83 FR 50756 - Proposed Collection; Comment Request on Information Collection for Treasury Decision 9142 (Final)

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 83, Issue 195 (October 9, 2018)

The Internal Revenue Service, 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. Currently, the IRS is soliciting comments concerning Treasury Decision 9142 (Final), Deemed IRAs In Qualified Retirement Plans.

[Federal Register Volume 83, Number 195 (Tuesday, October 9, 2018)]
[Notices]
[Page 50756]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-21769]


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

DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request on Information Collection 
for Treasury Decision 9142 (Final)

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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

SUMMARY: The Internal Revenue Service, 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. Currently, the IRS is soliciting 
comments concerning Treasury Decision 9142 (Final), Deemed IRAs In 
Qualified Retirement Plans.

DATES: Written comments should be received on or before December 10, 
2018 to be assured of consideration.

ADDRESSES: Direct all written comments to Laurie Brimmer, Internal 
Revenue Service, Room 6529, 1111 Constitution Avenue NW, Washington, DC 
20224. Please send separate comments for each specific information 
collection listed below. You must reference the information 
collection's title, form number, reporting or record-keeping 
requirement number, and OMB number (if any) in your comment.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the collection tools should be directed to Alissa Berry, at 
(901) 707-4988, at Internal Revenue Service, Room 6529, 1111 
Constitution Avenue NW, Washington, DC 20224, or through the internet 
at [email protected].

SUPPLEMENTARY INFORMATION: Currently, the IRS is seeking comments 
concerning the following information collection tools, reporting, and 
record-keeping requirements:
    Title: Deemed IRAs In Qualified Retirement Plans (REG-157302-02).
    OMB Number: 1545-1841.
    Treasury Decision Number: 9142.
    Abstract: Section 408(q), added to the Internal Revenue Code by 
section 602 of the Economic Growth and Tax Relief Reconciliation Act of 
2001, provides that separate accounts and annuities may be added to 
qualified employer plans and deemed to be individual retirement 
accounts and individual retirement annuities if certain requirements 
are met. Section 1.408(q)-1(f)(2) provides that these deemed IRAs must 
be held in a trust or annuity contract separate from the trust or 
annuity contract of the qualified employer plan. This collection of 
information is required to ensure that the separate requirements of 
qualified employer plans and IRAs are met.
    Current Actions: There are no changes to the collection at this 
time.
    Type of Review: Extension without change of currently approved 
collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 800.
    Estimated Time per Respondent: 50 hours.
    Estimated Total Annual Burden Hours: 40,000.
    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: October 2, 2018.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2018-21769 Filed 10-5-18; 8:45 am]
 BILLING CODE 4830-01-P