Return by a U.S. Transferor of Property to a Foreign Corporation

Forms and Documents

Document	Type	Status	Availability
Form Form 926 Return by a U.S. Transferor of Property to a Foreign Corporation	Form	Modified	Repair queued
Summary of changes for Form 926.pdf	Justification for No Material/Nonsubstantive Change	Uploaded 2009-01-28	Available
F926.Sup Stmnt.doc	Supporting Statement A	Uploaded 2007-05-14	Repair queued
F926_brdn_busi.PDF	Supplementary Document	Uploaded 2007-05-10	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
39372	Return by a U.S. Transferor of Property to a Foreign Corporation	Form	Modified

ICR Details

OMB Control No: 1545-0026	ICR Reference No: 200901-1545-027
Status: Historical Active	Previous ICR Reference No: 200705-1545-024
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Return by a U.S. Transferor of Property to a Foreign Corporation
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/02/2010
	Date Received in OIRA: 12/01/2009
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2010	09/30/2010	09/30/2010
Responses	667	0	667
Time Burden (Hours)	29,902	0	9,419
Cost Burden (Dollars)	0	0	0

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Abstract: U.S. persons file Form 926 to report the transfer of property to a foreign corporation and to report information required by section 367. The IRS uses Form 926 to determine if the gain, if any, must be recognized by the U.S. person.

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Authorizing Statute(s): US Code: 26 USC 6038B Name of Law: Information reporting with respect to certain foreign corporations and partnerships
   US Code: 26 USC 6103 Name of Law: Confidentiality and disclosure of returns and return information
  

Citations for New Statutory Requirements: None

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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:
	72 FR 11941	03/14/2007
30-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 39663	07/19/2007
Did the Agency receive public comments on this ICR? No

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

IC Title	Form No.	Form Name
Return by a U.S. Transferor of Property to a Foreign Corporation	Form 926	Return by a U.S. Transferor of Property to a Foreign Corporation

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ICR Summary 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	667	667	0	0	0	0
Annual Time Burden (Hours)	29,902	9,419	0	20,483	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

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

Burden Reduction Due to:

Short Statement: Form 926 has been redesigned for tax year 2008 at the request of IRS Counsel and LMSB (International). Part III is new and numerous changes have been made throughout the remaining parts.

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Annual Cost to Federal Government: $700

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)? No

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: 12/01/2009

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