[Federal Register Volume 85, Number 241 (Tuesday, December 15, 2020)]
[Notices]
[Page 81285]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-27553]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Forms 5498-QA & 1099-QA

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Internal Revenue Service (IRS), 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 information collections, as required by the Paperwork Reduction Act 
of 1995. The IRS is soliciting comments concerning ABLE Account 
Contribution Information; Distributions From ABLE Accounts.

DATES: Written comments should be received on or before February 16, 
2021 to be assured of consideration.

ADDRESSES: Direct all written comments to Kinna Brewington, 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 and instructions should be directed to Martha R. 
Brinson, at (202) 317-5753, or at Internal Revenue Service, Room 6526, 
1111 Constitution Avenue NW, Washington, DC 20224, or through the 
internet at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: ABLE Account Contribution Information; Distributions From 
ABLE Accounts.
    OMB Number: 1545-2262.
    Form Numbers: 5498-QA; 1099-QA.
    Abstract: Public Law 113-295, ABLE Act of 2014, granted States, 
agencies and/or their instrumentalities the authority to allow for the 
establishment of special accounts that allow individuals and families 
to set aside money for the purpose of supporting individuals with 
disabilities to maintain health, independence, and quality of life, 
without impacting eligibility for other social service financial 
assistance programs such as Medicaid. Form 5498-QA is used to report to 
the beneficiaries the contributions, rollovers, and program to program 
transfers associated with these accounts. Form 1099-QA allows these 
individuals and families to draw from the special account.
    Current Actions: There are no changes being made to the forms at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.

Form 5498-QA

    Estimated Number of Responses: 10,000.
    Estimated Time per Respondent: 11 min.
    Estimated Total Annual Burden Hours: 1,900.

Form 1099-QA

    Estimated Number of Responses: 10,000.
    Estimated Time per Respondent: 10 min.
    Estimated Total Annual Burden Hours: 1,700.
    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. 
Comments will be 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 has 
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 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: December 10, 2020.
Martha R. Brinson,
Tax Analyst.
[FR Doc. 2020-27553 Filed 12-14-20; 8:45 am]
BILLING CODE 4830-01-P