Relief and Guidance on Corrections of Certain Failures of a Nonqualified Deferred Compensation Plan to Comply with § 409A(a)

Forms and Documents

Document Name	Status
Justification Statement_v 2.docx Justification for No Material/Nonsubstantive Change	2015-04-06
Notice 2010-80 (Modifies Notice 2008-113).rtf Supplementary Document	2015-04-06
Notice 2008-113.pdf Supplementary Document	2014-12-12
Supporting Statement (Notice 2008-13 & 2010-6) v 4.doc Supporting Statement A	2016-03-18
Notice 2010-6.pdf Supplementary Document	2013-07-30

IC Document Collections

IC ID	Document Title	Status
214236	Notice 2008-113--Relief and Guidance on Corrections of Certain Failures of a Nonqualified Deferred Compensation Plan to Comply with § 409A (a) in Operation	New
191573	Notice 2010-6--Relief and Guidance on Corrections of Certain Failures of a Nonqualified Deferred Compensation Plan to Comply with § 409A(a) in document.	Modified

ICR Details

OMB Control No: 1545-2164	ICR Reference No: 201412-1545-002
Status: Historical Active	Previous ICR Reference No: 201307-1545-064
Agency/Subagency: TREAS/IRS	Agency Tracking No: Ready
Title: Relief and Guidance on Corrections of Certain Failures of a Nonqualified Deferred Compensation Plan to Comply with § 409A(a)
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: 12/28/2016
	Date Received in OIRA: 07/14/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2019	36 Months From Approved	12/31/2016
Responses	20,000	0	10,000
Time Burden (Hours)	10,000	0	5,000
Cost Burden (Dollars)	0	0	0

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Abstract: The Treasury Department and the Service recognize that in certain cases, unintentional operational errors in complying with § 409A may occur which would result in income inclusion and additional tax for the service provider. Notice 2008-113 provides guidance on correcting certain unintentional operational errors. This Notice sets forth the information needed by the Service to ensure that the affected service providers and service recipients have complied with the terms of the Notice. Notice 2010-6 requires a corporation to attach to its federal income tax return an information statement related to the correction of a failure of a nonqualified deferred compensation plan to comply with the written plan document requirements of § 409A(a). The information statement must be attached to the corporation's income tax return for the corporation's taxable year in which the correction is made, and the subsequent taxable year to the extent an affected employee must include an amount in income in such subsequent year as a result of the correction. The corporation must also provide an information statement to each affected employee, and such employee must attach an information statement to the employee's federal tax return for the employee's taxable year during which the correction is made, and the subsequent taxable year(s) but only if an amount is includible in income by the employee in such subsequent year as a result of the correction.

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Authorizing Statute(s): US Code: 26 USC 409A(a) Name of Law: Rules relating to constructive receipt.
  

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:
	78 FR 16046	03/13/2013
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 53501	08/29/2013
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
Notice 2008-113--Relief and Guidance on Corrections of Certain Failures of a Nonqualified Deferred Compensation Plan to Comply with § 409A (a) in Operation
Notice 2010-6--Relief and Guidance on Corrections of Certain Failures of a Nonqualified Deferred Compensation Plan to Comply with § 409A(a) in document.

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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	20,000	10,000	0	0	10,000	0
Annual Time Burden (Hours)	10,000	5,000	0	0	5,000	0
Annual Cost Burden (Dollars)	0	0	0	0	0	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 change in the paperwork burden previously approved by OMB stems from consolidating the information collection request for Notice 2008-113 with Notice 2010-6. Both notices are related to errors in complying with § 409A. Notice 2008-113 is intended to correct operational failures. While Notice 2010-6 is intended to correct document failures.

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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

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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: 07/14/2016

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