Proposed Collection; Comment Request for Forms 3921 and 3922 and TD 9470, 10434 [2021-03127]

Agencies

• Internal Revenue Service
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 86, Number 32 (Friday, February 19, 2021)]
[Notices]
[Page 10434]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-03127]



[[Page 10434]]

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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Forms 3921 and 3922 and 
TD 9470

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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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 Exercise of an 
Incentive Stock Option, Information Reporting Requirements Under 
Internal Revenue Service Code Section 6039, and Transfer of Stock 
Acquired Through an Employee Stock Purchase Plan.

DATES: Written comments should be received on or before April 20, 2021 
to be assured of consideration.

ADDRESSES: Direct all written comments to Kinna Brewington, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 
20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the forms 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: Form 3921, Exercise of an Incentive Stock Option Under 
Section 422(b), Information Reporting Requirements Under Internal 
Revenue Service Code Section 6039, and Form 3922, Transfer of Stock 
Acquired Through an Employee Stock Purchase Plan Under Section 423(c).
    OMB Number: 1545-2129.
    Form Numbers: 3921 and 3922 and TD 9470.
    Abstract: Form 3921 is a copy of the information return filed with 
the Internal Revenue Service by the corporation which transferred 
shares of stock to a recipient. Form 3922 is used by the corporation to 
record a transfer of the legal title of a share of stock acquired by 
the employee where the stock was acquired pursuant to the exercise of 
an option described in Internal Revenue Code section 423(c). These 
forms are required to be filed for stock transfers occurring after 
2008. Treasury Decision 9470 contains the final regulations relating to 
the return and information statement requirements under Internal 
Revenue Code section 6039. These regulations reflect changes to section 
6039 made by section 403 of the Tax Relief and Health Care Act of 2006. 
These regulations affect corporations that issue statutory stock 
options and provide guidance to assist corporations in complying with 
the return and information statement requirements under section 6039.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals and Households, Businesses and other 
for-profit organizations.
    Estimated Number of Respondents: 51,000.
    Estimated Time per Response: 29 mins.
    Estimated Total Burden Hours: 25,205.
    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: January 25, 2021.
Martha R. Brinson,
Tax Analyst.
[FR Doc. 2021-03127 Filed 2-18-21; 8:45 am]
BILLING CODE 4830-01-P