[Federal Register Volume 59, Number 219 (Tuesday, November 15, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-28134]


[[Page Unknown]]

[Federal Register: November 15, 1994]


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DEPARTMENT OF THE TREASURY
 

Public Information Collection Requirements Submitted To OMB for 
Review

November 7, 1994.
    The Department of the Treasury has submitted the following public 
information collection requirement(s) to OMB for review and clearance 
under the Paperwork Reduction Act of 1980, Public Law 96-511. Copies of 
the submission(s) may be obtained by calling the Treasury Bureau 
Clearance Officer listed. Comments regarding this information 
collection should be addressed to the OMB reviewer listed and to the 
Treasury Department Clearance Officer, Department of the Treasury, Room 
2110, 1425 New York Avenue, NW., Washington, DC 20220.

Internal Revenue Service (IRS)

OMB Number: 1545-0054
Form Number: IRS Form 1000
Type of Review: Extension
Title: Ownership Certificate
Description: Form 1000 is used by citizens, resident individuals, 
fiduciaries, partnerships and nonresident partnerships in connection 
with interest on bonds of a domestic, resident foreign, or nonresident 
foreign corporation containing a tax-free covenant and issued before 
January 1, 1934. IRS uses the information to verify that the correct 
amount of tax was withheld.
Respondents: Individuals or households, Businesses or other for-profit, 
Small businesses or organizations
Estimated Number of Respondents/Recordkeepers: 1,500
Estimated Burden Hours Per Respondent/Recordkeeper: 3 hrs., 10 mins.
Frequency of Response: On occasion
Estimated Total Reporting/Recordkeeping Burden: 4,740 hours

OMB Number: 1545-0704
Form Number: IRS Form 5471 and Schedules J, M, N, and O
Type of Review: Revision
Title: Information Return of U.S. Persons with Respect to Certain 
Foreign Corporations
Description: Form 5471 and related schedules are used by U.S. persons 
that have an interest in a foreign corporation. The form is used to 
report income from the foreign corporation. The form and schedules are 
used to satisfy the reporting requirements of sections 6035, 6038 and 
6046 and the regulations thereunder pertaining to the involvement of 
U.S. persons with certain corporations.
Respondents: Individuals or households, Businesses or other for-profit, 
Small businesses or organizations
Estimated Number of Respondents/Recordkeepers: 43,000
Estimated Burden Hours Per Respondent/Recordkeeper:

----------------------------------------------------------------------------------------------------------------
                                                                  Learning about the law   Preparing and sending
                  Form                         Recordkeeping            or the form         the form to the IRS 
----------------------------------------------------------------------------------------------------------------
5471....................................  77 hr., 15 min........  23 hr., 1 min.........  30 hr., 35 min.       
Sch. J..................................  3 hr., 50 min.........  53 min................  1 hr., 0 min.         
Sch. M..................................  26 hr., 33 min........  6 min.................  32 min.               
Sch. N..................................  8 hr., 22 min.........  8 hr., 22 min.........  3 hr., 2 min.         
Sch. O..................................  10 hr., 46 min........  12 min................  23 min.               
----------------------------------------------------------------------------------------------------------------

Frequency of Response: Annually
Estimated Total Reporting/Recordkeeping Burden: 7,040,350 hours
Clearance Officer: Garrick Shear (202) 622-3869, Internal Revenue 
Service, Room 5571, 1111 Constitution Avenue, N.W., Washington, DC 
20224.
OMB Reviewer: Milo Sunderhauf (202) 395-7340, Office of Management and 
Budget, Room 10226, New Executive Office Building, Washington, DC 
20503.
Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 94-28134 Filed 11-14-94; 8:45 am]
BILLING CODE 4830-01-P