Proposed Collection; Comment Request for Revenue Procedure 2004-56, 60509 [2010-24486]

Download as PDF Federal Register / Vol. 75, No. 189 / Thursday, September 30, 2010 / Notices NW., Washington, DC 20224, or through the Internet, at Allan.M.Hopkins@irs.gov. mstockstill on DSKH9S0YB1PROD with NOTICES6 SUPPLEMENTARY INFORMATION: Title: Direct Rollovers and 20-Percent Withholding Upon Eligible Rollover Distributions From Qualified Plans. OMB Number: 1545–1341. Regulation Project Number: EE–43– 92. Abstract: This regulation implements the provisions of the Unemployment Compensation Amendments of 1992 (Pub. L. 102–318), which impose mandatory 20 percent income tax withholding upon the taxable portion of certain distributions from a qualified pension plan or a tax-sheltered annuity that can be rolled over tax-free to another eligible retirement plan unless such amounts are transferred directly to such other plan in a ‘‘direct rollover’’ transaction. These provisions also require qualified pension plans and taxsheltered annuities to offer their participants the option to elect to make ‘‘direct rollovers’’ of their distributions and to provide distributees with a written explanation of the tax laws regarding their distributions and their option to elect such a rollover. Current Actions: There is no change to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: Individuals, business or other for-profit organizations, not-forprofit institutions, and Federal, state, local or tribal governments. Estimated Number of Respondents: 10,323,926. Estimated Time Per Respondent: 13 minutes. Estimated Total Annual Burden Hours: 2,129,669. 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 VerDate Mar<15>2010 17:48 Sep 29, 2010 Jkt 220001 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: August 24, 2010. Gerald Shields, Supervisory Tax Analyst. [FR Doc. 2010–24489 Filed 9–29–10; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Revenue Procedure 2004– 56 Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: 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 Revenue Procedure 2004–56, Model 457 Plan Provisions. DATES: Written comments should be received on or before November 29, 2010 to be assured of consideration. ADDRESSES: Direct all written comments to Gerald Shields, Internal Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of revenue procedures should be directed to Allan Hopkins at Internal Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or at (202)622–6665, or through the Internet at Allan.M.Hopkins@irs.gov. SUPPLEMENTARY INFORMATION: SUMMARY: PO 00000 Frm 00106 Fmt 4703 Sfmt 9990 60509 Title: Model 457 Plan Provisions. OMB Number: 1545–1904. Revenue Procedure Number: Rev. Proc. 2004–56. Abstract: Revenue Procedure 2004–56 contains model amendments to be used by section 457(b) plans (deferred compensation plans) of State or local governments. Current Actions: There are no changes being made to the revenue procedures at this time. Type of Review: Extension of a currently approved collection. Affected Public: State, local or Tribal governments, and not-for-profit institutions. Estimated Number of Respondents/ Recordkeepers: 10,260. Estimated Annual Average Time Per Respondent/Recordkeeper: 4 hours. Estimated Total Annual Reporting/ Recordkeeping Hours: 41,040. 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: September 12, 2010. Allan Hopkins, Tax Analyst. [FR Doc. 2010–24486 Filed 9–29–10; 8:45 am] BILLING CODE 4830–01–P E:\FR\FM\30SEN1.SGM 30SEN1

Agencies

[Federal Register Volume 75, Number 189 (Thursday, September 30, 2010)]
[Notices]
[Page 60509]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-24486]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Revenue Procedure 2004-
56

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 
Revenue Procedure 2004-56, Model 457 Plan Provisions.

DATES: Written comments should be received on or before November 29, 
2010 to be assured of consideration.

ADDRESSES: Direct all written comments to Gerald Shields, Internal 
Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of revenue procedures should be directed to Allan Hopkins at 
Internal Revenue Service, room 6129, 1111 Constitution Avenue NW., 
Washington, DC 20224, or at (202)622-6665, or through the Internet at 
Allan.M.Hopkins@irs.gov.

SUPPLEMENTARY INFORMATION:
    Title: Model 457 Plan Provisions.
    OMB Number: 1545-1904.
    Revenue Procedure Number: Rev. Proc. 2004-56.
    Abstract: Revenue Procedure 2004-56 contains model amendments to be 
used by section 457(b) plans (deferred compensation plans) of State or 
local governments.
    Current Actions: There are no changes being made to the revenue 
procedures at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: State, local or Tribal governments, and not-for-
profit institutions.
    Estimated Number of Respondents/Recordkeepers: 10,260.
    Estimated Annual Average Time Per Respondent/Recordkeeper: 4 hours.
    Estimated Total Annual Reporting/Recordkeeping Hours: 41,040.
    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: September 12, 2010.
Allan Hopkins,
Tax Analyst.
[FR Doc. 2010-24486 Filed 9-29-10; 8:45 am]
BILLING CODE 4830-01-P