Supporting Statement for Form 56-F

SUPPORTING STATEMENT
1. CIRCUMSTANCES NECESSITATING COLLECTION OF INFORMATION
Due to the adverse economic conditions in the past year or so, many banks, thrifts, and other financial institutions
have (or will shorlty) failed. When such an institution fails the Federal Deposit Insurance Corporation (FDIC) or similar
federal agency, assumes the role of a fiduciary for the institution. The IRS still needs to contact the institutions after
they have failed for taxes and various information reporting issues. By filing the form 56-F, the fiduciary notifies the IRS
of the institution's failure, the fiduciary's address as the one to send all letters, notices, etc. to, and the status of the
fiduciary.

2. USE OF DATA
The data will be used by revenue agents and other IRS personnel auditing, examining, and collecting tax and
information from the failed institutions. The form decreases slow downs and lost mail, because the IRS, after
processing the form has the current address and status of the institution and the fiduciary.

3. USE OF IMPROVED INFORMATION TECHNOLOGY TO REDUCE BURDEN
There are no plans to provide electronic filing because electronic filing is not appropriate for the collection of
information in this submission.

4. EFFORTS TO IDENTIFY DUPLICATION
We have attempted to eliminate duplication within the agency wherever possible.

5. METHODS TO MINIMIZE BURDEN ON SMALL BUSINESSES OR OTHER SMALL ENTITIES
Not applicable.

6. CONSEQUENCES OF LESS FREQUENT COLLECTION ON FEDERAL PROGRAMS OR
POLICY ACTIVITIES
Not applicable.

7. SPECIAL CIRCUMSTANCES REQUIRING DATA COLLECTION TO BE INCONSISTENT
WITH GUIDELINES IN 5 CFR 1320.5(d)(2)
Not applicable.

8. CONSULTATION WITH INDIVIDUALS OUTSIDE OF THE AGENCY ON AVAILABILITY
OF DATA, FREQUENCY OF COLLECTION, CLARITY OF INSTRUCTIONS AND FORMS,
AND DATA ELEMENTS
Periodic meetings are held between IRS personnel and representatives of various professional groups to discuss tax
law and tax forms. During these meetings, there is an opportunity for those attending to make comments regarding the
collection requirements under this form.
We will publish a notice in the Federal Register in the near future to solicit public comments on this Notice.I

9. EXPLANATION OF DECISION TO PROVIDE ANY PAYMENT OR GIFT TO RESPONDENTS
Not applicable.

10. ASSURANCE OF CONFIDENTIALITY OF RESPONSES
Generally, tax returns and tax return information are confidential as required by 26 U.S.C. 6103.

11. JUSTIFICATION OF SENSITIVE QUESTIONS
Not applicable.

12. ESTIMATED BURDEN OF INFORMATION COLLECTION
The burden estimate is as follows:

Form

56-F

Number of
Responses
106

Time per
Response
9.40

Total
Hours
997

Estimates of the annualized cost to respondents for the hour burdens shown are not available at this time.

13. ESTIMATED TOTAL ANNUAL COST BURDEN TO RESPONDENTS
Estimates of the cost burdens are not available at this time.

14. ESTIMATED ANNUALIZED COST TO THE FEDERAL GOVERNMENT
Not applicable.

15. REASONS FOR CHANGE IN BURDEN
This form previously has been rarely used. However, due to the down-turn in the economy, many more banks, thrifts,
and financial institutions failed in 2009 as opposed to the number failing in previous years. Many more institutions'
fiduciaries have had to notify the IRS of their address.

16. PLANS FOR TABULATION, STATISTICAL ANALYSIS AND PUBLICATION
Not applicable.

17. REASONS WHY DISPLAYING THE OMB EXPIRATION DATE IS INAPPROPRIATE
See attached.

18. EXCEPTIONS TO THE CERTIFICATION STATEMENT ON OMB PRA SUBMISSION FORM
Not applicable.
Note: The following paragraph applies to all of the collections of information in this submission:
An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless
the collection of information displays a valid OMB control number. Books or records relating to a collection of
information must be retained as long as their contents may become material in the administration of any internal
revenue law. Generally, tax returns and tax return information are confidential, as required by 26 U.S.C. 6103.

19. REASON FOR EMERGENCY SUBMISSION
Due to the adverse economic conditions for banks and other financial institutions the use of and need for this form has
increased from 1 (or less) a year to 20 so far in 2009. The forms are necessary to notify the IRS of a fiduciary
relationship between the FDIC (or other federal agency) and a financial institution. The IRS needs this information so
that letters and notices of tax liability are sent to the fiduciary now in charge of the financial institution.