View Information Collection Request (ICR) Package
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View Information Collection (IC) List
View Supporting Statement and Other Documents
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:
1545-1610
ICR Reference No:
201009-1545-044
Status:
Historical Active
Previous ICR Reference No:
201004-1545-007
Agency/Subagency:
TREAS/IRS
Agency Tracking No:
ah-1610-044
Title:
Annual Return/Report of Employee Benefit Plan
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:
01/23/2011
Retrieve Notice of Action (NOA)
Date Received in OIRA:
10/29/2010
Terms of Clearance:
Treasury will continue to determine whether there is double-counting of burden with Dept. of Labor's associated collections 1210-0110, 1210-0089, 1212-0057, and SSA collection 0960-0606.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
01/31/2014
36 Months From Approved
01/31/2011
Responses
780,335
0
780,000
Time Burden (Hours)
320,028
0
323,000
Cost Burden (Dollars)
98,000,000
0
98,000,000
Abstract:
Form 5500 is an annual information return filed by employee benefit plans. The IRS uses this information to determine if the plan appears to be operating properly as required under the law or whether the plan should be audited.
Authorizing Statute(s):
US Code:
26 USC 6058
Name of Law: Information required in connection with certain plans of deferred compensation
PL:
Pub.L. 109 - 280 1
Name of Law: The Pension Protection Act of 2006 (PPA)
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 192 1 Name of Law: The Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
75 FR 33386
06/11/2010
30-day Notice:
Federal Register Citation:
Citation Date:
75 FR 66828
10/29/2010
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Annual Return/Report of Employee Benefit Plan
Schedule D, 5500, Schedule A , Sch MB (Form 5500), Schedule G, Schedule H, Schedule I, Schedule R , Sch SB (Form 5500), 5500-SF, Schedule C
Insurance Information
,
Service Provider Information
,
DFE/Participating Plan Information
,
Financial Transaction Schedules
,
Financial Information
,
Financial Information - Small Plan
,
Retirement Plan Information
,
Multiemployer Defined Benefit Plan and Certain Money Purchase Plan Actuarial Information
,
Annual Return/Report of Employee Benefit Plan
,
Single-Employer Defined Benefit Plan Actuarial Information
,
Short Form Annual Return/Report of Small Employee Bennefit 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
780,335
780,000
335
0
0
0
Annual Time Burden (Hours)
320,028
323,000
28
0
-3,000
0
Annual Cost Burden (Dollars)
98,000,000
98,000,000
0
0
0
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:
IRS burden was reduced by 3,000 hours to correct double accounting. The Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 (PRA 2010), Pub. L. No. 111¬-192, provides two optional special funding rules that are available to plan sponsors of multiemployer defined benefit plans. Although PRA 2010 was enacted on June 25, 2010, it may affect a plans funding computations for plan years for which a Form 5500 and Schedule MB have already been filed. The Service recently issued Notice 2010-83, 2010-51 I.R.B. 862, explaining, among other things, how to report the effects of the special funding rules for such years (as approved by OMB on 11/19/2010 ). These changes have resulted in a total burden increase of 28 hours and 335 responses.
Annual Cost to Federal Government:
$3,032,900
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]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Vikki Vrooman 202 927-9868
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:
10/29/2010
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