Abandoned Individual Account Plan Termination

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form STRAP Special Terminal Report for Abandoned Plans	Form	Modified	Available
Form A Model Notice of Intent to Terminate Abandoned Plan	Form	Modified	Available
Form C Model Notice of Intent to Serve as QTA	Form	Modified	Available
Form D Model Notice of Plan Termination	Form	Modified	Available
Form A Model Notice of Intent to Terminate Plan	Form	Modified	Available
Form B Model Notice of Plan Abandonment and Intent to Serve as Qualified Termination Administrator	Form	Modified	Available
Form E Model Abandoned Plans Final Notice	Form	Modified	Available
1210-0127 Abandoned Plans Supporting Statement (Final) 03.15.24.docx	Supporting Statement A	Uploaded 2024-03-15	Available
1210-0127 Abandoned Plans Supporting Statement (Final) 03.15.24.docx	Supporting Statement A	Uploaded 2024-03-15	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
13509	Abandoned Individual Account Plan Termination	Form	Modified	Special Terminal Report for Abandoned Plans
13509	Abandoned Individual Account Plan Termination	Form	Modified	Model Notice of Intent to Terminate Abandoned Plan
13509	Abandoned Individual Account Plan Termination	Form	Modified	Model Notice of Intent to Serve as QTA
13509	Abandoned Individual Account Plan Termination	Form	Modified	Model Notice of Plan Termination
13509	Abandoned Individual Account Plan Termination	Form	Modified	Model Notice of Intent to Terminate Plan
13509	Abandoned Individual Account Plan Termination	Form	Modified	Model Notice of Plan Abandonment and Intent to Serve as Qualified Termination Administrator
13509	Abandoned Individual Account Plan Termination	Form	Modified	Model Abandoned Plans Final Notice
13509	Abandoned Individual Account Plan Termination	Instruction	Modified

ICR Details

OMB Control No: 1210-0127	ICR Reference No: 202312-1210-001
Status: Active	Previous ICR Reference No: 202201-1210-009
Agency/Subagency: DOL/EBSA	Agency Tracking No:
Title: Abandoned Individual Account Plan Termination
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 05/31/2024
Retrieve Notice of Action (NOA)	Date Received in OIRA: 05/17/2024
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2027	36 Months From Approved	04/30/2025
Responses	1,162,551	0	1,134,752
Time Burden (Hours)	56,196	0	47,902
Cost Burden (Dollars)	53,258	0	58,989

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Abstract: This collection contains disclosure, recordkeeping, and reporting requirements associated with EBSA's abandoned plan program, which allows plan custodians to wind up plans that have been abandoned due to significant business events, such as bankruptcies, mergers, acquisitions, and other similar transactions affecting the status of an employer.

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Authorizing Statute(s): US Code: 29 USC 1104 Name of Law: Employee Retirement Income Security Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1210-AB47	Final or interim final rulemaking	89 FR 43636	05/17/2024

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 74063	12/12/2012
Did the Agency receive public comments on this ICR? Yes

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

table that charts list of burden

IC Title	Form No.	Form Name
Abandoned Individual Account Plan Termination	STRAP, D, E, B, A, C, A	Model Abandoned Plans Final Notice ,   Model Notice of Plan Abandonment and Intent to Serve as Qualified Termination Administrator ,   Model Notice of Intent to Terminate Plan ,   Model Notice of Plan Termination ,   Model Notice of Intent to Serve as QTA ,   Model Notice of Intent to Terminate Abandoned Plan ,   Special Terminal Report for Abandoned Plans

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ICR Summary of Burden

table that charts list of burden

	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	1,162,551	1,134,752	0	0	27,799	0
Annual Time Burden (Hours)	56,196	47,902	0	0	8,294	0
Annual Cost Burden (Dollars)	53,258	58,989	0	0	-5,731	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 Department has revised its cost estimates to reflect revisions made by the Interim Final Rule and amendment to PTE 2006-06 account for increases in wage rates, increase in the usage of the Abandoned Plan Program, as well as an increase in the number of terminating plans. Additionally, the Department is now accounting for the burden of an outside QTA as part of the hour burden captured in Item 12 above. As a result, the total hour burden and the equivalent cost of the total hour burden has increased, whereas the total cost burden has decreased. Making this transition moved 8,294 hours of burden that would have otherwise been reported as cost burden in question 13 to be reported in question 12 as an hour burden. The updating of assumptions, primarily dealing with how notices are sent, and the incorporation of the features of the new rule resulted in a net decrease in cost burden of $5,731.

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Annual Cost to Federal Government: $114,230

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: 05/17/2024

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