Notice2024-06180
Proposed Collection; Comment Request Relating to Application for Determination of Employee Stock Ownership Plan (ESOP)
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
March 25, 2024
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 continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning Form 5309, Application for Determination of Employee Stock Ownership Plan (ESOP).
Full Text
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<title>Federal Register, Volume 89 Issue 58 (Monday, March 25, 2024)</title>
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[Federal Register Volume 89, Number 58 (Monday, March 25, 2024)]
[Notices]
[Page 20763]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-06180]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request Relating to Application for
Determination of Employee Stock Ownership Plan (ESOP)
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
continuing information collections, as required by the Paperwork
Reduction Act of 1995. The IRS is soliciting comments concerning Form
5309, Application for Determination of Employee Stock Ownership Plan
(ESOP).
DATES: Written comments should be received on or before May 24, 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#532321327d303c3e3e363d2720133a21207d343c25"><span class="__cf_email__" data-cfemail="760604175815191b1b13180205361f040558111900">[email protected]</span></a>. Please reference ``OMB
Control Number 1545-0284'' in the subject line of the message.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the form and instructions should be directed to Sara
Covington, (202) 317-5744 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#5c0f3d2e3d7210721f332a35323b2833321c352e2f723b332a"><span class="__cf_email__" data-cfemail="6635071407482a482509100f0801120908260f141548010910">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION:
Title: Application for Determination of Employee Stock Ownership
Plan (ESOP).
OMB Number: 1545-0284.
Form Number: 5309.
Abstract: Internal Revenue Code section 404(a) allows employers an
income tax deduction for contributions to their qualified deferred
compensation plans. Form 5309 is used to request an IRS determination
letter about whether the plan is qualified under Code section 409 or
4975(e)(7).
Current Actions: There are no changes being made to the form at
this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 3,655.
Estimated Time per Respondent: 10 hrs., 47 minutes.
Estimated Total Annual Burden Hours: 26,975.
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 19, 2024.
Sara L. Covington,
IRS Tax Analyst.
[FR Doc. 2024-06180 Filed 3-22-24; 8:45 am]
BILLING CODE 4830-01-P
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