[Federal Register Volume 66, Number 164 (Thursday, August 23, 2001)]
[Notices]
[Page 44437]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-21234]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

August 16, 2001.
    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 1995, Public Law 104-13. 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.

DATES: Written comments should be received on or before September 24, 
2001 to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-1142.
    Regulation Project Number: INTL-939-86 NPRM.
    Type of Review: Extension.
    Title: Insurance Income of a Controlled Foreign Corporation for 
Taxable Years Beginning After December 11, 1986.
    Description: The information is required to determine the location 
of moveable property; allocate income and deductions to the proper 
category of insurance income, determine those amounts for computing 
taxable income that are derived from an insurance company annual 
statement, and permit a Controlled Foreign Corporation (CFC) to elect 
to treat related person insurance income as income effectively 
connected with the conduct of a U.S. trade or business. The respondents 
will be businesses or other for-profit institutions.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 500.
    Estimated Burden Hours Per Respondent/Recordkeeper: 28 hours, 12 
minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 14,100 hours.

    OMB Number: 1545-1615.
    Regulation Project Number: REG-118926-97 Final.
    Type of Review: Extension.
    Title: Notice of Certain Transfers to Foreign Partnerships and 
Foreign Corporations.
    Description: Section 6038B requires U.S. persons to provide certain 
information when they transfer property to a foreign partnership or 
foreign corporation. This regulation provides reporting rules to 
identify United States persons who contribute property to foreign 
partnerships and to ensure the correct reporting of items with respect 
to those partnerships.
    Respondents: Business or other for-profit, individuals or 
households.
    Estimated Number of Respondents: 1.
    Estimated Burden Hours Per Respondent: 1 hour.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 1 hour.
    Clearance Officer: Garrick Shear, Internal Revenue Service, Room 
5244, 1111 Constitution Avenue, NW., Washington, DC 20224.
    OMB Reviewer: Alexander T. Hunt, (202) 395-7860,Office of 
Management and Budget,Room 10202, New Executive Office 
Building,Washington, DC 20503.

Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 01-21234 Filed 8-22-01; 8:45 am]
BILLING CODE 4830-01-P