TD 9360 (Final) - Guidance on Passive Foreign Company (PFIC) Purging Elections

ICR 201808-1545-003

OMB: 1545-1965

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2018-09-26
IC Document Collections
ICR Details
1545-1965 201808-1545-003
Active 201509-1545-010
TREAS/IRS
TD 9360 (Final) - Guidance on Passive Foreign Company (PFIC) Purging Elections
Extension without change of a currently approved collection   No
Regular
Approved without change 02/27/2019
Retrieve Notice of Action (NOA) 11/30/2018
OMB understands that the IRS is currently in the process of revising the methodology it uses to estimate burden and costs. OMB expects that future ICRs under this OMB control number will include dollar estimates of annual burden costs to taxpayers calculated using this revised methodology.
  Inventory as of this Action Requested Previously Approved
02/28/2022 36 Months From Approved 02/28/2019
250 0 250
250 0 250
0 0 0

The IRS needs the information to substantiate the taxpayer's computation of the taxpayer's share of the PFIC's post-1986 earning and profits.

US Code: 26 USC 1297 Name of Law: Passive foreign investment company.
  
None

Not associated with rulemaking

  83 FR 20142 05/07/2018
83 FR 61722 11/30/2018
No

1
IC Title Form No. Form Name
TD 9360 (Final) - Guidance on Passive Foreign Company (PFIC) Purging Elections

  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 250 250 0 0 0 0
Annual Time Burden (Hours) 250 250 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
    No
    No
No
No
No
Uncollected
Jeffery Mitchell 202 622-4970

  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.
11/30/2018


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