[Federal Register Volume 80, Number 12 (Tuesday, January 20, 2015)]
[Notices]
[Page 2781]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-00689]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Regulation Project
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
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SUMMARY: The Department of the Treasury, as part of its continuing
effort to reduce paperwork and respondent burden, invites the general
public and other Federal agencies to take this opportunity to comment
on proposed and/or continuing information collections, as required by
the Paperwork Reduction Act of 1995, Public Law 104-13(44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning
existing Final Regulation, TD 9467--Measurement of Assets and
Liabilities for Pension Funding Purposes, and Notice 2014-53--Pension
Funding Stabilization under the Highway and Transportation Funding Act
of 2014 (HAFTA).
DATES: Written comments should be received on or before March 23, 2015
to be assured of consideration.
ADDRESSES: Direct all written comments to Christie Preston, Internal
Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the regulations should be directed to Elaine Christophe at
Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW.,
Washington, DC 20224, or through the internet at
[email protected].
SUPPLEMENTARY INFORMATION:
Title: Measurement of Assets and Liabilities for Pension Funding
Purposes.
OMB Number: 1545-2095.
Regulation Project Number: REG-139236-07 (TD 9467).
Abstract: In order to implement the statutory provisions under
sections 430 and 436, this final regulation contains collections of
information in Sec. Sec. 1.430(f)-1(f), 1.430(h)(2)-1(e), 1.436-1(f),
and 1.436-1(h). The information required under Sec. 1.430(f)-1(f) is
required in order for plan sponsors to make elections regarding a
plan's credit balances upon occasion. The information under Sec.
1.430(g)-1(d)(3) is required in order for a plan sponsor to include as
a plan asset a contribution made to avoid a restriction under section
436. The information required under Sec. 1.430(h)(2)-1(e) is required
in order for a plan sponsor to make an election to use an alternative
interest rate for purposes of determining a plan's funding obligations
under Sec. 1.430(h)(2)-1. The information required under Sec. Sec.
1.436-1(f) and 1.436-1(h) is required in order for a qualified defined
benefit plan's enrolled actuary to provide a timely certification of
the plan's adjusted funding target attainment percentage (AFTAP) for
each plan year to avoid certain benefit restrictions.
The Highway and Transportation Funding Act of 2014 (HATFA), Public
Law 113-159, was enacted on August 8, 2014, and was effective
retroactively for single employer defined benefit pension plans,
optional for plan years beginning in 2013 and mandatory for plan years
beginning in 2014. Notice 2014-53 provides guidance on these changes to
the funding stabilization rules for single-employer pension plans.
Current Actions: There is no change to TD 9465 or Notice 2014-53.
Type of Review: Revision of a currently approved collection.
Affected Public: Individuals, business or other for-profit
organizations, not-for-profit institutions and Federal, State, local or
tribal governments.
TD 9467
Estimated Number of Respondents: 80,000.
Estimated Time per Respondent: 1.5 hrs.
Estimated Total Annual Burden Hours: 120,000.
Notice 2014-53
Estimated Number of Respondents: 76,600.
Estimated Time per Respondent: 1 hr.
Estimated Total Annual Burden Hours: 38,000.
The following paragraph applies to all of the collections of
information covered by this notice:
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collection of
information displays a valid OMB control number. Books or records
relating to a collection of information must be retained as long as
their contents may become material in the administration of any
internal revenue law. Generally, tax returns and tax return information
are confidential, as required by 26 U.S.C. 6103.
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in the request for OMB approval. All
comments will become a matter of public record. Comments are invited
on: (a) Whether the collection of information is necessary for the
proper performance of the functions of the agency, including whether
the information shall have practical utility; (b) the accuracy of the
agency's estimate of the burden of the collection of information; (c)
ways to enhance the quality, utility, and clarity of the information to
be collected; (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated
collection techniques or other forms of information technology; and (e)
estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Approved: January 12, 2015.
Christie Preston,
OMB Reports Clearance Officer.
[FR Doc. 2015-00689 Filed 1-16-15; 8:45 am]
BILLING CODE 4830-01-P