The Voluntary Fiduciary Correction Program and Prohibited Transaction Class Exemption

ICR 200311-1210-001

OMB: 1210-0118

Federal Form Document

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Name
Status
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ICR Details
1210-0118 200311-1210-001
Historical Active 200203-1210-001
DOL/EBSA
The Voluntary Fiduciary Correction Program and Prohibited Transaction Class Exemption
Extension without change of a currently approved collection   No
Regular
Approved without change 12/24/2003
Retrieve Notice of Action (NOA) 11/07/2003
  Inventory as of this Action Requested Previously Approved
12/31/2006 12/31/2006 12/31/2003
880 0 1,050
1,200 0 5,710
66,000 0 272,000

The Program encourages fiduciaries to correct certain violations of ERISA based on the assurance that the Department will take no further action with respect to that violation, including the assessment of a civil monetary penalty upon documentation of correction. The Exemption relieves applicants of penalties under section 4975 of the Code upon notice to plan participants.

None
None


No

1
IC Title Form No. Form Name
The Voluntary Fiduciary Correction Program and Prohibited Transaction Class Exemption

  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 880 1,050 0 0 -170 0
Annual Time Burden (Hours) 1,200 5,710 0 0 -4,510 0
Annual Cost Burden (Dollars) 66,000 272,000 0 0 -206,000 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.
11/07/2003


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