[Federal Register Volume 62, Number 83 (Wednesday, April 30, 1997)]
[Notices]
[Pages 23531-23532]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-11166]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8811

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to take this opportunity to comment 
on proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning 
Form 8811, Information Return for Real Estate Mortgage Investment 
Conduits (REMICs) and Issuers of Collateralized Debt Obligations.

DATES: Written comments should be received on or before June 30, 1997 
to be assured of consideration.

ADDRESSES: Direct all written comments to Garrick R. Shear, Internal 
Revenue Service, room 5571, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form and instructions should be directed to Martha R. 
Brinson, (202) 622-3869, Internal Revenue Service, room 5571, 1111 
Constitution Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

    Title: Information Return for Real Estate Mortgage Investment 
Conduits (REMICs) and Issuers of Collateralized Debt Obligations.
    OMB Number: 1545-1099.
    Form Number: 8811.
    Abstract: Current regulations require real estate mortgage 
investment conduits (REMICS) to provide Forms 1099 to true holders of 
interests in these investment vehicles. Because of the complex 
computations required at each level and the potential number of 
nominees, the ultimate investor may not receive a Form 1099 and other 
information necessary to prepare their tax return in a timely fashion. 
Form 8811 collects information for publishing by the IRS so that 
brokers can contact REMICs to request the financial information and 
timely issue Forms 1099 to holders.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Responses: 1,000.
    Estimated Time Per Response: 3hr., 29 min.
    Estimated Total Annual Burden Hours: 3,490.
    The following paragraph applies to all of the collections of 
information covered by this notice:
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number. Books or records 
relating to a collection of information must be retained as long as 
their contents may become material in the administration of any 
internal revenue law. Generally, tax returns and tax return information 
are confidential, as required by 26 U.S.C. 6103.

Request for Comments:

    Comments submitted in response to this notice will be summarized 
and/or included in the request for OMB approval. All comments will 
become a matter of public record.
    Comments are invited on: (a) Whether the collection of information 
is necessary for the proper performance of the functions of the agency, 
including whether the information shall have practical utility; (b) the 
accuracy of the

[[Page 23532]]

agency's estimate of the burden of the collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology; and (e) 
estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Approved: April 24, 1997.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 97-11166 Filed 4-29-97; 8:45 am]
BILLING CODE 4830-01-U