Annual Return of One-Participant (Owners and Their Spouses) Retirement Plan

Forms and Documents

Document Name	Status
Form 5500-EZ Annual Return of One-Participant (Owners and Their Spouses) Retirement Plan Form	Modified
09 burden.PDF Supplementary Document	2009-10-29
SS5500ez[1].doc Supporting Statement A	2009-11-10
ombat2.doc Supplementary Document	2006-08-31

IC Document Collections

IC ID	Document Title	Status
39892	Annual Return of One-Participant (Owners and Their Spouses) Retirement Plan Form	Modified

ICR Details

OMB Control No: 1545-0956	ICR Reference No: 200910-1545-028
Status: Historical Active	Previous ICR Reference No: 200608-1545-083
Agency/Subagency: TREAS/IRS	Agency Tracking No: ah-0956-028
Title: Annual Return of One-Participant (Owners and Their Spouses) Retirement Plan
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 06/25/2010
	Date Received in OIRA: 11/17/2009
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2013	36 Months From Approved	06/30/2010
Responses	250,000	0	250,000
Time Burden (Hours)	7,005,000	0	6,770,000
Cost Burden (Dollars)	0	0	0

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Abstract: Form 5500-EZ is an annual return filed by a one-participant or one-participant and spouse pension plan. The IRS uses this data 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 410(b) Name of Law: Minimum coverage requirements
  

Citations for New Statutory Requirements: US Code: 26 USC 412 Name of Law: Minimum funding standards

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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:
	74 FR 40644	08/12/2009
30-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 59030	11/16/2009
Did the Agency receive public comments on this ICR? No

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

IC Title	Form No.	Form Name
Annual Return of One-Participant (Owners and Their Spouses) Retirement Plan	5500-EZ	Annual Return of One-Participant (Owners and Their Spouses) Retirement Plan

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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	250,000	250,000	0	0	0	0
Annual Time Burden (Hours)	7,005,000	6,770,000	235,000	0	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: Pursuant to the Pension Protection Act of 2006 (PL 109-280), the Form 5500 series requirements have been changed for pension benefit plans subject to the minimum funding requirements of section 412. Schedule MB and SB (Form 5500) has replaced the Schedule B (Form 5500) to report the appropriate information. New plan characteristic codes have been added to identify foreign plans, one-participant plans that satisfy the minimum coverage requirements of section 410(b), pursuant to the Pension Protection Act, only when combined with another plan of the employer, plans whose sponsors received services of leased employees, and plans whose sponsors are members of a controlled group under section 414(b), or (c), or an affiliated services group under 414(m). These changes to comply with the current Internal Revenue Code, as amended by the Pension Protection Act, result in a net burden increase of 235,000 program hours. Also, while Form 5500 can be filed electronically and through a paper-based submission process, Form 5500-EZ for 2009 will not be filed through the computerized ERISA Filing Acceptance System (EFAST). Filers can view and print the form online, but must file the return via mail for 2009. However, Treasury expects that Form 5500-EZ will be able to be filed electronically sometime in 2011.

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Annual Cost to Federal Government: $10,231

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]? Uncollected

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

Is this ICR related to the Pandemic Response? Uncollected

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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: 11/17/2009

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