[Federal Register Volume 88, Number 47 (Friday, March 10, 2023)]
[Notices]
[Pages 15121-15122]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-04930]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Annual Return/Report of Employee Benefit Plan

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

ACTION: Notice.

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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 the Annual Return/
Report of Employee Benefit Plan.

DATES: Comments should be received on or before April 10, 2023 to be 
assured of consideration.

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. Copies of 
the submissions may be obtained from Melody Braswell by emailing 
[email protected], calling (202) 622-1035, or viewing the entire 
information collection request at www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 

Internal Revenue Service (IRS)

    Title: Annual Return/Report of Employee Benefit Plan.
    OMB Control Number: 1545-1610.
    Form Number: 5500 and associated Schedules, and 5558.
    Abstract: The Annual Return/Report of Employee Benefit Plan is an 
annual information return filed by employee benefit plans. The IRS uses 
this information for a variety of matters, including ascertainment 
whether a qualified retirement plan appears to conform to requirements 
under the Internal Revenue Code or whether the plan should be audited 
for compliance. Form 5500-EZ is an annual return filed by a one 
participant (owners/partners and their spouses) retirement plan or a 
foreign plan to satisfy certain annual reporting and filing 
requirements imposed by the Internal Revenue Code (Code). Form 5558 
will be used by the IRS to grant extension request for filing the 5500 
series and the 8955-SSA forms. The IRS uses this data to

[[Page 15122]]

determine if the plan appears to be operating properly as required 
under the Code or whether the plan should be audited.
    Current Actions: IRS is adding Form 5558 to the OMB approval for 
1545-1610. Additionally, IRS is making the following revisions to the 
Form 5558 to allow for electronic filing with the Department of Labor's 
(DOL) ERISA Filing Acceptance System (EFAST2).
    Currently, Form 5558 is used by a filer to request an extension of 
time to file Form 5500 series, Form 8955-SSA as well as the Form 5330, 
Return of Excise Taxes Related to Employee Benefit Plans. Form 5558 
does not extend the time to pay the excise taxes. Any tax due for Form 
5330 filers must be paid with Form 5558 for the application for an 
extension of time to file Form 5330.
    The DOL EFAST2 system will not take the IRS tax payment. Thus, the 
IRS will revise Form 5558 to remove the items about the extension of 
time to file Form 5330. This will allow DOL to electronically collect 
the form. The Form 5558 will be used to solely request extensions on 
the Form 5500 series and Form 8955-SSA. The payment information from 
Form 5558 will be incorporated into Form 8868. The Form 8868 will be 
revised to allow extensions for Form 5330 and payment of excise tax 
due. Form 8868 will only allow for the extension to file, and will not 
extend the payment of the excise tax. The pension plan burden for the 
Form 8868 revision will be covered under 1545-0575.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations, 
individuals and households, not-for profit institutions, and farms.
    Estimated Total Number of Respondents: 1,471,958.
    Estimated Total Number of Responses: 1,471,958.
    Estimated Total Frequency of Response: 1.
    Estimated Total Average of Hours per Response: 2.4.
    Estimated Total Annual Burden Hours: 2,138,922.
    Authority: 44 U.S.C. 3501 et seq.

Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2023-04930 Filed 3-9-23; 8:45 am]
BILLING CODE 4830-01-P