Annual Return/Report of Employee Benefit Plan

OMB Control No: 1545-1610	ICR Reference No: 201606-1545-031
Status: Historical Active	Previous ICR Reference No: 201503-1545-020
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Annual Return/Report of Employee Benefit Plan
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 10/03/2016
Retrieve Notice of Action (NOA)	Date Received in OIRA: 07/07/2016
Terms of Clearance: OMB approves the collection with the following terms of clearance: Treasury/IRS must coordinate approval of any future renewal or revision to this collection with DOL and PBGC. Treasury, DOL, and PBGC should seek approval of any revisions or renewals at the same time, so as to minimize any confusion to the public.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2019	08/31/2018	03/31/2019
Responses	806,500	0	822,500
Time Burden (Hours)	320,208	0	340,208
Cost Burden (Dollars)	120,611,000	0	112,088,000

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Abstract: Form 5500 is an annual information return filed by employee benefit plans. The IRS uses this information to determine if the plan appears to be operating properly as required under the law or whether the plan should be audited.

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Authorizing Statute(s): US Code: 26 USC 6058 Name of Law: Information required in connection with certain plans of deferred compensation    PL: Pub.L. 109 - 280 1 Name of Law: The Pension Protection Act of 2006 (PPA)

Citations for New Statutory Requirements: None

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

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 18687	03/31/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 42794	06/30/2016
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 2

IC Title Form No. Form Name Form 5500-SUP - Annual Return of Employee Benefit Plan Supplemental Information 5500-SUP Annual Return of Employee Benefit Plan Supplemental Information Annual Return/Report of Employee Benefit Plan Sch A (Form 5500), Sch D (Form 5500), Sch R (Form 5500), Sch SB (Form 5500) , 5500SF, 5500, Sch C (Form 5500), Sch G (Form 5500), Sch H (Form 5500), Sch I (Form 5500), Sch MB (Form 5500) Annual Return/Report of Employee Benefit Plan ,   Short Form Annual Return/Report of Small Employee Benefit Plan ,   Insurance Information ,   Service Provider Information ,   DFE/Participating Plan Information ,   Financial Transaction Schedules ,   Financial Information ,   Financial Information—Small Plan ,   Multiemployer Defined Benefit Plan and Certain Money Purchase Plan Actuarial Information ,   Retirement Plan Information ,   Single-Employer Defined Benefit Plan Actuarial Information

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ICR Summary of Burden

	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	806,500	822,500	0	0	-16,000	0
Annual Time Burden (Hours)	320,208	340,208	0	0	-20,000	0
Annual Cost Burden (Dollars)	120,611,000	112,088,000	0	8,419,000	104,000	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement: The IRS is updating the burden to reflect updated data on filing counts and wage rates. We are making this 2016 submission to reflect the IRS portion of the burden developed by the Department of Labor (DOL). The number of responses will decrease by 16,000 and the wage rates will increase. This produced a slight decrease in the hour burden and a slight increase in the cost burden by $104,000. The IRS burden is 320,000 hours for Form 5500 and schedules. An addition of $ 8,419,000 is being added to the annual cost burden to account for discrepancies with the current DOL methodology cost estimates. The Form 5500-SUP can also be filed by paper with the IRS. The paper Form 5500-SUP should only be used if certain IRS compliance questions are not answered electronically on the Form 5500 or Form 5500-SF. The paper submission of this form will result in an estimated number of responses by 500 and the estimated annual burden by 208 hours.

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Annual Cost to Federal Government: $5,250,000

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: Leslie Larson 202 317-8691

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Common Form ICR:  No

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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:
		(a) It is necessary for the proper performance of agency functions;
		(b) It avoids unnecessary duplication;
		(c) It reduces burden on small entities;
		(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
		(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
		(f) It indicates the retention periods for recordkeeping requirements;
		(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
			(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;
		(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
		(i) It uses effective and efficient statistical survey methodology (if applicable); and
		(j) It makes appropriate use of information technology.
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.
Certification Date: 07/07/2016

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