Prohibited Transaction Class Exemption for Certain Transactions Between Investment Companies and Employee Benefit Plans (PTE 1977-4)

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
PTE 77-4 ss 09-05-2019.docx	Supporting Statement A	Uploaded 2019-12-30	Available
AORequest.pdf	Supplementary Document	Uploaded 2013-06-06	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
206541	Full Prospectus On Demand	Other-Advisory Opinion	Modified
13347	Summary Prospectus to Everyone Affected	Other-Federal Register Notice	Modified

ICR Details

OMB Control No: 1210-0049	ICR Reference No: 201909-1210-005
Status: Historical Active	Previous ICR Reference No: 201607-1210-005
Agency/Subagency: DOL/EBSA	Agency Tracking No:
Title: Prohibited Transaction Class Exemption for Certain Transactions Between Investment Companies and Employee Benefit Plans (PTE 1977-4)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 02/18/2020
Retrieve Notice of Action (NOA)	Date Received in OIRA: 12/30/2019
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2023	36 Months From Approved	02/29/2020
Responses	279,653	0	271,238
Time Burden (Hours)	23,728	0	23,040
Cost Burden (Dollars)	117,954	0	117,069

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Abstract: Prohibited Transaction Exemption 77-4 permits an employee benefit plan to purchase and sell shares of an open-end investment company (mutual fund) when a fiduciary with respect to the plan is also the investment advisor for the mutual fund.

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Authorizing Statute(s): US Code: 26 USC 4975 Name of Law: Internal Revenue Code of 1986
   US Code: 29 USC 1108 Name of Law: Employee Retirement Income Security Act of 1974
  

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:
	84 FR 11573	03/27/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 71980	12/30/2019
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
Full Prospectus On Demand
Summary Prospectus to Everyone Affected

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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	279,653	271,238	0	0	8,415	0
Annual Time Burden (Hours)	23,728	23,040	0	0	688	0
Annual Cost Burden (Dollars)	117,954	117,069	0	0	885	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: Although no program changes have been made that would require revision of the prior paperwork burden estimates, the Department is adjusting its estimates of the hour and cost burden of this exemption in two respects. First, the Department is revising its estimate of the number of respondents and responses, based on more recent ICI and Form 5500 data. Second, the Department is revising its estimate of the wage and postage costs due to increased labor costs and inflation.

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Annual Cost to Federal Government: $0

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.     No

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.     No

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: 12/30/2019

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