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62044 Federal Register / Vol. 71, No.

203 / Friday, October 20, 2006 / Notices

related entities (within the meaning of Treasury, Room 11000, 1750 Transactions With Foreign Trusts and
section 168(h)94). Forms 8871 and Pennsylvania Avenue, NW., Receipt of Certain Foreign Gifts.
8453–X are used for this purpose. Washington, DC 20220. DATES: Written comments should be
Respondents: Not-for-profit DATE: Written comments should be received on or before December 19, 2006
institutions. received on or before November 20, to be assured of consideration.
Estimated Total Burden Hours: 35,195 2006 to be assured of consideration. ADDRESSES: Direct all written comments
Community Development Financial to Glenn Kirkland, Internal Revenue
OMB Number: 1545–2014.
Type of Review: Extension. Institutions Fund Service, room 6512, 1111 Constitution
Title: Election to defer look-through Avenue, NW., Washington, DC 20224.
treatment of dividend. OMB Number: 1559–0021. FOR FURTHER INFORMATION CONTACT:
Description: The American Jobs Type of Review: Revision. Requests for additional information or
Creation Act of 2004 amended the Form: CDFI 0001. copies of the form and instructions
foreign tax credit treatment of dividends Title: Financial Assistance (FA) and should be directed to Larnice Mack at
from noncontrolled section 902 Technical Assistance Component Internal Revenue Service, room 6512,
corporations effective for post 2002 tax Application—CDFI Program. 1111 Constitution Avenue, NW.,
year and the GOZA permitted taxpayers Description: The CDFI Fund provides Washington, DC 20224, or at (202) 622–
to elect to defer the effective data of financial assistance in the form of 3179, or through the Internet at
these amendments until post 2002 tax grants, loans, equity investments and Larnice.Mack@irs.gov.
years. These regulations require a deposits to community development
taxpayer making the Gulf Opportunity financial institutions providing capital
Title: Annual Return To Report
Zone Act election to file a statement to and financial services to underserved
Transactions With Foreign Trusts and
such effect with its next tax return, and markets.
Receipt of Certain Foreign Gifts.
they require certain shareholders Respondents: Not-for-Profits Institutes OMB Number: 1545–0159.
wishing to make tax elections on behalf and Business—and other for Profit. Form Number: 3520.
of their controlled foreign corporations Estimated Total Burden Hours: 16,000 Abstract: Form 3520 is filed by U.S.
or noncontrolled section 902 hours. persons who create a foreign trust,
corporations to execute a joint consent Clearance Officer: Margaret Nilson, transfer property to a foreign trust,
(that is retained by one shareholder) and (202) 622–8917, Community receive a distribution from foreign trust,
attach a statement to the company’s Development Financial Institutions or receive a distribution from foreign
return. Fund, Department of the Treasury, 601 trust, or receive large gifts from a foreign
Respondents: Businesses and other 13th Street, NW., Suite 200 South, source. IRS uses the form to identify
for-profit institutions. Washington, DC 20005. U.S. persons who have transactions that
Estimated Total Burden Hours: 25 OMB Reviewer: Alexander T. Hunt, may trigger a taxable event in the future.
hours. (202) 395–7316, Office of Management Current Actions: There are no changes
Clearance Officer: Glenn P. Kirkland, and Budget, Room 10235, New being made to the form at this time.
(202) 622–3428, Internal Revenue Executive Office Building, Washington, Type of Review: Extension of a
Service, Room 6516, 1111 Constitution DC 20503. currently approved collection.
Avenue, NW., Washington, DC 20224. Affected Public: Business or other for-
OMB Reviewer: Alexander T. Hunt, Michael A. Robinson,
profit organizations.
(202) 395–7316, Office of Management Treasury PRA Clearance Officer.
Estimated Number of Respondents:
and Budget, Room 10235, New [FR Doc. E6–17599 Filed 10–19–06; 8:45 am] 1,320.
Executive Office Building, Washington, BILLING CODE 4810–70–P Estimated Time Per Response: 54
DC 20503. hours, 21 minutes.
Robert Dahl, Estimated Total Annual Burden
Treasury PRA Clearance Officer.
The following paragraph applies to all
[FR Doc. E6–17598 Filed 10–19–06; 8:45 am] Internal Revenue Service
of the collections of information covered
Proposed Collection; Comment by this notice:
Request for Form 3520 An agency may not conduct or
sponsor, and a person is not required to
DEPARTMENT OF THE TREASURY Internal Revenue Service (IRS),
AGENCY: respond to, a collection of information
Submission for OMB Review; Treasury. unless the collection of information
Comment Request ACTION: Notice and request for displays a valid OMB control number.
comments. Books or records relating to a collection
October 16, 2006. of information must be retained as long
The Department of Treasury has SUMMARY: The Department of the as their contents may become material
submitted the following public Treasury, as part of its continuing effort in the administration of any internal
information collection requirement(s) to to reduce paperwork and respondent revenue law. Generally, tax returns and
OMB for review and clearance under the burden, invites the general public and tax return information are confidential,
Paperwork Reduction Act of 1995, other Federal agencies to take this as required by 26 U.S.C. 6103.
Public Law 104–13. Copies of the opportunity to comment on proposed Request for Comments: Comments
submission(s) may be obtained by and/or continuing information submitted in response to this notice will
calling the Treasury Bureau Clearance collections, as required by the be summarized and/or included in the
jlentini on PROD1PC65 with NOTICES

Officer listed. Comments regarding this Paperwork Reduction Act of 1995, request for OMB approval. All
information collection should be Public Law 104–13 (44 U.S.C. comments will become a matter of
addressed to the OMB reviewer listed 3506(c)(2)(A)). Currently, the IRS is public record. Comments are invited on:
and to the Treasury Department soliciting comments concerning Form (a) Whether the collection of
Clearance Officer, Department of the 3520, Annual Return To Report information is necessary for the proper

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