Return of U.S. Persons With Respect to Certain Foreign Partnerships

Forms and Documents

Document Name	Status
Form 8865 Return of U.S. Persons With Respect to Certain Foreign Partnerships Form	Modified
2016 Supporting Statement.doc Supporting Statement A	2016-12-14
Non-Display Expiration Date Statement.docx Supplementary Document	2013-09-30

IC Document Collections

IC ID	Document Title	Status
41026	Return of U.S. Persons With Respect to Certain Foreign Partnerships Form	Modified

ICR Details

OMB Control No: 1545-1668	ICR Reference No: 201612-1545-002
Status: Historical Active	Previous ICR Reference No: 201309-1545-081
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Return of U.S. Persons With Respect to Certain Foreign Partnerships
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/03/2017
	Date Received in OIRA: 12/22/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2020	36 Months From Approved	03/31/2017
Responses	31,450	0	31,450
Time Burden (Hours)	245,074	0	245,074
Cost Burden (Dollars)	0	0	0

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Abstract: The Taxpayer Relief Act of 1997 significantly modified the information reporting requirements with respect to foreign partnerships. The Act made the following three changes (1) expanded section 6038B to require U.S. persons transferring property to foreign partnerships in certain transactions to report those transfers; (2) expanded section 6038 to require certain U.S. Partners of controlled foreign partnerships to report information about the partnerships; and (3) modified the reporting required under section 6046A with respect to acquisitions and dispositions of foreign partnership interests.

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Authorizing Statute(s): US Code: 26 USC 6038B Name of Law: Notice of certain transfers to foreign persons
   US Code: 26 USC 6046A Name of Law: Returns as to interests in foreign partnerships
   US Code: 26 USC 6038 Name of Law: Information reporting with respect to certain foreign
   US Code: 26 USC 6103 Name of Law: Confidentiality and disclosure of returns and return information
  

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 66738	09/28/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 94024	12/22/2016
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
Return of U.S. Persons With Respect to Certain Foreign Partnerships	8865 , Sch P (Form 8865), Sch O (Form 8865), Sch K-1 (Form 8865)	Return of U.S. Persons With Respect to Certain Foreign Partnerships ,   Partners Share of Income, Deductions, Credits, etc. ,   Transfer of Property to a Foreign Partnership (under section 6038B) ,   Acquisitions, Dispositions, and Changes of Interests in a Foreign Partnership

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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	31,450	31,450	0	0	0	0
Annual Time Burden (Hours)	245,074	245,074	0	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:

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Annual Cost to Federal Government: $503

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: 12/22/2016

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