Proposed Collection; Comment Request for Form 5495, 46016-46017 [2018-19620]
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46016
Federal Register / Vol. 83, No. 176 / Tuesday, September 11, 2018 / Notices
daltland on DSKBBV9HB2PROD with NOTICES
presented concerning the information
collection below.
1. Title: Customer Identification
Programs for Banks, Savings
Associations, Credit Unions, and
Certain Non-Federally Regulated Banks.
(31 CFR 1020.220).
OMB Control Number: 1506–0026.
Abstract: Banks, savings associations,
credit unions, and certain non-federally
regulated banks are required to
implement and maintain customer
identification programs and provide
their customers with notice of the
programs. (See 68 FR 25090, May 9,
2003).
Current Action: Renewal without
change to existing regulations.
Type of Review: Renewal of a
currently approved information
collection.
Affected Public: Business, other forprofit institutions, and not-for-profit
institutions.
Burden:
• Estimated Number of Respondents:
15,960.2
• Estimated Average Annual
Recordkeeping Burden per Respondent:
10 hours.3
• Estimated Average Annual
Disclosure Burden per Respondent: 1
hour.
• Estimated Total Annual
Respondent Burden: 175,560 hours.4
2. Title: Customer Identification
Programs for Futures Commission
Merchants and Introducing Brokers in
Commodities (31 CFR 1026.220).
OMB Control Number: 1506–0022.
Abstract: Futures commission
merchants and introducing brokers in
commodities are required to implement
and maintain customer identification
programs and provide their customers
with notice of the programs. (See 68 FR
25149, May 9, 2003).
Current Action: Renewal without
change to existing regulations.
Type of Review: Renewal of a
currently approved information
collection.
Affected Public: Business and other
for-profit institutions.
2 This number is a total of the institutions
represented in the 2017 annual reports of the
following regulators: The National Credit Union
Administration reported 5,573 institutions, the
Federal Reserve reported 5,180 institutions, the
Federal Deposit Insurance Corporation reported
3,636 institutions, the Office of the Comptroller of
the Currency reported 1,446 institutions. In
addition, a report from the Government
Accountability Office indicated that approximately
125 credit unions were insured privately, for a total
of 15,960 institutions.
3 FinCEN did not receive comments on the
previous estimate of 10 hours of annual
recordkeeping burden and 1 hour of annual
disclosure burden per respondent.
4 15,960 respondents multiplied by 11 hours
equals 175,560 hours.
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18:49 Sep 10, 2018
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Burden:
• Estimated Number of Respondents:
1,228.5
• Estimated Average Annual
Recordkeeping Burden per Respondent:
10 hours.6
• Estimated Average Annual
Disclosure Burden per Respondent: 1
hour.
• Estimated Total Annual
Respondent Burden: 13,508.7
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.
Records required to be retained under
the BSA must be retained for five years.
Generally, information collected
pursuant to the BSA is confidential but
may be shared as provided by law with
regulatory and law enforcement
authorities.
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.
Jamal El-Hindi,
Deputy Director, Financial Crimes
Enforcement Network.
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Open Meeting of the Taxpayer
Advocacy Panel Toll-Free Phone Line
Project Committee
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice of meeting.
AGENCY:
An open meeting of the
Taxpayer Advocacy Panel Toll-Free
Phone Line Project Committee will be
conducted. The Taxpayer Advocacy
Panel is soliciting public comments,
ideas, and suggestions on improving
customer service at the Internal Revenue
Service.
DATES: The meeting will be held
Tuesday, October 9, 2018.
FOR FURTHER INFORMATION CONTACT:
Rosalind Matherne at 1–888–912–1227
or 202–317–4115.
SUPPLEMENTARY INFORMATION: Notice is
hereby given pursuant to Section
10(a)(2) of the Federal Advisory
Committee Act, 5 U.S.C. App. (1988)
that an open meeting of the Taxpayer
Advocacy Panel Toll-Free Phone Line
Project Committee will be held Tuesday,
October 9, 2018, at 3:00 p.m. Eastern
Time via teleconference. The public is
invited to make oral comments or
submit written statements for
consideration. Due to limited
conference lines, notification of intent
to participate must be made with
Rosalind Matherne. For more
information please contact Rosalind
Matherne at 1–888–912–1227 or 202–
317–4115, or write TAP Office, 1111
Constitution Ave. NW, Room 1509,
Washington, DC 20224 or contact us at
the website: https://www.improveirs.org.
The agenda will include various IRS
issues.
The committee will be discussing
Toll-free issues and public input is
welcomed.
SUMMARY:
Dated: September 1, 2018.
Kevin Brown,
Acting Director, Taxpayer Advocacy Panel.
[FR Doc. 2018–19678 Filed 9–10–18; 8:45 am]
[FR Doc. 2018–19653 Filed 9–10–18; 8:45 am]
BILLING CODE 4830–01–P
BILLING CODE 4810–02–P
DEPARTMENT OF THE TREASURY
5 According
to the National Futures Association,
there are currently 1,164 registered introducing
brokers in commodities, and 64 futures commission
merchants.
6 FinCEN did not receive comments on the
previous estimate of 10 hours of annual
recordkeeping burden and 1 hour of annual
disclosure burden per respondent.
7 1,228 respondents multiplied by 11 hours
equals 13,508 hours.
PO 00000
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Internal Revenue Service
Proposed Collection; Comment
Request for Form 5495
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
E:\FR\FM\11SEN1.SGM
11SEN1
Federal Register / Vol. 83, No. 176 / Tuesday, September 11, 2018 / Notices
The Internal Revenue Service
(IRS), 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 information
collections, as required by the
Paperwork Reduction Act of 1995. The
IRS is soliciting comments concerning
Request for Discharge From Personal
Liability Under Internal Revenue Code
Section 2204 or 6905.
DATES: Written comments should be
received on or before November 13,
2018 to be assured of consideration.
ADDRESSES: Direct all written comments
to Laurie Brimmer, Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the form and instructions
should be directed to Martha R. Brinson,
at (202)317–5753, or at Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or
through the internet at
Martha.R.Brinson@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Request for Discharge From
Personal Liability Under Internal
Revenue Code Section 2204 or 6905.
OMB Number: 1545–0432.
Form Number: 5495.
Abstract: Form 5495 provides
guidance under sections 2204 and 6905
for executors of estates and fiduciaries
of decedent’s trusts. The form, filed after
regular filing of an Estate, Gift, or
Income tax return for a decedent, is
used by the executor or fiduciary to
request discharge from personal liability
for any deficiency for the tax and
periods shown on the form.
Current Actions: There are no changes
being made to Form 5495 at this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
Households.
Estimated Number of Responses:
25,000.
Estimated Time per Response: 12
hours, 16 minutes.
Estimated Total Annual Burden
Hours: 306,500.
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
daltland on DSKBBV9HB2PROD with NOTICES
SUMMARY:
VerDate Sep<11>2014
18:49 Sep 10, 2018
Jkt 244001
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. Comments
will be 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 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 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: August 28, 2018.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2018–19620 Filed 9–10–18; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Allowance of Information
Collection Request Submitted for
Public Comment; Information
Reporting for Certain Life Insurance
Contract Transactions
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
The Internal Revenue Service,
as part of its continuing effort to reduce
paperwork and respondent burden,
invites the 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. Currently, the IRS is
soliciting comments concerning the
guidance for taxpayers regarding
information reporting for certain life
insurance contract transactions.
DATES: Written comments should be
received on or before November 13,
2018 to be assured of consideration.
ADDRESSES: Direct all written comments
to Carolyn Brown, Internal Revenue
Service, Room 6236, 1111 Constitution
Avenue NW, Washington, DC 20224.
Requests for additional information or
copies of the regulations should be
SUMMARY:
PO 00000
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Fmt 4703
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46017
directed to R. Joseph Durbala, at Internal
Revenue Service, Room 6129, 1111
Constitution Avenue NW, Washington
DC 20224, or through the internet, at
RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Information Reporting for
Certain Life Insurance Contract
Transactions.
OMB Number: 1545—New.
Regulation Project Number: Notice
2018–41, Form 1099–LS, Form 1099–
SB.
Abstract: The collection covers the
new information reporting requirements
for certain life insurance contracts
under new IRC 6050Y, which were
added by the Tax Cuts and Jobs Act
(TCJA).
The new reporting requirements
apply to reportable death benefits paid
and reportable policy sales made after
Dec. 31, 2017. On April 26, 2018, the
Internal Revenue Service provided
transitional guidance delaying any
reporting under IRC 6050Y until final
regulations are issued. The transitional
guidance provides taxpayers additional
time to satisfy any reporting obligations
arising prior to publication of final
regulations.
Current Actions: The IRS described
the new information reporting
requirements for certain life insurance
contracts under new IRC 6050Y, which
were added by the Tax Cuts and Jobs
Act. The new reporting requirements
apply to reportable death benefits paid
and reportable policy sales made after
Dec. 31, 2017. As part of the guidance,
however, the IRS provided transitional
guidance delaying any reporting under
IRC 6050Y until final regulations are
issued.
This submission is being made to seek
new approval as required in the
Paperwork Reduction Act.
Type of Review: New collection.
Affected Public: Individuals or
Households, Business or other for profit,
Not for profit institutions.
Estimated Number of Respondents:
6,000.
Estimated Time per Respondent: 7
min.
Estimated Total Annual Burden
Hours: 720.
The following paragraph applies to all
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 if their contents may become
E:\FR\FM\11SEN1.SGM
11SEN1
]]>Agencies
[Federal Register Volume 83, Number 176 (Tuesday, September 11, 2018)]
[Notices]
[Pages 46016-46017]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-19620]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 5495
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
[[Page 46017]]
SUMMARY: The Internal Revenue Service (IRS), 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 information collections, as required by the Paperwork Reduction Act
of 1995. The IRS is soliciting comments concerning Request for
Discharge From Personal Liability Under Internal Revenue Code Section
2204 or 6905.
DATES: Written comments should be received on or before November 13,
2018 to be assured of consideration.
ADDRESSES: Direct all written comments to Laurie Brimmer, Internal
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC
20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the form and instructions should be directed to Martha R.
Brinson, at (202)317-5753, or at Internal Revenue Service, Room 6526,
1111 Constitution Avenue NW, Washington, DC 20224, or through the
internet at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Request for Discharge From Personal Liability Under Internal
Revenue Code Section 2204 or 6905.
OMB Number: 1545-0432.
Form Number: 5495.
Abstract: Form 5495 provides guidance under sections 2204 and 6905
for executors of estates and fiduciaries of decedent's trusts. The
form, filed after regular filing of an Estate, Gift, or Income tax
return for a decedent, is used by the executor or fiduciary to request
discharge from personal liability for any deficiency for the tax and
periods shown on the form.
Current Actions: There are no changes being made to Form 5495 at
this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or Households.
Estimated Number of Responses: 25,000.
Estimated Time per Response: 12 hours, 16 minutes.
Estimated Total Annual Burden Hours: 306,500.
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.
Comments will be 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 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 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: August 28, 2018.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2018-19620 Filed 9-10-18; 8:45 am]
BILLING CODE 4830-01-P
