80 FR 44423 - Proposed Collection; Comment Request for Regulation

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 80, Issue 143 (July 27, 2015)

The Department of the Treasury, 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, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). The IRS is soliciting comments concerning collection requirements related to application of section 338 to insurance companies.

[Federal Register Volume 80, Number 143 (Monday, July 27, 2015)]
[Notices]
[Pages 44423-44424]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-18387]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Regulation

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, 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, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). The IRS is soliciting comments concerning collection 
requirements related to application of section 338 to insurance 
companies.

DATES: Written comments should be received on or before September 25, 
2015 to be assured of consideration.

ADDRESSES: Direct all written comments to Christie Preston, Internal 
Revenue Service, Room 6129, 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 R. Joseph 
Durbala, (202) 317-5746, at Internal Revenue Service, Room 6129, 1111 
Constitution Avenue NW., Washington, DC 20224, or through the Internet 
at [email protected].

[[Page 44424]]


SUPPLEMENTARY INFORMATION:
    Title: Application of section 338 to Insurance Companies.
    OMB Number: 1545-1990.
    Form Number: T.D. 9377.
    Abstract: Final regulations and removal of temporary regulations.
    This document contains final regulations under section 197 of the 
Internal Revenue Code (Code) that apply to a section 197 intangible 
resulting from an assumption reinsurance transaction, and under section 
338 that apply to reserve increases after a deemed asset sale. The 
final regulations also provide guidance with respect to existing 
section 846(e) elections to use historical loss payment patterns. The 
final regulations apply to insurance companies.
    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: Businesses and other for-profit organizations, 
Farms.
    Estimated Number of Respondents: 12.
    Estimated Time per Respondent: 1 hour.
    Estimated Total Annual Burden Hours: 12.
    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: July 21, 2015.
Christie Preston,
IRS Reports Clearance Officer.
[FR Doc. 2015-18387 Filed 7-24-15; 8:45 am]
BILLING CODE 4830-01-P