Bank Collective Investment Funds, Prohibited Transaction Class Exemption 1991-38

ICR 201901-1210-001

OMB: 1210-0082

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2019-02-05
IC Document Collections
ICR Details
1210-0082 201901-1210-001
Active 201510-1210-003
DOL/EBSA
Bank Collective Investment Funds, Prohibited Transaction Class Exemption 1991-38
Extension without change of a currently approved collection   No
Regular
Approved without change 04/05/2019
Retrieve Notice of Action (NOA) 03/01/2019
  Inventory as of this Action Requested Previously Approved
04/30/2022 36 Months From Approved 04/30/2019
7,719 0 6,000
1,287 0 1,000
0 0 0

Exempts from the prohibited transaction provisions of ERISA certain transactions between a bank collective investment fund and persons that are parties in interest to a plan, provided that the plan's participation in the collective investment fund does not exceed a specified percentage of the total assets in the collective investment fund and that the bank maintains and makes available certain records.

US Code: 29 USC 1108(a) Name of Law: Employee Retirement Income Security Act of 1974
   US Code: 26 USC 4975(c)(2) Name of Law: Internal Revenue Code
  
None

Not associated with rulemaking

  83 FR 5300 10/23/2018
84 FR 7133 03/01/2019
No

1
IC Title Form No. Form Name
Bank Collective Investment Funds; Prohibited Transaction Class Exemption 91-38

  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 7,719 6,000 0 0 1,719 0
Annual Time Burden (Hours) 1,287 1,000 0 0 287 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
The hour burden for this information collection is being increased from 1,000 hours to 1.287 hours due to the estimated number of respondents increasing, from 6,000 to 7,719. The equivalent costs of the hour burden increased due to updating the labor rate.

$0
No
    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.
03/01/2019


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