Notice2026-06510
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Prohibited Transaction Class Exemption 1992-6: Sale of Individual Life Insurance or Annuity Contracts by an Employee Benefit Plan
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, 2026
Issuing agencies
Labor Department
Abstract
The Department of Labor (DOL) is submitting this Employee Benefits Security Administration (EBSA)-sponsored information collection request (ICR) to the Office of Management and Budget (OMB) for review and approval in accordance with the Paperwork Reduction Act of 1995 (PRA). Public comments on the ICR are invited.
Full Text
<html>
<head>
<title>Federal Register, Volume 91 Issue 64 (Friday, April 3, 2026)</title>
</head>
<body><pre>
[Federal Register Volume 91, Number 64 (Friday, April 3, 2026)]
[Notices]
[Page 16976]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-06510]
[[Page 16976]]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF LABOR
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Prohibited Transaction Class Exemption 1992-6:
Sale of Individual Life Insurance or Annuity Contracts by an Employee
Benefit Plan
ACTION: Notice of availability; request for comments.
-----------------------------------------------------------------------
SUMMARY: The Department of Labor (DOL) is submitting this Employee
Benefits Security Administration (EBSA)-sponsored information
collection request (ICR) to the Office of Management and Budget (OMB)
for review and approval in accordance with the Paperwork Reduction Act
of 1995 (PRA). Public comments on the ICR are invited.
DATES: The OMB will consider all written comments that the agency
receives on or before May 4, 2026.
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.
FOR FURTHER INFORMATION CONTACT: Michael Howell by telephone at 202-
693-6782, or by email at <a href="/cdn-cgi/l/email-protection#9fdbd0d3c0cfcddec0cfcaddd3d6dcdffbf0f3b1f8f0e9"><span class="__cf_email__" data-cfemail="d692999a89868497898683949a9f9596b2b9baf8b1b9a0">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION: PTE 92-6 exempts from the prohibited
transaction restrictions the sale of individual life insurance or
annuity contracts held by an employee benefit plan to: (1) plan
participants insured under such contracts; (2) a relative of such
participant who is the beneficiaries under the contract, (3) an
employer any of whose employees are covered by the plan; (4) another
employee benefit plan; (5) plan participants who are owner-employees
(as defined in section 401(c)(3) of the Code), or shareholder-employees
(as defined in section 1379 of the Internal Revenue Code of 1954 as in
effect on the day before the enactment of the Subchapter S Revision Act
of 1982), or (6) trusts established by or for the benefit of plan
participants (1) or (2), provided certain conditions set forth in the
class exemption are met. With respect to sales of the policy to the
employer, a relative of the insured, a trust, or another plan, the
participant insured under the policy is first informed of the proposed
sale and is given the opportunity to purchase such contract from the
plan, and delivers a written document to the plan stating that he or
she elects not to purchase the policy and consents to the sale by the
plan of such policy to such employer, relative, trust or other plan.
For additional substantive information about this ICR, see the related
notice published in the Federal Register on July 11, 2025 (90 FR
30984).
Comments are invited on: (1) whether the collection of information
is necessary for the proper performance of the functions of the
Department, including whether the information will have practical
utility; (2) the accuracy of the agency's estimates of the burden and
cost of the collection of information, including the validity of the
methodology and assumptions used; (3) ways to enhance the quality,
utility and clarity of the information collection; and (4) ways to
minimize the burden of the collection of information on those who are
to respond, including the use of automated collection techniques or
other forms of information technology.
This information collection is subject to the PRA. A Federal agency
generally cannot conduct or sponsor a collection of information, and
the public is generally not required to respond to an information
collection, unless the OMB approves it and displays a currently valid
OMB Control Number. In addition, notwithstanding any other provisions
of law, no person shall generally be subject to penalty for failing to
comply with a collection of information that does not display a valid
OMB Control Number. See 5 CFR 1320.5(a) and 1320.6.
DOL seeks PRA authorization for this information collection for
three (3) years. OMB authorization for an ICR cannot be for more than
three (3) years without renewal. The DOL notes that information
collection requirements submitted to the OMB for existing ICRs receive
a month-to-month extension while they undergo review.
Agency: DOL-EBSA.
Title of Collection: Prohibited Transaction Class Exemption 1992-6:
Sale of Individual Life Insurance or Annuity Contracts by an Employee
Benefit Plan.
OMB Control Number: 1210-0063.
Affected Public: Private sector.
Total Estimated Number of Respondents: 25,770.
Total Estimated Number of Responses: 25,770.
Total Estimated Annual Time Burden: 5,154 hours.
Total Estimated Annual Other Costs Burden: $834.
(Authority: 44 U.S.C. 3507(a)(1)(D))
Michael Howell,
Senior Paperwork Reduction Act Analyst.
[FR Doc. 2026-06510 Filed 4-2-26; 8:45 am]
BILLING CODE 4510-29-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 April 3, 2026.
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.