ...........................................................................................................................................................................................
B. B.
Craig, Associate Director for Sales and
Marketing; United States Mint; 801 9th
Street NW., Washington, DC 20220; or
call 202–354–7500.
FOR FURTHER INFORMATION CONTACT:
pmangrum on DSK3VPTVN1PROD with NOTICES
Authority: 31 U.S.C. 5111, 5112 & 9701.
Dated: March 6, 2012.
Richard A. Peterson,
Deputy Director, United States Mint.
[FR Doc. 2012–5871 Filed 3–9–12; 8:45 am]
BILLING CODE P
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14:55 Mar 09, 2012
Jkt 226001
DEPARTMENT OF VETERANS
AFFAIRS
Public Availability of the Department of
Veterans Affairs Fiscal Year (FY) 2011
Service Contract Inventory
AGENCY:
Department of Veterans Affairs.
Notice of Public Availability of
FY 2011 Service Contract Inventories.
ACTION:
In accordance with Section
743 of Division C of the Consolidated
Appropriations Act of 2010 (Public Law
111–117), Department of Veterans
Affairs (VA) is publishing this notice to
SUMMARY:
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139.95
32.95
39.95
6.95
16.95
19.95
advise the public of the availability of
the FY 2011 Service Contract Inventory.
The inventory provides information on
VA service contract actions over
$25,000 made in FY 2011. The
information is organized by function to
show how contracted resources are
distributed throughout the agency. The
inventory has been developed in
accordance with guidance issued on
November 5, 2010, and updated on
December 19, 2011, by the Office of
Management and Budget’s Office of
Federal Procurement Policy (OFPP).
OFPP’s guidance is available at https://
www.whitehouse.gov/sites/default/files/
E:\FR\FM\12MRN1.SGM
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]]>Agencies
[Federal Register Volume 77, Number 48 (Monday, March 12, 2012)]
[Notices]
[Pages 14598-14600]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-5831]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Information Collection; Comment Request
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)).
DATES: Written comments should be received on or before May 11, 2012 to
be assured of consideration.
ADDRESSES: Direct all written comments to Yvette B. Lawrence, Internal
Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington,
DC 20224.
Please send separate comments for each specific information
collection listed below. You must reference the information
collection's title, form number, reporting or record-keeping
requirement number, and OMB number (if any) in your comment.
FOR FURTHER INFORMATION CONTACT: To obtain additional information, or
copies of the information collection and instructions, or copies of any
comments received, contact Elaine Christophe, at (202) 622-3179, or at
Internal Revenue Service, room 6129, 1111 Constitution Avenue NW.,
Washington, DC 20224, or through the Internet, at
Elaine.H.Christophe@irs.gov.
SUPPLEMENTARY INFORMATION:
Request for Comments
The Department of the Treasury and the Internal Revenue Service, as
part of their continuing effort to reduce paperwork and respondent
burden, invite the general public and other Federal agencies to take
this opportunity to comment on the proposed or continuing information
collections listed below in this notice, as required by the Paperwork
Reduction Act of 1995, (44 U.S.C. 3501 et seq.).
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in our request for Office of
Management and Budget (OMB) approval of the relevant information
collection. All comments will become a matter of public record. Please
do not include any confidential or inappropriate material in your
comments.
We invite comments on: (a) Whether the collection of information is
necessary for the proper performance of the agency's functions,
including whether the information has 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 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 the
requested information.
Information Collections Open for Comment
Currently, the IRS is seeking comments concerning the following
[[Page 14599]]
forms, and reporting and record-keeping requirements:
Title: Underpayment of Estimated Tax by Individuals, Estate, and
Trusts (Form 2210), and Underpayment of Estimated Tax by Farmers and
Fishermen (Form 2210-F).
OMB Number: 1545-0140.
Form Number: 2210 AND 2210-F.
Abstract: Internal Revenue Code section 6654 imposes a penalty for
failure to pay estimated tax. Form 2210 is used by individuals,
estates, and trusts and Form 2210-F is used by farmers and fisherman to
determine whether they are subject to the penalty and to compute the
penalty if it applies. The Service uses this information to determine
whether taxpayers are subject to the penalty, and to verify the penalty
amount.
Current Actions: There is no change to these existing forms.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households, business or other for-
profit organizations, and farms.
Estimated Number of Respondents: 599,999.
Estimated Time per Respondent: 4 hrs.
Estimated Total Annual Burden Hours: 2,405,663.
Title: Guidance Regarding Charitable Remainder Trusts and Special
Valuation Rules for Transfers of Interests and Trusts.
OMB Number: 1545-1536.
Regulation Project Number: REG-209823-96 (TD 8791 (Final)).
Abstract: This regulation provides guidance relating to charitable
remainder trusts and to special valuation rules for transfers of
interests in trusts. Section 1.664-1(a)(7) of the regulation provides
that either an independent trustee or qualified appraiser using a
qualified appraisal must value a charitable remainder trust's assets
that do not have an objective, ascertainable value.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of a currently approved collection.
Affected Public: Businesses or other for-profit organizations.
Estimated Number of Respondents: 150.
Estimated Time per Respondent: 30 minutes.
Estimated Total Annual Burden Hours: 75.
Title: Disqualified Corporate Interest Expense Disallowed Under
Section 163(j) and Related Information.
OMB Number: 1545-2127.
Form Number: Form 8926.
Abstract: Pursuant to a Congressional directive to determine
whether the earnings stripping limitation rule of Code section 163(j)
was effective in curbing the erosion of the U.S. tax base, INTL, LMSB,
and the Treasury sought to create Form 8926, Disqualified Corporate
Interest Expense Disallowed Under Section 163(j) and Related
Information.
Current Actions: There is no change in the paperwork burden
previously approved by OMB. This form is being submitted for renewal
purposes only.
Type of Review: Extension of a currently approved collection.
Affected Public: Businesses and other for-profit organizations.
Estimated Number of Respondents: 500,000.
Estimated Time per Respondent: 15 hours 12 minutes.
Estimated Total Annual Burden Hours: 7,560,000.
Title: Information Return of a 25% Foreign-Owned U.S. Corporation
or a Foreign Corporation Engaged in a U.S. Trade or Business.
OMB Number: 1545-0805.
Form Number: 5472.
Abstract: Form 5472 is used to report information about
transactions between a U.S. corporation that is 25% foreign owned or a
foreign corporation that is engaged in a U.S. trade or business and
related foreign parties. The IRS uses Form 5472 to determine if
inventory or other costs deducted by the U.S. or foreign corporation
are correct.
Current Actions: There are no changes being made to the form at
this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Responses: 103,784.
Estimated Time per Response: 24 hrs. 31 min.
Estimated Total Annual Burden Hours: 2,544,784.
Title: Conclusive Presumption of Worthlessness of Debts Held by
Banks.
OMB Number: 1545-1254.
Regulation Project Number: FI-34-91 (TD 8390 (Final)).
Abstract: Section 1.166-2(d)(3) of this regulation allows a bank to
elect to determine the worthlessness of debts by using a method of
accounting that conforms worthlessness for tax purposes to
worthlessness for regulatory purposes, and establish a conclusive
presumption of worthlessness. An election under this regulation is
treated as a change in accounting method.
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: 200.
Estimated Time per Respondent: 15 minutes.
Estimated Total Annual Burden Hours: 50.
Title: Reporting Requirements for Recipients of Points Paid on
Residential Mortgages.
OMB Number: 1545-1380.
Regulation Project Number: IA-17-90 (TD 8571(Final)).
Abstract: These regulations require the reporting of certain
information relating to payments of mortgage interest. Taxpayers must
separately state on Form 1098 the amount of points and the amount of
interest (other than points) received during the taxable year on a
single mortgage and must provide to the payer of the points a separate
statement setting forth the information being reported to the IRS.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 37,644.
Estimated Time per Respondent: 7 hrs., 31 minutes.
Estimated Total Annual Burden Hours: 283,056.
Title: Form 5310, Application for Determination for Terminating
Plan, and Form 6088, Distributable Benefits from Employee Pension
Benefit Plans.
OMB Control Number: 1545-0202.
Form Number: Forms 5310 and 6088.
Abstract: Employers who have qualified deferred compensation plans
can take an income tax deduction for contributions to their plans. Form
5310 is used to request an IRS determination letter about the plan's
qualification status (qualified or non-qualified) under Internal
Revenue Code section 401(a). Form 6088 is used to show the amounts of
distributable benefits to participants in the plan.
Current Actions: The information collection, estimated number of
respondents, and estimated total annual burden hours remain unchanged.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Responses: 30,000.
Estimated Time per Response: 60 hours, 46 minutes.
[[Page 14600]]
Estimated Total Annual Burden Hours: 1,813,650.
Title: Guidance on Passive Foreign (PFIC) Purging Elections.
OMB Number: 1545-1965.
Regulation Project Number: REG-133446-03.
Abstract: The IRS needs the information to substantiate the
taxpayer's computation of the taxpayer's share of the PFIC's post-1986
earning and profits.
Current Actions: The information collection, estimated number of
respondents, and estimated total annual burden hours remain unchanged.
Type of Review: Extension of currently approved collection.
Affected Public: Individuals or households, business or other for-
profit organizations.
Estimated Number of Respondents: 250.
Estimated Time per Respondent: 1 hour.
Estimated Total Annual Burden Hours: 250.
Title: Notice of Plan Merger or Consolidation, Spinoff, or Transfer
of Plan Assets or Liabilities; Notice of Qualified Separate Lines of
Business.
OMB Number: 1545-1225.
Form Number: 5310-A.
Abstract: Internal Revenue Code section 6058(b) requires plan
administrators to notify IRS of any plan mergers, consolidations,
spinoffs, or transfers of plan assets or liabilities to another plan.
Code section 414(r) requires employers to notify IRS of separate lines
of business for their deferred compensation plans. Form 5310-A is used
to make these notifications.
Current Actions: The information collection, estimated number of
respondents, and estimated total annual burden hours remain unchanged.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 15,000.
Estimated Time per Respondent: 10 hours, 35 minutes.
Estimated Total Annual Burden Hours: 158,800.
Title: Information Return for Real Estate Mortgage Investment
Conduits (REMICs) and Issuers of Collateralized Debt Obligations.
OMB Number: 1545-1099.
Form Number: 8811.
Abstract: Current regulations require real estate mortgage
investment conduits (REMICs) to provide Forms 1099 to true holders of
interests in these investment vehicles. Because of the complex
computations required at each level and the potential number of
nominees, the ultimate investor may not receive a Form 1099 and other
information necessary to prepare their tax return in a timely fashion.
Form 8811 collects information for publishing by the IRS so that
brokers can contact REMICs to request the financial information and
timely issue Forms 1099 to holders.
Current Actions: There are no changes being made to Form 8811 at
this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Responses: 1,000.
Estimated Time per Response: 4 hr., 23 min.
Estimated Total Annual Burden Hours: 4,380.
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.
Approved: March 5, 2012.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2012-5831 Filed 3-9-12; 8:45 am]
BILLING CODE 4830-01-P
