OMB.report

Federal forms, ICRs, and supporting documents

Information Collection Request

Notice 2006-xx - Diversification Requirements for Qualified Defined Contribution Plans Holding Publicly Traded Employer Securities.

ICR 200611-1545-015 · OMB 1545-2049 · Historical Active

Forms and Documents
DocumentTypeStatusAvailability
jct.x-38-06.HR4.507.and.901.rtf Supplementary Document Uploaded 2006-11-14 Available
notice2006-xx.11.08.doc Justification for No Material/Nonsubstantive Change Uploaded 2006-11-14 Available
OMB.notice2006-xx.PPA.901.ss.doc Supporting Statement A Uploaded 2006-11-14 Available
IC Document Collections
IC IDCollectionTypeStatusForm
46005 Notice 2006-xx - Diversification Requirements for Qualified Defined Contribution Plans Holding Publicly Traded Employer Securities. New
ICR Details
1545-2049 200611-1545-015
Historical Active
TREAS/IRS
Notice 2006-xx - Diversification Requirements for Qualified Defined Contribution Plans Holding Publicly Traded Employer Securities.
New collection (Request for a new OMB Control Number)   No
Emergency 11/30/2006
Approved without change 11/22/2006
Retrieve Notice of Action (NOA) 11/17/2006
  Inventory as of this Action Requested Previously Approved
05/31/2007 6 Months From Approved
4,542,300 0 0
7,725 0 0
0 0 0
This notice contains two model forms that may be used by employers to notify plan participants of their diversification rights under sections 901 and 507 of the Pension Protection Act of 2006.
Sections 507 and 901 of the Pension Protection Act of 2006, as enacted on August 18, 2006 and as effective for plan years beginning after December 31, 2006, require certain employers to give notice to their employee-participants of those employers defined contribution plans of the ability to divest their accounts of employer securities. Section 901 of the PPA’06 makes this a qualification requirement. While it is possible for the Service to provide model notices that may be used by almost all affected employers, the dissemination of these notices creates a paperwork burden on these employers. An emergency request for a valid OMB control number is necessitated in this instance as a result of the short time period between the date of enactment of the statutory provision and its effective date as well as after taking into consideration the time needed by the Service and the Treasury to identify the issues and provide meaningful responses.
US Code: 26 USC 401(a)(35) Name of Law: null
  
None
Not associated with rulemaking
No
  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 4,542,300 0 0 4,542,300 0 0
Annual Time Burden (Hours) 7,725 0 0 7,725 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Changing Regulations
No
This new notice provides transitional guidance on § 401(a)(35) of the Internal Revenue Code, added by section 901 of the Pension Protection Act of 2006, Public Law 109-280, 120 Stat. 780 (“PPA ’06”), which provides diversification rights with respect to publicly traded employer securities held by a defined contribution plan.
$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected
Robert Gertner 202 283-9622
  No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
11/17/2006