U.S. Income Tax Return of a Foreign Corporation

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form Schedule V List of Vessels or Aircraft, Operations, and Owners	Form	New	Available
Form Schedule S (Form 1 Exclusion of Income From the International Operation of Ships or Aircraft Under Section 883	Form	New	Available
Form Schedule M-3 (Form Net Income (Loss) Reconciliation for Foreign Corporations With Reportable Assets of $10 Million or More	Form	Modified	Available
Form Schedules M1 & M2 Reconciliation of Income (Loss) and Analysis of Unappropriated Retained Earnings per Books	Form	Modified	Available
Form Schedule P (Form 1 List of Foreign Partner Interest in Partnerships	Form	Modified	Available
Form 1120-F (Sch I) Interest Expense Allocation Under Regulations Section 1.882-5	Form	Modified	Available
Form 1120-F (Sch H) Deductions Allocated To Effectively Connected Income Under Regulations Section 1.861-8	Form	Modified	Available
Form 1120-F US Income Tax Return of a Foreign Corporation	Form	Modified	Available
Expiration Explanation.rtf	Supplementary Document	Uploaded 2008-11-25	Available
1120-F.Sup.doc	Supporting Statement A	Uploaded 2009-01-23	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
187864	Schedule V - List of Vessels or Aircraft, Operations, and Owners	Instruction	New
187864	Schedule V - List of Vessels or Aircraft, Operations, and Owners	Form	New	List of Vessels or Aircraft, Operations, and Owners
187863	Schedule S - Exclusion of Income From the International Operation of Ships or Aircraft Under Section 883	Instruction	New
187863	Schedule S - Exclusion of Income From the International Operation of Ships or Aircraft Under Section 883	Form	New	Exclusion of Income From the International Operation of Ships or Aircraft Under Section 883
183903	Net Income (Loss) Reconsiliation for Foreign Corporations With Reportable Assets of $10 Million or More	Instruction	Modified
183903	Net Income (Loss) Reconsiliation for Foreign Corporations With Reportable Assets of $10 Million or More	Form	Modified	Net Income (Loss) Reconciliation for Foreign Corporations With Reportable Assets of $10 Million or More
183901	Reconsiliation of Income (Loss) and Analysis of Unappropriated Retained Earnings per Books	Form	Modified	Reconciliation of Income (Loss) and Analysis of Unappropriated Retained Earnings per Books
183900	List of Foreign Partner Interests in Partnerships	Instruction	Modified
183900	List of Foreign Partner Interests in Partnerships	Form	Modified	List of Foreign Partner Interest in Partnerships
183899	Interest Expense Allocation Under Regulations Section 1.882-5	Instruction	Modified
183899	Interest Expense Allocation Under Regulations Section 1.882-5	Form	Modified	Interest Expense Allocation Under Regulations Section 1.882-5
183898	Expenses Allocated to Effectively Connected Income under Regulations	Instruction	Modified
183898	Expenses Allocated to Effectively Connected Income under Regulations	Form	Modified	Deductions Allocated To Effectively Connected Income Under Regulations Section 1.861-8
16957	U.S. Income Tax Return of a Foreign Corporation	Instruction	Modified
16957	U.S. Income Tax Return of a Foreign Corporation	Form	Modified	US Income Tax Return of a Foreign Corporation

ICR Details

OMB Control No: 1545-0126	ICR Reference No: 200811-1545-012
Status: Historical Active	Previous ICR Reference No: 200802-1545-011
Agency/Subagency: TREAS/IRS	Agency Tracking No: ah-0126-012
Title: U.S. Income Tax Return of a Foreign Corporation
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 01/23/2009
Retrieve Notice of Action (NOA)	Date Received in OIRA: 11/26/2008
Terms of Clearance: Two new schedules were created as information collections (ICs)in response to a Treasury program change. This substantive revision is approved by the OMB. In the case of future substantive changes, OMB reminds Treasury of the importance of correctly identifying the information collection request as a "revision."

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2012	36 Months From Approved	01/31/2009
Responses	127,250	0	123,000
Time Burden (Hours)	7,696,046	0	7,622,314
Cost Burden (Dollars)	0	0	0

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Abstract: Form 1120-F is used by foreign corporations that have investments, or a business, or a branch in the U.S. The IRS uses Form 1120-F to determine if the foreign corporation has correctly reported its income, deductions, and tax, and to determine if it has paid the correct amount of tax.

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Authorizing Statute(s): US Code: 26 USC 881 Name of Law: Tax on income of foreign corporations not connected with United States business
   US Code: 26 USC 882 Name of Law: Tax on income of foreign corporations connected with United States business
   US Code: 26 USC 884 Name of Law: Branch profits tax
  

Citations for New Statutory Requirements: PL: Pub.L. 109 - 280 1202, 1204, 1206 Name of Law: Pension Protection Act of 2006
PL: Pub.L. 109 - 135 101 Name of Law: Gulf Opportunity Zone Act of 2005
PL: Pub.L. 109 - 432 105, 111, 405 Name of Law: Tax Relief and Health Care Act of 2006
PL: Pub.L. 109 - 58 1332, 1342, 1344, 1348, 1331 Name of Law: Energy Tax IncentivesAct of 2005
PL: Pub.L. 110 - 28 8214 Name of Law: U.S. Troop Readiness, Veterans'Care, Katrina Recovery, and Iraq Accountability Appropriations Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	73 FR 52899	09/11/2008
30-day Notice:	Federal Register Citation:	Citation Date:
	73 FR 72114	11/26/2008
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 8

table that charts list of burden

IC Title	Form No.	Form Name
Expenses Allocated to Effectively Connected Income under Regulations	1120-F (Sch H)	Deductions Allocated To Effectively Connected Income Under Regulations Section 1.861-8
Interest Expense Allocation Under Regulations Section 1.882-5	1120-F (Sch I)	Interest Expense Allocation Under Regulations Section 1.882-5
List of Foreign Partner Interests in Partnerships	Schedule P (Form 1120-F)	List of Foreign Partner Interest in Partnerships
Net Income (Loss) Reconsiliation for Foreign Corporations With Reportable Assets of $10 Million or More	Schedule M-3 (Form 1120-F)	Net Income (Loss) Reconciliation for Foreign Corporations With Reportable Assets of $10 Million or More
Reconsiliation of Income (Loss) and Analysis of Unappropriated Retained Earnings per Books	Schedules M1 & M2 (Form 1120-F)	Reconciliation of Income (Loss) and Analysis of Unappropriated Retained Earnings per Books
Schedule S - Exclusion of Income From the International Operation of Ships or Aircraft Under Section 883	Schedule S (Form 1120-F)	Exclusion of Income From the International Operation of Ships or Aircraft Under Section 883
Schedule V - List of Vessels or Aircraft, Operations, and Owners	Schedule V	List of Vessels or Aircraft, Operations, and Owners
U.S. Income Tax Return of a Foreign Corporation	1120-F	US Income Tax Return of a Foreign Corporation

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ICR Summary of Burden

table that charts list of burden

	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	127,250	123,000	4,250	0	0	0
Annual Time Burden (Hours)	7,696,046	7,622,314	73,732	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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: This is a new product that was developed in response to a program change initiated by IRS Counsel and LMSB.

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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: 11/26/2008

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