TAX ON LUMP-SUM DISTRIBUTIONS

ICR 199407-1545-018

OMB: 1545-0193

Federal Form Document

Forms and Documents
Document
Name
Status
No forms / supporting documents in this ICR. Check IC Document Collections.
IC Document Collections
IC ID
Document
Title
Status
129212 Migrated
ICR Details
1545-0193 199407-1545-018
Historical Active 199306-1545-022
TREAS/IRS
TAX ON LUMP-SUM DISTRIBUTIONS
Revision of a currently approved collection   No
Regular
Approved without change 10/06/1994
Retrieve Notice of Action (NOA) 07/29/1994
You may omit printing the expiration date on this form. You may continue to use prior versions of this from.
  Inventory as of this Action Requested Previously Approved
09/30/1997 09/30/1997 09/30/1996
140,000 0 140,000
421,400 0 467,600
0 0 0

IRC SECTION 402(E) ALLOWS TAXPAYERS TO COMPUTE A SEPARATE TAX ON A LUMP-SUM DISTRIBUTION FROM A QUALIFIED RETIREMENT PLAN. FORM 4972 IS USED TO CORRECTLY FIGURE THAT TAX. THE DATA IS USED TO VERIFY CORRECTNESS OF THE SEPARATE TAX. FORM 4972 IS ALSO USED TO MAKE THE SPECIAL 20 PERCENT CAPITAL GAIN ELECTION ATTRIBUTABLE TO PRE-1974 PARTICIPATION FROM THE LUMP-SUM DISTRIBUTION.

None
None


No

1
IC Title Form No. Form Name
TAX ON LUMP-SUM DISTRIBUTIONS 4972

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 140,000 140,000 0 0 0 0
Annual Time Burden (Hours) 421,400 467,600 0 -46,200 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
Yes

$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
07/29/1994


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