81284 Federal Register / Vol. 85, No. 241 / Tuesday, December 15, 2020 / Notices 

Dated: November 9, 2020. 

Andrea M. Gacki, 

Director, Office of Foreign Assets Control, 

U.S. Department of the Treasury. 

[FR Doc. 2020–25183 Filed 12–14–20; 8:45 am] 

BILLING CODE 4810–AL–C 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Regulation Project 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Internal Revenue Service 

(IRS), as part of its continuing effort to 

reduce paperwork and respondent 

burden, invites the general public and 

other Federal agencies to take this 

opportunity to comment on information 

collections, as required by the 

Paperwork Reduction Act of 1995. The 

IRS is soliciting comments concerning 

Sale of Residence From Qualified 

Personal Residence Trust. 

DATES: Written comments should be 

received on or before February 16, 2021 

to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Kinna Brewington, Internal Revenue 

Service, Room 6526, 1111 Constitution 

Avenue NW, Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the regulation should be 

directed to Martha R. Brinson, at 

(202)317–5753, or at Internal Revenue 

Service, Room 6526, 1111 Constitution 

Avenue NW, Washington, DC 20224, or 

through the internet at 

Martha.R.Brinson@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Sale of Residence From 

Qualified Personal Residence Trust. 

OMB Number: 1545–1485. 

Regulation Project Number: TD 8743. 

Abstract: Internal Revenue Code 

section 2702(a)(3) provides special 

favorable valuation rules for valuing the 

gift of a personal residence trust. 

Regulation section 25.2702–5(a)(2) 

provides that if the trust fails to comply 

with the requirements contained in the 

regulations, the trust will be treated as 

complying if a statement is attached to 

the gift tax return reporting the gift 

stating that a proceeding has been 

commenced to reform the instrument to 

comply with the requirements of the 

regulations. 

Current Actions: There is no change 

in the paperwork burden previously 

approved by OMB. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Individuals or 

households. 

Estimated Number of Respondents: 

200. 

Estimated Time per Respondent: 3 

hours, 7 minutes. 

Estimated Total Annual Burden 

Hours: 625. 


EN15DE20.018</GPH>
Federal Register / Vol. 85, No. 241 / Tuesday, December 15, 2020 / Notices 81285 

The following paragraph applies to all 

of the collections of information covered 

by this notice: 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless the collection of information 

displays a valid OMB control number. 

Books or records relating to a collection 

of information must be retained as long 

as their contents may become material 

in the administration of any internal 

revenue law. Generally, tax returns and 

tax return information are confidential, 

as required by 26 U.S.C. 6103. 

Request for Comments: Comments 

submitted in response to this notice will 

be summarized and/or included in the 

request for OMB approval. Comments 

will be of public record. Comments are 

invited on: (a) Whether the collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information has practical utility; (b) the 

accuracy of the agency’s estimate of the 

burden of the collection of information; 

(c) ways to enhance the quality, utility, 

and clarity of the information to be 

collected; (d) ways to minimize the 

burden of the collection of information 

on or other forms of information 

technology; and (e) estimates of capital 

or start-up costs and costs of operation, 

maintenance, and purchase of services 

to provide information. 

Approved: December 7, 2020. 

Martha R. Brinson, 

Tax Analyst. 

[FR Doc. 2020–27555 Filed 12–14–20; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Forms 5498–QA & 1099– 

QA 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Internal Revenue Service 

(IRS), as part of its continuing effort to 

reduce paperwork and respondent 

burden, invites the general public and 

other Federal agencies to take this 

opportunity to comment on information 

collections, as required by the 

Paperwork Reduction Act of 1995. The 

IRS is soliciting comments concerning 

ABLE Account Contribution 

Information; Distributions From ABLE 

Accounts. 

DATES: Written comments should be 

received on or before February 16, 2021 

to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Kinna Brewington, Internal Revenue 

Service, Room 6526, 1111 Constitution 

Avenue NW, Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the forms and instructions 

should be directed to Martha R. Brinson, 

at (202) 317–5753, or at Internal 

Revenue Service, Room 6526, 1111 

Constitution Avenue NW, Washington, 

DC 20224, or through the internet at 

Martha.R.Brinson@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: ABLE Account Contribution 

Information; Distributions From ABLE 

Accounts. 

OMB Number: 1545–2262. 

Form Numbers: 5498–QA; 1099–QA. 

Abstract: Public Law 113–295, ABLE 

Act of 2014, granted States, agencies 

and/or their instrumentalities the 

authority to allow for the establishment 

of special accounts that allow 

individuals and families to set aside 

money for the purpose of supporting 

individuals with disabilities to maintain 

health, independence, and quality of 

life, without impacting eligibility for 

other social service financial assistance 

programs such as Medicaid. Form 5498– 

QA is used to report to the beneficiaries 

the contributions, rollovers, and 

program to program transfers associated 

with these accounts. Form 1099–QA 

allows these individuals and families to 

draw from the special account. 

Current Actions: There are no changes 

being made to the forms at this time. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Individuals or 

households. 

Form 5498–QA 

Estimated Number of Responses: 

10,000. 

Estimated Time per Respondent: 11 

min. 

Estimated Total Annual Burden 

Hours: 1,900. 

Form 1099–QA 

Estimated Number of Responses: 

10,000. 

Estimated Time per Respondent: 10 

min. 

Estimated Total Annual Burden 

Hours: 1,700. 

The following paragraph applies to all 

of the collections of information covered 

by this notice: 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless the collection of information 

displays a valid OMB control number. 

Books or records relating to a collection 

of information must be retained as long 

as their contents may become material 

in the administration of any internal 

revenue law. Generally, tax returns and 

tax return information are confidential, 

as required by 26 U.S.C. 6103. 

Request for Comments: Comments 

submitted in response to this notice will 

be summarized and/or included in the 

request for OMB approval. Comments 

will be of public record. Comments are 

invited on: (a) Whether the collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information has practical utility; (b) the 

accuracy of the agency’s estimate of the 

burden of the collection of information; 

(c) ways to enhance the quality, utility, 

and clarity of the information to be 

collected; (d) ways to minimize the 

burden of the collection of information 

on or other forms of information 

technology; and (e) estimates of capital 

or start-up costs and costs of operation, 

maintenance, and purchase of services 

to provide information. 

Approved: December 10, 2020. 

Martha R. Brinson, 

Tax Analyst. 

[FR Doc. 2020–27553 Filed 12–14–20; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Regulation Project 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Internal Revenue Service 

(IRS), as part of its continuing effort to 

reduce paperwork and respondent 

burden, invites the general public and 

other Federal agencies to take this 

opportunity to comment on information 

collections, as required by the 

Paperwork Reduction Act of 1995. The 

IRS is soliciting comments concerning 

carryover of passive activity losses and 

credits and at-risk losses to bankruptcy 

estates of individuals. 

DATES: Written comments should be 

received on or before February 16, 2021. 

to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Kinna Brewington, Internal Revenue 

Service, Room 6526, 1111 Constitution 

Avenue NW, Washington, DC 20224.