81_FR_88236 81 FR 88002 - Submission for OMB Review; Comment Request

81 FR 88002 - Submission for OMB Review; Comment Request

DEPARTMENT OF THE TREASURY

Federal Register Volume 81, Issue 234 (December 6, 2016)

Page Range88002-88003
FR Document2016-29198

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.

Federal Register, Volume 81 Issue 234 (Tuesday, December 6, 2016)
[Federal Register Volume 81, Number 234 (Tuesday, December 6, 2016)]
[Notices]
[Pages 88002-88003]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-29198]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

AGENCY: Department of the Treasury.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: 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 January 5, 2017 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 8142, 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) 622-0934, or 
viewing the entire information collection request at www.reginfo.gov.

SUPPLEMENTARY INFORMATION:

Internal Revenue Service (IRS)

    OMB Control Number: 1545-0732.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Credit for Increasing Research Activity (TD 8251).
    Abstract: This regulation provides rules for the credit for 
increasing research activities. Internal Revenue Code section 41(f) 
provides that commonly controlled groups of taxpayers shall compute the 
credit as if they are single taxpayer. The credit allowed to a member 
of the group is a portion of the group's credit. Section 1.41-8(d) of 
the regulation permits a corporation that is a member of more than one 
group to designate which controlled group they will be aggregated with 
the purposes of Code section 41(f).
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 63.

    OMB Control Number: 1545-0232.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Information Return of Nontaxable Energy Grants or Subsidized 
Energy Financing.
    Form: 6497.
    Abstract: Section 6050D of the Internal Revenue Code requires an 
information return to be made by any person who administers a Federal, 
state, or local program providing nontaxable grants or subsidized 
energy financing. Form 6497 is used for making the information return. 
The IRS uses the information from the form to ensure that recipients 
have not claimed tax credits or other benefits with respect to the 
grants or subsidized financing.

[[Page 88003]]

    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 810.

    OMB Control Number: 1545-1070.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Effectively connected income and the branch profits tax.
    Abstract: The regulations explain how to comply with section 884, 
which imposes a tax on the earnings of a foreign corporation's branch 
that are removed from the branch and which subjects interest paid by 
the branch, and certain interest deducted by the foreign corporation to 
tax.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 12,694.

    OMB Control Number: 1545-0685.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Export Exemption Certificate.
    Form: 1363.
    Abstract: IRC section 4272(b)(2) excepts exported property from the 
excise tax on transportation of property. Regulation section 49.4271-
1(d)(2) authorizes the filing of Form 1363 by the shipper to request 
exemption for a shipment, or a series of shipments. The form is filed 
with the carrier. It is used by IRS as proof of tax exempt status of 
each shipment.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 425,000.

    Dated: December 1, 2016.
Bob Faber,
Acting Treasury PRA Clearance Officer.
[FR Doc. 2016-29198 Filed 12-5-16; 8:45 am]
 BILLING CODE 4830-01-P



                                                  88002                       Federal Register / Vol. 81, No. 234 / Tuesday, December 6, 2016 / Notices

                                                     Type of Request: Extension without                   them as though the results are                        ADDRESSES:   Send comments regarding
                                                  change of a previously approved                         generalizable to the population of study;             the burden estimates, or any other
                                                  collection.                                               • Participation in the collections is               aspect of the information collections,
                                                     Abstract: This collection of                         voluntary;                                            including suggestions for reducing the
                                                  information is necessary to enable the                    • The collections are low-burden for                burden, to (1) Office of Information and
                                                  FRA to garner customer and stakeholder                  respondents (based on considerations of               Regulatory Affairs, Office of
                                                  feedback in an efficient, timely manner,                total burden hours, total number of                   Management and Budget, Attention:
                                                  consistent with our commitment to                       respondents, or burden-hours per                      Desk Officer for Treasury, New
                                                  improving service delivery. The                         respondent) and are low-cost for both                 Executive Office Building, Room 10235,
                                                  information collected from our                          the respondents and the Federal                       Washington, DC 20503, or email at
                                                  customers and stakeholders will help                    Government;                                           OIRA_Submission@OMB.EOP.gov and
                                                  ensure users have an effective, efficient,                • The collections are non-                          (2) Treasury PRA Clearance Officer,
                                                  and satisfying experience with FRA’s                    controversial and do not raise issues of              1750 Pennsylvania Ave. NW., Suite
                                                  programs. This feedback will provide                    concern to other Federal agencies;                    8142, Washington, DC 20220, or email
                                                  insights into customer or stakeholder                     • Any collection is targeted to the                 at PRA@treasury.gov.
                                                  perceptions, experiences and                            solicitation of opinions from
                                                                                                                                                                FOR FURTHER INFORMATION CONTACT:
                                                  expectations, provide an early warning                  respondents who have experience with
                                                                                                                                                                Copies of the submissions may be
                                                  of issues with service, and focus                       the OMB program or may have
                                                                                                                                                                obtained by emailing PRA@treasury.gov,
                                                  attention on areas where                                experience with the OMB program in
                                                                                                                                                                calling (202) 622–0934, or viewing the
                                                  communication, training or changes in                   the near future; and
                                                                                                            • With the exception of information                 entire information collection request at
                                                  operations might improve delivery of                                                                          www.reginfo.gov.
                                                  products or services. These collections                 needed to provide renumeration for
                                                                                                          participants of focus groups and                      SUPPLEMENTARY INFORMATION:
                                                  will allow ongoing, collaborative, and
                                                  actionable communications between                       cognitive laboratory studies, FRA will                Internal Revenue Service (IRS)
                                                  FRA and its customers and                               collect personally identifiable
                                                                                                          information (PII) only to the extent                     OMB Control Number: 1545–0732.
                                                  stakeholders. It also allows feedback to                                                                         Type of Review: Extension without
                                                  contribute directly to the improvement                  necessary and will not retain it.
                                                                                                            Affected Public: Individuals and                    change of a currently approved
                                                  of program management.                                                                                        collection.
                                                                                                          Households, Business and
                                                     Improving FRA’s programs requires                    Organizations, State, Local or Tribal                    Title: Credit for Increasing Research
                                                  ongoing assessment of service delivery,                 Governments.                                          Activity (TD 8251).
                                                  meaning a systematic review of the                        Frequency of Submission: Once per                      Abstract: This regulation provides
                                                  operation of a program compared to a                    request.                                              rules for the credit for increasing
                                                  set of explicit or implicit standards as a                Total Annual Number of                              research activities. Internal Revenue
                                                  means of contributing to the continuous                 Respondents: 2,100.                                   Code section 41(f) provides that
                                                  improvement of the program. FRA will                      Total Estimated Responses: 2,100.                   commonly controlled groups of
                                                  collect, analyze, and interpret                           Average Minutes per Response: 10                    taxpayers shall compute the credit as if
                                                  information gathered through this                       minutes.                                              they are single taxpayer. The credit
                                                  generic clearance to identify strengths                   Total Annual Burden Hours: 354                      allowed to a member of the group is a
                                                  and weaknesses of current services and                  hours.                                                portion of the group’s credit. Section
                                                  make improvements in service delivery                     Authority: 44 U.S.C. 3501–3520.                     1.41–8(d) of the regulation permits a
                                                  based on feedback. The solicitation of                                                                        corporation that is a member of more
                                                  feedback will target areas such as:                       Issued in Washington, DC, on November
                                                                                                          30, 2016.
                                                                                                                                                                than one group to designate which
                                                  Timeliness, appropriateness, accuracy                                                                         controlled group they will be aggregated
                                                                                                          Patrick Warren,
                                                  of information, courtesy, efficiency of                                                                       with the purposes of Code section 41(f).
                                                  service delivery, and resolution of                     Acting Executive Director.                               Affected Public: Businesses or other
                                                  issues with service delivery. FRA will                  [FR Doc. 2016–29237 Filed 12–5–16; 8:45 am]           for-profits.
                                                  assess responses to plan and inform                     BILLING CODE 4910–06–P                                   Estimated Total Annual Burden
                                                  efforts to improve or maintain the                                                                            Hours: 63.
                                                  quality of service offered to the public.                                                                        OMB Control Number: 1545–0232.
                                                  If this information is not collected, vital             DEPARTMENT OF THE TREASURY                               Type of Review: Extension without
                                                  feedback from customers and                                                                                   change of a currently approved
                                                  stakeholders on the FRA’s services will                 Submission for OMB Review;
                                                                                                                                                                collection.
                                                  be unavailable.                                         Comment Request                                          Title: Information Return of
                                                     FRA will only submit a collection for                AGENCY:   Department of the Treasury.                 Nontaxable Energy Grants or Subsidized
                                                  approval under this generic clearance if                ACTION:   Notice.                                     Energy Financing.
                                                  it meets the following conditions:                                                                               Form: 6497.
                                                     • FRA will only use the information                  SUMMARY:   The Department of the                         Abstract: Section 6050D of the
                                                  gathered internally for general service                 Treasury will submit the following                    Internal Revenue Code requires an
                                                  improvement and program management                      information collection requests to the                information return to be made by any
                                                  purposes and does not intend to release                 Office of Management and Budget                       person who administers a Federal, state,
                                                  it outside FRA;                                         (OMB) for review and clearance in                     or local program providing nontaxable
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                                                     • FRA will not use information                       accordance with the Paperwork                         grants or subsidized energy financing.
                                                  gathered to substantially inform                        Reduction Act of 1995, Public Law 104–                Form 6497 is used for making the
                                                  influential policy decisions;                           13, on or after the date of publication of            information return. The IRS uses the
                                                     • Information gathered will yield                    this notice.                                          information from the form to ensure that
                                                  qualitative information; FRA will not                   DATES: Comments should be received on                 recipients have not claimed tax credits
                                                  design the collections or expect them to                or before January 5, 2017 to be assured               or other benefits with respect to the
                                                  yield statistically reliable results or use             of consideration.                                     grants or subsidized financing.


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                                                                              Federal Register / Vol. 81, No. 234 / Tuesday, December 6, 2016 / Notices                                                 88003

                                                    Affected Public: Businesses or other                  constitutes legal notification to all                 short-term debt securities (including
                                                  for-profits.                                            United States persons (defined below)                 selected money market instruments).
                                                    Estimated Total Annual Burden                         who meet the reporting requirements set                  How To Report: Copies of the survey
                                                  Hours: 810.                                             forth in this Notice that they must                   forms and instructions, which contain
                                                    OMB Control Number: 1545–1070.                        respond to, and comply with, this
                                                                                                                                                                complete information on reporting
                                                    Type of Review: Extension without                     survey. The reporting form SHC (2016)
                                                                                                                                                                procedures and definitions, may be
                                                  change of a currently approved                          and instructions may be printed from
                                                                                                          the Internet at: https://www.treasury.gov             obtained at the Web site address given
                                                  collection.                                                                                                   above in the Summary. Completed
                                                    Title: Effectively connected income                   /resource-center/data-chart-center/tic/
                                                                                                          Pages/forms-sh.aspx#shc.                              reports can be submitted electronically
                                                  and the branch profits tax.
                                                                                                             Definition: Pursuant to 22 U.S.C. 3102             or mailed to the Federal Reserve Bank
                                                    Abstract: The regulations explain how
                                                                                                          a United States person is any                         of New York, Statistics Function, 4th
                                                  to comply with section 884, which
                                                  imposes a tax on the earnings of a                      individual, branch, partnership,                      Floor, 33 Liberty Street, New York, NY
                                                  foreign corporation’s branch that are                   associated group, association, estate,                10045–0001. Inquiries can be made to
                                                  removed from the branch and which                       trust, corporation, or other organization             the survey staff of the Federal Reserve
                                                  subjects interest paid by the branch, and               (whether or not organized under the                   Bank of New York at (212) 720–6300 or
                                                  certain interest deducted by the foreign                laws of any State), and any government                email: SHC.help@ny.frb.org. Inquiries
                                                  corporation to tax.                                     (including a foreign government, the                  can also be made to Dwight Wolkow at
                                                    Affected Public: Businesses or other                  United States Government, a State or                  (202) 622–1276, email: comments2TIC@
                                                  for-profits.                                            local government, and any agency,                     do.treas.gov.
                                                    Estimated Total Annual Burden                         corporation, financial institution, or
                                                                                                          other entity or instrumentality thereof,                 When To Report: Data must be
                                                  Hours: 12,694.                                                                                                submitted to the Federal Reserve Bank
                                                                                                          including a government-sponsored
                                                    OMB Control Number: 1545–0685.                        agency), who resides in the United                    of New York, acting as fiscal agent for
                                                    Type of Review: Extension without                     States or is subject to the jurisdiction of           the Department of the Treasury, by
                                                  change of a currently approved                          the United States.                                    March 3, 2017.
                                                  collection.                                                Who Must Report: The following U.S.                   Paperwork Reduction Act Notice: This
                                                    Title: Export Exemption Certificate.                  persons must report on this survey:                   data collection has been approved by
                                                    Form: 1363.                                              • U.S. persons who manage, as                      the Office of Management and Budget
                                                    Abstract: IRC section 4272(b)(2)                      custodians, the safekeeping of foreign
                                                  excepts exported property from the                                                                            (OMB) in accordance with the
                                                                                                          securities for themselves and other U.S.
                                                  excise tax on transportation of property.                                                                     Paperwork Reduction Act and assigned
                                                                                                          persons. These U.S. persons, who
                                                  Regulation section 49.4271–1(d)(2)                                                                            control number 1505–0146. An agency
                                                                                                          include the affiliates in the United
                                                  authorizes the filing of Form 1363 by                   States of foreign entities, must report on            may not conduct or sponsor, and a
                                                  the shipper to request exemption for a                  this survey if the total fair value of the            person is not required to respond to, a
                                                  shipment, or a series of shipments. The                 foreign securities whose safekeeping                  collection of information unless it
                                                  form is filed with the carrier. It is used              they manage on behalf of U.S. persons—                displays a valid control number
                                                  by IRS as proof of tax exempt status of                 aggregated over all accounts and for all              assigned by OMB. The estimated
                                                  each shipment.                                          U.S. branches and affiliates of their                 average annual burden associated with
                                                    Affected Public: Businesses or other                  firm—is $200 million or more as of the                this collection of information is 17
                                                  for-profits.                                            close of business on December 31, 2016.               hours per respondent for exempt
                                                    Estimated Total Annual Burden                            • U.S. persons who own foreign                     respondents, 41 hours per respondent
                                                  Hours: 425,000.                                         securities for their own portfolios and/              for end-investors and custodians that
                                                    Dated: December 1, 2016.                              or who invest in foreign securities on                file Schedule 3 reports covering their
                                                  Bob Faber,                                              behalf of others, such as investment                  securities entrusted to U.S. resident
                                                                                                          managers/fund sponsors. These U.S.                    custodians, 121 hours per respondent
                                                  Acting Treasury PRA Clearance Officer.
                                                                                                          persons (referred to as ‘‘end-investors’’),           for large end-investors filing Schedule 2
                                                  [FR Doc. 2016–29198 Filed 12–5–16; 8:45 am]
                                                                                                          who include the affiliates in the United              reports, and 361 hours per respondent
                                                  BILLING CODE 4830–01–P
                                                                                                          States of foreign entities, must report on            for large custodians of securities filing
                                                                                                          this survey if the total fair value of these          Schedule 2 reports. Comments
                                                                                                          foreign securities—aggregated over all                concerning the accuracy of this burden
                                                  DEPARTMENT OF THE TREASURY
                                                                                                          accounts and for all U.S. branches and                estimate and suggestions for reducing
                                                  Office of the Assistant Secretary for                   affiliates of their firm—is $200 million              this burden should be directed to the
                                                  International Affairs; Survey of U.S.                   or more as of the close of business on
                                                                                                                                                                Department of the Treasury, Attention
                                                  Ownership of Foreign Securities as of                   December 31, 2016.
                                                                                                             • U.S. persons who are notified by                 Administrator, International Portfolio
                                                  December 31, 2016                                                                                             Investment Data Reporting Systems,
                                                                                                          letter from the Federal Reserve Bank of
                                                  AGENCY: Departmental Offices,                           New York. These U.S. persons must file                Room 5422, Washington, DC 20220, and
                                                  Department of the Treasury.                             Schedule 1, even if the recipient of the              to OMB, Attention Desk Officer for the
                                                  ACTION: Notice of reporting                             letter is under the reporting threshold of            Department of the Treasury, Office of
                                                  requirements.                                           $200 million and need only report                     Information and Regulatory Affairs,
                                                                                                          ‘‘exempt’’ on Schedule 1. These U.S.                  Washington, DC 20503
mstockstill on DSK3G9T082PROD with NOTICES




                                                  SUMMARY:   By this Notice and in                        persons who meet the reporting                        Dwight Wolkow,
                                                  accordance with 31 CFR 129, the                         threshold must also file Schedule 2 and/
                                                  Department of the Treasury is informing                 or Schedule 3.                                        Administrator, International Portfolio
                                                  the public that it is conducting a                         What To Report: This report will                   Investment Data Reporting Systems.
                                                  mandatory survey of ownership of                        collect information on holdings by U.S.               [FR Doc. 2016–29180 Filed 12–5–16; 8:45 am]
                                                  foreign securities by U.S. residents as of              residents of foreign securities, including            BILLING CODE 4810–25–P
                                                  December 31, 2016. This Notice                          equities, long-term debt securities, and


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Document Created: 2016-12-06 02:18:32
Document Modified: 2016-12-06 02:18:32
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.
DatesComments should be received on or before January 5, 2017 to be assured of consideration.
ContactCopies of the submissions may be obtained by emailing [email protected], calling (202) 622-0934, or viewing the entire information collection request at www.reginfo.gov.
FR Citation81 FR 88002 

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