Student Loan Interest Statement

ICR 201701-1545-005

OMB: 1545-1576

Federal Form Document

Forms and Documents
Document
Name
Status
Form
Modified
Supporting Statement A
2017-02-15
IC Document Collections
IC ID
Document
Title
Status
18790 Modified
ICR Details
1545-1576 201701-1545-005
Historical Active 201311-1545-012
TREAS/IRS
Student Loan Interest Statement
Extension without change of a currently approved collection   No
Regular
Approved without change 06/29/2017
Retrieve Notice of Action (NOA) 02/27/2017
  Inventory as of this Action Requested Previously Approved
06/30/2020 36 Months From Approved 06/30/2017
22,148,234 0 8,761,303
2,657,789 0 1,051,357
0 0 0

Section 6050S(b)(2) of the Internal Revenue Code requires persons (financial institutions, governmental units, etc.) to report $600 or more of interest paid on student loans to the IRS and the students.

US Code: 26 USC 6050S Name of Law: Returns relating to higher education tuition and related expenses
  
None

Not associated with rulemaking

  81 FR 79096 11/10/2016
82 FR 12026 02/27/2017
No

1
IC Title Form No. Form Name
Student Loan Interest Statement 1098-E Student Loan Interest Statement

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 22,148,234 8,761,303 0 0 13,386,931 0
Annual Time Burden (Hours) 2,657,789 1,051,357 0 0 1,606,432 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
The burden has increased significantly due to the increased number of students taking multiple student loans for their higher education. The burden reflects an increase of 13,386,931 responses and 1,606,432 hours.

$2,000
No
No
No
No
No
Uncollected
Melody Devoe 2022837635

  No

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.
02/27/2017


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