Foreign Currency Transactions; Prohibited Transaction Class Exemption 94-20

ICR 201205-1210-005

OMB: 1210-0085

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2012-07-31
IC Document Collections
ICR Details
1210-0085 201205-1210-005
Historical Active 200907-1210-006
DOL/EBSA
Foreign Currency Transactions; Prohibited Transaction Class Exemption 94-20
Extension without change of a currently approved collection   No
Regular
Approved without change 11/26/2012
Retrieve Notice of Action (NOA) 08/07/2012
  Inventory as of this Action Requested Previously Approved
11/30/2015 36 Months From Approved 11/30/2012
1,355 0 1,395
226 0 230
0 0 0

The class exemption permits the purchase and sale of foreign currencies between an employee benefit plan and a bank or a broker dealer or an affiliate thereof that is a party in interest with respect to such plan.

US Code: 29 USC 1106 Name of Law: Employee Retirement Income Security Act of 1974
  
None

Not associated with rulemaking

  77 FR 60250 04/05/2012
77 FR 47118 08/07/2012
No

1
IC Title Form No. Form Name
Foreign Currency Transactions; Prohibited Transaction Class Exemption 94-20

  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 1,355 1,395 0 0 -40 0
Annual Time Burden (Hours) 226 230 0 0 -4 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
There have been no program changes since the prior submission. However, the Department has made adjustments to the burden analysis that result in an decrease in the annual hour burden from 230 hours to 226 hours. The decrease is due to the decrease in the number of respondents, resulting from more current data from the FDIC regarding the number of banks engaging in currency trading through foreign branches. In addition the increase in the equivalent cost is a result of an increase in the estimated labor rate for clerical staff.

$0
No
No
No
No
No
Uncollected
Chris Cosby 202 693-8540

  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.
08/07/2012


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