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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:
1545-1610
ICR Reference No:
201803-1545-013
Status:
Historical Active
Previous ICR Reference No:
201703-1545-012
Agency/Subagency:
TREAS/IRS
Agency Tracking No:
Title:
Annual Return/Report of Employee Benefit Plan
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:
05/02/2018
Retrieve Notice of Action (NOA)
Date Received in OIRA:
03/29/2018
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
10/31/2019
10/31/2019
10/31/2019
Responses
833,500
0
828,500
Time Burden (Hours)
339,208
0
338,208
Cost Burden (Dollars)
132,661,000
0
137,129,000
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):
PL:
Pub.L. 109 - 280 1
Name of Law: The Pension Protection Act of 2006 (PPA)
US Code:
26 USC 6058
Name of Law: Information required in connection with certain plans of deferred compensation
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 192 430 Name of Law: Pension Relief Act
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:
81 FR 18687
03/31/2016
30-day Notice:
Federal Register Citation:
Citation Date:
81 FR 42794
06/30/2016
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
2
IC Title
Form No.
Form Name
Annual Return/Report of Employee Benefit Plan
5500, Sch C (Form 5500), Sch A (Form 5500), Sch D (Form 5500), Sch R (Form 5500), Sch SB (Form 5500) , 5500SF, Sch G (Form 5500), Sch H (Form 5500), Sch I (Form 5500), Sch MB (Form 5500)
Annual Return/Report of Employee Benefit Plan
,
Short Form Annual Return/Report of Small Employee Benefit Plan
,
Insurance Information
,
Service Provider Information
,
DFE/Participating Plan Information
,
Financial Transaction Schedules
,
Financial Information
,
Financial InformationSmall Plan
,
Multiemployer Defined Benefit Plan and Certain Money Purchase Plan Actuarial Information
,
Retirement Plan Information
,
Single-Employer Defined Benefit Plan Actuarial Information
Form 5500-SUP - Annual Return of Employee Benefit Plan Supplemental Information
5500-SUP
Annual Return of Employee Benefit Plan Supplemental Information
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
833,500
828,500
0
0
5,000
0
Annual Time Burden (Hours)
339,208
338,208
0
0
1,000
0
Annual Cost Burden (Dollars)
132,661,000
137,129,000
0
0
-4,468,000
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:
Form 5500 is a Tri-Agency form shared between Department of Labor OMB Control Number 1210-0110, Pension Benefit Guaranty Corporation (PBGC) OMB Control Number 1212-0057 and Internal Revenue Service OMB Control Number 1545-1610. Since this is a Tri-Agency form, the three agencies coordinate the information collection submissions by March 30, 2018 to OMB in order to maximize the information available to OMB. Lines 42 and 43 of the Schedule SB will not be used for plan years beginning on or after January 1, 2018, because there are no installment acceleration amounts or installment acceleration amount carryovers after 2017. Therefore, IRS is removing Lines 42 and 43 from the Form 5500 Series Schedule SB. • IRS is revising the estimates such that for the “Annual Return/Report” IC (See accompanying document for greater detail): o Responses increased from 828,000 to 833,000 (+5,000) due to additional filings o Burden hours increased from 338,000 to 339,000 (+1,000) led by the filing increase o Labor costs decreased from $137.129 million to $132.661 million (-$4.468 million) Decreased wage rates (due to an adjustment in how the Department of Labor calculates the overhead cost input for wage rates) led the cost burden to decrease.
Annual Cost to Federal Government:
$5,250,000
Does this IC contain surveys, censuses, or employ statistical methods?
No
Does this ICR request any personally identifiable information (see
OMB Circular No. A-130
for an explanation of this term)? Please consult with your agency's privacy program when making this determination.
No
Does this ICR include a form that requires a Privacy Act Statement (see
5 U.S.C. §552a(e)(3)
)? Please consult with your agency's privacy program when making this determination.
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:
Leslie Larson 202 317-8691
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:
03/29/2018
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