U.S. CITIZENS EMPLOYED BY FOREIGN
SUBSIDIARIES OF DOMESTIC CORPORATIONS ARE EXEMPT FROM FICA TAXES.
UNDER IRC SECTION 3121, THESE DOMESTIC CORPORATIONS MAY ELECT FICA
COVERAGE FOR U.S. CITIZENS EMPLOYED BY THEIR FOREIGN SUBSIDIARIES.
THEY DO THIS BY FILING AN AGREEMENT ON FORM 2032 THAT LISTS THE
NAME OF EACH FOREIGN SUBSIDIARY TO BE COVERED. THE CORPORATIONS CAN
LATER FILE FOR 2032 SUPPLEMENT TO COVER ADDITIONAL FOREIGN
SUBSIDIDARIES.
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.