SECTION 9. PAPERWORK

REDUCTION ACT

The collections of information contained in this revenue procedure have been reviewed and approved by the Office of Management and Budget in accordance with the Paperwork Reduction Act (44 U.S.C. 3507) under control number 1545 –1752. The collection of information and reporting burden are in section 5 of this rev

enue procedure. This information will be used to determine whether an issuer may remedy failures to comply with the requirements of § 7702A. The likely respondents are insurance companies.

The estimated total annual reporting burden is 1000 hours.

The estimated annual burden per respondent varies from 50 hours to 150 hours with an average of 100 hours. The estimated number of respondents is 10.

The estimated annual frequency of the responses is one time.

An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection of information displays a valid OMB control number.

Books and records relating to a collection of information must be retained as long as their contents may become material in the administration of any internal

revenue law. Generally tax returns and tax return information are confidential, as required by 26 U.S.C. 6103.

DRAFTING INFORMATION

For further information regarding this revenue procedure, contact Donald Drees of Financial Institutions and Products at (202) 622-3970 (not a toll-free call).

September 4, 2001 218 2001–36 I.R.B.