81_FR_66936 81 FR 66748 - Proposed Collection; Comment Request for Form 5471 (and Related Schedules)

81 FR 66748 - Proposed Collection; Comment Request for Form 5471 (and Related Schedules)

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 81, Issue 188 (September 28, 2016)

Page Range66748-66748
FR Document2016-23409

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 Form 5471 (and related schedules), Information Return of U.S. Persons With Respect To Certain Foreign Corporations.

Federal Register, Volume 81 Issue 188 (Wednesday, September 28, 2016) 
[Federal Register Volume 81, Number 188 (Wednesday, September 28, 2016)]
[Notices]
[Page 66748]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-23409]



[[Page 66748]]

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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 5471 (and Related 
Schedules)

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 
Form 5471 (and related schedules), Information Return of U.S. Persons 
With Respect To Certain Foreign Corporations.

DATES: Written comments should be received on or before November 28, 
2016 to be assured of consideration.

ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal 
Revenue Service, Room 6527, 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, at Internal Revenue Service, Room 6129, 1111 Constitution 
Avenue NW., Washington, DC 20224, or at (202) 317-5746, or through the 
internet at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Information Return of U.S. Persons With Respect To Certain 
Foreign Corporations.
    OMB Number: 1545-0704.
    Form Number: 5471 (and related schedules).
    Abstract: Form 5471 and related schedules are used by U.S. persons 
that have an interest in a foreign corporation. The form is used to 
report income from the foreign corporation. The form and schedules are 
used to satisfy the reporting requirements of Internal Revenue Code 
sections 6035, 6038 and 6046 and the regulations thereunder pertaining 
to the involvement of U.S. persons with certain foreign corporations.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB. This form is being submitted for renewal 
purposes only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations and 
Individuals or households.
    Estimated Number of Respondents: 28,380.
    Estimated Time per Respondent: 150 hours, 48 minutes.
    Estimated Total Annual Burden Hours: 4,280,244.
    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: September 21, 2016.
R. Joseph Durbala,
IRS, Tax Analyst.
[FR Doc. 2016-23409 Filed 9-27-16; 8:45 am]
BILLING CODE 4830-01-P

66748 Federal Register / Vol. 81, No. 188 / Wednesday, September 28, 2016 / Notices DEPARTMENT OF THE TREASURY Type of Review: Extension of a SUMMARY: The Department of the currently approved collection. Treasury, as part of its continuing effort Internal Revenue Service Affected Public: Business or other for- to reduce paperwork and respondent profit organizations and Individuals or burden, invites the general public and Proposed Collection; Comment households. other Federal agencies to take this Request for Form 5471 (and Related Estimated Number of Respondents: opportunity to comment on proposed Schedules) 28,380. and/or continuing information AGENCY: Internal Revenue Service (IRS), Estimated Time per Respondent: 150 collections, as required by the Treasury. hours, 48 minutes. Paperwork Reduction Act of 1995, Estimated Total Annual Burden Public Law 104–13 (44 U.S.C. ACTION: Notice and request for Hours: 4,280,244. 3506(c)(2)(A)). Currently, the IRS is comments. The following paragraph applies to all soliciting comments concerning Notice SUMMARY: The Department of the of the collections of information covered 89–61, Imported Substances; Rules for Treasury, as part of its continuing effort by this notice: Filing a Petition. to reduce paperwork and respondent An agency may not conduct or DATES: Written comments should be burden, invites the general public and sponsor, and a person is not required to received on or before November 28, other Federal agencies to take this respond to, a collection of information 2016 to be assured of consideration. opportunity to comment on proposed unless the collection of information ADDRESSES: Direct all written comments and/or continuing information displays a valid OMB control number. to Tuawana Pinkston, Internal Revenue collections, as required by the Books or records relating to a collection Service, Room 6526, 1111 Constitution Paperwork Reduction Act of 1995, of information must be retained as long Avenue NW., Washington, DC 20224. Public Law 104–13 (44 U.S.C. as their contents may become material in the administration of any internal FOR FURTHER INFORMATION CONTACT: 3506(c)(2)(A)). Currently, the IRS is Requests for additional information or soliciting comments concerning Form revenue law. Generally, tax returns and tax return information are confidential, copies of this notice should be directed 5471 (and related schedules), to Martha R. Brinson, Internal Revenue Information Return of U.S. Persons With as required by 26 U.S.C. 6103. Request for Comments: Comments Service, Room 6129, 1111 Constitution Respect To Certain Foreign Avenue NW., Washington, DC 20224, or Corporations. submitted in response to this notice will be summarized and/or included in the through the Internet at DATES: Written comments should be request for OMB approval. All Martha.R.Brinson@irs.gov. received on or before November 28, comments will become a matter of SUPPLEMENTARY INFORMATION: 2016 to be assured of consideration. public record. Comments are invited on: Title: Imported Substances; Rules for ADDRESSES: Direct all written comments (a) Whether the collection of Filing a Petition. to Tuawana Pinkston, Internal Revenue information is necessary for the proper OMB Number: 1545–1117. Service, Room 6527, 1111 Constitution performance of the functions of the Notice Number: Notice 89–61. Avenue NW., Washington, DC 20224. agency, including whether the Abstract: Section 4671 of the Internal information shall have practical utility; Revenue Code imposes a tax on the sale FOR FURTHER INFORMATION CONTACT: (b) the accuracy of the agency’s estimate or use of certain imported taxable Requests for additional information or of the burden of the collection of substances by the importer. Code copies of the form and instructions information; (c) ways to enhance the section 4672 provides an initial list of should be directed to R. Joseph Durbala, quality, utility, and clarity of the taxable substances and provides that at Internal Revenue Service, Room 6129, information to be collected; (d) ways to importers and exporters may petition 1111 Constitution Avenue NW., minimize the burden of the collection of the Secretary of the Treasury to modify Washington, DC 20224, or at (202) 317– information on respondents, including the list. Notice 89–61 sets forth the 5746, or through the internet at through the use of automated collection procedures to be followed in petitioning RJoseph.Durbala@irs.gov. techniques or other forms of information the Secretary. SUPPLEMENTARY INFORMATION: Current Actions: There are no changes Title: Information Return of U.S. technology; and (e) estimates of capital or start-up costs and costs of operation, being made to the notice at this time. Persons With Respect To Certain Type of Review: Extension of a Foreign Corporations. maintenance, and purchase of services to provide information. currently approved collection. OMB Number: 1545–0704. Affected Public: Business or other for- Form Number: 5471 (and related Approved: September 21, 2016. profit organizations. schedules). R. Joseph Durbala, Estimated Number of Respondents: Abstract: Form 5471 and related IRS, Tax Analyst. 100. schedules are used by U.S. persons that [FR Doc. 2016–23409 Filed 9–27–16; 8:45 am] Estimated Time per Respondent: 1 have an interest in a foreign corporation. BILLING CODE 4830–01–P hour. The form is used to report income from Estimated Total Annual Burden the foreign corporation. The form and Hours: 100. schedules are used to satisfy the DEPARTMENT OF THE TREASURY The following paragraph applies to all reporting requirements of Internal of the collections of information covered Revenue Code sections 6035, 6038 and Internal Revenue Service by this notice: 6046 and the regulations thereunder An agency may not conduct or mstockstill on DSK3G9T082PROD with NOTICES pertaining to the involvement of U.S. Proposed Collection; Comment sponsor, and a person is not required to persons with certain foreign Request for Notice 89–61 respond to, a collection of information corporations. AGENCY: Internal Revenue Service (IRS), unless the collection of information Current Actions: There is no change Treasury. displays a valid OMB control number. in the paperwork burden previously Books or records relating to a collection ACTION: Notice and request for approved by OMB. This form is being of information must be retained as long comments. submitted for renewal purposes only. as their contents may become material VerDate Sep<11>2014 18:04 Sep 27, 2016 Jkt 238001 PO 00000 Frm 00129 Fmt 4703 Sfmt 4703 E:\FR\FM\28SEN1.SGM 28SEN1


Document Created: 2016-09-28 01:07:46
Document Modified: 2016-09-28 01:07:46
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice and request for comments.
DatesWritten comments should be received on or before November 28, 2016 to be assured of consideration.
ContactRequests for additional information or copies of the form and instructions should be directed to R. Joseph Durbala, at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or at (202) 317-5746, or through the internet at [email protected]
FR Citation81 FR 66748 
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