Form 5307 - Application for Determination for Adopters of Modified Nonstandardized Pre-Approved Plans

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 5307 Application for Determination for Adopters of Modified Nonstandardized Pre-Approved Plans	Form	Modified	Available
Form 5307 Application for Determination for Adopters of Modified Nonstandardized Pre-Approved Plans	Form	Modified	Available
1545-0200 Supporting Statement.docx	Supporting Statement A	Uploaded 2024-01-12	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
17114	Application for Determination for Adopters of Modified Nonstandardized Pre-Approved Plans	Form	Modified	Application for Determination for Adopters of Modified Nonstandardized Pre-Approved Plans
17114	Application for Determination for Adopters of Modified Nonstandardized Pre-Approved Plans	Form	Modified
17114	Application for Determination for Adopters of Modified Nonstandardized Pre-Approved Plans	Instruction	Modified

ICR Details

OMB Control No: 1545-0200	ICR Reference No: 202401-1545-003
Status: Active	Previous ICR Reference No: 202006-1545-006
Agency/Subagency: TREAS/IRS	Agency Tracking No: Ready for Treasury
Title: Form 5307 - Application for Determination for Adopters of Modified Nonstandardized Pre-Approved Plans
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: 04/12/2024
Retrieve Notice of Action (NOA)	Date Received in OIRA: 01/31/2024
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2027	36 Months From Approved	04/30/2024
Responses	100,000	0	100,000
Time Burden (Hours)	3,151,000	0	5,139,000
Cost Burden (Dollars)	100,000,000	0	0

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Abstract: An adopting employer of a nonstandardized pre-approved plan that has made modifications to the terms of the pre-approved plan that are not extensive, or an adopting employer of any pre-approved plan (either standardized or nonstandardized) that amends its pre-approved plan solely to add language to satisfy the requirements of Internal Revenue Code (IRC) sections 415 and 416 due to the required aggregation of plans, use Form 5307 to request a determination letter from the IRS. The IRS uses the information to determine if the adopted plan is qualified under IRC sections 401(a) and 501(a). The form may not be used to request a determination letter for a multiple employer plan.

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Authorizing Statute(s): US Code: 26 USC 401(a) Name of Law: Requirements for qualification
   US Code: 26 USC 501(a) Name of Law: Exemption from taxation
   US Code: 5 USC 301 Name of Law: Departmental regulations
   US Code: 5 USC 552 Name of Law: Public information; agency rules, opinions, orders, records, and proceedings
   US Code: 26 USC 404 Name of Law: Deduction For Contributions Of An Employer To An Employees' Trust Or Annuity Plan And Compensation U
  

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:
	88 FR 75372	11/02/2023
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 6180	01/31/2024
Did the Agency receive public comments on this ICR? No

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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
Application for Determination for Adopters of Modified Nonstandardized Pre-Approved Plans	5307	Application for Determination for Adopters of Modified Nonstandardized Pre-Approved 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	100,000	100,000	0	0	0	0
Annual Time Burden (Hours)	3,151,000	5,139,000	0	-1,988,000	0	0
Annual Cost Burden (Dollars)	100,000,000	0	0	100,000,000	0	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: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: Form 5307 was revised to eliminate features of the determination letter program that are of limited utility to plan sponsors in comparison with the burdens they impose. The form was also revised to enable electronic submission on Pay.gov. This reduces the burden hours by 1,988,000 annually due to Agency Discretion.

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Annual Cost to Federal Government: $30,526

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.     Yes

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.     Yes

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: 01/31/2024

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