Submission for OMB Review; Comment Request, 95309-95310 [2016-31212]
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Federal Register / Vol. 81, No. 248 / Tuesday, December 27, 2016 / Notices
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: December 21, 2016.
Allan Hopkins,
Tax Analyst.
[FR Doc. 2016–31202 Filed 12–23–16; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Submission for OMB Review;
Comment Request
December 21, 2016.
The Department of the Treasury will
submit the following information
collection requests to the Office of
Management and Budget (OMB) for
review and clearance in accordance
with the Paperwork Reduction Act of
1995, Public Law 104–13, on or after the
date of publication of this notice.
DATES: Comments should be received on
or before January 26, 2017 to be assured
of consideration.
ADDRESSES: Send comments regarding
the burden estimates, or any other
aspect of the information collections,
including suggestions for reducing the
burden, to (1) Office of Information and
Regulatory Affairs, Office of
Management and Budget, Attention:
Desk Officer for Treasury, New
Executive Office Building, Room 10235,
Washington, DC 20503, or email at
OIRA_Submission@OMB.EOP.gov and
(2) Treasury PRA Clearance Officer,
1750 Pennsylvania Ave. NW., Suite
8142, Washington, DC 20220, or email
at PRA@treasury.gov.
FOR FURTHER INFORMATION CONTACT:
Copies of the submissions may be
obtained by emailing PRA@treasury.gov,
calling (202) 622–0934, or viewing the
entire information collection request at
www.reginfo.gov.
asabaliauskas on DSK3SPTVN1PROD with NOTICES
Internal Revenue Service (IRS)
OMB Control Number: 1545–0242.
Type of Review: Extension without
change of a currently approved
collection.
Title: Gas Guzzler Tax.
Forms: 6197.
Abstract: Form 6197 is used to
compute the gas guzzler tax on
automobiles whose fuel economy does
not meet certain standard for fuel
economy. The tax is reported quarterly
on Form 720. Form 6197 is filed each
quarter with Form 720 for
manufacturers. Individuals can make a
one-time filing if they import a gas
VerDate Sep<11>2014
20:45 Dec 23, 2016
Jkt 241001
guzzler auto for personal use. The IRS
uses the information to verify
computation of the tax and compliance
with the law.
Affected Public: Businesses or other
for-profits.
Estimated Total Annual Burden
Hours: 4659.
OMB Control Number: 1545–1013.
Type of Review: Extension without
change of a currently approved
collection.
Title: Return of Excise Tax on
Undistributed Income of Real Estate
Investment Trusts.
Abstract: Form 8612 is used by real
estate investment trusts to compute and
pay the excise tax on undistributed
income imposed under section 4981.
IRS uses the information to verify that
the correct amount of tax has been
reported.
Form: 8612.
Affected Public: Businesses or other
for-profits.
Estimated Total Annual Burden
Hours: 196.
OMB Control Number: 1545–1068.
Type of Review: Extension without
change of a currently approved
collection.
Title: T.D. 8618—Definition of a
Controlled Foreign Corporation, Foreign
Base Company Income, and Foreign
Personal Holding Company Income of a
Controlled Foreign Corporation (INTL–
362–88).
Abstract: The election and
recordkeeping requirements are
necessary to exclude certain high-taxed
or active business income from subpart
F income or to include certain income
in the appropriate category of subpart F
income. The recordkeeping and election
procedures allow the U.S. shareholders
and the IRS to know the amount of the
controlled foreign corporation’s subpart
F income.
Affected Public: Businesses or other
for-profits.
Estimated Total Annual Burden
Hours: 50,417.
OMB Control Number: 1545–1709.
Type of Review: Revision of a
currently approved collection.
Title: Application for Automatic
Extension of Time to File an Exempt
Organization Return (Form-8868).
Form: 8868.
Abstract: 26 U.S.C. 6081 of the
Internal Revenue Code grants a
reasonable extension of time for filing
any return. This form is used by
fiduciaries and certain exempt
organizations, to request an extension of
time to file their returns. The
information is used to determine
whether the extension should be
granted.
PO 00000
Frm 00212
Fmt 4703
Sfmt 4703
95309
Affected Public: Not-for-profit
institutions.
Estimated Total Annual Burden
Hours: 1,048,290.
OMB Control Number: 1545–1729.
Type of Review: Extension without
change of a currently approved
collection.
Title: TD 9114 (Final) Electronic
Payee Statements.
Abstract: In general, under these
regulations, a person required to furnish
a statement on Form W–2 under Code
sections 6041(d) or 6051, or Forms
1098–T or 1098–E under Code section
6050S, may furnish these statements
electronically if the recipient consents
to receive them electronically, and if the
person furnishing the statement (1)
makes certain disclosures to the
recipient, (2) annually notifies the
recipient that the statement is available
on a Web site, and (3) provides access
to the statement on that Web site for a
prescribed period of time.
Affected Public: Businesses or other
for-profits.
Estimated Total Annual Burden
Hours: 2,844,950.
OMB Control Number: 1545–1733.
Type of Review: Revision of a
currently approved collection.
Title: Form 720–CS, Carrier Summary
Report, Form 720–TO, Terminal
Operator Report, and Form 8809–EX,
Request for Extension of Time to File an
ExSTARS Information Return.
Form: 720–CS, 720–TO, 8809–EX
Abstract: Representatives of the motor
fuel industry, state governments, and
the Federal government are working to
ensure compliance with excise taxes on
motor fuels. This joint effort has
resulted in a system to track the
movement of all products to and from
terminals. Form 720–CS is an
information return that will be used by
carriers to report their monthly
deliveries and receipts of products to
and from terminals. Form 720–TO is
completed by bulk transport carriers
(barges, vessels, and pipeline) who
deliver fuel product to the terminals.
Form 8809–EX is used to request a 30day extension of time to file an Excise
Summary terminal Activity Reporting
System (ExSTARS) information report
(Form 720CS, Carrier Summary Report
or Form 720TO, Terminal operator
Report).
Affected Public: Businesses or other
for-profits.
Estimated Total Annual Burden
Hours: 2,530,383.
OMB Control Number: 1545–1908.
Type of Review: Extension without
change of a currently approved
collection.
E:\FR\FM\27DEN1.SGM
27DEN1
95310
Federal Register / Vol. 81, No. 248 / Tuesday, December 27, 2016 / Notices
Title: REG–121475–03 (TD 9495Final) Qualified Zone Academy Bonds:
Obligations of States and Political
Subdivisions.
Abstract: The regulations that provide
guidance to state and local governments
that issue qualified zone academy bonds
and to banks, insurance companies, and
other taxpayers that hold those bonds
on the program requirements for
qualified zone academy bonds. The final
regulations implement the amendments
to section 1397E and provide guidance
on the maximum term, permissible use
of proceeds, and remedial actions for
qualified zone academy bonds.
Affected Public: State, Local, and
Tribal Governments.
Estimated Total Annual Burden
Hours: 3.
Bob Faber,
Acting Treasury PRA Clearance Officer.
[FR Doc. 2016–31212 Filed 12–23–16; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Data Collection and Comments in Aid
of Analyses of the Terrorism Risk
Insurance Program
Departmental Offices, U.S.
Department of the Treasury.
ACTION: Request for comments.
AGENCY:
The Terrorism Risk Insurance
Act of 2002 (TRIA) created the
Terrorism Risk Insurance Program
(Program) to address disruptions in the
market for terrorism risk insurance, to
help ensure the continued availability
and affordability of commercial
property and casualty insurance for
terrorism risk, and to allow for the
private markets to stabilize and build
insurance capacity to absorb any future
losses for terrorism events. The Program
has been reauthorized on a number of
occasions, most recently in the
Terrorism Risk Insurance Program
Reauthorization Act of 2015. TRIA
requires the Secretary of the Treasury
(Secretary) to perform periodic analyses
of certain matters concerning the
Program. In order to assist the Secretary
with this process, TRIA requires
insurers to submit on an annual basis
certain insurance data and information
regarding participation in the Program.
Treasury requests stakeholder feedback
on the data collection forms proposed
for use in the 2017 data collection
process, pursuant to 31 CFR 50.51(c).
Copies of these forms and associated
explanatory materials are available for
electronic review at https://
www.treasury.gov/resource-center/finmkts/Pages/program.aspx. Treasury also
asabaliauskas on DSK3SPTVN1PROD with NOTICES
SUMMARY:
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20:45 Dec 23, 2016
Jkt 241001
seeks comments from interested parties
on issues that Treasury will be
analyzing in connection with its next
report concerning the Program, which
will address the participation of small
insurers in the Program, including any
competitive challenges such insurers
face in the terrorism risk insurance
marketplace.
DATES: Submit comments on or before
February 27, 2017.
ADDRESSES: Submit comments
electronically through the Federal
eRulemaking Portal: https://
www.regulations.gov, or by mail to the
Federal Insurance Office, Attn: Richard
Ifft, Room 1140 MT, Department of the
Treasury, 1500 Pennsylvania Avenue
NW., Washington, DC 20220. Because
postal mail may be subject to processing
delays, it is recommended that
comments be submitted electronically.
If submitting comments by mail, please
submit an original version with two
copies. Comments concerning the
proposed data collection forms should
be captioned with ‘‘2017 TRIA Data
Collection Form Comments.’’ Comments
addressing the participation of small
insurers in the Program should be
captioned with ‘‘2017 TRIA Small
Insurer Study Comments.’’ Please
include your name, group affiliation,
address, email address, and telephone
number(s) in your comment. Where
appropriate, a comment should include
a short Executive Summary (no more
than five single-spaced pages).
FOR FURTHER INFORMATION CONTACT:
Richard Ifft, Senior Insurance
Regulatory Policy Analyst, Federal
Insurance Office, Room 1410 MT,
Department of the Treasury, 1500
Pennsylvania Avenue NW., Washington,
DC 20220, at (202) 622–2922 (not a tollfree number), Kevin Meehan, Senior
Insurance Regulatory Policy Analyst,
Federal Insurance Office, at (202) 622–
7009 (not a toll-free number), or Lindsey
Baldwin, Senior Policy Analyst, Federal
Insurance Office, at (202) 622–3220 (not
a toll free number). Persons who have
difficulty hearing or speaking may
access these numbers via TTY by calling
the toll-free Federal Relay Service at
(800) 877–8339.
SUPPLEMENTARY INFORMATION:
I. Background
TRIA 1 directs the Secretary,
beginning in calendar year 2016, to
‘‘require insurers participating in the
Program to submit to the Secretary such
1 Public Law 107–297, 116 Stat. 2322, codified at
15 U.S.C. 6701, note. As the provisions of TRIA (as
amended) appear in a note, instead of particular
sections, of the United States Code, the provisions
of TRIA are identified by the sections of the law.
PO 00000
Frm 00213
Fmt 4703
Sfmt 4703
information regarding insurance
coverage for terrorism losses of such
insurers as the Secretary considers
appropriate to analyze the effectiveness
of the Program[.]’’ 2 This information
and data includes information
regarding: (1) Lines of insurance with
exposure to such losses; (2) premiums
earned on such coverage; (3)
geographical location of exposures; (4)
pricing of such coverage; (5) the take-up
rate for such coverage; (6) the amount of
private reinsurance for acts of terrorism
purchased; and (7) such other matters as
the Secretary considers appropriate.
31 CFR 50.51 outlines the data
collection process and requires insurers
to submit the specified data and
information relating to Program
participation no later than May 15 of
each calendar year. Treasury, through
an insurance statistical aggregator,
intends to establish a web portal,
through which insurers will be able to
submit the requested data. All
information submitted via the web
portal will be subject to the
confidentiality and data protection
provisions of applicable Federal law.
The first year of data collection under
Section 104(h) was 2016. In March
2016, Treasury requested that
participating insurers voluntarily
submit 2015 insurance data.3 This was
done to ensure that Treasury data
collection was both limited and
meaningful. This voluntary collection
identified the types of data and
information sought by Treasury, and
provided insurers with time to make
adjustments to ease the burden of
compliance with subsequent mandatory
data collections. The collection
templates proposed for use in calendar
year 2017 follow from the form created
for use in calendar year 2016, although
certain changes have been made due to
experience developed through the 2016
voluntary data call.
In addition, Section 108(h) of TRIA
requires the Secretary to conduct, by
June 30, 2017, a study of small insurers
(to be defined by regulation by the
Secretary, as has been done under 31
CFR 50.4(z)) participating in the
Program to identify any competitive
challenges that small insurers face in
the terrorism risk insurance
marketplace. Treasury’s rules provide
for the collection of data in connection
with these small insurers (31 CFR
50.52), and Treasury has also identified
several questions regarding the role of
small insurers in the Program, to which
comments are sought for use in the
study that Treasury must conduct
2 TRIA
3 81
E:\FR\FM\27DEN1.SGM
sec. 104(h).
FR 11649 (Mar. 4, 2016).
27DEN1
]]>Agencies
[Federal Register Volume 81, Number 248 (Tuesday, December 27, 2016)]
[Notices]
[Pages 95309-95310]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-31212]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
December 21, 2016.
The Department of the Treasury will submit the following
information collection requests to the Office of Management and Budget
(OMB) for review and clearance in accordance with the Paperwork
Reduction Act of 1995, Public Law 104-13, on or after the date of
publication of this notice.
DATES: Comments should be received on or before January 26, 2017 to be
assured of consideration.
ADDRESSES: Send comments regarding the burden estimates, or any other
aspect of the information collections, including suggestions for
reducing the burden, to (1) Office of Information and Regulatory
Affairs, Office of Management and Budget, Attention: Desk Officer for
Treasury, New Executive Office Building, Room 10235, Washington, DC
20503, or email at OIRA_Submission@OMB.EOP.gov and (2) Treasury PRA
Clearance Officer, 1750 Pennsylvania Ave. NW., Suite 8142, Washington,
DC 20220, or email at PRA@treasury.gov.
FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be
obtained by emailing PRA@treasury.gov, calling (202) 622-0934, or
viewing the entire information collection request at www.reginfo.gov.
Internal Revenue Service (IRS)
OMB Control Number: 1545-0242.
Type of Review: Extension without change of a currently approved
collection.
Title: Gas Guzzler Tax.
Forms: 6197.
Abstract: Form 6197 is used to compute the gas guzzler tax on
automobiles whose fuel economy does not meet certain standard for fuel
economy. The tax is reported quarterly on Form 720. Form 6197 is filed
each quarter with Form 720 for manufacturers. Individuals can make a
one-time filing if they import a gas guzzler auto for personal use. The
IRS uses the information to verify computation of the tax and
compliance with the law.
Affected Public: Businesses or other for-profits.
Estimated Total Annual Burden Hours: 4659.
OMB Control Number: 1545-1013.
Type of Review: Extension without change of a currently approved
collection.
Title: Return of Excise Tax on Undistributed Income of Real Estate
Investment Trusts.
Abstract: Form 8612 is used by real estate investment trusts to
compute and pay the excise tax on undistributed income imposed under
section 4981. IRS uses the information to verify that the correct
amount of tax has been reported.
Form: 8612.
Affected Public: Businesses or other for-profits.
Estimated Total Annual Burden Hours: 196.
OMB Control Number: 1545-1068.
Type of Review: Extension without change of a currently approved
collection.
Title: T.D. 8618--Definition of a Controlled Foreign Corporation,
Foreign Base Company Income, and Foreign Personal Holding Company
Income of a Controlled Foreign Corporation (INTL-362-88).
Abstract: The election and recordkeeping requirements are necessary
to exclude certain high-taxed or active business income from subpart F
income or to include certain income in the appropriate category of
subpart F income. The recordkeeping and election procedures allow the
U.S. shareholders and the IRS to know the amount of the controlled
foreign corporation's subpart F income.
Affected Public: Businesses or other for-profits.
Estimated Total Annual Burden Hours: 50,417.
OMB Control Number: 1545-1709.
Type of Review: Revision of a currently approved collection.
Title: Application for Automatic Extension of Time to File an
Exempt Organization Return (Form-8868).
Form: 8868.
Abstract: 26 U.S.C. 6081 of the Internal Revenue Code grants a
reasonable extension of time for filing any return. This form is used
by fiduciaries and certain exempt organizations, to request an
extension of time to file their returns. The information is used to
determine whether the extension should be granted.
Affected Public: Not-for-profit institutions.
Estimated Total Annual Burden Hours: 1,048,290.
OMB Control Number: 1545-1729.
Type of Review: Extension without change of a currently approved
collection.
Title: TD 9114 (Final) Electronic Payee Statements.
Abstract: In general, under these regulations, a person required to
furnish a statement on Form W-2 under Code sections 6041(d) or 6051, or
Forms 1098-T or 1098-E under Code section 6050S, may furnish these
statements electronically if the recipient consents to receive them
electronically, and if the person furnishing the statement (1) makes
certain disclosures to the recipient, (2) annually notifies the
recipient that the statement is available on a Web site, and (3)
provides access to the statement on that Web site for a prescribed
period of time.
Affected Public: Businesses or other for-profits.
Estimated Total Annual Burden Hours: 2,844,950.
OMB Control Number: 1545-1733.
Type of Review: Revision of a currently approved collection.
Title: Form 720-CS, Carrier Summary Report, Form 720-TO, Terminal
Operator Report, and Form 8809-EX, Request for Extension of Time to
File an ExSTARS Information Return.
Form: 720-CS, 720-TO, 8809-EX
Abstract: Representatives of the motor fuel industry, state
governments, and the Federal government are working to ensure
compliance with excise taxes on motor fuels. This joint effort has
resulted in a system to track the movement of all products to and from
terminals. Form 720-CS is an information return that will be used by
carriers to report their monthly deliveries and receipts of products to
and from terminals. Form 720-TO is completed by bulk transport carriers
(barges, vessels, and pipeline) who deliver fuel product to the
terminals. Form 8809-EX is used to request a 30-day extension of time
to file an Excise Summary terminal Activity Reporting System (ExSTARS)
information report (Form 720CS, Carrier Summary Report or Form 720TO,
Terminal operator Report).
Affected Public: Businesses or other for-profits.
Estimated Total Annual Burden Hours: 2,530,383.
OMB Control Number: 1545-1908.
Type of Review: Extension without change of a currently approved
collection.
[[Page 95310]]
Title: REG-121475-03 (TD 9495-Final) Qualified Zone Academy Bonds:
Obligations of States and Political Subdivisions.
Abstract: The regulations that provide guidance to state and local
governments that issue qualified zone academy bonds and to banks,
insurance companies, and other taxpayers that hold those bonds on the
program requirements for qualified zone academy bonds. The final
regulations implement the amendments to section 1397E and provide
guidance on the maximum term, permissible use of proceeds, and remedial
actions for qualified zone academy bonds.
Affected Public: State, Local, and Tribal Governments.
Estimated Total Annual Burden Hours: 3.
Bob Faber,
Acting Treasury PRA Clearance Officer.
[FR Doc. 2016-31212 Filed 12-23-16; 8:45 am]
BILLING CODE 4830-01-P
