Approved,
however, Treasury is reminded that a summary of the comments
recieved in response to this notice of proposed rulemaking must be
provided to OMB when the rule becomes final.
Inventory as of this Action
Requested
Previously Approved
10/31/1987
10/31/1987
10/31/1987
1,827,993
0
1,827,993
23,501,282
0
23,501,281
0
0
0
THIS REGULATION PROVIDES GUIDANCE
UNDER SECTION 404A WHICH PERMITS TAXPAYERS TO ELECT A SPECIAL SET
OF PROVISIONS RELATING TO DEDUCTIONS (AND ADJUSTMENTS TO EARNINGS
AND PROFITS) FOR QUALIFIED FOREIGN PLANS. SECTION 404A(G)(2)
PROVIDES THAT NO DEDUCTION (OR ADJUSTMENT TO EARNINGS AND PROFITS)
IS PERMITTED UNLESS CERTAIN INFORMATION IS FURNISHED BY THE
TAXPAYER.
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.