Proposed Information Collection; Comment Request, 49060 [2012-19972]

Agencies

• Internal Revenue Service
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 77, Number 158 (Wednesday, August 15, 2012)]
[Notices]
[Page 49060]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-19972]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Information Collection; Comment Request

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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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 October 15, 
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 Joel Goldberger, 202-927-9368, or at 
Internal Revenue Service, room 6129, 1111 Constitution Avenue NW., 
Washington, DC 20224, or through the Internet, at 
Joel.P.Goldberger@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 forms, and reporting and 
record-keeping requirements:
    Title: Application or Foreign Account Tax Compliance Act (FATCA) 
Individual Identification Number.
    OMB Number: 1545-XXXX.
    Form Number: 8956.
    Abstract: The IRS is developing New Form 8956 under the authority 
of IRC section 1471(b), which was added by Public Law 111-47, section 
501(a). Section 1471 is part of the new Foreign Account Tax Compliance 
Act (FATCA) legislative framework to obtain reporting from foreign 
financial institutions on the accounts held in their institutions by US 
persons.
    Current Actions: This is a new form.
    Affected Public: Business and other for profit and not-for-profit 
institutions.
    Estimated Number of Respondents: 260,000.
    Estimated Time per Respondent: Two hours 59 minutes.
    Estimated Total Annual Burden Hours: 759,200.
    Title: Registration for Participating, Limited, or Registered 
Deemed Compliant Foreign Financial Institution Status.
    OMB Number: 1545-XXXX.
    Form Number: 8957.
    Abstract: The IRS is developing New Form 8956 under the authority 
of IRC section 1471(b), which was added by Public Law 111-47, section 
501(a). Section 1471 is part of the new Foreign Account Tax Compliance 
Act (FATCA) legislative framework to obtain reporting from foreign 
financial institutions on the accounts held in their institutions by 
U.S. persons.
    Current Actions: This is a new form.
    Affected Public: Business and other for profit and not-for-profit 
institutions.
    Estimated Number of Respondents: 260,000.
    Estimated Time per Respondent: 8 hours seven minutes.
    Estimated Total Annual Burden Hours: 2,116,400.
    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: August 8, 2012.
 Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2012-19972 Filed 8-14-12; 8:45 am]
BILLING CODE 4830-01-P