38694 Federal Register / Vol. 63, No. 137 / Friday, July 17, 1998 / Notices

Learning about the law or the form—7

minutes

Preparing the form—17 minutes

Copying, assembling, and sending the

form to the IRS—14 minutes

Frequency of Response: Annually.

Estimated Total Reporting/

Recordkeeping Burden: 220,150 hours.

Clearance Officer: Garrick Shear (202)

622–3869, Internal Revenue Service,

Room 5571, 1111 Constitution Avenue,

NW., Washington, DC 20224.

OMB Reviewer: Alexander T. Hunt

(202) 395–7860, Office of Management

and Budget, Room 10226, New

Executive Office Building, Washington,

DC 20503.

Lois K. Holland,

Departmental Reports Management Officer.

[FR Doc. 98–19057 Filed 7–16–98; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF THE TREASURY

Submission to OMB for Review;

Comment Request

July 10, 1998.

The Department of Treasury has

submitted the following public

information collection requirement(s) to

OMB for review and clearance under the

Paperwork Reduction Act of 1995,

Public Law 104–13. Copies of the

submission(s) may be obtained by

calling the Treasury Bureau Clearance

Officer listed. Comments regarding this

information collection should be

addressed to the OMB reviewer listed

and to the Treasury Department

Clearance Officer, Department of the

Treasury, Room 2110, 1425 New York

Avenue, NW., Washington, DC 20220.

Dates: Written comments should be

received on or before August 17, 1998,

to be assured of consideration.

Internal Revenue Service (IRS)

OMB Number: 1545–0902.

Form Number: IRS Forms 8288 and

8288–-A.

Type of Review: Extension.

Title: U.S. Withholding Tax Return for

Dispositions by Foreign Persons of U.S.

Real Property Interests (8288); and

Statement of Withholding on

Dispositions by Foreign Persons of U.S.

Real Property Interests (8288–-A)

Description: Form 8288 is used by the

withholding agent to report and

transmit the withholding to IRS. Form

8288-A is used to validate the

withholding and to return a copy to the

transferor for his/her use in filing a tax

return.

Respondents: Individuals or

households, Business or other for-profit.

Estimated Number of Respondents/

Recordkeepers: 4,918.

Estimated Burden Hours Per

Respondent/Recordkeeper:

Form 8288 Form 8288–A

Recordkeeping ................................................................................................................................. 5 hr., 30 min ....................... 2 hr., 52 min.

Learning about the law or the form ................................................................................................. 4 hr., 40 min ....................... 12 min.

Preparing and sending the form to the IRS ..................................................................................... 4 hr., 58 min ....................... 15 min.

Frequency of Response: On occasion.

Estimated Total Reporting/

Recordkeeping Burden: 108,751 hours.

OMB Number: 1545–0904.

Regulation Project Number: INTL–45–

86 Final (TD 8125).

Type of Review: Extension.

3Title: Foreign Management and

Foreign Economic Processes

Requirements of a Foreign Sales

Corporation.

Description: The regulations provide

rules for complying with foreign

management and foreign economic

process requirements to enable Foreign

Sales Corporations to produce foreign

trading gross receipts and qualify for

reduced tax rates. Rules are included for

maintaining records to substantiate

compliance. Affected public is limited

to large corporations that export goods

or services.

Respondents: Business or other forprofit.

Estimated Number of Recordkeepers:

11,001.

Estimated Burden Hours Per

Recordkeeper: 2 hours.

Estimated Total Recordkeeping

Burden: 22,001 hours.

OMB Number: 1545–1043.

Notice Number: Notices 88–30 and

88–132.

Type of Review: Extension.

Title: Diesel Fuel and Aviation Fuel

Imposed at Wholesale Level (Notice 88–

30); and Diesel and Aviation Fuel Taxes

(Notice 88–132); Rules Effective 1/1/89.

Description: Producers of aviation fuel

must be registered by the IRS to sell the

fuel tax-free. Producers must also obtain

certifications from their tax-free buyers.

Respondents: Business or other forprofit, Not-for-profit institutions, Farms,

State, Local or Tribal Government.

Estimated Number of Respondents/

Recordkeepers: 3,500.

Estimated Burden Hours Per

Respondent/Recordkeeper: 1 hour, 6

minutes.

Frequency of Response: Quarterly.

Estimated Total Reporting/

Recordkeeping Burden: 3,850 hours.

Clearance Officer: Garrick Shear (202)

622–3869, Internal Revenue Service,

Room 5571, 1111 Constitution Avenue,

NW., Washington, DC 20224.

OMB Reviewer: Alexander T. Hunt

(202) 395–7860, Office of Management

and Budget, Room 10226, New

Executive Office Building, Washington,

DC 20503.

Lois K. Holland,

Departmental Reports Management Officer.

[FR Doc. 98–19058 Filed 7–16–98; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[INTL–79–91]

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–79–91

(TD 8573), Information Returns

Required of United States Persons With

Respect To Certain Foreign Corporations

(§§ 1.6035–1, 1.6038–2 and 1.6046–1).

DATES: Written comments should be

received on or before September 15,

1998 to be assured of consideration.

ADDRESSES: Direct all written comments

to Garrick R. Shear, Internal Revenue
Federal Register / Vol. 63, No. 137 / Friday, July 17, 1998 / Notices 38695

Service, room 5571, 1111 Constitution

Avenue NW., Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or

copies of the regulation should be

directed to Carol Savage, (202) 622–

3945, Internal Revenue Service, room

5569, 1111 Constitution Avenue NW.,

Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Information Returns Required of

United States Persons With Respect To

Certain Foreign Corporations. OMB Number: 1545–1317.

Regulation Project Number: INTL–79–

91.

Abstract: This regulation amends the

existing regulations under sections

6035, 6038, and 6046 of the Internal

Revenue Code. The regulation amends

and liberalizes certain requirements

regarding the format in which

information must be provided for

purposes of Form 5471, Information

Return of U.S. Persons With Respect to

Certain Foreign Corporations. The

regulation provides that financial

statement information must be

expressed in U.S. dollars translated

according to U.S. generally accepted

accounting principles and permits

functional currency reporting of certain

items.

Current Actions: There is no change to

this existing regulation. Type of Review: Extension of a

currently approved collection. Affected Public: Individuals and

business or other for-profit

organizations. The burden for the collection of

information is reflected in the burden

for Form 5471, Information Return of

U.S. Persons With Respect to Certain

Foreign Corporations. 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: July 10, 1998.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 98–19033 Filed 7–16–98; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[EE–43–92]

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, EE–43–92 (TD

8619), Direct Rollovers and 20-Percent

Withholding Upon Eligible Rollover

Distributions From Qualified Plans

(§§ 1.401(a)(31)-1, 1.402(c)-2, 1.402(f)-1,

1.403(b)-2, and 31.3405(c)-1).

DATES: Written comments should be

received on or before September 15,

1998 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 regulation should be

directed to Carol Savage, (202) 622–

3945, Internal Revenue Service, room

5569, 1111 Constitution Avenue NW.,

Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Direct Rollovers and 20-Percent

Withholding Upon Eligible Rollover

Distributions From Qualified Plans.

OMB Number: 1545–1341.

Regulation Project Number: EE–43–

92.

Abstract: This regulation implements

the provisions of the Unemployment

Compensation Amendments of 1992

(Pub. L. 102–318), which impose

mandatory 20 percent income tax

withholding upon the taxable portion of

certain distributions from a qualified

pension plan or a tax-sheltered annuity

that can be rolled over tax-free to

another eligible retirement plan unless

such amounts are transferred directly to

such other plan in a ‘‘direct rollover’’

transaction. These provisions also

require qualified pension plans and taxsheltered annuities to offer their

participants the option to elect to make

‘‘direct rollovers’’ of their distributions

and to provide distributees with a

written explanation of the tax laws

regarding their distributions and their

option to elect such a rollover.

Current Actions: There is no change to

this existing regulation.

Type of Review: Extension of a

currently approved collection.

Affected Public: Individuals, business

or other for-profit organizations, not-forprofit institutions, and Federal, state,

local or tribal governments.

Estimated Number of Respondents:

10,323,926.

Estimated Time Per Respondent: 13

minutes.

Estimated Total Annual Burden

Hours: 2,129,669.

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