98-5539. Submission to OMB for Review; Comment Request

[Federal Register Volume 63, Number 42 (Wednesday, March 4, 1998)]
[Notices]
[Pages 10673-10674]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-5539]


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DEPARTMENT OF THE TREASURY


Submission to OMB for Review; Comment Request

February 24, 1998.
    The Department of Treasury has submitted the following public 
information collection requirement(s) to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Public Law 104-13. Copies of 
the submission(s) may be obtained by calling the Treasury Bureau 
Clearance Officer listed. Comments regarding this information 
collection should be addressed to the OMB reviewer listed and to the 
Treasury Department Clearance Officer, Department of the Treasury, Room 
2110, 1425 New York Avenue, NW., Washington, DC 20220.

Dates: Written comments should be received on or before April 3, 1998 
to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0199.
    Form Number: IRS Form 5306-SEP.
    Type of Review: Revision.
    Title: Application of Approval of Prototype Simplified Employee 
Pension-SEP.
    Description: 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 to be used by more than one 
employer. The data collected is used to determine if the prototype plan 
submitted is an approved plan.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 650.
    Estimated Burden Hours Per Respondent/Recordkeeper:
    Recordkeeping--8 hours, 8 minutes.
    Learning about the law or the form--1 hour, 10 minutes.
    Preparing the form--2 hours, 17 minutes.
    Copying, assembling, and sending the form to the IRS--16 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 7,696 hours.
    OMB Number: 1545-0367.
    Form Number: IRS Forms 4804 and 4802.
    Type of Review: Extension.
    Title: Transmittal of Information Returns Reports Magnetically/
Electronically (4804); and Transmittal of Information Returns Reports 
Magnetically/Electronically (Continuation of Form 4804) (4802).
    Description: 26 U.S.C. 6041 and 6042 require all persons engaged in 
a trade or business and making payments of taxable income must file 
reports of this income with the IRS. In certain cases, this information 
must be filed on magnetic media. Forms 4804 and 4802 are used to 
provide a signature and balancing totals for magnetic media filers of 
information returns.
    Respondents: Business or other for-profit, Individuals or 
households, Not-for-profit institutions, Farms, Federal Government.
    Estimated Number of Respondents/Recordkeepers: 37,640.
    Estimated Burden Hours Per Respondent/Recordkeeper:
    Preparing Form 4804--18 minutes.
    Preparing Form 4802--20 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 45,406 hours.

    OMB Number: 1545-1036.
    Form Number: IRS Form 8716.
    Type of Review: Revision.
    Title: Election to Have a Tax Year Other Than a Required Tax Year.
    Description: Filed by partnerships, S Corporations, and personal 
service corporations, under section 444(a), to retain or to adopt a tax 
year that is not a required tax year. Service Centers accept Form 8716 
and use the form information to assign master-file codes that allow the 
Center to accept the filer's tax return filed for a tax year (fiscal 
year) that would not otherwise be acceptable.
    Respondents: Business or other for-profit, Farms.
    Estimated Number of Respondents/Recordkeepers: 40,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:
    Recordkeeping--2 hours, 38 minutes.
    Learning about the law or the form--1 hour, 12 minutes.
    Preparing and sending the form to the IRS--1 hour, 17 minutes.
    Frequency of Response: Other (one-time).
    Estimated Total Reporting/Recordkeeping Burden: 204,400 hours.
    OMB Number: 1545-1577.

[[Page 10674]]

    Regulation Project Number: REG-109704-97 NPRM.
    Type of Review: Extension.
    Title: HIPAA Mental Health Parity Act; (Temporary) Interim Rules 
for Mental Health Parity.
    Description: The regulations provide guidance for group health 
plans with mental health benefits about requirements relating to parity 
in the dollar limits imposed on mental health benefits and medical/
surgical benefits.
    Respondents: Business or other for-profit, Not-for-profit 
institutions, State, Local or Tribal Government.
    Estimated Number of Respondents/Recordkeepers: 7,053.
    Estimated Burden Hours Per Respondent/Recordkeeper: 1 minute.
    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 3,289 hours.
    Clearance Officer: Garrick Shear [phone].
    Internal Revenue Service, Room 5571 1111 Constitution Avenue, NW., 
Washington, DC 20224.
    OMB Reviewer: Alexander T. Hunt [phone]. Office of 
Management and Budget, Room 10226, New Executive Office Building, 
Washington, DC 20503.
Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 98-5539 Filed 3-3-98; 8:45 am]
BILLING CODE 4830-01-P