Annual Return/Report of Employee Benefit Plan

OMB Control No: 1545-1610	ICR Reference No: 202012-1545-013
Status: Received in OIRA	Previous ICR Reference No: 202004-1545-006
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	Date Submitted to OIRA: 01/07/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved	03/31/2023
Responses	929,000	916,500
Time Burden (Hours)	934,830	930,908
Cost Burden (Dollars)	140,563,487	139,007,000

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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)    PL: Pub.L. 111 - 192 201 Name of Law: Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010

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:
	85 FR 55936	09/10/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 704	01/06/2021
Did the Agency receive public comments on this ICR? No

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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 C (Form 5500), 5500, Sch H (Form 5500), Sch I (Form 5500), Sch A (Form 5500), Sch D (Form 5500), Sch R (Form 5500), Sch SB (Form 5500) , 5500SF, Sch G (Form 5500), Sch MB (Form 5500) Service Provider Information ,   Annual Return/Report of Employee Benefit Plan ,   Financial Information ,   Financial Information—Small Plan ,   Insurance Information ,   DFE/Participating Plan Information ,   Retirement Plan Information ,   Single-Employer Defined Benefit Plan Actuarial Information ,   Short Form Annual Return/Report of Small Employee Benefit Plan ,   Financial Transaction Schedules ,   Multiemployer Defined Benefit Plan and Certain Money Purchase Plan Actuarial Information Form 5500-EZ Paper Submissions 5500-EZ Annual Return of A One-Participant (Owners/Partners and Their Spouses) Retirement Plan or A Foreign Plan

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ICR Summary of Burden

	Total Request	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	929,000	916,500	0	-500	13,000	0
Annual Time Burden (Hours)	934,830	930,908	0	-208	4,130	0
Annual Cost Burden (Dollars)	140,563,487	139,007,000	0	0	1,556,487	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: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The below table summarizes the burden changes. The Change Due to Agency Discretion is the result of the IRS decision to not release Form 5500SUP due to the phase out of paper filing in 2021. The Change Due to Agency Estimate is the result of the most currently filing figures received from DOL. The addition of the checkboxes to the form is not expected to change the burden estimates.

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Annual Cost to Federal Government: $14,400,000

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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? No

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: 01/07/2021

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