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:
1545-1673
ICR Reference No:
201309-1545-003
Status:
Historical Active
Previous ICR Reference No:
201208-1545-035
Agency/Subagency:
TREAS/IRS
Agency Tracking No:
Title:
Employee Plans Compliance Resolution System (R.P. 2013-12) - including Forms 8950, 8951, 14568, 14568-A thru I
Type of Information Collection:
No material or nonsubstantive change to a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
11/07/2014
Retrieve Notice of Action (NOA)
Date Received in OIRA:
07/29/2014
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
01/31/2016
01/31/2016
01/31/2016
Responses
14,300
0
10,020
Time Burden (Hours)
185,298
0
99,170
Cost Burden (Dollars)
0
0
0
Abstract:
The information requested in Revenue Procedure 2013-12 is required to enable the Internal Revenue Service to make determinations on the issuance of various types of closing agreements and compliance statements. The issuance of the agreements and statements allow individual plans to maintain their tax-qualified status. As a result, the favorable tax treatment of the benefits of the eligible employees is retained. Applicants under the Voluntary Correction Program (VCP) must file Forms 8950 and 8951, and the appropriate scheduled(s) to the applicable part of the model compliance statement, in order to request written approval from the IRS for a correction of a qualified plan that has failed to comply with the requirements of the Internal Revenue Code.
Authorizing Statute(s):
US Code:
26 USC 401
Name of Law: Qualified pension, profit-sharing, and stock bonus plans
US Code:
26 USC 403
Name of Law: Taxation of employee annuities
US Code:
26 USC 404
Name of Law: Deduction for contributions of an employer to anemployees' trust or annuity plan and compensation u
US Code:
26 USC 501
Name of Law: Exemption from tax on corporations, certain trusts, etc.
US Code:
26 USC 405
Name of Law: Individual retirement accounts
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:
77 FR 37099
06/20/2012
30-day Notice:
Federal Register Citation:
Citation Date:
77 FR 69545
11/19/2012
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
3
IC Title
Form No.
Form Name
Form 8950--Application for Voluntary Correction Program (VCP)
8950
Application for Voluntary Correction Program (VCP) Submission under the Employee Plans Compliance Resolution System (EPCRS)
Form 8951--Compliance Fee for Employee Plans Voluntary Correction Program
8951
Compliance Fee for Application for Voluntary Correction Program (VCP)
Revenue Procedure 2013-12 - Employee Plans Compliance Resolution System (RP 2006-27)
14568, 14568-B, 14568-E, 14568-D, 14568-F, 14568-G, 14568-A, 14568-C, 14568-H, 14568-I
Appendix C Part I Model VCP Submission Compliance Statement
,
Appendix C Part II Schedule 1 Interim and Certain Discretionary Nonamender Failures
,
Appendix C Part II Schedule 2 Nonamender Failures (other than those to which Schedule 1 applies) and Failure to Adopt a 403(b) Plan Timely
,
Appendix C Part II Schedule 3 SEPs and SARSEPs
,
Appendix C Part II Schedule 4 Simple IRAs
,
Appendix C Part II Schedule 5 Plan Loan Failures (Qualified Plans and 403(b) Plans)
,
Appendix C Part II Schedule 6 Employer Eligibility Failure (§ 401(k) and 403(b) Plans only)
,
Appendix C Part II Schedule 7 Failure to Distribute Elective Deferrals in Excess of the § 402(g) Limit
,
Appendix C Part II Schedule 8 Failure to Pay Required Minimum Distributions Timely under § 401(a)(9)
,
Appendix C Part II Schedule 9 Correction by Plan Amendment (in accordance with Appendix B)
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
14,300
10,020
0
555
3,725
0
Annual Time Burden (Hours)
185,298
99,170
0
6,201
79,927
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:
Miscellaneous Actions
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The burden previously approved did not provide the correct accounting of burden claimed in the revenue procedures. This adjustment is an increase of 3,725 responses and 79,927 burden hours to align burden reported in the Revenue Procedure 2008-50. The model forms in Appendix C of Revenue Procedure 2013-12 have been designed in a user-friendly, fillable PDF format to ensure that applicants are including all necessary information needed for processing a VCP submission. The model forms have also been assigned an IRS form number and are available to users through www.irs.gov. Revenue Procedure 2013-12 modifies and supersedes Revenue Procedures 2008-50. Increases of 555 responses and 6,201 burden hours are due to program change. Total burden hours requested are 185,298; a total increase of 86,128 hours.
Annual Cost to Federal Government:
$0
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:
Kathleen Hermann 2022839635
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:
07/29/2014
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