[Federal Register Volume 62, Number 245 (Monday, December 22, 1997)]
[Notices]
[Page 66894]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-33360]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 5306-SEP
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
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SUMMARY: The Department of the Treasury, as part of its continuing
effort to reduce paperwork and respondent burden, invites the general
public and other Federal agencies to take this opportunity to comment
on proposed and/or continuing information collections, as required by
the Paperwork Reduction Act of 1995, Pub. L. 104-13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning
Form 5306-SEP, Application for Approval of Prototype Simplified
Employee Pension-SEP.
DATES: Written comments should be received on or before February 20,
1998 to be assured of consideration.
ADDRESSES: Direct all written comments to Garrick R. Shear, Internal
Revenue Service, room 5571, 1111 Constitution Avenue NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the form and instructions should be directed to Martha R.
Brinson, (202) 622-3869, Internal Revenue Service, room 5571, 1111
Constitution Avenue NW., Washington, DC 20224.
SUPPLEMENTARY INFORMATION:
Title: Application for Approval of Prototype Simplified Employee
Pension-SEP.
OMB Number: 1545-0199.
Form Number: 5306-SEP.
Abstract: This form is used by banks, credit unions, insurance
companies, and trade or professional associations to apply for approval
of a simplified employee pension plan (SEP) to be used by more than one
employer. The data collected is used to determine if the prototype plan
submitted is an approved plan.
Current Actions: The following changes are being made:
Line 2 has been re-aligned on the revised form, eliminating line
2b(1), Latest letter serial number. This information is no longer
needed to process an application.
Line 3 has been revised to eliminate the concept of ``long'' and
``short'' amendments because this information is no longer important in
processing the application.
Lines 6 and 7 have been added to the revised form. This information
is important in helping the person reviewing the application to know
the type of submission and the name of the mass submitter, if
applicable.
Line 8d has been deleted because this item is no longer
appropriate.
Type of Review: Revision of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 650.
Estimated Time Per Respondent: 11 hr., 38 min.
Estimated Total Annual Burden Hours: 7,566.
The following paragraph applies to all of the collections of
information covered by this notice:
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collection of
information displays a valid OMB control number. Books or records
relating to a collection of information must be retained as long as
their contents may become material in the administration of any
internal revenue law. Generally, tax returns and tax return information
are confidential, as required by 26 U.S.C. 6103.
Request for Comments
Comments submitted in response to this notice will be summarized
and/or included in the request for OMB approval. All comments will
become a matter of public record. Comments are invited on: (a) Whether
the collection of information is necessary for the proper performance
of the functions of the agency, including whether the information shall
have practical utility; (b) the accuracy of the agency's estimate of
the burden of the collection of information; (c) ways to enhance the
quality, utility, and clarity of the information to be collected; (d)
ways to minimize the burden of the collection of information on
respondents, including through the use of automated collection
techniques or other forms of information technology; and (e) estimates
of capital or start-up costs and costs of operation, maintenance, and
purchase of services to provide information.
Approved: December 16, 1997.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 97-33360 Filed 12-19-97; 8:45 am]
BILLING CODE 4830-01-U
