Notification Requirement for Transfer of Partnership Interest in Electing Investment Partnership (EIP)

ICR 201712-1545-008

OMB: 1545-1939

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2018-01-30
Supplementary Document
2014-10-16
ICR Details
1545-1939 201712-1545-008
Active 201410-1545-004
TREAS/IRS
Notification Requirement for Transfer of Partnership Interest in Electing Investment Partnership (EIP)
Extension without change of a currently approved collection   No
Regular
Approved without change 04/26/2018
Retrieve Notice of Action (NOA) 02/14/2018
  Inventory as of this Action Requested Previously Approved
04/30/2021 36 Months From Approved 04/30/2018
266,400 0 266,400
552,100 0 552,100
0 0 0

The American Jobs Creation Act of 2004, P.L. 108–357, 118 Stat. 1418 (the Act), was enacted on October 22, 2004. The Treasury Department and the Internal Revenue Service intend to issue regulations implementing §§ 833 and 834 of the Act, which amended §§ 704, 734, 743, and 6031 of the Internal Revenue Code. This previously approved notice provides interim procedures for partnerships and their partners to comply with the mandatory basis provisions of §§ 734 and 743, as amended by the Act. This notice also provides interim procedures for electing investment partnerships (EIPs) and their partners to comply with §§ 743(e) and 6031(f), as provided in § 833(b) of the Act.

US Code: 26 USC 734 Name of Law: Adjustment to basis of undistributed partnership propertywhere section 754 election or substantial
   US Code: 26 USC 743 Name of Law: Special rules where section 754 election or substantial built-in loss
   US Code: 26 USC 6031 Name of Law: Return of partnership income
   US Code: 26 USC 6103 Name of Law: Confidentiality and disclosure of returns and return information
   PL: Pub.L. 108 - 357 118 Stat 1418 Name of Law: The American Jobs Creation Act of 2004
  
None

Not associated with rulemaking

  82 FR 58275 12/11/2017
83 FR 6732 02/14/2018
No

1
IC Title Form No. Form Name
Notice 2005-32 - Notification Requirement for Transfer of Partnership Interest in Electing Investment Partnership (EIP)

  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 266,400 266,400 0 0 0 0
Annual Time Burden (Hours) 552,100 552,100 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
    Yes
    No
No
No
No
Uncollected
Michala Irons 202 622-3050 [email protected]

  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.
02/14/2018


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