U.S. Income Tax Return for Real Estate Investment Trusts

Forms and Documents

Document	Type	Status	Availability
Form 1120-REIT U.S. Income Tax Return for Real Estate Investment Trusts	Form	Modified	Available
Expiration Explanation.rtf	Supplementary Document	Uploaded 2008-11-24	Available
Suppstmnt_Form_1120-REIT_REV.doc	Supporting Statement A	Uploaded 2012-02-13	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
39952	U.S. Income Tax Return for Real Estate Investment Trusts	Form	Modified

ICR Details

OMB Control No: 1545-1004	ICR Reference No: 201201-1545-020
Status: Historical Active	Previous ICR Reference No: 200811-1545-014
Agency/Subagency: TREAS/IRS	Agency Tracking No: jg-1004-020
Title: U.S. Income Tax Return for Real Estate Investment Trusts
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/18/2012
	Date Received in OIRA: 02/16/2012
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2015	36 Months From Approved	04/30/2012
Responses	1,136	0	1,136
Time Burden (Hours)	142,203	0	142,203
Cost Burden (Dollars)	0	0	0

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Abstract: Form 1120-REIT is filed by a corporation, trust, or association electing to be taxed as a REIT in order to report its income, and deductions, and to compute its tax liability. IRS uses Form 1120-REIT to determine whether the REIT has correctly reported its income, deductions, and tax liability.

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Authorizing Statute(s): US Code: 26 USC 857 Name of Law: Taxation of real estate investment trusts and their benficiaries.
   US Code: 26 USC 856 Name of Law: Definition of real estate investment trust.
   US Code: 26 USC 858 Name of Law: Dividends paid by real estate investment trust after close of taxable year.
   US Code: 26 USC 859 Name of Law: Adoption of annual accounting period.
  

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:
	76 FR 56878	09/14/2011
30-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 9301	02/16/2012
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
U.S. Income Tax Return for Real Estate Investment Trusts	1120-REIT	U.S. Income Tax Return for Real Estate Investment Trusts

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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	1,136	1,136	0	0	0	0
Annual Time Burden (Hours)	142,203	142,203	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:

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Annual Cost to Federal Government: $17,308

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: 02/16/2012

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