83 FR 62403 - Proposed Collection; Comment Request for Notice 97-34

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 83, Issue 232 (December 3, 2018)

The Internal Revenue Service (IRS), 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 information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning Information Reporting on Transactions With Foreign Trusts and on Large Foreign Gifts.

[Federal Register Volume 83, Number 232 (Monday, December 3, 2018)]
[Notices]
[Page 62403]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-26161]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Notice 97-34

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Internal Revenue Service (IRS), 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 information collections, as required by the Paperwork Reduction Act 
of 1995. The IRS is soliciting comments concerning Information 
Reporting on Transactions With Foreign Trusts and on Large Foreign 
Gifts.

DATES: Written comments should be received on or before February 1, 
2019 to be assured of consideration.

ADDRESSES: Direct all written comments to Laurie Brimmer, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 
20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of this notice should be directed to Martha R. Brinson, at 
(202)317-5753, or at Internal Revenue Service, Room 6526, 1111 
Constitution Avenue NW, Washington, DC 20224, or through the internet 
at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Information Reporting on Transactions With Foreign Trusts 
and on Large Foreign Gifts.
    OMB Number: 1545-1538.
    Notice Number: Notice 97-34.
    Abstract: Notice 97-34 provides guidance on the foreign trust and 
foreign gift information reporting provisions contained in the Small 
Business Job Protection Act of 1996.
    Current Actions: There is no change to the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households, business or other for-
profit organizations, and not-for-profit institutions.
    Estimated Number of Responses: 5,000.
    Estimated Time per Response: 45 mins.
    Estimated Total Annual Burden Hours: 3,750.
    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. 
Comments will be 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 has 
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 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: November 26, 2018.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2018-26161 Filed 11-30-18; 8:45 am]
 BILLING CODE 4830-01-P