Return by a U.S. Transferor of Property to a Foreign Corporation

Forms and Documents

Document Name	Status
Form 926 Form 926 - Return by a U.S. Transferor of Property to a Foreign Corporation Form	Modified
Supporting Statement-1545-0026 - Final Rule-MS.docx Supporting Statement A	2024-06-04

IC Document Collections

IC ID	Document Title	Status
39372	Form 926 - Return by a U.S. Transferor of Property to a Foreign Corporation Form	Modified

ICR Details

OMB Control No: 1545-0026	ICR Reference No: 202404-1545-017
Status: Received in OIRA	Previous ICR Reference No: 202207-1545-016
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Return by a U.S. Transferor of Property to a Foreign Corporation
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 10/10/2024

	Requested	Previously Approved
Expiration Date	36 Months From Approved	02/28/2025
Responses	667	667
Time Burden (Hours)	30,209	28,608
Cost Burden (Dollars)	0	0

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Abstract: Form 926 is filed by any U.S. person who transfers certain tangible or intangible property to a foreign corporation to report information required by section 6038B.

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Authorizing Statute(s): US Code: 26 USC 6038B Name of Law: Information reporting with respect to certain foreign corporations and partnerships
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1545-BP55	Final or interim final rulemaking	89 FR 82160	10/10/2024

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Form 926 - Return by a U.S. Transferor of Property to a Foreign Corporation	926	Return by a U.S. Transferor of Property to a Foreign Corporation

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ICR Summary of Burden

	Total Request	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	667	667	0	0	0	0
Annual Time Burden (Hours)	30,209	28,608	0	1,601	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The final regulations affect certain United States persons that previously transferred intangible property to a foreign corporation. Changes made by these final regulations will result in an estimated burden increase of 1,601 hours. The burden changes are due to the requirement to provide specific information concerning a subsequent transfer of intangible property as described in §1.367(d)-1(f)(4)(i).

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Annual Cost to Federal Government: $28,536

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 10/10/2024

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