Application for Approval of Prototype or Employer Sponsored Individual Retirement Account

ICR 201008-1545-050 · OMB 1545-0390 · Historical Active

⚠️ Notice: This information collection may be outdated. More recent filings for OMB 1545-0390 can be found here:

Forms and Documents

Document	Type	Status	Availability
Form 5306 Application for Approval of Prototype or Employer Sponsored Individual Retirement Account	Form and Instruction	Modified	Available
Change Justification Statement.pdf	Justification for No Material/Nonsubstantive Change	Uploaded 2010-08-27	Repair queued

IC Document Collections

IC ID	Collection	Type	Status	Form
17235	Application for Approval of Prototype or Employer Sponsored Individual Retirement Account	Form and Instruction	Modified

ICR Details

OMB Control No: 1545-0390	ICR Reference No: 201008-1545-050
Status: Historical Active	Previous ICR Reference No: 200909-1545-004
Agency/Subagency: TREAS/IRS	Agency Tracking No: EC-1545-0390-050
Title: Application for Approval of Prototype or Employer Sponsored Individual Retirement Account
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 06/08/2011
Retrieve Notice of Action (NOA)	Date Received in OIRA: 04/13/2011
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2013	02/28/2013	02/28/2013
Responses	600	0	600
Time Burden (Hours)	8,244	0	7,878
Cost Burden (Dollars)	0	0	0

Abstract: This application is used by employers who want to establish an individual retirement account trust to be used by their employees. The application is also used by persons who want to establish approved prototype individual retirement accounts or annuities. The data collected is used to determine if plans may be approved.

Authorizing Statute(s): US Code: 28 USC 408 Name of Law: Individual Retirement Accounts

Citations for New Statutory Requirements: None

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 31087	06/29/2009
30-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 64125	12/07/2009
Did the Agency receive public comments on this ICR? No

Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Application for Approval of Prototype or Employer Sponsored Individual Retirement Account	5306	Application for Approval of Prototype or Employer Sponsored Individual Retirement Arrangement (IRA)

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	600	600	0
Annual Time Burden (Hours)	8,244	7,878	366
Annual Cost Burden (Dollars)	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The Form 5306 was revised to include Privacy Act Notice language as advised by the Chief Counsel, IRS. Because of this revision, the burden per respondent has increased, thus increasing the burden by 366 hours due to program change. Total burden requested is 8,244 hours.

Annual Cost to Federal Government: $383

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

Agency Contact: Esther Woodworth 202 622-3090

Common Form ICR: No