[Federal Register Volume 65, Number 28 (Thursday, February 10, 2000)]
[Notices]
[Page 6692]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-2995]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 5304-SIMPLE, Form 
5305-SIMPLE, and Notice 98-4

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 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 
Form 5304-SIMPLE, Savings Incentive Match Plan for Employees of Small 
Employers (SIMPLE) (Not Subject to the Designated Financial Institution 
Rules), Form 5305-SIMPLE, Savings Incentive Match Plan for Employees of 
Small Employers (SIMPLE) (for Use With a Designated Financial 
Institution), and Notice 98-4, SIMPLE IRA Plan Guidance.

DATES: Written comments should be received on or before April 10, 2000 
to be assured of consideration.

ADDRESSES: Direct all written comments to Garrick R. Shear, Internal 
Revenue Service, room 5244, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the information collections should be directed to Martha R. 
Brinson, (202) 622-3869, Internal Revenue Service, room 5244, 1111 
Constitution Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:
    Title: Savings Incentive Match Plan for Employees of Small 
Employers (SIMPLE) (Not Subject to the Designated Financial Institution 
Rules) (Form 5304-SIMPLE); Savings Incentive Match Plan for Employees 
of Small Employers (SIMPLE) (for Use With a Designated Financial 
Institution) (Form 5305-SIMPLE); SIMPLE IRA Plan Guidance (Notice 98-
4).
    OMB Number: 1545-1502.
    Form Number: Form 5304-SIMPLE, Form 5305-SIMPLE, and Notice 98-4.
    Abstract: Form 5304-SIMPLE is a model SIMPLE IRA agreement that was 
created to be used by an employer to permit employees who are not using 
a designated financial institution to make salary reduction 
contributions to a SIMPLE IRA described in Internal Revenue Code 
section 408(p). Form 5305-SIMPLE is also a model SIMPLE IRA agreement, 
but it is for use with a designated financial institution. Notice 98-4 
provides guidance for employers and trustees regarding how they can 
comply with the requirements of Code section 408(p) in establishing and 
maintaining a SIMPLE IRA, including information regarding the 
notification and reporting requirements under Code section 408.
    Current Actions: There are no changes being made to the information 
collections at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, not-
for-profit institutions, and individuals.
    Estimated Number of Respondents: 600,000.
    Estimated Time Per Respondent: 3 hr., 33 min.
    Estimated Total Annual Burden Hours: 2,127,000.
    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: January 19, 2000.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 00-2995 Filed 2-9-00; 8:45 am]
BILLING CODE 4830-01-P