[Federal Register Volume 70, Number 136 (Monday, July 18, 2005)]
[Notices]
[Page 41259]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-3784]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Notice 2005-40

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 
Notice 2005-40, Election to Defer Net Experience Loss in a 
Multiemployer Plan.

DATES: Written comments should be received on or before September 16, 
2005 to be assured of consideration.

ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal 
Revenue Service, room 6516, 1111 Constitution Avenue, NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of, notice should be directed to Allan Hopkins, at (202) 622-
6665, or at Internal Revenue Service, room 6516, 1111 Constitution 
Avenue, NW., Washington, DC 20224, or through the Internet, at 
[email protected].

SUPPLEMENTARY INFORMATION:
    Title: Election to Defer Net Experience Loss in a Multiemployer 
Plan.
    OMB Number: 1545-1935.
    Notice Number: Notice 2005-40.
    Abstract: This notice describes the election that must be filed by 
an eligible multiemployer plan's enrolled actuary to the Service in 
order to defer a net experience loss. The notice also describes the 
notification that must be given to plan participants and beneficiaries, 
to labor organizations, to contributing employers and to the Pension 
Benefit Guaranty Corporation within 30 days of making an election with 
the Service and the certification that must be filed if a restricted 
amendment is adopted.
    Current Actions: There are no changes being made to the notice at 
this time.
    Type of Review: Extension of a currently approved new collection.
    Affected Public: Business or other for-profit organizations, and 
not-for-profit institutions.
    Estimated Number of Respondents: 12.
    Estimated Average Time per Respondent: 80 hours.
    Estimated Total Annual Burden Hours: 960.
    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: July 11, 2005.
Glenn Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E5-3784 Filed 7-15-05; 8:45 am]
BILLING CODE 4830-01-P