REG-120476-07, Employer Comparable Contributions to Health Savings Accounts and Requirement of a Return for filing of the excise taxes under sections 4980B, 4980D, 4980E and 4980G.
ICR 200912-1545-019 · OMB 1545-2146 · Historical Active
⚠️ Notice: This information collection may be outdated. More recent filings for OMB 1545-2146 can be found here:
REG-120476-07, Employer Comparable Contributions to Health Savings Accounts and Requirement of a Return for filing of the excise taxes under sections 4980B, 4980D, 4980E and 4980G.
New collection (Request for a new OMB Control Number)
Pre-approval contingent upon no substantive changes to this collection after adoption of the final rule. Otherwise this collection should be re-submitted to OMB for review.
table that charts list comparision
Inventory as of this Action
Requested
Previously Approved
05/31/2012
36 Months From Approved
5,000
0
0
2,500
0
0
0
0
0
The information results from the requirement to file a return for the payment of the excise taxes under section 4980B, 4980D, 4980E, and 4980G of the code.
US Code:
26 USC 4980B
Name of Law: Failure to satisfy continuation coverage requirements of group health plans.
US Code:
26 USC 4980E
Name of Law: Failure of employer to make comparable Archer MSA contributions.
US Code:
26 USC 4980G
Name of Law: Failure of employer to make comparable health savings account contributions.
US Code:
26 USC 4980D
Name of Law: Failure to meet certain group health plan requirements.
PL: Pub.L. 111 - 5 705 Name of Law: The American Recovery and Reinvestment Act
This document contains final regulations providing guidance on employer comparable contributions to Health Savings Accounts (HSAs) under section 4980G of the Internal Revenue Code (Code) as amended by sections 302, 305 and 306 of the Tax Relief and Health Care Act of 2006 (the Act). The final regulations also provide guidance relating to the manner and method of reporting and paying the excise tax under sections 4980B, 4980D, 4980E, and 4980G of the Code.
The American Recovery and Reinvestment Act (PL 111-5), provides for a premium reduction for COBRA continuation coverage elected by certain individuals as the result of an involuntary termination of employment. These final regulations provide a method and manner for the payment and reporting of the excise tax and also serve as a catalyst for the creation of a new form (Form 8928) that will be used for payment of the section 4980B excise tax (as well as other excise taxes under chapter 43). The total estimated burden is 2,500 hours.
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.
HSA Hope - Supporting Statement for PRA.doc
REG-120476-07, Employer Comparable Contributions to Health Savings Accounts and Requirement of a Return for filing of the excise taxes under sections 4980B, 4980D, 4980E and 4980G.