Notice2023-24158
Proposed Collection; Requesting Comments Form 5307
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
November 2, 2023
Issuing agencies
Treasury DepartmentInternal Revenue Service
Abstract
The Internal Revenue Service, 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. The IRS is soliciting comments concerning Form 5307, Application for Determination for Adopters of Modified Nonstandardized Pre-Approved Plans.
Full Text
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<title>Federal Register, Volume 88 Issue 211 (Thursday, November 2, 2023)</title>
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[Federal Register Volume 88, Number 211 (Thursday, November 2, 2023)]
[Notices]
[Pages 75372-75373]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-24158]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Requesting Comments Form 5307
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
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SUMMARY: The Internal Revenue Service, 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. The IRS is soliciting comments
concerning Form 5307, Application for Determination for Adopters of
Modified Nonstandardized Pre-Approved Plans.
DATES: Written comments should be received on or before January 2, 2024
to be assured of consideration.
ADDRESSES: Direct all written comments to Andres Garcia, Internal
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC
20224, or by email to <a href="/cdn-cgi/l/email-protection#2e5e5c4f004d4143434b405a5d6e475c5d00494158"><span class="__cf_email__" data-cfemail="c2b2b0a3eca1adafafa7acb6b182abb0b1eca5adb4">[email protected]</span></a>. Include OMB Control No.
1545-0200 in the subject line of the message.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of this collection should be directed to Jon Callahan, (737)
800-7639, at Internal Revenue Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or through the internet at
<a href="/cdn-cgi/l/email-protection#fc969392d28ed29f9d90909d949d92bc958e8fd29b938a"><span class="__cf_email__" data-cfemail="264c494808540845474a4a474e4748664f545508414950">[email protected]</span></a>.
The IRS is currently seeking comments concerning the following
information collection tools, reporting, and record-keeping
requirements:
Title: Application for Determination for Adopters of Modified
Nonstandardized Pre-Approved Plans.
OMB Number: 1545-0200.
Form Number: Form 5307.
Abstract: An adopting employer of a nonstandardized pre-approved
plan that has made modifications to the terms of the pre-approved plan
that are not extensive, or an adopting employer of any pre-approved
plan (either standardized or nonstandardized) that amends its pre-
approved plan solely to add language to satisfy the requirements of
Internal Revenue Code (IRC) sections 415 and 416 due to the required
aggregation of plans, use Form 5307 to request a determination letter
from the IRS. The IRS uses the information to determine if the adopted
plan is qualified under IRC sections 401(a) and 501(a). The form may
not be used to
[[Page 75373]]
request a determination letter for a multiple employer plan.
Current Actions: There are changes to the existing collection. The
form was revised to eliminate features of the determination letter
program that are of limited utility to plan sponsors in comparison with
the burdens they impose. The form was also revised to enable electronic
submission on <a href="http://Pay.gov">Pay.gov</a>.
Type of Review: Revision of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Responses: 100,000.
Estimated Time per Respondent: 31 hours, 29 minutes.
Estimated Total Annual Burden Hours: 3,151,000.
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.
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: October 27, 2023.
Jon R. Callahan,
Senior Tax Analyst.
[FR Doc. 2023-24158 Filed 11-1-23; 8:45 am]
BILLING CODE 4830-01-P
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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.