FORM 1120-FSC IS FILED BY FOREIGN CORPORATIONS THAT HAVE ELECTED TO BE FOREIGN SALES CORPORATIONS OR SMALL FSC'S. THE FSC USES FORM 1120-FSC TO REPORT INCOME AND EXPENSES AND TO FIGURE ITS TAX LIABILITY. IRS US FORM 1120-FSC AND SCHEDULE P (FORM 1120-FSC) TO DETERMINE WHETHER THE FSC HAS CORRECTLY REPORTED ITS INCOME AND EXPENSES AND FIGURED ITS TAX LIABILITY CORRECTLY.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.