82 FR 10407 - Agency Information Collection Activities; Submission for OMB Review; Comment Request; Prohibited Transaction Class Exemption 1985-68 To Permit Employee Benefit Plans To Invest in Customer Notes of Employers
DEPARTMENT OF LABOR
Office of the Secretary Federal Register Volume 82, Issue 27 (February 10, 2017)
Office of the Secretary
Federal Register Volume 82, Issue 27 (February 10, 2017)
| Page Range | 10407-10408 | |
| FR Document | 2017-02814 |
[Federal Register Volume 82, Number 27 (Friday, February 10, 2017)] [Notices] [Pages 10407-10408] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-02814] ----------------------------------------------------------------------- DEPARTMENT OF LABOR Office of the Secretary Agency Information Collection Activities; Submission for OMB Review; Comment Request; Prohibited Transaction Class Exemption 1985-68 To Permit Employee Benefit Plans To Invest in Customer Notes of Employers ACTION: Notice. ----------------------------------------------------------------------- SUMMARY: The Department of Labor (DOL) is submitting the Employee Benefits Security Administration (EBSA) sponsored information collection request (ICR) titled, ``Prohibited Transaction Class Exemption 1985-68 to Permit Employee Benefit Plans to Invest in Customer Notes of Employers,'' 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). Public comments on the ICR are invited. DATES: The OMB will consider all written comments that agency receives on or before March 13, 2017. 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=201701-1210-004 (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, [[Page 10408]] 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 maintain PRA authority for information collection activities related to Prohibited Transaction Class Exemption (PTE) 1985-68, which permits an employee benefit plan to invest in an employer's customer notes under circumstances the Employee Retirement Income Security Act of 1974 (ERISA) and Internal Revenue Code of 1986 would otherwise prohibit. More specifically, this PTE describes the conditions under which a plan may acquire customer notes accepted by an employer of employees covered by the plan in the ordinary course of the employer's business activity and, thus, be exempt from the prohibited transaction restrictions; provided, the exemption conditions are met. The PTE covers sales as well as contributions of customer notes by an employer to its plan. The customer notes must have been accepted by the employer in its primary business activity as the seller of tangible personal property that is being financed by the notes, so that the exemption does not apply to notes of an employer's affiliate. The PTE requires a plan to maintain all necessary records pertaining to the affected transactions for a period of six years and to make those records available to certain designed persons upon request. ERISA section 408(a) authorizes this information collection. See 29 U.S.C. 1108(a). 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 1210-0094. 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 February 28, 2017. 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 October 28, 2016 (81 FR 75157). 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 1210-0094. 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 technological collection techniques or other forms of information technology, e.g., permitting electronic submission of responses. Agency: DOL-EBSA. Title of Collection: Prohibited Transaction Class Exemption 1985-68 to Permit Employee Benefit Plans to Invest in Customer Notes of Employers. OMB Control Number: 1210-0094. Affected Public: Private Sector--businesses or other for-profits, not-for-profit institutions. Total Estimated Number of Respondents: 69. Total Estimated Number of Responses: 325. Total Estimated Annual Time Burden: 1 hour. Total Estimated Annual Other Costs Burden: $0. Dated: February 6, 2017. Michel Smyth, Departmental Clearance Officer. [FR Doc. 2017-02814 Filed 2-9-17; 8:45 am] BILLING CODE 4510-29-P
![Federal Register / Vol. 82, No. 27 / Friday, February 10, 2017 / Notices 10407
or by contacting Michel Smyth by information collection, unless it is Affected Public: Private Sector—
telephone at 202–693–4129, TTY 202– approved by the OMB under the PRA businesses or other for-profits.
693–8064, (these are not toll-free and displays a currently valid OMB Total Estimated Number of
numbers) or by email at DOL_PRA_ Control Number. In addition, Respondents: 27.
PUBLIC@dol.gov. notwithstanding any other provisions of Total Estimated Number of
Submit comments about this request law, no person shall generally be subject Responses: 80.
by mail or courier to the Office of to penalty for failing to comply with a Total Estimated Annual Time Burden:
Information and Regulatory Affairs, collection of information that does not 1,600 hours.
Attn: OMB Desk Officer for DOL– display a valid Control Number. See 5 Total Estimated Annual Other Costs
MSHA, Office of Management and CFR 1320.5(a) and 1320.6. The DOL Burden: $60.
Budget, Room 10235, 725 17th Street obtains OMB approval for this Dated: February 6, 2017.
NW., Washington, DC 20503; by Fax: information collection under Control Michel Smyth,
202–395–5806 (this is not a toll-free Number 1219–0019. Departmental Clearance Officer.
number); or by email: OIRA_ OMB authorization for an ICR cannot [FR Doc. 2017–02817 Filed 2–9–17; 8:45 am]
submission@omb.eop.gov. Commenters be for more than three (3) years without BILLING CODE 4510–43–P
are encouraged, but not required, to renewal, and the current approval for
send a courtesy copy of any comments this collection is scheduled to expire on
by mail or courier to the U.S. March 31, 2017. The DOL seeks to DEPARTMENT OF LABOR
Department of Labor—OASAM, Office extend PRA authorization for this
of the Chief Information Officer, Attn: information collection for three (3) more Office of the Secretary
Departmental Information Compliance years, without any change to existing
Management Program, Room N1301, requirements. The DOL notes that Agency Information Collection
200 Constitution Avenue NW., existing information collection Activities; Submission for OMB
Washington, DC 20210; or by email: requirements submitted to the OMB Review; Comment Request; Prohibited
DOL_PRA_PUBLIC@dol.gov. receive a month-to-month extension Transaction Class Exemption 1985–68
FOR FURTHER INFORMATION CONTACT: while they undergo review. For To Permit Employee Benefit Plans To
Michel Smyth by telephone at 202–693– additional substantive information Invest in Customer Notes of Employers
4129, TTY 202–693–8064, (these are not about this ICR, see the related notice ACTION: Notice.
toll-free numbers) or by email at DOL_ published in the Federal Register on
PRA_PUBLIC@dol.gov. October 3, 2016 (81 FR 68064). SUMMARY: The Department of Labor
Authority: 44 U.S.C. 3507(a)(1)(D). Interested parties are encouraged to (DOL) is submitting the Employee
SUPPLEMENTARY INFORMATION: This ICR send comments to the OMB, Office of Benefits Security Administration
seeks to extend PRA authority for the Information and Regulatory Affairs at (EBSA) sponsored information
Slope and Shaft Sinking Plans the address shown in the ADDRESSES collection request (ICR) titled,
information collection requirements section within thirty (30) days of ‘‘Prohibited Transaction Class
contained in regulations 30 CFR 77.1900 publication of this notice in the Federal Exemption 1985–68 to Permit Employee
that requires an underground coal mine Register. In order to help ensure Benefit Plans to Invest in Customer
operator to submit for approval a plan appropriate consideration, comments Notes of Employers,’’ to the Office of
that will provide for the safety of should mention OMB Control Number Management and Budget (OMB) for
workers in each slope or shaft that is 1219–0019. The OMB is particularly review and approval for continued use,
commenced or extended from the interested in comments that: without change, in accordance with the
surface to the underground coal mine. • Evaluate whether the proposed Paperwork Reduction Act of 1995
Each plan includes the name and collection of information is necessary (PRA). Public comments on the ICR are
location of the mine; name and address for the proper performance of the invited.
of the mine operator; a description of functions of the agency, including DATES: The OMB will consider all
the construction work, methods to be whether the information will have written comments that agency receives
used in construction of the slope or practical utility; on or before March 13, 2017.
shaft, and whether all or part of the • Evaluate the accuracy of the ADDRESSES: A copy of this ICR with
work will be performed by a contractor; agency’s estimate of the burden of the applicable supporting documentation;
the elevation, depth, and dimensions of proposed collection of information, including a description of the likely
the slope or shaft; the location and including the validity of the respondents, proposed frequency of
elevation of the coalbed; the general methodology and assumptions used; response, and estimated total burden
characteristics of the strata through • Enhance the quality, utility, and may be obtained free of charge from the
which the slope or shaft will be clarity of the information to be RegInfo.gov Web site at http://
developed; the type of equipment which collected; and www.reginfo.gov/public/do/
the operator proposes to use; the system • Minimize the burden of the PRAViewICR?ref_nbr=201701-1210-004
of ventilation to be used; and safeguards collection of information on those who (this link will only become active on the
for the prevention of caving during are to respond, including through the day following publication of this notice)
excavation. Federal Mine Safety and use of appropriate automated, or by contacting Michel Smyth by
Health Act of 1977 sections 101(a) and electronic, mechanical, or other telephone at 202–693–4129, TTY 202–
103(h) authorize this information technological collection techniques or 693–8064, (these are not toll-free
mstockstill on DSK3G9T082PROD with NOTICES
collection. See 30 U.S.C. 811 and other forms of information technology, numbers) or by email at DOL_PRA_
813(h). e.g., permitting electronic submission of PUBLIC@dol.gov.
This information collection is subject responses. Submit comments about this request
to the PRA. A Federal agency generally Agency: DOL–MSHA. by mail or courier to the Office of
cannot conduct or sponsor a collection Title of Collection: Slope and Shaft Information and Regulatory Affairs,
of information, and the public is Sinking Plans. Attn: OMB Desk Officer for DOL–EBSA,
generally not required to respond to an OMB Control Number: 1219–0019. Office of Management and Budget,
VerDate Sep<11>2014 18:35 Feb 09, 2017 Jkt 241001 PO 00000 Frm 00080 Fmt 4703 Sfmt 4703 E:\FR\FM\10FEN1.SGM 10FEN1](https://thefederalregister.org/doc/82_FR_10434/page/1.svg)
![10408 Federal Register / Vol. 82, No. 27 / Friday, February 10, 2017 / Notices
Room 10235, 725 17th Street NW., law, no person shall generally be subject Total Estimated Number of
Washington, DC 20503; by Fax: 202– to penalty for failing to comply with a Respondents: 69.
395–5806 (this is not a toll-free collection of information that does not Total Estimated Number of
number); or by email: OIRA_ display a valid Control Number. See 5 Responses: 325.
submission@omb.eop.gov. Commenters CFR 1320.5(a) and 1320.6. The DOL Total Estimated Annual Time Burden:
are encouraged, but not required, to obtains OMB approval for this 1 hour.
send a courtesy copy of any comments information collection under Control Total Estimated Annual Other Costs
by mail or courier to the U.S. Number 1210–0094. Burden: $0.
Department of Labor—OASAM, Office OMB authorization for an ICR cannot Dated: February 6, 2017.
of the Chief Information Officer, Attn: be for more than three (3) years without Michel Smyth,
Departmental Information Compliance renewal, and the current approval for Departmental Clearance Officer.
Management Program, Room N1301, this collection is scheduled to expire on [FR Doc. 2017–02814 Filed 2–9–17; 8:45 am]
200 Constitution Avenue NW., February 28, 2017. The DOL seeks to BILLING CODE 4510–29–P
Washington, DC 20210; or by email: extend PRA authorization for this
DOL_PRA_PUBLIC@dol.gov. information collection for three (3) more
FOR FURTHER INFORMATION CONTACT: years, without any change to existing DEPARTMENT OF LABOR
Michel Smyth by telephone at 202–693– requirements. The DOL notes that
4129, TTY 202–693–8064, (these are not existing information collection Office of the Secretary
toll-free numbers) or by email at DOL_ requirements submitted to the OMB
PRA_PUBLIC@dol.gov. receive a month-to-month extension Agency Information Collection
while they undergo review. For Activities; Submission for OMB
Authority: 44 U.S.C. 3507(a)(1)(D).
additional substantive information Review; Comment Request; National
SUPPLEMENTARY INFORMATION: This ICR Longitudinal Survey of Youth 1997
seeks to maintain PRA authority for about this ICR, see the related notice
information collection activities related published in the Federal Register on ACTION: Notice.
to Prohibited Transaction Class October 28, 2016 (81 FR 75157).
Exemption (PTE) 1985–68, which Interested parties are encouraged to SUMMARY: The Department of Labor
permits an employee benefit plan to send comments to the OMB, Office of (DOL) is submitting the Bureau of Labor
invest in an employer’s customer notes Information and Regulatory Affairs at Statistics (BLS) sponsored information
under circumstances the Employee the address shown in the ADDRESSES collection request (ICR) revision titled,
Retirement Income Security Act of 1974 section within thirty (30) days of ‘‘National Longitudinal Survey of Youth
(ERISA) and Internal Revenue Code of publication of this notice in the Federal 1997,’’ to the Office of Management and
1986 would otherwise prohibit. More Register. In order to help ensure Budget (OMB) for review and approval
specifically, this PTE describes the appropriate consideration, comments for use in accordance with the
conditions under which a plan may should mention OMB Control Number Paperwork Reduction Act (PRA) of 1995
acquire customer notes accepted by an 1210–0094. The OMB is particularly (44 U.S.C. 3501 et seq.). Public
employer of employees covered by the interested in comments that: comments on the ICR are invited.
plan in the ordinary course of the • Evaluate whether the proposed DATES: The OMB will consider all
employer’s business activity and, thus, collection of information is necessary written comments that agency receives
be exempt from the prohibited for the proper performance of the on or before March 13, 2017.
transaction restrictions; provided, the functions of the agency, including ADDRESSES: A copy of this ICR with
exemption conditions are met. The PTE whether the information will have applicable supporting documentation;
covers sales as well as contributions of practical utility; including a description of the likely
customer notes by an employer to its • Evaluate the accuracy of the respondents, proposed frequency of
plan. The customer notes must have agency’s estimate of the burden of the response, and estimated total burden
been accepted by the employer in its proposed collection of information, may be obtained free of charge from the
primary business activity as the seller of including the validity of the RegInfo.gov Web site at http://
tangible personal property that is being methodology and assumptions used; www.reginfo.gov/public/do/
financed by the notes, so that the • Enhance the quality, utility, and PRAViewICR?ref_nbr=201610-1220-001
exemption does not apply to notes of an clarity of the information to be (this link will only become active on the
employer’s affiliate. The PTE requires a collected; and day following publication of this notice)
plan to maintain all necessary records • Minimize the burden of the or by contacting Michel Smyth by
pertaining to the affected transactions collection of information on those who telephone at 202–693–4129, TTY 202–
for a period of six years and to make are to respond, including through the 693–8064, (these are not toll-free
those records available to certain use of appropriate automated, numbers) or sending an email to DOL_
designed persons upon request. ERISA electronic, mechanical, or other PRA_PUBLIC@dol.gov.
section 408(a) authorizes this technological collection techniques or Submit comments about this request
information collection. See 29 U.S.C. other forms of information technology, by mail or courier to the Office of
1108(a). e.g., permitting electronic submission of Information and Regulatory Affairs,
This information collection is subject responses. Attn: OMB Desk Officer for DOL–BLS,
to the PRA. A Federal agency generally Agency: DOL–EBSA. Office of Management and Budget,
cannot conduct or sponsor a collection Title of Collection: Prohibited Room 10235, 725 17th Street NW.,
mstockstill on DSK3G9T082PROD with NOTICES
of information, and the public is Transaction Class Exemption 1985–68 Washington, DC 20503; by Fax: 202–
generally not required to respond to an to Permit Employee Benefit Plans to 395–5806 (this is not a toll-free
information collection, unless it is Invest in Customer Notes of Employers. number); or by email: OIRA_
approved by the OMB under the PRA OMB Control Number: 1210–0094. submission@omb.eop.gov. Commenters
and displays a currently valid OMB Affected Public: Private Sector— are encouraged, but not required, to
Control Number. In addition, businesses or other for-profits, not-for- send a courtesy copy of any comments
notwithstanding any other provisions of profit institutions. by mail or courier to the U.S.
VerDate Sep<11>2014 18:35 Feb 09, 2017 Jkt 241001 PO 00000 Frm 00081 Fmt 4703 Sfmt 4703 E:\FR\FM\10FEN1.SGM 10FEN1](https://thefederalregister.org/doc/82_FR_10434/page/2.svg)
Document Created: 2017-02-11 18:14:59
Document Modified: 2017-02-11 18:14:59
| 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 March 13, 2017. | |
| 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 | 82 FR 10407 |
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