81 FR 49357 - Proposed Collection; Comment Request for Form 5500-EZ

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 81, Issue 144 (July 27, 2016)

Page Range		49357-49357
FR Document		2016-17763

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, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Form 5500-EZ, Annual Return of One-Participant (Owners and Their Spouses) Retirement Plan.

Federal Register, Volume 81 Issue 144 (Wednesday, July 27, 2016)

[Federal Register Volume 81, Number 144 (Wednesday, July 27, 2016)]
[Notices]
[Page 49357]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-17763]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 5500-EZ

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, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning 
Form 5500-EZ, Annual Return of One-Participant (Owners and Their 
Spouses) Retirement Plan.

DATES: Written comments should be received on or before September 26, 
2016 to be assured of consideration.

ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal 
Revenue Service, Room 6526, 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 Allan 
Hopkins, at Internal Revenue Service, Room 6129, 1111 Constitution 
Avenue NW., Washington, DC 20224, or through the Internet at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Annual Return of One-Participant (Owners and Their Spouses) 
Retirement Plan.
    OMB Number: 1545-0956.
    Form Number: 5500-EZ.
    Abstract: Form 5500-EZ is an annual return filed by a one-
participant or one-participant and spouse pension plan. The IRS uses 
this data to determine if the plan appears to be operating properly as 
required under the Internal Revenue Code or whether the plan should be 
audited.
    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: Business or other for-profit organizations, and 
farms.
    Estimated Number of Respondents: 250,000.
    Estimated Time per Respondent: 27 hours, 5 minutes.
    Estimated Total Annual Burden Hours: 7,005,000.
    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: July 21, 2016.
Allan Hopkins,
Tax Analyst.
[FR Doc. 2016-17763 Filed 7-26-16; 8:45 am]
BILLING CODE 4830-01-P

Federal Register / Vol. 81, No. 144 / Wednesday, July 27, 2016 / Notices 49357

to provide a 60-day notice in the (b) The accuracy of the OCC’s OMB Number: 1545–0956.
Federal Register concerning each estimate of the information collection Form Number: 5500–EZ.
proposed collection of information, burden; Abstract: Form 5500–EZ is an annual
including each proposed extension of an (c) Ways to enhance the quality, return filed by a one-participant or one-
existing collection of information, utility, and clarity of the information to participant and spouse pension plan.
before submitting the collection to OMB be collected; The IRS uses this data to determine if
for approval. To comply with this (d) Ways to minimize the burden of
the plan appears to be operating
requirement, the OCC is publishing the collection on respondents, including
properly as required under the Internal
notice of the proposed collection of through the use of automated collection
Revenue Code or whether the plan
information set forth in this document. techniques or other forms of information
should be audited.
Title: Guidance on Sound Incentive technology; and
(e) Estimates of capital or startup costs Current Actions: There are no changes
Compensation Policies. being made to the form at this time.
and costs of operation, maintenance,
OMB Number: 1557–0245. and purchase of services to provide Type of Review: Extension of a
Abstract: Under the guidance, each information. currently approved collection.
national bank and Federal savings Affected Public: Business or other for-
association is required to: (i) Have Dated: July 21, 2016.
Karen Solomon, profit organizations, and farms.
policies and procedures that identify
Deputy Chief Counsel, Office of the Estimated Number of Respondents:
and describe the role(s) of the personnel
Comptroller of the Currency. 250,000.
and units authorized to be involved in
developing and administering incentive [FR Doc. 2016–17754 Filed 7–26–16; 8:45 am] Estimated Time per Respondent: 27
compensation arrangements, identify BILLING CODE 4810–33–P hours, 5 minutes.
the source of significant risk-related Estimated Total Annual Burden
factors, establish appropriate controls Hours: 7,005,000.
governing these factors to help ensure DEPARTMENT OF THE TREASURY The following paragraph applies to all
their reliability, and identify the of the collections of information covered
Internal Revenue Service
individual(s) and unit(s) whose by this notice:
approval is necessary for the Proposed Collection; Comment An agency may not conduct or
establishment or modification of Request for Form 5500–EZ sponsor, and a person is not required to
incentive compensation arrangements; respond to, a collection of information
(ii) create and maintain sufficient AGENCY: Internal Revenue Service (IRS), unless the collection of information
documentation to permit an audit of the Treasury. displays a valid OMB control number.
organization’s processes for developing ACTION: Notice and request for Books or records relating to a collection
and administering incentive comments. of information must be retained as long
compensation arrangements; (iii) have as their contents may become material
SUMMARY: The Department of the
any material exceptions or adjustments in the administration of any internal
Treasury, as part of its continuing effort
to the incentive compensation revenue law. Generally, tax returns and
to reduce paperwork and respondent
arrangements established for senior tax return information are confidential,
burden, invites the general public and
executives approved and documented as required by 26 U.S.C. 6103.
other Federal agencies to take this
by its board of directors; and (iv) have Request for Comments: Comments
opportunity to comment on proposed
its board of directors receive and submitted in response to this notice will
and/or continuing information
review, on an annual or more frequent be summarized and/or included in the
collections, as required by the
basis, an assessment by management of request for OMB approval. All
Paperwork Reduction Act of 1995,
the effectiveness of the design and comments will become a matter of
Public Law 104–13 (44 U.S.C.
operation of the organization’s incentive public record. Comments are invited on:
3506(c)(2)(A)). Currently, the IRS is
compensation system in providing risk- (a) Whether the collection of
soliciting comments concerning Form
taking incentives that are consistent information is necessary for the proper
5500–EZ, Annual Return of One-
with the organization’s safety and performance of the functions of the
Participant (Owners and Their Spouses)
soundness. agency, including whether the
Retirement Plan.
Type of Review: Regular. information shall have practical utility;
DATES: Written comments should be
Affected Public: Businesses or other received on or before September 26, (b) the accuracy of the agency’s estimate
for-profit. 2016 to be assured of consideration. of the burden of the collection of
Estimated Number of Respondents: 41 information; (c) ways to enhance the
ADDRESSES: Direct all written comments
large banks; 1,381 small banks. quality, utility, and clarity of the
to Tuawana Pinkston, Internal Revenue
Estimated Burden per Respondent: information to be collected; (d) ways to
Service, Room 6526, 1111 Constitution
520 hours for large banks; 52 hours for minimize the burden of the collection of
Avenue NW., Washington, DC 20224.
small banks. information on respondents, including
FOR FURTHER INFORMATION CONTACT: through the use of automated collection
Frequency of Response: Annually. Requests for additional information or techniques or other forms of information
Total Annual Burden: 93,132 hours. copies of the form and instructions technology; and (e) estimates of capital
All comments will be considered in should be directed to Allan Hopkins, at or start-up costs and costs of operation,
formulating the subsequent submission Internal Revenue Service, Room 6129,
sradovich on DSK3GMQ082PROD with NOTICES

maintenance, and purchase of services
and become a matter of public record. 1111 Constitution Avenue NW., to provide information.
Comments are invited on: Washington, DC 20224, or through the
(a) Whether the collection of Internet at Allan.M.Hopkins@irs.gov. Approved: July 21, 2016.
information is necessary for the proper SUPPLEMENTARY INFORMATION:
Allan Hopkins,
performance of the functions of the Title: Annual Return of One- Tax Analyst.
OCC, including whether the information Participant (Owners and Their Spouses) [FR Doc. 2016–17763 Filed 7–26–16; 8:45 am]
has practical utility; Retirement Plan. BILLING CODE 4830–01–P

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Document Created: 2018-02-08 08:02:30
Document Modified: 2018-02-08 08:02:30

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 and request for comments.
Dates		Written comments should be received on or before September 26, 2016 to be assured of consideration.
Contact		Requests for additional information or copies of the form and instructions should be directed to Allan Hopkins, at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the Internet at [email protected]
FR Citation		81 FR 49357

81 FR 49357 - Proposed Collection; Comment Request for Form 5500-EZ

DEPARTMENT OF THE TREASURYInternal Revenue Service

Federal Register Volume 81, Issue 144 (July 27, 2016)

DEPARTMENT OF THE TREASURY
Internal Revenue Service