[Federal Register Volume 69, Number 159 (Friday, October 8, 2004)]
[Notices]
[Pages 60474-60475]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-22733]



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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

September 29, 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 November 8, 
2004, to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-1317.
    Regulation Project Number: INTL-79-31 Final.
    Type of Review: Extension.
    Title: Information Returns Required of United States Persons with 
Respect to Certain Foreign Corporations.
    Description: These regulations clarify certain requirements of 
sections 1.6035.1, 1.6038-2 and 1.6046-1 of the Income Tax Regulations 
relating to Form 5471 and affect controlled foreign corporations and 
their United States shareholders.
    Respondents: Business of other for-profit, individuals or 
households.
    Estimated Number of Respondents: 1.
    Estimated Burden Hours Respondent: 1 hour.
    Frequency of response: Annually.
    Estimated Total Reporting Burden: 1 hour.

    OMB Number: 1545-1324.
    Regulation Project Number: CO-88-90 Final.
    Type of Review: Extension.
    Title: Limitation on Net Operating Loss Carryforwards and Certain 
Built-in Losses Following Ownership Change; Special Rule for Value of a 
Loss Corporation under the Jurisdiction of a Court in a Title II Case.
    Description: This information serves as evidence of an election to 
apply section 382(1)(6) in lieu of section 382(1)(5) and an election to 
apply the provisions of the regulations retroactively. It is required 
by the Internal Revenue Service to assure that the proper amount of 
carryover attributes are used by a loss corporation following specified 
types of ownership changes.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 3,250.
    Estimated Burden Hours Respondent: 15 minutes.
    Frequency of response: On occasion.
    Estimated Total Reporting Burden: 813 hours.

    OMB Number: 1545-1341.
    Regulation Project Number: EE-43-92 Final.
    Type of Review: Extension.
    Title: Direct Rollovers and 20-Percent Withholding Upon Eligible 
Rollover Distributions from Qualified Plans.
    Description: These regulations provide rules implementing the 
provisions of the Unemployment Compensation Amendments (Public Law 102-
318) requiring 20 percent income tax withholding upon certain 
distributions from qualified pension plans or tax-sheltered annuities.
    Respondents: Individuals or households, Business of other for-
profit, not-for-profit institutions, Federal government, State, local 
or tribal government.
    Estimated Number of Respondents: 10,323,926.
    Estimated Burden Hours Respondent: 13 minutes.
    Frequency of response: Annually.
    Estimated Total Reporting Burden: 2,129,669 hours.

    OMB Number: 1545-1343.
    Regulation Project Number: PS-100-88 Final.
    Type of Review: Extension.
    Title: Valuation tables.
    Description: The regulations require individuals or fiduciaries to 
report information on Forms 706 and 709 in connection with the 
valuation of an annuity, an interest for life or a term of years, or a 
remainder or reversionary interest.
    Respondents: Individuals or households.
    Estimated Number of Respondents: 6,000.
    Estimated Burden Hours Respondent: 45 minutes.
    Frequency of response: On occasion.
    Estimated Total Reporting Burden: 4,500 hours.

    OMB Number: 1545-1361.
    Regulation Project Number: PS-89-91 Final.
    Type of Review: Extension.
    Title: Exports of Chemicals That Deplete the Ozone Layer; Special 
Rules for Certain Medical Uses of Chemicals That Deplete the Ozone 
Layer.
    Description: Section 4681 imposes a tax on ozone-depleting 
chemicals sold or used by a manufacturer or importer thereof. Section 
4682 provides exemptions and reduced rates of tax for certain uses of 
ozone-depleting chemicals. This regulation provides reporting and 
recordkeeping rules.
    Respondents: Business of other for-profit.
    Estimated Number of Respondents/Recordkeepers: 1,305.
    Estimated Burden Hours Respondent/Recordkeeper: 12 minutes.
    Frequency of response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 201 hours.

    OMB Number: 1545-1416.
    Form Number: IRS Form 8847.
    Type of Review: Extension.
    Title: Credit for Contributions to Selected Community Development 
Corporations.
    Description: Form 8847 is used to claim a credit for qualified 
contributions to a selected community development corporation (CDC).
    Respondents: Business or other for-profit, individuals or 
households.
    Estimated Number of Respondents/Recordkeepers: 34.
    Estimated Burden Hours Respondent/Recordkeeper:

 Recordkeeping--5 hr., 5 min.
 Learning about the law or the form--24 min.
 Preparing and sending the form to the IRS--30 min.

    Frequency of response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 210 hours.

    OMB Number: 1545-1743.
    Form Number: IRS Form 8851.
    Type of Review: Extension.
    Title: Summary of Archer MSAs.
    Description: This form will be used by the IRS to determine whether 
numerical limits set forth in section 220(j)(1) have been exceeded.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 200,000.
    Estimated Burden Hours Respondent/Recordkeeper:

 Recordkeeping--3 hr., 35 min.
 Learning about the law or the form--6 min.
 Preparing, copying, assembling, and sending the form to the IRS--9 
min.

    Frequency of response: Annually, other (additional report for 
2001).
    Estimated Total Reporting/Recordkeeping Burden: 1,540,000 hours.
    Clearance Officer: Paul H. Finger, (202) 622-4078, Internal Revenue 
Service, Room 6516, 1111 Constitution Avenue, NW., Washington, DC 
20224.
    OMB Reviewer: Joseph F. Lackey, Jr., (202) 395-7316, Office of 
Management

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and Budget, Room 10235, New Executive Office Building, Washington, DC 
20503.

Lois K. Holland,
Treasury PRA Clearance Officer.
[FR Doc. 04-22733 Filed 10-7-04; 8:45 am]
BILLING CODE 4830-01-P