Proposed Extension of Information Collection Request Submitted for Public Comment; Form 5500, Annual Return/Report of Employee Benefit Plan, 35843-35844 [2010-15092]
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Federal Register / Vol. 75, No. 120 / Wednesday, June 23, 2010 / Notices
mstockstill on DSKH9S0YB1PROD with NOTICES
the reporting burden on the public and
helps the public understand the
Department’s information collection
requirements and provide the requested
data in the desired format. Currently,
the Employee Benefits Security
Administration is soliciting comments
on the proposed extension of the
information collection provisions of
Prohibited Transaction Class Exemption
85–68. A copy of the information
collection request (ICR) may be obtained
by contacting the office listed in the
ADDRESSES section of this notice.
DATES: Written comments must be
submitted to the office shown in the
ADDRESSES section on or before August
23, 2010.
ADDRESSES: G. Christopher Cosby,
Department of Labor, Employee Benefits
Security Administration, 200
Constitution Avenue, NW., Washington,
DC 20210, (202) 693–8410, FAX (202)
693–4745 (these are not toll-free
numbers).
SUPPLEMENTARY INFORMATION:
I. Background
Pursuant to section 408 of ERISA, the
Department has authority to grant an
exemption from the prohibitions of
sections 406 and 407(a) if it can
determine that the exemption is
administratively feasible, in the interest
of participants and beneficiaries, and
protective of the rights of participants
and beneficiaries of the plan. Prohibited
Transaction Class Exemption 85–68
describes the conditions under which a
plan is permitted to acquire customer
notes accepted by an employer of
employees covered by the plan in the
ordinary course of the employer’s
primary business activity. The
exemption covers sales as well as
contributions of customer notes by an
employer to its plan. Specifically, the
exemption requires that the employer
provide a written guarantee to
repurchase a note which becomes more
than 60 days delinquent, that such notes
be secured by a perfected security
interest in the property financed by the
note, and that the collateral be insured.
The exemption requires records
pertaining to the transaction to be
maintained for a period of six years for
the purpose of ensuring that the
transactions are protective of the rights
of participants and beneficiaries. This
recordkeeping requirement constitutes
an information collection within the
meaning of the PRA, for which the
Department has obtained approval from
the Office of Management and Budget
(OMB) under OMB Control No. 1210–
0094. The OMB approval is currently
scheduled to expire on August 31, 2010.
VerDate Mar<15>2010
16:17 Jun 22, 2010
Jkt 220001
II. Current Actions
This notice requests public comment
pertaining to the Department’s request
for extension of OMB approval of the
information collection contained in PTE
85–68. After considering comments
received in response to this notice, the
Department intends to submit an ICR to
OMB for continuing approval. No
change to the existing ICR is proposed
or made at this time. An agency may not
conduct or sponsor, and a person is not
required to respond to, an information
collection unless it displays a valid
OMB control number. A summary of the
ICR and the current burden estimates
follows:
Agency: Employee Benefits Security
Administration, Department of Labor.
Title: Prohibited Transaction Class
Exemption 85–68.
Type of Review: Extension of a
currently approved collection of
information.
OMB Number: 1210–0094.
Affected Public: Individuals or
households; Business or other for-profit;
Not-for-profit institutions.
Respondents: 325.
Frequency: On Occasion.
Responses: 325.
Estimated Hour Burden: 1 hour.
Estimated Total Burden Cost: $0.
III. Focus of Comments
The Department of Labor
(Department) is particularly interested
in comments that:
• Evaluate whether the proposed
collection of information is necessary
for the proper performance of the
functions of the agency, including
whether the information will have
practical utility;
• Evaluate the accuracy of the
agency’s estimate of the burden of the
proposed collection of information,
including the validity of the
methodology and assumptions used;
• Enhance the quality, utility, and
clarity of the information to be
collected; and
• Minimize the burden of the
collection of information on those who
are to respond, including through the
use of appropriate automated,
electronic, mechanical, or other
technological collection techniques or
other forms of information technology,
e.g., by permitting electronic
submissions of responses.
Comments submitted in response to
this notice will be summarized and/or
included in the ICR for OMB approval
of the extension of the information
collection; they will also become a
matter of public record.
PO 00000
Frm 00080
Fmt 4703
Sfmt 4703
35843
Dated: June 16, 2010.
Joseph S. Piacentini,
Director, Office of Policy and Research,
Employee Benefits Security Administration.
[FR Doc. 2010–15093 Filed 6–22–10; 8:45 am]
BILLING CODE 4510–29–P
DEPARTMENT OF LABOR
Employee Benefits Security
Administration
Proposed Extension of Information
Collection Request Submitted for
Public Comment; Form 5500, Annual
Return/Report of Employee Benefit
Plan
AGENCY: Employee Benefits Security
Administration, Department of Labor.
ACTION: Notice.
SUMMARY: The Department of Labor (the
Department), in accordance with the
Paperwork Reduction Act of 1995 (PRA
95) (44 U.S.C. 3506(c)(2)(A)), provides
the general public and Federal agencies
with an opportunity to comment on
proposed and continuing collections of
information. This helps the Department
assess the impact of its information
collection requirements and minimize
the reporting burden on the public and
helps the public understand the
Department’s information collection
requirements and provide the requested
data in the desired format. Currently,
the Employee Benefits Security
Administration is soliciting comments
on the proposed extension of the
information collection provisions of
Form 5500, Annual Return/Report of
Employee Benefit Plan. A copy of the
information collection request (ICR)
may be obtained by contacting the office
listed in the ADDRESSES section of this
notice.
DATES: Written comments must be
submitted to the office shown in the
ADDRESSES section on or before August
23, 2010.
ADDRESSES: G. Christopher Cosby,
Department of Labor, Employee Benefits
Security Administration, 200
Constitution Avenue, NW., Washington,
DC 20210, (202) 693–8410, FAX (202)
693–4745 (these are not toll-free
numbers).
SUPPLEMENTARY INFORMATION:
I. Background
The Employee Retirement Income
Security Act of 1974 (ERISA) contains
three separate sets of provisions—in
Title I (Labor provisions), Title II
(Internal Revenue Code provisions), and
Title IV (PBGC provisions)—requiring
administrators of employee benefit
E:\FR\FM\23JNN1.SGM
23JNN1
35844
Federal Register / Vol. 75, No. 120 / Wednesday, June 23, 2010 / Notices
pension and welfare plans (collectively
referred to as employee benefit plans) to
file returns or reports annually with the
federal government.
Since enactment of ERISA, PBGC, the
Department of Labor (DOL), and the
Internal Revenue Service (IRS)
(collectively, the Agencies), have
worked collaboratively to produce the
Form 5500 Annual Return/Report (Form
5500), through which the regulated
public can satisfy the combined
reporting/filing requirements applicable
to employee benefit plans.
The Form 5500 is the primary source
of information concerning the operation,
funding, assets and investments of
pension and other employee benefit
plans. In addition to being an important
disclosure document for plan
participants and beneficiaries, the Form
5500 is a compliance and research tool
for the Agencies, and a source of
information for use by other federal
agencies, Congress, and the private
sector in assessing employee benefit,
tax, and economic trends and policies.
On November 16, 2007, the Agencies
adopted revisions to the Form 5500 in
order to update and streamline the
annual reporting process in conjunction
with establishing a wholly electronic
processing system for the receipt of the
Form 5500 Annual Return/Reports and
to conform the forms and instructions to
the provisions of the Pension Protection
Act of 2006 (PPA).
The Form 5500 constitutes an
information collection within the
meaning of the PRA, for which the
Department has obtained approval from
the Office of Management and Budget
(OMB) under OMB Control No. 1210–
0110. The OMB approval is currently
scheduled to expire on September 30,
2010. An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless it displays a currently valid OMB
control number.
mstockstill on DSKH9S0YB1PROD with NOTICES
II. Current Actions
This notice requests public comment
pertaining to the Department’s request
for extension of OMB approval of the
information collection contained in the
Form 5500. After considering comments
received in response to this notice, the
Department intends to submit an ICR to
OMB for continuing approval. No
change to the existing ICR is proposed
or made at this time. An agency may not
conduct or sponsor, and a person is not
required to respond to, an information
collection unless it displays a valid
OMB control number. A summary of the
ICR and the current burden estimates
follows:
VerDate Mar<15>2010
16:17 Jun 22, 2010
Jkt 220001
Agency: Employee Benefits Security
Administration, Department of Labor.
Title: Annual Information Return/
Report.
Type of Review: Extension of a
currently approved collection of
information.
OMB Number: 1210–0110.
Affected Public: Business or other forprofit; Not-for-profit institutions.
Respondents: 780,000.
Responses: 780,000.
Estimated Total Burden Hours:
530,000.
Estimated Total Burden Cost
(Operating and Maintenance):
$178,000,000.
III. Focus of Comments
The Department of Labor
(Department) is particularly interested
in comments that:
• Evaluate whether the proposed
collection of information is necessary
for the proper performance of the
functions of the agency, including
whether the information will have
practical utility;
• Evaluate the accuracy of the
agency’s estimate of the burden of the
proposed collection of information,
including the validity of the
methodology and assumptions used;
• Enhance the quality, utility, and
clarity of the information to be
collected; and
• Minimize the burden of the
collection of information on those who
are to respond, including through the
use of appropriate automated,
electronic, mechanical, or other
technological collection techniques or
other forms of information technology,
e.g., by permitting electronic
submissions of responses.
Comments submitted in response to
this notice will be summarized and/or
included in the ICR for OMB approval
of the extension of the information
collection; they will also become a
matter of public record.
Dated: June 16, 2010.
Joseph S. Piacentini,
Acting Assistant Secretary, Employee Benefits
Security Administration.
[FR Doc. 2010–15092 Filed 6–22–10; 8:45 am]
BILLING CODE 4510–29–P
LEGAL SERVICES CORPORATION
meeting will begin at 11 a.m. (Eastern
Time) and continue until conclusion of
the Committee’s agenda.
LOCATION: Legal Services Corporation,
3333 K Street, NW., Washington, DC,
20007, 3rd Floor Conference Center.
STATUS OF MEETING: Closed: The meeting
of the Search Committee may be closed
to the public pursuant to a vote of the
Board of Directors authorizing the
Committee to consider and perhaps act
on proposals submitted by bidding
executive search firms and to evaluate
the qualifications of the firms. This
closure will be authorized by the
relevant provisions of the Government
in the Sunshine Act [5 U.S.C. 552b(c)(4)
and (6)] and LSC’s implementing
regulation 45 CFR 1622.5(c) 1 and (e).2
A verbatim written transcript will be
made of the closed session of the Board
meeting. However, the transcript of any
portions of the closed session falling
within the relevant provisions of the
Government in the Sunshine Act [5
U.S.C. 552b(c)(4) and (6)] and LSC’s
implementing regulation 45 CFR
1622.5(c) and (e), will not be available
for public inspection. A copy of the
General Counsel’s Certification that in
his opinion the closing is authorized by
law will be available upon request.
MATTERS TO BE CONSIDERED:
CLOSED SESSION:
1. Approval of agenda.
2. Consider and act on proposals
submitted by and evaluate the
qualifications of executive search firms
that submitted proposals for contract to
assist in recruitment of a new president.
3. Consider and act on other business.
4. Consider and act on adjournment of
meeting.
CONTACT PERSON FOR INFORMATION:
Kathleen Connors, Executive Assistant
to the President, at (202) 295–1500.
Questions may be sent by electronic
mail to
FR_NOTICE_QUESTIONS@lsc.gov.
SPECIAL NEEDS: Upon request, meeting
notices will be made available in
alternate formats to accommodate visual
and hearing impairments. Individuals
who have a disability and need an
accommodation to attend the meeting
may notify Kathleen Connors at (202)
295–1500 or
FR_NOTICE_QUESTIONS@lsc.gov.
Sunshine Act Meeting Notice
The Legal Services
Corporation Board of Directors’ Search
Committee for LSC President (‘‘Search
Committee’’ or ‘‘Committee’’) will meet
telephonically on June 25, 2010. The
TIME AND DATE:
PO 00000
Frm 00081
Fmt 4703
Sfmt 4703
1 45 CFR 1622.5(c)—Protects information the
disclosure of which would disclose trade secrets
and commercial or financial information which is
confidential.
2 45 CFR 1622.5(e)—Protects information the
disclosure of which would constitute a clearly
unwarranted invasion of personal privacy.
E:\FR\FM\23JNN1.SGM
23JNN1
]]>Agencies
[Federal Register Volume 75, Number 120 (Wednesday, June 23, 2010)]
[Notices]
[Pages 35843-35844]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-15092]
-----------------------------------------------------------------------
DEPARTMENT OF LABOR
Employee Benefits Security Administration
Proposed Extension of Information Collection Request Submitted
for Public Comment; Form 5500, Annual Return/Report of Employee Benefit
Plan
AGENCY: Employee Benefits Security Administration, Department of Labor.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Department of Labor (the Department), in accordance with
the Paperwork Reduction Act of 1995 (PRA 95) (44 U.S.C. 3506(c)(2)(A)),
provides the general public and Federal agencies with an opportunity to
comment on proposed and continuing collections of information. This
helps the Department assess the impact of its information collection
requirements and minimize the reporting burden on the public and helps
the public understand the Department's information collection
requirements and provide the requested data in the desired format.
Currently, the Employee Benefits Security Administration is soliciting
comments on the proposed extension of the information collection
provisions of Form 5500, Annual Return/Report of Employee Benefit Plan.
A copy of the information collection request (ICR) may be obtained by
contacting the office listed in the ADDRESSES section of this notice.
DATES: Written comments must be submitted to the office shown in the
Addresses section on or before August 23, 2010.
ADDRESSES: G. Christopher Cosby, Department of Labor, Employee Benefits
Security Administration, 200 Constitution Avenue, NW., Washington, DC
20210, (202) 693-8410, FAX (202) 693-4745 (these are not toll-free
numbers).
SUPPLEMENTARY INFORMATION:
I. Background
The Employee Retirement Income Security Act of 1974 (ERISA)
contains three separate sets of provisions--in Title I (Labor
provisions), Title II (Internal Revenue Code provisions), and Title IV
(PBGC provisions)--requiring administrators of employee benefit
[[Page 35844]]
pension and welfare plans (collectively referred to as employee benefit
plans) to file returns or reports annually with the federal government.
Since enactment of ERISA, PBGC, the Department of Labor (DOL), and
the Internal Revenue Service (IRS) (collectively, the Agencies), have
worked collaboratively to produce the Form 5500 Annual Return/Report
(Form 5500), through which the regulated public can satisfy the
combined reporting/filing requirements applicable to employee benefit
plans.
The Form 5500 is the primary source of information concerning the
operation, funding, assets and investments of pension and other
employee benefit plans. In addition to being an important disclosure
document for plan participants and beneficiaries, the Form 5500 is a
compliance and research tool for the Agencies, and a source of
information for use by other federal agencies, Congress, and the
private sector in assessing employee benefit, tax, and economic trends
and policies.
On November 16, 2007, the Agencies adopted revisions to the Form
5500 in order to update and streamline the annual reporting process in
conjunction with establishing a wholly electronic processing system for
the receipt of the Form 5500 Annual Return/Reports and to conform the
forms and instructions to the provisions of the Pension Protection Act
of 2006 (PPA).
The Form 5500 constitutes an information collection within the
meaning of the PRA, for which the Department has obtained approval from
the Office of Management and Budget (OMB) under OMB Control No. 1210-
0110. The OMB approval is currently scheduled to expire on September
30, 2010. An agency may not conduct or sponsor, and a person is not
required to respond to, a collection of information unless it displays
a currently valid OMB control number.
II. Current Actions
This notice requests public comment pertaining to the Department's
request for extension of OMB approval of the information collection
contained in the Form 5500. After considering comments received in
response to this notice, the Department intends to submit an ICR to OMB
for continuing approval. No change to the existing ICR is proposed or
made at this time. An agency may not conduct or sponsor, and a person
is not required to respond to, an information collection unless it
displays a valid OMB control number. A summary of the ICR and the
current burden estimates follows:
Agency: Employee Benefits Security Administration, Department of
Labor.
Title: Annual Information Return/Report.
Type of Review: Extension of a currently approved collection of
information.
OMB Number: 1210-0110.
Affected Public: Business or other for-profit; Not-for-profit
institutions.
Respondents: 780,000.
Responses: 780,000.
Estimated Total Burden Hours: 530,000.
Estimated Total Burden Cost (Operating and Maintenance):
$178,000,000.
III. Focus of Comments
The Department of Labor (Department) is particularly interested in
comments that:
Evaluate whether the proposed collection of information is
necessary for the proper performance of the functions of the agency,
including whether the information will have practical utility;
Evaluate the accuracy of the agency's estimate of the
burden of the proposed collection of information, including the
validity of the methodology and assumptions used;
Enhance the quality, utility, and clarity of the
information to be collected; and
Minimize the burden of the collection of information on
those who are to respond, including through the use of appropriate
automated, electronic, mechanical, or other technological collection
techniques or other forms of information technology, e.g., by
permitting electronic submissions of responses.
Comments submitted in response to this notice will be summarized
and/or included in the ICR for OMB approval of the extension of the
information collection; they will also become a matter of public
record.
Dated: June 16, 2010.
Joseph S. Piacentini,
Acting Assistant Secretary, Employee Benefits Security Administration.
[FR Doc. 2010-15092 Filed 6-22-10; 8:45 am]
BILLING CODE 4510-29-P
