[Federal Register Volume 86, Number 178 (Friday, September 17, 2021)]
[Notices]
[Page 51955]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-20070]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8881

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. The IRS is soliciting comments 
concerning Form 8881, Credit for Small Employer Pension Plan Startup 
Costs.

DATES: Written comments should be received on or before November 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 form and instructions should be directed to LaNita Van 
Dyke, (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: Credit for Small Employer Pension Plan Startup Costs.
    OMB Number: 1545-1810.
    Form Number: 8881.
    Abstract: Qualified small employers use Form 8881 to claim a credit 
for start up costs related to eligible retirement plans. Form 8881 
implements section 45E, which provides a credit based on costs incurred 
by an employer in establishing or administering an eligible employer 
plan or for the retirement-related education of employees with respect 
to the plan. The credit is 50% of the qualified costs for the tax year, 
up to a maximum credit of $500 for the first tax year and each of the 
two subsequent tax years.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 66,667.
    Estimated Time per Respondent: 3 hours, 32 minutes.
    Estimated Total Annual Burden Hours: 235,335.
    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. 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: August 26, 2021.
Chakinna B. Clemons,
Supervisory Tax Analyst.
[FR Doc. 2021-20070 Filed 9-16-21; 8:45 am]
BILLING CODE 4830-01-P