[Federal Register Volume 79, Number 176 (Thursday, September 11, 2014)]
[Notices]
[Pages 54351-54352]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-21601]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Regulation Project
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
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SUMMARY: The Department of the Treasury, as part of its continuing
effort to reduce paperwork and respondent burden, invites the general
public and other Federal agencies to take this opportunity to comment
on proposed and/or continuing information collections, as required by
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning
financial asset securitization investment trust; real estate mortgage
investment conduits; real estate mortgage investment conduits.
DATES: Written comments should be received on or before November 10,
2014 to be assured of consideration.
ADDRESSES: Direct all written comments to Christie Preston, Internal
Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the regulations should be directed to Allan Hopkins at
Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW.,
Washington, DC 20224, or through the Internet at
[email protected].
SUPPLEMENTARY INFORMATION:
Title: Financial Asset Securitization Investment Trusts; Real
Estate Mortgage Investment Conduits.
OMB Number: 1545-1675.
Regulation Project Number: [REG-100276-97; REG-122450-98]; TD 9004
(final).
Abstract: REG-122450-98 Sections 1.860E-1(c)(4)-(10) of the
Treasury Regulations provide circumstances under which a transferor of
a noneconomic residual interest in a Real Estate Mortgage Investment
Conduit (REMIC) meeting the investigation, and two representation
requirements may avail itself of the safe harbor by satisfying either
the formula test or asset test. This regulation provides start-up and
transitional rules applicable to financial asset securitization
investment trust. TD 9004 contains final regulations relating to safe
harbor transfers of noneconomic residual interests in real estate
mortgage investment conduits (REMICs). The final regulations provide
additional limitations on the circumstances under which transferors may
claim safe harbor treatment.
Current Actions: There are no changes being made to this existing
regulation.
Type of Review: Extension of currently approved collection.
Affected Public: Business or other for-profit.
Estimated Number of Respondents and/or Record-Keeping: 620.
Estimated Average Annual Burden Hours per Respondent and/or Record-
Keeping: 1 hour 58 minutes.
Estimated Total Annual Reporting and/or Record Keeping Burden:
1,220.
The following paragraph applies to all of the collections of
information covered by this notice:
An agency may not conduct or sponsor, and a person is not required
to
[[Page 54352]]
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.
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in the request for OMB approval. All
comments will become a matter of public record. Comments are invited
on: (a) Whether the collection of information is necessary for the
proper performance of the functions of the agency, including whether
the information shall have practical utility; (b) the accuracy of the
agency's estimate of the burden of the collection of information; (c)
ways to enhance the quality, utility, and clarity of the information to
be collected; (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated
collection techniques or other forms of information technology; and (e)
estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Approved: August 27, 2014.
Christie Preston,
IRS Reports Clearance Officer.
[FR Doc. 2014-21601 Filed 9-10-14; 8:45 am]
BILLING CODE 4830-01-P