[Federal Register Volume 75, Number 52 (Thursday, March 18, 2010)]
[Notices]
[Page 13207]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-5880]



[[Page 13207]]

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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[INTL-536-89]


Proposed Collection; Comment Request for Regulation Project

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 an 
existing final regulation, INTL-536-89 (TD 8300), Registration 
Requirements With Respect to Certain Debt Obligations; Application of 
Repeal of 30 Percent Withholding by the Tax Reform Act of 1984 (Sec.  
1.1998 to be assured of consideration).

DATES: Written comments should be received on or before May 17, 2010 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 information collection should be directed to Elaine 
Christophe, (202) 622-3179, or at Internal Revenue Service, Room 6129, 
1111 Constitution Avenue, NW., Washington, DC 20224, or through the 
Internet, at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Registration Requirements With Respect to Certain Debt 
Obligations; Application of Repeal of 30 Percent Withholding by the Tax 
Reform Act of 1984.
    OMB Number: 1545-1132.
    Regulation Project Number: INTL-536-89.
    Abstract: Sections 165(j) and 1287(a) of the Internal Revenue Code 
provide that persons holding registration-required obligations in 
bearer form are subject to certain penalties. These sections also 
provide that certain persons may be exempted from these penalties if 
they comply with reporting requirements with respect to ownership, 
transfers, and payments on the obligations. The reporting and 
recordkeeping requirements in this regulation are necessary to ensure 
that persons holding registration-required obligations in bearer form 
properly report interest and gain on disposition of the obligations.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of OMB approval.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents/Recordkeepers: 5000.
    Estimated Time per Respondent/Recordkeeper: 10 minutes.
    Estimated Total Annual Reporting/Recordkeeping Hours: 852.
    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: March 5, 2010.
R. Joseph Durbala,
IRS Tax Supervisory Analyst.
[FR Doc. 2010-5880 Filed 3-17-10; 8:45 am]
BILLING CODE 4830-01-P