REG-209040-88 (NPRM) Qualified Electing Fund Elections

ICR 201203-1545-006

OMB: 1545-1514

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2012-03-06
IC Document Collections
IC ID
Document
Title
Status
18564
Unchanged
ICR Details
1545-1514 201203-1545-006
Historical Active 200903-1545-013
TREAS/IRS EC-1545-1514
REG-209040-88 (NPRM) Qualified Electing Fund Elections
Extension without change of a currently approved collection   No
Regular
Approved without change 08/02/2012
Retrieve Notice of Action (NOA) 05/21/2012
  Inventory as of this Action Requested Previously Approved
08/31/2015 36 Months From Approved 08/31/2012
1,030 0 1,030
600 0 600
0 0 0

The regulations permit certain shareholders to make a special section 1295 election with respect to certain preferred shares of a PFIC. Taxpayers must indicate the election on a Form 8621 and attach a statement containing certain information and representations. Form 8621 must be filed annually. The shareholder also must obtain, and retain a copy of, a statement from the corporation as to its status as a PFIC.

US Code: 26 USC 1295 Name of Law: Qualified electing fund.
  
None

Not associated with rulemaking

  77 FR 7242 02/10/2012
77 FR 29457 05/17/2012
No

1
IC Title Form No. Form Name
REG-209040-88 (NPRM) Qualified Electing Fund Elections

  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 1,030 1,030 0 0 0 0
Annual Time Burden (Hours) 600 600 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
No
No
No
No
Uncollected
Valerie Mark-Lippe 202 622-3840

  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.
05/21/2012


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