83 FR 42355 - Proposed Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 83, Issue 162 (August 21, 2018)

The Internal Revenue Service, 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 continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning notice concerning fiduciary relationship and notice concerning fiduciary relationship of financial institution.

[Federal Register Volume 83, Number 162 (Tuesday, August 21, 2018)]
[Notices]
[Pages 42355-42356]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-17946]


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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 Internal Revenue Service, 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 
continuing information collections, as required by the Paperwork 
Reduction Act of 1995. The IRS is soliciting comments concerning notice 
concerning fiduciary relationship and notice concerning fiduciary 
relationship of financial institution.

DATES: Written comments should be received on or before October 22, 
2018 to be assured of consideration.

ADDRESSES: Direct all written comments to Laurie Brimmer, Internal 
Revenue Service, Room 6529, 1111 Constitution Avenue NW, Washington, DC 
20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form should be directed to Kerry Dennis, at (202) 317-
5751 or Internal Revenue Service, Room 6529, 1111 Constitution Avenue 
NW, Washington, DC 20224, or through the internet, at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Notice Concerning Fiduciary Relationship and Notice 
Concerning Fiduciary Relationship of Financial Institution.
    OMB Number: 1545-0013.
    Form Number: 56 and 56-F.

[[Page 42356]]

    Abstract: Form 56 is used to inform the IRS that a person is acting 
for another person in a fiduciary capacity so that the IRS may mail tax 
notices to the fiduciary concerning the person for whom he/she is 
acting. The data is used to ensure that the fiduciary relationship is 
established or terminated and to mail or discontinue mailing designated 
tax notices to the fiduciary. The filing of Form 56-F by a fiduciary 
(FDIC or other federal agency acting as a receiver or conservator of a 
failed financial institution (bank or thrift) gives the IRS the 
necessary information to submit send letters, notices, and notices of 
tax liability to the federal fiduciary now in charge of the financial 
institution rather than sending the notice, etc. to the institution's 
last known address.
    Current Actions: There are no changes being made to the burden 
associated with the collection tools at this time.
    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: 174,050.
    Estimated Time per Respondent: 2 hrs.
    Estimated Total Annual Burden Hours: 349,786.
    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: August 13, 2018.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2018-17946 Filed 8-20-18; 8:45 am]
 BILLING CODE 4830-01-P