Form 5310, Application for Determination for Terminating Plan; Form 6088, Distributable Benefits from Employee Pension Benefit Plans

Forms and Documents

Document Name	Status
Form Form 6088 Form 6088--Distributable Benefits From Employee Pension Benefits Plans Form and Instruction	New
Form Form 5310 Form 5310-- Application for Determination for Terminating Plan; Form	Modified
Supporting Statement.doc Supporting Statement A	2012-06-26

IC Document Collections

IC ID	Document Title	Status
202873	Form 6088--Distributable Benefits From Employee Pension Benefits Plans Form and Instruction	New
17121	Form 5310-- Application for Determination for Terminating Plan; Form	Modified

ICR Details

OMB Control No: 1545-0202	ICR Reference No: 201206-1545-020
Status: Historical Active	Previous ICR Reference No: 200906-1545-012
Agency/Subagency: TREAS/IRS	Agency Tracking No: EC-1545-0202-020
Title: Form 5310, Application for Determination for Terminating Plan; Form 6088, Distributable Benefits from Employee Pension Benefit Plans
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: 10/23/2012
	Date Received in OIRA: 08/31/2012
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2015	36 Months From Approved	10/31/2012
Responses	40,000	0	30,000
Time Burden (Hours)	1,718,300	0	1,813,650
Cost Burden (Dollars)	0	0	0

---

Abstract: Employers who have qualified deferred compensation plans can take an income tax deduction for contributions to their plans. IRS uses the data on Forms 5310 and 6088 to determine whether a plan still qualifies and whether there is any discrimination in benefits.

---

Authorizing Statute(s): US Code: 26 USC Section 401 (a) Name of Law: Income Taxes
   US Code: 26 USC Section 404 Name of Law: Income Taxes
  

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:
	77 FR 14598	03/12/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 52785	08/30/2012
Did the Agency receive public comments on this ICR? No

---

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

IC Title	Form No.	Form Name
Form 5310-- Application for Determination for Terminating Plan;	Form 5310	Application for Determination for Terminating Plan
Form 6088--Distributable Benefits From Employee Pension Benefits Plans	Form 6088	Distributable Benefits From Employee Pension 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	40,000	30,000	0	10,000	0	0
Annual Time Burden (Hours)	1,718,300	1,813,650	0	-95,350	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: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The total annual hours previously approved by OMB has decreased. A separate IC is created for each of the two forms to better reflect realistic filing requirements. The first IC pertains to the form 5310. The second IC pertains to the form 6088. Splitting each form's computation resulted in more efficient and streamlined computations and an overall decrease in total annual burden by 95,350 hours.

---

Annual Cost to Federal Government: $0

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

---

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: 08/31/2012

---