[Federal Register Volume 75, Number 59 (Monday, March 29, 2010)]
[Pages 15489-15490]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-6858]



Internal Revenue Service

Proposed Collection; Comment Request for Form 8865

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.


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 8865, Return of U.S. Persons With Respect to Certain Foreign 

DATES: Written comments should be received on or before May 28, 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 form and instructions should be directed to Allan 
Hopkins, at (202) 622-6665, or at Internal Revenue Service, room 6129, 
1111 Constitution Avenue NW., Washington, DC 20224, or through the 
Internet, at [email protected].

    Title: Return of U.S. Persons With Respect to Certain Foreign 
    OMB Number: 1545-1668.
    Form Number: 8865.
    Abstract: The Taxpayer Relief Act of 1997 significantly modified 
the information reporting requirements with respect to foreign 
partnerships. The Act made the following three changes: (1) Expanded 
Code section 6038B to require U.S. persons transferring property to 
foreign partnerships in certain transactions to report those transfers; 
(2) expanded Code section 6038 to require certain U.S. partners of 
controlled foreign partnerships to report information about the 
partnerships, and (3) modified the reporting required under Code 
section 6046A with respect to acquisitions and dispositions of foreign 
partnership interests. Form 8865 is used by U.S. persons to fulfill 
their reporting obligations under Code sections 6038B, 6038, and 6046A.
    Current Actions: There are no change being made to form 8865 at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, 
individuals, and not-for-profit institutions.
    Estimated Number of Respondents: 3,300.
    Estimated Time per Respondent: 89 hours, 44 minute.
    Estimated Total Annual Burden Hours: 296,124.
    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

[[Page 15490]]

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 4, 2010.
R. Joseph Durbala,
Supervisory Tax Analyst.
[FR Doc. 2010-6858 Filed 3-26-10; 8:45 am]