[Federal Register Volume 83, Number 234 (Thursday, December 6, 2018)]
[Notices]
[Pages 62956-62957]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-26470]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 5304-SIMPLE, Form
5305-SIMPLE, and Notice 98-4
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
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SUMMARY: The Internal Revenue Service, 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. Currently, the IRS is soliciting
comments concerning Form 5304-SIMPLE, Savings Incentive Match Plan for
Employees of Small Employers (SIMPLE)--Not for Use With a Designated
Financial Institution; Form 5305-SIMPLE, Savings Incentive Match Plan
for Employees of Small Employers (SIMPLE)--for Use With a Designated
Financial Institution; Notice 98-4, Simple IRA Plan Guidance
DATES: Written comments should be received on or before February 4,
2019 to be assured of consideration.
ADDRESSES: Direct all written comments to Laurie Brimmer, Internal
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC
20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the forms, instructions, and notice should be directed to
LaNita Van Dyke, at (202) 317-6009, at Internal Revenue Service, Room
6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the
internet at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Form 5304-SIMPLE, Savings Incentive Match Plan for Employees
of Small Employers (SIMPLE)--Not for Use With a Designated Financial
Institution, Form 5305-SIMPLE; Savings Incentive Match Plan for
Employees of Small Employers (SIMPLE)--for Use With a Designated
Financial Institution; SIMPLE IRA Plan Guidance(Notice 98-4).
OMB Number: 1545-1502.
Form Number: Form 5304-SIMPLE, Form 5305-SIMPLE, and Notice 98-4.
Abstract: Form 5304-SIMPLE is a model SIMPLE IRA agreement that was
created to be used by an employer to permit employees who are not using
a designated financial institution to make salary reduction
contributions to a SIMPLE IRA described in Internal Revenue Code
section 408(p). Form 5305-SIMPLE is also a model SIMPLE IRA agreement,
but it is for use with a designated financial institutions. Notice 98-4
provides guidance for employers and trustees regarding how they can
comply with the requirements of Code section 408(p) in establishing and
maintaining a SIMPLE IRA, including information regarding the
notification and reporting requirements under Code section 408.
Current Actions: There are no changes for the forms at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations not-
for-profit institutions, and individuals.
Estimated Number of Respondents: 600,000.
Estimated Time per Respondent: 3 hours, 31 minutes.
Estimated Total Annual Burden Hours: 2,113,000.
The following paragraph applies to all of the collections of
information covered by this notice:
[[Page 62957]]
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: November 26, 2018.
Laurie Brimmer,
Supervisory Tax Analyst.
[FR Doc. 2018-26470 Filed 12-4-18; 8:45 am]
BILLING CODE 4830-01-P