Federal Register / Vol. 62, No. 8 / Monday, January 13, 1997 / Notices 1809

Internal Revenue Service

Proposed Collection; Comment

Request for Notice 97–6

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 Notice

97–6, Savings Incentive Match Plan for

Employees of Small Employers (SIMPLE

Plan).

DATES: Written comments should be

received on or before March 14, 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 information collection

should be directed to Carol Savage,

(202) 622–3945, Internal Revenue

Service, Room 5569, 1111 Constitution

Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Savings Incentive Match Plan

for Employees of Small Employers

(SIMPLE Plan).

OMB Number: 1545–1502.

Notice Number: Notice 97–6.

Abstract: This notice provides

guidance for employers and trustees

regarding how they can comply with the

requirements of Internal Revenue Code

section 408(p) in establishing and

maintaining a SIMPLE Plan, including

information regarding the notification

and reporting requirements under Code

section 408.

Current Actions: There are no changes

being made to the notice at this time.

Type of Review: Extension of a

currently approved collection.

Affected Public: Individuals or

households, business or other for-profit

organizations, and not-for-profit

institutions.

Estimated Number of Respondents:

300,000.

Estimated Time Per Respondent: 2

hours, 34 minutes.

Estimated Total Annual Burden

Hours: 769,000.

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: January 8, 1997

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 97–772 Filed 1–10–97; 8:45 am]

BILLING CODE 4830–01–U

[INTL–656–87]

Proposed Collection; Comment

Request for Regulation Project

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 an

existing final regulation, INTL–656–87

(TD 8701), Treatment of Shareholders of

Certain Passive Foreign Investment

Companies (§§ 1.1291–9(d) and 1.1291–

10(d)).

DATES: Written comments should be

received on or before March 14, 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 information collection

should be directed to Carol Savage,

(202) 622–3945, Internal Revenue

Service, Room 5569, 1111 Constitution

Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Treatment of Shareholders of

Certain Passive Foreign Investment

Companies.

OMB Number: 1545–1507.

Regulation Project Number: INTL–

656–87.

Abstract: The reporting requirements

affect United States persons that are

direct and indirect shareholders of

passive foreign investment companies

(PFICs). The requirements enable the

Internal Revenue Service to identify

PFICs, United States shareholders, and

transactions subject to PFIC taxation

and verify income inclusions, excess

distributions, and deferred tax amounts.

Current Actions: There is no change to

this existing regulation.

Type of Review: Extension of OMB

approval.

Affected Public: Individuals or

households, business or other for-profit

organizations, and not-for-profit

institutions.

Estimated Number of Respondents:

131,250.

Estimated Time Per Respondent: 46

minutes.

Estimated Total Annual Burden

Hours: 100,000.

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.