Form 1120-ND, Return for Nuclear Decommissioning Funds and Certain Related Persons

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 1120-ND Return for Nuclear Decommissioning Funds and Certain Related Persons	Form	Modified	Available
Form 1120-ND Return for Nuclear Decommissioning Funds and Certain Related Persons	Form	Modified	Repair queued
SUP STAT 1545-0954 (Form 1120-ND) mb.docx	Supporting Statement A	Uploaded 2023-05-02	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
17575	Return for Nuclear Decommissioning Funds and Certain Related Persons	Form	Modified	Return for Nuclear Decommissioning Funds and Certain Related Persons
17575	Return for Nuclear Decommissioning Funds and Certain Related Persons	Form	Modified
17575	Return for Nuclear Decommissioning Funds and Certain Related Persons	Instruction	Modified

ICR Details

OMB Control No: 1545-0954	ICR Reference No: 202304-1545-004
Status: Historical Active	Previous ICR Reference No: 201911-1545-004
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Form 1120-ND, Return for Nuclear Decommissioning Funds and Certain Related Persons
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: 08/11/2023
Retrieve Notice of Action (NOA)	Date Received in OIRA: 05/30/2023
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2026	36 Months From Approved	08/31/2023
Responses	10	0	100
Time Burden (Hours)	326	0	3,259
Cost Burden (Dollars)	0	0	0

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Abstract: A nuclear utility files Form 1120-ND to report the income and taxes of a fund set up by the public utility to provide cash for the dismantling of the nuclear power plant. The IRS uses Form 1120-ND to determine if the fund income taxes are correctly computed and if a person related to the fund or the nuclear utility must pay taxes on self-dealing.

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Authorizing Statute(s): US Code: 26 USC 4951 Name of Law: Taxes on self-dealing
   US Code: 26 USC 468A Name of Law: Special rules for nuclear decommissioning costs
  

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:
	88 FR 10650	02/21/2023
30-day Notice:	Federal Register Citation:	Citation Date:
	88 FR 34229	05/26/2023
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

table that charts list of burden

IC Title	Form No.	Form Name
Return for Nuclear Decommissioning Funds and Certain Related Persons	1120-ND	Return for Nuclear Decommissioning Funds and Certain Related Persons

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ICR Summary of Burden

table that charts list 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	10	100	0	0	-90	0
Annual Time Burden (Hours)	326	3,259	0	0	-2,933	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: There are no changes in the paperwork burden previously approved by OMB. However, an adjustment to estimates made by IRS decreased number of responses to avoid duplication of burden for Form 1120-ND, from 100 to 10. The total annual burden hours decreased from 3,259 to 326 hours.

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Annual Cost to Federal Government: $25,588

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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? No

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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: 05/30/2023

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