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:
1545-2116
ICR Reference No:
202306-1545-002
Status:
Active
Previous ICR Reference No:
200804-1545-010
Agency/Subagency:
TREAS/IRS
Agency Tracking No:
Title:
TD-9996, Relief Provisions Respecting Timely Allocation of GST Exemption and Certain GST Elections
Type of Information Collection:
New collection (Request for a new OMB Control Number)
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
07/01/2024
Retrieve Notice of Action (NOA)
Date Received in OIRA:
05/07/2024
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
07/31/2027
36 Months From Approved
Responses
50
0
0
Time Burden (Hours)
1,000
0
0
Cost Burden (Dollars)
1,000,000
0
0
Abstract:
The final rule describes the circumstances and procedures under which an extension of time will be granted under section 2642(g)(1) to allocate generation-skipping transfer tax exemption, defined in section 2631(a), and to make an election under sections 2632(b)(3), 2632(c)(5)(A)(i), and 2632(c)(5)(A)(ii). The number of respondents was updated from 900 to 50 (decrease of 850 respondents) with a total burden hours of 1,000 hours (decrease of 800 hours).
Authorizing Statute(s):
US Code:
26 USC 2642(g)
Name of Law: Relief Provisions
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
1545-BH63
Final or interim final rulemaking
89 FR 37116
05/06/2024
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
TD 9996, Regulations under section 2642(g)
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
50
0
0
50
0
0
Annual Time Burden (Hours)
1,000
0
0
1,000
0
0
Annual Cost Burden (Dollars)
1,000,000
0
0
1,000,000
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 burden estimates have been reevaluated after receiving comments from taxpayers and practitioners that the original burden estimates that were listed on the NPRM were underestimated. We feel that the current burden estimates more carefully approximate the actual burden to taxpayers and their practitioners. The estimated number of respondents/responses decreased by 850 (900 to 50). The estimated time to prepare the private letter ruling request and the accompanying affidavits increased by 18 hours (from 2 hours to 120 hours, for a total overall burden of 1,000 hours (1800 hours - 800 hours).
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.
No
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)?
Yes
Is this ICR related to the Pandemic Response?
No
Agency Contact:
Mayer Samuels 202 317-6859 mayer.r.samuels@irscounsel.treas.gov
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:
05/07/2024
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