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Federal forms, ICRs, and supporting documents

Information Collection Request

Notice 2007-XX, Transition Relief and Guidance on Corrections of Certain Failures of a Nonqualified Deferred Compensation Plan to comply with § 409A(a) in Operation

ICR 200711-1545-005 · OMB 1545-2086 · Historical Active

Forms and Documents
DocumentTypeStatusAvailability
No forms / supporting documents in this ICR. Check IC Document Collections.
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IC IDCollectionTypeStatusForm
182588 Notice 2007-XX, Transition Relief and Guidance on Corrections of Certain Failures of a Nonqualified Deferred Compensation Plan to comply with § 409A(a) in Operation New
ICR Details
1545-2086 200711-1545-005
Historical Active
TREAS/IRS ah-XXXX-005
Notice 2007-XX, Transition Relief and Guidance on Corrections of Certain Failures of a Nonqualified Deferred Compensation Plan to comply with § 409A(a) in Operation
New collection (Request for a new OMB Control Number)   No
Emergency 11/06/2007
Approved without change 11/16/2007
Retrieve Notice of Action (NOA) 11/05/2007
  Inventory as of this Action Requested Previously Approved
05/31/2008 6 Months From Approved
10,000 0 0
5,000 0 0
0 0 0
This Notice sets forth the procedures to be followed by service recipients and service provides in order to correct certain operational failures of a nonqualified deferred compensation plan to comply with § 409A(a). It also describes the types of operational failures that can be corrected under the Notice.
Request is being made on an emergency basis for approval of the information filing required by Notice 2007-XX in order to avoid unnecessary taxpayer harm and tax burden. Failure to provide approval would cause taxpayers who have experienced an inadvertent operational error in administering their nonqualified deferred compensation plans in 2007 to be immediately liable for income tax on the amount involved, plus an additional 20 percent tax. Notice 2007-XX permits the taxpayer to correct unintentional operational errors, provided they comply will all of the requirements of the notice including the preparation and filing of the information statement as described in Section IV of the notice.
US Code: 26 USC 409A(a) Name of Law: Rules relating to constructive receipt.
  
None
Not associated with rulemaking
Other Documents for OIRA Review
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 10,000 0 0 10,000 0 0
Annual Time Burden (Hours) 5,000 0 0 5,000 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Miscellaneous Actions
No
This is a new collection.
$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected
William Schmidt 2026224304
  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.
11/05/2007