Request for Change in Plan/Trust Year (Form 5308)

Forms and Documents

Document Name	Status
Form Form 5308 Request for Change in Plan/Trust Year Form and Instruction	Modified
2024 Supporting Statement 1545-0201-7-17-2024.docx Supporting Statement A	2024-07-18

IC Document Collections

IC ID	Document Title	Status
39701	Request for Change in Plan/Trust Year Form and Instruction	Modified

ICR Details

OMB Control No: 1545-0201	ICR Reference No: 202405-1545-019
Status: Received in OIRA	Previous ICR Reference No: 202102-1545-006
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Request for Change in Plan/Trust Year (Form 5308)
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	20
Time Burden (Hours)	24	14
Cost Burden (Dollars)	3,000	0

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Abstract: Form 5308 is used to request permission to change the plan or trust year for a pension benefit plan. The information submitted is used in determining whether IRS should grant permission for the change.

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Authorizing Statute(s): US Code: 26 USC 442 Name of Law: Change of annual accounting period
   US Code: 26 USC 412 Name of Law: Minimum funding standards
  

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 24570	04/08/2024
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
Request for Change in Plan/Trust Year	Form 5308	Request for Change in Plan/Trust Year

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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	20	0	0	-17	0
Annual Time Burden (Hours)	24	14	0	10	0	0
Annual Cost Burden (Dollars)	3,000	0	0	0	3,000	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

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

Burden Reduction Due to:

Short Statement: IRS is adjusting the number of respondents based on recent filing numbers, updating the time per response, and updating the OMB submission to include the fee as the out-of-pocket respondent costs. The changes in burden are due to Agency Estimate.

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Annual Cost to Federal Government: $19,285

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: 07/31/2024

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