Salary Reduction Simplified Employee Pension-Individual Retirement Accounts Contribution Agreement

ICR 202103-1545-002

OMB: 1545-1012

Federal Form Document

Forms and Documents
ICR Details
1545-1012 202103-1545-002
Received in OIRA 201712-1545-003
TREAS/IRS
Salary Reduction Simplified Employee Pension-Individual Retirement Accounts Contribution Agreement
Extension without change of a currently approved collection   No
Regular 04/29/2021
  Requested Previously Approved
36 Months From Approved 04/30/2021
100,000 100,000
972,000 972,000
0 0

Form 5305A-SEP is used by an employer to make an agreement to provide benefits to all employees under a salary reduction Simplified Employee Pension (SEP) described in section 408(k). This form is not to be filed with IRS, but is to be retained in the employer's records as proof of establishing such a plan, thereby justifying a deduction for contributions made to the SEP. The data is used to verify the deduction.

US Code: 26 USC 404 Name of Law: Deduction for contributions of an employer to an employees' trust or annuity plan and compensation u
   US Code: 26 USC 408 Name of Law: Individual retirement accounts
  
None

Not associated with rulemaking

  86 FR 10002 02/17/2021
86 FR 22784 04/29/2021
No

  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 100,000 100,000 0 0 0 0
Annual Time Burden (Hours) 972,000 972,000 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$1,279
No
    No
    No
No
No
No
No
JaLynne Archibald 801 620-8129

  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.
04/29/2021


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