Agency Information Collection Activities: Comment Request on the Burden Related to the Treatment of Distributions to Foreign Persons
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
This law outlines the IRS's request for public comments on the information collection process related to the treatment of distributions to foreign individuals and entities as per the Paperwork Reduction Act of 1995. The IRS aims to assess and minimize the burden of information collection by inviting feedback on the necessity and accuracy of the current data collection, as well as methods to enhance quality and reduce reporting burdens. Comments received will be used to inform the IRS’s practices and will be made public.
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Obligations
What this law requires
Submit written comments on the information collection request on or before June 8, 2026 to ensure consideration
Direct written comments to Andrés Garcia at IRS Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or email pra.comments@irs.gov with subject line 'OMB Number: 1545-1487—Public Comment Request Notice'
File gain recognition agreements (GRAs) and related documents, or satisfy other reporting obligations associated with transfers of property to foreign corporations in nonrecognition exchanges
Avoid including confidential or sensitive personal information in submitted comments
The IRS must summarize and/or include comments submitted in response to this notice in the request for OMB approval