N_pra 2010_ss_2011omb2196

SUPPORTING STATEMENT
1. CIRCUMSTANCES NECESSITATING COLLECTION OF INFORMATION
One notice provides guidance in the form of questions and answers for sponsors of multiemployer defined benefit
plans with respect to the special funding rules under § 431(b)(8), as added by section 211(a)(2) of the Preservation of
Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 (PRA 2010), Pub. L. No.111 192.
One notice provides guidance on the special rules relating to funding relief for single-employer defined benefit pension
plans (including multiple employer defined benefit pension plans) under the Preservation of Access to Care for
Medicare Beneficiaries and Pension Relief Act of 2010 (PRA 2010), Pub. L. No.111-192.

2. USE OF DATA
The questions and answers of this notice address issues relating to the special amortization rule and special asset
valuation rule under § 431(b)(8), using the following designations to indicate the topic addressed.
A – Extended Amortization Period for Net Investment Losses Incurred in Eligible Loss Years
V – Asset Valuation Rules S – Solvency Test
R - Restrictions on Plan Amendments Increasing Benefits
D – Decision to Apply the Special Funding Rules
N - Notice Requirements
C - Certification of Status under § 432
F – Form 5500 Requirements

3. USE OF IMPROVED INFORMATION TECHNOLOGY TO REDUCE BURDEN
There are no plans to provide separate electronic filing because taxpayer will report this infomation in conjunction with
annual return.

4. EFFORTS TO IDENTIFY DUPLICATION
We have attempted to eliminate duplication within the agency wherever possible.

5. METHODS TO MINIMIZE BURDEN ON SMALL BUSINESSES OR OTHER SMALL ENTITIES
Not applicable.

6. CONSEQUENCES OF LESS FREQUENT COLLECTION ON FEDERAL PROGRAMS OR
POLICY ACTIVITIES
Not applicable.

Form 14029 (Rev. 4-2009) Catalog Number 51944B Page 4

Department of the Treasury–Internal Revenue Service

7. SPECIAL CIRCUMSTANCES REQUIRING DATA COLLECTION TO BE INCONSISTENT
WITH GUIDELINES IN 5 CFR 1320.5(d)(2)
Not applicable.

8. CONSULTATION WITH INDIVIDUALS OUTSIDE OF THE AGENCY ON AVAILABILITY
OF DATA, FREQUENCY OF COLLECTION, CLARITY OF INSTRUCTIONS AND FORMS,
AND DATA ELEMENTS
Notice 2010-83 was released to the public on November 26, 2010 and published in the Internal Revenue Bulletin
(2010-51 I.R.B. 862), on December 20, 2010. Notice 2011-3 was released to the public on December 17, 2011 and
published in the Internal Revenue Bulletin (2011-2 I.R.B. 263), on January 10, 2011.
Periodic meetings are held between IRS personnel and representatives of various professional groups to discuss tax
law and tax forms. During these meetings, there is an opportunity for those attending to make comments regarding the
collection requirements under this notice.
In response to the Federal Register notice (76 FR 1667), dated January 11 2010, we received no comments during the
comment period regarding these notices.

9. EXPLANATION OF DECISION TO PROVIDE ANY PAYMENT OR GIFT TO RESPONDENTS
Not applicable.

10. ASSURANCE OF CONFIDENTIALITY OF RESPONSES
Generally, tax returns and tax return information are confidential as required by 26 U.S.C. 6103.

11. JUSTIFICATION OF SENSITIVE QUESTIONS
Not applicable.

12. ESTIMATED BURDEN OF INFORMATION COLLECTION
For Special Rules Relating to Funding Relief for Single-Employer Pension Plans under PRA 2010, the estimated total
number of respondents is 34,100 plans. The estimated total annual reporting and/or recordkeeping burden is 25,700
hours. The information collected in Q&A N-6, Q&A N-7, and Q&A T 1(c) applies only to single-employer defined
benefit plans covered by the PBGC. For this information, the estimated total number of respondents is 13,820 plans.
The estimated annual burden per respondent/recordkeeper is 15 minutes. The estimated total annual reporting and/or
recordkeeping burden is 3,455 hours.
Funding Relief for Multiemployer Defined Benefit Plans under PRA 2010, the estimated total number of respondents
for 2010 and 2011 is 1,500. The estimated annual burden per respondent varies from 45 minutes to 65 minutes, with
an estimated average of 55 minutes. The estimated total annual reporting and/or recordkeeping burden is 1,375 hours.

Form 14029 (Rev. 4-2009) Catalog Number 51944B

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Department of the Treasury–Internal Revenue Service

13. ESTIMATED TOTAL ANNUAL COST BURDEN TO RESPONDENTS
As suggested by OMB, our Federal Register notice dated January 11, 2011, requested public comments on estimates
of cost burden that are not captured in the estimates of burden hours, i.e., estimates of capital or start-up costs and
costs of operation, maintenance, and purchase of services to provide information. However, we did not receive any
responses from taxpayers on this subject. As a result, estimates of these cost burdens are not available at this time.

14. ESTIMATED ANNUALIZED COST TO THE FEDERAL GOVERNMENT
The collection of information does not require a form. Therefore, the estimated annualized cost to the government is
minimal or none.

15. REASONS FOR CHANGE IN BURDEN
There were no changes made to the document that resulted in any change to the burden previously reported to OMB.
We are making this submission to renew the OMB approval.

16. PLANS FOR TABULATION, STATISTICAL ANALYSIS AND PUBLICATION
Not applicable.

17. REASONS WHY DISPLAYING THE OMB EXPIRATION DATE IS INAPPROPRIATE
We believe that displaying the OMB expiration date is inappropriate because it could cause confusion by leading
taxpayers to believe that the regulation sunsets as of the expiration date. Taxpayers are not likely to be aware that the
Service intends to request renewal of OMB approval and obtain a new expiration date before the old one expires.

18. EXCEPTIONS TO THE CERTIFICATION STATEMENT ON OMB PRA SUBMISSION FORM
Not applicable.
Note: The following paragraph applies to all of the collections of information in this submission:
An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless
the collection of information displays a valid OMB control number. Books or records relating to a collection of
information must be retained as long as their contents may become material in the administration of any internal
revenue law. Generally, tax returns and tax return information are confidential, as required by 26 U.S.C. 6103.

19. REASON FOR EMERGENCY SUBMISSION

Form 14029 (Rev. 4-2009) Catalog Number 51944B

Page 6

Department of the Treasury–Internal Revenue Service