81 FR 60124 - Submission for OMB Review; Comment Request

DEPARTMENT OF THE TREASURY

Federal Register Volume 81, Issue 169 (August 31, 2016)

Page Range		60124-60125
FR Document		2016-20993
Federal Register, Volume 81 Issue 169 (Wednesday, August 31, 2016)
[Federal Register Volume 81, Number 169 (Wednesday, August 31, 2016)]
[Notices]
[Pages 60124-60125]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-20993]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

August 26, 2016.
    The Department of the Treasury will submit the following 
information collection requests to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, Public Law 104-13, on or after the date of 
publication of this notice.

DATES: Comments should be received on or before September 30, 2016 to 
be assured of consideration.

ADDRESSES: Send comments regarding the burden estimates, or any other 
aspect of the information collections, including suggestions for 
reducing the burden, to (1) Office of Information and Regulatory 
Affairs, Office of Management and Budget, Attention: Desk Officer for 
Treasury, New Executive Office Building, Room 10235, Washington, DC 
20503, or email at [email protected] and (2) Treasury PRA 
Clearance Officer, 1750 Pennsylvania Ave. NW., Suite 8117, Washington, 
DC 20220, or email at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained by emailing [email protected], calling (202) 622-1295, or 
viewing the entire information collection request at www.reginfo.gov.

Internal Revenue Service (IRS)

    OMB Control Number: 1545-0159.
    Type of Review: Extension of a currently approved collection.
    Title: Annual Return To Report Transactions With Foreign Trusts and 
Receipt of Certain Foreign Gifts.
    Form: Form 3520.
    Abstract: U.S. persons (and executors of estates of U.S. decedents) 
file this form to report: Certain transactions with foreign trusts; 
ownership of foreign trusts under the rules of sections Internal 
Revenue Code 671 through 679; and receipt of certain large gifts or 
bequests from certain foreign persons.
    Estimated Total Annual Burden Hours: 71,742.

    OMB Control Number: 1545-0213.
    Type of Review: Extension of a currently approved collection.
    Title: Form 5578--Annual Certification of Racial Nondiscrimination 
for a Private School Exempt From Federal Income Tax.
    Form: Form 5578.
    Abstract: Form 5578 may be used by organizations that operate tax-
exempt private schools to provide the Internal Revenue Service with the 
annual certification of racial nondiscrimination required by Rev. Proc. 
75-50.
    Estimated Total Annual Burden Hours: 3,730.

    OMB Control Number: 1545-0742.
    Type of Review: Extension of a currently approved collection.
    Title: EE-111-80 (TD 8019--Final) Public Inspection of Exempt 
Organization Return.
    Abstract: Section 6104(b) authorizes the Service to make available 
to the public the returns required to be filed by exempt organizations. 
The information requested in Treasury Reg. section 301.6104(b)-1(b)(4) 
is necessary in order for the Service not to disclose confidential 
business information furnished by businesses which contribute to exempt 
black lung trusts.

[[Page 60125]]

    Estimated Total Annual Burden Hours: 22.

    OMB Control Number: 1545-0939.
    Type of Review: Extension of a currently approved collection.
    Title: Form 8404--Interest Charge on DISC-Related Deferred Tax 
Liability.
    Form: Form 8404.
    Abstract: Shareholders of Interest Charge Domestic International 
Sales Corporations (IC-DISCs) use Form 8404 to figure and report an 
interest charge on their DISC-related deferred tax liability. The 
interest charge is required by Internal Revenue Code section 995(f). 
IRS uses the form to determine whether the shareholder has correctly 
figured and paid the interest charge on a timely basis.
    Estimated Total Annual Burden Hours: 15,580.

    OMB Control Number: 1545-1452.
    Type of Review: Extension of a currently approved collection.
    Title: FI-43-94 (TD 8649--Final) Regulations Under Section 1258 of 
the Internal Revenue Code of 1986; Netting Rule for Certain Conversion 
Transactions.
    Abstract: Section 1258 recharacterizes capital gains from 
conversion transactions as ordinary income to the extent of the time 
value element. This regulation provides that certain gains and losses 
may be netted for purposes of determining the amount of gain 
recharacterized.
    Estimated Total Annual Burden Hours: 5,000.

    OMB Control Number: 1545-1507.
    Type of Review: Extension of a currently approved collection.
    Title: Treatment of Shareholders of Certain Passive Investment 
Companies.
    Estimated Total Annual Burden Hours: 100,000.

    OMB Control Number: 1545-1551.
    Type of Review: Revision of a currently approved collection.
    Title: Changes in Methods of Accounting (RP 2016-29).
    Abstract: This revenue procedure (2016-29) provides the procedures 
by which a taxpayer may obtain automatic consent for a change in method 
of accounting described in the appendix of Revenue Procedure 2011-14.
    Estimated Total Annual Burden Hours: 30,580.

    OMB Control Number: 1545-1556.
    Type of Review: Extension of a currently approved collection.
    Title: TD 8786--Source of Income From Sales of Inventory Partly 
From Sources Within a Possession of the U.S.; Also, Source of Income 
Derived From Certain Purchases From a Corp. Electing Sec. 936.
    Estimated Total Annual Burden Hours: 500.

    OMB Control Number: 1545-1559.
    Type of Review: Extension of a currently approved collection.
    Title: Revenue Procedures 98-46 and 97-44, LIFO Conformity 
Requirement.
    Abstract: Rev. Proc. 98-46 extended the relief in Rev. Proc. 97-44 
to medium and heavy truck dealers.
    Estimated Total Annual Burden Hours: 100,000.

    OMB Control Number: 1545-1704.
    Type of Review: Revision of a currently approved collection.
    Title: Change in Minimum Funding Method (Rev. Proc. 2016-XX).
    Abstract: This revenue procedure provides a mechanism whereby a 
plan sponsor or plan administrator may obtain a determination from the 
Internal Revenue Service that its proposed change in the method of 
funding its pension plan(s) meets the standards of sections 412 of the 
Internal Revenue Code. This updates Rev. Proc. 2000-41 based on changes 
in law primarily due to the Pension Protection Act of 2006.
    Estimated Total Annual Burden Hours: 234.

    OMB Control Number: 1545-1706.
    Type of Review: Extension of a currently approved collection.
    Title: TD 9315--Section 1503(d) Closing Agreement Requests.
    Abstract: Revenue Procedure 2000-42 informs taxpayers of the 
information they must submit to request a closing agreement under Reg. 
S1.1503-2(g)(2)(iv)(B)(2)(i) to prevent the recapture of dual 
consolidated losses (DCLs) upon the occurrence of certain triggering 
events.
    TD 9315 contains final regulations under section 1503(d) of the 
Internal Revenue Code (Code) regarding dual consolidated losses. 
Section 1503(d) generally provides that a dual consolidated loss of a 
dual resident corporation cannot reduce the taxable income of any other 
member of the affiliated group unless, to the extent provided in 
regulations, the loss does not offset the income of any foreign 
corporation. Similar rules apply to losses of separate units of 
domestic corporations. These final regulations address various dual 
consolidated loss issues, including exceptions to the general 
prohibition against using a dual consolidated loss to reduce the 
taxable income of any other member of the affiliated group.
    Estimated Total Annual Burden Hours: 2,000.

    OMB Control Number: 1545-2156.
    Type of Review: Revision of a currently approved collection.
    Title: Revenue Procedure 2010-13, Disclosure of Activities Grouped 
under Section 469.
    Abstract: This revenue procedure requires taxpayers to report to 
the Internal Revenue Service their groupings and regroupings of 
activities and the addition of specific activities within their 
existing groupings of activities for purposes of section 469 of the 
Internal Revenue Code and Sec.  1.469-4 of the Income Tax Regulations.
    Estimated Total Annual Burden Hours: 36,000.

    OMB Control Number: 1545-2247.
    Type of Review: Extension of a currently approved collection.
    Title: TD 9633--Limitations on Duplication of Net Built-in Losses.
    Abstract: These regulations will provide guidance for applying 26 
U.S.C. 362(e)(2), relating to the limitation on transfer of built-in 
losses.
    Estimated Total Annual Burden Hours: 75,000.

Brenda Simms,
Treasury PRA Clearance Officer.
[FR Doc. 2016-20993 Filed 8-30-16; 8:45 am]
 BILLING CODE 4830-01-P
60124 Federal Register / Vol. 81, No. 169 / Wednesday, August 31, 2016 / Notices

DEPARTMENT OF THE TREASURY Estimated Total Annual Burden including suggestions for reducing the
Hours: 113,661 hrs. burden, to (1) Office of Information and
Internal Revenue Service The following paragraph applies to all Regulatory Affairs, Office of
of the collections of information covered Management and Budget, Attention:
Proposed Collection; Comment by this notice: Desk Officer for Treasury, New
Request for Form 8038–B An agency may not conduct or Executive Office Building, Room 10235,
AGENCY: Internal Revenue Service (IRS), sponsor, and a person is not required to Washington, DC 20503, or email at
Treasury. respond to, a collection of information OIRA_Submission@OMB.EOP.gov and
unless the collection of information (2) Treasury PRA Clearance Officer,
ACTION: Notice and request for
displays a valid OMB control number. 1750 Pennsylvania Ave. NW., Suite
comments. Books or records relating to a collection 8117, Washington, DC 20220, or email
SUMMARY: The Department of the of information must be retained as long at PRA@treasury.gov.
Treasury, as part of its continuing effort as their contents may become material FOR FURTHER INFORMATION CONTACT:
to reduce paperwork and respondent in the administration of any internal Copies of the submissions may be
burden, invites the general public and revenue law. Generally, tax returns and obtained by emailing PRA@treasury.gov,
other Federal agencies to take this tax return information are confidential, calling (202) 622–1295, or viewing the
opportunity to comment on proposed as required by 26 U.S.C. 6103. entire information collection request at
and/or continuing information Request for Comments: Comments www.reginfo.gov.
collections, as required by the submitted in response to this notice will
be summarized and/or included in the Internal Revenue Service (IRS)
Paperwork Reduction Act of 1995,
Public Law 104–13 (44 U.S.C. request for OMB approval. All OMB Control Number: 1545–0159.
3506(c)(2)(A)). Currently, the IRS is comments will become a matter of Type of Review: Extension of a
soliciting comments concerning Form public record. Comments are invited on: currently approved collection.
8038–B, Information Return for Build (a) Whether the collection of Title: Annual Return To Report
America Bonds and Recovery Zone information is necessary for the proper Transactions With Foreign Trusts and
Economic Development Bonds. performance of the functions of the Receipt of Certain Foreign Gifts.
agency, including whether the Form: Form 3520.
DATES: Written comments should be Abstract: U.S. persons (and executors
information shall have practical utility;
received on or before October 31, 2016 of estates of U.S. decedents) file this
(b) the accuracy of the agency’s estimate
to be assured of consideration. form to report: Certain transactions with
of the burden of the collection of
ADDRESSES: Direct all written comments information; (c) ways to enhance the foreign trusts; ownership of foreign
to Tuawana Pinkston, Internal Revenue quality, utility, and clarity of the trusts under the rules of sections
Service, Room 6526, 1111 Constitution information to be collected; (d) ways to Internal Revenue Code 671 through 679;
Avenue NW., Washington, DC 20224. minimize the burden of the collection of and receipt of certain large gifts or
FOR FURTHER INFORMATION CONTACT: information on respondents, including bequests from certain foreign persons.
Requests for additional information or through the use of automated collection Estimated Total Annual Burden
copies of notice should be directed to techniques or other forms of information Hours: 71,742.
Allan Hopkins at Internal Revenue technology; and (e) estimates of capital OMB Control Number: 1545–0213.
Service, Room 6129, 1111 Constitution or start-up costs and costs of operation, Type of Review: Extension of a
Avenue NW., Washington, DC 20224, or maintenance, and purchase of services currently approved collection.
through the Internet, at to provide information. Title: Form 5578—Annual
Allan.M.Hopkins@irs.gov. Certification of Racial
Approved: August 23, 2016. Nondiscrimination for a Private School
SUPPLEMENTARY INFORMATION: Allan Hopkins, Exempt From Federal Income Tax.
Title: Information Return for Build Tax Analyst. Form: Form 5578.
America Bonds and Recovery Zone [FR Doc. 2016–20984 Filed 8–30–16; 8:45 am] Abstract: Form 5578 may be used by
Economic Development Bonds. BILLING CODE 4830–01–P organizations that operate tax-exempt
OMB Number: 1545–2161. private schools to provide the Internal
Notice Number: Form 8038–B. Revenue Service with the annual
Abstract: Form 8038–B has been DEPARTMENT OF THE TREASURY certification of racial nondiscrimination
developed to assist issuers of the new required by Rev. Proc. 75–50.
types of Build America and Recovery Submission for OMB Review; Estimated Total Annual Burden
Zone Economic Development Bonds Comment Request Hours: 3,730.
enacted under the American Recovery OMB Control Number: 1545–0742.
and Reinvestment Act of 2009 to August 26, 2016.
Type of Review: Extension of a
capture information required by IRC The Department of the Treasury will
currently approved collection.
section 149(e). submit the following information Title: EE–111–80 (TD 8019—Final)
Current Actions: Extension of collection requests to the Office of Public Inspection of Exempt
currently approved collection. There are Management and Budget (OMB) for Organization Return.
no changes being made to this collection review and clearance in accordance Abstract: Section 6104(b) authorizes
at this time. with the Paperwork Reduction Act of the Service to make available to the
Type of Review: Extension of 1995, Public Law 104–13, on or after the public the returns required to be filed by
mstockstill on DSK3G9T082PROD with NOTICES

currently approved collection. date of publication of this notice. exempt organizations. The information
Affected Public: Not for profit DATES: Comments should be received on requested in Treasury Reg. section
institutions. or before September 30, 2016 to be 301.6104(b)–1(b)(4) is necessary in order
Estimated Number of Respondents: assured of consideration. for the Service not to disclose
5,880. ADDRESSES: Send comments regarding confidential business information
Estimated Average Time per the burden estimates, or any other furnished by businesses which
Respondent: 19 hrs., 19 mins. aspect of the information collections, contribute to exempt black lung trusts.

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Federal Register / Vol. 81, No. 169 / Wednesday, August 31, 2016 / Notices 60125

Estimated Total Annual Burden Estimated Total Annual Burden Title: Revenue Procedure 2010–13,
Hours: 22. Hours: 500. Disclosure of Activities Grouped under
OMB Control Number: 1545–0939. OMB Control Number: 1545–1559. Section 469.
Type of Review: Extension of a Type of Review: Extension of a Abstract: This revenue procedure
currently approved collection. currently approved collection. requires taxpayers to report to the
Title: Form 8404—Interest Charge on Title: Revenue Procedures 98–46 and Internal Revenue Service their
DISC-Related Deferred Tax Liability. 97–44, LIFO Conformity Requirement. groupings and regroupings of activities
Form: Form 8404. Abstract: Rev. Proc. 98–46 extended and the addition of specific activities
Abstract: Shareholders of Interest the relief in Rev. Proc. 97–44 to medium within their existing groupings of
Charge Domestic International Sales and heavy truck dealers. activities for purposes of section 469 of
Corporations (IC–DISCs) use Form 8404 Estimated Total Annual Burden the Internal Revenue Code and § 1.469–
to figure and report an interest charge Hours: 100,000. 4 of the Income Tax Regulations.
on their DISC-related deferred tax OMB Control Number: 1545–1704. Estimated Total Annual Burden
liability. The interest charge is required Type of Review: Revision of a Hours: 36,000.
by Internal Revenue Code section 995(f). currently approved collection. OMB Control Number: 1545–2247.
IRS uses the form to determine whether Title: Change in Minimum Funding Type of Review: Extension of a
the shareholder has correctly figured Method (Rev. Proc. 2016–XX). currently approved collection.
and paid the interest charge on a timely Abstract: This revenue procedure Title: TD 9633—Limitations on
basis. provides a mechanism whereby a plan Duplication of Net Built-in Losses.
Estimated Total Annual Burden sponsor or plan administrator may Abstract: These regulations will
Hours: 15,580. obtain a determination from the Internal provide guidance for applying 26 U.S.C.
OMB Control Number: 1545–1452. Revenue Service that its proposed 362(e)(2), relating to the limitation on
Type of Review: Extension of a change in the method of funding its transfer of built-in losses.
currently approved collection. pension plan(s) meets the standards of Estimated Total Annual Burden
Title: FI–43–94 (TD 8649—Final) sections 412 of the Internal Revenue Hours: 75,000.
Regulations Under Section 1258 of the Code. This updates Rev. Proc. 2000–41
Internal Revenue Code of 1986; Netting based on changes in law primarily due Brenda Simms,
Rule for Certain Conversion to the Pension Protection Act of 2006. Treasury PRA Clearance Officer.
Transactions. Estimated Total Annual Burden [FR Doc. 2016–20993 Filed 8–30–16; 8:45 am]
Abstract: Section 1258 recharacterizes Hours: 234. BILLING CODE 4830–01–P
capital gains from conversion OMB Control Number: 1545–1706.
transactions as ordinary income to the Type of Review: Extension of a
extent of the time value element. This currently approved collection. DEPARTMENT OF THE TREASURY
regulation provides that certain gains Title: TD 9315—Section 1503(d)
and losses may be netted for purposes Submission for OMB Review;
Closing Agreement Requests.
of determining the amount of gain Abstract: Revenue Procedure 2000–42 Comment Request
recharacterized. informs taxpayers of the information August 26, 2016.
Estimated Total Annual Burden they must submit to request a closing
Hours: 5,000. The Department of the Treasury will
agreement under Reg. S1.1503–
submit the following information
OMB Control Number: 1545–1507. 2(g)(2)(iv)(B)(2)(i) to prevent the
collection request to the Office of
Type of Review: Extension of a recapture of dual consolidated losses
Management and Budget (OMB) for
currently approved collection. (DCLs) upon the occurrence of certain
review and clearance in accordance
Title: Treatment of Shareholders of triggering events.
with the Paperwork Reduction Act of
Certain Passive Investment Companies. TD 9315 contains final regulations
Estimated Total Annual Burden 1995, Public Law 104–13, on or after the
under section 1503(d) of the Internal
Hours: 100,000. date of publication of this notice.
Revenue Code (Code) regarding dual
consolidated losses. Section 1503(d) DATES: Comments should be received on
OMB Control Number: 1545–1551.
Type of Review: Revision of a generally provides that a dual or before September 30, 2016 to be
currently approved collection. consolidated loss of a dual resident assured of consideration.
Title: Changes in Methods of corporation cannot reduce the taxable ADDRESSES: Send comments regarding
Accounting (RP 2016–29). income of any other member of the the burden estimates, or any other
Abstract: This revenue procedure affiliated group unless, to the extent aspect of the information collection,
(2016–29) provides the procedures by provided in regulations, the loss does including suggestions for reducing the
which a taxpayer may obtain automatic not offset the income of any foreign burden, to (1) Office of Information and
consent for a change in method of corporation. Similar rules apply to Regulatory Affairs, Office of
accounting described in the appendix of losses of separate units of domestic Management and Budget, Attention:
Revenue Procedure 2011–14. corporations. These final regulations Desk Officer for Treasury, New
Estimated Total Annual Burden address various dual consolidated loss Executive Office Building, Room 10235,
Hours: 30,580. issues, including exceptions to the Washington, DC 20503, or email at
OMB Control Number: 1545–1556. general prohibition against using a dual OIRA_Submission@OMB.EOP.gov and
Type of Review: Extension of a consolidated loss to reduce the taxable (2) Treasury PRA Clearance Officer,
mstockstill on DSK3G9T082PROD with NOTICES

currently approved collection. income of any other member of the 1750 Pennsylvania Ave. NW., Suite
Title: TD 8786—Source of Income affiliated group. 8117, Washington, DC 20220, or email
From Sales of Inventory Partly From Estimated Total Annual Burden at PRA@treasury.gov.
Sources Within a Possession of the U.S.; Hours: 2,000. FOR FURTHER INFORMATION CONTACT:
Also, Source of Income Derived From OMB Control Number: 1545–2156. Copies of the submission may be
Certain Purchases From a Corp. Electing Type of Review: Revision of a obtained by emailing PRA@treasury.gov,
Sec. 936. currently approved collection. calling (202) 622–1295, or viewing the

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Document Created: 2018-02-02 12:15:25
Document Modified: 2018-02-02 12:15:25
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
Dates		Comments should be received on or before September 30, 2016 to be assured of consideration.
Contact		Copies of the submissions may be obtained by emailing [email protected], calling (202) 622-1295, or viewing the entire information collection request at www.reginfo.gov.
FR Citation		81 FR 60124