Form 3520-A--Annual Information Return of Foreign Trust With a U.S. Owner

Forms and Documents

Document Name	Status
Form 3520-A Annual Information Return of Foreign Trust With a U.S. Owner Form	Modified
Justification Statement .doc Justification for No Material/Nonsubstantive Change	2010-10-15
Expiration Explanation.rtf Supplementary Document	2009-12-23
3520a_SupStat.doc Supporting Statement A	2011-01-21

IC Document Collections

IC ID	Document Title	Status
17034	Annual Information Return of Foreign Trust With a U.S. Owner Form	Modified

ICR Details

OMB Control No: 1545-0160	ICR Reference No: 201010-1545-019
Status: Historical Active	Previous ICR Reference No: 200912-1545-014
Agency/Subagency: TREAS/IRS	Agency Tracking No: EC-1545-0160-019
Title: Form 3520-A--Annual Information Return of Foreign Trust With a U.S. Owner
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 with change	Conclusion Date: 01/21/2011
	Date Received in OIRA: 11/12/2010
Terms of Clearance: Prior to the any future renewal of this information collection (and any revisions to this form), IRS will take into consideration public comment received that recommended incorporating a de minimis threshold related to the reporting requirements of Form 3520-A. IRS' decisions on this matter must be reported in the supporting statement of any future submissions.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2013	02/28/2013	02/28/2013
Responses	500	0	500
Time Burden (Hours)	21,700	0	21,700
Cost Burden (Dollars)	0	0	0

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Abstract: Section 6048(b) requires that foreign trusts with at least one U.S. beneficiary must file an annual information return on Form 3520-A. The form is used to report the income and deductions of the foreign trust and provide statements to the U.S. owners and beneficiaries. IRS uses Form 3520-A to determine if the U.S. owner of the trust has included the net income of the trust in it's gross income.

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Authorizing Statute(s): US Code: 26 USC 6103 Name of Law: Confidentiality and disclosure of returns and return information
   US Code: 26 USC 6048(b) Name of Law: United States owner of foreign trust.
   US Code: 26 USC 6109 Name of Law: Identifying numbers
  

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:
	74 FR 32033	07/06/2009
30-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 69377	12/31/2009
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
Annual Information Return of Foreign Trust With a U.S. Owner	3520-A, 3520-A	Annual Information return of Foreign Trust With a U.S. Owner ,   Annual Information Return of Foreign Trust With a U.S. Owner

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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	500	500	0	0	0	0
Annual Time Burden (Hours)	21,700	21,700	0	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: To reflect final regulations per T.D. 9501 under 26 U.S.C. 6109 the form now asks for the Preparer's PTIN and no longer give the option of providing a social security number.

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Annual Cost to Federal Government: $9,400

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]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

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: 11/12/2010

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