95-376. Public Information Collection Requirements Submitted to OMB for Review

[Federal Register Volume 60, Number 5 (Monday, January 9, 1995)]
[Notices]
[Page 2425]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-376]



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DEPARTMENT OF THE TREASURY


Public Information Collection Requirements Submitted to OMB for 
Review

December 30, 1994.

    The Department of Treasury has made revisions and resubmitted 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: 1545-0704.
    Form Number: IRS Form 5471, Schedules J, M, N, and O.
    Type of Review: Resubmission.
    Title: Information Return of U.S. Persons with Respect to Certain 
Foreign Corporations.
    Description: Form 5471 and related schedules are used by U.S. 
persons that have an interest in a foreign corporation. The form is 
used to report income from the foreign corporation. The form and 
schedules are used to satisfy the reporting requirements of sections 
6035, 6038 and 6046 and the regulations thereunder pertaining to the 
involvement of U.S. persons with certain foreign corporations.
    Respondents: Individuals or households, Businesses or other for- 
profit, Small businesses or organizations.
    Estimated Number of Respondents/Recordkeepers: 1,332,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

------------------------------------------------------------------------
                                       Learning about     Preparing and 
       Form          Recordkeeping     the law or the   sending the form
                                            form           to the IRS   
------------------------------------------------------------------------
5471.............  86 hr., 20 min...  25 hr., 38 min..  31 hr., 46 min. 
Sch. J...........  3 hr., 50 min....  1 hr., 6 min....  1 hr., 6 min.   
Sch. M...........  26 hr., 33 min...  6 min...........  32 min.         
Sch. N...........  8 hr., 22 min....  8 hr., 22 min...  3 hr., 2 min.   
Sch. O...........  10 hr., 46 min...  12 min..........  23 min.         
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    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 17,533,560 hours.
    Clearance Officer: Garrick Shear [phone], Internal Revenue 
Service, Room 5571, 1111 Constitution Avenue, NW., Washington, DC 
20224.
    OMB Reviewer: Milo Sunderhauf [phone], Office of Management 
and Budget, Room 10226, New Executive Office Building, Washington, DC 
20503.
Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 95-376 Filed 1-6-95; 8:45 am]
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