[Federal Register Volume 63, Number 137 (Friday, July 17, 1998)]
[Notices]
[Page 38693]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-19056]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Submission to OMB for Review; Comment Request
July 7, 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: 1545-0704.
Form Number: IRS Form 5471 and Related Schedules.
Type of Review: Revision.
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 and
schedules are used to satisfy the reporting requirements of section
6035, 6038 and 6046 and the regulations thereunder pertaining to the
involvement of U.S. persons with certain foreign corporations.
Respondents: Business or other for-profit, Individuals or
households.
Estimated Number of Respondents/Recordkeepers: 43,000.
Estimated Burden Hours Per Respondent/Recordkeeper:
--------------------------------------------------------------------------------------------------------------------------------------------------------
Preparing and sending the
Form Recordkeeping Learning about the law or the form form to the IRS
--------------------------------------------------------------------------------------------------------------------------------------------------------
5471................................ 81 hr., 24 min........................... 25 hr., 20 min........................... 31 hr., 22 min.
Schedule J.......................... 3 hr., 50 min............................ 1 hr., 0 min............................. 1 hr., 6 min.
Schedule M.......................... 26 hr., 33 min........................... 6 min.................................... 32 min.
Schedule N.......................... 8 hr., 22 min............................ 2 hr., 47 min............................ 3 hr., 2 min.
Schedule O.......................... 10 hr., 46 min........................... 30 min................................... 42 min.
--------------------------------------------------------------------------------------------------------------------------------------------------------
Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 7,281,930 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. 98-19056 Filed 7-16-98; 8:45 am]
BILLING CODE 4830-01-P
