Regulations Governing the Performance of Actuarial Services under the Employee Retirement Income Security Act of 1974 (20 CFR 901)

ICR 201909-1545-003

OMB: 1545-0951

Federal Form Document

Forms and Documents
ICR Details
1545-0951 201909-1545-003
Active 201607-1545-019
TREAS/IRS
Regulations Governing the Performance of Actuarial Services under the Employee Retirement Income Security Act of 1974 (20 CFR 901)
Revision of a currently approved collection   No
Regular
Approved with change 08/11/2020
Retrieve Notice of Action (NOA) 12/27/2019
supporting statement burden hours clarified during review
  Inventory as of this Action Requested Previously Approved
08/31/2023 36 Months From Approved 08/31/2020
6,166 0 10,100
2,233 0 4,200
0 0 0

The information relates to the granting of enrollment status to actuaries admitted (licensed) by the Joint Board for the Enrollment of Actuaries to perform actuarial services under the Employee Retirement Income Security Act of 1974. Form 5434 is used to apply for enrollment to perform actuarial services and Form 5434-A is used to renew enrollment every three years to perform actuarial services under (ERISA). The information is used by the Joint Board for the Enrollment of Actuaries to determine the eligibility of the applicant to perform actuarial services. The regulations require that records be kept that verify satisfaction of requirements, and certificates of completion education requirements.

US Code: 29 USC 1241 Name of Law: Joint Board for the Enrollment of Actuaries
   US Code: 26 USC 7805 Name of Law: Rules and regulations
  
None

Not associated with rulemaking

  84 FR 48217 09/12/2019
84 FR 71531 12/27/2019
No

  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 6,166 10,100 0 0 -3,934 0
Annual Time Burden (Hours) 2,233 4,200 0 0 -1,967 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
There are no changes to the forms or regulations at his time. However, the agency is updating the number of respondents based on its most recent filing data. Form 5434 response/respondents estimates have been decreased by 1,600 (from 2,000 to 400), for an overall annual burden reduction of 1,600 hours (2,000 hours to 400). Form 5434-A response/respondents estimates have been decreased by 2,334 hours (4,000 to 1,666) for an overall annual burden decrease of 700 hours (1,200 to 833). The regulation estimates remain the same 4,100 response/respondents and 1,000 hours. These changes result in an overall decrease in burden (4,200 hours to 1,900) and responses/respondents from 10,100 to 6,166).

$10,000
No
    Yes
    Yes
No
No
No
No
Elizabeth Van Osten 202 317-3648 [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.
12/27/2019


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