Submission for OMB Review; Comment Request, 139 [04-28696]

Agencies

• DEPARTMENT OF THE TREASURY
• Department of Treasury

[Federal Register Volume 70, Number 1 (Monday, January 3, 2005)]
[Notices]
[Page 139]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 04-28696]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

December 22, 2004.
    The Department of the Treasury has submitted the following public 
information collection requirement(s) to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Public Law 104-13. Copies of 
the submission(s) may be obtained by calling the Treasury Bureau 
Clearance Officer listed. Comments regarding this information 
collection should be addressed to the OMB reviewer listed and to the 
Treasury Department Clearance Officer, Department of the Treasury, Room 
11000, 1750 Pennsylvania Avenue, NW., Washington, DC 20220.

DATES: Written comments should be received on or before February 2, 
2005 to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0200.
    Form Number: IRS Form 5307.
    Type of Review: Revision.
    Title: Application for Determination for Adopters of Master or 
Prototype or Volume Submitter Plans.
    Description: This form is filed by employers or plan administrators 
who have adopted a master or prototype plan approved by the IRS 
National Office or a regional prototype plan approved by the IRS 
District Director to obtain a ruling that the plan adopted is qualified 
under Internal Revenue Code (IRS) sections 401(a) and 501(a). It may 
not be used to request a letter for a multiple employer plan.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 100,000.
    Estimated Burden Hours Respondent/Recordkeeper:

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                                                          Form 5307                  Schedule Q  (Form 5300)
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Recordkeeping...............................  28 hr., 13 min..................  6 hr., 13 min.
Learning about the law or the form..........  7 hr., 28 min...................  9 hr., 14 min.
Preparing the form..........................  13 hr., 51 min..................  9 hr., 45 min.
Copying, assembling, and sending the form to  1 hr., 36 min...................
 the IRS.
----------------------------------------------------------------------------------------------------------------

    Frequency of response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 5,115,000 hours.

    OMB Number: 1545-0229.
    Form Number: IRS Form 6406.
    Type of Review: Extension.
    Title: Short Form Application for Determination for Minor Amendment 
of Employee Benefit Plan.
    Description: This form is used by certain employee plans who want a 
determination letter or an amendment to the plan. The information 
gathered will be used to decide whether the plan is qualified under 
section 401(a).
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 25,000.
    Estimated Burden Hours Respondent/Recordkeeper:
    Recordkeeping--14 hr., 21 min.
    Learning about the law or the form--2 hr., 13 min.
    Preparing the form--4 hr., 25 min.
    Copying, assembling, and sending the form to the IRS--
    Frequency of response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 538,250 hours.

    OMB Number: 1545-1471.
    Regulation Project Number: REG-209626-93 Final.
    Type of Review: Extension.
    Title: Notice, Consent, and Election Requirements under Sections 
411(a)(11) and 417.
    Description: These regulations concern the ability to make a 
distribution from a qualified plan within 30 days of giving the 
participant a written explanation of the distribution options provided 
the plan administrator informs the participant of the right to have at 
least 30 days to consider the options.
    Respondents: Business or other for-profit, Individuals or 
households, not-for-profit institutions, Federal Government, State, 
Local or Tribal Government.
    Estimated Number of Respondents: 750,000.
    Estimated Burden Hours Respondent: 7 minutes.
    Frequency of response: Other (once a year).
    Estimated Total Reporting Burden: 8,333 hours.

    OMB Number: 1545-1637.
    Regulation Project Number: REG-106177-98.
    Type of Review: Extension.
    Title: Adequate Disclosure of Gifts.
    Description: The information requested in regulation section 
301.6501(copyright)-1(f)(2) that must be provided on a gift tax return 
is necessary to give the IRS a complete and accurate description of the 
transfer in order to begin the running of the statute of limitations on 
the gift. Prior to the expiration of the statute of limitations, a gift 
tax may be assessed and the value may be adjusted in order to determine 
the value of prior taxable gifts for estate and gift tax purposes.
    Respondents: Individuals or households.
    Estimated Number of Respondents: 1.
    Estimated Burden Hours Respondent: 1 hour.
    Frequency of response: On occasion.
    Estimated Total Reporting Burden: 1 hour.
    Clearance Officer: R. Joseph Durbala (202) 622-3634, Internal 
Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington, 
DC 20224.
    OMB Reviewer: Joseph F. Lackey, Jr. (202) 395-7316, Office of 
Management and Budget, Room 10235, New Executive Office Building, 
Washington, DC 20503.

Lois K. Holland,
Treasury PRA Clearance Officer.
[FR Doc. 04-28696 Filed 12-30-04; 8:45 am]
BILLING CODE 4830-01-P