View Information Collection Request (ICR) Package

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View ICR - OIRA Conclusion

OMB Control No: 1545-1668	ICR Reference No: 201709-1545-009
Status: Historical Active	Previous ICR Reference No: 201612-1545-002
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Return of U.S. Persons With Respect to Certain Foreign Partnerships
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/21/2017
	Date Received in OIRA: 10/25/2017
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2020	36 Months From Approved	03/31/2020
Responses	32,450	0	31,450
Time Burden (Hours)	254,084	0	245,074
Cost Burden (Dollars)	0	0	0

Authorizing Statute(s): US Code: 26 USC 6038 Name of Law: Information reporting with respect to certain foreign
   US Code: 26 USC 6103 Name of Law: Confidentiality and disclosure of returns and return information
   US Code: 26 USC 721C Name of Law: Nonrecognition of gain or loss on contribution
   US Code: 26 USC 6038B Name of Law: Notice of certain transfers to foreign persons
   US Code: 26 USC 6046A Name of Law: Returns as to interests in foreign partnerships

Citations for New Statutory Requirements: None

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	32,450	31,450	1,000
Annual Time Burden (Hours)	254,084	245,074	9,010
Annual Cost Burden (Dollars)	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The Form 8838-P is being added to this collection due to the fact it can only be filed as an attachment to the Form 8865 Schedule O. On the Form 8865 Schedule O line 1a states “Is the partnership a section 721(c) partnership (as defined in Regulation section 1.72(c)-1T(b)(14)? 1b states “If “Yes” was the gain deferral method applied to avoid the recognition of gain upon the contribution of property? If filer’s check” Yes” they are required to file, the Form 8838-P. Based upon the correlation of the two forms we are adding this form to the existing collection 1545-1668. Changes were made to the burden previously approved to update the estimated number of responses based upon adding the new Form 8839-P. The annual number of responses requested is 32,450 an increase of (1,000) from the previously approved 31,450. The annual time burden is 254,084 an increase of (9,010) from the previously approved 245,074.

Annual Cost to Federal Government: $503

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination. Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination. Yes

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

Agency Contact: Ronald Gootzeit 202 622-3860

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