This document contains regulations
relating to when the area director may recharacterize a financing
arrangement as a conduit arrangement. Such recharacterization will
affect the amount of withholding tax due on financing transactions
that are part of the financing arrangement. These regulations will
affect withholding agents and foreign investors.
US Code:
26
USC 881 Name of Law: Tax on income of foreign corporations not
connected with United States business
US Code: 26
USC 7701(1) Name of Law: Definitions
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.