[Federal Register Volume 67, Number 202 (Friday, October 18, 2002)]
[Notices]
[Pages 64448-64449]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-26610]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[EE-147-87]


Proposed Collection; Comment Request for Regulation Project

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, Pub. L. 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning an 
existing final regulation, EE-147-87 (TD 8376), Qualified Separate 
Lines of Business (Sec. Sec.  1.414(r)-3, 1.414(r)-4, and 1.414(r)-6).

DATES: Written comments should be received on or before December 17, 
2002 to be assured of consideration.

ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal 
Revenue Service, room 6411, 1111 Constitution Avenue, NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of regulations should be directed to Carol Savage, (202) 622-
3945, or through the internet ([email protected].), Internal 
Revenue Service, room 6407, 1111 Constitution Avenue, NW., Washington, 
DC 20224.

SUPPLEMENTARY INFORMATION:
    Title: Qualified Separate Lines of Business.
    OMB Number: 1545-1221.
    Regulation Project Number: EE-147-87.
    Abstract: Section 414(r) of the Internal Revenue Code requires that 
employers who wish to test their qualified retirement plans on a 
separate line of business basis, rather than on a controlled group 
basis, provide notice to the IRS that the employer treats itself as 
operating qualified separate lines of business. Additionally, an 
employer may request an IRS determination that such lines satisfy 
administrative scrutiny. This regulation elaborates on the notice 
requirement and the determination process.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 253.
    Estimated Time Per Respondent: 3 hours, 27 minutes.
    Estimated Total Annual Burden Hours: 899.
    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

[[Page 64449]]

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: October 15, 2002.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. 02-26610 Filed 10-17-02; 8:45 am]
BILLING CODE 4830-01-P