Prohibited Transaction Class Exemption 1985-68 to Permit Employee Benefit Plans to Invest in Customer Notes of Employers

ICR 201701-1210-004

OMB: 1210-0094

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2017-02-02
ICR Details
1210-0094 201701-1210-004
Historical Active 201310-1210-002
DOL/EBSA
Prohibited Transaction Class Exemption 1985-68 to Permit Employee Benefit Plans to Invest in Customer Notes of Employers
Extension without change of a currently approved collection   No
Regular
Approved without change 05/18/2017
Retrieve Notice of Action (NOA) 02/10/2017
  Inventory as of this Action Requested Previously Approved
05/31/2020 36 Months From Approved 05/31/2017
325 0 325
1 0 1
0 0 0

This class exemption exempts from the prohibited transaction provisions of ERISA, certain transactions involving the purchase of customer notes of an employee by an employee benefit plan. The class exemption requires plans to maintain for a period of six years all necessary records pertaining to the affected transactions and to make those records available to certain designed persons upon request.

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

Not associated with rulemaking

  81 FR 75157 10/28/2016
82 FR 10407 02/10/2017
No

1
IC Title Form No. Form Name
Prohibited Transaction Class Exemption 85-68 to Permit Employee Benefit Plans to Invest in Customer Notes of Employers

  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 325 325 0 0 0 0
Annual Time Burden (Hours) 1 1 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
No
No
No
No
Uncollected
Allan Beckmann 202 693-8429 [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.
02/10/2017


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