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OMB Control No: 9000-0067	ICR Reference No: 202202-9000-004
Status: Historical Active	Previous ICR Reference No: 201810-9000-005
Agency/Subagency: FAR	Agency Tracking No:
Title: Certain Federal Acquisition Regulation Part 16 Contract Pricing Requirements - FAR Sections Affected: 52.216-2, 52.216-3, 52.216-4, 52.216-5, 52.216-6, 52.216-16, and 52.216-17
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: 04/11/2022
	Date Received in OIRA: 02/26/2022
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2025	36 Months From Approved	04/30/2022
Responses	61,580	0	880
Time Burden (Hours)	114,743	0	1,320
Cost Burden (Dollars)	6,540,351	0	62,120

Abstract: This clearance covers the information that contractors must submit to comply with the following FAR part 16 requirements: ● FAR 52.216-2, Economic Price Adjustment-Standard Supplies; FAR 52.216-3, Economic Price Adjustment-Semistandard Supplies; and FAR 52.216-4, Economic Price Adjustment-Labor and Material. These clauses require contractors on contracts that provide for economic price adjustments to promptly notify the contracting officer of any increases or decreases to established prices or labor rates (including fringe) because of certain contingencies, such as increases or decreases to established catalog or market prices or changes to cost indexes for labor or materials. ● FAR 52.216-5, Price Redetermination-Prospective. Paragraph (c) of this clause requires a contractor on a fixed-price contract with prospective price redetermination to submit to the Government (within an agreed upon timeframe) a statement of costs incurred for the most recent period of performance, the proposed prices for the upcoming contract period, and any supporting or relevant documentation. Per paragraph (h) of the clause, during periods where firm prices have not been established, the contractor must also submit quarterly statements that includes a breakdown of total contract prices, costs, and profit incurred and all invoices accepted for delivered items or services for which final prices have not been established. ● FAR 52.216-6, Price Redetermination-Retroactive. Paragraph (c) of this clause requires a contractor on a fixed-ceiling-price contract with retroactive price redetermination to submit to the Government (within an agreed upon timeframe after completion of the contract) the proposed prices, all costs incurred in performing the contract, and any supporting or relevant documentation. Per paragraph (g) of the clause, until final price redetermination has been completed, the contractor must also submit a quarterly statement that includes a breakdown of total contract prices, costs, and interim profit incurred and all invoices accepted for delivered items. ● FAR 52.216-16, Incentive Price Revision–Firm Target; and FAR 52.216-17, Incentive Price Revision–Successive Targets. These clauses require contractors on fixed price incentive (firm or successive target) contracts to submit to the Government on a quarterly basis a statement regarding total contract prices, costs, portions of interim profit, and amounts of invoices or vouchers for completed work that is cumulative from the beginning of the contract (see 52.216-16(g) and 52.216-17(i)). Upon final delivery of supplies or completion of services for covered line items, the contractor is required to submit a detailed statement of all costs incurred up to the end of that month in performing all work under the items; an estimate of costs of further performance, if any, that may be necessary to complete performance of all work under the items; a list of all residual inventory and an estimate of its value; and any other relevant data that the Contracting Officer may reasonably require (see 52.216-16(c) and 52.216-17(e)). Paragraph (c) of 52.216-17 also requires submission of data for establishing the firm fixed price or a final profit adjustment formula.

Authorizing Statute(s): None

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:
	86 FR 71641	12/17/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 10215	02/23/2022
Did the Agency receive public comments on this ICR? No

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	61,580	880	60,700
Annual Time Burden (Hours)	114,743	1,320	113,423
Annual Cost Burden (Dollars)	6,540,351	62,120	6,478,231

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 clause at FAR 52.216-10 previously covered under OMB Control Number 9000-0067 is removed from this supporting statement because it does not include an information collection requirement. As a result, the estimated number of incentive contracts impacted no longer includes cost-type incentive contracts. ● The estimated number of respondents and responses per year is based on the average of FPDS data for the three most recent fiscal years (2018 through 2020). The parameters for data pulled from FPDS for each clause is consistent with the prescription for each clause, resulting in changes to the number of respondents and average contracts per respondent for the individual burden estimates. ● The estimated number of responses for the clauses at FAR 52.216-2, 52.216-3, and 52.216-4 are reduced from 758,432 total responses to 44,370 total responses. The prior estimate under OMB Control No. 9000-0068 cited FPDS data for FY 2018; however, it appears that the report included delivery orders. For this revision, delivery orders are excluded from the report, since it is assumed that economic price adjustments would occur at the contract line-item level. ● The clauses at FAR 52.216-5, 52.216-6, 52.216-16, and 52.216-17 all require similar data submissions and quarterly statements until the work is completed or there is a final price redetermination. However, the previous estimates included different hours per response. Given the similarity in the reporting requirements, it is assumed that the number of responses per contract and the amount of time per response should be the same. As such, the basis for the estimates for each clause has been revised as follows: o The burden for the data submission requirement and the quarterly statement for each clause are estimated separately. o The estimated hours per response for the data submission requirement is 8 hours for the contractor and 2 hours for the Government. This is modelled after the previous estimates for FAR 52.216-5 and 52.216-6 (9000-0071) and accounts for the significant amount of data required in the submission. o The estimated hours per response for the quarterly statement is 1.5 hours for the contractor and 1 hour for the Government. This is modelled after the previous estimates for FAR 52.216-16 and 52.216-17 (9000-0067) and accounts for the fact that the data in this statement is much easier to compile. ● The estimated cost per hour is based on use of the current (calendar year 2021) OPM GS wage rate the rest of the United States for a GS-12/Step 5 employee. The prior estimates for the clauses at FAR 52.216-5 and 52.216-6 used a GS-9/Step 5 wage rate. The estimates for these clauses now use the GS-12/Step 5 wage rate, since the employees performing these functions are likely in similar positions to those performing the functions for the other covered clauses.

Annual Cost to Federal Government: $2,529,090

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? No

Agency Contact: Edward Loeb 2025010650 Edward.Loeb@gsa.gov

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