34736 Federal Register / Vol. 66, No. 126 / Friday, June 29, 2001 / Notices

maintenance, and purchase of services

to provide information.

Approved: June 19, 2001.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 01–16403 Filed 6–28–01; 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 August 28, 2001

to be assured of consideration.

ADDRESSES: Direct all written comments

to Garrick R. Shear, Internal Revenue

Service, room 5244, 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

5242, 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 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.

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: June 21, 2001.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 01–16404 Filed 6–28–01; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[REG–118966–97]

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, REG–118966–

97, Information Reporting With Respect

to Certain Foreign Partnerships and

Certain Foreign Corporations

(§§ 1.6038–2, 1.6038–3, 1.6038B–1, and

1.6038B–2).

DATES: Written comments should be

received on or before August 28, 2001

to be assured of consideration.

ADDRESSES: Direct all written comments

to Garrick R. Shear, Internal Revenue

Service, room 5244, 1111 Constitution

Avenue NW., Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or

copies of the regulation should be

directed to Martha Brinson (202) 622–

3869, Internal Revenue Service, room

5244, 1111 Constitution Avenue NW.,

Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Information Reporting With

Respect to Certain Foreign Partnerships

and Certain Foreign Corporations.

OMB Number: 1545–1617.

Regulation Project Number: REG–

118966–97.

Abstract: Section 6038 requires

certain U.S. persons who own interests

in certain foreign partnerships or certain

foreign corporations to annually report

information to the IRS. This regulation

provides reporting rules to identify

foreign partnerships and foreign

corporations which are controlled by

U.S. persons.

Current Actions: There is no change to

this existing regulation.

Type of Review: Extension of OMB

approval.

Affected Public: Individuals or

households, and business or other forprofit organizations.