Vehicle Loan Interest

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Treasury EE Justification - Notice 2025-57.docx	Supplementary Document	Uploaded 2025-10-20	Available
Treasury EE Justification - Notice 2025-57.docx	Supplementary Document	Uploaded 2025-10-20	Repair queued
1545-2334 Supporting Statement - Notice 2025-57.docx	Supporting Statement A	Uploaded 2025-10-20	Available
1545-2334 Supporting Statement - Notice 2025-57.docx	Supporting Statement A	Uploaded 2025-10-20	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
277841	Information Returns for Vehicle Loan Interest	Other-Notice	New

ICR Details

OMB Control No: 1545-2334	ICR Reference No: 202510-1545-002
Status: Active	Previous ICR Reference No:
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Vehicle Loan Interest
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 10/21/2025
OIRA Conclusion Action: Approved without change	Conclusion Date: 10/21/2025
Retrieve Notice of Action (NOA)	Date Received in OIRA: 10/20/2025
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2026	6 Months From Approved
Responses	8,000,000	0	0
Time Burden (Hours)	2,000,000	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: IRS Section 6050AA requires information reporting with respect to interest received on a specified passenger vehicle loan. Recipients of this interest are required to file an information return to the IRS and furnish a statement to individuals who pay or accrue the interest during a calendar year. The reporting requirements of section 6050AA allow the IRS to verify recipients’ compliance with the information reporting rules and to verify that individuals deduct the proper amount of interest on their tax return.

Emergency Justfication: The Department of the Treasury and the Internal Revenue Service (IRS) are requesting a new OMB Control Number 1545-NEW, Vehicle Loan Interest Statement, under emergency procedures in connection with provisions of section 70203 of Public Law 119-21, 139 Stat. 72, 176 (July 4, 2025), commonly known as the One, Big, Beautiful Bill Act (OBBBA). Section 163(h)(4) allows a deduction for qualified passenger vehicle loan interest. Section 6050AA requires information reporting with respect to interest received on a specified passenger vehicle loan. Recipients of this interest are required to file an information return to the IRS and furnish a statement to individuals who pay or accrue the interest during a calendar year. For interest received on a specified passenger vehicle loan in 2025, the information return must be filed on or before February 28, 2026 (March 31, 2026, if filed electronically), and the written statement must be furnished on or before January 31, 2026. Notice 2025-57 sets forth that the recipient of such interest will be deemed to have satisfied the reporting obligations under §6050AA for interest received on a specified passenger vehicle loan in 2025 if the recipient makes a statement available to the individual indicating the total amount of interest received in calendar year 2025 on a specified passenger vehicle loan. If the interest recipient satisfies this requirement, the IRS will not impose penalties under §§6721 and 6722 for a failure to file information returns and furnish payee statements under §6050AA with respect to interest received in 2025. The OBBBA was signed into law on July 4, 2025, and §163(h)(4), as amended, and new §6050AA apply to indebtedness incurred after December 31, 2024. Accordingly, recipients of interest have an immediate need for guidance about their information reporting obligations. The IRS needs to publish Notice 2025-57 as soon as possible, so that recipients of specified passenger vehicle loan interest can make the necessary changes to their systems to comply with their new reporting responsibilities under §6050AA for interest received in 2025. In addition, individuals need information on how much interest they paid or accrued in 2025 in order to claim the deduction allowable under §163(h)(4) on their individual income tax returns for taxable year 2025. Following normal Paperwork Reduction Act clearance procedures would thus result in harm to recipients of specified passenger vehicle loan interest who would be unable to timely make the necessary changes to their systems to comply with their new reporting responsibilities for interest received in 2025. Therefore, due to the extraordinary circumstances and statutory deadlines for implementing §6050AA, the Treasury and IRS request emergency processing of this information collection request by October 21, 2025 and approval for 180 days. Given the inability to seek public comment during such a short timeframe, IRS also respectfully requests a waiver from the requirement to publish a notice in the Federal Register seeking public comment during the period of Office of Management and Budget review. However, public comment will be solicited in conjunction with the subsequent extension of the approval to collect this information on the new Vehicle Loan Interest Statement which is being developed for this purpose in future years. The Treasury Department consulted with multiple stakeholder groups, including the National Automobile Dealers Association and the American Financial Services Association, in order to understand their operations so as to be able to minimize the burden of the collection of information. The Treasury Department also consulted with other interested agencies, including NHTSA, DOT, and IRS, in order to help streamline the process and make it easier for affected parties to comply with their reporting obligations.

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Authorizing Statute(s): US Code: 26 USC 6050AA Name of Law: Returns relating to applicable passenger vehicle loan interest received in trade or business from in
  

Citations for New Statutory Requirements: US Code: 26 USC 6050AA Name of Law: Returns relating to applicable passenger vehicle loan interest received in trade or business from in
PL: Pub.L. 119 - 21 70203 Name of Law: One, Big, Beautiful Bill Act

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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

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
Information Returns for Vehicle Loan Interest

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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	8,000,000	0	8,000,000	0	0	0
Annual Time Burden (Hours)	2,000,000	0	2,000,000	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: This is a new paperwork burden approval. Based on the new statute (IRC section 6050AA), the burden for this collection of information is 8,000,000 responses and 2,000,000 hours for the total burden.

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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.     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: 10/20/2025

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