83_FR_49643 83 FR 49453 - Proposed Collection; Comment Request for Regulation Project

83 FR 49453 - Proposed Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 83, Issue 190 (October 1, 2018)

Page Range49453-49453
FR Document2018-21290

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 interest rates and appropriate foreign loss payment patterns for determining the qualified insurance income of certain controlled corporations.

Federal Register, Volume 83 Issue 190 (Monday, October 1, 2018) 
[Federal Register Volume 83, Number 190 (Monday, October 1, 2018)]
[Notices]
[Page 49453]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-21290]


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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 
interest rates and appropriate foreign loss payment patterns for 
determining the qualified insurance income of certain controlled 
corporations.

DATES: Written comments should be received on or before November 30, 
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: Interest Rates and Appropriate Foreign Loss Payment Patterns 
for Determining the Qualified Insurance Income of Certain Controlled 
Corporations under Section 954(i).
    OMB Number: 1545-1799.
    Notice Number: Notice 2002-69.
    Abstract: Notice 2002-69 allows U.S. shareholders of a foreign 
insurance company to use the foreign insurance company's historical 
loss payment patterns in computing the company's insurance reserves 
provided the company has a certain number of years of data and makes an 
election to use that data. A domestic insurance company can elect to 
use its own historical data in computing its reserves provided certain 
requirements are satisfied and an election is made. This notice allows 
a foreign insurance company to elect to calculate its insurance 
reserves in a manner similar to a domestic insurance company. Also, 
this notice provides guidance on how to determine a foreign insurance 
company's foreign loss payment patterns.
    Current Actions: There are no changes being made to the burden 
associated with the collection at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses and other for-profit organizations.
    Estimated Number of Respondents: 300.
    Estimated Time per Respondent: 1 hour.
    Estimated Total Annual Burden Hours: 300.
    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 24, 2018.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2018-21290 Filed 9-28-18; 8:45 am]
 BILLING CODE 4830-01-P

Federal Register / Vol. 83, No. 190 / Monday, October 1, 2018 / Notices 49453 Interested parties are invited to DEPARTMENT OF THE TREASURY Current Actions: There are no changes participate in these proceedings by being made to the burden associated submitting written views, data, or Internal Revenue Service with the collection at this time. comments. FRA does not anticipate Type of Review: Extension of a Proposed Collection; Comment currently approved collection. scheduling a public hearing in Request for Regulation Project Affected Public: Businesses and other connection with these proceedings since the facts do not appear to warrant a AGENCY: Internal Revenue Service (IRS), for-profit organizations. Treasury. Estimated Number of Respondents: hearing. If any interested parties desire 300. an opportunity for oral comment and a ACTION: Notice and request for Estimated Time per Respondent: 1 public hearing, they should notify FRA, comments. hour. in writing, before the end of the Estimated Total Annual Burden SUMMARY: The Internal Revenue Service, comment period and specify the basis as part of its continuing effort to reduce Hours: 300. for their request. paperwork and respondent burden, The following paragraph applies to all All communications concerning these invites the general public and other of the collections of information covered proceedings should identify the Federal agencies to take this by this notice. appropriate docket number and may be opportunity to comment on continuing An agency may not conduct or submitted by any of the following information collections, as required by sponsor, and a person is not required to methods: the Paperwork Reduction Act of 1995. respond to, a collection of information The IRS is soliciting comments unless the collection of information • Website: http:// displays a valid OMB control number. concerning interest rates and www.regulations.gov. Follow the online Books or records relating to a collection appropriate foreign loss payment instructions for submitting comments. of information must be retained as long patterns for determining the qualified • Fax: 202–493–2251. insurance income of certain controlled as their contents may become material • Mail: Docket Operations Facility, corporations. in the administration of any internal revenue law. Generally, tax returns and U.S. Department of Transportation, 1200 DATES: Written comments should be tax return information are confidential, New Jersey Avenue SE, W12–140, received on or before November 30, as required by 26 U.S.C. 6103. Washington, DC 20590. 2018 to be assured of consideration. Request for Comments: Comments • Hand Delivery: 1200 New Jersey ADDRESSES: Direct all written comments submitted in response to this notice will Avenue SE, Room W12–140, to Laurie Brimmer, Internal Revenue be summarized and/or included in the Washington, DC 20590, between 9 a.m. Service, Room 6529, 1111 Constitution request for OMB approval. All and 5 p.m., Monday through Friday, Avenue NW, Washington, DC 20224. comments will become a matter of except Federal Holidays. FOR FURTHER INFORMATION CONTACT: public record. Comments are invited on: Requests for additional information or (a) Whether the collection of Communications received by copies of the form should be directed to information is necessary for the proper November 15, 2018 will be considered Kerry Dennis, at (202) 317–5751 or performance of the functions of the by FRA before final action is taken. Internal Revenue Service, Room 6529, agency, including whether the Comments received after that date will 1111 Constitution Avenue NW, information shall have practical utility; be considered as far as practicable. Washington DC 20224, or through the (b) the accuracy of the agency’s estimate Anyone can search the electronic internet, at Kerry.Dennis@irs.gov. of the burden of the collection of form of any written communications SUPPLEMENTARY INFORMATION: information; (c) ways to enhance the and comments received into any of our Title: Interest Rates and Appropriate quality, utility, and clarity of the dockets by the name of the individual Foreign Loss Payment Patterns for information to be collected; (d) ways to submitting the comment (or signing the Determining the Qualified Insurance minimize the burden of the collection of document, if submitted on behalf of an Income of Certain Controlled information on respondents, including association, business, labor union, etc.). Corporations under Section 954(i). through the use of automated collection Under 5 U.S.C. 553(c), DOT solicits OMB Number: 1545–1799. techniques or other forms of information Notice Number: Notice 2002–69. technology; and (e) estimates of capital comments from the public to better Abstract: Notice 2002–69 allows U.S. or start-up costs and costs of operation, inform its processes. DOT posts these shareholders of a foreign insurance comments, without edit, including any maintenance, and purchase of services company to use the foreign insurance to provide information. personal information the commenter company’s historical loss payment provides, to www.regulations.gov, as patterns in computing the company’s Approved: September 24, 2018. described in the system of records insurance reserves provided the Laurie Brimmer, notice (DOT/ALL–14 FDMS), which can company has a certain number of years Senior Tax Analyst. be reviewed at https:// of data and makes an election to use that [FR Doc. 2018–21290 Filed 9–28–18; 8:45 am] www.transportation.gov/privacy. See data. A domestic insurance company BILLING CODE 4830–01–P also https://www.regulations.gov/ can elect to use its own historical data privacyNotice for the privacy notice of in computing its reserves provided regulations.gov. certain requirements are satisfied and an DEPARTMENT OF THE TREASURY Issued in Washington, DC. election is made. This notice allows a amozie on DSK3GDR082PROD with NOTICES foreign insurance company to elect to Internal Revenue Service John K. Alexy, calculate its insurance reserves in a Deputy Associate Administrator for Railroad Proposed Collection; Comment manner similar to a domestic insurance Safety. Request on Information Collection for company. Also, this notice provides [FR Doc. 2018–21263 Filed 9–28–18; 8:45 am] Treasury Decision 8396 guidance on how to determine a foreign BILLING CODE 4910–06–P insurance company’s foreign loss AGENCY: Internal Revenue Service (IRS), payment patterns. Treasury. 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Document Created: 2018-09-29 04:26:54
Document Modified: 2018-09-29 04:26:54
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 30, 2018 to be assured of consideration.
ContactRequests 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]
FR Citation83 FR 49453 
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