View Information Collection Request (ICR) Package
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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
1212-0057
ICR Reference No:
200705-1212-001
Status:
Historical Active
Previous ICR Reference No:
200410-1212-002
Agency/Subagency:
PBGC
Agency Tracking No:
Title:
Annual Information Return/Report
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
09/24/2007
Retrieve Notice of Action (NOA)
Date Received in OIRA:
07/17/2007
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
09/30/2010
36 Months From Approved
12/31/2007
Responses
30,300
0
28,900
Time Burden (Hours)
1,800
0
2,373
Cost Burden (Dollars)
1,600,000
0
1,737,000
Abstract:
Sections 104 and 4065 of ERISA require plan administrators to file an annual report. The report must contain the information described in section 103 of ERISA. The Form 5500 Series provides a standard format for fulfilling that requirement.
Authorizing Statute(s):
US Code:
29 USC 1302(b)(3), 1365
Name of Law: ERISA
Citations for New Statutory Requirements:
Statute at Large: 120 Stat. 780 Name of Statute: Pension Protection Act of 2006
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
1210-AB06
Final or interim final rulemaking
71 FR 41392
07/21/2006
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
71 FR 41616
07/21/2006
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Annual Information Return/Report
5500, 5500-SF
Annual Return/Report of Employee Benefit Plan
,
Short Form Annual Return/Report of Small Employee Benefit Plan
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
30,300
28,900
0
0
1,400
0
Annual Time Burden (Hours)
1,800
2,373
-400
0
-173
0
Annual Cost Burden (Dollars)
1,600,000
1,737,000
-200,000
0
63,000
0
Burden increases because of Program Change due to Agency Discretion:
No
Burden Increase Due to:
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The Pension Protection Act of 2006 required a simplified reporting alternative for certain small plans, which resulted in a decrease in the hour and cost burdens. (Program Change Due to New Statute.) The Department of Labor (Employee Benefits Security Administration) updated the model that is used for these burden calculations and used updated estimates of the number of plans affected by the regulation, which resulted in a slight decrease in the hour burden and a slight increase in the cost burden. (Change Due to Adjustment in Agency Estimate.)
Annual Cost to Federal Government:
$400,000
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
Uncollected
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Uncollected
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
Uncollected
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
James Beller 202 326-4024
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
07/17/2007
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