Form 8302, Electronic Deposit of Tax Refund of $1 Million or More

Forms and Documents

Document Name	Status
Form 8302 Form 8302---Electronic Deposit of Tax Refund of $1 Million or More. Form and Instruction	Modified
2024 Supporting Statement 1545-1763-Clean.docx Supporting Statement A	2024-07-18

IC Document Collections

IC ID	Document Title	Status
19315	Form 8302---Electronic Deposit of Tax Refund of $1 Million or More. Form and Instruction	Modified

ICR Details

OMB Control No: 1545-1763	ICR Reference No: 202405-1545-017
Status: Received in OIRA	Previous ICR Reference No: 202102-1545-001
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Form 8302, Electronic Deposit of Tax Refund of $1 Million or More
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: 07/31/2024

	Requested	Previously Approved
Expiration Date	36 Months From Approved	07/31/2024
Responses	160	584
Time Burden (Hours)	272	1,729
Cost Burden (Dollars)	0	0

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Abstract: Form 8302 is used to report an electronic deposit of a tax refund of $1 million or more directly into an account at any U.S. bank or other financial institution that accepts electronic deposits.

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Authorizing Statute(s): US Code: 26 USC 6011 Name of Law: General requirement of return, statement, or list
  

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:
	89 FR 24570	04/08/2024
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 61586	07/31/2024
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
Form 8302---Electronic Deposit of Tax Refund of $1 Million or More.	8302	Electronic Deposit of Tax Refund of $1 Million or more

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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	160	584	0	0	-424	0
Annual Time Burden (Hours)	272	1,729	0	0	-1,457	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: IRS has revised the burden evaluation for the collection. This decrease in the burden is due to Agency Estimate by 202 hours. Additionally, IRS has updated the number of responses based on current filing data. This reduces the number of responses by 424. Both changes reduce the total burden hours by 1,457 annually due to Agency Estimate.

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Annual Cost to Federal Government: $25,071

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.     Yes

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: 07/31/2024

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