Proposed Collection; Comment Request for the Annual Return/Report of Employee Benefit Plan, 18687-18691 [2016-07217]

Download as PDF Federal Register / Vol. 81, No. 62 / Thursday, March 31, 2016 / Notices 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 an existing final regulation, (TD 9679), Information Reporting by Passport Applicants. SUMMARY: Written comments should be received on or before May 31, 2016 to be assured of consideration. ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal Revenue Service, room 6526, 1111 Constitution Avenue NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of this regulation should be directed to LaNita Van Dyke, Internal Revenue Service, room 6517, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at Lanita.VanDyke@irs.gov. SUPPLEMENTARY INFORMATION: Title: Information Reporting by Passport Applicants. OMB Number: 1545–1359. Regulation Project Number: (TD 9679)(final). Abstract: These final regulations provide information reporting rules for certain passport applicants. These final regulations apply to certain individuals applying for passports (including renewals) and provide guidance to such individuals about the information that must be included with their passport application. Current Actions: There is no change to the total burden of these final regulations. Type of Review: Extension of a currently approved collection. Affected Public: Individuals or households. Estimated Number of Respondents for Passport Applicants: 5,000,000. Estimated Time Per Respondent: 6 minutes. Estimated Total Annual Burden Hours for Passport Applicants: 500,000. Estimated Number of Respondent’s for Permanent Resident Applicants: 500,000. Estimated Time Per Respondent: 30 minutes. mstockstill on DSK4VPTVN1PROD with NOTICES DATES: VerDate Sep<11>2014 19:09 Mar 30, 2016 Jkt 238001 Estimated Total Annual Burden Hours for Permanent Residence Applicants: 250,000 hours. 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: March 15, 2016. Tuawana Pinkston, IRS Reports Clearance Officer. [FR Doc. 2016–07219 Filed 3–30–16; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for the Annual Return/Report of Employee Benefit Plan 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 SUMMARY: PO 00000 Frm 00124 Fmt 4703 Sfmt 4703 18687 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 the Annual Return/Report of Employee Benefit Plan. DATES: Written comments should be received on or before May 31, 2016 to be assured of consideration. ADDRESSES: Direct all written comments to Tuawana Pinkston, 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 and instructions should be directed to R. Joseph Durbala at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at RJoseph.Durbala@irs.gov. SUPPLEMENTARY INFORMATION: Title: Annual Return/Report of Employee Benefit Plan. OMB Number: 1545–1610. Form Number: 5500 and Schedules. Abstract: The Annual Return/Report of Employee Benefit Plan is an annual information return filed by employee benefit plans. The IRS uses this information for a variety of matters, including ascertainment whether a qualified retirement plan appears to conform to requirements under the Internal Revenue Code or whether the plan should be audited for compliance. Current Actions: PBGC, the Department of Labor (DOL), and the Internal Revenue Service (IRS) work together to produce the Form 5500 Annual Return/Report for Employee Benefit Plan and Form 5500–SF Short Form Annual Return/Report for Small Employee Benefit Plan (Form 5500 Series), through which the regulated public can satisfy the combined reporting/filing requirements applicable to employee benefit plans. The IRS produces Form 5500–SUP, a paper-only form, that is used by certain sponsors and administrators of retirement plans to satisfy certain of the reporting requirements of section 6058 of the Internal Revenue Code. Form 5500–SUP should be used only if certain IRS compliance questions are not answered electronically on the Form 5500 or Form 5500–SF. E:\FR\FM\31MRN1.SGM 31MRN1 18688 Federal Register / Vol. 81, No. 62 / Thursday, March 31, 2016 / Notices IRS Proposed Changes on the 2016 Form 5500 Series Returns 1 a. Proposed 2016 Changes Form 5500 Sch. H/1, 5500SF, 5500-EZ, and 5500-SUP Name of trust b. Form Trust's EIN a. Name of trust b. • Trust's EIN • c. Name of trustee or custodian c. Name of trustee or custodian d. 2 Compliance and Use for Trustee's or custodian's telephone number d. Trustee's or custodian's telephone number a. Preparer's name (including firm name, if applicable) and address (include room or suite number) a. Preparer's name (including firm name, if applicable) and address (include room or suite number) b. Preparer's telephone number Forms 5500, 5500SF, 5500EZ, and 5500Sup. b. • • Preparer's telephone number • 3 a. Is the plan a 401(k) plan? Yes D b. D No Form 5500 Sch R, 5500-SF, and 5500-SUP. If /{Yes," how does the 401(k) plan satisfy the nondiscrimination requirements for employee deferrals and employer matching contributions (as applicable) under sections 401(k)(3) and 401(m)(2)? (See instructions) Design-based safe harbor method ADP/ACPtest a. D mstockstill on DSK4VPTVN1PROD with NOTICES VerDate Sep<11>2014 b. Jkt 238001 How did the plan satisfy the nondiscrimination requirements for employee deferrals under sections 401(k)(3) for the plan year? Check all that apply: Design-based safe harbor /{Prior year" ADP • D D test D /{Current year" ADP test D N/A If ADP/ACP test is used, did the 401(k) plan perform ADP/ACP testing for the plan year using 19:09 Mar 30, 2016 D If /{No," skip b. D D c. Is the plan a 401(k) plan? Yes No This question was approved by OMB for the 2015 Form 5500 Series. Requiring trust identifying information will assist the IRS in discharging its basic tax compliance and enforcement responsibilities with respect to tax-favored trusts. This question was on former Schedule P up to 2006 where it had been approved in an information collection. • This question was approved by OMB for the 2015 Form 5500 Series. Information on Form 5500 Series preparers will assist the IRS in identifying preparers who have engaged in patterns of noncompliance. Preparer questions were on Form 5500 through 2009 and after 2011 where they had been approved in an information collection. This question seeks basic information on the method by which a 401(k) plan satisfied the nondiscrimination requirements for employee deferrals. This information is fundamental to IRS's ability to monitor plans for compliance with the nondiscrimination rules. PO 00000 Frm 00125 Fmt 4703 Sfmt 4725 E:\FR\FM\31MRN1.SGM 31MRN1 EN31MR16.009</GPH> Question on the 2015 Form 5500s Federal Register / Vol. 81, No. 62 / Thursday, March 31, 2016 / Notices 18689 the "current year testing method" for non highly compensated employees (Treas. Reg sections 1.401(k)2(a)(2)(ii) and 1.401(m)-2(a)(2)(ii))? n n a. Yes No Check the box to indicate the method used by the plan to satisfy the coverage requirements under section 410(b): ~ Form 5500 Sch R, 5500SF, and 5500-SUP, a. Ratio percentage test ~ Average benefit test b. Does the plan satisfy the coverage and nondiscrimination tests of sections 410(b) and 401(a)(4) by combining this plan with any other plans under the permissive aggregation rules? Yes No D 5 D Yes D No I f "Yes," enter amount b. D Were in-service distributions made during the plan year? --- What testing method was used to satisfy the coverage requirements under section 410(b) for the plan year? Check all that apply: Ratio percentage test Average benefit test Did the plan trust incur unrelated business taxable income? DYes D No D mstockstill on DSK4VPTVN1PROD with NOTICES N/A If Yes, enter amount _ _ VerDate Sep<11>2014 19:09 Mar 30, 2016 Jkt 238001 Form 5500, Sch H/I, 5500SF, 5500EZ, and PO 00000 This question seeks basic information on the method by which a qualified plan satisfied the minimum coverage requirements on employee participation. This information is fundamental to IRS's ability to monitor plans for compliance with the minimum coverage rules. This question was on former Schedule T where it had been approved in an information collection. Did the plan satisfy the coverage and nondiscrimination requirements of sections 410(b) and 401(a)(4) for the plan year by combining this plan with any other plan under the permissive aggregation rules? Yes No n • Defined Benefit Plan or Money Purchase Pension Plan only: Were any distributions made during the plan year to an employee who attained age 62 and had not separated from service? No Yes D 6 • N/A n Form 5500 Sch H/I, 5500SF, 5500EZ, and 5500SUP • This question should assist in the identification of whether distributions to employees are being made before otherwise permissible in a defined benefit or money purchase plan. D Deleted Frm 00126 Fmt 4703 Sfmt 4725 E:\FR\FM\31MRN1.SGM 31MRN1 EN31MR16.010</GPH> 4 18690 Federal Register / Vol. 81, No. 62 / Thursday, March 31, 2016 / Notices 5500SUP 7 a. Has the Plan been timely amended for all required law changes? b. Date the last Plan amendment/restatement for the required law changes was adopted_I_1__ . Enter the applicable code __ (See instructions for tax law changes and codes). Sch R Line 23a 5500-SF 17a 5500SUP, Line 6a 5500EZ, Line 13a a. mstockstill on DSK4VPTVN1PROD with NOTICES 8 • This information identifies plans to which special rules apply that require minimum distributions to a participant regardless of whether he or she continues in employment. The information will assist the IRS to monitor plan compliance. number If the plan sponsor is an adopter of a pre-approved master, prototype (M&P), or volume submitter plan that is subject to a favorable opinion or advisory letter from IRS, please enter the date of plan's last opinion or advisory letter- - - and a I I letter serial number If the plan is an individually-designed plan that received a favorable determination letter from the IRS, enter the date of the most recent determination letter - If the plan is an individually -designed plan and received a favorable determination letter from IRS, please enter the date of plan's last favorable determination letter I I Were required minimum distributions made to 5% owners who have attained age 70 Y, (regardless of whether or not retired), as required under section 401(a)(9)? No Yes D N/A VerDate Sep<11>2014 Whether and when a plan received a favorable opinion letter, advisory letter or determination letter from the IRS is a significant indicator of whether the form of the plan satisfies the qualification requirements under section 40l(a). D 19:09 Mar 30, 2016 Form 5500-SF and 5500-EZ only Was any plan participant a 5% owner who had attained at least age 70 Y, during the prior plan year? DYes D No D Jkt 238001 PO 00000 Frm 00127 Fmt 4703 Sfmt 4725 E:\FR\FM\31MRN1.SGM 31MRN1 EN31MR16.011</GPH> d. • - - and the serial b. c. If the plan is a master and prototype plan (M&P) or volume submitter plan that received a favorable IRS opinion letter or advisory letter, enter the date of the letter The aforementioned changes will generate a decrease in burden by 20,000 hours and decrease the estimated number of filers by 16,000 per year. The paper submission of this form will generate 500 responses and 208 burden hours per year. Type of Review: Revision of a currently approved collection. Affected Public: Business or other forprofit organizations, individuals and households, not-for profit institutions, and farms. Estimated Number of Respondents: 806,500. Estimated Time per Respondent: 23 minutes. Estimated Total Annual Burden Hours: 320,208. 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. VerDate Sep<11>2014 19:09 Mar 30, 2016 Jkt 238001 Approved: March 24, 2016. Tuawana Pinkston, IRS, Reports Clearance Officer. [FR Doc. 2016–07217 Filed 3–30–16; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Information Collection Tools 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 Form 972, Consent of Shareholder To Include Specific Amount in Gross Income. DATES: Written comments should be received on or before May 31, 2016 to be assured of consideration. ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the collection tools should be directed to LaNita Van Dyke, Internal Revenue Service, Room 6517, 1111 Constitution Avenue NW., Washington, DC 20224, or through the Internet at Lanita.VanDyke@irs.gov. SUPPLEMENTARY INFORMATION: Title: Consent of Shareholder To Include Specific Amount in Gross Income. OMB Number: 1545–0043. Form Number: 972. Abstract: Form 972 is filed by shareholders of corporations who agree to include a consent dividend in gross income as a taxable dividend. The IRS SUMMARY: PO 00000 Frm 00128 Fmt 4703 Sfmt 4703 18691 uses Form 972 as a check to see if an amended return is filed by the shareholder to include the amount in income and to determine if the corporation claimed the correct amount as a deduction on its tax return. Current Actions: There is no change in the paperwork burden previously approved by OMB. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 100. Estimated Time per Respondent: 3 hrs, 51 min. Estimated Total Annual Burden Hours: 385. 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. E:\FR\FM\31MRN1.SGM 31MRN1 EN31MR16.012</GPH> mstockstill on DSK4VPTVN1PROD with NOTICES Federal Register / Vol. 81, No. 62 / Thursday, March 31, 2016 / Notices

Agencies

[Federal Register Volume 81, Number 62 (Thursday, March 31, 2016)]
[Notices]
[Pages 18687-18691]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-07217]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for the Annual Return/Report 
of Employee Benefit Plan

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 
the Annual Return/Report of Employee Benefit Plan.

DATES: Written comments should be received on or before May 31, 2016 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Tuawana Pinkston, 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 and instructions should be directed to R. Joseph 
Durbala at Internal Revenue Service, Room 6129, 1111 Constitution 
Avenue NW., Washington, DC 20224, or through the internet at 
RJoseph.Durbala@irs.gov.

SUPPLEMENTARY INFORMATION:
    Title: Annual Return/Report of Employee Benefit Plan.
    OMB Number: 1545-1610.
    Form Number: 5500 and Schedules.
    Abstract: The Annual Return/Report of Employee Benefit Plan is an 
annual information return filed by employee benefit plans. The IRS uses 
this information for a variety of matters, including ascertainment 
whether a qualified retirement plan appears to conform to requirements 
under the Internal Revenue Code or whether the plan should be audited 
for compliance.
    Current Actions: PBGC, the Department of Labor (DOL), and the 
Internal Revenue Service (IRS) work together to produce the Form 5500 
Annual Return/Report for Employee Benefit Plan and Form 5500-SF Short 
Form Annual Return/Report for Small Employee Benefit Plan (Form 5500 
Series), through which the regulated public can satisfy the combined 
reporting/filing requirements applicable to employee benefit plans. The 
IRS produces Form 5500-SUP, a paper-only form, that is used by certain 
sponsors and administrators of retirement plans to satisfy certain of 
the reporting requirements of section 6058 of the Internal Revenue 
Code. Form 5500-SUP should be used only if certain IRS compliance 
questions are not answered electronically on the Form 5500 or Form 
5500-SF.

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    The aforementioned changes will generate a decrease in burden by 
20,000 hours and decrease the estimated number of filers by 16,000 per 
year. The paper submission of this form will generate 500 responses and 
208 burden hours per year.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations, 
individuals and households, not-for profit institutions, and farms.
    Estimated Number of Respondents: 806,500.
    Estimated Time per Respondent: 23 minutes.
    Estimated Total Annual Burden Hours: 320,208.
    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: March 24, 2016.
Tuawana Pinkston,
IRS, Reports Clearance Officer.
[FR Doc. 2016-07217 Filed 3-30-16; 8:45 am]
BILLING CODE 4830-01-P