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:
1545-0197
ICR Reference No:
201102-1545-019
Status:
Historical Active
Previous ICR Reference No:
200801-1545-012
Agency/Subagency:
TREAS/IRS
Agency Tracking No:
jg-0197-019
Title:
Form 5300, Application for Determination for Employee Benefit Plan, Schedule Q (Form 5300), Elective Determination Requests
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:
05/27/2011
Retrieve Notice of Action (NOA)
Date Received in OIRA:
03/29/2011
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
05/31/2014
36 Months From Approved
05/31/2011
Responses
185,000
0
185,000
Time Burden (Hours)
9,638,000
0
7,972,750
Cost Burden (Dollars)
0
0
0
Abstract:
IRS needs certain information on the financing and operating of employee benefit and employee contribution plans set up by employers. IRS uses Form 5300 to obtain the information needed to determine whether the plans qualify under Code sections 401(a) and 501(a). Schedule Q provides information related to the manner in which a plan satisfies certain qualification requirements relating to minimum participation, coverage, and nondiscrimination.
Authorizing Statute(s):
US Code:
26 USC 501(a)
Name of Law: Exemption from taxation.
US Code:
26 USC 401(a)
Name of Law: Requirements for qualification.
Citations for New Statutory Requirements:
None
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 61840
10/06/2010
30-day Notice:
Federal Register Citation:
Citation Date:
76 FR 15365
03/21/2011
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
2
IC Title
Form No.
Form Name
Form 5300 (Schedule Q)
Schedul Q (Form 5300)
Elective Determination Requests
Form 5300, Application for Determination for Employee Benefit Plan, Schedule Q (Form 5300), Elective Determination Requests
5300
Application for Determination for 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
185,000
185,000
0
0
0
0
Annual Time Burden (Hours)
9,638,000
7,972,750
0
1,665,250
0
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Changing Regulations
Burden decreases because of Program Change due to Agency Discretion:
Yes
Burden Reduction Due to:
Changing Regulations
Short Statement:
Changes were made to the Form 5300 to streamline the requested information while complying with current regulations. Revenue Procedure 2007-44, requests that taxpayer must provide information to indicate whether or not a ruling is being requested for: 1. A determination regarding the ratio percentage under Regulations section 1.410(b)-2(b)2; 2. A determination regarding one of the special requirements under Regulations section 1.410(b)-2(b)(5),(6)or (7), or 3. A determination regarding the nondiscrimination designed-based safe harbors of section 401(a)(4). The overall affect on burden relating to the changes made to Form 5300 will result in a total burden decrease of 46,750 hours. Changes were made to the Schedule Q (Form 5300), based on suggestions received from the Tax Exempt/Government Entities office within the IRS to comply with changing regulations. New reporting requirements for requests for determination of the gateway requirements under section 1.401(a)(4)-8 have been added to this collection tool. The description should provide; Which test is being satisfied, If using the minimum amount test, provide the Defined Benefit Plan and Defined contribution Plan information and rates separately, and State whether the non-highly compensated employee (NHCE) rate are averaged or tested separately. The result of these changes to the Schedule Q will result in a total burden increase of 1,712,000 burden hours. The combined impact on burden, approved under this approval number, will result in a net total burden increase of 1,665,250 hours.
Annual Cost to Federal Government:
$340,243
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:
Trene Cheek 202 283-2225
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:
03/29/2011
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