Form 5712, Election To Be Treated as a Possessions Corporation Under Section 936; Form 5712-A, Election and Verification of the Cost Sharing or Profit Split Method Under Section 936(h)(5)
ICR 200306-1545-012
OMB: 1545-0215
Federal Form Document
⚠️ Notice: This information collection may be outdated. More recent filings for OMB 1545-0215 can be found here:
Form 5712, Election To Be
Treated as a Possessions Corporation Under Section 936; Form
5712-A, Election and Verification of the Cost Sharing or Profit
Split Method Under Section 936(h)(5)
Domestic corporations may elect to be
treated as possessions corporations on Form 5712. This election
allows the corporations to take a tax credit. Possession
corporations may elect on Form 5712-A to share their taxable income
with their affiliates under Internal Revenue Code section
936(h)(5). These forms are used by the IRS to ascertain if
corporations are entitled to the credit and if they may share their
taxable income with their affiliates.
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.