[Federal Register Volume 75, Number 189 (Thursday, September 30, 2010)]
[Notices]
[Pages 60508-60509]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-24489]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[EE-43-92]


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, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning an 
existing final regulation, EE-43-92 (TD 8619), Direct Rollovers and 20-
Percent Withholding Upon Eligible Rollover Distributions From Qualified 
Plans (Sec. Sec.  1.401(a)(31)-1, 1.402(c)-2, 1.402(f)-1, 1.403(b)-2, 
and 31.3405(c)-1.

DATES: Written comments should be received on or before November 29, 
2010 to be assured of consideration.

ADDRESSES: Direct all written comments to Gerald Shields, Internal 
Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the regulation should be directed to Allan Hopkins, at (202) 
622-6665, or at Internal Revenue Service, room 6129, 1111 Constitution 
Avenue,

[[Page 60509]]

NW., Washington, DC 20224, or through the Internet, at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Direct Rollovers and 20-Percent Withholding Upon Eligible 
Rollover Distributions From Qualified Plans.
    OMB Number: 1545-1341.
    Regulation Project Number: EE-43-92.
    Abstract: This regulation implements the provisions of the 
Unemployment Compensation Amendments of 1992 (Pub. L. 102-318), which 
impose mandatory 20 percent income tax withholding upon the taxable 
portion of certain distributions from a qualified pension plan or a 
tax-sheltered annuity that can be rolled over tax-free to another 
eligible retirement plan unless such amounts are transferred directly 
to such other plan in a ``direct rollover'' transaction. These 
provisions also require qualified pension plans and tax-sheltered 
annuities to offer their participants the option to elect to make 
``direct rollovers'' of their distributions and to provide distributees 
with a written explanation of the tax laws regarding their 
distributions and their option to elect such a rollover.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals, business or other for-profit 
organizations, not-for-profit institutions, and Federal, state, local 
or tribal governments.
    Estimated Number of Respondents: 10,323,926.
    Estimated Time Per Respondent: 13 minutes.
    Estimated Total Annual Burden Hours: 2,129,669.
    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: August 24, 2010.
Gerald Shields,
Supervisory Tax Analyst.
[FR Doc. 2010-24489 Filed 9-29-10; 8:45 am]
BILLING CODE 4830-01-P