Treatment of Section 355 Distributions by U.S. Corporations to Foreign Persons -- INTL-0020-96 (Temporary/Proposed Rule) amending INTL-707-87 (Final Rule)

ICR 199605-1545-009

OMB: 1545-1487

Federal Form Document

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ICR Details
1545-1487 199605-1545-009
Historical Active
TREAS/IRS
Treatment of Section 355 Distributions by U.S. Corporations to Foreign Persons -- INTL-0020-96 (Temporary/Proposed Rule) amending INTL-707-87 (Final Rule)
New collection (Request for a new OMB Control Number)   No
Emergency 06/06/1996
Approved without change 08/05/1996
Retrieve Notice of Action (NOA) 05/31/1996
  Inventory as of this Action Requested Previously Approved
09/30/1996 09/30/1996
462 0 0
2,124 0 0
0 0 0

The regulations require additional reporting of domestic corporate taxpayers to secure nonrecognition treatment under section 367(e)(1) on distributions of stock or securities under section 355 to foreign persons.

None
None


No

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 462 0 0 462 0 0
Annual Time Burden (Hours) 2,124 0 0 2,124 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
No

$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected

  No

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.
05/31/1996


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