[Federal Register Volume 59, Number 173 (Thursday, September 8, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-22109]


[[Page Unknown]]

[Federal Register: September 8, 1994]


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DEPARTMENT OF THE TREASURY
 

Public Information Collection Requirements Submitted to OMB for 
Review

August 29, 1994.
    The Department of Treasury has submitted the following public 
information collection requirement(s) to OMB for review and clearance 
under the Paperwork Reduction Act of 1980, Public Law 96-511. Copies of 
the submission(s) may be obtained by calling the Treasury Bureau 
Clearance Officer listed. Comments regarding this information 
collection should be addressed to the OMB reviewer listed and to the 
Treasury Department Clearance Officer, Department of the Treasury, Room 
2110, 1425 New York Avenue, NW., Washington, DC 20220.

Internal Revenue Service (IRS)

OMB Number: New
Form Number: IRS Form 8844
Type of Review: New collection
Title: Empowerment Zone Employment Credit
Description: Employers who hire employees who live and work in one of 
the 9 designated empowerment zones can receive a tax credit for the 
first 15,000 of wages paid to each employee. The credit is applicable 
from the date of designation through the year 2004.
Respondents: Individuals or households, Farms, Business or other for-
Profit; Non-profit institutions, Small businesses or organizations
Estimated Number of Respondents/Recordkeepers: 30,000
Estimated Burden Hours Per Respondent/Recordkeeper: 
    Recordkeeping--7 hr., 39 min.
    Learning about the law or the form--1 hr., 47 min.
    Preparing and sending the form to the IRS--1 hr., 59 min.
Frequency of Response: Annually
Estimated Total Reporting/Recordkeeping Burden: 342,900 hours

OMB Number: 1545-0710
Form Number: IRS Form 5500, 5500-C/R, Schedule B (Form 5500), Schedule 
F (Form 5500), Schedule E (Form 5500), Schedule P (Form 5500)
Type of Review: Revision
Title: Annual Return/Report of Employee Benefit Plan, Return/Report of 
Employee Benefit Plan and Associated Schedules
Description: Forms listed in items are annual information returns filed 
by employee benefit plans. The IRS uses this to determine if the plan 
appears to be operating properly as required under the law or whether 
the plan should be audited.
Respondents: Businesses or other for-profit, Small businesses or 
organizations
Estimated Number of Respondents/Recordkeepers: 901,400
Estimated Burden Hours Per Respondent/Recordkeeper:

----------------------------------------------------------------------------------------------------------------
                                                                                                   Copying,     
                                                  Learning about the                           assembling, and  
                              Recordkeeping        law or the form      Preparing the form   sending the form to
                                                                                                   the IRS      
----------------------------------------------------------------------------------------------------------------
Form 5500 (initial         87 hours, 46 minutes  9 hours, 32 minutes.  14 hours, 11 minutes  48 minutes.        
 filers).                                                                                                       
Form 5500 (all other       82 hours, 16 minutes  9 hours, 32 minutes.  14 hours, 6 minutes.  48 minutes.        
 filers).                                                                                                       
Schedule A (Form 5500)...  17 hours, 28 minutes  28 minutes..........  1 hour, 42 minutes..  16 minutes.        
Schedule B (Form 5500)...  34 hours, 41 minutes  2 hours, 47 minutes.  3 hours, 28 minutes.  ...................
Schedule C (Form 5500)...  5 hours, 16 minutes.  18 minutes..........  23 minutes..........  ...................
Schedule E (Form 5500)     1 hour, 12 minutes..  12 minutes..........  13 minutes..........  ...................
 (Nonleveraged ESOP).                                                                                           
Schedule E (Form 5500)     10 hours, 2 minutes.  1 hour, 41 minutes..  1 hour, 56 minutes..  ...................
 (Leveraged ESOP) Loans.                                                                                        
Schedule F (Form 5500)...  2 hours, 52 minutes.  24 minutes..........  28 minutes..........  ...................
Schedule G (Form 5500)...  15 hours, 4 minutes.  6 minutes...........  21 minutes..........  ...................
Schedule P (Form 5500)...  1 hour, 55 minutes..  30 minutes..........  33 minutes..........  ...................
Schedule SSA (Form 5500).  6 hours, 42 minutes.  12 minutes..........  19 minutes..........  ...................
----------------------------------------------------------------------------------------------------------------

Frequency of Response: Annually
Estimated Total Reporting/Recordkeeping Burden: 33,823,500 hours
Clearance Officer: Garrick Shear (202) 622-3869, Internal Revenue 
Service, Room 5571, 1111 Constitution Avenue, N.W. Washington, DC 20224
OMB Reviewer: Milo Sunderhauf (202) 395-7340 Office of Management and 
Budget Room 10226, New Executive Office Building, Washington, DC 20503.
Lois K. Holland,
Departmental Reports, Management Officer.
[FR Doc. 94-22109 Filed 9-7-94; 8:45 am]
BILLING CODE 4830-01-P