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###### Department of the Treasury

###### Internal Revenue Service

# 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 guidance regarding the treatment of certain contingent payment debt instructions with one or more payments that are denominated in, or determined by reference to, a nonfunctional currency.

# DATES:

Written comments should be received on or before May 18, 2015 to be assured of consideration.

# ADDRESSES:

Direct all written comments to Christie Preston, Internal Revenue Service, room 6129, 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 Sara Covington, at Internal Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at                         *Sara.L.Covington@irs.gov.*

# SUPPLEMENTARY INFORMATION:

*Title:*                     Guidance Regarding the Treatment of Certain Contingent Payment Debt Instructions with one or more Payments that are Denominated in, or Determined by Reference to, a Nonfunctional Currency.                

*OMB Number:*                     1545-1831.                          ( print page 13953)    

*Form Number:*                     REG-106486-98 (TD 9157—Final).                

*Abstract:*                     This document contains final regulations regarding the treatment of contingent payment debt instruments for which one or more payments are denominated in, or determined by reference to, a currency other than the taxpayer's functional currency. These regulations are necessary because current regulations do not provide guidance concerning the tax treatment of such instruments. The regulations affect issuers and holders of such instruments.                

*Current Actions:*                     There is no change in the paperwork burden previously approved by OMB. This form is being submitted for renewal purposes only.                

*Type of Review:*                     Extension of a currently approved collection.                

*Affected Public:*                     Businesses and other for-profit organizations, Farms.                

*Estimated Number of Respondents:*                     100.                

*Estimated Time per Respondent:*                     1 hour.                

*Estimated Total Annual Burden Hours:*                     100.                

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: March 9, 2015.

Christie Preston,

IRS Reports Clearance Officer.

[FR Doc. 2015-06003 Filed 3-16-15; 8:45 am]

BILLING CODE 4830-01-P