[Federal Register Volume 60, Number 76 (Thursday, April 20, 1995)]
[Notices]
[Pages 19807-19808]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-9777]



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DEPARTMENT OF THE TREASURY

Public Information Collection Requirements Submitted to OMB for 
Review

April 12, 1995.
    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 1980, Public Law 96-511. 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.

Internal Revenue Service (IRS)

OMB Number: 1545-0026.
Form Number: IRS Form 926.
Type of Review: Extension.
Title: Return by a U.S. Transfer of Property to a Foreign Corporation, 
Foreign Estate, or Trust or Foreign Partnership.
Description: U.S. persons file Form 926 to report the transfer of 
property to a foreign entity and to report information required by 
section 6038B. The IRS uses Form 926 to determine if the excise tax is 
properly computed and if any of the exceptions from the excise tax 
apply.
Respondents: Business or other for-profit, Individuals or households.
Estimated Number of Respondents/Recordkeepers: 1,000.
Estimated Burden Hours Per Respondent/Recordkeeper:
    Recordkeeping--7 hr., 25 min.
    Learning about the law or the form--2 hr., 59 min.
    Preparing and sending the form to the IRS--3 hr., 14 min.
Frequency of Response: On occasion.
Estimated Total Reporting/Recordkeeping Burden: 13,620 hours.

OMB Number: 1545-0159. [[Page 19808]] 
Form Number: IRS Form 3520.
Type of Review: Extension.
Title: Creation of or Transfers to Certain Foreign Trusts.
Description: Form 3520 is filed by U.S. persons who create a foreign 
trust or transfer property to a foreign trust. IRS uses Form 3520 to 
establish the identity of the U.S. person and to determine if the 
transfer is subject to the excise tax.
Respondents: Business or other for-profit.
Estimated Number of Respondents/Recordkeepers: 500.
Estimated Burden Hours Per Respondent/Recordkeepers:
    Recordkeeping--5 hr., 44 min.
    Learning about the law or the form--35 min.
    Preparing and sending the form to the IRS--43 min.
Frequency of Response: On occasion.
Estimated Total Reporting/Reporting Burden: 3,525 hours.

OMB Number: 1545-0196.
Form Number: IRS Form 5227.
Type of Review: Revision.
Title: Split-Interest Trust Information Return.
Description: The data reported is used to verify that the beneficiaries 
of a charitable remainder trust include the correct amounts in their 
tax returns, and that the split-interest trust is not subject to 
private foundation tax.
Respondents: Business or other for-profit.
Estimated Number of Respondents/Recordkeepers: 53,303.
Estimated Burden Hours Per Respondent/Recordkeepers:
    Recordkeeping--46 hr., 38 min.
    Learning about the law or the form--3 hr., 30 min.
    Preparing the form--10 hr., 0 min.
    Copying, assembling, and sending the form to the IRS--1 hr., 37 
min.
Frequency of Response: Annually.
Estimated Total Reporting/Reporting Burden: 3,290,927 hours.
Clearance Officer: Garrick Shear, (202) 622-3869, Internal Revenue 
Service, Room 5571, 1111 Constitution Avenue NW., Washington, DC 20224
OMB Reviewer: Milo Sunderhauf, (202) 395-7340, Office of Management and 
Budget, Room 10226, New Executive Office Building, Washington, DC 
20503.
Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 95-9777 Filed 4-19-95; 8:45 am]
BILLING CODE 4830-01-P