[Federal Register Volume 85, Number 23 (Tuesday, February 4, 2020)]
[Notices]
[Pages 6262-6263]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-02079]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 5227
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
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SUMMARY: The Internal Revenue Service, 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
information collections, as required by the Paperwork Reduction Act of
1995. The IRS is soliciting comments concerning Form 5227, Split-
Interest Trust Information Return.
DATES: Written comments should be received on or before April 6, 2020
to be assured of consideration.
ADDRESSES: Direct all written comments to Dr. Philippe Thomas, Internal
Revenue Service, Room 6526, 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 Sara
Covington, at (202) 317-6038, or Internal Revenue Service, Room 6526,
1111 Constitution Avenue NW, Washington, DC 20224, or through the
internet at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Split-Interest Trust Information Return.
OMB Number: 1545-0196.
Form Number: 5227.
Abstract: Form 5227 is used to report the financial activities of a
split-interest trust described in Internal Revenue Code section
4947(a)(2), and to determine whether the trust is treated as a private
foundation and is subject to the excise taxes under Chapter 42 of the
Code.
Current Actions: There are no changes being made to the form since
2019 revision; however, there are changes and adjustments made to the
burden estimates based on the most recent filing data.
Type of Review: Revision of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Responses: 199,900.
Estimated Time per Respondent: 45 hr., 24 min.
Estimated Total Annual Burden Hours: 9,076,744.
[[Page 6263]]
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: January 28, 2020.
Philippe Thomas,
IRS Supervisory Tax Analyst.
[FR Doc. 2020-02079 Filed 2-3-20; 8:45 am]
BILLING CODE 4830-01-P