Process for Expedited Approval of an Exemption for Prohibited Transaction, Prohibited Transaction Class Exemption 1996-62

ICR 202007-1210-001

OMB: 1210-0098

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2020-10-21
Supplementary Document
2020-10-20
Supplementary Document
2020-10-14
Supplementary Document
2020-10-14
Supporting Statement A
2020-07-14
ICR Details
1210-0098 202007-1210-001
Active 201706-1210-002
DOL/EBSA
Process for Expedited Approval of an Exemption for Prohibited Transaction, Prohibited Transaction Class Exemption 1996-62
Extension without change of a currently approved collection   No
Regular
Approved without change 01/04/2021
Retrieve Notice of Action (NOA) 10/21/2020
  Inventory as of this Action Requested Previously Approved
01/31/2024 36 Months From Approved 12/31/2020
3,507 0 3,515
88 0 88
30,156 0 20,457

This class exemption permits a plan to seek approval on an accelerated basis of otherwise prohibited transactions by providing the Department and interested persons with information demonstrating the transaction is substantially similar to at least two individual exemptions previously granted and presents little, if any, opportunity for abuse or risk of loss to a plans' participants and beneficiaries.

US Code: 29 USC 1108 Name of Law: Employee Retirement Income Security Act of 1974
   US Code: 26 USC 4975 Name of Law: Internal Revenue Code of 1986
  
None

Not associated with rulemaking

  85 FR 23856 04/29/2020
85 FR 67013 10/21/2020
No

1
IC Title Form No. Form Name
Prohibited Transaction Class Exemption 1996-62, Process for Expedited Approval of an Exemption for Prohibited Transaction

  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 3,507 3,515 0 0 -8 0
Annual Time Burden (Hours) 88 88 0 0 0 0
Annual Cost Burden (Dollars) 30,156 20,457 0 0 9,699 0
No
No

$0
No
    No
    No
No
No
No
No
Chris Cosby 202 693-8540

  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.
10/21/2020


© 2024 OMB.report | Privacy Policy