Split-Interest Trust Information Return

Forms and Documents

Document	Type	Status	Availability
Form 5227 Split-Interest Trust Information Return	Form	Modified	Available
ombat1.doc	Supplementary Document	Uploaded 2010-01-11	Available
Form 5227_2009SS.doc	Supporting Statement A	Uploaded 2010-01-11	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
39698	Split-Interest Trust Information Return	Form	Modified
191738	Form 5227 - Cap Gains Worksheet	Other-Worksheet	New
191737	Form 5227 - Ordin. Income Distribution Worksheet	Other-Worksheet	New

ICR Details

OMB Control No: 1545-0196	ICR Reference No: 200902-1545-002
Status: Historical Active	Previous ICR Reference No: 200801-1545-022
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Split-Interest Trust Information Return
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/26/2010
	Date Received in OIRA: 01/27/2010
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2013	36 Months From Approved	03/31/2010
Responses	220,000	0	220,000
Time Burden (Hours)	15,152,550	0	15,042,250
Cost Burden (Dollars)	0	0	0

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Abstract: The data reported is used to verify that the beneficiaries of a charitable remainder trust include the correct amounts in their tax returns, and that the split-interest trust is not subject to private foundation taxes.

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Authorizing Statute(s): US Code: 26 USC 6012 Name of Law: Persons required to make returns of income
   US Code: 26 USC 642 Name of Law: Special rules for credits and deductions
   US Code: 26 USC 4947 Name of Law: Application of taxes to certain nonexempt trusts
   US Code: 26 USC 6103 Name of Law: Confidentiality and disclosure of returns and return information
   US Code: 26 USC 6034 Name of Law: Returns by trusts described in section 4947(a)(2) or claiming charitable deductions under section 64
   US Code: 26 USC 664 Name of Law: Charitable remainder trusts
  

Citations for New Statutory Requirements: PL: Pub.L. 109 - 222 102 Name of Law: Tax Increase Prevention and Reconciliation Act of 2005
PL: Pub.L. 108 - 27 303, 301 Name of Law: Jobs and Growth Tax Relief Reconciliation Act of 2003

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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:
	74 FR 42958	08/25/2009
30-day Notice:	Federal Register Citation:	Citation Date:
	75 FR 4449	01/27/2010
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 3

IC Title	Form No.	Form Name
Split-Interest Trust Information Return	5227	Split-Interest Trust Information Return
Form 5227 - Ordin. Income Distribution Worksheet
Form 5227 - Cap Gains Worksheet

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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	220,000	220,000	0	0	0	0
Annual Time Burden (Hours)	15,152,550	15,042,250	111,550	0	-1,250	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: Changing Regulations

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

Burden Reduction Due to: Miscellaneous Actions

Short Statement: Form 5227 is used to verify that the beneficiaries of a charitable remainder trust include the correct amounts in their tax returns, and that the split-interest trust is not subject to private foundation taxes. Changes were made to incorporate the new filing requirements of ICR section 6034. Due to the addition of 4 entry spaces, the total burden has increased by 111,550 hours. The additional entry spaces incorporated a donation date which is essential to checking the calculation of the unitrust amount. In previous revisions the date was requested under question 55 on Page 3. An adjustment of -1,250 hours has also been made to correction previous inconsistencies with IRS estimates.

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Annual Cost to Federal Government: $2,050

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: 01/27/2010

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