Offshore Voluntary Disclosure Program (OVDP)

Forms and Documents

Document Name	Status
Form -- 2012 OVDP Submission Requirements Form	New
Burden Estimate.pdf Supplementary Document	2013-01-16
Supporting Statement.pdf Supporting Statement A	2013-01-16

IC Document Collections

IC ID	Document Title	Status
205421	Statement of Dissolved Entities Other-Statement	New
205416	Streamlined Procedures Questionnaire Other-Questionnaire	New
205415	2012 OVDP Foreign Account or Asset Statement Other-Statement	New
205414	2012 OVDP Penalty Computation Worksheet Other-Worksheet	New
205413	2012 OVDP Submission Requirements Form	New

ICR Details

OMB Control No: 1545-2241	ICR Reference No: 201301-1545-016
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Offshore Voluntary Disclosure Program (OVDP)
Type of Information Collection: Existing collection in use without an OMB Control Number	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 01/16/2013
OIRA Conclusion Action: Approved with change	Conclusion Date: 03/07/2013
	Date Received in OIRA: 01/16/2013
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2013	6 Months From Approved
Responses	458,500	0	0
Time Burden (Hours)	726,500	0	0
Cost Burden (Dollars)	0	0	0

---

Abstract: The information provided on the submission form will be used to assist in timely determination of acceptance into the Voluntary Disclosure Program. Taxpayers with undisclosed foreign accounts or entities should make a voluntary disclosure because it enables them to become compliant, avoid substantial civil penalties and generally eliminate the risk of criminal prosecution, including penalty sections 6651, 6035, 6038, 6046, 6048, and 6662.

Emergency Justfication: This is an updated submission form that has already been used for the 2009 and 2011 Offshore Voluntary Disclosure Initiatives (OVDI). The information supplied by individuals on this form will allow the IRS to timely determine if the taxpayer will be accepted into the Program. Taxpayers with undisclosed foreign accounts or entities should make a voluntary disclosure because it enables them to become compliant, avoid substantial civil penalties and generally eliminate the risk of criminal prosecution. The objective is to bring taxpayers that have used undisclosed foreign accounts and undisclosed foreign entities to avoid or evade tax into compliance with United States tax laws. Failure to provide this program could result in significant financial and legal actions being placed on taxpayers attempting to become compliant with the U.S. tax laws.

---

Authorizing Statute(s): US Code: 26 USC 6651 Name of Law: Failure to file tax return or to pay tax
   US Code: 26 USC 6038 Name of Law: Information reporting with respect to certain foreigncorporations and partnerships
   US Code: 26 USC 6046 Name of Law: Returns as to organization or reorganization of foreigncorporations and as to acquisitions of their
   US Code: 26 USC 6048 Name of Law: Information with respect to certain foreign trusts
   US Code: 26 USC 6662 Name of Law: Imposition of accuracy-related penalty on underpayments
  

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

Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 5

IC Title	Form No.	Form Name
2012 OVDP Submission Requirements	--	Offshore Voluntary Disclosures Letter
2012 OVDP Penalty Computation Worksheet
2012 OVDP Foreign Account or Asset Statement
Streamlined Procedures Questionnaire
Statement of Dissolved Entities

---

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	458,500	0	0	0	0	458,500
Annual Time Burden (Hours)	726,500	0	0	0	0	726,500
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:

---

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]? 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: 01/16/2013

---