REG-142299-01 and REG-209135-88 (NPRM and temporary regulations) Certain Transfers of Property to Regulated Investment Companies (RICs) and Real Estate Investment Trusts (REITs)

ICR 200112-1545-016

OMB: 1545-1672

Federal Form Document

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Name
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ICR Details
1545-1672 200112-1545-016
Historical Active 200004-1545-005
TREAS/IRS
REG-142299-01 and REG-209135-88 (NPRM and temporary regulations) Certain Transfers of Property to Regulated Investment Companies (RICs) and Real Estate Investment Trusts (REITs)
Revision of a currently approved collection   No
Emergency 12/18/2001
Approved without change 12/17/2001
Retrieve Notice of Action (NOA) 12/17/2001
The agency is not required to display the expiration date.
  Inventory as of this Action Requested Previously Approved
06/30/2002 06/30/2002 06/30/2003
140 0 100
70 0 50
0 0 0

The regulation applies with respect to the net built-in gain of C corporation property that becomes property of a Regulated Investment Company (RIC) or Real Estate Investment Trust (REIT) by the qualification of a C corporation as a RIC or REIT or by the transfer of property of a C corporation to a RIC or REIT in certain tax-free transactions. Depending on the date of the transfer of property or qualifications as a RIC or REIT, the regulation provides that either (1) the C corporation will recognize gain as if it had sold the property at fair market value, unless the RIC or REIT elects section 1374 treatment or

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 140 100 0 40 0 0
Annual Time Burden (Hours) 70 50 0 20 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.
12/17/2001


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