82 FR 48898 - Proposed Extension of Information Collection Request Submitted for Public Comment; Split-Dollar Life Insurance Arrangements

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 82, Issue 202 (October 20, 2017)

Page Range		48898-48899
FR Document		2017-22780

The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the 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. Currently, the IRS is soliciting comments concerning the requirements relating to Split-Dollar Life Insurance Arrangements.

Federal Register, Volume 82 Issue 202 (Friday, October 20, 2017)

[Federal Register Volume 82, Number 202 (Friday, October 20, 2017)]
[Notices]
[Pages 48898-48899]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-22780]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Extension of Information Collection Request Submitted 
for Public Comment; Split-Dollar Life Insurance Arrangements

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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

SUMMARY: The Internal Revenue Service, as part of its continuing effort 
to reduce paperwork and respondent burden, invites the 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. Currently, the IRS is soliciting comments 
concerning the requirements relating to Split-Dollar Life Insurance 
Arrangements.

DATES: Written comments should be received on or before December 19, 
2017 to be assured of consideration.

ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal 
Revenue Service, Room 6141, 1111 Constitution Avenue NW., Washington, 
DC 20224. Requests for additional information or copies of the 
regulations should be directed to R. Joseph Durbala, at Internal 
Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, 
DC 20224, or through the internet, at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Split-Dollar Life Insurance Arrangements.
    OMB Number: 1545-1792.
    Regulation Project Number: TD 9092.
    Abstract: This document contains final regulations related to the 
income, employment, and gift taxation of split-dollar life insurance 
arrangements. The final regulations provide needed guidance to persons 
who enter split-dollar life insurance arrangements.
    Current Actions: There is no change to the burden previously 
approved.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Not-for-profit institutions.
    Estimated Number of Respondents: 115,000.
    Estimated Time per Respondent: 17 minutes.
    Estimated Total Annual Burden Hours: 32,500.
    The following paragraph applies to all 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 if 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.
    Desired Focus of Comments: The Internal Revenue Service (IRS) is

[[Page 48899]]

particularly interested in comments that:
     Evaluate whether the proposed collection of information is 
necessary for the proper performance of the functions of the agency, 
including whether the information will have practical utility;
     Evaluate the accuracy of the agency's estimate of the 
burden of the proposed collection of information, including the 
validity of the methodology and assumptions used;
     Enhance the quality, utility, and clarity of the 
information to be collected; and
     Minimize the burden of the collection of information on 
those who are to respond, including using appropriate automated, 
electronic, mechanical, or other technological collection techniques or 
other forms of information technology, e.g., by permitting electronic 
submissions of responses.
    Comments submitted in response to this notice will be summarized 
and/or included in the ICR for OMB approval of the extension of the 
information collection; they will also become a matter of public 
record.

    Approved: October 13, 2017.
R. Joseph Durbala,
IRS Tax Analyst.
[FR Doc. 2017-22780 Filed 10-19-17; 8:45 am]
 BILLING CODE 4830-01-P

48898 Federal Register / Vol. 82, No. 202 / Friday, October 20, 2017 / Notices

• Interagency Notice of Change in Transfer of a Collection SUMMARY: The Internal Revenue Service,
Control—Minor updates and further Investment in Bank Premises—OCC as part of its continuing effort to reduce
clarification of instructions and regulations require a bank to obtain paperwork and respondent burden,
requirements. Includes additional prior approval whenever an investment invites the public and other Federal
questions related to the application in bank premises will cause the total agencies to take this opportunity to
review process, such as information on investment in bank premises to exceed comment on proposed and/or
non-voting shares, and whether the the amount of the bank’s capital stock, continuing information collections, as
applicant is joining an existing group unless the bank is eligible for the required by the Paperwork Reduction
acting in concert. premises notice process set forth in 12 Act of 1995. Currently, the IRS is
• Interagency Bank Merger Act— CFR 5.37(d)(3). 12 CFR 5.37(d)(1) and soliciting comments concerning the
Updated to reflect new requirements 7.1000(c). This item has been merged requirements relating to Split-Dollar
under the Dodd-Frank Act,2 or into the collection covering part 7 (OMB Life Insurance Arrangements.
otherwise necessary to evaluate Control No. 1557–0204). DATES: Written comments should be
statutory factors, as well as additional Type of Review: Regular. received on or before December 19, 2017
questions related to the application Affected Public: Individuals or to be assured of consideration.
review process. Requests financial households; Businesses or other for- ADDRESSES: Direct all written comments
projections for three years versus the profit. to Tuawana Pinkston, Internal Revenue
current one year. Estimated Number of Respondents: Service, Room 6141, 1111 Constitution
The following forms were updated to 3,715. Avenue NW., Washington, DC 20224.
delete requirements: Estimated Total Annual Responses: Requests for additional information or
3,715. copies of the regulations should be
• Citizenship and Residency directed to R. Joseph Durbala, at Internal
Waivers—Removed applicability to Frequency of Response: On occasion.
Estimated Total Annual Burden: Revenue Service, Room 6129, 1111
FSAs and clarified that only the Constitution Avenue NW., Washington,
biographical portion of the form is 12,533 hours.
The OCC issued a notice for 60 days DC 20224, or through the internet, at
required. RJoseph.Durbala@irs.gov.
of comment regarding this collection on
• Commencement of Fiduciary August 4, 2017, 82 FR 36185. No SUPPLEMENTARY INFORMATION:
Activities Notice, Fiduciary Powers comments were received. Comments Title: Split-Dollar Life Insurance
After-the-Fact-Notice, Fiduciary Powers continue to be invited on: (a) Whether Arrangements.
Application, and Surrender of Fiduciary the collection of information is OMB Number: 1545–1792.
Powers Notice—Removed requirement necessary for the proper performance of Regulation Project Number: TD 9092.
for a bank seal. the functions of the OCC, including Abstract: This document contains
whether the information has practical final regulations related to the income,
Additional Requested Items
utility; (b) The accuracy of the OCC’s employment, and gift taxation of split-
The following are additions to the estimate of the burden of the collection dollar life insurance arrangements. The
collection that capture existing of information; (c) Ways to enhance the final regulations provide needed
requirements: quality, utility, and clarity of the guidance to persons who enter split-
dollar life insurance arrangements.
• Conversion to National Bank information to be collected; (d) Ways to
Current Actions: There is no change to
Completion Certification and minimize the burden of the collection
on respondents, including through the the burden previously approved.
Conversion to FSA Completion Type of Review: Extension of a
Certification—Certification is submitted use of automated collection techniques
or other forms of information currently approved collection.
to indicate that all steps required to Affected Public: Not-for-profit
convert to a bank were taken, including technology; and (e) Estimates of capital
or startup costs and costs of operation, institutions.
execution of all documents required for Estimated Number of Respondents:
organization, requisite shareholder or maintenance, and purchase of services
to provide information. 115,000.
member approval, board of directors Estimated Time per Respondent: 17
authorization, and adoption of bylaws. Dated: October 16, 2017. minutes.
Upon receipt of the certification, the Karen Solomon, Estimated Total Annual Burden
OCC issues the institution a new Deputy Chief Counsel, Office of the Hours: 32,500.
charter. Comptroller of the Currency. The following paragraph applies to all
• Reduction of Permanent Capital [FR Doc. 2017–22722 Filed 10–19–17; 8:45 am] the collections of information covered
and Capital Distribution—Under 12 CFR BILLING CODE 4810–33–P by this notice:
5.55, FSAs are required to obtain OCC An agency may not conduct or
approval before issuing a capital sponsor, and a person is not required to
distribution under certain DEPARTMENT OF THE TREASURY respond to, a collection of information
circumstances. The request is reviewed unless the collection of information
to determine whether the FSA’s request Internal Revenue Service displays a valid OMB control number.
is in accordance with existing statutory Books or records relating to a
Proposed Extension of Information collection of information must be
and regulatory criteria. The reporting
Collection Request Submitted for
srobinson on DSKBC5CHB2PROD with NOTICES

requirements were previously included retained if their contents may become
Public Comment; Split-Dollar Life material in the administration of any
in OTS Form 1583. The new form was
Insurance Arrangements internal revenue law. Generally, tax
approved under OMB Control No. 1557–
0338 and later merged into this AGENCY: Internal Revenue Service (IRS), returns and tax return information are
collection. Treasury. confidential, as required by 26 U.S.C.
6103.
ACTION: Notice and request for
2 Dodd-Frank Wall Street Reform and Consumer Desired Focus of Comments: The
comments.
Protection Act, Public Law 111–203, July 21, 2010. Internal Revenue Service (IRS) is

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Federal Register / Vol. 82, No. 202 / Friday, October 20, 2017 / Notices 48899

particularly interested in comments ADDRESSES: Direct all written comments • Enhance the quality, utility, and
that: to Tuawana Pinkston, Internal Revenue clarity of the information to be
• Evaluate whether the proposed Service, Room 6141, 1111 Constitution collected; and
collection of information is necessary Avenue NW., Washington, DC 20224. • Minimize the burden of the
for the proper performance of the Requests for additional information or collection of information on those who
functions of the agency, including copies of the regulations should be are to respond, including using
whether the information will have directed to R. Joseph Durbala, at Internal appropriate automated, electronic,
practical utility; Revenue Service, Room 6129, 1111 mechanical, or other technological
• Evaluate the accuracy of the Constitution Avenue NW., Washington, collection techniques or other forms of
agency’s estimate of the burden of the DC 20224, or through the internet, at information technology, e.g., by
proposed collection of information, RJoseph.Durbala@irs.gov. permitting electronic submissions of
including the validity of the SUPPLEMENTARY INFORMATION:
responses.
methodology and assumptions used; Comments submitted in response to
• Enhance the quality, utility, and Title: Employee Representative’s this notice will be summarized and/or
clarity of the information to be Quarterly Railroad Tax Return. included in the ICR for OMB approval
collected; and OMB Number: 1545–0002. of the extension of the information
• Minimize the burden of the Regulation Project Number: CT–2. collection; they will also become a
collection of information on those who Abstract: Employee representatives matter of public record.
are to respond, including using file Form CT–2 quarterly to report
Approved: October 13, 2017.
appropriate automated, electronic, compensation on which railroad
R. Joseph Durbala,
mechanical, or other technological retirement taxes are due. The IRS uses
this information to ensure that IRS Tax Analyst.
collection techniques or other forms of
employee representatives have paid the [FR Doc. 2017–22781 Filed 10–19–17; 8:45 am]
information technology, e.g., by
permitting electronic submissions of correct tax. Form CT–2 also transmits BILLING CODE 4830–01–P

responses. the tax payment.
Comments submitted in response to Current Actions: There is no change to
the burden previously approved. DEPARTMENT OF THE TREASURY
this notice will be summarized and/or
included in the ICR for OMB approval Type of Review: Extension of a Internal Revenue Service
of the extension of the information currently approved collection.
collection; they will also become a Affected Public: Individuals and Proposed Extension of Information
matter of public record. households. Collection Request Submitted for
Approved: October 13, 2017. Estimated Number of Respondents: Public Comment; Material Advisors of
R. Joseph Durbala, 112. Reportable Transactions, Lists of
Estimated Time per Respondent: 1 Advisees
IRS Tax Analyst.
[FR Doc. 2017–22780 Filed 10–19–17; 8:45 am]
Hour 11 minutes. AGENCY: Internal Revenue Service (IRS),
Estimated Total Annual Burden Treasury.
BILLING CODE 4830–01–P
Hours: 132. ACTION: Notice and request for
The following paragraph applies to all comments.
DEPARTMENT OF THE TREASURY the collections of information covered
by this notice:
Internal Revenue Service An agency may not conduct or SUMMARY: The Internal Revenue Service,
sponsor, and a person is not required to as part of its continuing effort to reduce
Proposed Extension of Information respond to, a collection of information paperwork and respondent burden,
Collection Request Submitted for unless the collection of information invites the public and other Federal
Public Comment; Form CT–2, displays a valid OMB control number. agencies to take this opportunity to
Employee Representative’s Quarterly Books or records relating to a comment on proposed and/or
Railroad Tax Return collection of information must be continuing information collections, as
AGENCY: Internal Revenue Service (IRS), retained if their contents may become required by the Paperwork Reduction
Treasury. material in the administration of any Act of 1995. Currently, the IRS is
internal revenue law. Generally, tax soliciting comments concerning the
ACTION: Notice and request for
returns and tax return information are requirements relating to lists of advisees
comments. kept by material advisors of reportable
confidential, as required by 26 U.S.C.
SUMMARY: The Internal Revenue Service, 6103. transactions.
as part of its continuing effort to reduce Desired Focus of Comments: The DATES: Written comments should be
paperwork and respondent burden, Internal Revenue Service (IRS) is received on or before December 19, 2017
invites the public and other Federal particularly interested in comments to be assured of consideration.
agencies to take this opportunity to that: ADDRESSES: Direct all written comments
comment on proposed and/or • Evaluate whether the proposed to Tuawana Pinkston, Internal Revenue
continuing information collections, as collection of information is necessary Service, Room 6141, 1111 Constitution
required by the Paperwork Reduction for the proper performance of the Avenue NW., Washington, DC 20224.
Act of 1995. Currently, the IRS is functions of the agency, including Requests for additional information or
srobinson on DSKBC5CHB2PROD with NOTICES

soliciting comments concerning the whether the information will have copies of the regulations should be
requirements relating to completing practical utility; directed to R. Joseph Durbala, at Internal
Form CT–2, Employee Representative’s • Evaluate the accuracy of the Revenue Service, Room 6129, 1111
Quarterly Railroad Tax Return. agency’s estimate of the burden of the Constitution Avenue NW., Washington
DATES: Written comments should be proposed collection of information, DC 20224, or through the internet, at
received on or before December 19, 2017 including the validity of the RJoseph.Durbala@irs.gov.
to be assured of consideration. methodology and assumptions used; SUPPLEMENTARY INFORMATION:

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Document Created: 2017-10-20 00:06:03
Document Modified: 2017-10-20 00:06:03

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 December 19, 2017 to be assured of consideration.
FR Citation		82 FR 48898

82 FR 48898 - Proposed Extension of Information Collection Request Submitted for Public Comment; Split-Dollar Life Insurance Arrangements

DEPARTMENT OF THE TREASURYInternal Revenue Service

Federal Register Volume 82, Issue 202 (October 20, 2017)

DEPARTMENT OF THE TREASURY
Internal Revenue Service