Notice2021-19424
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Waiver of 60-Day Rollover Requirement
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
September 9, 2021
Issuing agencies
Treasury Department
Abstract
The Department of the Treasury will submit the following information collection request to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests.
Full Text
<html>
<head>
<title>Federal Register, Volume 86 Issue 172 (Thursday, September 9, 2021)</title>
</head>
<body><pre>
[Federal Register Volume 86, Number 172 (Thursday, September 9, 2021)]
[Notices]
[Pages 50594-50595]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-19424]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Waiver of 60-Day Rollover Requirement
AGENCY: Departmental Offices, U.S. Department of the Treasury.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Department of the Treasury will submit the following
information collection request to the Office of Management and Budget
(OMB) for review and clearance in accordance with the Paperwork
Reduction Act of 1995, on or after the date of publication of this
notice. The public is invited to submit comments on these requests.
DATES: Comments must be received on or before October 12, 2021.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
[[Page 50595]]
FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be
obtained from Molly Stasko by emailing <a href="/cdn-cgi/l/email-protection#f6a6a4b7b6828493978583848fd8919980"><span class="__cf_email__" data-cfemail="f6a6a4b7b6828493978583848fd8919980">[email protected]</span></a>, calling (202)
622-8922, or viewing the entire information collection request at
<a href="http://www.reginfo.gov">www.reginfo.gov</a>.
SUPPLEMENTARY INFORMATION:
Internal Revenue Service (IRS)
Title: Waiver of 60-Day Rollover Requirement.
OMB Control Number: 1545-2269.
Type of Review: Reinstatement without change of a currently
approved collection.
Description: Revenue Procedure 2020-46 modifies and updates Rev.
Proc. 2016-47, 2016-37 I.R.B. 346. Section 3.02(2) of Rev. Proc. 2016-
47 provides a list of permissible reasons for self-certification of
eligibility for a waiver of the 60-day rollover requirement, and, in
response to requests from stakeholders, this revenue procedure modifies
that list by adding a new reason: A distribution was made to a state
unclaimed property fund. As under Rev. Proc. 2016-47, a self-
certification relates only to the reasons for missing the 60-day
deadline, not to whether a distribution is otherwise eligible to be
rolled over. An appendix contains a model letter that may be used for
self-certification.
Upon receipt of a self-certification, a plan administrator or IRA
trustee may accept the contribution and treat it as having satisfied
the requirements for a waiver of the 60-day requirement. Currently, the
only way for a taxpayer to obtain a waiver of the 60-day requirement
with respect to an amount distributed to a state unclaimed property
fund is to apply to the Internal Revenue Service (IRS) for a favorable
ruling, which is issued by the Tax Exempt and Government Entities
Division (TE/GE). The user fee for a ruling is $10,000. The program
outlined in this revenue procedure permits taxpayers to receive the
benefits of a waiver without paying a user fee.
Revenue Procedure Number: 2020-46.
Affected Public: Individuals or Households.
Estimated Number of Respondents: 160.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 160.
Estimated Time per Response: 3 hours.
Estimated Total Annual Burden Hours: 480 hours.
Authority: 44 U.S.C. 3501 et seq.
Dated: September 2, 2021.
Molly Stasko,
Treasury PRA Clearance Officer.
[FR Doc. 2021-19424 Filed 9-8-21; 8:45 am]
BILLING CODE 4830-01-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on September 9, 2021.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.