ABLE Account Contribution Information and Distributions from ABLE Accounts

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 1099-QA 1099-QA, Distributions from ABLE Accounts	Form	New	Available
Form 5498-QA 5498-QA, ABLE Account Contribution Information	Form	Modified	Available
2017-12-05 SS 1545-2262r1.doc	Supporting Statement A	Uploaded 2017-12-06	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
229076	1099-QA, Distributions from ABLE Accounts	Form	New
215991	5498-QA, ABLE Account Contribution Information	Form	Modified

ICR Details

OMB Control No: 1545-2262	ICR Reference No: 201711-1545-026
Status: Active	Previous ICR Reference No: 201504-1545-006
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: ABLE Account Contribution Information and Distributions from ABLE Accounts
Type of Information Collection: Reinstatement without change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/30/2018
	Date Received in OIRA: 03/21/2018
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2021	36 Months From Approved
Responses	20,000	0	0
Time Burden (Hours)	3,600	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: These forms will be used to report the contributions of Achieving a Better Life Experience (ABLE) accounts under IRC 529A. Any State or its agency or instrumentality that establishes and maintains a qualified ABLE program must file a Form 1099-QA (Distributions From ABLE Accounts), and/or establishes and maintains a qualified ABLE program must file (for each ABLE account), a Form 5498-QA (ABLE Account Contribution Information) with the Internal Revenue Service. IRS uses the information to verify compliance with the reporting rules and to verify that the recipient has included the proper amount of income on his or her income tax return.

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Authorizing Statute(s): US Code: 26 USC 529A Name of Law: Qualified Tuition Program
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	82 FR 57327	12/04/2017
30-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 12461	03/21/2018
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

table that charts list of burden

IC Title	Form No.	Form Name
5498-QA, ABLE Account Contribution Information	5498-QA, 5498-QA (DRAFT) (2018)	ABLE Account Contribution Information ,   ABLE Account Contribution Information
1099-QA, Distributions from ABLE Accounts	1099-QA, 1099-QA	Distributions from ABLE Accounts ,   Distributions from ABLE Accounts

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ICR Summary of Burden

table that charts list of burden

	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	20,000	0	0	0	0	20,000
Annual Time Burden (Hours)	3,600	0	0	0	0	3,600
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: This ICR has a change in burden due to potential violation of PRA. Although there is no overall change in burden for this Information Collection Request (ICR), we separated the burden into separate Information Collections (IC) in order to provide better clarity and transparency.

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Annual Cost to Federal Government: $2,000

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     Yes

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 03/21/2018

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