Notification of Distribution from a Generation-Skipping Trust

Forms and Documents

Document Name	Status
Form Form 706-GS(D-1) Notification of Distribution From a Generation-Skipping Trust Form	Modified
1545-1143 Supporting Statement 2023.docx Supporting Statement A	2023-08-30

IC Document Collections

IC ID	Document Title	Status
17876	Notification of Distribution From a Generation-Skipping Trust Form	Modified

ICR Details

OMB Control No: 1545-1143	ICR Reference No: 202308-1545-001
Status: Received in OIRA	Previous ICR Reference No: 201905-1545-024
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Notification of Distribution from a Generation-Skipping Trust
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 08/30/2023

	Requested	Previously Approved
Expiration Date	36 Months From Approved	08/31/2023
Responses	13,000	80,000
Time Burden (Hours)	56,680	348,800
Cost Burden (Dollars)	0	0

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Abstract: Trustees use Form 706-GS(D-1) to report certain distributions from a trust that are subject to the generation-skipping transfer (GST) tax. The skip person distributee uses the information to figure any GST tax due on the distribution. The IRS uses the information to verify that the tax has been properly computed.

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Authorizing Statute(s): US Code: 26 USC 2601 Name of Law: Tax imposed.
   US Code: 26 USC 2662 Name of Law: Return Requirements
  

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 29803	05/08/2023
30-day Notice:	Federal Register Citation:	Citation Date:
	88 FR 60012	08/30/2023
Did the Agency receive public comments on this ICR? Yes

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

IC Title	Form No.	Form Name
Notification of Distribution From a Generation-Skipping Trust	Form 706-GS(D-1)	Notification of Distribution From a Generation-Skipping Trust

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ICR Summary of Burden

	Total Request	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	13,000	80,000	0	0	-67,000	0
Annual Time Burden (Hours)	56,680	348,800	0	0	-292,120	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 is no change in the burden per response previously approved by OMB. However, the number of responses was updated based on current filing data. This reduces the number of responses by 67,000 and the burden hours by 292,120 annually due to adjustment in agency estimates.

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Annual Cost to Federal Government: $26,846

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.     Yes

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: 08/30/2023

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