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View ICR - OIRA Conclusion

OMB Control No: 1210-0092	ICR Reference No: 202403-1210-003
Status: Active	Previous ICR Reference No: 202308-1210-008
Agency/Subagency: DOL/EBSA	Agency Tracking No:
Title: Prohibited Transaction Class Exemption 75-1, Security Transactions with Broker-Dealers, Reporting Dealers, and Banks
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: 05/16/2024
	Date Received in OIRA: 04/25/2024
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2027	36 Months From Approved	08/31/2025
Responses	3,944	0	5,644
Time Burden (Hours)	15,776	0	941
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Adjustment in Estimate
Annual Number of Responses	3,944	5,644	-1,700
Annual Time Burden (Hours)	15,776	941	14,835
Annual Cost Burden (Dollars)	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: The Department is amending PTE 75-1, Part V, to institute a new disclosure requirement. Additionally, the Department has updated the number of commercial banks and broker-dealers, as well as the wage costs due to increased labor costs and inflation. Furthermore, the Department has revised the additional time needed to maintain records for the financial institutions to be consistent with the exemption. In the previous information collection, the average hour burden was estimated to be 10 minutes per entity annually. In the current information collection, the average hour burden is estimated to be four hours per entity annually. As a result, the number of responses has decreased by 1,700 responses and the hour burden increased by 14,835 hours.

Annual Cost to Federal Government: $0

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: James Butikofer 202 693-8434 Butikofer.James@dol.gov

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