[Federal Register Volume 69, Number 104 (Friday, May 28, 2004)]
[Notices]
[Page 30748]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-12094]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

May 21, 2004.
    The Department of 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 
11000, 1750 Pennsylvania Avenue, NW., Washington, DC 20220.

DATES: Written comments should be received on or before June 28, 2004, 
to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-1068.
    Regulation Project Number: INTL-362-88 Final.
    Type of Review: Extension.
    Title: Definition of a Controlled Foreign Corporation, Foreign Base 
Company Income, and Foreign Personal Holding Company Income of a 
Controlled Foreign Corporation.
    Description: The election and recordkeeping requirements are 
necessary to exclude certain high-taxed or active business income from 
subpart F income or to include certain income in the appropriate 
category of subpart F income. The recordkeeping and election procedures 
allow the U.S. shareholders and the IRS to know the amount of the 
controlled foreign corporation's subpart F income.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 50,500.
    Estimated Burden Hours Respondent/Recordkeeper: 1 hour.
    Frequency of response: Other (one-time currency election).
    Estimated Total Reporting/Recordkeeping Burden: 50,417 hours.
    OMB Number: 1545-1443.
    Regulation Project Number: PS-25-94 Final.
    Type of Review: Extension.
    Title: Requirements to Ensure Collection of Section 2050A Estate 
tax (TD 8686).
    Description: The regulation provides guidance relating to the 
additional requirements necessary to ensure the collection of the 
estate tax imposed under section 2056A(b) with respect to taxable 
events involving qualified domestic trusts (QDOT's). In order to ensure 
collection of the tax, the regulation provides various security options 
that may be selected by the trust and the requirements associated with 
each option. In addition, under certain circumstances the trust is 
required to file an annual statement with the IRS disclosing the assets 
held by the trust.
    Respondents: Individuals or households.
    Estimated Number of Respondents: 4,390.
    Estimated Burden Hours Respondent: 1 hour, 23 minutes.
    Estimated Total Reporting Burden: 6,070 hours.
    Clearance Officer: Glenn P. Kirkland, (202) 622-3428, Internal 
Revenue Service, Room 6411-03, 1111 Constitution Avenue, NW., 
Washington, DC 20224.
    OMB Reviewer: Joseph F. Lackey, Jr., (202) 395-7316, Office of 
Management and Budget, Room 10235, New Executive Office Building, 
Washington, DC 20503.

Lois K. Holland,
Treasury PRA Clearance Officer.
[FR Doc. 04-12094 Filed 5-27-04; 8:45 am]
BILLING CODE 4830-01-P