[Federal Register Volume 86, Number 22 (Thursday, February 4, 2021)]
[Notices]
[Pages 8221-8222]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-02326]


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DEPARTMENT OF LABOR


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Employee Retirement Income Security Act of 
1974 Prohibited Transaction Provisions Exemption Application Procedure

ACTION: Notice of availability; request for comments.

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SUMMARY: The Department of Labor (DOL) is submitting this EBSA-
sponsored information collection request (ICR) to the Office of 
Management and Budget (OMB) for review and approval 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 March 8, 2021.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
    Comments are invited on: (1) Whether the collection of information 
is necessary for the proper performance of the functions of the 
Department, including whether the information will have practical 
utility; (2) if the information will be processed and used in a timely 
manner; (3) the accuracy of the agency's estimates of the burden and 
cost of the collection of information, including the validity of the 
methodology and assumptions used; (4) ways to enhance the quality, 
utility and clarity of the information collection; and (5) ways to 
minimize the burden of the collection of information on those who are 
to respond, including the use of automated collection techniques or 
other forms of information technology.

FOR FURTHER INFORMATION CONTACT: Mara Blumenthal by telephone at 202-
693-8538, or by email at [email protected].

SUPPLEMENTARY INFORMATION: This information collection relates to the 
Department's regulation governing the procedure for filing and 
processing of applications for administrative exemptions from the 
prohibited transaction provisions of the Employee Retirement Income 
Security Act of 1974 (ERISA), the Internal Revenue Code of 1986 (the 
Code), and the Federal Employees' Retirement System Act of 1986 
(FERSA). The regulation contains the following collections of 
information: (1) An applicant for an exemption must disclose 
information regarding the application and certify that the information 
is necessary in order for the Department to make an informed 
determination regarding the application and (2) the applicant must 
distribute a notice to interested parties, in which participants and 
beneficiaries are informed of the application for exemption and have an 
opportunity to respond. For additional substantive information about 
this ICR, see the related notice published in the Federal Register on 
October 20, 2020 (85 FR 66580).
    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 the OMB approves it 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 
OMB Control Number. See 5 CFR 1320.5(a) and 1320.6.
    DOL seeks PRA authorization for this information collection for 
three (3)

[[Page 8222]]

years. OMB authorization for an ICR cannot be for more than three (3) 
years without renewal. The DOL notes that information collection 
requirements submitted to the OMB for existing ICRs receive a month-to-
month extension while they undergo review.
    Agency: DOL-EBSA.
    Title of Collection: Employee Retirement Income Security Act of 
1974 Section 408(a) Prohibited Transaction Provisions Exemption 
Application Procedure.
    OMB Control Number: 1210-0060.
    Affected Public: Private Sector--Businesses or other for-profits.
    Total Estimated Number of Respondents: 20.
    Total Estimated Number of Responses: 4,899.
    Total Estimated Annual Time Burden: 632 hours.
    Total Estimated Annual Other Costs Burden: $551,422.

    Authority: 44 U.S.C. 3507(a)(1)(D).

    Dated: January 28, 2021.
Mara Blumenthal,
Senior PRA Analyst.
[FR Doc. 2021-02326 Filed 2-3-21; 8:45 am]
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