Proposed Information Collection Request Submitted for Public Comment; Comment Request Relating to Annual Certification for Multiemployer Defined Benefit Plans, 38020-38021 [2020-13519]

Download as PDF 38020 Federal Register / Vol. 85, No. 122 / Wednesday, June 24, 2020 / Notices Identified pursuant to E.O. 13850, as amended by E.O. 13857, as property in which DELOS VOYAGER SHIPPING LTD, a person whose property and interest in property are blocked pursuant to E.O. 13850, as amended by E.O. 13857, has an interest. Dated: June 18, 2020. Andrea Gacki, Director, Office of Foreign Assets Control, U.S. Department of the Treasury. Entities 1. AFRANAV MARITIME LTD, Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, MH 96960, Marshall Islands; Identification Number IMO 6063849 [VENEZUELA–EO13850]. 2. SEACOMBER LTD, 94 Poseidonos Avenue & 2, Nikis Street, Glyfada, Athens 166 75, Greece; Identification Number IMO 4217141 [VENEZUELA– EO13850]. [FR Doc. 2020–13587 Filed 6–23–20; 8:45 am] BILLING CODE 4810–AL–P DEPARTMENT OF THE TREASURY Office of Foreign Assets Control Notice of OFAC Sanctions Actions Office of Foreign Assets Control, Department of the Treasury. ACTION: Notice. AGENCY: The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons that have been removed from OFAC’s Specially Designated Nationals and Blocked Persons List (SDN List). Their property and interests in property are no longer blocked, and U.S. persons are no longer generally prohibited from engaging in transactions with them. OFAC is also removing the name of two vessels that had been identified as blocked property. DATES: See SUPPLEMENTARY INFORMATION section. FOR FURTHER INFORMATION CONTACT: OFAC: Associate Director for Global Targeting, tel: 202–622–2420; Assistant Director for Licensing, tel.: 202–622– 2480; Assistant Director for Regulatory Affairs, tel.: 202–622–4855; or Assistant Director for Sanctions Compliance & Evaluation, tel.: 202–622–2490. SUPPLEMENTARY INFORMATION: SUMMARY: jbell on DSKJLSW7X2PROD with NOTICES Electronic Availability The SDN List and additional information concerning OFAC sanctions programs are available on OFAC’s website (https://www.treasury.gov/ofac). Notice of OFAC Actions On June 2, 2020, OFAC determined that the persons listed below met one or more of the criteria under Executive Order (E.O.) 13850, ‘‘Blocking Property of Additional Persons Contributing to the Situation in Venezuela,’’ as amended by Executive Order 13857, ‘‘Taking Additional Steps to Address the National Emergency with Respect to Venezuela,’’ of January 25, 2019. Also on June 2, 2020, OFAC identified the two vessels listed below as blocked VerDate Sep<11>2014 18:20 Jun 23, 2020 Jkt 250001 property pursuant to E.O. 13850. On June 16, 2020, OFAC determined that circumstances no longer warrant the inclusion of the following entities and their property on the SDN List under this authority. These entities and vessels are no longer subject to the blocking provisions of Section 1(a) of E.O. 13850. Vessels 1. ATHENS VOYAGER Crude Oil Tanker Panama flag; Vessel Registration Identification IMO 9337391 (vessel) [VENEZUELA–EO13850] (Linked To: AFRANAV MARITIME LTD). 2. CHIOS I Crude Oil Tanker Malta flag; Vessel Registration Identification IMO 9792187 (vessel) [VENEZUELA– EO13850] (Linked To: SEACOMBER LTD). Dated: June, 16, 2020. Andrea M. Gacki, Director, Office of Foreign Assets Control. [FR Doc. 2020–13586 Filed 6–23–20; 8:45 am] BILLING CODE 4810–AL–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Information Collection Request Submitted for Public Comment; Comment Request Relating to Annual Certification for Multiemployer Defined Benefit Plans Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the 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. Currently, the IRS is soliciting comments concerning guidance to the annual certification for Multiemployer Defined Benefit Plans. DATES: Written comments should be received on or before August 24, 2020 to be assured of consideration. SUMMARY: PO 00000 Frm 00201 Fmt 4703 Sfmt 4703 Direct all written comments to Kinna Brewington, Internal Revenue Service, Room 6529, 1111 Constitution Avenue NW, Washington, DC 20224. Requests for additional information or copies of the regulations should be directed to Ronald J. 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 Certification for Multiemployer Defined Benefit Plans. OMB Number: 1545–2111. Regulation Project Number: REG– 151135–07. Abstract: Section 432(b)(3)(A) requires an actuarial certification of whether a multiemployer plan is in endangered status, and whether a multiemployer plan is or will be in critical status, for each plan year. This certification must be completed by the 90th day of the plan year and must be provided to the Secretary of the Treasury and to the plan sponsor. If the certification is with respect to a plan year that is within the plan’s funding improvement period or rehabilitation period arising from a prior certification of endangered or critical status, the actuary must also certify whether the plan is making scheduled progress in meeting the requirements of its funding improvement or rehabilitation plan. Actuaries submit certifications in various formats and lengths. The creation of an established form would limit the submissions to the information required within an annual certification, reducing the burden to all those affected. Current Actions: This is a new request for a proposed form for actuaries to report the funding status of multiemployer defined benefit retirement plans. Actuaries have been required to submit certifications regarding plans’ funding statuses since 2008 under IRC 432, but we are proposing a form to encourage consistency of the format of certifications submitted annually and to simplify the process. Type of Review: Existing collection in use without an OMB control number. Affected Public: Not-for-profit institutions, business or other for-profit organizations. Estimated Number of Respondents: 1,600. Estimated Time per Respondent: 45 min. Estimated Total Annual Burden Hours: 1,200. The following paragraph applies to all the collections of information covered by this notice: ADDRESSES: E:\FR\FM\24JNN1.SGM 24JNN1 Federal Register / Vol. 85, No. 122 / Wednesday, June 24, 2020 / Notices 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 if 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. Desired Focus of Comments: The Internal Revenue Service (IRS) 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 using 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. Approved: June 16, 2020. Ronald J. Durbala, IRS Tax Analyst. [FR Doc. 2020–13519 Filed 6–23–20; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY jbell on DSKJLSW7X2PROD with NOTICES Internal Revenue Service Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request on Burden Related to the Quarterly Federal Excise Tax Return Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: VerDate Sep<11>2014 18:20 Jun 23, 2020 Jkt 250001 The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the 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. Currently, the IRS is soliciting comments concerning the burden associated with the quarterly federal excise tax return. DATES: Written comments should be received on or before August 24, 2020 to be assured of consideration. ADDRESSES: Direct all written comments to Kinna Brewington, Internal Revenue Service, Room 6529, 1111 Constitution Avenue NW, Washington, DC 20224. Requests for additional information or copies of the regulations should be directed to Ronald J. 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: Quarterly Federal Excise Tax Return. OMB Number: 1545–0023. Form Number: 720. Abstract: Excise taxes are taxes paid when purchases are made on a specific good, such as gasoline. 26 U.S.C. 4081 imposes tax for miscellaneous excise taxes, manufacturers excise taxes, automotive and related items, petroleum products and motor and aviation fuel. Form 720, Quarterly Federal Excise Tax Return, is used to report liability by IRS number and to pay the excise taxes listed on the form. Current Actions: Updated filing estimates will result in a decrease to the estimated annual respondents by 225,744 responses per year. This decrease will lower the burden by an estimated 2,302,176 hours. This request is being submitted for renewal purposes. Type of Review: Revision of a currently approved collection. Affected Public: Business or other forprofit organizations, individuals, notfor-profit institutions, farms, and Federal, state, local or tribal governments. Estimated Number of Respondents: 180,000. Estimated Time per Respondent: 12 hours 4 min. Estimated Total Annual Burden Hours: 2,173,641. The following paragraph applies to all 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 SUMMARY: PO 00000 Frm 00202 Fmt 4703 Sfmt 4703 38021 unless the collection of information displays a valid OMB control number. Books or records relating to a collection of information must be retained if 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. Desired Focus of Comments: The Internal Revenue Service (IRS) 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 using 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. Approved: June 18, 2020. Ronald J. Durbala, IRS Tax Analyst. [FR Doc. 2020–13648 Filed 6–23–20; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Privacy Act of 1974, as amended Internal Revenue Service (IRS), Treasury. ACTION: Notice of proposed modification to Privacy Act system of records. AGENCY: In accordance with the requirements of the Privacy Act of 1974, as amended, the Department of the Treasury, Internal Revenue Service, gives notice of proposed modifications to system of records entitled: Treasury/ IRS 60.000 Employee Protection System Records. SUMMARY: E:\FR\FM\24JNN1.SGM 24JNN1

Agencies

[Federal Register Volume 85, Number 122 (Wednesday, June 24, 2020)]
[Notices]
[Pages 38020-38021]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-13519]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Information Collection Request Submitted for Public 
Comment; Comment Request Relating to Annual Certification for 
Multiemployer Defined Benefit Plans

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

SUMMARY: The Internal Revenue Service, as part of its continuing effort 
to reduce paperwork and respondent burden, invites the 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. Currently, the IRS is soliciting comments 
concerning guidance to the annual certification for Multiemployer 
Defined Benefit Plans.

DATES: Written comments should be received on or before August 24, 2020 
to be assured of consideration.

ADDRESSES: Direct all written comments to Kinna Brewington, Internal 
Revenue Service, Room 6529, 1111 Constitution Avenue NW, Washington, DC 
20224. Requests for additional information or copies of the regulations 
should be directed to Ronald J. Durbala, at Internal Revenue Service, 
Room 6129, 1111 Constitution Avenue NW, Washington DC 20224, or through 
the internet, at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Annual Certification for Multiemployer Defined Benefit 
Plans.
    OMB Number: 1545-2111.
    Regulation Project Number: REG-151135-07.
    Abstract: Section 432(b)(3)(A) requires an actuarial certification 
of whether a multiemployer plan is in endangered status, and whether a 
multiemployer plan is or will be in critical status, for each plan 
year. This certification must be completed by the 90th day of the plan 
year and must be provided to the Secretary of the Treasury and to the 
plan sponsor. If the certification is with respect to a plan year that 
is within the plan's funding improvement period or rehabilitation 
period arising from a prior certification of endangered or critical 
status, the actuary must also certify whether the plan is making 
scheduled progress in meeting the requirements of its funding 
improvement or rehabilitation plan.
    Actuaries submit certifications in various formats and lengths. The 
creation of an established form would limit the submissions to the 
information required within an annual certification, reducing the 
burden to all those affected.
    Current Actions: This is a new request for a proposed form for 
actuaries to report the funding status of multiemployer defined benefit 
retirement plans. Actuaries have been required to submit certifications 
regarding plans' funding statuses since 2008 under IRC 432, but we are 
proposing a form to encourage consistency of the format of 
certifications submitted annually and to simplify the process.
    Type of Review: Existing collection in use without an OMB control 
number.
    Affected Public: Not-for-profit institutions, business or other 
for-profit organizations.
    Estimated Number of Respondents: 1,600.
    Estimated Time per Respondent: 45 min.
    Estimated Total Annual Burden Hours: 1,200.
    The following paragraph applies to all the collections of 
information covered by this notice:

[[Page 38021]]

    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 if 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.
    Desired Focus of Comments: The Internal Revenue Service (IRS) 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 using 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.

    Approved: June 16, 2020.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2020-13519 Filed 6-23-20; 8:45 am]
BILLING CODE 4830-01-P