9692 Federal Register / Vol. 74, No. 42 / Thursday, March 5, 2009 / Notices 

DEPARTMENT OF THE TREASURY 

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 May 4, 2009 to be 

assured of consideration. 

ADDRESSES: Direct all written comments 

to R. Joseph Durbala, 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 Carolyn N. Brown, 

at (202) 622–6688, Internal Revenue 

Service, room 6129, 1111 Constitution 

Avenue NW., Washington, DC 20224 or 

through the internet at 

Carolyn.N.Brown@irs.gov. 

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: Due to a 2007 

revision of Form 5472, a line item was 

added causing the burden to decrease to 

2,544,784. 

Type of Review: Revision of a 

currently approved collection. 

Affected Public: Business or other forprofit organizations. 

Estimated Number of Responses: 

103,784. 

Estimated Time Per Response: 24 hrs. 

31 min. 

Estimated Total Annual Burden 

Hours: 2,544,784. 

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 13, 2009. 

R. Joseph Durbala, 

IRS Reports Clearance Officer. 

[FR Doc. E9–4688 Filed 3–4–09; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

[REG–125071–06 (TD 9308)] 

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 a final 

Regulation 125071–06 (TD 9308), 

Reporting Requirements for Widely 

Held Fixed Investment Trusts 

(§ 1.671–5). 

DATES: Written comments should be 

received on or before May 4, 2009 to be 

assured of consideration. 

ADDRESSES: Direct all written comments 

to R. Joseph Durbala, Internal Revenue 

Service, room 6129, 1111 Constitution 

Avenue NW., Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the regulation should be 

directed to Carolyn N. Brown, (202) 

622–6688, Internal Revenue Service, 

room 6129, 1111 Constitution Avenue 

NW., Washington, DC 20224, or through 

the Internet at Carolyn.N.Brown@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Reporting Requirements for 

Widely Held Fixed Investment Trusts. 

OMB Number: 1545–1540. 

Regulation Project Number: REG– 

125071–06 (TD 9308). 

Abstract: Under regulation section 

1.671–5, the trustee or the middleman 

who holds an interest in a widely held 

fixed investment trust for an investor 

will be required to provide a Form 1099 

to the IRS and a tax information 

statement to the investor. The trust is 

also required to provide more detailed 

tax information to middlemen and 

certain other persons, upon request. 

Current Actions: There is no change to 

this existing regulation. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Business or other forprofit organizations. 

Estimated Number of Respondents: 

1,200. 

Estimated Time per Respondent: 2 

hours. 

Estimated Total Annual Burden 

Hours: 2,400. 

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 


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