Form 8404--Interest Charge on DISC-Related Deferred Tax Liability

Forms and Documents

Document Name	Status
Form Form 8404 Form 8404--Interest Charge on DISC-Related Deferred Tax Liability Form and Instruction	Modified
8404Supporting Statement.doc Supporting Statement A	2011-10-11
Expiration Explanation.rtf Supplementary Document	2008-09-23

IC Document Collections

IC ID	Document Title	Status
17550	Form 8404--Interest Charge on DISC-Related Deferred Tax Liability Form and Instruction	Modified

ICR Details

OMB Control No: 1545-0939	ICR Reference No: 201110-1545-016
Status: Historical Active	Previous ICR Reference No: 200809-1545-022
Agency/Subagency: TREAS/IRS	Agency Tracking No: EC-1545-0939-022
Title: Form 8404--Interest Charge on DISC-Related Deferred Tax Liability
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/21/2011
	Date Received in OIRA: 11/28/2011
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2014	36 Months From Approved	12/31/2011
Responses	2,000	0	2,000
Time Burden (Hours)	15,580	0	17,600
Cost Burden (Dollars)	0	0	0

---

Abstract: Shareholders of Interest Charge Domestic International Sales Corporations (IC-DISCs) use Form 8404 to figure and report an interest charge on their DISC-related deferred tax liability. The interest charge is required by Internal Revenue Code section 995(f). IRS uses Form 8404 to determine whether the shareholder has correctly figured and paid the interest charge on a timely basis.

---

Authorizing Statute(s): US Code: 26 USC 995(f) Name of Law: Interest on DISC-related deferred tax liability.
  

Citations for New Statutory Requirements: None

---

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

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 34295	06/13/2011
30-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 72034	11/21/2011
Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Form 8404--Interest Charge on DISC-Related Deferred Tax Liability	Form 8404	Interest Charge on DISC-Related Deferred Tax Liability

---

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	2,000	2,000	0	0	0	0
Annual Time Burden (Hours)	15,580	17,600	0	-2,020	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: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The decrease in burden is due to Program Change Due to Agency Discretion: Changes to the instructions resulted in less code references and a 2,020 decrease in the total number of annual burden hours.

---

Annual Cost to Federal Government: $288

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]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

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: 11/28/2011

---