U.S. Property and Casualty Insurance Company Income Tax Return

Forms and Documents

Document Name	Status
Form Schedule M-3 (Form Net Income (Loss) Reconciliation for U.S. Property and Casualty Insurance Companies With Total Assets of $10 Million or More Form and Instruction	Modified
Form 1120-PC U.S. Property and Casualty Insurance Company Income Tax Return Form	Modified
Sch M-3 (1120)brdn_busi.PDF Supplementary Document	2008-02-11
Inst 1120pc summary of changes.pdf Justification for No Material/Nonsubstantive Change	2008-02-11
1120PC - brdn_busi.PDF Supplementary Document	2008-02-11
1120pc summary of changes.pdf Justification for No Material/Nonsubstantive Change	2008-02-11

IC Document Collections

IC ID	Document Title	Status
178570	Net Income (Loss) Reconciliation for U.S. Property and Casualty Insurance Companies With Total Assets of $10 Million or More Form and Instruction	Modified
17702	U.S. Property and Casualty Insurance Company Income Tax Return Form	Modified

ICR Details

OMB Control No: 1545-1027	ICR Reference No: 200802-1545-002
Status: Historical Active	Previous ICR Reference No: 200702-1545-003
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: U.S. Property and Casualty Insurance Company Income Tax Return
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/19/2008
	Date Received in OIRA: 02/12/2008
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2008	12/31/2008	12/31/2008
Responses	4,200	0	4,200
Time Burden (Hours)	649,218	0	652,992
Cost Burden (Dollars)	0	0	0

---

Abstract: Property and casualty insurance companies are required to file an annual return of income and pay the tax due. The data is used to insure that companies have correctly reported income and paid the correct tax.

---

Authorizing Statute(s): US Code: 26 USC 831 Name of Law: Tax on insurance companies other than life insurance companies
  

Citations for New Statutory Requirements: PL: Pub.L. 110 - 28 8214 Name of Law: U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations Act

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

---

Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
U.S. Property and Casualty Insurance Company Income Tax Return	1120-PC	U.S. Property and Casualty Insurance Company Income Tax Return
Net Income (Loss) Reconciliation for U.S. Property and Casualty Insurance Companies With Total Assets of $10 Million or More	Schedule M-3 (Form 1120-PC)	U.S. Property and Casualty Insurance Company Income Tax Return

---

ICR Summary of Burden

	Total Approved	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	4,200	4,200	0	0	0	0
Annual Time Burden (Hours)	649,218	652,992	-3,774	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement: PL 110-28, U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations Act --Revise product to reflect the credits allowed against the AMT. --Inserted checkboxes for Forms 5884 and 8846 to reflect the removal of these forms from Form 3800 to account for the waiver of the AMT.

---

Annual Cost to Federal Government: $0

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

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

---

Common Form ICR:  No

---

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: 02/12/2008

---