Required Distributions from Retirement Plans

Forms and Documents

Document Name	Status
1545-1573 Supporting Statement 10-10-2023.docx Supporting Statement A	2023-10-11

IC Document Collections

IC ID	Document Title	Status
262765	1.401(a)(9)-4(h) - trust as beneficiary	New
262764	1.401(a)(9)-4(e)(7) - disability documentation	New
18778	1.401(a)(9)-3(b)(4)(iii) and 1.401 (c)(5)(iii) - life expectancy rule	Modified

ICR Details

OMB Control No: 1545-1573	ICR Reference No: 202310-1545-004
Status: Received in OIRA	Previous ICR Reference No: 201304-1545-016
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Required Distributions from Retirement Plans
Type of Information Collection: Reinstatement with change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 10/11/2023

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	330,322	0
Time Burden (Hours)	56,155	0
Cost Burden (Dollars)	0	0

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Abstract: The regulations permit a taxpayer to name a trust as the beneficiary of the employee's benefit under a retirement plan; to choose between 5-year, 10-year, or the life expectancies of the beneficiaries of the trust to determine the required minimum distribution, if certain conditions are satisfied; and allows a beneficiary to provide documentation to a plan administrator showing that the beneficiary was disabled or chronically ill as of the date of the employee’s death.

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Authorizing Statute(s): US Code: 26 USC 7805 Name of Law: Rules and regulations
   US Code: 26 USC 401(a)(9) Name of Law: Required distributions.
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1545-BP82	Proposed rulemaking	87 FR 10504	02/24/2022

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 3

IC Title	Form No.	Form Name
1.401(a)(9)-3(b)(4)(iii) and 1.401 (c)(5)(iii) - life expectancy rule
1.401(a)(9)-4(e)(7) - disability documentation
1.401(a)(9)-4(h) - trust as beneficiary

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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	330,322	0	0	330,322	0	0
Annual Time Burden (Hours)	56,155	0	0	56,155	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: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: These regulations are modifying the existing RMD election requirements and adding additional documentation requirements for certain eligible designated beneficiaries.

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Annual Cost to Federal Government: $0

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

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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: 10/11/2023

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