[Federal Register Volume 69, Number 163 (Tuesday, August 24, 2004)]
[Notices]
[Pages 52033-52034]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-19315]


-----------------------------------------------------------------------

DEPARTMENT OF LABOR

Employee Benefits Security Administration


Proposed Extension of Information Collection Request Submitted 
for Public Comment; Proposed Extension of Information Collection; 
Comment Request; Form 5500 Annual Return/Report of Employee Benefit 
Plan

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Department of Labor, as part of its continuing effort to 
reduce paperwork and respondent burden, conducts a preclearance 
consultation program to provide the general public and 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). This program helps to ensure that requested data can be 
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. Currently, the Employee Benefits Security 
Administration (EBSA) is soliciting comments on the proposed extension 
of Form 5500 Annual Return/Report of Employee Benefit Plan. The 
Internal Revenue Service (IRS) published its preclearance notice 
related to the Form 5500 and schedules on April 8, 2004 (69 FR 18681).
    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. Although the 2004 Form 5500 is not yet available, it is 
not expected at this time to differ materially from the 2003 Form 5500.
    Informational copies of the 2004 Form 5500 and schedules, as well 
as the 2004 Form 5500 and schedules when they are finalized, are 
available for downloading and viewing on the EFAST Web site: http://www.efast.dol.gov. Official hand print forms are also made available as 
part of the annual mailing of the Form 5500 package. The hand print 
forms, schedules and instructions are available by calling: 1-800-TAX-
FORM (1-800-829-3676).

DATES: Written comments must be submitted to the office listed in the 
addresses section below on or before October 25, 2004.

ADDRESSES: Interested parties are invited to submit written comments 
regarding the collection of information. Send comments to Mr. Gerald B. 
Lindrew, Office of Policy and Research, U.S. Department of Labor, 
Employee Benefits Security Administration, 200 Constitution Avenue, 
NW., Room N-5647, Washington, DC 20210. Telephone: (202) 693-8410 Fax: 
(202) 693-4745 (These are not toll-free numbers). All comments will be 
shared between the Agencies.

SUPPLEMENTARY INFORMATION:

I. Background

    Under Titles I and IV of the Employee Retirement Income Security 
Act of 1974, as amended (ERISA), and the Internal Revenue Code of 1986, 
as amended (the Code), pension and other employee benefit plans are 
generally required to file annual returns/reports concerning, among 
other things, the financial condition and operations of the plan. These 
annual reporting requirements can be satisfied by filing the Form 5500 
in accordance with its instructions and related regulations. The Form 
5500 is the primary source of information concerning the operation, 
funding, assets and investments of pension and other employee benefit 
plans. In addition to being an important disclosure document for plan 
participants and beneficiaries, the Form 5500 is a compliance and 
research tool for EBSA, the Pension Benefit Guarantee Corporation 
(PBGC), and the IRS, and a source of information for other federal 
agencies, Congress, and the private sector for use in assessing 
employee benefit, tax, and economic trends and policies.
    The 1999 and later Forms 5500 are available in two different 
formats. Both have the same data elements, but provide filers with a 
choice of formats for preparing the form. The formats are referred to 
as ``machine print'' and ``hand print.'' EFAST, the computerized system 
for processing the Form 5500, is designed to accept only approved 
machine print and hand print forms. Several vendors offer EFAST-
approved computer software that may be used to complete the 2000 and 
later versions of either the machine print or the hand print Form 5500. 
Filers completing the Form 5500 by hand or typewriter must use the 
official government-produced hand print forms because the EFAST system 
uses optical character recognition technology to scan the data

[[Page 52034]]

entries on the specially designed forms that enable the computer to 
read the forms.
    The hand print forms can be filed only on paper by mail or approved 
private delivery services. The machine print forms may be printed out 
and filed on paper by mail or approved private delivery service, 
transmitted on-line via modem, or transferred to floppy disks, tapes, 
or CD-ROMs and filed via mail or approved private delivery service. 
Electronic filers submitting via modem must use approved EFAST 
transmitters. Additional information concerning EFAST filing 
requirements may be found on the EFAST website, or by calling 1-866-
463-3278 Monday through Friday from 8 a.m. to 8 p.m. Eastern Time.

II. Review Focus

    The Department of Labor (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 agency, 
including whether the information will have practical utility;
     Evaluate the accuracy of the agency's 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; and
     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 submissions of responses.

III. Current Actions

    The Agencies intend to request an extension of the currently 
approved ICR. Although the 2004 Form 5500 Series is not yet available, 
the Agencies will not be making program changes that would be material 
for purposes of this ICR.
    Agency: Department of Labor, Employee Benefits Security 
Administration.
    Title: Form 5500 Annual Return/Report of Employee Benefit Plan.
    Type of Review: Extension of currently approved collections.
    OMB Numbers: 1210-0110 (EBSA).
    Affected Public: Individuals or households; business or other for-
profit; not-for-profit institutions.
    Form Number: Form 5500.
    Total Respondents: 863,682.
    Total Responses: 863,682.
    Frequency of Response: Annually.
    Estimated Burden Hours: 1,847,163 for EBSA.
    Estimated Burden Cost (Operating and Maintenance): $546,789,000 for 
EBSA.
    Comments submitted in response to this request will be summarized 
and/or included in the request for Office of Management and Budget 
approval of the information collection request; they will also become a 
matter of public record.

    Dated: August 18, 2004.
Joseph Piacentini,
Acting Director, Office of Policy and Research, Employee Benefits 
Security Administration.
[FR Doc. 04-19315 Filed 8-23-04; 8:45 am]
BILLING CODE 4510-29-M