Qualified Intermediary (QI), Withholding Foreign Partnership (WP), and Withholding Foreign Trust (WT) Application and Account Management System

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 14345 Application for Qualified Intermediary, Withholding	Form and Instruction	Modified	Available
Form 14345 Application for Qualified Intermediary, Withholding Foreign Partnership, or Withholding Foreign Trust Status	Form and Instruction	Modified	Repair queued
QI_TEAM_RESPONSES_IIAC_Final_TB approved.docx	Supplementary Document	Uploaded 2024-11-21	Available
QI_TEAM_RESPONSES_IIAC_Final_TB approved.docx	Supplementary Document	Uploaded 2024-11-21	Repair queued
IIAC Letter to the IRS re Consultation on Burden Related to QI WP WT Application and Account Management System-June 2024.pdf	Public Comments	Uploaded 2024-06-28	Repair queued
Supporting Statement-1545-1597-MS.docx	Supporting Statement A	Uploaded 2024-11-01	Available
Supporting Statement-1545-1597-MS.docx	Supporting Statement A	Uploaded 2024-11-01	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
18868	Application for Qualified Intermediary, Withholding Foreign Partnership, or Withholding Foreign Trust Status	Form and Instruction	Modified	Application for Qualified Intermediary, Withholding
18868	Application for Qualified Intermediary, Withholding Foreign Partnership, or Withholding Foreign Trust Status	Form and Instruction	Modified

ICR Details

OMB Control No: 1545-1597	ICR Reference No: 202407-1545-002
Status: Active	Previous ICR Reference No: 202105-1545-015
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Qualified Intermediary (QI), Withholding Foreign Partnership (WP), and Withholding Foreign Trust (WT) Application and Account Management System
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: 03/25/2025
Retrieve Notice of Action (NOA)	Date Received in OIRA: 11/29/2024
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2027	36 Months From Approved	03/31/2025
Responses	1,097,991	0	1,097,991
Time Burden (Hours)	301,018	0	301,018
Cost Burden (Dollars)	0	0	0

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Abstract: Internal Revenue Code (IRC) Section 1441 (Withholding of tax on nonresident aliens), states any nonresident alien individual or of any foreign partnership shall deduct and withhold from such items a tax equal to 30 percent or 14 percent depending on circumstances. Revenue Procedure 2022-43 sets forth the final qualified intermediary (QI) withholding agreement (QI agreement) entered by the Internal Revenue Service and certain foreign persons under Treas. Reg. § 1.1441-1(e) (5) and (6). The Qualified Intermediary (QI), Withholding Foreign Partnership (WP), and Withholding Foreign Trust (WT) Application and Account Management System (QAAMS) allows entities to apply, renew, or terminate their status as a QI, WP, or WT.

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Authorizing Statute(s): US Code: 26 USC 1441 Name of Law: Withholding of tax on nonresident aliens.
  

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 35926	05/02/2024
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 94880	11/29/2024
Did the Agency receive public comments on this ICR? Yes

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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
Application for Qualified Intermediary, Withholding Foreign Partnership, or Withholding Foreign Trust Status	14345	Application for Qualified Intermediary, Withholding

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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	1,097,991	1,097,991	0	0	0	0
Annual Time Burden (Hours)	301,018	301,018	0	0	0	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:

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Annual Cost to Federal Government: $0

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: 11/29/2024

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