[Federal Register Volume 87, Number 20 (Monday, January 31, 2022)]
[Notices]
[Pages 4998-4999]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-01879]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Reporting Requirements 
for Widely Held Fixed Investment Trusts

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,

[[Page 4999]]

invites the general public and other Federal agencies to take this 
opportunity to comment on continuing information collections, as 
required by the Paperwork Reduction Act of 1995. The IRS is soliciting 
comments concerning reporting requirements for widely held fixed 
investment trusts.

DATES: Written comments should be received on or before April 1, 2022 
to be assured of consideration.

ADDRESSES: Direct all written comments to Andres Garcia, 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 should be directed to Kerry Dennis at (202) 317-
5751, or at Internal Revenue Service, Room 6526, 1111 Constitution 
Avenue NW, Washington, DC 20224, or through the internet, at 
[email protected].

SUPPLEMENTARY INFORMATION:
    Title: Reporting Requirements for Widely Held Fixed Investment 
Trusts.
    OMB Number: 1545-1540.
    Regulation Project Number: TD 9308.
    Abstract: Under regulation section 1.671-5, the trustee or the 
middleman who holds an interest in a widely held fixed investment trust 
for an investor will be required to provide a Form 1099 to the IRS and 
a tax information statement to the investor. The trust is also required 
to provide more detailed tax information to middlemen and certain other 
persons, upon request.
    Current Actions: There is no change to the regulation or burden at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 1,200.
    Estimated Time per Respondent: 2 hours.
    Estimated Total Annual Burden Hours: 2,400 hours.
    The following paragraph applies to all 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 if 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 25, 2022.
Kerry L. Dennis,
Tax Analyst.
[FR Doc. 2022-01879 Filed 1-28-22; 8:45 am]
BILLING CODE 4830-01-P