7090 Federal Register / Vol. 62, No. 31 / Friday, February 14, 1997 / Notices

information collection requirements

subject to the Paperwork Reduction Act

of 1995, Public Law 104–13 (44 U.S.C.

3506(c)(2)(A)). Section 596.601 requires

persons engaging in transactions subject

to the Regulations to retain full and

accurate records of such transactions for

at least two years. Section 596.602

authorizes OFAC to require persons

entering into transactions subject to the

Regulations to report on such

transactions as requested. Section

596.603d requires financial institutions

to report to OFAC any time they reject

an incoming transaction that is subject

to the Regulations. Section 575.801

provides for the issuance of general

licenses for certain transactions which

are subject to the prohibitions of the

Regulations, and provides for the

issuance of specific licenses in unique

or limited situations.

Current Actions: Extension.

Type of Review: Extension.

Affected Public: Businesses and other

for-profit institutions/banking

institutions/individuals.

Estimated Number of Respondents:

100 respondents.

Estimated Time of Respondent: 1 hour

to process.

Estimated Annual Burden Hours: 100

hours.

Request for Comments

Comments submitted in response to

this notice will be summarized and/or

included in the request for OMB

approval. All comments will become a

matter of public record. Comments are

invited on: (a) Whether the collection of

information is necessary for the proper

performance of the agency’s functions,

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; and

(d) ways to minimize the burden of the

collection of information on

respondents, including through the use

of automated collection techniques 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.

Dated: February 3, 1997.

William B. Hoffman,

Chief Counsel, Office of Foreign Assets

Control, U.S. Department of the Treasury.

[FR Doc. 97–3762 Filed 2–13–97; 8:45 am]

BILLING CODE 4810–25–M

Internal Revenue Service

Proposed Collection; Comment

Request for Form 5472

AGENCY: Internal Revenue Service (IRS),

Treasury.

ACTION: Notice and request for

comments.

SUMMARY: The Department of the

Treasury, 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 proposed

and/or continuing information

collections, as required by the

Paperwork Reduction Act of 1995,

Public Law 104–13 (44 U.S.C.

3506(c)(2)(A)). Currently, the IRS is

soliciting comments concerning Form

5472, Information Return of a 25%

Foreign-Owned U.S. Corporation or a

Foreign Corporation Engaged in a U.S.

Trade or Business.

DATES: Written comments should be

received on or before April 15, 1997 to

be assured of consideration.

ADDRESSES: Direct all written comments

to Garrick R. Shear, Internal Revenue

Service, room 5571, 1111 Constitution

Avenue NW., Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or

copies of the form and instructions

should be directed to Martha R. Brinson,

(202) 622–3869, Internal Revenue

Service, room 5571, 1111 Constitution

Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Information Return of a 25%

Foreign-Owned U.S. Corporation or a

Foreign Corporation Engaged in a U.S.

Trade or Business.

OMB Number: 1545–0805.

Form Number: 5472.

Abstract: Form 5472 is used to report

information about transactions between

a U.S. corporation that is 25% foreign

owned or a foreign corporation that is

engaged in a U.S. trade or business and

related foreign parties. The IRS uses

Form 5472 to determine if inventory or

other costs deducted by the U.S. or

foreign corporation are correct.

Current Actions: There are no changes

being made to the form at this time.

Type of Review: Extension of a

currently approved collection.

Affected Public: Business or other forprofit organizations.

Estimated Number of Respondents:

75,000.

Estimated Time Per Respondent: 20

hr., 57 min.

Estimated Total Annual Burden

Hours: 1,571,250.

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. All comments will become a

matter 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 shall have 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 respondents, including

through the use of automated collection

techniques 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: February 5, 1997.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 97–3813 Filed 2–13–97; 8:45 am]

BILLING CODE 4830–01–U

Proposed Collection; Comment

Request for Form 56

AGENCY: Internal Revenue Service (IRS),

Treasury.

ACTION: Notice and request for

comments.

SUMMARY: The Department of the

Treasury, 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 proposed

and/or continuing information

collections, as required by the

Paperwork Reduction Act of 1995,

Public Law 104–13 (44 U.S.C.

3506(c)(2)(A)). Currently, the IRS is

soliciting comments concerning Form

56, Notice Concerning Fiduciary

Relationship.
Federal Register / Vol. 62, No. 31 / Friday, February 14, 1997 / Notices 7091

DATES: Written comments should be

received on or before April 15, 1997 to

be assured of consideration.

ADDRESSES: Direct all written comments

to Garrick R. Shear, Internal Revenue

Service, room 5571, 1111 Constitution

Avenue NW., Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or

copies of the form and instructions

should be directed to Martha R. Brinson,

(202) 622–3869, Internal Revenue

Service, room 5571, 1111 Constitution

Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Notice Concerning Fiduciary

Relationship.

OMB Number: 1545–0013.

Form Number: 56.

Abstract: Form 56 is used to inform

the IRS that a person is acting for

another person in a fiduciary capacity

so that the IRS may mail tax notices to

the fiduciary concerning the person for

whom he/she is acting. The data is used

to ensure that the fiduciary relationship

is established or terminated and to mail

or discontinue mailing designated tax

notices to the fiduciary.

Current Actions: There are no changes

being made to the form at this time.

Type of Review: Extension of a

currently approved collection.

Affected Public: Business or other forprofit organizations and individuals or

households.

Estimated Number of Respondents:

25,000.

Estimated Time Per Respondent: 11

hr., 43 min.

Estimated Total Annual Burden

Hours: 292,800.

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. All comments will become a

matter 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 shall have 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 respondents, including

through the use of automated collection

techniques 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: February 5, 1997.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 97–3814 Filed 2–13–97; 8:45 am]

BILLING CODE 4830–01–U

Proposed Collection; Comment

Request for Form 6765

AGENCY: Internal Revenue Service (IRS),

Treasury.

ACTION: Notice and request for

comments.

SUMMARY: The Department of the

Treasury, 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 proposed

and/or continuing information

collections, as required by the

Paperwork Reduction Act of 1995,

Public Law 104–13 (44 U.S.C.

3506(c)(2)(A)). Currently, the IRS is

soliciting comments concerning Form

6765, Credit for Increasing Research

Activities.

DATES: Written comments should be

received on or before April 15, 1997 to

be assured of consideration.

ADDRESSES: Direct all written comments

to Garrick R. Shear, Internal Revenue

Service, room 5571, 1111 Constitution

Avenue NW., Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or

copies of the form and instructions

should be directed to Martha R. Brinson,

(202) 622–3869, Internal Revenue

Service, room 5571, 1111 Constitution

Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Credit for Increasing Research

Activities.

OMB Number: 1545–0619.

Form Number: 6765.

Abstract: IRC section 38 allows a

credit against income tax (Determined

under IRC section 41) for an increase in

research activities in a trade or business.

Form 6765 is used by businesses and

individuals engaged in a trade or

business to figure and report the credit.

The data is used to verify that the credit

claimed is correct.

Current Actions: There are no changes

being made to the form at this time.

Type of Review: Extension of a

currently approved collection.

Affected Public: Business or other forprofit organizations and individuals.

Estimated Number of Respondents:

13,000.

Estimated Time Per Respondent: 18

hr., 37 min.

Estimated Total Annual Burden

Hours: 241,930.

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. All comments will become a

matter 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 shall have 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 respondents, including

through the use of automated collection

techniques 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: February 5, 1997.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 97–3815 Filed 2–13–97; 8:45 am]

BILLING CODE 4830–01–U

Privacy Act of 1974, as amended;

System of Records

AGENCY: Internal Revenue Service,

Treasury.