Proposed Collection; Comment Request for Form 5306, 36608 [E6-10067]

Download as PDF 36608 Federal Register / Vol. 71, No. 123 / Tuesday, June 27, 2006 / Notices DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 5306 Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. sroberts on PROD1PC70 with NOTICES AGENCY: SUMMARY: The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104–13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Form 5306, Application for Approval of Prototype or Employer Sponsored Individual Retirement Account. DATES: Written comments should be received on or before August 28, 2006 to be assured of consideration. ADDRESSES: Direct all written comments to Glenn Kirkland Internal Revenue Service, Room 6512, 1111 Constitution Avenue, NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the form and instructions should be directed to Larnice Mack at Internal Revenue Service, Room 6512, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202) 622– 3179, or through the internet at (Larnice.Mack@irs.gov). SUPPLEMENTARY INFORMATION: Title: Application for Approval of Prototype or Employer Sponsored Individual Retirement Account. OMB Number: 1545–0393. Form Number: 5306. Abstract: This application is used by employers who want to establish an individual retirement account trust to be used by their employees. The application is also used by banks and insurance companies that want to establish approved prototype individual retirement accounts or annuities. The data collected are used to determine if the individual retirement account trust or annuity contract meets the requirements of Code section 408(a), 408(b), or 408(c) so that the IRS may issue an approval letter. Current Actions: There are no changes being made to the form at this time. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations. VerDate Aug<31>2005 17:33 Jun 26, 2006 Jkt 208001 Estimated Number of Respondents: 600. Estimated Time Per Respondent: 13 hours, 8 minutes. Estimated Total Annual Burden Hours: 7,878. The following paragraph applies to all of the collections of information covered by this notice: 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 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 26 U.S.C. 6103. Request for Comments: Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval. All comments will become a matter of public record. Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. Approved: June 20, 2006. Glenn Kirkland, IRS Reports Clearance Office. [FR Doc. E6–10067 Filed 6–26–06; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 5500–EZ Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: SUMMARY: The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this PO 00000 Frm 00093 Fmt 4703 Sfmt 4703 opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104–13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Form 5500–EZ, Annual Return of OneParticipant (Owners and Their Spouses) Retirement Plan. DATES: Written comments should be received on or before August 28, 2006 to be assured of consideration. ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the form and instructions should be directed to R. Joseph Durbala, 202–622–3634, at Internal Revenue Service, room 6516, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the internet at RJoseph.Durbala@irs.gov. SUPPLEMENTARY INFORMATION: Title: Annual Return of OneParticipant (Owners and Their Spouses) Retirement Plan. OMB Number: 1545–0956. Form Number: 5500–EZ. Abstract: Form 5500–EZ is an annual return filed by a one-participant or oneparticipant and spouse pension plan. The IRS uses this data to determine if the plan appears to be operating properly as required under the Internal Revenue Code or whether the plan should be audited. Current Actions: There are no changes being made to the form at this time. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations, and farms. Estimated Number of Respondents: 250,000. Estimated Time Per Respondent: 27 hours, 5 minutes. Estimated Total Annual Burden Hours: 6,770,000. The following paragraph applies to all of the collections of information covered by this notice: 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 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 26 U.S.C. 6103. E:\FR\FM\27JNN1.SGM 27JNN1

Agencies

[Federal Register Volume 71, Number 123 (Tuesday, June 27, 2006)]
[Notices]
[Page 36608]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-10067]



[[Page 36608]]

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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 5306

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to take this opportunity to comment 
on proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning 
Form 5306, Application for Approval of Prototype or Employer Sponsored 
Individual Retirement Account.

DATES: Written comments should be received on or before August 28, 2006 
to be assured of consideration.

ADDRESSES: Direct all written comments to Glenn Kirkland Internal 
Revenue Service, Room 6512, 1111 Constitution Avenue, NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form and instructions should be directed to Larnice Mack 
at Internal Revenue Service, Room 6512, 1111 Constitution Avenue, NW., 
Washington, DC 20224, or at (202) 622-3179, or through the internet at 
(Larnice.Mack@irs.gov).

SUPPLEMENTARY INFORMATION:
    Title: Application for Approval of Prototype or Employer Sponsored 
Individual Retirement Account.
    OMB Number: 1545-0393.
    Form Number: 5306.
    Abstract: This application is used by employers who want to 
establish an individual retirement account trust to be used by their 
employees. The application is also used by banks and insurance 
companies that want to establish approved prototype individual 
retirement accounts or annuities. The data collected are used to 
determine if the individual retirement account trust or annuity 
contract meets the requirements of Code section 408(a), 408(b), or 
408(c) so that the IRS may issue an approval letter.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 600.
    Estimated Time Per Respondent: 13 hours, 8 minutes.
    Estimated Total Annual Burden Hours: 7,878.
    The following paragraph applies to all of the collections of 
information covered by this notice:
    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 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 26 U.S.C. 6103.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record. Comments are invited 
on: (a) Whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information shall have practical utility; (b) the accuracy of the 
agency's estimate of the burden of the collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology; and (e) 
estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Approved: June 20, 2006.
Glenn Kirkland,
IRS Reports Clearance Office.
[FR Doc. E6-10067 Filed 6-26-06; 8:45 am]
BILLING CODE 4830-01-P
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