Proposed Rule2024-07018
Request for Information-SECURE 2.0 Section 319-Effectiveness of Reporting and Disclosure Requirements
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
April 3, 2024
Effective
January 23, 2024
Issuing agencies
Treasury DepartmentInternal Revenue ServiceLabor DepartmentEmployee Benefits Security AdministrationPension Benefit Guaranty Corporation
Abstract
This document extends the comment period for the request for information entitled "SECURE 2.0 Section 319--Effectiveness of Reporting and Disclosure Requirements" that was published in the January 23, 2024, issue of the Federal Register. The comment period for the request for information, which had been scheduled to close on April 22, 2024, is extended 30 days to May 22, 2024.
Full Text
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<title>Federal Register, Volume 89 Issue 65 (Wednesday, April 3, 2024)</title>
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[Federal Register Volume 89, Number 65 (Wednesday, April 3, 2024)]
[Proposed Rules]
[Pages 22971-22972]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-07018]
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Proposed Rules
Federal Register
________________________________________________________________________
This section of the FEDERAL REGISTER contains notices to the public of
the proposed issuance of rules and regulations. The purpose of these
notices is to give interested persons an opportunity to participate in
the rule making prior to the adoption of the final rules.
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Federal Register / Vol. 89, No. 65 / Wednesday, April 3, 2024 /
Proposed Rules
[[Page 22971]]
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Parts 1, 54, and 301
RIN 1545-BQ98
DEPARTMENT OF LABOR
Employee Benefits Security Administration
29 CFR Parts 2510, 2520, and 2550
RIN 1210-AC09
PENSION BENEFIT GUARANTY CORPORATION
29 CFR Parts 4000, 4007, 4010, 4041, 4041A, 4043, 4050, 4062, 4063,
4204, 4211, 4219, 4231, 4245, 4262, and 4281
RIN 1212-AB58
Request for Information--SECURE 2.0 Section 319--Effectiveness of
Reporting and Disclosure Requirements
AGENCY: Internal Revenue Service, U.S. Department of the Treasury.
Employee Benefits Security Administration, U.S. Department of Labor.
Pension Benefit Guaranty Corporation.
ACTION: Request for information; extension of comment period.
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SUMMARY: This document extends the comment period for the request for
information entitled ``SECURE 2.0 Section 319--Effectiveness of
Reporting and Disclosure Requirements'' that was published in the
January 23, 2024, issue of the Federal Register. The comment period for
the request for information, which had been scheduled to close on April
22, 2024, is extended 30 days to May 22, 2024.
DATES: The comment period for the request for information published
January 23, 2024, at 89 FR 4215, is extended. To be assured
consideration, comments must be received at one of the addresses
provided below no later than May 22, 2024.
ADDRESSES: Written comments, identified by RIN 1210-AC09, may be
submitted to one of the addresses specified below. Any comment that is
submitted will be shared with the Department of the Treasury, the
Internal Revenue Service (IRS), and the Pension Benefit Guaranty
Corporation (PBGC). Please do not submit duplicates.
<bullet> Federal eRulemaking Portal: <a href="http://www.regulations.gov">www.regulations.gov</a>. Follow
the instructions for submitting comments.
<bullet> Mail: Please address to ``Attention: Comment Extension;
Request for Information--SECURE 2.0 Section 319--Effectiveness of
Reporting and Disclosure Requirements.'' Office of Regulations and
Interpretations, Employee Benefits Security Administration, U.S.
Department of Labor, Room N-5655, U.S. Department of Labor, 200
Constitution Avenue NW, Washington, DC 20210.
Instructions: Persons submitting comments electronically are
encouraged not to submit paper copies. Comments will be available to
the public, without charge, at <a href="http://www.regulations.gov">www.regulations.gov</a>, on the Department
of Labor's website at <a href="http://www.dol.gov/agencies/ebsa/laws-and-regulations/rules-and-regulations/public-comments">www.dol.gov/agencies/ebsa/laws-and-regulations/rules-and-regulations/public-comments</a>, and at the Public Disclosure
Room, EBSA, U.S. Department of Labor, Suite N-1515, 200 Constitution
Avenue NW, Washington, DC 20210. Comments may also be accessed from
PBGC's website at <a href="http://www.pbgc.gov">www.pbgc.gov</a>.
Warning: Do not include any personally identifiable or confidential
business information that you do not want publicly disclosed. Comments
are public records and can be retrieved by most internet search
engines.
FOR FURTHER INFORMATION CONTACT: Kristen Zarenko, Office of Regulations
and Interpretations, EBSA, Labor Department, (202) 693-8500. Jamie
Dvoretzky, Office of Associate Chief Counsel (Employee Benefits, Exempt
Organizations, and Employment Taxes (CC:EEE)), IRS, Treasury
Department, at (202) 317-4102. David Simonetti, Legal Policy Division,
Office of the General Counsel, PBGC, (202) 229-4362.
SUPPLEMENTARY INFORMATION: In the request for information (RFI),
entitled ``Request for Information--SECURE 2.0 Section 319--
Effectiveness of Reporting and Disclosure Requirements,'' released by
the Department of Labor (Labor Department), Department of the Treasury
(Treasury Department), and Pension Benefit Guaranty Corporation (PBGC)
(collectively, the Agencies), the Agencies requested commenters' input
in response to a series of 24 questions relevant to section 319 of the
SECURE 2.0 Act of 2022 (SECURE 2.0).\1\ Specifically, SECURE 2.0
section 319 includes a wide-ranging directive to the Agencies to review
each Agency's existing reporting and disclosure requirements under the
Internal Revenue Code (Code) and the Employee Retirement Income
Security Act (ERISA) for retirement plans. The Agencies are directed to
then report to Congress on the effectiveness of these reporting and
disclosure requirements, including recommendations to consolidate,
simplify, standardize, and improve such requirements. The comment
period for the RFI is scheduled to close on April 22, 2024.
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\1\ The SECURE 2.0 Act of 2022, Division T of the Consolidated
Appropriations Act, 2023, Public Law 117-328, 136 Stat. 4459 (2022).
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Since the publication of the RFI in the Federal Register,
interested parties have expressed concern with their ability to respond
fully to the RFI by April 22, given the breadth of the topics and the
significant number of questions raised in the RFI. These parties
observe that significant work must be done to consider these topics
adequately, including the collection and coordination of relevant data
and information, research of the considerable laws, regulations, and
other guidance implicated by the questions in the RFI, and preparation
of meaningful responses to the Agencies' questions. The Agencies value
robust public feedback as part of their mandated review of the
effectiveness of Code and ERISA reporting and disclosure requirements.
This feedback will be an integral resource for the Agencies in
preparing the report to Congress, no later than December 29, 2025, as
required by section 319 of SECURE 2.0. In response to these requests,
the Agencies are extending the period for submitting comments on the
RFI by an additional 30 days. To be assured consideration, comments on
the RFI must be received no later than May 22, 2024.
[[Page 22972]]
Signed at Washington, DC.
Rachel D. Levy,
Associate Chief Counsel (Employee Benefits, Exempt Organizations, and
Employment Taxes), Internal Revenue Service, Department of the
Treasury.
Helen H. Morrison,
Benefits Tax Counsel, Department of the Treasury.
Lisa M. Gomez,
Assistant Secretary, Employee Benefits Security Administration,
Department of Labor.
Gordon Hartogensis,
Director, Pension Benefit Guaranty Corporation.
[FR Doc. 2024-07018 Filed 4-2-24; 8:45 am]
BILLING CODE 4510-29-P; 4830-01-P; 7709-02-P
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