Treatment of Shareholders of Certain Passive Foreign Investment Companies -- INTL-656-87 (Final Regulations)

ICR 199612-1545-001

OMB: 1545-1507

Federal Form Document

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Document
Name
Status
No forms / supporting documents in this ICR. Check IC Document Collections.
ICR Details
1545-1507 199612-1545-001
Historical Active
TREAS/IRS
Treatment of Shareholders of Certain Passive Foreign Investment Companies -- INTL-656-87 (Final Regulations)
New collection (Request for a new OMB Control Number)   No
Emergency 12/09/1996
Approved without change 12/09/1996
Retrieve Notice of Action (NOA) 12/06/1996
The agency is not required to display the expiration date.
  Inventory as of this Action Requested Previously Approved
06/30/1997 06/30/1997
131,250 0 0
100,000 0 0
0 0 0

The reporting requirements affect U.S. persons that are direct and indirect shareholders of passive foreign investment companies (PFICs). IRS uses form 8621 to identify PFICs, U.S. shareholders, and transactions subject to PFIC taxation and verify income inclusions, excess distributions, and deferred tax amounts.

None
None


No

1
IC Title Form No. Form Name
Treatment of Shareholders of Certain Passive Foreign Investment Companies -- INTL-656-87 (Final Regulations)

  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 131,250 0 0 131,250 0 0
Annual Time Burden (Hours) 100,000 0 0 100,000 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.
12/06/1996


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