[Federal Register Volume 82, Number 155 (Monday, August 14, 2017)]
[Page 37987]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-17136]



Internal Revenue Service

Proposed Collection; Comment Request for Regulation Project

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.


SUMMARY: The Internal Revenue Service, 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 
continuing information collections, as required by the Paperwork 
Reduction Act of 1995. The IRS is soliciting comments concerning 
suspension or reduction of safe harbor nonelective contributions.

DATES: Written comments should be received on or before October 13, 
2017 to be assured of consideration.

ADDRESSES: Direct all written comments to L. Brimmer, Internal Revenue 
Service, room 6529, 1111 Constitution Avenue NW., Washington, DC 20224. 
Requests for additional information or copies of the regulations should 
be directed to Kerry Dennis, Internal Revenue Service, Room 6529, 1111 
Constitution Avenue NW., Washington DC 20224, or through the internet, 
at [email protected].

    Title: Suspension or Reduction of Safe Harbor Nonelective 
    OMB Number: 1545-2191.
    Regulation Project Number: T.D. 9641.
    Abstract: The final regulation allows a 401(k) plan using the safe 
harbor provisions of section 401(k)(12) to suspend or reduce 
nonelective safe harbor contributions if the employer is operating at 
an economic loss described in section 412(2)(A). The final regulations 
permit an employer to reduce or suspend safe harbor nonelective 
contributions without regard to the financial condition of the employer 
if notice is provided to participants before the beginning of the plan 
year which discloses the possibility that the contributions might be 
reduced or suspended midyear. The final regulations also permit 
matching contributions to be reduced or suspended under a mid-year 
amendment if the notice provided to participants before the beginning 
of the plan year discloses that the contributions might be reduced or 
suspended mid-year. These notices must also provide that a supplemental 
notice will be provided to plan participants if a reduction or 
suspension does occur and that the reduction or suspension will not 
apply until at least 30 days after the supplemental notice is provided.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals and Households, Businesses and other 
for-profit organizations.
    Estimated Number of Respondents: 5,000.
    Estimated Time per Respondent: 2 hours.
    Estimated Total Annual Burden Hours: 10,000.
    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: August 7, 2017.
L. Brimmer,
Senior Tax Analyst.
[FR Doc. 2017-17136 Filed 8-11-17; 8:45 am]