[Federal Register Volume 83, Number 92 (Friday, May 11, 2018)]
[Notices]
[Page 22124]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-10024]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 1099-R
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
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SUMMARY: The Internal Revenue Service (IRS), 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 information collections, as required by the Paperwork Reduction Act
of 1995. The IRS is soliciting comments concerning Distributions From
Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs,
Insurance Contracts, etc.
DATES: Written comments should be received on or before July 10, 2018
to be assured of consideration.
ADDRESSES: Direct all written comments to Laurie Brimmer, Internal
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC
20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the form and instructions should be directed to Martha R.
Brinson, at (202) 317-5753, or at Internal Revenue Service, Room 6526,
1111 Constitution Avenue NW, Washington, DC 20224, or through the
internet at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Distributions From Pensions, Annuities, Retirement or
Profit-Sharing Plans, IRAs, Insurance Contracts, etc.
OMB Number: 1545-0119.
Form Number: 1099-R.
Abstract: Form 1099-R is used to report distributions from
pensions, annuities, profit-sharing or retirement plans, IRAs, and the
surrender of insurance contracts. This information is used by IRS to
verify that income has been properly reported by the recipient.
Current Actions: (1) We have added a box ``to report the date of
payment on a reportable life insurance policy sale'' (2) Instructions
were updated for boxes 1 and 5 to reflect reportable policy sales, and
(3) A new distribution code ``X'' for reportable policy sales in the
box 7 instructions.
Type of Review: Revision of a currently approved collection.
Affected Public: Businesses or other for-profit organizations, not
for-profit institutions, and Federal, state, local or tribal
governments.
Estimated Number of Responses: 89,333,000.
Estimated Time per Response: 26 mins.
Estimated Total Annual Burden Hours: 39,306,520.
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.
Comments will be 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 has
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 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: May 2, 2018.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2018-10024 Filed 5-10-18; 8:45 am]
BILLING CODE 4830-01-P