[Federal Register Volume 61, Number 85 (Wednesday, May 1, 1996)]
[Notices]
[Pages 19332-19333]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-10830]
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DEPARTMENT OF THE TREASURY
Proposed Collection; Comment Request for Form 5329
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
[[Page 19333]]
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, Public Law 104-13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning
Form 5329, Additional Taxes Attributable to Qualified Retirement Plans
(Including IRAs), Annuities, and Modified Endowment Contracts.
DATES: Written comments should be received on or before July 2, 1996 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(s) 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: Additional Taxes Attributable to Qualified Retirement Plans
(Including IRAs), Annuities, and Modified Endowment Contracts.
OMB Number: 1545-0203.
Form Number: Form 5329.
Abstract: This form is used to compute and collect taxes related to
distributions from individual retirement arrangements (IRAs) and other
qualified plans. These taxes are for excess contributions to an IRA,
premature distributions from an IRA and other qualified retirement
plans, excess accumulations in an IRA and excess distributions from
qualified retirement plans. The data is used to help verify that the
correct amount of tax has been paid.
Current Actions: There are no changes being made to the form at
this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households.
Estimated Number of Respondents: 1,000,000.
Estimated Time per Respondent: 4 hr. 49 min.
Estimated Total Annual Burden Hours: 4,820,000.
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; and
(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.
Approved: April 24, 1996.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 96-10830 Filed 4-30-96; 8:45 am]
BILLING CODE 4830-01-U