SECTION 12. PAPERWORK

REDUCTION ACT

The Paperwork Reduction Act of 1995 (44 U.S.C. §§ 3501-3520) (PRA) required that a Federal agency obtain the approval of the Office of Management and Budget (OMB) before collecting information from the public, whether such collection of information is mandatory, voluntary, or required to obtain or retain a benefit. 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.

The collections of information in this notice are in sections 4.04(3), 5.03(2) and (3), 5.04(2) and (3), and 7.03(3)(a) of this notice.

Section 4.04(3) of this notice requires a CAMT entity to file a statement with its Federal income tax return if it chooses to use a reasonable method to determine regulatory asset book inventoriable depreciation under section 4.04(2) of this notice to make the AFSI adjustment described in section 4 of this notice. The information requested in section 4.04(3) of this notice is required to obtain the benefit of making the AFSI adjustment described in section 4 of this notice. This information will be used by the IRS to confirm compliance with the guidance in section 4 of this notice. The likely respondents are corporations.

Section 5.03(2) and 5.04(2) of this notice requires a CAMT entity to file a statement with its Federal income tax return if it chooses to apply the FVI exclusion option or hedge coordination

option. The information requested in section 5.03(2) and 5.04(2) of this notice is required to obtain the benefit of using the FVI exclusion option or hedge coordination option. This information will be used by the IRS to confirm compliance with the FVI exclusion option or hedge coordination option. The likely respondents are corporations.

Section 5.03(3) and 5.04(3) of this notice requires a CAMT entity to file a statement with its Federal income tax return if it chooses to no longer apply the FVI exclusion option or hedge coordination option. The information requested in section 5.03(3) and 5.04(3) of this notice is required to no longer obtain the benefit of using the FVI exclusion option or hedge coordination option. This information will be used by the IRS to confirm whether the CAMT entity ceases to apply the FVI exclusion option or hedge coordination option. The likely respondents are corporations.

Section 7.03(3)(a) of this notice requires a CAMT entity to file a statement with its Federal income tax return if it chooses to make the AFSI adjustment described in section 7.03 of this notice. The information requested in section 7.03(3)(a) of this notice is required to obtain the benefit of making the AFSI adjustment described in section 7.03 of this notice. This information will be used by the IRS to confirm compliance with the guidance in section 7 of this notice. The likely respondents are corporations.

The reporting requirements in this notice will be included within OMB control number 1545-0123 in accordance with the PRA procedures under 5 CFR § 1320.10. The recordkeeping requirements are considered general tax records under § 1.6001-1(e). For PRA purposes, general tax records are already approved

by OMB under 1545-0123 for business filers.

Books or 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 § 6103.