Notice2024-12397
Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request on Burden for Form 5305-SEP
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
June 6, 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 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 Form 5305-SEP, Simplified Employee Pension--Individual Retirement Accounts Contribution Agreement.
Full Text
<html>
<head>
<title>Federal Register, Volume 89 Issue 110 (Thursday, June 6, 2024)</title>
</head>
<body><pre>
[Federal Register Volume 89, Number 110 (Thursday, June 6, 2024)]
[Notices]
[Page 48485]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-12397]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Extension of Information Collection Request Submitted
for Public Comment; Comment Request on Burden for Form 5305-SEP
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 the burden associated with Form 5305-SEP, Simplified
Employee Pension--Individual Retirement Accounts Contribution
Agreement.
DATES: Written comments should be received on or before August 5, 2024
to be assured of consideration.
ADDRESSES: Direct all written comments to Andr[eacute]s Garcia,
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW,
Washington, DC 20224, or by email to <a href="/cdn-cgi/l/email-protection#f9898b98d79a9694949c978d8ab9908b8ad79e968f"><span class="__cf_email__" data-cfemail="423230236c212d2f2f272c3631022b30316c252d34">[email protected]</span></a>. Please
include, ``OMB Number: 1545-0499--Public Comment Request Notice'' in
the Subject line.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the form and instructions should be directed to Ronald J.
Durbala, at (202) 317-5746, 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#e5b7af8a9680958dcba1909787848984a58c9796cb828a93"><span class="__cf_email__" data-cfemail="580a12372b3d2830761c2d2a3a39343918312a2b763f372e">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION:
Title: Simplified Employee Pension--Individual Retirement Accounts
Contribution Agreement.
OMB Number: 1545-0499.
Document Number: 5305-SEP.
Abstract: Form 5305-SEP is used by an employer to make an agreement
to provide benefits to all employees under a Simplified Employee
Pension (SEP) described in Internal Revenue Code section 408(k). This
form is not to be filed with the IRS but is to be retained in the
employer's records as proof of establishing a SEP and justifying a
deduction for contributions to the SEP.
Current Actions: There are no changes to the burden previously
approved by OMB. This request is to extend the current approval for
another 3 years.
Type of Review: Extension of a currently approved collection.
Affected Public: Business and other for-profit organizations.
Estimated Number of Respondents: 100,000.
Estimated Time per Respondent: 4 hrs., 57 min.
Estimated Total Annual Burden Hours: 495,000.
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 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:
<bullet> 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.
<bullet> 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.
<bullet> Enhance the quality, utility, and clarity of the
information to be collected; and
<bullet> 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 3, 2024.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2024-12397 Filed 6-5-24; 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 June 6, 2024.
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.