Return of Excise Taxes Related to Employee Benefit Plans

Forms and Documents

Document Name	Status
Form Form 5330 Return of Excise Taxes Related to Employee Benefit Plans Form	Modified
F5330_Justification Statement.doc Justification for No Material/Nonsubstantive Change	2008-01-08
F5330 Major Changes.pdf Supplementary Document	2008-01-08
F5330_Update_brdn_busi.PDF Supplementary Document	2008-01-08

IC Document Collections

IC ID	Document Title	Status
17278	Return of Excise Taxes Related to Employee Benefit Plans Form	Modified

ICR Details

OMB Control No: 1545-0575	ICR Reference No: 200801-1545-003
Status: Historical Active	Previous ICR Reference No: 200705-1545-030
Agency/Subagency: TREAS/IRS	Agency Tracking No: CB-0575-003
Title: Return of Excise Taxes Related to Employee Benefit Plans
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: 01/17/2008
	Date Received in OIRA: 01/10/2008
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2010	10/31/2010	10/31/2010
Responses	8,403	0	8,403
Time Burden (Hours)	540,145	0	478,215
Cost Burden (Dollars)	0	0	0

---

Abstract: Code sections 4971, 4972, 4973(a)(3), 4975, 4976, 4977, 4978, 4978A, 4978B, 4979, 4979A and 4980 impose various excise taxes in connection with employee benefit plans. Form 5330 is used to compute and collect these taxes.

---

Authorizing Statute(s): US Code: 26 USC 4972 Name of Law: Taxes on failure to meet minimum funding standards
   US Code: 26 USC 4973(a)(3) Name of Law: Tax on excess contributions to certain tax-favored accounts and annuities
   US Code: 26 USC 4975 Name of Law: Tax on prohibited transactions
   US Code: 26 USC 4971 Name of Law: Taxes on failure to meet minimum funding standards
   US Code: 26 USC 4976 Name of Law: Taxes with respect to funded welfare benefit plans
   US Code: 26 USC 4977 Name of Law: Tax on certain fringe benefits provided by an employer
   US Code: 26 USC 4978 Name of Law: Tax on certain dispositions by employee stock ownership plans and certain cooperatives
   US Code: 26 USC 4979 Name of Law: Tax on certain excess contributions
   US Code: 26 USC 4980 Name of Law: Tax on reversion of qualified plan assets to employer
   US Code: 26 USC 6103 Name of Law: Confidentiality and Disclosure of Returns and Return Information
  

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:
	72 FR 11937	03/14/2007
30-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 39136	07/17/2007
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
Return of Excise Taxes Related to Employee Benefit Plans	Form 5330	Return of Excise Taxes Related to Employee Benefit Plans

---

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	8,403	8,403	0	0	0	0
Annual Time Burden (Hours)	540,145	478,215	0	61,930	0	0
Annual Cost Burden (Dollars)	0	0	0	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: Form and Instruction revised, adding 22 Line Items and 22 Code References, resulting in an increase of burden hours to 540,145.

---

Annual Cost to Federal Government: $33,875

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]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

---

Common Form ICR:  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:

(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: 01/10/2008

---