U.S. Income Tax Return for Qualified Funeral Trusts

Forms and Documents

Document Name	Status
Form 1041 QFT U.S. Income Tax Return for Qualified Funeral Trusts Form and Instruction	Modified
Justification_for_Change.doc Justification for No Material/Nonsubstantive Change	2013-12-05

IC Document Collections

IC ID	Document Title	Status
18852	U.S. Income Tax Return for Qualified Funeral Trusts Form and Instruction	Modified

ICR Details

OMB Control No: 1545-1593	ICR Reference No: 201306-1545-030
Status: Historical Active	Previous ICR Reference No: 201302-1545-011
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: U.S. Income Tax Return for Qualified Funeral Trusts
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 without change	Conclusion Date: 12/10/2013
	Date Received in OIRA: 12/05/2013
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2016	04/30/2016	04/30/2016
Responses	15,000	0	15,000
Time Burden (Hours)	277,500	0	270,150
Cost Burden (Dollars)	0	0	0

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Abstract: IRC section 685 allows the trustee of a qualified funeral trust to elect to report and pay the tax for the trust. Data is used to determine that the trustee filed the proper return and paid the correct tax.

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Authorizing Statute(s): US Code: 26 USC 685 Name of Law: Treatment of funeral costs.
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 152 1141 Name of Law: null

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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:
	77 FR 64378	10/19/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 13758	02/28/2013
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 Qualified Funeral Trusts	1041 QFT	U.S. Income Tax Return for Qualified Funeral 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	15,000	15,000	0	0	0	0
Annual Time Burden (Hours)	277,500	270,150	7,350	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: The new investment tax, under IRC section 1411, effective for tax years beginning after December 31, 2012, will be included on Form 1041-QFT by inserting new lines at 15 and 16 of the form and renumbering the remaining lines to accommodate the additions. P.L. 111-152. Net investment income tax. For tax years beginning in 2013, an estate or trust may be subject to net investment income tax (NIIT). NIIT is a 3.8% tax on the lesser of an estate's or trust's undistributed net investment income or the excess of the estate's or trust's adjusted gross income over a specified threshold amount. NIIT may need to be included when figuring estimated tax. The increase of 7,350 burden hours is due to new statute.

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Annual Cost to Federal Government: $200

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: 12/05/2013

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