[Federal Register Volume 89, Number 58 (Monday, March 25, 2024)]
[Notices]
[Page 20763]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-06180]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request Relating to Application for 
Determination of Employee Stock Ownership Plan (ESOP)

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 
continuing information collections, as required by the Paperwork 
Reduction Act of 1995. The IRS is soliciting comments concerning Form 
5309, Application for Determination of Employee Stock Ownership Plan 
(ESOP).

DATES: Written comments should be received on or before May 24, 2024 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 or by email to [email protected]. Please reference ``OMB 
Control Number 1545-0284'' in the subject line of the message.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form and instructions should be directed to Sara 
Covington, (202) 317-5744 at Internal Revenue Service, Room 6526, 1111 
Constitution Avenue NW, Washington, DC 20224, or through the internet 
at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Application for Determination of Employee Stock Ownership 
Plan (ESOP).
    OMB Number: 1545-0284.
    Form Number: 5309.
    Abstract: Internal Revenue Code section 404(a) allows employers an 
income tax deduction for contributions to their qualified deferred 
compensation plans. Form 5309 is used to request an IRS determination 
letter about whether the plan is qualified under Code section 409 or 
4975(e)(7).
    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: 3,655.
    Estimated Time per Respondent: 10 hrs., 47 minutes.
    Estimated Total Annual Burden Hours: 26,975.
    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: March 19, 2024.
Sara L. Covington,
IRS Tax Analyst.
[FR Doc. 2024-06180 Filed 3-22-24; 8:45 am]
BILLING CODE 4830-01-P