Form 5310, Application for Determination for Terminating Plan; Form 6088, Distributable Benefits from Employee Pension Benefit Plans

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form Form 6088 Form 6088--Distributable Benefits From Employee Pension Benefits Plans	Form and Instruction	Modified	Repair queued
Form Form 5310 Form 5310-- Application for Determination for Terminating Plan;	Form	Modified	Available
2018-10-25_SS_1545-0202rSC.doc	Supporting Statement A	Uploaded 2018-10-25	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
202873	Form 6088--Distributable Benefits From Employee Pension Benefits Plans	Form and Instruction	Modified
17121	Form 5310-- Application for Determination for Terminating Plan;	Form	Modified

ICR Details

OMB Control No: 1545-0202	ICR Reference No: 201809-1545-009
Status: Active	Previous ICR Reference No: 201509-1545-011
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Form 5310, Application for Determination for Terminating Plan; Form 6088, Distributable Benefits from Employee Pension Benefit Plans
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/29/2019
	Date Received in OIRA: 12/21/2018
Terms of Clearance: OMB understands that the IRS is currently in the process of revising the methodology it uses to estimate burden and costs. OMB expects that future ICRs under this OMB control number will include dollar estimates of annual burden costs to taxpayers calculated using this revised methodology.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2022	36 Months From Approved	04/30/2019
Responses	1,244	0	40,000
Time Burden (Hours)	82,231	0	1,718,300
Cost Burden (Dollars)	0	0	0

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Abstract: Employers who have qualified deferred compensation plans can take an income tax deduction for contributions to their plans. IRS uses the data on Forms 5310 and 6088 to determine whether a plan still qualifies and whether there is any discrimination in benefits.

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Authorizing Statute(s): US Code: 26 USC Section 401 (a) Name of Law: Income Taxes
   US Code: 26 USC Section 404 Name of Law: Income Taxes
  

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:
	83 FR 30222	06/27/2018
30-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 27735	12/21/2018
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
Form 5310-- Application for Determination for Terminating Plan;	Form 5310	Application for Determination for Terminating Plan
Form 6088--Distributable Benefits From Employee Pension Benefits Plans	Form 6088	Distributable Benefits From Employee Pension Benefit Plans

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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	1,244	40,000	0	0	-38,756	0
Annual Time Burden (Hours)	82,231	1,718,300	0	0	-1,636,069	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The change in the burden previously approved by OMB, resulted from combining and totaling multiple years of responses, instead of reporting each year separately. The updated changes to responses resulted in a decrease of (38,756) responses, resulting in a total burden decrease of (1,636,069) total annual burden hours. Also, we are making this submission to renew he OMB approval.

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Annual Cost to Federal Government: $32,771

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: 12/21/2018

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