Loans to Plan Participants and Beneficiaries Who Are Parties In Interest With Respect to The Plan Regulation

ICR 201311-1210-001

OMB: 1210-0076

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2013-12-09
ICR Details
1210-0076 201311-1210-001
Historical Active 201010-1210-001
DOL/EBSA
Loans to Plan Participants and Beneficiaries Who Are Parties In Interest With Respect to The Plan Regulation
Extension without change of a currently approved collection   No
Regular
Approved without change 02/06/2014
Retrieve Notice of Action (NOA) 12/13/2013
  Inventory as of this Action Requested Previously Approved
02/28/2017 36 Months From Approved 02/28/2014
2,500 0 1,900
0 0 0
946,000 0 673,000

This regulation (29 CFR 2550.408b-1) describes the terms, under section 408(b)(1), whereby plans loans to participants and beneficiaries are exempt from ERISA's prohibited transaction rules. Among other things, the regulation describes the specific provisions regarding such loans that must be included in the plan document for the statutory exemption to apply.

US Code: 29 USC 1108 Name of Law: Employee Retirement Income Security Act
  
None

Not associated with rulemaking

  78 FR 30333 05/22/2013
78 FR 75946 12/13/2013
No

1
IC Title Form No. Form Name
Reg. Relating to Loans to Plan Participants and Beneficiaries Who Are Parties In Interest With Respect to The Plan

  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 2,500 1,900 0 0 600 0
Annual Time Burden (Hours) 0 0 0 0 0 0
Annual Cost Burden (Dollars) 946,000 673,000 0 0 273,000 0
No
No

$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.
12/13/2013


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