Payment of Premiums (29 CFR part 4007)

ICR 202012-1212-003

OMB: 1212-0009

Federal Form Document

Forms and Documents
IC Document Collections
IC ID
Document
Title
Status
13518 Modified
ICR Details
1212-0009 202012-1212-003
Received in OIRA 202007-1212-001
PBGC
Payment of Premiums (29 CFR part 4007)
Revision of a currently approved collection   No
Regular 12/23/2020
  Requested Previously Approved
36 Months From Approved 12/31/2022
31,245 31,245
13,540 13,540
21,621,540 21,621,540

Administrators of PBGC-insured pension plans file with PBGC premium information and premium payments required under 29 USC 1307 and 29 CFR Part 4007, which also requires retention and production of records necessary to support premium filings. The information identifies payers and lets PBGC verify premium computations and perform premium audits. It also helps PBGC project premium income, improve financial projections, estimate its exposure if plans terminate, track movement of participants and assets, determine whether new plans are being created, and update its insured-plan inventory. The retained records facilitate audits.

US Code: 29 USC 1302(b)(3), 1303(a),1306, 1307 Name of Law: ERISA
  
None

Not associated with rulemaking

  85 FR 51759 08/21/2020
85 FR 83630 12/22/2020
No

1
IC Title Form No. Form Name
Payment of Premiums (29 CFR part 4007) Premium Filing Premium Filing Screen Shots

  Total Request 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 31,245 31,245 0 0 0 0
Annual Time Burden (Hours) 13,540 13,540 0 0 0 0
Annual Cost Burden (Dollars) 21,621,540 21,621,540 0 0 0 0
No
No

$12,000,000
No
    No
    No
No
No
No
No
Melissa Rifkin 202 326-4400 [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.
12/23/2020


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