RI 38-117, Rollover Election, RI 37-118, Rollover Information, and RI 37-22, Special Tax Notice Regarding Rollovers

ICR 201008-3206-001

OMB: 3206-0212

Federal Form Document

Forms and Documents
Document
Name
Status
Form
Modified
Justification for No Material/Nonsubstantive Change
2010-08-10
Supporting Statement A
2010-01-25
IC Document Collections
IC ID
Document
Title
Status
33708 Modified
ICR Details
3206-0212 201008-3206-001
Historical Active 200911-3206-005
OPM
RI 38-117, Rollover Election, RI 37-118, Rollover Information, and RI 37-22, Special Tax Notice Regarding Rollovers
No material or nonsubstantive change to a currently approved collection   No
Regular
Approved without change 09/27/2010
Retrieve Notice of Action (NOA) 08/24/2010
  Inventory as of this Action Requested Previously Approved
01/31/2013 01/31/2013 01/31/2013
1,500 0 1,500
1,000 0 1,000
0 0 0

Public Law 107-16 amends the Internal Revenue Code to allow OPM to roll over taxable and non-taxable payments to IRA's, Thrift Savings, or other retirement plans at the option of the payee. Public Law 109-280 allows OPM to rollover taxable payments to Roth IRAs after withholding Federal Income Tax. The payee uses RI 38-117 to inform OPM of his wishes. RI 38-118 explains the election. RI 37-22, Special Tax Notice Regarding Rollovers, provides more detailed information.

PL: Pub.L. 107 - 16 643 Name of Law: Rollovers of after-tax contributions
   PL: Pub.L. 107 - 147 411 Name of Law: Amendments related to Economic Growth and Tax Relief Reconciliation Act of 2001
   US Code: 5 USC 8432(j)(2) Name of Law: Lump-sum benefits; designation of beneficiary; order of precedence
   PL: Pub.L. 107 - 16 641 Name of Law: Rollovers allowed among various types of plans
   US Code: 26 USC 402(f) and 402(c)(2) Name of Law: Taxability of beneficiary of employees' trust
  
None

Not associated with rulemaking

  74 FR 37738 07/29/2009
74 FR 56673 11/02/2009
No

1
IC Title Form No. Form Name
RI 38-117, Rollover Election RI 37-22, RI 38-118, RI 38-117 Rollover Election Form ,   Rollover Information ,   Special Tax Notice Regarding Rollovers

  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 1,500 1,500 0 0 0 0
Annual Time Burden (Hours) 1,000 1,000 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
The respondent burden increased because RI 37-22, Special Tax Notice Regarding Rollovers, now includes information regarding the effect of rolling the payment into a Roth IRA. Section 408A of the Internal Revenue Code now permits such a rollover. More time is needed for the applicant to consider this added option.

$8,500
No
No
No
Uncollected
No
Uncollected
Miles Windsor 202 606-8358 [email protected]

  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.
08/24/2010


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