Proposed Collection; Comment Request for Form 5227

• Published date: 04 February 2020
• Citation: 85 FR 6262
• Record Number: 2020-02079
• Section: Notices
• Court: Internal Revenue Service,Treasury Department

Federal Register, Volume 85 Issue 23 (Tuesday, February 4, 2020)

[Federal Register Volume 85, Number 23 (Tuesday, February 4, 2020)]
                [Notices]
                [Pages 6262-6263]
                From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
                [FR Doc No: 2020-02079]
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                DEPARTMENT OF THE TREASURY
                Internal Revenue Service
                Proposed Collection; Comment Request for Form 5227
                AGENCY: Internal Revenue Service (IRS), Treasury.
                ACTION: Notice and request for comments.
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                SUMMARY: The Internal Revenue Service, 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
                information collections, as required by the Paperwork Reduction Act of
                1995. The IRS is soliciting comments concerning Form 5227, Split-
                Interest Trust Information Return.
                DATES: Written comments should be received on or before April 6, 2020
                to be assured of consideration.
                ADDRESSES: Direct all written comments to Dr. Philippe Thomas, Internal
                Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC
                20224.
                FOR FURTHER INFORMATION CONTACT: Requests for additional information or
                copies of the form and instructions should be directed to Sara
                Covington, at (202) 317-6038, or Internal Revenue Service, Room 6526,
                1111 Constitution Avenue NW, Washington, DC 20224, or through the
                internet at [email protected].
                SUPPLEMENTARY INFORMATION:
                 Title: Split-Interest Trust Information Return.
                 OMB Number: 1545-0196.
                 Form Number: 5227.
                 Abstract: Form 5227 is used to report the financial activities of a
                split-interest trust described in Internal Revenue Code section
                4947(a)(2), and to determine whether the trust is treated as a private
                foundation and is subject to the excise taxes under Chapter 42 of the
                Code.
                 Current Actions: There are no changes being made to the form since
                2019 revision; however, there are changes and adjustments made to the
                burden estimates based on the most recent filing data.
                 Type of Review: Revision of a currently approved collection.
                 Affected Public: Business or other for-profit organizations.
                 Estimated Number of Responses: 199,900.
                 Estimated Time per Respondent: 45 hr., 24 min.
                 Estimated Total Annual Burden Hours: 9,076,744.
                [[Page 6263]]
                 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 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: January 28, 2020.
                Philippe Thomas,
                IRS Supervisory Tax Analyst.
                [FR Doc. 2020-02079 Filed 2-3-20; 8:45 am]
                 BILLING CODE 4830-01-P