[Federal Register Volume 71, Number 42 (Friday, March 3, 2006)]
[Notices]
[Pages 11025-11026]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-3066]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8300

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 8300, Report of Cash Payments Over $10,000 Received in a Trade or 
Business.

DATES: Written comments should be received on or before May 2, 2006 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal 
Revenue Service, room 6516, 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 R. Joseph 
Durbala, (202) 622-3634, at Internal Revenue Service, room 6516, 1111 
Constitution Avenue, NW., Washington, DC 20224, or through the Internet 
at [email protected].

SUPPLEMENTARY INFORMATION:
    Title: Report of Cash Payments Over $10,000 Received in a Trade or 
Business.
    OMB Number: 1545-0892.
    Form Number: Form 8300.
    Abstract: Internal Revenue Code section 6050I requires any person 
in a trade or business who, in the course of the trade or business, 
receives more than $10,000 in cash or foreign currency in one or more 
related transactions to report it to the IRS and provide a statement to 
the payer. Form 8300 is used for this purpose.
    Section 365 of the USA Patriot Act of 2001 (Pub. Law 107-56), 
adding new section 5331 to title 31 of the United States Code, 
authorized the Financial Crimes Enforcement Network to collect the 
information reported on Form 8300. In a joint effort to develop a dual 
use form, IRS and FinCEN worked together to ensure that the 
transmission of the data collected to FinCEN on Forms 8300 does not 
violate the provisions of section 6103. FinCEN makes the Forms 8300 
available to law enforcement through its Bank Secrecy Act information 
sharing agreements.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB. This form is being submitted for renewal 
purposes only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, farms, 
and the Federal government.

[[Page 11026]]

    Estimated Number of Respondents: 46,800.
    Estimated Time Per Respondent: 1 hour 22 minutes.
    Estimated Total Annual Burden Hours: 63,539.\1\
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    \1\ The burden for the information collection in 31 CFR 103.30 
(also approved under control number 1506-0018) relating to the Form 
8300, is reflected in the burden of the form.
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    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 
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: February 27, 2006.
Glenn P. Kirkland,
IRS Reports Clearance Officer
 [FR Doc. E6-3066 Filed 3-2-06; 8:45 am]
BILLING CODE 4830-01-P