[Federal Register Volume 76, Number 51 (Wednesday, March 16, 2011)]
[Notices]
[Pages 14458-14459]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-6113]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

March 10, 2011.
    The Department of the Treasury will submit the following public 
information collection requirements to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Public Law 104-13 on or 
after the date of publication of this notice. A copy of the submissions 
may be obtained by calling the Treasury Bureau Clearance Officer 
listed. Comments regarding these information collections should be 
addressed to the OMB reviewer listed and to the Treasury PRA Clearance 
Officer, Department of the Treasury, 1750 Pennsylvania Avenue, NW., 
Suite 11010, Washington, DC 20220.

DATES: Written comments should be received on or before April 15, 2011 
to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0200.
    Type of Review: Revision of a currently approved collection.
    Title: Application for Determination for Adopters of Master or 
Prototype or Volume Submitter Plans.
    Form: 5307.
    Abstract: This form is filed by employers or plan administrators 
who have adopted a prototype plan approved by the IRS National Office 
or a regional prototype plan approved by the IRS District Director to 
obtain a ruling that the plan adopted is qualified under IRC sections 
401(a) and 501(a). It may not be used to request a letter for a 
multiple employer plan.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 5,139,000 hours.

    OMB Number: 1545-1083.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: INTL-399-88 (TD 8483) Treatment of Dual Consolidated Losses.
    Abstract: Section 1503(d) denies use of the losses of one domestic 
corporation by another affiliated domestic corporation where the loss 
corporation is also subject to the income tax of another country. The 
regulation allows an affiliate to make use of the loss if the loss has 
not been used in the foreign group, to take the loss into income upon 
future use of the loss in the foreign country. The regulation also 
requires separate accounting for a dual consolidated loss where the 
dual resident corporation files a consolidated return.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 1,620 hours.

    OMB Number: 1545-1384.
    Type of Review: Revision of a currently approved collection.
    Title: Taxpayer Statement Regarding Refund.
    Form: 3911.
    Abstract: If taxpayer inquires about their non-receipt of refund 
(or lost or stolen refund) and the refund has been issued, the 
information and taxpayer signature are needed to begin tracing action.
    Respondents: Individuals or Households.
    Estimated Total Burden Hours: 1,660 hours.

    OMB Number: 1545-1394.
    Type of Review: Revision of a currently approved collection.
    Title: U.S. Income Tax Return for Settlement Funds (Under Section 
468B).
    Form: 1120-SF.
    Abstract: Form 1120-SF is used by settlement funds to report income 
and taxes on earnings of the fund. The fund may be established by court 
order, a breach of contract, a violation of law, an arbitration panel, 
or the Environmental Protection Agency. The IRS uses Form 1120-SF to 
determine if income and taxes are correctly computed.
    Respondents: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 26,310 hours.

    OMB Number: 1545-1423.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: PS-106-91, (TD 8563) State Housing Credit Ceiling and other 
Rules Relating to the Low-Income Housing Credit.
    Abstract: This document contains final regulations concerning the 
low-income housing credit under section 42 of the Internal Revenue 
Code. The regulations provide rules relating to the order in which 
housing credit dollar amounts are allocated from each State's housing 
credit ceiling under section 42(h)(3)(C) and the determination of which 
States qualify to receive credit

[[Page 14459]]

from a national pool of credit under section 42(h)(3)(D). The 
regulations affect State and local housing credit agencies and 
taxpayers receiving credit allocations, and provide them guidance for 
complying with section 42. The final regulations also amend Sec.  1.42-
5 to provide a cross reference to section 42(g)(8)(B).
    Respondents: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 275 hours.

    OMB Number: 1545-1471.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: REG-209626-93 (TD 8796) Notice, Consent, and Election 
Requirements under Sections 411(a)(11) and 417.
    Abstract: Regulation section 1.411(a)-11(c) provides that a 
participant's consent to a distribution under code section 411(a)(11) 
is not valid unless the participant receives a notice of his or her 
rights under the plan no more than 90 and no less than 30 days prior to 
the annuity starting date. Regulation section 1.417(e)-1 sets forth the 
same 90/30-day time period for providing the notice explaining the 
qualified joint and survivor annuity and waiver rights under Code 
section 417(a)(3).
    Respondents: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 8,333 hours.

    OMB Number: 1545-1476.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: INTL-3-95 (TD 8687) Source of Income from Sales of Inventory 
and Natural Resources Produced in One Jurisdiction and Sold in Another 
Jurisdiction.
    Abstract: The information requested is necessary for the Service to 
audit taxpayers' returns to ensure taxpayers have properly determined 
the source of income from sales of inventory produced in one country 
and sold in another.
    Respondents: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 1,125 hours.

    OMB Number: 1545-1637.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: REG-106177-98(TD 8845) Adequate Disclosure of Gifts.
    Abstract: The information requested in regulation section 
301.6501(c)-1(f) (2) that must be provided on a gift tax return is 
necessary to give the IRS a complete and accurate description of the 
transfer in order to begin the running of the statute of limitations on 
the gift. Prior to the expiration of the statute of limitations, a gift 
tax may be assessed and the value may be adjusted in order to determine 
the value of prior taxable gifts for estate and gift tax purposes.
    Respondents: Individuals or Households.
    Estimated Total Burden Hours: 1 hour.

    OMB Number: 1545-1925.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: REG-125628-01 (TD 9243) Revision of Income Tax Regulations 
under Sections 358, 367, 884, and 6038B Dealing with Statutory Mergers 
or Consolidations Under Section 368(a)(1)(A) involving One or More 
Foreign Corporations, and Guidance Necessary To Facilitate Business 
Electronic Filing Under Section 6038B.
    Abstract: The regulations provide rules regarding the merger or 
consolidation of domestic or foreign corporations.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 50 hours.

    OMB Number: 1545-2095.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: REG-139236-07--Measurement of Assets and Liabilities for 
Pension Funding Purposes.
    Abstract: These final regulations under sections 430(d), 430(g), 
430(h)(2), and 430(i) provide guidance on the determination of benefit 
liabilities and the valuation of plan assets for purposes of the 
funding requirements that apply to single employer defined benefit 
plans pursuant to changes made by the Pension Protection Act of 2006. 
In order to implement the statutory provisions under section 430(h)(2), 
the regulations provide for the sponsor of a defined benefit plan to 
make any of several elections related to the interest rate used for 
minimum funding purposes and require written notification of any such 
election to be provided to the plan's enrolled actuary. These final 
regulations provide for the sponsor of a defined benefit pension plan 
to make any of several elections.
    Respondents: Private Sector: Businesses or other for-profits, Not-
for-profit institutions.
    Estimated Total Burden Hours: 54,000 hours.

    OMB Number: 1545-2190.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: IRS Paid Preparer Tax Identification Number (PTIN) 
Application.
    Form: W-12.
    Abstract: Paid tax return preparers will be required to get a 
preparer tax identification number (PTIN), and to pay the fee required 
with the application. A third party will administer the PTIN 
application process. Most applications will be filled out on-line. Form 
W-12 is being developed to replace Form W-7P. Form W-12 will be used to 
collect the information the new regulations require and to collect the 
information the third party needs to administer the PTIN application 
process.
    Respondents: Individuals or Households.
    Estimated Total Burden Hours: 1,464,000 hours.

    OMB Number: 1545-2192.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Report of Branded Prescription Drug Information.
    Form: 8947.
    Abstract: Per Section 9008 of the Patient Protection and Affordable 
Care Act (ACA), Public Law 111-148 (124 Stat. 119 (2010)), Form 8947 is 
used to report controlled group status and information on orphan drug 
credits allowed for covered pharmaceutical manufacturers and importers.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 3,680 hours.

    Bureau Clearance Officer: Yvette Lawrence, Internal Revenue 
Service, 1111 Constitution Avenue, NW., Washington, DC 20224; (202) 
927-4374.
    OMB Reviewer: Shagufta Ahmed, Office of Management and Budget, New 
Executive Office Building, Room 10235, Washington, DC 20503; (202) 395-
7873.

Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2011-6113 Filed 3-15-11; 8:45 am]
BILLING CODE 4830-01-P