Payments From Qualified Education Programs (Under Sections 529 and 530)

Forms and Documents

Document	Type	Status	Availability
Form 1099-Q Payments From Qualified Education Programs (Under Sections 529 and 530)	Form	Modified	Repair queued
2024 Supporting Statement. 1545-1760-clean.docx	Supporting Statement A	Uploaded 2024-07-25	Missing upstream

IC Document Collections

IC ID	Collection	Type	Status	Form
19309	Payments From Qualified Education Programs (Under Sections 529 and 530)	Form	Modified

ICR Details

OMB Control No: 1545-1760	ICR Reference No: 202405-1545-016
Status: Received in OIRA	Previous ICR Reference No: 202102-1545-017
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Payments From Qualified Education Programs (Under Sections 529 and 530)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 07/31/2024

	Requested	Previously Approved
Expiration Date	36 Months From Approved	07/31/2024
Responses	3,649,000	3,689,800
Time Burden (Hours)	802,780	811,756
Cost Burden (Dollars)	0	0

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Abstract: Form 1099–Q, Payments From Qualified Education Programs (Under Sections 529 and 530), is used to report distributions from private and state qualified tuition programs as required under Internal Revenue Code sections 529 and 530. A Form 1099-Q is filed if you (a) are an officer or an employee, or the designee of an officer or employee, having control of a program established by a state or eligible educational institution; and (b) made a distribution from a qualified tuition program (QTP). A trustee of a Coverdell education savings account (ESA) must file Form 1099-Q to report distributions made from Coverdell ESAs. To lessen the burden for payers, Form 1099-Q was developed to report distributions from private and state qualified tuition programs. A copy of the Form 1099-Q must be furnished to the recipient.

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Authorizing Statute(s): US Code: 26 USC 530 Name of Law: Coverdell education savings accounts
   US Code: 26 USC 529 Name of Law: Qualified tuition programs
  

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:
	89 FR 23084	04/03/2024
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 61586	07/31/2024
Did the Agency receive public comments on this ICR? No

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

IC Title	Form No.	Form Name
Payments From Qualified Education Programs (Under Sections 529 and 530)	1099-Q	Payments From Qualified Education Programs (Under Sections 529 and 530)

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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	3,649,000	3,689,800	0	0	-40,800	0
Annual Time Burden (Hours)	802,780	811,756	0	0	-8,976	0
Annual Cost Burden (Dollars)	0	0	0	0	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: No

Burden Reduction Due to:

Short Statement: There were no changes made to the forms that resulted in any change to the burden previously reported to OMB. We are making this submission to renew the OMB approval. IRS has updated the burden estimates to reflect current filing data. This has reduced the number of respondents by -40,800 and the corresponding burden hours by -8,976 due to Agency Estimate.

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Annual Cost to Federal Government: $36,159

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: 07/31/2024

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