Proposed Collection; Comment Request for Regulation Project., 50738 [2014-20168]

Agencies

• Internal Revenue Service
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 79, Number 164 (Monday, August 25, 2014)]
[Notices]
[Page 50738]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-20168]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Regulation Project.

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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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)). The IRS is soliciting comments concerning information 
collection requirements related to new technologies in retirement 
plans.

DATES: Written comments should be received on or before October 24, 
2014 to be assured of consideration.

ADDRESSES: Direct all written comments to R. Joseph Durbala, Internal 
Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the regulations should be directed to LaNita Van Dyke at 
Internal Revenue Service, Room 6517, 1111 Constitution Avenue NW., 
Washington, DC 20224, or through the Internet at 
Lanita.VanDyke@irs.gov.

SUPPLEMENTARY INFORMATION: 
    Title: New Technologies in Retirement Plans.
    OMB Number: 1545-1632.
    Regulation Project Number: T.D. 8873.
    Abstract: This document contains amendments to the regulations 
governing certain notices and consents required in connection with 
distributions from retirement plans. Specifically, these regulations 
set forth applicable standards for the transmission of those notices 
and consents through electronic media and modify the timing 
requirements for providing certain distribution-related notices. The 
regulations provide guidance to plan sponsors and administrators by 
interpreting the notice and consent requirements in the context of the 
electronic administration of retirement plans. The regulations affect 
retirement plan sponsors, administrators, and participants.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Responses: 11,700,000.
    Estimated Total Burden Hours: 477,563.
    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: August 14, 2014.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. 2014-20168 Filed 8-22-14; 8:45 am]
BILLING CODE 4830-01-P