View Information Collection Request (ICR) Package
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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
1545-0902
ICR Reference No:
202210-1545-004
Status:
Active
Previous ICR Reference No:
202011-1545-015
Agency/Subagency:
TREAS/IRS
Agency Tracking No:
Ready for Treasury
Title:
Form 8288, U.S. Withholding Tax Return for Certain Dispositions by Foreign Persons, Form 8288-A, Statement of Withholding on Certain Dispositions by Foreign Persons, Form 8288-C, Statement of Withhold
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:
02/13/2023
Retrieve Notice of Action (NOA)
Date Received in OIRA:
11/30/2022
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
02/28/2026
36 Months From Approved
02/28/2023
Responses
237,500
0
237,500
Time Burden (Hours)
2,334,750
0
1,760,575
Cost Burden (Dollars)
0
0
0
Abstract:
Form 8288 is used to report and transmit amounts withheld on certain dispositions and distributions that are subject to sections 1445 and 1446(f)(1). It is also used to report and transmit amounts withheld under section 1446(f)(4) or to claim a credit or refund for amounts withheld under section 1446(f)(4) for transfers occurring on or after January 1, 2023. Form 8288-A is used by the IRS to validate the withholding, and a copy is returned to the transferor for his or her use in filing a tax return. The information provided in § 1.1446(f)–3(d) by the partnership to the IRS will be used by the partnership to report and pay any tax under section 1446(f)(4) and § 1.1446(f)–3 and will be provided on Form 8288–C.
Authorizing Statute(s):
US Code:
26 USC 1445
Name of Law: Withholding of tax on dispositions of United States real property interests
Citations for New Statutory Requirements:
US Code: 26 USC 1446f) Name of Law: Special rules for withholding on dispositions of partnership interests
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
87 FR 54596
09/06/2022
30-day Notice:
Federal Register Citation:
Citation Date:
87 FR 72590
11/25/2022
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
3
IC Title
Form No.
Form Name
Form 8288, U.S. Withholding Tax Return for Certain Dispositions by Foreign Persons
8288
U.S. Withholding Tax Return for Certain Dispositions by Foreign Persons
Form 8288-A - Statement of Withholding on Certain Dispositions by Foreign Persons
8288-A
Statement of Withholding on Certain Dispositions by Foreign Persons
Statement of Withholding Under Section 1446(f)(4) on Dispositions by Foreign Persons of Partnership Interests
8288-C
Statement of Withholding Under Section 1446(f)(4) on Dispositions by Foreign Persons of Partnership Interests
ICR Summary of Burden
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
237,500
237,500
0
0
0
0
Annual Time Burden (Hours)
2,334,750
1,760,575
0
330,575
243,600
0
Annual Cost Burden (Dollars)
0
0
0
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:
Changes to Form 8288: (1) The form title has been changed to “U.S. Withholding Tax Return for Certain Dispositions by Foreign Persons”. (2) The “entity” information (Withholding Agent Information) was separated into Parts I and II to its own sections, to avoid processing and repetition issues. (3) New Line 4 (Withholding Agent Information) was added to the entity section. (4) We added 10(b) to allow the large trust to identify that the withholding being reported is a result of the large trust election previously made. (5) New Parts II, IV, and V were added for reporting witholding under section 1446(f)(1) and 1446(f)(4), due to the final regulation in TD 9226, which has an effective date of 1/1/23, per Notice 2021-51. Changes to Form 8288-A: (1) The form title has been changed to “Statement of Withholding on Certain Dispositions by Foreign Persons”. (2) New box 5 was added to (identify the withholding under the specific section). (3) A new checkbox was added to box 6 for “Partnerships”. Changes to Form 8288-C: (1) Minor changes were made to the field names. This has not resulted in a burden change. IRS has updated the time per response based on better estimates of the time to complete the form. This has increased the burden by 243,600 hours due to better Agency estimates. The above changes will result in a total program change increase of 330,575 hours and an adjustment of 243,600 hours, due to better filing figures.
Annual Cost to Federal Government:
$72,144
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?
No
Agency Contact:
Carmen Garcia-Salgado 202 317-5762
Common Form ICR:
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:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(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;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
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.
Certification Date:
11/30/2022
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