81 FR 45371 - Proposed Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 81, Issue 134 (July 13, 2016)

Page Range		45371-45371
FR Document		2016-16556

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)). Currently, the IRS is soliciting comments concerning financial asset securitization investment trust; real estate mortgage investment conduits; real estate mortgage investment conduits.

Federal Register, Volume 81 Issue 134 (Wednesday, July 13, 2016)

[Federal Register Volume 81, Number 134 (Wednesday, July 13, 2016)]
[Notices]
[Page 45371]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-16556]


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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.

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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)). Currently, the IRS is soliciting comments concerning 
financial asset securitization investment trust; real estate mortgage 
investment conduits; real estate mortgage investment conduits.

DATES: Written comments should be received on or before September 12, 
2016 to be assured of consideration.

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

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the regulations should be directed to Allan Hopkins at 
Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., 
Washington, DC 20224, or through the Internet at 
[email protected].

SUPPLEMENTARY INFORMATION:
    Title: Financial Asset Securitization Investment Trusts; Real 
Estate Mortgage Investment Conduits.
    OMB Number: 1545-1675. Regulation Project Number: [REG-100276-97; 
REG-122450-98]; TD 9004 (final).
    Abstract: REG-122450-98 Sections 1.860E-1(c)(4)-(10) of the 
Treasury Regulations provide circumstances under which a transferor of 
a noneconomic residual interest in a Real Estate Mortgage Investment 
Conduit (REMIC) meeting the investigation, and two representation 
requirements may avail itself of the safe harbor by satisfying either 
the formula test or asset test. This regulation provides start-up and 
transitional rules applicable to financial asset securitization 
investment trust. TD 9004 contains final regulations relating to safe 
harbor transfers of noneconomic residual interests in real estate 
mortgage investment conduits (REMICs). The final regulations provide 
additional limitations on the circumstances under which transferors may 
claim safe harbor treatment.
    Current Actions: The original NPRM (REG-100276-97; REG-122450-97) 
combined proposed rulemaking activities for (1) Financial Asset 
Securitization Investment Trusts (FASIT) and (2) Real Estate Mortgage 
Investment (REMIC). Only the rules applicable to REMIC were finalized 
under Sec.  1.860E-1 by TD 9004. Public Law 108-357 later repealed the 
FASIT requirements under 26 U.S.C. 860H through 860L.
    Type of Review: Reinstatement of a previously approved collection.
    Affected Public: Business or other for-profit.
    Estimated Number of Respondents and/or Record-Keeping: 470.
    Estimated Average Annual Burden Hours per Respondent and/or Record-
keeping: 1 hour.
    Estimated Total Annual Reporting and/or Record Keeping Burden: 470.
    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 8, 2016.
Allan Hopkins,
Tax Analyst.
[FR Doc. 2016-16556 Filed 7-12-16; 8:45 am]
 BILLING CODE 4830-01-P

Federal Register / Vol. 81, No. 134 / Wednesday, July 13, 2016 / Notices 45371

comments will become a matter of DC 20224, or through the Internet at Request for Comments: Comments
public record. Comments are invited on: Allan.M.Hopkins@irs.gov. submitted in response to this notice will
(a) Whether the collection of SUPPLEMENTARY INFORMATION: be summarized and/or included in the
information is necessary for the proper Title: Financial Asset Securitization request for OMB approval. All
performance of the functions of the Investment Trusts; Real Estate Mortgage comments will become a matter of
agency, including whether the Investment Conduits. public record. Comments are invited on:
information shall have practical utility; OMB Number: 1545–1675. Regulation (a) Whether the collection of
(b) the accuracy of the agency’s estimate Project Number: [REG–100276–97; information is necessary for the proper
of the burden of the collection of REG–122450–98]; TD 9004 (final). performance of the functions of the
information; (c) ways to enhance the Abstract: REG–122450–98 Sections agency, including whether the
quality, utility, and clarity of the 1.860E–1(c)(4)–(10) of the Treasury information shall have practical utility;
information to be collected; (d) ways to Regulations provide circumstances (b) the accuracy of the agency’s estimate
minimize the burden of the collection of under which a transferor of a of the burden of the collection of
information on respondents, including noneconomic residual interest in a Real information; (c) ways to enhance the
through the use of automated collection Estate Mortgage Investment Conduit quality, utility, and clarity of the
techniques or other forms of information (REMIC) meeting the investigation, and information to be collected; (d) ways to
technology; and (e) estimates of capital two representation requirements may minimize the burden of the collection of
or start-up costs and costs of operation, avail itself of the safe harbor by information on respondents, including
maintenance, and purchase of services satisfying either the formula test or asset through the use of automated collection
to provide information. test. This regulation provides start-up techniques or other forms of information
Approved: July 8, 2016.
and transitional rules applicable to technology; and (e) estimates of capital
financial asset securitization investment or start-up costs and costs of operation,
Allan Hopkins,
trust. TD 9004 contains final regulations maintenance, and purchase of services
Tax Analyst. relating to safe harbor transfers of to provide information.
[FR Doc. 2016–16554 Filed 7–12–16; 8:45 am] noneconomic residual interests in real Approved: July 8, 2016.
BILLING CODE 4830–01–P estate mortgage investment conduits
Allan Hopkins,
(REMICs). The final regulations provide
additional limitations on the Tax Analyst.
DEPARTMENT OF THE TREASURY circumstances under which transferors [FR Doc. 2016–16556 Filed 7–12–16; 8:45 am]
may claim safe harbor treatment. BILLING CODE 4830–01–P
Internal Revenue Service
Current Actions: The original NPRM
Proposed Collection; Comment (REG–100276–97; REG–122450–97)
combined proposed rulemaking DEPARTMENT OF THE TREASURY
Request for Regulation Project
activities for (1) Financial Asset
AGENCY: Internal Revenue Service (IRS), Internal Revenue Service
Securitization Investment Trusts
Treasury. (FASIT) and (2) Real Estate Mortgage Proposed Collection; Comment
ACTION: Notice and request for Investment (REMIC). Only the rules Request for Notice 99–43
comments. applicable to REMIC were finalized
under § 1.860E–1 by TD 9004. Public AGENCY: Internal Revenue Service (IRS),
SUMMARY: The Department of the Law 108–357 later repealed the FASIT Treasury.
Treasury, as part of its continuing effort requirements under 26 U.S.C. 860H ACTION: Notice and request for
to reduce paperwork and respondent through 860L. comments.
burden, invites the general public and Type of Review: Reinstatement of a
other Federal agencies to take this previously approved collection. SUMMARY: The Department of the
opportunity to comment on proposed Affected Public: Business or other for- Treasury, as part of its continuing effort
and/or continuing information profit. to reduce paperwork and respondent
collections, as required by the Estimated Number of Respondents burden, invites the general public and
Paperwork Reduction Act of 1995, and/or Record-Keeping: 470. other Federal agencies to take this
Public Law 104–13(44 U.S.C. Estimated Average Annual Burden opportunity to comment on proposed
3506(c)(2)(A)). Currently, the IRS is Hours per Respondent and/or Record- and/or continuing information
soliciting comments concerning keeping: 1 hour. collections, as required by the
financial asset securitization investment Estimated Total Annual Reporting Paperwork Reduction Act of 1995,
trust; real estate mortgage investment and/or Record Keeping Burden: 470. Public Law 104–13 (44 U.S.C.
conduits; real estate mortgage The following paragraph applies to all 3506(c)(2)(A)). Currently, the IRS is
investment conduits. of the collections of information covered soliciting comments concerning Notice
by this notice: 99–43, Nonrecognition Exchanges under
DATES: Written comments should be
An agency may not conduct or Section 897.
received on or before September 12, sponsor, and a person is not required to
2016 to be assured of consideration. respond to, a collection of information DATES: Written comments should be
ADDRESSES: Direct all written comments unless the collection of information received on or before September 12,
to Tuawana Pinkston, Internal Revenue displays a valid OMB control number. 2016 to be assured of consideration.
Service, Room 6526, 1111 Constitution Books or records relating to a ADDRESSES: Direct all written comments
jstallworth on DSK7TPTVN1PROD with NOTICES

Avenue NW., Washington, DC 20224. collection of information must be to Tuawana Pinkston, Internal Revenue
FOR FURTHER INFORMATION CONTACT: retained as long as their contents may Service, Room 6526, 1111 Constitution
Requests for additional information or become material in the administration Avenue NW., Washington, DC 20224.
copies of the regulations should be of any internal revenue law. Generally, FOR FURTHER INFORMATION CONTACT:
directed to Allan Hopkins at Internal tax returns and tax return information Requests for additional information or
Revenue Service, Room 6129, 1111 are confidential, as required by 26 copies of this regulation should be
Constitution Avenue NW., Washington, U.S.C. 6103. directed to Allan Hopkins, Internal

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Document Created: 2016-07-13 01:43:40
Document Modified: 2016-07-13 01:43:40

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		Notice and request for comments.
Dates		Written comments should be received on or before September 12, 2016 to be assured of consideration.
Contact		Requests for additional information or copies of the regulations should be directed to Allan Hopkins at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the Internet at [email protected]
FR Citation		81 FR 45371

81 FR 45371 - Proposed Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURYInternal Revenue Service

Federal Register Volume 81, Issue 134 (July 13, 2016)

DEPARTMENT OF THE TREASURY
Internal Revenue Service