[Federal Register Volume 81, Number 218 (Thursday, November 10, 2016)]
[Notices]
[Pages 79118-79119]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-27102]
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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
[[Page 79119]]
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 revised regulations concerning section 403(b) tax-
sheltered annuity contracts.
DATES: Written comments should be received on or before January 9, 2017
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 Kerry Dennis at
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW.,
Washington, DC 20224, or through the internet at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Revised Regulations Concerning Section 403(b) Tax-Sheltered
Annuity Contracts.
OMB Number: 1545-2068.
Regulation Project Number: TD 9340.
Abstract: The collection of information in the regulations is in
final regulations under section 403(b) of the Internal Revenue Code and
under related provisions of sections 402(b), 402(g), 402A, and 414(c).
The regulations provide updated guidance on section 403(b) contracts of
public schools and tax-exempt organizations described in section
501(c)(3). Such information exchange is necessary to ensure compliance
with tax law requirements relating to loans and hardship distributions
from section 403(b) plans and sponsors of section 403(b) contracts,
administrators, participants, and beneficiaries.
Current Actions: There are no changes being made to this
regulation.
Type of Review: Extension of a previously approved collection.
Affected Public: Individuals or households, state, local or tribal
governments, and not-for-profit institutions.
Estimated Number of Respondents: 11,000.
Estimated Number of Responses: 90,000.
Estimated Time per Respondent: 4.1 hours.
Estimated Total Annual Burden Hours: 45,000.
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: October 27, 2016.
Tuawana Pinkston,
IRS Reports Clearance Officer.
[FR Doc. 2016-27102 Filed 11-9-16; 8:45 am]
BILLING CODE 4830-01-P