New
collection (Request for a new OMB Control Number)
No
Regular
05/11/2021
Requested
Previously Approved
36 Months From Approved
3,180
0
33,390
0
0
0
The Federal Deposit Insurance
Corporation (FDIC) is requesting OMB approval of a new information
collection related to a notice of proposed rulemaking (proposed
rule or proposal) that would that would prescribe requirements for
tax allocation agreements that involve insured depository
institutions and OCC chartered uninsured institutions
(collectively, institutions). Under the proposal, institutions in a
consolidated tax filing group (consolidated group ) would be
required to enter into tax allocation agreements with their holding
companies and other members of the consolidated group that join in
the filing of a consolidated group tax return. The proposal would
establish a methodology for tax payment obligations between an
institution and its parent holding company within a consolidated
group and would address how the institution should be compensated
for the use of its tax assets (such as net operating losses and tax
credits). The proposal would be adopted primarily under Section 39
of the Federal Deposit Insurance Act (FDI Act) and codified within
the agencies’ safety and soundness regulations.
US Code:
12
USC 1831p-1 Name of Law: Federal Deposit Insurance Act
The Federal Deposit Insurance
Corporation (FDIC) is requesting OMB approval of a new information
collection related to a notice of proposed rulemaking (proposed
rule or proposal) that would that would prescribe requirements for
tax allocation agreements that involve insured depository
institutions and OCC chartered uninsured institutions
(collectively, institutions). Under the proposal, institutions in a
consolidated tax filing group (consolidated group ) would be
required to enter into tax allocation agreements with their holding
companies and other members of the consolidated group that join in
the filing of a consolidated group tax return. The proposal would
establish a methodology for tax payment obligations between an
institution and its parent holding company within a consolidated
group and would address how the institution should be compensated
for the use of its tax assets (such as net operating losses and tax
credits). The proposal would be adopted primarily under Section 39
of the Federal Deposit Insurance Act (FDI Act) and codified within
the agencies’ safety and soundness regulations.
No
No
No
No
No
No
No
Manuel Cabeza 202 898-3781
mcabeza@fdic.gov
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.