Proposed Collection; Comment Request for Regulation Project, 59449 [2019-24011]
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Federal Register / Vol. 84, No. 213 / Monday, November 4, 2019 / Notices
maintenance, and purchase of services
to provide information.
Dated: October 25, 2019.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
[FR Doc. 2019–23960 Filed 11–1–19; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Regulation Project
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 general public and other
Federal agencies to take this
opportunity to comment on continuing
information collections, as required by
the Paperwork Reduction Act of 1995.
The IRS is soliciting comments
concerning treatment of shareholders of
certain passive foreign investment
companies.
SUMMARY:
Written comments should be
received on or before January 3, 2020 to
be assured of consideration.
ADDRESSES: Direct all written comments
to Dr. Philippe Thomas, Internal
Revenue Service, Room 6529, 1111
Constitution Avenue NW, Washington,
DC 20224.
DATES:
VerDate Sep<11>2014
20:48 Nov 01, 2019
Jkt 250001
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the form should be directed to
Kerry Dennis, at (202) 317–5751 or
Internal Revenue Service, Room 6529,
1111 Constitution Avenue NW,
Washington DC 20224, or through the
internet, at Kerry.Dennis@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Treatment of Shareholders of
Certain Passive Foreign Investment
Companies.
OMB Number: 1545–1507.
Regulation Numbers: TD 8701, TD
8178, and TD 9231.
Abstract: The reporting requirements
affect United States persons that are
direct and indirect shareholders of
passive foreign investment companies
(PFICSs). The requirements enable the
Internal Revenue Service to identify
PFICs, United States shareholders, and
transactions subject to PFIC taxation
and verify income inclusions, excess
distributions, and deferred tax amounts.
Current Actions: There are no changes
being made to the regulations at this
time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals, business
or other for-profit organizations, and
not-for-profit institutions.
Estimated Number of Respondents:
406,250.
Estimated Time per Respondent: 31
minutes.
Estimated Total Annual Burden
Hours: 212,500 hours.
The following paragraph applies to all
of the collections of information covered
by this notice.
PO 00000
Frm 00099
Fmt 4703
Sfmt 9990
59449
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: October 29, 2019.
Philippe Thomas,
Supervisor Tax Analyst.
[FR Doc. 2019–24011 Filed 11–1–19; 8:45 am]
BILLING CODE 4830–01–P
E:\FR\FM\04NON1.SGM
04NON1
]]>Agencies
[Federal Register Volume 84, Number 213 (Monday, November 4, 2019)]
[Notices]
[Page 59449]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-24011]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Regulation Project
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: The Internal Revenue Service, 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
continuing information collections, as required by the Paperwork
Reduction Act of 1995. The IRS is soliciting comments concerning
treatment of shareholders of certain passive foreign investment
companies.
DATES: Written comments should be received on or before January 3, 2020
to be assured of consideration.
ADDRESSES: Direct all written comments to Dr. Philippe Thomas, Internal
Revenue Service, Room 6529, 1111 Constitution Avenue NW, Washington, DC
20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the form should be directed to Kerry Dennis, at (202) 317-
5751 or Internal Revenue Service, Room 6529, 1111 Constitution Avenue
NW, Washington DC 20224, or through the internet, at
[email protected].
SUPPLEMENTARY INFORMATION:
Title: Treatment of Shareholders of Certain Passive Foreign
Investment Companies.
OMB Number: 1545-1507.
Regulation Numbers: TD 8701, TD 8178, and TD 9231.
Abstract: The reporting requirements affect United States persons
that are direct and indirect shareholders of passive foreign investment
companies (PFICSs). The requirements enable the Internal Revenue
Service to identify PFICs, United States shareholders, and transactions
subject to PFIC taxation and verify income inclusions, excess
distributions, and deferred tax amounts.
Current Actions: There are no changes being made to the regulations
at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals, business or other for-profit
organizations, and not-for-profit institutions.
Estimated Number of Respondents: 406,250.
Estimated Time per Respondent: 31 minutes.
Estimated Total Annual Burden Hours: 212,500 hours.
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: October 29, 2019.
Philippe Thomas,
Supervisor Tax Analyst.
[FR Doc. 2019-24011 Filed 11-1-19; 8:45 am]
BILLING CODE 4830-01-P
