OMB.report

Federal forms, ICRs, and supporting documents

Information Collection Request

T.D. 8618 - Definition of a Controlled Foreign Corporation, Foreign Base Company Income, and Foreign Personal Holding Company Income of a Controlled Foreign Corporation (INTL-362-88)

ICR 201611-1545-005 · OMB 1545-1068 · Historical Active

Forms and Documents
DocumentTypeStatusAvailability
1545-1068_SS.doc Supporting Statement A Uploaded 2016-12-20 Available
IC Document Collections
IC IDCollectionTypeStatusForm
17770 INTL-362-88 (T.D. 8618)(Final) Definition of a Controlled Foreign Corporation, Foreign Base Company Income, and Foreign Personal Holding Company Income of a Controlled Foreign Corporation Unchanged
ICR Details
1545-1068 201611-1545-005
Historical Active 201309-1545-010
TREAS/IRS
T.D. 8618 - Definition of a Controlled Foreign Corporation, Foreign Base Company Income, and Foreign Personal Holding Company Income of a Controlled Foreign Corporation (INTL-362-88)
Extension without change of a currently approved collection   No
Regular
Approved without change 03/02/2017
Retrieve Notice of Action (NOA) 12/27/2016
  Inventory as of this Action Requested Previously Approved
03/31/2020 36 Months From Approved 03/31/2017
50,500 0 50,500
50,417 0 50,417
0 0 0
The election and recordkeeping requirements are necessary to exclude certain high-taxed or active business income from subpart F income or to include certain income in the appropriate category of subpart F income. The recordkeeping and election procedures allow the U.S. shareholders and the IRS to know the amount of the controlled foreign corporation's subpart F income.
US Code: 26 USC 957 Name of Law: Controlled foreign corporations; United States persons
   US Code: 26 USC 954 Name of Law: Foreign base company income
  
None
Not associated with rulemaking
  81 FR 66123 09/26/2016
81 FR 95309 12/27/2016
No
  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 50,500 50,500 0 0 0 0
Annual Time Burden (Hours) 50,417 50,417 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
$0
No
No
No
No
No
Uncollected
Phyllis Marcus 202 622-3840
  No
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.
12/27/2016