[Federal Register Volume 86, Number 248 (Thursday, December 30, 2021)]
[Notices]
[Pages 74430-74431]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-28372]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Requesting Comments on Notice 2021-57

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 Notice 2021-57, Funding relief for multiemployer defined 
benefit pension plans under the American Rescue Plan Act of 2021.

DATES: Written comments should be received on or before February 28, 
2022 to be assured of consideration.

ADDRESSES: Direct all written comments to Andres Garcia, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 
20224. You must reference the information collection's title, form 
number, reporting or record-keeping requirement number, and OMB number 
in your comment.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the notice should be directed to Jon Callahan, (737) 800-
7639, at Internal Revenue Service, Room 6526, 1111 Constitution Avenue 
NW, Washington, DC 20224, or through the internet at 
[email protected].

SUPPLEMENTARY INFORMATION:
    The IRS is currently seeking comments concerning the following 
information collection tools, reporting, and record-keeping 
requirements:
    Title: Funding relief for multiemployer defined benefit pension 
plans under the American Rescue Plan Act of 2021.
    OMB Number: 1545-2300.
    Notice Number: 2021-57.
    Abstract: The American Rescue Plan Act of 2021 (ARP), P.L. 117-2, 
sections 9701, 9702, and 9703 provide elective funding relief for 
multiemployer defined benefit pension plans to address the continued 
impact of COVID-19. This notice provides guidance for sponsors of 
multiemployer defined benefit pension plans on the elections under 
sections 9701 and 9702 of the ARP Act, and the relief provided under 
section 9703 of the ARP Act, relating to Internal Revenue Code (IRC) 
sections 431 and 432.
    Current Actions: There is no change to the existing collection.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, and 
not-for-profit institutions.
    Estimated Number of Responses: 937.
    Estimated Time per Respondent: 58 minutes.
    Estimated Total Annual Burden Hours: 896.
    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:

[[Page 74431]]

(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: December 27, 2021.
Jon R. Callahan,
Tax Analyst.
[FR Doc. 2021-28372 Filed 12-29-21; 8:45 am]
BILLING CODE 4830-01-P