[Federal Register Volume 65, Number 47 (Thursday, March 9, 2000)]
[Notices]
[Pages 12579-12580]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-5765]
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DEPARTMENT OF LABOR
Pension and Welfare Benefits Administration
Proposed Information Collection Request Submitted for Public
Comment
ACTION: Notice.
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SUMMARY: The Department of Labor (the Department), as part of its
continuing effort to reduce paperwork and respondent burden, conducts a
preclearance consultation program to provide the general public and
other federal agencies with an opportunity to comment on proposed and
continuing collections of information in accordance with the Paperwork
Reduction Act of 1995 (PRA 95) (44 U.S.C. 3506(c)(2)(A)). This program
helps to ensure that requested data is provided in the desired format,
reporting burden (time and financial resources) is minimized,
collection instruments are clearly understood, and the impact of
collection requirements on respondents can be properly assessed. By
this notice, the Department is soliciting comments concerning the
Application for EFAST Electronic Signature and Codes for EFAST
Transmitters and Software Developers (Form EFAST-1). A copy of the
proposed information collection request (ICR) can be obtained by
contacting the office listed below in the addresses section of this
notice. The proposed Form EFAST-1 is also available for viewing and
downloading through the Department of Labor's Internet site (http://
www.efast.dol.gov).
DATES: Written comments must be submitted to the office listed in the
addresses section below on or before May 8, 2000.
ADDRESSES: Interested parties are invited to submit written comments
regarding the collection of information. Send comments to Gerald B.
Lindrew, Office of Policy and Research, U.S. Department of Labor,
Pension and Welfare Benefits Administration, 200 Constitution Avenue,
NW, Room N-5647, Washington, DC 20210. Telephone: (202) 219-4782; Fax:
(202) 219-4745. These are not toll-free numbers.
SUPPLEMENTARY INFORMATION:
I. Background
Under part 1 of Title 1 of the Employee Retirement Income Security
Act of 1974 (ERISA), Title IV of ERISA, and the Internal Revenue Code
of 1986, as amended, administrators of pension and welfare benefit
plans (collectively, employee benefit plans) subject to those
provisions and employers sponsoring certain fringe benefit plans and
other plans of deferred compensation are required to file returns/
reports annually concerning the financial condition and operations of
the plans. These reporting requirements are satisfied generally by
filing the Form 5500 Series in accordance with its instructions and the
related regulations.
In August of 1998, the Department of Labor, Pension and Welfare
Benefits Administration, Department of the Treasury, Internal Revenue
Service (IRS), and the Pension Benefit Guaranty Corporation
(collectively, the Agencies) received approval for the revised and
streamlined Form 5500 Series, subject to the Agencies' solicitation of
public comments on a computer scannable format for the Form 5500. A
notice requesting comments from the public on computer scannable
formats was published by the Agencies on June 28, 1999 (64 FR 34686).
The final computer scannable ``hand print'' and ``machine-print''
formats for the Form 5500 were announced on February 2, 2000 in
connection with the Agencies' Notice of Adoption of Revised Forms (65
FR 5026).
The computer scannable formats were developed to facilitate the
implementation of the new computerized system to process the Form 5500
and the IRS Form 5500-EZ--the ERISA Filing and Acceptance System, or
EFAST. EFAST is designed to simplify and expedite the receipt and
processing of the new Form 5500 and Form 5500-EZ by relying on computer
scannable forms and electronic filing technologies. The computer
scannable forms are being implemented for 1999 plan year filings. The
Form 5500 and Form 5500-EZ for 1999 plan years may also be filed
electronically via modem, magnetic tape, floppy diskette, or CD-ROM.
In order to participate in the electronic filing program,
applicants will be required to submit an Application for EFAST
Electronic Signature and Codes for EFAST Transmitters and Software
Developers (Form EFAST-1), the subject of this ICR. The Internal
Revenue Service currently uses forms for similar purposes. This new
EFAST form was designed to meet the needs of the new processing system.
Applicants who may file the Form EFAST-1 include: (1) Individuals
applying for an electronic signature to sign a Form 5500 or 5500-EZ as,
or on behalf of, plan administrators, employers/plan sponsors, or
Direct Filing Entities (DFEs) using modem, magnetic tape, floppy
diskette, or CD-ROM to file electronically; (2) transmitters (a
company, trade, business, or other person) applying for codes to
transmit Forms 5500 and/or Forms 5500-EZ for electronic filing using
modem, magnetic tape, floppy diskette, or CD-ROM; and, (3) software
developers (a company, trade, business, or other person that creates,
programs, or otherwise modifies computer software) applying for codes
required to develop EFAST-compliant computer software for
electronically preparing and filing the Form 5500 and/or Form 5500-EZ.
Applicants will provide some or all of the following information
depending on applicant type: name and title of applicant, mailing
address, Employer Identification Number (EIN),
[[Page 12580]]
telephone number, facsimile number and e-mail address (optional),
contact person if different than applicant, and a signed agreement
concerning the terms and conditions of the electronic filing program.
Applicants will receive, depending on applicant type, some or all of
the following: electronic signature; filer identification number;
personal identification number; encryption key; electronic filing
identification number; password; and software developer ID. Applicants
will use these codes, as applicable, in connection with electronic
filing, electronic transmission, or developing EFAST software for the
Form 5500 and 5500-EZ.
The information provided by the applicants on EFAST-1, combined
with the codes supplied to the applicants by the program, will allow
EFAST to verify a filer, transmitter, or software developer's standing
as a qualified participant in the EFAST electronic filing program for
the Form 5500 and 5500-EZ. EFAST-1 information will also establish a
means of contact between the EFAST program and filers, transmitters,
and software developers for information exchange.
II. Review Focus
The Department is particularly interested in comments that:
Evaluate whether the proposed collection of information is
necessary for the proper performance of the functions of the agencies,
including whether the information will have practical utility;
Evaluate the accuracy of the agencies' estimate of the
burden of the proposed collection of information, including the
validity of the methodology and assumptions used;
Enhance the quality, utility, and clarity of the
information to be collected;
Minimize the burden of the collection of information on
those who are to respond, including through the use of appropriate
automated, electronic, mechanical, or other technological collection
techniques or other forms of information technology, e.g., permitting
electronic submission of responses.
III. Current Actions
Currently, the Pension and Welfare Benefits Administration is
requesting comments on the proposed Application for EFAST Electronic
Signature and Codes for EFAST Transmitters and Software Developers
(Form EFAST-1), the subject of this ICR. Although the Department has
submitted the ICR to the Office of Management and Budget (OMB) using
emergency review procedures, \1\ and has requested approved by March
24, 2000, the Department will take comments received by May 8, 2000
into consideration in finalizing the Form EFAST-1, and in its
submission to OMB for continuing approval of the ICR.
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\1\ See the notice of Submission for OMB Emergency Review
published by the Office of the Secretary, Department of Labor, which
is also published in today's Federal Register.
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Agency: Department of Labor, Pension and Welfare Benefits
Administration.
Title: Application for EFAST Electronic Signature and Codes for
EFAST Transmitters and Software Developers.
Agency Form: EFAST-1.
OMB Number: 1210-NEW.
Frequency: On occasion.
Affected Public: Individuals or households; business or other for-
profit; Not-for-profit institutions.
Total Respondents: 60,250.
Total Responses: 60,250.
Estimated Total Burden Hours: 20,100.
Estimated Total Burden Cost: $22,900.
Dated: March 3, 2000.
Gerald B. Lindrew,
Deputy Director, Office of Policy and Research, Pension and Welfare
Benefits Administration.
[FR Doc. 00-5765 Filed 3-8-00; 8:45 am]
BILLING CODE 4510-29-M