Agency Collection Activities; Requesting Comments Allocation of Expenses by Real Estate Mortgage Investment Conduits (REMIC), 13825 [2025-05127]

Agencies

• Internal Revenue Service
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 90, Number 57 (Wednesday, March 26, 2025)]
[Notices]
[Page 13825]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-05127]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Agency Collection Activities; Requesting Comments Allocation of 
Expenses by Real Estate Mortgage Investment Conduits (REMIC)

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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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 
proposed and/or continuing information collections, as required by the 
Paperwork Reduction Act of 1995. The IRS is soliciting comments 
concerning final regulations in Treasury Decisions (TD) 8366 and 8431 
relating to information disclosures for the allocation of expenses by 
real estate mortgage investment conduits (REMIC).

DATES: Written comments should be received on or before May 27, 2025 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Andres Garcia, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 
20224, or by email to [email protected]. Include OMB Control No. 
1545-1018 in the subject line of the message.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of this collection should be directed to Marcus McCrary, (470) 
769-2001, at Internal Revenue Service, Room 6526, 1111 Constitution 
Avenue NW, Washington, DC 20224, or through the internet at 
[email protected].

SUPPLEMENTARY INFORMATION: The IRS is currently seeking comments 
concerning the following information collection tools, reporting, and 
record-keeping requirements:
    Title: Allocation of Expenses by Real Estate Mortgage Investment 
Conduits.
    OMB Control Number: 1545-1018.
    Regulation Project Number: TD 8266 and 8431.
    Abstract Internal Revenue Code (IRC) sections 67 and 6049 and their 
regulations provide rules for certain deductions and income, as well as 
information disclosure requirements regarding the income and 
deductions. Treasury Regulations section 1.67-3(f)(4)(ii) requires 
single-class REMICs to provide certain IRC section 67 information to a 
person holding a regular interest in the single-class REMIC pursuant to 
section 1.6049-7(e). Treasury Regulations section 1.6049-7(e) requires 
the REMIC to provide certain information to brokers and middlemen who 
request the information to complete information returns. Treasury 
Regulations Section 1.6049-7(f)(7) requires brokers and middlemen to 
furnish certain information to corporations, non-calendar year 
taxpayers, and other specified persons who requests the information and 
for whom the broker or middleman holds as a nominee a REMIC regular 
interest or a collateralized debt obligation.
    Current Actions: There is no change to the previously approve 
collection.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Responses: 9,725.
    Estimated Time per Respondent: 6978 minutes.
    Estimated Total Annual Burden Hours: 978.
    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: March 19, 2025.
Marcus W. McCrary,
Tax Analyst.
[FR Doc. 2025-05127 Filed 3-25-25; 8:45 am]
BILLING CODE 4830-01-P