BAD DEBT RESERVES OF THRIFT INSTITUTIONS FI-42-90 NPRM

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Forms and supporting documents for this ICR

Document	Type	Status	Availability

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Information collection document groups

IC ID	Collection	Type	Status	Form
131761	BAD DEBT RESERVES OF THRIFT INSTITUTIONS FI-42-90 NPRM		Migrated

ICR Details

OMB Control No:	ICR Reference No: 199009-1545-005
Status: Historical Inactive	Previous ICR Reference No:
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: BAD DEBT RESERVES OF THRIFT INSTITUTIONS FI-42-90 NPRM
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Withdrawn	Conclusion Date: 11/14/1990
	Date Received in OIRA: 09/12/1990
Terms of Clearance: Withdrawn by OMB. We will reenter this request for review as of the date of publication in the Federal Register when the Department notifies us of publication. On or about the 53 day after publication in the Federal Register, the Department should forward to OMB comments received to date on the information collections contained in the proposed rules.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date
Responses	0	0	0
Time Burden (Hours)	0	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: SECTION 593(A) OF THE INTERNAL REVENUE CODE REQUIRES TAXPAYERS USING T SECTION 593 RESERVE METHOD OF ACCOUNTING FOR BAD DEBTS TO BE A QUALIFYING INSTITUTION AND MEET A 60 PERCENT ASSET TEST. TAXPAYERS THA FAIL TO MEET EITHER REQUIREMENT OR SUBSEQUENTLY MEET BOTH REQUIREMENTS MUST FILE FORM 3115 AND CHANGE TO AN APPROPRIATE METHOD OF ACCOUNTING IN ACCORDANCE WITH SECTIONS 1.593-13 AND 1.593-14 OF THE REGULATION.

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Authorizing Statute(s): None

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

table that charts list of burden

IC Title	Form No.	Form Name
BAD DEBT RESERVES OF THRIFT INSTITUTIONS FI-42-90 NPRM

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Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 09/12/1990

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