Emergency Justification
Waiver of 60-Day Rollover Requirement
1545-2269
The burden increase is due to the ICR being discontinued in error. The discontinuation reasoning was that burden was being accounted for under OMB control number 1545-0047 ICR 201811-1545-003, Return of Organization Exempt From Income Tax, under the IRS Taxpayer Burden Model (TBM).
However, the burden collection in the revenue procedure affects individual taxpayers. The burden is not included in 1545-0047, nor was it included in the last 1545-0074 submission. The agency is requesting a reinstatement of 1545-2269, which increases burden from zero to 160 responses and 480 annual burden time hours (the original ICR was 150 responses and 450 hours). The change in responses is being made as an update in agency estimates based on most recent data.
The agency is requesting a reinstatement of 1545-2269 in order to comply with PRA requirement and to release the modified Revenue Procedure due to come out in October. An emergency submission will provide the necessary guidance to allow plan administrators and IRA trustees to accept and report contributions as rollover contributions.
| File Type | application/vnd.openxmlformats-officedocument.wordprocessingml.document |
| Author | Dennis Kerry |
| File Modified | 0000-00-00 |
| File Created | 2021-01-13 |