Notice 2010-46, Prevention of Over-Withholding of U.S. Tax Avoidance With Respect to Certain Subst

Forms and Documents

Document Name	Status
Supporting Statement.docx Supporting Statement A	2016-09-26

IC Document Collections

IC ID	Document Title	Status
192776	Notice 2010-46, Prevention of Over-Withholding and U.S. Tax Avoidance With Respect to Certain Substitute Dividend Payments	Modified
18753	Notice 97-66, Certain Payments Made Pursuant to a Securities Lending Transaction	Removed

ICR Details

OMB Control No: 1545-1566	ICR Reference No: 201609-1545-020
Status: Historical Active	Previous ICR Reference No: 201307-1545-008
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Notice 2010-46, Prevention of Over-Withholding of U.S. Tax Avoidance With Respect to Certain Subst
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: 01/02/2017
	Date Received in OIRA: 09/30/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2020	36 Months From Approved	12/31/2016
Responses	6,000	0	383,500
Time Burden (Hours)	2,000	0	62,750
Cost Burden (Dollars)	0	0	0

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Abstract: Notice 2010-46 modifies Notice 97-66, by providing necessary information to ensure taxpayers are not subject to excessive tax pursuant to IRC section 871(l). The information will allow a withholding agent to make a substitute dividend payment to certain counterparties in a series of securities lending transactions without withholding and depositing additional excessive tax.

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Authorizing Statute(s): US Code: 26 USC 871 Name of Law: Tax on nonresident alien individuals
   PL: Pub.L. 111 - 147 541 Name of Law: Hiring Incentives to Restore Employment Act
  

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 38774	06/14/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 65717	09/23/2016
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
Notice 97-66, Certain Payments Made Pursuant to a Securities Lending Transaction
Notice 2010-46, Prevention of Over-Withholding and U.S. Tax Avoidance With Respect to Certain Substitute Dividend Payments

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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	6,000	383,500	0	0	-377,500	0
Annual Time Burden (Hours)	2,000	62,750	0	1,000	-61,750	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 burden previously approved by OMB decreased by 61,750 hours, because the provisions in Notice 97-66 were transition rules that are no longer applicable. Notice 97-66 is removed from this information collection.

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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: 09/30/2016

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