83 FR 42172 - Proposed Submission of Information Collection for OMB Review; Comment Request; Annual Reporting (Form 5500 Series)

PENSION BENEFIT GUARANTY CORPORATION

Federal Register Volume 83, Issue 161 (August 20, 2018)

Page Range		42172-42173
FR Document		2018-17850

The Pension Benefit Guaranty Corporation (PBGC) intends to request that the Office of Management and Budget (OMB) extend approval (with modifications), under the Paperwork Reduction Act of 1995, of its collection of information for Annual Reporting under OMB control number 1212-0057, which expires on March 31, 2021. This notice informs the public of PBGC's intent and solicits public comment on the collection of information.

Federal Register, Volume 83 Issue 161 (Monday, August 20, 2018)

[Federal Register Volume 83, Number 161 (Monday, August 20, 2018)]
[Notices]
[Pages 42172-42173]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-17850]


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PENSION BENEFIT GUARANTY CORPORATION


Proposed Submission of Information Collection for OMB Review; 
Comment Request; Annual Reporting (Form 5500 Series)

AGENCY: Pension Benefit Guaranty Corporation.

ACTION: Notice of intent to request extension of OMB approval, with 
modifications.

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SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) intends to 
request that the Office of Management and Budget (OMB) extend approval 
(with modifications), under the Paperwork Reduction Act of 1995, of its 
collection of information for Annual Reporting under OMB control number 
1212-0057, which expires on March 31, 2021. This notice informs the 
public of PBGC's intent and solicits public comment on the collection 
of information.

DATES: Comments must be submitted by October 19, 2018.

ADDRESSES: Comments may be submitted by any of the following methods:
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the online instructions for submitting comments.
     Email: [email protected]. Refer to Annual 
Reporting (Form 5500 Series) in the subject line.
     Mail or Hand Delivery: Regulatory Affairs Division, Office 
of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K 
Street NW, Washington, DC 20005-4026.
    All submissions received must include the agency's name (Pension 
Benefit Guaranty Corporation, or PBGC) and refer to the Annual 
Reporting (Form 5500 Series). All comments received will be posted 
without change to PBGC's website, www.pbgc.gov, including any personal 
information provided. Copies of the collection of information may be 
obtained by writing to Disclosure Division, Office of the General 
Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW, 
Washington, DC 20005-4026, or calling 202-326-4040 during normal 
business hours. TTY users may call the Federal relay service toll-free 
at 800-877-8339 and ask to be connected to 202-326-4040.

FOR FURTHER INFORMATION CONTACT: Karen Levin ([email protected]), 
Attorney, Regulatory Affairs Division, Office of the General Counsel, 
Pension Benefit Guaranty Corporation, 1200 K Street NW, Washington, DC 
20005-4026, 202-326-4400, extension 3559. TTY users may call the 
Federal relay service toll-free at 800-877-8339 and ask to be connected 
to 202-326-4400, extension 3559.

SUPPLEMENTARY INFORMATION: Annual reporting to the Internal Revenue 
Service (IRS), the Employee Benefits Security Administration (EBSA), 
and the Pension Benefit Guaranty Corporation (PBGC) is required by law 
for most employee benefit plans. For example, section 4065 of the 
Employee Retirement Income Security Act of 1974 requires annual 
reporting to PBGC for pension plans covered by title IV of ERISA. To 
accommodate these filing requirements, PBGC, IRS, and EBSA have jointly 
promulgated the Form 5500 Series, which includes the Form 5500 Annual 
Return/Report of Employee Benefit Plan and the Form 5500-SF Short Form 
Annual Return/Report of Small Employee Benefit Plan.
    The collection of information has been approved by OMB under 
control number 1212-0057 through March 31, 2021. PBGC intends to 
request that OMB extend its approval, with modifications, for three 
years. An agency may not conduct or sponsor, and a person is not 
required to respond to, a collection of information unless it displays 
a currently valid OMB control number.
    PBGC is proposing modifications to the 2019 Schedule R (Retirement 
Plan Information), Form 5500-SF, and Schedule SB (Single-Employer 
Defined Benefit Plan Actuarial Information), and their related 
instructions. These proposed modifications affect some, but not all, 
single-employer defined benefit plans covered by Title IV of ERISA. 
PBGC also is proposing minor modifications to the Form 5500 Series to 
improve the accuracy of reported information.
    PBGC is proposing to modify Schedule R to obtain information from 
single-employer plans related to unpaid minimum required contributions. 
Single-employer plans are required to report the amount of unpaid 
minimum required contributions on Schedule SB and, in most cases, 
report additional information about the unpaid (``missed'') 
contributions to PBGC on the applicable PBGC form (i.e., Form 10 or 
Form 200). In some cases, this PBGC reporting requirement is waived 
(e.g., if the contribution is made within 30 days of the due date). 
PBGC has found a significant number of plans that are required to file 
these PBGC form(s) do not. As part of its enforcement effort, PBGC 
regularly contacts plans that report unpaid contributions on Schedule 
SB if the applicable PBGC form is not received. With limited exception, 
PBGC cannot distinguish between plans that were required to report 
missed contributions and those that qualified for a regulatory waiver, 
and as a result, PBGC ends up contacting many plans for which reporting 
was waived. PBGC is proposing to modify Schedule R by requiring PBGC-
insured single-employer plans that report unpaid minimum required 
contributions on Schedule SB to check a box indicating whether PBGC 
reporting of the missed contributions was waived or required (and if 
required, whether such reporting requirement has been satisfied). PBGC 
is proposing this addition of information to enable PBGC to limit its 
contact to plans that were required, but failed to, report information 
about unpaid contributions to PBGC.
    Because many small PBGC-insured plans are not required to complete 
Schedule R (i.e., plans that file Form 5500-SF), PBGC also is proposing 
to add a similar question about missed contributions to Form 5500-SF.
    With regard to the Schedule SB form and instructions, PBGC is 
proposing to modify line 23 to eliminate three boxes representing 
mortality tables that are no longer applicable.
    PBGC estimates that it will receive approximately 23,900 Form 5500 
and

[[Page 42173]]

Form 5500-SF filings per year under this collection of information. 
PBGC further estimates that the total annual burden of this collection 
of information attributable to PBGC will be 1,200 hours and $1,531,000.
    PBGC is soliciting public comments to--
     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 methodologies 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.

    Issued in Washington, DC, by
Hilary Duke,
Assistant General Counsel for Regulatory Affairs, Pension Benefit 
Guaranty Corporation.
[FR Doc. 2018-17850 Filed 8-17-18; 8:45 am]
 BILLING CODE 7709-02-P

42172 Federal Register / Vol. 83, No. 161 / Monday, August 20, 2018 / Notices

about how to join the webcast will be • Email: paperwork.comments@ PBGC is proposing modifications to
available the week of the event at: pbgc.gov. Refer to Annual Reporting the 2019 Schedule R (Retirement Plan
https://www.nitrd.gov/nitrdgroups/ (Form 5500 Series) in the subject line. Information), Form 5500–SF, and
index.php?title=WSRD-Workshop-X. • Mail or Hand Delivery: Regulatory Schedule SB (Single-Employer Defined
Workshop Goals: WSRD members will Affairs Division, Office of the General Benefit Plan Actuarial Information), and
use information gathered from this Counsel, Pension Benefit Guaranty their related instructions. These
workshop to develop recommendations Corporation, 1200 K Street NW, proposed modifications affect some, but
on the government role in these Washington, DC 20005–4026. not all, single-employer defined benefit
technologies, as well as for their agency- All submissions received must plans covered by Title IV of ERISA.
specific research agendas. include the agency’s name (Pension PBGC also is proposing minor
Workshop Objectives: 1. Identify Benefit Guaranty Corporation, or PBGC) modifications to the Form 5500 Series to
wireless security scenarios and issues in and refer to the Annual Reporting (Form improve the accuracy of reported
the context of increasingly congested 5500 Series). All comments received information.
and contested spectrum, and the PBGC is proposing to modify
will be posted without change to
emerging spectrum sharing and trading Schedule R to obtain information from
PBGC’s website, www.pbgc.gov,
frameworks. 2. Discuss the ongoing single-employer plans related to unpaid
including any personal information minimum required contributions.
technology innovations and the related provided. Copies of the collection of
short- and long-term regulatory Single-employer plans are required to
information may be obtained by writing report the amount of unpaid minimum
frameworks. 3. Identify innovative tools, to Disclosure Division, Office of the
techniques, and experimentation for required contributions on Schedule SB
General Counsel, Pension Benefit and, in most cases, report additional
future research. Guaranty Corporation, 1200 K Street
Submitted by the National Science information about the unpaid
NW, Washington, DC 20005–4026, or (‘‘missed’’) contributions to PBGC on
Foundation in support of the calling 202–326–4040 during normal
Networking and Information the applicable PBGC form (i.e., Form 10
business hours. TTY users may call the or Form 200). In some cases, this PBGC
Technology Research and Development Federal relay service toll-free at 800–
(NITRD) National Coordination Office reporting requirement is waived (e.g., if
877–8339 and ask to be connected to the contribution is made within 30 days
(NCO) on August 14, 2018. 202–326–4040. of the due date). PBGC has found a
Suzanne H. Plimpton, FOR FURTHER INFORMATION CONTACT: significant number of plans that are
Reports Clearance Officer, National Science Karen Levin (levin.karen@pbgc.gov), required to file these PBGC form(s) do
Foundation. Attorney, Regulatory Affairs Division, not. As part of its enforcement effort,
[FR Doc. 2018–17845 Filed 8–17–18; 8:45 am] Office of the General Counsel, Pension PBGC regularly contacts plans that
BILLING CODE 7555–01–P Benefit Guaranty Corporation, 1200 K report unpaid contributions on
Street NW, Washington, DC 20005– Schedule SB if the applicable PBGC
4026, 202–326–4400, extension 3559. form is not received. With limited
PENSION BENEFIT GUARANTY TTY users may call the Federal relay exception, PBGC cannot distinguish
CORPORATION service toll-free at 800–877–8339 and between plans that were required to
ask to be connected to 202–326–4400, report missed contributions and those
Proposed Submission of Information extension 3559. that qualified for a regulatory waiver,
Collection for OMB Review; Comment and as a result, PBGC ends up
Request; Annual Reporting (Form 5500 SUPPLEMENTARY INFORMATION: Annual
contacting many plans for which
Series) reporting to the Internal Revenue
reporting was waived. PBGC is
Service (IRS), the Employee Benefits
proposing to modify Schedule R by
AGENCY: Pension Benefit Guaranty Security Administration (EBSA), and
requiring PBGC-insured single-employer
Corporation. the Pension Benefit Guaranty plans that report unpaid minimum
ACTION: Notice of intent to request Corporation (PBGC) is required by law required contributions on Schedule SB
extension of OMB approval, with for most employee benefit plans. For to check a box indicating whether PBGC
modifications. example, section 4065 of the Employee reporting of the missed contributions
Retirement Income Security Act of 1974 was waived or required (and if required,
SUMMARY: The Pension Benefit Guaranty requires annual reporting to PBGC for whether such reporting requirement has
Corporation (PBGC) intends to request pension plans covered by title IV of been satisfied). PBGC is proposing this
that the Office of Management and ERISA. To accommodate these filing addition of information to enable PBGC
Budget (OMB) extend approval (with requirements, PBGC, IRS, and EBSA to limit its contact to plans that were
modifications), under the Paperwork have jointly promulgated the Form 5500 required, but failed to, report
Reduction Act of 1995, of its collection Series, which includes the Form 5500 information about unpaid contributions
of information for Annual Reporting Annual Return/Report of Employee to PBGC.
under OMB control number 1212–0057, Benefit Plan and the Form 5500–SF Because many small PBGC-insured
which expires on March 31, 2021. This Short Form Annual Return/Report of plans are not required to complete
notice informs the public of PBGC’s Small Employee Benefit Plan. Schedule R (i.e., plans that file Form
intent and solicits public comment on The collection of information has 5500–SF), PBGC also is proposing to
the collection of information. been approved by OMB under control add a similar question about missed
DATES: Comments must be submitted by number 1212–0057 through March 31, contributions to Form 5500–SF.
daltland on DSKBBV9HB2PROD with NOTICES

October 19, 2018. 2021. PBGC intends to request that OMB With regard to the Schedule SB form
ADDRESSES: Comments may be extend its approval, with modifications, and instructions, PBGC is proposing to
submitted by any of the following for three years. An agency may not modify line 23 to eliminate three boxes
methods: conduct or sponsor, and a person is not representing mortality tables that are no
• Federal eRulemaking Portal: http:// required to respond to, a collection of longer applicable.
www.regulations.gov. Follow the online information unless it displays a PBGC estimates that it will receive
instructions for submitting comments. currently valid OMB control number. approximately 23,900 Form 5500 and

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Federal Register / Vol. 83, No. 161 / Monday, August 20, 2018 / Notices 42173

Form 5500–SF filings per year under FOR FURTHER INFORMATION CONTACT: Service of Filing Modification Two to a
this collection of information. PBGC David A. Trissell, General Counsel, at Global Plus 1D Negotiated Service
further estimates that the total annual 202–789–6820. Agreement; Filing Acceptance Date:
burden of this collection of information SUPPLEMENTARY INFORMATION: August 14, 2018; Filing Authority: 39
attributable to PBGC will be 1,200 hours CFR 3015.5; Public Representative:
and $1,531,000. Table of Contents Christopher C. Mohr; Comments Due:
PBGC is soliciting public comments I. Introduction August 22, 2018.
to— II. Docketed Proceeding(s) 2. Docket No(s).: CP2017–239; Filing
• Evaluate whether the proposed I. Introduction
Title: Notice of the United States Postal
collection of information is necessary Service of Filing Modification Two to a
for the proper performance of the The Commission gives notice that the Global Plus 1D Negotiated Service
functions of the agency, including Postal Service filed request(s) for the Agreement; Filing Acceptance Date:
whether the information will have Commission to consider matters related August 14, 2018; Filing Authority: 39
practical utility; to negotiated service agreement(s). The CFR 3015.5; Public Representative:
• evaluate the accuracy of the request(s) may propose the addition or Christopher C. Mohr; Comments Due:
agency’s estimate of the burden of the removal of a negotiated service August 22, 2018.
proposed collection of information, agreement from the market dominant or 3. Docket No(s).: MC2018–206 and
including the validity of the the competitive product list, or the CP2018–288; Filing Title: USPS Request
methodologies and assumptions used; modification of an existing product to Add Priority Mail Contract 462 to
• enhance the quality, utility, and currently appearing on the market Competitive Product List and Notice of
dominant or the competitive product Filing Materials Under Seal; Filing
clarity of the information to be
list. Acceptance Date: August 14, 2018;
collected; and
Section II identifies the docket Filing Authority: 39 U.S.C. 3642, 39 CFR
• minimize the burden of the number(s) associated with each Postal
collection of information on those who 3020.30 et seq., and 39 CFR 3015.5;
Service request, the title of each Postal Public Representative: Curtis E. Kidd;
are to respond, including through the Service request, the request’s acceptance
use of appropriate automated, Comments Due: August 22, 2018.
date, and the authority cited by the This Notice will be published in the
electronic, mechanical, or other Postal Service for each request. For each Federal Register.
technological collection techniques or request, the Commission appoints an
other forms of information technology, officer of the Commission to represent Stacy L. Ruble,
e.g., permitting electronic submission of the interests of the general public in the Secretary.
responses. proceeding, pursuant to 39 U.S.C. 505 [FR Doc. 2018–17863 Filed 8–17–18; 8:45 am]
Issued in Washington, DC, by (Public Representative). Section II also BILLING CODE 7710–FW–P
Hilary Duke, establishes comment deadline(s)
Assistant General Counsel for Regulatory pertaining to each request.
Affairs, Pension Benefit Guaranty The public portions of the Postal POSTAL REGULATORY COMMISSION
Corporation. Service’s request(s) can be accessed via [Docket No. CP2018–286; Order No. 4758]
[FR Doc. 2018–17850 Filed 8–17–18; 8:45 am] the Commission’s website (http://
BILLING CODE 7709–02–P www.prc.gov). Non-public portions of Inbound Parcel Post (at UPU Rates)
the Postal Service’s request(s), if any,
can be accessed through compliance AGENCY: Postal Regulatory Commission.
with the requirements of 39 CFR ACTION: Notice.
POSTAL REGULATORY COMMISSION 3007.301.1 SUMMARY: The Commission is
[Docket Nos. CP2017–233; CP2017–239; The Commission invites comments on
acknowledging a recent filing by the
MC2018–206 and CP2018–288] whether the Postal Service’s request(s)
Postal Service of its intention to change
in the captioned docket(s) are consistent
prices not of general applicability to be
New Postal Products with the policies of title 39. For
effective January 1, 2019. This
request(s) that the Postal Service states
AGENCY: Postal Regulatory Commission. document informs the public of the
concern market dominant product(s),
ACTION: Notice. filing, invites public comment, and
applicable statutory and regulatory takes other administrative steps.
requirements include 39 U.S.C. 3622, 39
SUMMARY: The Commission is noticing a U.S.C. 3642, 39 CFR part 3010, and 39 DATES: Comments are due: August 21,
recent Postal Service filing for the CFR part 3020, subpart B. For request(s) 2018.
Commission’s consideration concerning that the Postal Service states concern ADDRESSES: Submit comments
negotiated service agreements. This competitive product(s), applicable electronically via the Commission’s
notice informs the public of the filing, statutory and regulatory requirements Filing Online system at http://
invites public comment, and takes other include 39 U.S.C. 3632, 39 U.S.C. 3633, www.prc.gov. Those who cannot submit
administrative steps. 39 U.S.C. 3642, 39 CFR part 3015, and comments electronically should contact
DATES: Comments are due: August 22, 39 CFR part 3020, subpart B. Comment the person identified in the FOR FURTHER
2018. deadline(s) for each request appear in INFORMATION CONTACT section by
ADDRESSES: Submit comments section II. telephone for advice on filing
electronically via the Commission’s alternatives.
II. Docketed Proceeding(s)
daltland on DSKBBV9HB2PROD with NOTICES

Filing Online system at http:// FOR FURTHER INFORMATION CONTACT:
www.prc.gov. Those who cannot submit 1. Docket No(s).: CP2017–233; Filing David A. Trissell, General Counsel, at
comments electronically should contact Title: Notice of the United States Postal 202–789–6820.
the person identified in the FOR FURTHER 1 See Docket No. RM2018–3, Order Adopting
SUPPLEMENTARY INFORMATION:
INFORMATION CONTACT section by
Final Rules Relating to Non-Public Information, Table of Contents
telephone for advice on filing June 27, 2018, Attachment A at 19–22 (Order No.
alternatives. 4679). I. Introduction

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Document Created: 2018-08-18 01:28:04
Document Modified: 2018-08-18 01:28:04

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 of intent to request extension of OMB approval, with modifications.
Dates		Comments must be submitted by October 19, 2018.
Contact		Karen Levin ([email protected]), Attorney, Regulatory Affairs Division, Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street NW, Washington, DC 20005-4026, 202-326-4400, extension 3559. TTY users may call the Federal relay service toll-free at 800-877-8339 and ask to be connected to 202-326-4400, extension 3559.
FR Citation		83 FR 42172