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.
Written comments should be received on or before February 21, 2002 to be assured of consideration.
Internal Revenue Service (IRS)
OMB Number: 1545-1478.
Regulation Project Number: INTL-3-95 Final.
Type of Review: Extension.
Title: Certain Transfers of Domestic Stock or Securities by U.S. Persons to Foreign Corporations.
Description: Transfers of stock or securities by U.S. persons in tax-free transactions are treated as taxable transactions when the acquirer is a foreign corporation, unless an exception applies (section 367(a)). Under the regulations, no U.S. person will qualify for an exception unless the U.S. target company complies with certain reporting requirements.
Respondents: Business or other for-profit.
Estimated Number of Respondents: 100.
Estimated Burden Hours Per Respondent: 10 hours.
Frequency of Response: Other (Once).
Estimated Total Reporting Burden: 1,000 hours.
Clearance Officer: George Freeland, Internal Revenue Service, Room 5577, 1111 Constitution Avenue, NW., Washington, DC 20224.
OMB Reviewer: Alexander T. Hunt (202) 395-7860, Office of Management and Budget, Room 10202, New Executive Office Building, Washington, DC 20503.Start Signature
Lois K. Holland,
Departmental Reports, Management Officer.
[FR Doc. 02-1485 Filed 1-18-02; 8:45 am]
BILLING CODE 4830-01-P