Notices Following a Substantial Cessation of Operations

Forms and Documents

Document Name	Status
4062(e) Supporting Statement.04.docx Supporting Statement A	2022-07-14

IC Document Collections

IC ID	Document Title	Status
237358	Notices Following a Substantial Cessation of Operations Instruction	Modified

ICR Details

OMB Control No: 1212-0073	ICR Reference No: 202207-1212-004
Status: Received in OIRA	Previous ICR Reference No: 201907-1212-004
Agency/Subagency: PBGC	Agency Tracking No:
Title: Notices Following a Substantial Cessation of Operations
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 07/14/2022

	Requested	Previously Approved
Expiration Date	36 Months From Approved	08/31/2022
Responses	5	70
Time Burden (Hours)	39	315
Cost Burden (Dollars)	39,415	92,750

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Abstract: Section 4062(e) of the Employee Retirement Income Security Act of 1974 (ERISA) imposes reporting obligations in the event of a “substantial cessation of operations.” This form series is used to fulfill these reporting obligations.

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Authorizing Statute(s): US Code: 29 USC 1362 Name of Law: Liability for termination of single-employer plans under a distress termination or a termination by
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 27666	05/09/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 42215	07/14/2022
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Notices Following a Substantial Cessation of Operations	PBGC Form 4062(e)-01 , PBGC Form 4062(e)-02 , PBGC Form 4062(e)-03 , PBGC Form 4062(e)-04	Notice of Section 4062(e) Event ,   Notice of Election under ERISA 4062(e)(4) ,   Notice of Additional Contributions under ERISA 4062(e)(4) ,   Notice of Failure to Make Additional Contributions under ERISA 4062(e)(4)

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ICR Summary of Burden

	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	5	70	0	0	-65	0
Annual Time Burden (Hours)	39	315	0	0	-276	0
Annual Cost Burden (Dollars)	39,415	92,750	0	0	-53,335	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The changes to the estimates of hour and cost burdens of this collection of information are attributable to PBGC’s usage of experience-based burden estimation. PBGC’s prior estimates of annual hour burden and cost burden for this form series were not experienced-based, as this information collection was new at the time.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 07/14/2022

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