[Federal Register Volume 86, Number 172 (Thursday, September 9, 2021)]
[Notices]
[Pages 50594-50595]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-19424]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Waiver of 60-Day Rollover Requirement

AGENCY: Departmental Offices, U.S. Department of the Treasury.

ACTION: Notice.

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SUMMARY: The Department of the Treasury will submit the following 
information collection request to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, on or after the date of publication of this 
notice. The public is invited to submit comments on these requests.

DATES: Comments must be received on or before October 12, 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.

[[Page 50595]]


FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained from Molly Stasko by emailing [email protected], calling (202) 
622-8922, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION:

Internal Revenue Service (IRS)

    Title: Waiver of 60-Day Rollover Requirement.
    OMB Control Number: 1545-2269.
    Type of Review: Reinstatement without change of a currently 
approved collection.
    Description: Revenue Procedure 2020-46 modifies and updates Rev. 
Proc. 2016-47, 2016-37 I.R.B. 346. Section 3.02(2) of Rev. Proc. 2016-
47 provides a list of permissible reasons for self-certification of 
eligibility for a waiver of the 60-day rollover requirement, and, in 
response to requests from stakeholders, this revenue procedure modifies 
that list by adding a new reason: A distribution was made to a state 
unclaimed property fund. As under Rev. Proc. 2016-47, a self-
certification relates only to the reasons for missing the 60-day 
deadline, not to whether a distribution is otherwise eligible to be 
rolled over. An appendix contains a model letter that may be used for 
self-certification.
    Upon receipt of a self-certification, a plan administrator or 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 
with respect to an amount distributed to a state unclaimed property 
fund 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 user 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.
    Revenue Procedure Number: 2020-46.
    Affected Public: Individuals or Households.
    Estimated Number of Respondents: 160.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 160.
    Estimated Time per Response: 3 hours.
    Estimated Total Annual Burden Hours: 480 hours.
    Authority: 44 U.S.C. 3501 et seq.

    Dated: September 2, 2021.
Molly Stasko,
Treasury PRA Clearance Officer.
[FR Doc. 2021-19424 Filed 9-8-21; 8:45 am]
BILLING CODE 4830-01-P