[Federal Register Volume 81, Number 144 (Wednesday, July 27, 2016)]
[Notices]
[Page 49358]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-17760]
[[Page 49358]]
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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 this 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
Compensation Deferred Under Eligible Deferred Compensation Plans.
DATES: Written comments should be received on or before September 26,
2016 to be assured of consideration.
ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal
Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the regulations should be directed to Allan Hopkins, at
Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW.,
Washington, DC 20224, or through the Internet at
[email protected].
SUPPLEMENTARY INFORMATION:
Title: Compensation Deferred Under Eligible Deferred Compensation
Plans.
OMB Number: 1545-1580.
Regulation Project Number: TD 9075.
Abstract: The Small Business Job Protection Act of 1996 and the
Taxpayer Relief Act of 1997 made changes to rules under Internal
Revenue Code section 457 regarding eligible deferred compensation plans
offered by state and local governments. TD 9075 requires state and
local governments to establish a written trust, custodial account, or
annuity contract to hold the assets and income in trust for the
exclusive benefit of its participants and beneficiaries. Also, new non-
bank custodians must submit applications to the IRS to be approved to
serve as custodians of section 457 plan assets.
Current Actions: There are no changes being made to the regulation
at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: State, local or tribal governments.
Estimated Number of Respondents: 10,260.
Estimated Time per Respondent: 1 hour 2 minutes.
Estimate Total Annual Burden Hours: 10,600.
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: July 21, 2016.
Allan Hopkins,
Tax Analyst.
[FR Doc. 2016-17760 Filed 7-26-16; 8:45 am]
BILLING CODE 4830-01-P