Information Return of U.S. Persons With Respect To Foreign Disregarded Entities (Form 8858); and Transactions Between Foreign Disregarded Entity of a Foreign Tax Owner and the Filer

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 8858 Information Return of U.S. Persons With Respect To Foreign Disregarded Entities	Form	Modified	Available
Form Sch M (F. 8858) Transaction Between Foreign Disregarded Entity of a Foreign Tax Owner and the Filer on Other Related Entities	Form and Instruction	New	Available
ombat1.doc	Supplementary Document	Uploaded 2011-09-26	Available
Supporting Statement.doc	Supporting Statement A	Uploaded 2011-10-14	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
41182	Form 8858 - Information Return of U.S. Persons With Respect To Foreign Disregarded Entities	Instruction	Modified
41182	Form 8858 - Information Return of U.S. Persons With Respect To Foreign Disregarded Entities	Form	Modified	Information Return of U.S. Persons With Respect To Foreign Disregarded Entities
199437	Schedule M (Form 8858) - Transaction Between Foreign Disregarded Entity of a Foreign Tax Owner and the Filer on Other Related Entities	Form and Instruction	New	Transaction Between Foreign Disregarded Entity of a Foreign Tax Owner and the Filer on Other Related Entities
199437	Schedule M (Form 8858) - Transaction Between Foreign Disregarded Entity of a Foreign Tax Owner and the Filer on Other Related Entities	Other-2011 Draft	New

ICR Details

OMB Control No: 1545-1910	ICR Reference No: 201109-1545-029
Status: Historical Active	Previous ICR Reference No: 200805-1545-010
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Information Return of U.S. Persons With Respect To Foreign Disregarded Entities (Form 8858); and Transactions Between Foreign Disregarded Entity of a Foreign Tax Owner and the Filer
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: 12/29/2011
Retrieve Notice of Action (NOA)	Date Received in OIRA: 12/28/2011
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2014	36 Months From Approved	12/31/2011
Responses	70,000	0	70,000
Time Burden (Hours)	1,832,500	0	1,832,500
Cost Burden (Dollars)	0	0	0

---

Abstract: Form 8858 and Schedule M (Form 8858) are used by certain U.S. persons that own a foreign disregarded entity (FDE) directly or, in certain circumstances, indirectly or constructively.

---

Authorizing Statute(s): US Code: 26 USC 6011 Name of Law: General requirement of return, statement, or list
   US Code: 26 USC 6012 Name of Law: Persons required to make returns of income
   US Code: 26 USC 6031 Name of Law: Return of partnership income
   US Code: 26 USC 6038 Name of Law: Information reporting with respect to certain foreign corporations and partnerships
  

Citations for New Statutory Requirements: None

---

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

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 40775	07/11/2011
30-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 81557	12/28/2011
Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 2

table that charts list of burden

IC Title	Form No.	Form Name
Form 8858 - Information Return of U.S. Persons With Respect To Foreign Disregarded Entities	8858	Information Return of U.S. Persons With Respect To Foreign Disregarded Entities
Schedule M (Form 8858) - Transaction Between Foreign Disregarded Entity of a Foreign Tax Owner and the Filer on Other Related Entities	Sch M (F. 8858)	Transaction Between Foreign Disregarded Entity of a Foreign Tax Owner and the Filer on Other Related Entities

---

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	70,000	70,000	0	0	0	0
Annual Time Burden (Hours)	1,832,500	1,832,500	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: Form 8858 and Schedule M (Form 8858) are used by certain U.S. persons that own a foreign disregarded entity (FDE) directly or, in certain circumstances, indirectly or constructively. Cosmetic changes were made to clarify how the burden is listed in the OMB database system. There is no change in the overall burden being requested for this collect.

---

Annual Cost to Federal Government: $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

---

Common Form ICR:  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:

(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: 12/28/2011

---