[Federal Register Volume 84, Number 161 (Tuesday, August 20, 2019)] [Notices] [Pages 43161-43162] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 2019-17831] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF LABOR Office of the Secretary Agency Information Collection Activities; Submission for OMB Review; Comment Request; Prohibited Transaction Class Exemption 1988- 59, Residential Mortgage Financing Arrangements Involving Employee Benefit Plans ACTION: Notice of availability; request for comments. ----------------------------------------------------------------------- SUMMARY: The Department of Labor (DOL) is submitting the Employee Benefits Security Administration (EBSA) sponsored information collection request (ICR) titled, ``Prohibited Transaction Class Exemption 1988-59, Residential Mortgage Financing Arrangements Involving Employee Benefit Plans,'' to the Office of Management and Budget (OMB) for review and approval for continued use, without change, in accordance with the Paperwork Reduction Act of 1995 (PRA). Public comments on the ICR are invited. DATES: The OMB will consider all written comments that agency receives on or before September 19, 2019. ADDRESSES: A copy of this ICR with applicable supporting documentation; including a description of the likely respondents, proposed frequency of response, and estimated total burden may be obtained free of charge from the RegInfo.gov website at http://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=201906-1210-001 (this link will only become active on the day following publication of this notice) or by contacting Frederick Licari by telephone at 202-693-8073 TTY 202-693-8064, (these are not toll-free numbers) or by email at [email protected]. Submit comments about this request by mail to the Office of Information and Regulatory Affairs, Attn: OMB Desk Officer for DOL- EBSA, Office of [[Page 43162]] Management and Budget, Room 10235, 725 17th Street NW, Washington, DC 20503; by Fax: 202-395-5806 (this is not a toll-free number); or by email: [email protected]. Commenters are encouraged, but not required, to send a courtesy copy of any comments by mail or courier to the U.S. Department of Labor--OASAM, Office of the Chief Information Officer, Attn: Departmental Information Compliance Management Program, Room N1301, 200 Constitution Avenue NW, Washington, DC 20210; or by email: [email protected]. FOR FURTHER INFORMATION CONTACT: Frederick Licari by telephone at 202- 693-8073, TTY 202-693-8064, (these are not toll-free numbers) or by email at [email protected]. SUPPLEMENTARY INFORMATION: This ICR seeks to extend PRA authority for the Prohibited Transaction Class Exemption 1988-59, Residential Mortgage Financing Arrangements Involving Employee Benefit Plans information collection. Section 408(a) of ERISA authorizes the Secretary of Labor ``to grant a conditional or unconditional exemption of any fiduciary or class of fiduciaries or transactions, from all or part of the restrictions imposed by section 406 and 407(a).'' Among other conditions, the exemption requires a plan to maintain for the duration of any loan made pursuant to this exemption all records necessary to determine whether conditions of the exemption have been met and to make such records available for examination on request by any trustee, investment manager, participant or beneficiary of the plan, or agents of the Department or the IRS. Section 408(a) 406 and 407(a) authorizes this information collection. See 29 U.S.C. 1108. This information collection is subject to the PRA. A Federal agency generally cannot conduct or sponsor a collection of information, and the public is generally not required to respond to an information collection, unless it is approved by the OMB under the PRA and displays a currently valid OMB Control Number. In addition, notwithstanding any other provisions of law, no person shall generally be subject to penalty for failing to comply with a collection of information that does not display a valid Control Number. See 5 CFR 1320.5(a) and 1320.6. The DOL obtains OMB approval for this information collection under Control Number 1210-0095. OMB authorization for an ICR cannot be for more than three (3) years without renewal, and the current approval for this collection is scheduled to expire on August 31, 2019. The DOL seeks to extend PRA authorization for this information collection for three (3) more years, without any change to existing requirements. The DOL notes that existing information collection requirements submitted to the OMB receive a month-to-month extension while they undergo review. For additional substantive information about this ICR, see the related notice published in the Federal Register on March 27, 2019 (84 FR 11573). Interested parties are encouraged to send comments to the OMB, Office of Information and Regulatory Affairs at the address shown in the ADDRESSES section within thirty (30) days of publication of this notice in the Federal Register. In order to help ensure appropriate consideration, comments should mention OMB Control Number 1210-0095. The OMB is particularly interested in comments that:Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; Evaluate the accuracy of the agency's estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used; Enhance the quality, utility, and clarity of the information to be collected; and Minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., permitting electronic submission of responses. Agency: DOL-EBSA. Title of Collection: Prohibited Transaction Class Exemption 1988- 59, Residential Mortgage Financing Arrangements Involving Employee Benefit Plans. OMB Control Number: 1210-0095. Affected Public: Private Sector, businesses or other for-profit non-for-profit institutions. Total Estimated Number of Respondents: 2,192. Total Estimated Number of Responses: 10,960. Total Estimated Annual Time Burden: 913 hours. Total Estimated Annual Other Costs Burden: $0. Authority: 44 U.S.C. 3507(a)(1)(D). Dated: August 14, 2019. Frederick Licari, Departmental Clearance Officer. [FR Doc. 2019-17831 Filed 8-19-19; 8:45 am] BILLING CODE 4510-29-P