Form 5309 is used in conjunction with Form 5300 or Form 5303 when applying for a determination letter as to a deferred compensation plan's qualification status under section 409 or 4975(e)(7) of the Internal Revenue Code. The information is used to determine whether the plan qualifies.
US Code:
26 USC 4975(e)(7)
Name of Law: Employee stock ownership plan.
US Code:
26 USC 409
Name of Law: Qualifications for tax credit empoyee stock ownership plans.
Form 5309 is used in conjunction with Form 5300 or Form 5303 when applying for a determination letter as to a deferred compensation plan's qualification status under section 409 or 4975(e)(7) of the Internal Revenue Code.
All EP Determinations forms including Form 5309, are being standardized so they have the ability to go through the OCR process and captured into a virtual inventory system. This will have a positive effect to the users. These forms will now be fillable with specific guidelines for characters per line. This will assist in the completion of these forms. The result of these changes will result in a total burden decrease of 1,700 hours. Based on updated filing estimates we also increased the estimated number of responses by 2,038 and that resulted in a total burden increase of 23,375 hours.
$8,162
No
No
No
Uncollected
No
Uncollected
Esther Woodworth 202 622-3090
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.
Form 5309 Application for Determination of Employee Stock Ownership Plan
Summary of Changes.pdf
Application for Determination of Employee Stock Ownership Plan