[Federal Register Volume 71, Number 51 (Thursday, March 16, 2006)]
[Notices]
[Pages 13673-13674]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-3808]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

March 9, 2006.

    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 April 17, 2006 
to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0202.
    Type of Review: Extension.
    Title: Form 5310, Application for Determination for Terminating 
Plan; Form 6088, Distributable Benefits from Employee Pension Benefit 
Plans.
    Form: IRS Form-5310 and 6088.
    Description: Employees who have qualified deferred compensation 
plans can take an income tax deduction for contributions to their 
plans. IRS uses the data on Forms 5310 and 6088 to determine whether a 
plan still qualifies and whether there is any discrimination in 
benefits.
    Respondents: Business or other for-profit.
    Estimated Total Burden Hours: 1,813,650 hours.
    OMB Number: 1545-1120.
    Type of Review: Extension.
    Title: CO-69-87 and CO-68-87 (Final) Final Regulations Under 
Sections 382 and 383 of the Internal Revenue Code of 1986; Pre-change 
Attributes; CO-18-90 (Final) Final Regulations Under Section 382 of the 
Internal Revenue Code of 1986; Limitations on Corporate Net Operating 
Loss Carryforwards.
    Description: (CO-69-87 and CO-68-87) these regulations require 
reporting by a corporation after it undergoes an ``ownership change'' 
under sections 382 and 383. Corporations required to report under these 
regulations include those with capital loss carryovers and excess 
credits. (CO-18-90) These regulations provide for rules for the 
treatment of options under IRC section 382 for purposes of determining 
whether a corporation undergoes an ownership change. The regulation 
allows for certain elections for corporations whose stock is subject to 
options.
    Respondents: Business or other for-profit.
    Estimated Total Burden Hours: 220,575 hours.
    OMB Number: 1545-1617.

[[Page 13674]]

    Type of Review: Extension.
    Title: REG-124069-02 (Final) Section 6038--Returns Required with 
Respect to Controlled Foreign Partnerships; REG-118966-97 (Final) 
Information Reporting With Respect to Certain Foreign Partnership and 
Certain Foreign Corporations.
    Description: REG-124069-02 Treasury Regulation Section 1.6038-3 
requires certain United States person who own interests in controlled 
foreign partnerships to annually report information to the IRS on Form 
8865. This regulation amends the reporting rules under Treasury 
Regulation section 1.6038-e to provide that a U.S. person must follow 
the filing requirements that are specified in the instructions for Form 
8865 when the U.S. person must file Form 8865 and the foreign 
partnership completes and files Form 1065 or Form 1065-B. REG-118966-97 
section 6038 requires certain U.S. persons who own interest in 
controlled foreign partnerships or certain foreign corporations to 
annually report information to the IRS. This regulation provides 
reporting rules to identify foreign partnerships and foreign 
corporations which are controlled by U.S. persons.
    Respondents: Individuals or households; business or other for-
profit.
    Estimated Total Burden Hours: 500 hours.
    OMB Number: 1545-1968.
    Type of Review: Extension.
    Title: Alternative Tax on Qualifying Shipping Activities.
    Form: IRS Form-8902.
    Description: Form 8902 is used to elect the alternative tax on 
notional income from qualifying shipping activities and to figure the 
alternative tax.
    Respondents: Business or other for-profit.
    Estimated Total Burden Hours: 3,056 hours.
    Clearance Officer: Glenn P. Kirkland, (202) 622-3428, Internal 
Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington, 
DC 20224.
    OMB Reviewer: Alexander T. Hunt, (202) 395-7316, Office of 
Management and Budget, Room 10235, New Executive Office Building, 
Washington, DC 20503.

Michael A. Robinson,
Treasury PRA Clearance Officer.
 [FR Doc. E6-3808 Filed 3-15-06; 8:45 am]
BILLING CODE 4830-01-P