80 FR 51608 - Agency Information Collection Activities; Submission for OMB Review; Comment Request; Voluntary Fiduciary Correction Program

DEPARTMENT OF LABOR
Office of the Secretary

Federal Register Volume 80, Issue 164 (August 25, 2015)

Page Range		51608-51609
FR Document		2015-20966

The Department of Labor (DOL) is submitting the Employee Benefits Security Administration (EBSA) sponsored information collection request (ICR) titled, ``Voluntary Fiduciary Correction Program,'' to the Office of Management and Budget (OMB) for review and approval for continued use, without change, in accordance with the Paperwork Reduction Act of 1995 (PRA), 44 U.S.C. 3501 et seq. Public comments on the ICR are invited.

Federal Register, Volume 80 Issue 164 (Tuesday, August 25, 2015)

[Federal Register Volume 80, Number 164 (Tuesday, August 25, 2015)]
[Notices]
[Pages 51608-51609]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-20966]


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DEPARTMENT OF LABOR

Office of the Secretary


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Voluntary Fiduciary Correction Program

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Department of Labor (DOL) is submitting the Employee 
Benefits Security Administration (EBSA) sponsored information 
collection request (ICR) titled, ``Voluntary Fiduciary Correction 
Program,'' to the Office of Management and Budget (OMB) for review and 
approval for continued use, without change, in accordance with the 
Paperwork Reduction Act of 1995 (PRA), 44 U.S.C. 3501 et seq. Public 
comments on the ICR are invited.

DATES: The OMB will consider all written comments that agency receives 
on or before September 24, 2015.

ADDRESSES: A copy of this ICR with applicable supporting documentation; 
including a description of the likely respondents, proposed frequency 
of response, and estimated total burden may be obtained free of charge 
from the RegInfo.gov Web site at http://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=201507-1210-003 (this link will only become active 
on the day following publication of this notice) or by contacting 
Michel Smyth by telephone at 202-693-4129, TTY 202-693-8064, (these are 
not toll-free numbers) or by email at [email protected].
    Submit comments about this request by mail or courier to the Office 
of Information and Regulatory Affairs, Attn: OMB Desk Officer for DOL-
EBSA, Office of Management and Budget, Room 10235, 725 17th Street NW., 
Washington, DC 20503; by Fax: 202-395-5806 (this is not a toll-free 
number); or by email: [email protected]. Commenters are 
encouraged, but not required, to send a courtesy copy of any comments 
by mail or courier to the U.S. Department of Labor-OASAM, Office of the 
Chief Information Officer, Attn: Departmental Information Compliance 
Management Program, Room N1301, 200 Constitution Avenue NW., 
Washington, DC 20210; or by email: [email protected].

FOR FURTHER INFORMATION CONTACT:  Michel Smyth by telephone at 202-693-
4129, TTY 202-693-8064, (these are not toll-free numbers) or by email 
at [email protected].

    Authority:  44 U.S.C. 3507(a)(1)(D).

SUPPLEMENTARY INFORMATION: This ICR seeks to extend PRA authority for 
the Voluntary Fiduciary Correction Program (VFCP) information 
collection. The VFCP provides a method for voluntary correction of 
specified types of transactions that violate (or are suspected of 
violating) Employee Retirement Income Security Act of 1974 (ERISA), 29 
U.S.C. 1001 et seq., prohibited transaction provisions and for securing 
DOL assurance that the agency will take no further action with respect 
to the corrected transaction. The exemption, under specified 
conditions, relieves an applicant making a correction under the VFCP of 
additional taxes due pursuant to Internal Revenue Code section 4975. 
See 26 U.S.C. 4975. ERISA section 502 authorizes this information 
collection. See 29 U.S.C. 1132.
    This information collection is subject to the PRA. A Federal agency 
generally cannot conduct or sponsor a collection of information, and 
the public is generally not required to respond to an information 
collection, unless it is approved by the OMB under the PRA and displays 
a currently valid OMB Control Number. In addition, notwithstanding any 
other provisions of law, no person shall generally be subject to 
penalty for failing to comply with a collection of information that 
does not display a valid Control Number. See 5 CFR 1320.5(a) and 
1320.6. The DOL obtains OMB approval for this information collection 
under Control Number 1210-0118.
    OMB authorization for an ICR cannot be for more than three (3) 
years without renewal, and the current approval for this collection is 
scheduled to expire on August 31, 2015. The DOL seeks to extend PRA 
authorization for this information collection for three (3) more years, 
without any change to existing requirements. The DOL notes that 
existing information collection requirements submitted to the OMB 
receive a month-to-month extension while they undergo review. For 
additional substantive information about this ICR, see the related 
notice published in the Federal Register on June 17, 2015 (80 FR 
34696).
    Interested parties are encouraged to send comments to the OMB, 
Office of Information and Regulatory Affairs at the address shown in 
the ADDRESSES section within thirty (30) days of publication of this 
notice in the Federal Register. In order to help ensure appropriate 
consideration, comments should mention OMB Control Number 1210-0118. 
The OMB is particularly interested in comments that:
     Evaluate whether the proposed collection of information is 
necessary for the proper performance of the functions of the agency, 
including whether the information will have practical utility;
     Evaluate the accuracy of the agency's estimate of the 
burden of the proposed collection of information, including the 
validity of the methodology and assumptions used;
     Enhance the quality, utility, and clarity of the 
information to be collected; and
     Minimize the burden of the collection of information on 
those who are to respond, including through the use of appropriate 
automated, electronic, mechanical, or other

[[Page 51609]]

technological collection techniques or other forms of information 
technology, e.g., permitting electronic submission of responses.
    Agency: DOL-EBSA.
    Title of Collection: Voluntary Fiduciary Correction Program.
    OMB Control Number: 1210-0118.
    Affected Public: Private Sector--businesses or other for profits.
    Total Estimated Number of Respondents: 1,800.
    Total Estimated Number of Responses: 50,700.
    Total Estimated Annual Time Burden: 8,100 hours.
    Total Estimated Annual Other Costs Burden: $329,200.

    Dated: August 19, 2015.
Michel Smyth,
Departmental Clearance Officer.
[FR Doc. 2015-20966 Filed 8-24-15; 8:45 am]
 BILLING CODE 4510-29-P

51608 Federal Register / Vol. 80, No. 164 / Tuesday, August 25, 2015 / Notices

publication of this notice in the Federal approval for continued use, without Code section 4975. See 26 U.S.C. 4975.
Register. In order to help ensure change, in accordance with the ERISA section 502 authorizes this
appropriate consideration, comments Paperwork Reduction Act of 1995 information collection. See 29 U.S.C.
should mention OMB Control Number (PRA), 44 U.S.C. 3501 et seq. Public 1132.
1218–0196. The OMB is particularly comments on the ICR are invited. This information collection is subject
interested in comments that: DATES: The OMB will consider all to the PRA. A Federal agency generally
• Evaluate whether the proposed written comments that agency receives cannot conduct or sponsor a collection
collection of information is necessary on or before September 24, 2015. of information, and the public is
for the proper performance of the ADDRESSES: A copy of this ICR with generally not required to respond to an
functions of the agency, including applicable supporting documentation; information collection, unless it is
whether the information will have including a description of the likely approved by the OMB under the PRA
practical utility; respondents, proposed frequency of and displays a currently valid OMB
• Evaluate the accuracy of the response, and estimated total burden Control Number. In addition,
agency’s estimate of the burden of the may be obtained free of charge from the notwithstanding any other provisions of
proposed collection of information, RegInfo.gov Web site at http:// law, no person shall generally be subject
including the validity of the www.reginfo.gov/public/do/ to penalty for failing to comply with a
methodology and assumptions used; PRAViewICR?ref_nbr=201507-1210-003 collection of information that does not
• Enhance the quality, utility, and (this link will only become active on the display a valid Control Number. See 5
clarity of the information to be day following publication of this notice) CFR 1320.5(a) and 1320.6. The DOL
collected; and or by contacting Michel Smyth by obtains OMB approval for this
• Minimize the burden of the telephone at 202–693–4129, TTY 202– information collection under Control
collection of information on those who 693–8064, (these are not toll-free Number 1210–0118.
are to respond, including through the numbers) or by email at DOL_PRA_ OMB authorization for an ICR cannot
use of appropriate automated, PUBLIC@dol.gov. be for more than three (3) years without
electronic, mechanical, or other Submit comments about this request renewal, and the current approval for
technological collection techniques or by mail or courier to the Office of this collection is scheduled to expire on
other forms of information technology, Information and Regulatory Affairs, August 31, 2015. The DOL seeks to
e.g., permitting electronic submission of Attn: OMB Desk Officer for DOL–EBSA, extend PRA authorization for this
responses. Office of Management and Budget, information collection for three (3) more
Agency: DOL–OSHA. Room 10235, 725 17th Street NW., years, without any change to existing
Title of Collection: Marine Terminal Washington, DC 20503; by Fax: 202– requirements. The DOL notes that
Operations and Longshoring Standards. 395–5806 (this is not a toll-free existing information collection
OMB Control Number: 1218–0196. number); or by email: OIRA_ requirements submitted to the OMB
Affected Public: Private Sector— submission@omb.eop.gov. Commenters receive a month-to-month extension
businesses or other for-profits. are encouraged, but not required, to while they undergo review. For
Total Estimated Number of send a courtesy copy of any comments additional substantive information
Respondents: 1,396. by mail or courier to the U.S. about this ICR, see the related notice
Total Estimated Number of Department of Labor-OASAM, Office of published in the Federal Register on
Responses: 279,280. the Chief Information Officer, Attn: June 17, 2015 (80 FR 34696).
Total Estimated Annual Time Burden: Departmental Information Compliance Interested parties are encouraged to
65,694 hours. Management Program, Room N1301, send comments to the OMB, Office of
Total Estimated Annual Other Costs 200 Constitution Avenue NW., Information and Regulatory Affairs at
Burden: $0. Washington, DC 20210; or by email: the address shown in the ADDRESSES
Dated: August 18, 2015. DOL_PRA_PUBLIC@dol.gov. section within thirty (30) days of
FOR FURTHER INFORMATION CONTACT: publication of this notice in the Federal
Michel Smyth,
Michel Smyth by telephone at 202–693– Register. In order to help ensure
Departmental Clearance Officer.
4129, TTY 202–693–8064, (these are not appropriate consideration, comments
[FR Doc. 2015–20965 Filed 8–24–15; 8:45 am] should mention OMB Control Number
toll-free numbers) or by email at DOL_
BILLING CODE 4510–26–P
PRA_PUBLIC@dol.gov. 1210–0118. The OMB is particularly
interested in comments that:
Authority: 44 U.S.C. 3507(a)(1)(D). • Evaluate whether the proposed
DEPARTMENT OF LABOR SUPPLEMENTARY INFORMATION: This ICR collection of information is necessary
seeks to extend PRA authority for the for the proper performance of the
Office of the Secretary Voluntary Fiduciary Correction Program functions of the agency, including
(VFCP) information collection. The whether the information will have
Agency Information Collection
VFCP provides a method for voluntary practical utility;
Activities; Submission for OMB
Review; Comment Request; Voluntary
correction of specified types of • Evaluate the accuracy of the
transactions that violate (or are agency’s estimate of the burden of the
Fiduciary Correction Program
suspected of violating) Employee proposed collection of information,
ACTION: Notice. Retirement Income Security Act of 1974 including the validity of the
(ERISA), 29 U.S.C. 1001 et seq.,
asabaliauskas on DSK5VPTVN1PROD with NOTICES

methodology and assumptions used;
SUMMARY: The Department of Labor prohibited transaction provisions and • Enhance the quality, utility, and
(DOL) is submitting the Employee for securing DOL assurance that the clarity of the information to be
Benefits Security Administration agency will take no further action with collected; and
(EBSA) sponsored information respect to the corrected transaction. The • Minimize the burden of the
collection request (ICR) titled, exemption, under specified conditions, collection of information on those who
‘‘Voluntary Fiduciary Correction relieves an applicant making a are to respond, including through the
Program,’’ to the Office of Management correction under the VFCP of additional use of appropriate automated,
and Budget (OMB) for review and taxes due pursuant to Internal Revenue electronic, mechanical, or other

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Federal Register / Vol. 80, No. 164 / Tuesday, August 25, 2015 / Notices 51609

technological collection techniques or DATES: Effective Date: August 20, 2015. Dated: August 18, 2015.
other forms of information technology, Section 254 of the Balanced Budget and Maame Ewusi-Mensah Frimpong,
e.g., permitting electronic submission of Emergency Deficit Control Act of 1985 VP/General Counsel and Corporate Secretary,
responses. requires the Office of Management and Millennium Challenge Corporation.
Agency: DOL–EBSA. Budget (OMB) to issue a Sequestration
Title of Collection: Voluntary Report on Countries That Are
Update Report on August 20th of each Candidates for Millennium Challenge
Fiduciary Correction Program. year. With regard to this update report
OMB Control Number: 1210–0118. Compact Eligibility for Fiscal Year 2016
and to each of the three required and Countries That Would Be
Affected Public: Private Sector—
businesses or other for profits. sequestration reports, section 254(b) Candidates But for Legal Prohibitions
Total Estimated Number of specifically states the following:
Summary
Respondents: 1,800. SUBMISSION AND AVAILABILITY OF
Total Estimated Number of REPORTS.—Each report required by this This report to Congress is provided in
Responses: 50,700. section shall be submitted, in the case of accordance with section 608(a) of the
Total Estimated Annual Time Burden: CBO, to the House of Representatives, the Millennium Challenge Act of 2003, as
8,100 hours. Senate and OMB and, in the case of OMB, amended, 22 U.S.C. 7701, 7707(a) (the
Total Estimated Annual Other Costs to the House of Representatives, the Senate, Act).
Burden: $329,200. and the President on the day it is issued. On The Act authorizes the provision of
Dated: August 19, 2015. the following day a notice of the report shall assistance for global development
Michel Smyth, be printed in the Federal Register. through the Millennium Challenge
Corporation (MCC) for countries that
Departmental Clearance Officer.
ADDRESSES: The OMB Sequestration enter into a Millennium Challenge
[FR Doc. 2015–20966 Filed 8–24–15; 8:45 am]
Reports to the President and Congress is Compact with the United States to
BILLING CODE 4510–29–P support policies and programs that
available on-line on the OMB home
page at: http://www.whitehouse.gov/ advance the progress of such countries
omb/legislative_reports/sequestration. to achieve lasting economic growth and
OFFICE OF MANAGEMENT AND poverty reduction. The Act requires
BUDGET FOR FURTHER INFORMATION CONTACT: MCC to take a number of steps in
Thomas Tobasko, 6202 New Executive selecting countries with which MCC
OMB Sequestration Update Report to Office Building, Washington, DC 20503, will seek to enter into a compact,
the President and Congress for Fiscal Email address: ttobasko@omb.eop.gov, including determining the countries that
Year 2016 telephone number: (202) 395–5745, FAX will be eligible countries for fiscal year
AGENCY: Executive Office of the number: (202) 395–4768. Because of (FY) 2016 based on (a) a country’s
President, Office of Management and delays in the receipt of regular mail demonstrated commitment to (i) just
Budget. related to security screening, and democratic governance, (ii)
ACTION: Notice of availability of the respondents are encouraged to use economic freedom, and (iii) investments
OMB Sequestration Update Report to electronic communications. in its people; and (b) the opportunity to
the President and Congress for FY 2016. reduce poverty and generate economic
Shaun Donovan,
growth in the country, and (c) the
SUMMARY: OMB is issuing the OMB Director. availability of funds to MCC. These
Sequestration Update Report to the [FR Doc. 2015–20982 Filed 8–24–15; 8:45 am] steps include the submission of reports
President and Congress for Fiscal Year BILLING CODE P to the congressional committees
2016 to report on the status of the specified in the Act and the publication
discretionary caps and on the of notices in the Federal Register that
compliance of pending discretionary identify:
appropriations legislation with those MILLENNIUM CHALLENGE The countries that are ‘‘candidate
caps. For fiscal year 2015, the report CORPORATION countries’’ for FY 2016 based on their
finds enacted appropriations to be per capita income levels and their
within the spending limits. For fiscal [MCC FR 15–01] eligibility to receive assistance under
year 2016, the report finds that if the U.S. law and countries that would be
current limits remain unchanged, under Report on Countries That Are candidate countries but for specified
OMB’s estimates of actions to date by Candidates for Millennium Challenge legal prohibitions on assistance (section
both the House of Representatives and Account Eligibility in Fiscal Year 2016 608(a) of the Act);
Senate for the 12 annual appropriations and Countries That Would Be The criteria and methodology that the
bills would result in a sequestration of Candidates But For Legal Prohibitions MCC Board of Directors (Board) will use
approximately $3 million and $1 to measure and evaluate the relative
million, respectively, in discretionary AGENCY: Millennium Challenge policy performance of the ‘‘candidate
programs in the defense category. The Corporation. countries’’ consistent with the
report also finds that fiscal year 2016 requirements of subsections (a) and (b)
actions by the House of Representatives ACTION: Notice. of section 607 of the Act in order to
for the non-defense category would determine ‘‘eligible countries’’ from
asabaliauskas on DSK5VPTVN1PROD with NOTICES

result in a sequestration of nearly $1.8 SUMMARY: Section 608(a) of the among the ‘‘candidate countries’’
billion while OMB’s estimate of actions Millennium Challenge Act of 2003 (section 608(b) of the Act); and
by the Senate for the non-defense requires the Millennium Challenge The list of countries determined by
category are in compliance with the Corporation to publish a report that the Board to be ‘‘eligible countries’’ for
current spending limit. Finally, the identifies countries that are ‘‘candidate FY 2016, identification of such
report also contains OMB’s Preview countries’’ for Millennium Challenge countries with which the Board will
Estimate of the Disaster Relief Funding Account assistance during FY 2016. The seek to enter into compacts, and a
Adjustment for FY 2016. report is set forth in full below. justification for such eligibility

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Document Created: 2018-02-23 11:02:51
Document Modified: 2018-02-23 11:02:51

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		Notice.
Dates		The OMB will consider all written comments that agency receives on or before September 24, 2015.
Contact		Michel Smyth by telephone at 202-693- 4129, TTY 202-693-8064, (these are not toll-free numbers) or by email at [email protected]
FR Citation		80 FR 51608

80 FR 51608 - Agency Information Collection Activities; Submission for OMB Review; Comment Request; Voluntary Fiduciary Correction Program

DEPARTMENT OF LABOROffice of the Secretary

Federal Register Volume 80, Issue 164 (August 25, 2015)

DEPARTMENT OF LABOR
Office of the Secretary