Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request Treaty-Based Return Position Disclosure, 16621-16622 [2024-04835]
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Federal Register / Vol. 89, No. 46 / Thursday, March 7, 2024 / Notices
Written comments should be
received on or before May 6, 2024 to be
assured of consideration.
ADDRESSES: Direct all written comments
to Andre´s Garcia, Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or
by email to pra.comments@irs.gov.
Please include, ‘‘OMB Number: 1545–
0922—Public Comment Request Notice’’
in the Subject line.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the form and instructions
should be directed to Ronald J. Durbala,
at (202) 317–5746, at Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or
through the internet at
RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Mortgage Credit Certificates
(MCCs).
OMB Number: 1545–0922.
Regulation Project Number: Form
8329 and Form 8330.
Abstract: Mortgage Credit Certificates
provide qualified holders of the
certificates with a credit against income
tax liability. In general, an Issuer elects
to establish a mortgage credit certificate
program in lieu of issuing qualified
mortgage revenue bonds. Section 25 of
the Code permits states and political
subdivisions to elect to issue Mortgage
Credit Certificates in lieu of qualified
mortgage revenue bonds. Form 8329 is
used by lending institutions and Form
8330 is used by state and local
governments to provide the IRS with
information on the issuance of mortgage
credit certificates (MCCs) authorized
under Internal Revenue Code section 25.
IRS matches the information supplied
by lenders and issuers to ensure that the
credit is computed properly.
Current Actions: There is no change to
the burden previously approved.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
Form 8329—10,000; Form 8330—2,000.
Estimated Time per Respondent:
Form 8329—5 hrs. 53 min.; Form
8330—7 hrs. 28 min.
Estimated Total Annual Burden
Hours: Form 8329—58,800; Form
8330—14,920. 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
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DATES:
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retained if 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.
Desired Focus of Comments: The
Internal Revenue Service (IRS) is
particularly interested in comments
that:
• Evaluate whether the proposed
collection of information is necessary
for the proper performance of the
functions of the agency, including
whether the information will have
practical utility.
• Evaluate the accuracy of the
agency’s estimate of the burden of the
proposed collection of information,
including the validity of the
methodology and assumptions used.
• Enhance the quality, utility, and
clarity of the information to be
collected; and
• Minimize the burden of the
collection of information on those who
are to respond, including using
appropriate automated, electronic,
mechanical, or other technological
collection techniques or other forms of
information technology, e.g., by
permitting electronic submissions of
responses.
Comments submitted in response to
this notice will be summarized and/or
included in the ICR for OMB approval
of the extension of the information
collection; they will also become a
matter of public record.
Approved: March 4, 2024.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2024–04839 Filed 3–6–24; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Extension of Information
Collection Request Submitted for
Public Comment; Comment Request
Treaty-Based Return Position
Disclosure
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
SUMMARY:
PO 00000
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16621
Act of 1995. Currently, the IRS is
soliciting comments concerning treatybased return position disclosure.
DATES: Written comments should be
received on or before May 6, 2024 to be
assured of consideration.
ADDRESSES: Direct all written comments
to Andre´s Garcia, Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or
by email to pra.comments@irs.gov.
Please include, ‘‘OMB Number: 1545–
1354—Public Comment Request Notice’’
in the Subject line.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the form and instructions
should be directed to Ronald J. Durbala,
at (202) 317–5746, at Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or
through the internet at
RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Treaty-Based Return Position
Disclosure.
OMB Number: 1545–1354.
Document Number: 8833.
Abstract: Revenue Procedure 2010–19
provides guidance for individuals who
emigrate from Canada and wish to make
an election for U.S. federal income tax
purposes. Form 8833 is used by
taxpayers to make the treaty-based
return position disclosure required by
section 6114.
Current Actions: There are no changes
to the burden previously approved by
OMB. This request is to extend the
current approval for another 3 years.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business and other
for-profit organizations.
Estimated Number of Respondents:
4,100.
Estimated Time per Respondent: 6
hrs, 16 min.
Estimated Total Annual Burden
Hours: 25,740.
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
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.
Desired Focus of Comments: The
Internal Revenue Service (IRS) is
E:\FR\FM\07MRN1.SGM
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16622
Federal Register / Vol. 89, No. 46 / Thursday, March 7, 2024 / Notices
particularly interested in comments
that:
• Evaluate whether the proposed
collection of information is necessary
for the proper performance of the
functions of the agency, including
whether the information will have
practical utility.
• Evaluate the accuracy of the
agency’s estimate of the burden of the
proposed collection of information,
including the validity of the
methodology and assumptions used.
• Enhance the quality, utility, and
clarity of the information to be
collected; and
• Minimize the burden of the
collection of information on those who
are to respond, including using
appropriate automated, electronic,
mechanical, or other technological
collection techniques or other forms of
information technology, e.g., by
permitting electronic submissions of
responses.
Comments submitted in response to
this notice will be summarized and/or
included in the ICR for OMB approval
of the extension of the information
collection; they will also become a
matter of public record.
Approved: March 4, 2024.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2024–04835 Filed 3–6–24; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Mandatory Survey of ForeignResidents’ Holdings of U.S. Securities
Departmental Offices,
Department of the Treasury.
ACTION: Notice of reporting
requirements.
AGENCY:
By this Notice, the
Department of the Treasury is informing
the public that it is conducting a
mandatory Survey of Foreign-Residents’
Holdings of U.S. Securities as of June
30, 2024. This Notice constitutes legal
notification to all United States persons
(defined below) who meet the reporting
requirements set forth in this Notice that
they must respond to, and comply with,
this survey. Additional copies of the
reporting forms SHL (2024) and
instructions may be printed from the
internet at: https://home.treasury.gov/
data/treasury-international-capital-ticsystem-home-page/tic-formsinstructions/forms-shl.
SUPPLEMENTARY INFORMATION:
Definition: A U.S. person is any
individual, branch, partnership,
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SUMMARY:
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associated group, association, estate,
trust, corporation, or other organization
(whether or not organized under the
laws of any State), or any government
(including a foreign government, the
United States Government, a State or
local government, or any agency,
corporation, financial institution, or
other entity or instrumentality thereof,
including a government-sponsored
agency), residing in the United States or
subject to the jurisdiction of the United
States.
Who Must Report: This mandatory
survey is conducted under the authority
of the International Investment and
Trade in Services Survey Act (22 U.S.C.
3101 et seq.) and in accordance with 31
CFR 129. The following U.S. persons
must report on this survey:
(1) U.S. persons who manage the
safekeeping of U.S. securities (as
specified below) for foreign persons.
These U.S. persons, who include the
affiliates in the United States of foreign
entities, and are henceforth referred to
as U.S. custodians, must report on this
survey if the total market value of the
U.S. securities whose safekeeping they
manage on behalf of foreign persons—
aggregated over all accounts and for all
U.S. branches and affiliates of their
firm—is $200 million or more as of June
30, 2024.
(2) U.S. persons who issue securities,
if the total market value of their
securities owned directly by foreign
persons—aggregated over all securities
issued by all U.S. subsidiaries and
affiliates of the firm, including
investment companies, trusts, and other
legal entities created by the firm—is
$200 million or more as of June 30,
2024. U.S. issuers should report only
foreign holdings of their securities that
are directly held for foreign residents,
i.e., where no U.S.-resident custodian or
central securities depository is used.
Securities held by U.S. nominees, such
as bank or broker custody departments,
should be considered to be U.S.-held
securities as far as the issuer is
concerned.
(3) U.S. persons who receive a letter
from the Federal Reserve Bank of New
York that requires the recipient of the
letter to file Schedule 1, even if the
recipient is under the exemption level
of $200 million and need only report
‘‘exempt’’ on Schedule 1.
What To Report: This report will
collect information on foreign resident
holdings of U.S. securities, including
equities, short-term debt securities
(including selected money market
instruments), and long-term debt
securities.
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How To Report: Copies of the survey
forms and instructions, which contain
complete information on reporting
procedures and definitions, may be
obtained at the website address given
above in the Summary, or by contacting
the survey staff of the Federal Reserve
Bank of New York at (212) 720–6300 or
(646) 720–6300, email: SHLA.help@
ny.frb.org. The mailing address is:
Federal Reserve Bank of New York, Data
and Statistics Function, 6th Floor, 33
Liberty Street, New York, NY 10045–
0001. Inquiries can also be made to the
Federal Reserve Board of Governors, at
(202) 452–3476, or to Dwight Wolkow,
at (202) 622–1276, or by email:
comments2TIC@do.treas.gov.
When To Report: Data should be
submitted to the Federal Reserve Bank
of New York, acting as fiscal agent for
the Department of the Treasury, by
August 30, 2024.
Paperwork Reduction Act Notice: This
data collection has been approved by
the Office of Management and Budget
(OMB) in accordance with the
Paperwork Reduction Act and assigned
control number 1505–0123. An agency
may not conduct or sponsor, and a
person is not required to respond to, a
collection of information unless it
displays a valid control number
assigned by OMB. The estimated
average annual burden associated with
this collection of information is 321
hours per report for custodians of
securities (the burden varies widely and
we estimate 486 hours for the largest
custodians), 61 hours per report for
issuers of securities that have data to
report and are not custodians (we
estimate 110 hours for the largest
issuers), and 17 hours per report for
those who file as exempt in a
benchmark survey. Comments
concerning the accuracy of this burden
estimate and suggestions for reducing
this burden should be directed to the
Department of the Treasury, Office of
International Affairs, Attention:
Administrator, International Portfolio
Investment Data Reporting Systems,
Room 1050, Washington, DC 20220, or
by email: comments2TIC@do.treas.gov,
and to OMB, Attention: Desk Officer for
the Department of the Treasury, Office
of Information and Regulatory Affairs,
Washington, DC 20503.
Dwight Wolkow,
Administrator, International Portfolio
Investment Data Reporting Systems.
[FR Doc. 2024–04817 Filed 3–6–24; 8:45 am]
BILLING CODE 4810–AK–P
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]]>Agencies
[Federal Register Volume 89, Number 46 (Thursday, March 7, 2024)]
[Notices]
[Pages 16621-16622]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-04835]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Extension of Information Collection Request Submitted
for Public Comment; Comment Request Treaty-Based Return Position
Disclosure
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 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 treaty-based return position disclosure.
DATES: Written comments should be received on or before May 6, 2024 to
be assured of consideration.
ADDRESSES: Direct all written comments to Andr[eacute]s Garcia,
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW,
Washington, DC 20224, or by email to [email protected]. Please
include, ``OMB Number: 1545-1354--Public Comment Request Notice'' in
the Subject line.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the form and instructions should be directed to Ronald J.
Durbala, at (202) 317-5746, at Internal Revenue Service, Room 6526,
1111 Constitution Avenue NW, Washington, DC 20224, or through the
internet at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Treaty-Based Return Position Disclosure.
OMB Number: 1545-1354.
Document Number: 8833.
Abstract: Revenue Procedure 2010-19 provides guidance for
individuals who emigrate from Canada and wish to make an election for
U.S. federal income tax purposes. Form 8833 is used by taxpayers to
make the treaty-based return position disclosure required by section
6114.
Current Actions: There are no changes to the burden previously
approved by OMB. This request is to extend the current approval for
another 3 years.
Type of Review: Extension of a currently approved collection.
Affected Public: Business and other for-profit organizations.
Estimated Number of Respondents: 4,100.
Estimated Time per Respondent: 6 hrs, 16 min.
Estimated Total Annual Burden Hours: 25,740.
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 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.
Desired Focus of Comments: The Internal Revenue Service (IRS) is
[[Page 16622]]
particularly interested in comments that:
Evaluate whether the proposed collection of information is
necessary for the proper performance of the functions of the agency,
including whether the information will have practical utility.
Evaluate the accuracy of the agency's estimate of the
burden of the proposed collection of information, including the
validity of the methodology and assumptions used.
Enhance the quality, utility, and clarity of the
information to be collected; and
Minimize the burden of the collection of information on
those who are to respond, including using appropriate automated,
electronic, mechanical, or other technological collection techniques or
other forms of information technology, e.g., by permitting electronic
submissions of responses.
Comments submitted in response to this notice will be summarized
and/or included in the ICR for OMB approval of the extension of the
information collection; they will also become a matter of public
record.
Approved: March 4, 2024.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2024-04835 Filed 3-6-24; 8:45 am]
BILLING CODE 4830-01-P
