View Information Collection Request (ICR) Package

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View ICR - OIRA Conclusion

OMB Control No: 1545-2241	ICR Reference No: 201709-1545-015
Status: Historical Active	Previous ICR Reference No: 201506-1545-004
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Offshore Voluntary Disclosure Program (OVDP)
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Emergency	Approval Requested By: 10/05/2017
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/18/2017
Retrieve Notice of Action (NOA)	Date Received in OIRA: 10/05/2017
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2018	6 Months From Approved	08/31/2019
Responses	474,569	0	474,000
Time Burden (Hours)	758,138	0	757,000
Cost Burden (Dollars)	0	0	0

Abstract: The information provided on the submission form will be used to assist in timely determination of acceptance into the Voluntary Disclosure Program. Taxpayers with undisclosed foreign accounts or entities should make a voluntary disclosure because it enables them to become compliant, avoid substantial civil penalties and generally eliminate the risk of criminal prosecution, including penalty sections 6651, 6035, 6038, 6046, 6048, 6651, and 6662.

Emergency Justfication: New Form 15023 is part of the Decline and Withdrawal Campaign #208, related to Offshore Voluntary Disclosure Program (OVDI) taxpayers. Failure to collect this information will prevent the IRS from determining accurately the risk of noncompliance and causing public harm by a misallocation of resources for determining compliance. Taxpayers are required to complete and submit this form with their response to Letter 5935. Information in this form will allow the Internal Revenue Service (IRS) to associate any responses accordingly. The purpose of the soft letter is to gather additional, time sensitive information to determine if the risk of noncompliance warrants examination. Significant delays in gathering supplemental information can lead to imminent and barred statutes, hindering IRS from meeting its mission. These associated tax returns are not under examination and preemptively soliciting a statute extensions is not warranted. In order to maintain the integrity of the OVDP program and campaign the soft letter must be sent in a timely manner. IRS cannot issue soft letters without the associated cover letter which has been converted into a form for consistency purposes.

Authorizing Statute(s): US Code: 26 USC 6048 Name of Law: Information with respect to certain foreign trusts
   US Code: 26 USC 6046 Name of Law: Returns as to organization or reorganization of foreigncorporations and as to acquisitions of their
   US Code: 26 USC 6651 Name of Law: Failure to file tax return or to pay tax
   US Code: 26 USC 6662 Name of Law: Imposition of accuracy-related penalty on underpayments
   US Code: 26 USC 6038 Name of Law: Information reporting with respect to certain foreigncorporations and partnerships

Citations for New Statutory Requirements: None

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	474,569	474,000	569
Annual Time Burden (Hours)	758,138	757,000	1,138
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: New Form 15023 is part of Campaign #208, related to OVDP taxpayers. Taxpayers are required to complete and submit this form with their response to Letter 5935. Information in this form will allow the Internal Revenue Service (IRS) to associate any responses accordingly. The creation of the Offshore Compliance Status Response form will create an increase in the estimated number of responses by 569/year (from 474,000 to 474,569) and an estimated annual time burden increase of 1,138 hours/year (from 757,000 to 758,138) .

Annual Cost to Federal Government: $0

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. No

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: Daria DiMatteo-Carr 267 466-2019 daria.dimatteo-carr@irs.gov