[Federal Register Volume 81, Number 218 (Thursday, November 10, 2016)]
[Notices]
[Pages 79096-79097]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-27100]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Revenue Procedure 2016-
47

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 
Revenue Procedure 2016-47, Waiver of 60-Day Rollover Requirement.

DATES: Written comments should be received on or before January 9, 2017 
to be assured of consideration.

ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the revenue procedure should be directed to Kerry Dennis, at 
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., 
Washington DC 20224, or through the Internet, at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Waiver of 60-Day Rollover Requirement.
    OMB Number: 1545-2269.
    Revenue Procedure Number: Revenue Procedure 2016-47.
    Abstract: Revenue Procedure 2016-47 describes a program for self-
certification by taxpayers who missed the 60-day statutory requirement 
for making a rollover contribution to a qualified plan or individual 
retirement arrangement (IRA). Upon receipt of a self-certification, a 
plan administrator of IRA trustee may accept the contribution and treat 
it as having satisfied the requirements for a waiver of the 60-day 
requirement. Currently, the only way for a taxpayer to obtain a waiver 
of the 60-day requirement is to apply to the Internal Revenue Service 
(IRS) for a favorable ruling, which is issued by the Tax Exempt and 
Government Entities Division (TE/GE). The fee for a ruling is $10,000. 
The program outlined in this revenue procedure permits taxpayers to 
receive the benefits of a waiver without paying a user fee.
    Current Actions: Extension of a currently approved collection.
    Affected Public: Individuals or Households.
    Estimated Number of Respondents: 150.
    Estimated Time per Respondent: 3 hours.
    Estimated Total Annual Burden Hours: 450.
    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

[[Page 79097]]

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 27, 2016.
Tuawana Pinkston,
IRS Reports Clearance Officer.
[FR Doc. 2016-27100 Filed 11-9-16; 8:45 am]
 BILLING CODE 4830-01-P