REG-164754-01 (FINAL) Split-Dollar Life Insurance Arrangements

ICR 201108-1545-011

OMB: 1545-1792

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2011-08-10
Supplementary Document
2008-06-11
IC Document Collections
ICR Details
1545-1792 201108-1545-011
Historical Active 200806-1545-015
TREAS/IRS em-1792-011
REG-164754-01 (FINAL) Split-Dollar Life Insurance Arrangements
Extension without change of a currently approved collection   No
Regular
Approved without change 12/12/2011
Retrieve Notice of Action (NOA) 10/31/2011
  Inventory as of this Action Requested Previously Approved
12/31/2014 36 Months From Approved 12/31/2011
115,000 0 115,000
32,500 0 32,500
0 0 0

The proposed regulations provide guidance for loans made pursuant to a split-dollar life insurance arrangement. To obtain a particular treatment under the regulations for certain split- dollar loans, the parties to the loan must make a written representation, which must be kept as part of their books and records and a copy filed with their federal income tax returns. In addition, if a split-dollar loan provides for contingent payments, the lender must produce a projected payment schedule for the loan and give the borrower a copy of the schedule. This schedule is used by parties to compute their interest accruals and any imputed transfers for tax purposes.

US Code: 26 USC 61 Name of Law: Gross income defined
   US Code: 26 USC 83 Name of Law: Property transferred in connection with performance of services
   US Code: 26 USC 301 Name of Law: Distributions of property
   US Code: 26 USC 7872 Name of Law: Treatment of loans with below-market interest rates
   US Code: 26 USC 6103 Name of Law: Confidentiality and disclosure of returns and return information
  
None

Not associated with rulemaking

  76 FR 33025 06/07/2011
76 FR 66355 10/26/2011
No

1
IC Title Form No. Form Name
REG-164754-01 (FINAL) Split-Dollar Life Insurance Arrangements

  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 115,000 115,000 0 0 0 0
Annual Time Burden (Hours) 32,500 32,500 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
No
No
No
No
Uncollected
David Silber 202 622-3930

  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.
10/31/2011


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