TD 9504, Basis Reporting by Securities Brokers and Basis Determination for Stock; TD 9616,TD9713, and TD 9750

Forms and Documents

Document Name	Status
Spprt Stmnt Revised 7-28-16 Final.doc Supporting Statement A	2016-07-28

IC Document Collections

IC ID	Document Title	Status
192738	Basis Reporting by Securities Brokers and Basis Determination ro Debt Instruments and Options	Modified

ICR Details

OMB Control No: 1545-2186	ICR Reference No: 201607-1545-028
Status: Historical Active	Previous ICR Reference No: 201308-1545-011
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: TD 9504, Basis Reporting by Securities Brokers and Basis Determination for Stock; TD 9616,TD9713, and TD 9750
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: 01/13/2017
	Date Received in OIRA: 07/29/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2020	36 Months From Approved	01/31/2017
Responses	11,211,500	0	4,011,500
Time Burden (Hours)	694,750	0	241,417
Cost Burden (Dollars)	0	0	0

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Abstract: This document contains regulations relating to reporting by brokers for transactions involving debt instruments and options. These regulations reflect changes in the law made by the Energy Improvement and Extension Act of 2008 that require brokers when reporting the sale of securities to the IRS to include the customer's adjusted basis in the sold securities and to classify any gain or loss as long-term or short-term.

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Authorizing Statute(s): PL: Pub.L. 110 - 343 403 Name of Law: Energy Improvement and Extension Act of 2008
   US Code: 26 USC 1,6045-1(n)(5) Name of Law: Returns of information of brokers and barter exchanges
  

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:
	81 FR 8149	02/18/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 49716	07/28/2016
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
Basis Reporting by Securities Brokers and Basis Determination ro Debt Instruments and Options

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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	11,211,500	4,011,500	0	7,200,000	0	0
Annual Time Burden (Hours)	694,750	241,417	0	453,333	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The first update to the burden was required when the regulations were amended to require transfer statement reporting for debt instruments, options, and securities futures contracts in REG-102988-11. The first update increased the burden by 450,000 hours and was not included in the last OMB approval. The third update to the burden was required when the regulations were amended to require transfer statement reporting for section 1256 options and additional transfer statement information for debt instruments in TD 9713. See §1.6045A-1(e) and (f). The third update increased the burden by 3,333 hours, for a total burden request of 694,750 hours due to program changes.

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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: 07/29/2016

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