[Federal Register Volume 79, Number 239 (Friday, December 12, 2014)]
[Notices]
[Pages 73950-73951]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-29095]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

December 8, 2014.
    The Department of the Treasury will submit the following 
information collection request to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, Public Law 104-13, on or after the date of 
publication of this notice.

DATES: Comments should be received on or before January 12, 2015 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimate, or any other 
aspect of the information collection, including suggestion for reducing 
the burden, to (1) Office of Information and Regulatory Affairs, Office 
of Management and Budget, Attention: Desk Officer for Treasury, New 
Executive Office Building, Room 10235, Washington, DC 20503, or email 
at [email protected] and (2) Treasury PRA Clearance Officer, 
1750 Pennsylvania Ave. NW., Suite 8140, Washington, DC 20220, or email 
at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submission(s) may be 
obtained by calling (202) 927-5331, email at [email protected], or the 
entire information collection request maybe found at www.reginfo.gov.

Departmental Offices (DO)

    OMB Number: 1505-XXXX.
    Type of Review: New Collection.
    Title: Retirement Savings Module of the Household Financial Survey.
    Abstract: The Treasury Department is seeking OMB approval for an 
information collection to inform its administration of a new federal 
program being launched this year that aims to enable more low- and 
moderate-income individuals to save for retirement.
    As part of its work to launch the program, Treasury is exploring 
several approaches for enabling eligible individuals to open and put 
savings into the retirement accounts, including the option of 
encouraging individuals to open and fund the accounts when they file 
their federal tax forms. The Department contracted with the Center for 
Social Development (CSD) at Washington University in St. Louis to 
assist with research on this topic. CSD currently administers an annual 
privately-funded survey, the Household Financial Survey (HFS), through 
which it gathers savings information from low- to moderate-income tax 
filers immediately after they have filed their tax forms. This national 
survey is integrated into the no-cost version of Intuit's TurboTax tax 
preparation software, and it reaches a significant sample of people who 
could be eligible for the accounts.
    Starting in the 2015 tax filing season, CSD will add a Treasury-
funded Retirement Savings Module to the 2015 HFS survey. The module 
will consist of a series of questions focused on individuals' current 
retirement savings goals, practices, and attitudes surrounding 
retirement, along with questions designed to glean insights on the 
potential demand for the new retirement savings accounts, such as what 
aspects of the program would be desirable to low- to moderate income 
consumers, and whether these taxpayers may be interested in opening an 
account at tax time.
    The 2015 iteration of the HFS survey will be administered 
throughout the tax-filing season (January through April 2015). The HFS 
survey is distributed electronically and takes approximately 20 minutes 
to complete. The Treasury-funded Retirement Savings Module, which will 
be added for the first time to the 2015 HFS, is intended to take less 
than 10 minutes (approximately \1/2\ of the time needed to complete the 
overall survey). Participants will be invited to complete the survey 
when they file their federal income taxes. Participation in the survey 
will be voluntary.
    The information collected through the Treasury-funded Retirement 
Savings Module of the HFS will provide baseline characteristics, needs, 
and practices of a segment of the population targeted by the federal 
program.
    Affected Public: Individuals.

[[Page 73951]]

    Estimated Total Burden Hours: 1,333.

Robert Dahl,
Treasury PRA Clearance Officer.
[FR Doc. 2014-29095 Filed 12-11-14; 8:45 am]
BILLING CODE 4810-25-P