[Federal Register Volume 74, Number 171 (Friday, September 4, 2009)]
[Notices]
[Page 45903]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-21348]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for REG-109512-05

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 
REG-109512-05, Information Returns Required with Respect to Certain 
Foreign Corporations and Certain Foreign-Owned Domestic Corporations.

DATES: Written comments should be received on or before November 3, 
2009 to be assured of consideration.

ADDRESSES: Direct all written comments to R. Joseph Durbala, Internal 
Revenue Service, Room 6129, 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 Allan 
Hopkins, (202) 622-6665, at Internal Revenue Service, Room 6129, 1111 
Constitution Avenue, NW., Washington, DC 20224, or through the Internet 
at [email protected].

SUPPLEMENTARY INFORMATION:
    Title: Information Returns Required with Respect to Certain Foreign 
Corporations and Certain Foreign-Owned Domestic Corporations.
    OMB Number: 1545-2020.
    Form Number: Form 8900.
    Abstract: This document contains final and temporary regulations 
that provide guidance under sections 6038 and 6038A of the Internal 
Revenue Code. The final regulations under Sec.  1.6038-2 are revised to 
remove and replace obsolete references to a form and IRS offices. The 
temporary regulations clarify the information required to be furnished 
regarding certain related party transactions of certain foreign 
corporations and certain foreign-owned domestic corporations. 
Specifically, in addition to the types of transactions listed in Sec.  
1.6038-2(f)(11), taxpayers are required to report the sales of tangible 
property other than stock in trade on Form 5471.
    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: Individuals or households, Businesses and other 
for-profit organizations.
    Estimated Number of Respondents: 5000.
    Estimated Time per Respondent: 25 minutes.
    Estimated Total Annual Burden Hours: 1,250.
    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: August 26, 2009.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. E9-21348 Filed 9-3-09; 8:45 am]
BILLING CODE 4830-01-P