Tax on Accumulation Distribution of Trusts

ICR 201601-1545-006

OMB: 1545-0192

Federal Form Document

Forms and Documents
Document
Name
Status
Form and Instruction
Modified
Supplementary Document
2009-10-15
Supporting Statement A
2016-02-22
IC Document Collections
ICR Details
1545-0192 201601-1545-006
Historical Active 201301-1545-003
TREAS/IRS Form_4970
Tax on Accumulation Distribution of Trusts
Extension without change of a currently approved collection   No
Regular
Approved without change 05/15/2016
Retrieve Notice of Action (NOA) 02/29/2016
  Inventory as of this Action Requested Previously Approved
05/31/2019 36 Months From Approved 05/31/2016
30,000 0 30,000
42,900 0 42,900
0 0 0

Form 4970 is used by a beneficiary of a domestic or foreign trust to compute the tax adjustment attributable to an accumulation distribution. The form is used to verify whether the correct tax has been paid on the accumulation distribution.

US Code: 26 USC 667 & 668 Name of Law: Treatment of amounts deemed distributed by trust in preceding years
  
None

Not associated with rulemaking

  80 FR 74836 11/30/2015
81 FR 10367 02/29/2016
No

1
IC Title Form No. Form Name
Tax on Accumulation Distribution of Trusts Form 4970 Tx on Accumulation Distribution of Trusts

  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 30,000 30,000 0 0 0 0
Annual Time Burden (Hours) 42,900 42,900 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$21,038
No
No
No
No
No
Uncollected
Jason Langley 2026224366

  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.
02/29/2016


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