Proposed Collection; Comment Request for Form 5304-SIMPLE, Form 5305-SIMPLE, and Notice 98-4, 70882-70883 [2015-28903]

Agencies

• Internal Revenue Service
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 80, Number 220 (Monday, November 16, 2015)]
[Notices]
[Pages 70882-70883]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-28903]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 5304-SIMPLE, Form 
5305-SIMPLE, and Notice 98-4

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)). Currently, the IRS is soliciting comments concerning 
Form 5304-SIMPLE, Savings Incentive Match Plan for Employees of Small 
Employers (SIMPLE)--Not for Use With a Designated Financial 
Institution; Form 5305-SIMPLE, Savings Incentive Match Plan for 
Employees of Small Employers (SIMPLE)--for Use With a Designated 
Financial Institution; Notice 98-4, Simple IRA Plan Guidance.

DATES: Written comments should be received on or before January 15, 
2016 to be assured of consideration.

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

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the forms, instructions, and notice should be directed to 
Sara Covington, Internal Revenue Service, Room 6129, 1111 Constitution 
Avenue NW., Washington, DC 20224, or through the internet at 
Sara.L.Covington@irs.gov.

SUPPLEMENTARY INFORMATION: 
    Title: Form 5304-SIMPLE, Savings Incentive Match Plan for Employees 
of Small Employers (SIMPLE)--Not for Use With a Designated Financial 
Institution, Form 5305-SIMPLE; Savings Incentive Match Plan for 
Employees of Small Employers (SIMPLE)--for Use With a Designated 
Financial Institution; SIMPLE IRA Plan Guidance (Notice 98-4).
    OMB Number: 1545-1502.
    Form Number: Form 5304-SIMPLE, Form 5305-SIMPLE, and Notice 98-4.
    Abstract: Form 5304-SIMPLE is a model SIMPLE IRA agreement that was 
created to be used by an employer to permit employees who are not using 
a designated financial institution to make salary reduction 
contributions to a SIMPLE IRA described in Internal Revenue Code 
section 408(p). Form 5305-SIMPLE is also a model SIMPLE IRA agreement, 
but it is for use with a designated financial institutions. Notice 98-4 
provides guidance for employers and trustees regarding how they can 
comply with the requirements of Code section 408(p) in establishing and 
maintaining a SIMPLE IRA, including information regarding the 
notification and reporting requirements under Code section 408.
    Current Actions: There are no changes for the forms at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations not-
for-profit institutions, and individuals.
    Estimated Number of Respondents: 600,000.
    Estimated Time Per Respondent: 3 hours, 31 minutes.
    Estimated Total Annual Burden Hours: 2,113,000.
    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.


[[Page 70883]]

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: November 6, 2015.
Michael Joplin,
IRS Supervisory Tax Analyst.
[FR Doc. 2015-28903 Filed 11-13-15; 8:45 am]
BILLING CODE 4830-01-P