OMB.report

Federal forms, ICRs, and supporting documents

Information Collection Request

Denial of interest deduction on certain obligations to foreign persons

ICR 201612-1545-007 · OMB 1545-1132 · Historical Active

Forms and Documents
DocumentTypeStatusAvailability
Supporting Statement.doc Supporting Statement A Uploaded 2016-12-08 Available
IC Document Collections
IC IDCollectionTypeStatusForm
17856 ?1.163-5 Denial of interest deduction on certain obligations issued after December 31, 1982, unless issued in registered form. Modified
ICR Details
1545-1132 201612-1545-007
Historical Active 201308-1545-015
TREAS/IRS
Denial of interest deduction on certain obligations to foreign persons
Revision of a currently approved collection   No
Regular
Approved without change 03/03/2017
Retrieve Notice of Action (NOA) 12/16/2016
  Inventory as of this Action Requested Previously Approved
03/31/2020 36 Months From Approved 03/31/2017
5,000 0 5,000
867 0 850
0 0 0
The Internal Revenue Service needs the information in order to ensure that purchasers of bearer obligations are not U.S. persons (other than those permitted to hold obligations under section 165(j) and to ensure that U.S. persons holding bearer obligations properly report income and gain on such obligations.
US Code: 26 USC 165(j) Name of Law: Denial of deduction for losses on certain obligations not in registered form
   US Code: 26 USC 1287(a) Name of Law: Denial of capital gain treatment for gains on certain obligations not in registered form
   US Code: 26 USC 163(f) Name of Law: Denial of deduction for interest on certain obligations not in registered form
   US Code: 26 USC 6103 Name of Law: Confidentiality and Disclosure of Returns and Return Information
  
None
Not associated with rulemaking
  81 FR 60407 09/01/2016
81 FR 90921 12/15/2016
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 5,000 5,000 0 0 0 0
Annual Time Burden (Hours) 867 850 0 0 17 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
There is no change in the paperwork burden previously approved by OMB. However, we are making this submission to update burden estimates previously unaccounted for under section 1.163-5(c)(2)(i)(D). The correction of this information will result in an additional 17 hours of burden for this approval number.
$0
No
No
No
No
No
Uncollected
Carl Cooper 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.
12/16/2016