Offshore Voluntary Disclosure Program (OVDP)

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 14708 Streamlined Domestic Penalty Reconsideration Request Related to Canadian Retirement Plans	Form	New	Repair queued
Form 14654 Certification by U.S. Person Residing in the United States for Streamlined Domestic Offshore Procedures	Form	New	Repair queued
Form 14653 Certification by U.S. Person Residing Outside of the United States for Streamlined Foreign Offshore Procedures	Form	New	Available
Form 14467 Statement on Abandoned Entities	Form	Modified	Available
IRS Response to Treasury OVDP - Streamlined request for public comment (CI forms) 2-8 (2).docx	Supplementary Document	Uploaded 2016-04-15	Available
Supporting Statement.DOC	Supporting Statement A	Uploaded 2016-04-15	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
217030	Streamlined Non-filer Program	Form	New	Streamlined Domestic Penalty Reconsideration Request Related to Canadian Retirement Plans
217030	Streamlined Non-filer Program	Form	New	Certification by U.S. Person Residing in the United States for Streamlined Domestic Offshore Procedures
217030	Streamlined Non-filer Program	Form	New	Certification by U.S. Person Residing Outside of the United States for Streamlined Foreign Offshore Procedures
205421	Statement of Dissolved Entities	Form	Modified	Statement on Abandoned Entities
205416	Streamlined Procedures Questionnaire	Other-Questionnaire	Removed
205415	OVDP Foreign Account or Asset Statement	Other-Statement	Modified
205414	OVDP Penalty Computation Worksheet	Other-Worksheet	Modified
205413	OVDP Submission Requirements	Other-Form 14457	Modified

ICR Details

OMB Control No: 1545-2241	ICR Reference No: 201506-1545-004
Status: Historical Active	Previous ICR Reference No: 201309-1545-089
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Offshore Voluntary Disclosure Program (OVDP)
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: 08/19/2016
Retrieve Notice of Action (NOA)	Date Received in OIRA: 05/17/2016
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2019	36 Months From Approved	12/31/2016
Responses	474,000	0	458,500
Time Burden (Hours)	757,000	0	726,500
Cost Burden (Dollars)	0	0	0

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Abstract: The information provided on the submission form will be used to assist in timely determination of acceptance into the Voluntary Disclosure Program. Taxpayers with undisclosed foreign accounts or entities should make a voluntary disclosure because it enables them to become compliant, avoid substantial civil penalties and generally eliminate the risk of criminal prosecution, including penalty sections 6651, 6035, 6038, 6046, 6048, and 6662.

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Authorizing Statute(s): US Code: 26 USC 6038 Name of Law: Information reporting with respect to certain foreigncorporations and partnerships
   US Code: 26 USC 6046 Name of Law: Returns as to organization or reorganization of foreigncorporations and as to acquisitions of their
   US Code: 26 USC 6048 Name of Law: Information with respect to certain foreign trusts
   US Code: 26 USC 6651 Name of Law: Failure to file tax return or to pay tax
   US Code: 26 USC 6662 Name of Law: Imposition of accuracy-related penalty on underpayments
  

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:
	80 FR 47998	08/10/2015
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 30610	05/17/2016
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 5

table that charts list of burden

IC Title	Form No.	Form Name
OVDP Foreign Account or Asset Statement
OVDP Penalty Computation Worksheet
OVDP Submission Requirements
Statement of Dissolved Entities	14467	Statement on Abandoned Entities
Streamlined Non-filer Program	14654, 14708, 14653	Certification by U.S. Person Residing Outside of the United States for Streamlined Foreign Offshore Procedures ,   Certification by U.S. Person Residing in the United States for Streamlined Domestic Offshore Procedures ,   Streamlined Domestic Penalty Reconsideration Request Related to Canadian Retirement Plans
Streamlined Procedures Questionnaire

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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	474,000	458,500	0	-2,000	17,500	0
Annual Time Burden (Hours)	757,000	726,500	0	-4,000	34,500	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: Yes

Burden Reduction Due to: Changing Forms

Short Statement: In September 2012, the IRS announced a new offshore initiative entitled the Streamlined Non-filer program. This program was developed specifically for US citizens with income solely from non-us sources. Although this program was successful at closing the non-filer loop, this program did not allow for amended returns to be filed reporting previously unreported foreign sourced income. As a result, an enhanced process was developed in which taxpayers will be allowed to file amended returns in order to report previously unreported foreign source income while allowing a relief from penalties. Forms 14653, 14654, and the new Form 14708 have replaced the need for Form 14438. The net result is a burden increase of 15,500 estimated responses and 30,500 estimated annual hours per year.

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Annual Cost to Federal Government: $0

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: 05/17/2016

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