Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) (Not Subject to the Designated Financial Institution Rules)

ICR 199704-1545-031

OMB: 1545-1502

Federal Form Document

Forms and Documents
Document
Name
Status
No forms / supporting documents in this ICR. Check IC Document Collections.
ICR Details
1545-1502 199704-1545-031
Historical Active 199701-1545-018
TREAS/IRS
Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) (Not Subject to the Designated Financial Institution Rules)
Extension without change of a currently approved collection   No
Regular
Approved without change 05/22/1997
Retrieve Notice of Action (NOA) 04/07/1997
The agency is not required to display the expiration date.
  Inventory as of this Action Requested Previously Approved
06/30/2000 06/30/2000 06/30/1997
600,000 0 100,000
2,127,000 0 2,127,000
0 0 0

Forms 5304-SIMPLE and 5305-SIMPLE are used by an employer to permit employees to make salary reduction contributions to a savings incentive match plan (SIMPLE IRA) described in Code section 408(p).These forms are not to be filed with IRS, but to be retained in the employers' records as proof of establishing sy such a plan,thereby justifying a deduction for contributions made to the SIMPLE IRA. The data is used to verify the deduction. Notice97-6 provides guidance for employers and trustees regarding how they can comply with the above code requirements, including those for notification and reporting under Code section 408.

None
None


No

1
IC Title Form No. Form Name
Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) (Not Subject to the Designated Financial Institution Rules) 5304-SIMPLE, 5305-SIMPLE, NOTICE97-6

  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 600,000 100,000 0 500,000 0 0
Annual Time Burden (Hours) 2,127,000 2,127,000 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$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.
04/07/1997


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