46556 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

DEPARTMENT OF THE TREASURY

Internal Revenue Service

PENSION BENEFIT GUARANTY

CORPORATION

Proposed Revision of Annual

Information Return/Reports

AGENCIES: Department of Labor,

Department of the Treasury, Pension

Benefit Guaranty Corporation.

ACTION: Notice of proposed forms

revisions.

SUMMARY: This document contains a

proposal by the Department of Labor,

the Internal Revenue Service, and the

Pension Benefit Guaranty Corporation

(the Agencies) to streamline and

simplify the annual return/report forms

(the Form 5500 Series) filed for

employee pension, welfare and fringe

benefit plans under the Employee

Retirement Income Security Act of 1974

(ERISA) and the Internal Revenue Code

of 1986, as amended (the Code).

Dates, Written Comments and Public

Hearing: The Agencies invite interested

persons to submit written comments

regarding the revised forms. Written

comments (preferably 4 copies) should

be submitted to: Office of Regulations

and Interpretations, Pension and

Welfare Benefits Administration, U.S.

Department of Labor, Room N–5669,

200 Constitution Ave., NW,

Washington, DC 20210, Attention:

Proposed Forms Revisions. Written

comments on the revised forms must be

received by the Department of Labor on

or before November 3, 1997, and should

include a reference to the relevant form,

question, and related instruction.

A joint public hearing on the

proposed revised forms will be held on

November 17 and (if necessary)

November 18, 1997, beginning at 10:00

a.m., in the Auditorium, Frances

Perkins Building, U.S. Department of

Labor, 200 Constitution Ave., NW,

Washington, DC. Any interested person

who wishes to present oral testimony at

the hearing should submit on or before

November 3, 1997 a written request to

be heard, including a statement of the

topics to be discussed. The request

should be submitted to the Office of

Regulations and Interpretations at the

address above: Attention: Form 5500

Revisions Hearing. An agenda

indicating the order of presentation of

oral comments will be prepared. In the

absence of special circumstances, each

commentator will be allotted 10 minutes

for his or her presentation. Information

about the agenda may be obtained on or

after November 3, 1997 by contacting

George M. Holmes, Jr., Pension and

Welfare Benefits Administration, U.S.

Department of Labor, (202) 219–8515.

Individuals not listed in the agenda will

be allowed to make oral comments at

the hearing to the extent time permits.

Those individuals who make oral

comments at the hearing should be

prepared to answer questions regarding

their comments. The hearing will be

transcribed. All submissions will be

open to public inspection in the Public

Disclosure Room, Pension and Welfare

Benefits Administration, Room N–5638,

200 Constitution Ave., NW,

Washington, DC 20210.

The Agencies intend that, if adopted,

the revised forms will be effective for

plan years beginning on or after January

1, 1998.

FOR FURTHER INFORMATION CONTACT:

George M. Holmes, Jr., Pension and

Welfare Benefits Administration, U.S.

Department of Labor, (202) 219–8515,

for questions relating to the proposed

Form 5500 as well as Schedules A, C,

D, G, FIN and FIN-SP. James Flannery,

Internal Revenue Service, (202) 622–

6214, for questions relating to Schedules

B, E, F, P, PEN, Q, and SSA. James J.

Bloch, Pension Benefit Guaranty

Corporation, (202) 326–4080 (x3530), for

questions relating to line 10 of Schedule

PEN as well as questions regarding

information requirements under Title IV

of ERISA. For further information on

any item not mentioned above, contact

Mr. Holmes. The telephone numbers

referenced above are not toll-free

numbers.

SUPPLEMENTARY INFORMATION: Under

part 1 of Title I of ERISA, Title IV of

ERISA, and the Code, as amended,

administrators of pension and welfare

benefit plans (collectively employee

benefit plans) subject to those

provisions are required to file return/

reports annually concerning, among

other things, the financial condition and

operations of the plans. Employers

sponsoring certain fringe benefit plans

and other plans of deferred

compensation that are not subject to

Title I of ERISA are also required under

the Code to file certain information

annually with the IRS. These annual

reporting requirements are satisfied

generally by filing the Form 5500 Series

in accordance with its instructions and

the related regulations.

The existing Form 5500 Series

includes the Form 5500 Annual Return/

Report of Employee Benefit Plan (with

100 or more participants), Form 5500–

C Return/Report of Employee Benefit

Plan (with fewer than 100 participants),

Form 5500–R Registration Statement of

Employee Benefit Plan (with fewer than

100 participants), and the statements

and schedules required to accompany

the forms. Currently, plans with fewer

than 100 participants file the longer

Form 5500–C at least every third year,

and the shorter Form 5500–R

registration statement in the two

intervening years. The Form 5500–EZ

Annual Return of One-Participant

(Owners and Their Spouses) Retirement

Plan is specifically excluded from

consideration in this publication.

In an effort to simplify and streamline

the annual return/report and to reduce

the reporting burden on filers, the

agencies have developed one Form 5500

for use by both ‘‘large plan’’ filers (plans

that previously filed the Form 5500) and

‘‘small plan’’ filers (plans that

previously were eligible to file the Form

5500–C/R). The new form is intended

to:

• Reduce the total amount of

information required to be reported for

many plans by eliminating information

that is not useful to accomplish

enforcement, research, or other

statutorily mandated missions;

• Provide plans using simple tax

qualification structures and financial

operations with correspondingly

streamlined annual reporting

requirements;

• Allow large and small pension plan

filers to report information on coverage

requirements for qualified plans in

accordance with the three-year testing

cycle permitted under Rev. Proc. 93–42,

1993–2 C.B. 540;

• Target reporting requirements so

that welfare plans generally complete

fewer items than pension plans, and

small plans complete fewer items than

large plans;

• Establish the Form 5500 as the

standardized reporting format for all socalled ‘‘direct filing entities’’—common/

collective trusts, pooled separate

accounts, master trusts, 103–12

investment entities, and group

insurance arrangements;

• Eliminate redundant items and

improve questions that historically

produced frequent technical filing

errors; and

• Reduce government and filer costs

associated with filing, receiving and

processing annual reports, speed

government processing, and enable

plans and their service providers to

establish more streamlined record

keeping and filing support systems.

The proposal eliminates the Form

5500–C/R, but maintains limited

financial reporting similar to the Form
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46557

5500–R for small plans. Further, plans

that are currently exempt from filing a

return/report (such as certain small

unfunded/insured welfare plans and

certain SEPs) or that are eligible for

limited reporting options (such as

certain Code section 403(b) plans) will

continue to be eligible for that annual

reporting relief.

The proposal restructures the Form

5500 along the lines of tax returns

familiar to individual and corporate

taxpayers—a simple one-page main

form with basic information necessary

to identify the plan for which the report

is filed along with a checklist to indicate

the schedules being filed applicable to

the filer’s specific type of plan. For most

plans, the basic identifying information

does not change from year to year and

pre-printing this information should

ease reporting burdens and reduce filing

errors. The Agencies are evaluating the

feasibility of pre-printing the basic

identifying information on the Form

5500 after the first full filing-year cycle

under the new computer scannable

forms discussed below. The structure of

the proposed form should also aid filers

by allowing them to assemble and file

a report that is ‘‘customized’’ to their

type of plan. The Agencies are also

publishing as part of this proposal

revised filing instructions that are

intended to be easier to use, including

a quick reference chart with guidelines

on which schedules must be filed for

each type of Form 5500 filer (large and

small pension plans, large and small

welfare plans, Direct Filing Entities and

fringe benefit plans).

Taking into consideration the

Agencies’ enforcement, research and

policy needs, as well as the Department

of Labor’s participant/public disclosure

obligations, the Agencies believe this

restructuring, and the other revisions of

the Form 5500 discussed below, will

reduce the burdens and costs

attributable to compliance with the

annual reporting requirements.

Although this publication concerns

proposed revisions of the Form 5500

Series, the Agencies believe meaningful

burden hour and cost reductions can be

achieved only through integrated

implementation of changes to the

government’s system to process the

forms. Accordingly, the Department of

Labor is preparing a Request for

Proposal (RFP) for a contractor to

develop and implement a new system to

simplify and expedite the receipt and

processing of the Form 5500 Series. The

new system is to rely on electronic filing

with optical scanning technology and

optical character recognition to

computerize the paper forms. Under the

new system, the paper forms will have

to be reformatted to be computer

scannable. While the reformatting will

affect the appearance and length of the

form, the actual number of data

elements will not be affected. The new

system is also to be developed in a way

that should substantially increase the

percentage of plans filing their Form

5500 via electronic filing as a more

efficient alternative to even scannable

forms. A mock-up of a scannable Form

5500 is being published with the

printed versions of the proposal. The

scannable mock-up, however, does not

necessarily reflect the way the final

scannable forms will look. The final

appearance will depend on the scanning

technology selected for use in the new

form processing system. Details on the

processing system will be available as

the RFP is finalized.

Overview of Forms Revisions

To assist interested parties in

reviewing the revised forms, an

overview of the Agencies’ proposed

changes to the Form 5500 Series is set

forth below.

As noted above, by eliminating

certain questions and developing new

schedules, the Form 5500 itself has been

revised into a short one-page form that

serves both as a simple registration

statement and as a ‘‘packing list’’ for

attaching relevant schedules. The

proposed Form 5500 constitutes eight

basic questions that identify: (i) The

type of annual report being filed, (ii) the

plan on whose behalf it is being filed,

and (iii) what schedules and how many

of each are being filed as attachments to

the Form 5500.

Under the proposal, there is a total of

thirteen schedules—five pension

schedules, seven financial schedules,

and one fringe benefit schedule:

Pension Schedules: Schedule B

(Actuarial Information), Schedule E

(ESOP Information), Schedule PEN

(Pension Plan Information), Schedule Q

(Qualified Pension Plan Coverage

Information), and Schedule SSA

(Separated Vested Participant

Information);

Financial Schedules: Schedule A

(Insurance Information); Schedule C

(Service Provider Information);

Schedule D (Direct Filing Entity/

Participating Plan Information);

Schedule FIN (Financial Information);

Schedule FIN-SP (Financial

Information—Small Plan); Schedule G

(Financial Transactions) and Schedule P

(Trust Fiduciary Information).

Fringe Benefit Schedule: Schedule F

(Fringe Benefit Plan Information).

Below is a description of the five new

schedules being established as part of

this proposal (Schedules D, FIN, FINSP, PEN, and Q), the three existing

schedules being revised (Schedules A,

C, and G), and a statement of the reasons

why the Agencies are proposing to leave

the remaining five schedules (Schedules

B, E, F, P, and SSA) unchanged.

1. Schedule A (Insurance Information)

Schedule A must be attached to the

Form 5500 if any pension or welfare

benefits under the plan (whether small

or large) are provided by, or if the plan

has any investment contracts with, an

insurance company or other similar

organization. Although most of the

Schedule A data collection has been

retained substantially unchanged,

several significant revisions are being

proposed which are designed to collect

better information about insurance

products, including conforming the

Schedule A to recent accounting

industry changes on ‘‘current value’’

financial reporting of investment-type

contracts with insurance companies,

and requiring: (i) Information on a plan

year as opposed to insurance contract

year basis; (ii) better identification of the

type of insurance contracts and type of

insured benefits being reported; and (iii)

insurer’s EIN (employer identification

number) and NAIC (National

Association of Insurance

Commissioners) code.

2. Schedule C (Service Provider

Information)

Schedule C must be attached to the

Form 5500 filed by large plans if any

person who rendered services to the

plan received directly or indirectly

$5,000 or more in compensation from

the plan during the plan year. The

proposal limits the schedule to the 40

top paid service providers at or above

the $5,000 threshold. Further, the

proposal also eliminates the separate

requirement to file a Schedule C to

identify annually plan trustees and

limits the current requirement to file a

Schedule C to explain service provider

terminations to accountants and

enrolled actuaries. Small plans would

continue to be exempt from the

Schedule C.

3. Schedule D (Direct Filing Entity/

Participating Plan Schedule)

The Schedule D is a new standardized

form for filing information on

relationships between plans and master

trust investment accounts (MTIAs),

common/collective trusts (CCTs),

insurance company pooled separate

accounts (PSAs), investment entities

covered under 29 CFR 2520.103–12

(103–12 IEs), and group insurance

arrangements (GIAs), collectively

known as ‘‘Direct Filing Entities’’ or
46558 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices

1For example, there is no change in the waiver

of the independent qualified public accountant

requirements in 29 CFR 2520.104–41 and 2520.104–

46, or the small plan exemptions from the Schedule

C (service provider information), the schedules of

loans, leases or fixed income obligations in default

and nonexempt transactions (revised Schedule G).

‘‘DFEs.’’ Currently, if a group insurance

arrangement files a Form 5500 on behalf

of the participating plans under the

Department of Labor regulation at 29

CFR 2520.104–43, the individual plans

participating in the GIA are exempt

from filing a Form 5500 or 5500–C/R.

Plans currently participating in the

other DFEs (MTIAs, 103–12 IEs, CCTs

and PSAs) generally must file a Form

5500 or 5500–C/R; however, if the DFE

files certain financial information

directly on behalf of the administrators

of all participating plans, the plans are

allowed to limit the information in their

separate Form 5500 or Form 5500–C/R

because the DFE’s filing is considered

part of each participating plan’s annual

report. These DFE reporting rules were

developed in an effort to simplify the

annual reporting requirements for the

participating plans. The absence of a

standardized reporting format for DFE

filings, however, makes it impossible for

the Department to correlate and

effectively use the data regarding

approximately $1 trillion in plan assets

reported by plans and DFEs.

Accordingly, the proposal establishes

the new Form 5500 as the standardized

annual reporting format for all DFEs.

Under the proposal, MTIAs and 103–

12 IEs would be required to complete:

(1) Applicable items on the streamlined

Form 5500; (2) a Schedule A for each

insurance contract held by the DFE; (3)

a Schedule C to list DFE service

providers receiving compensation from

the DFE; (4) one or more Schedules D

to list all participating plans at any time

during the year and all CCTs, PSAs or

103–12 IEs that the MTIA or 103–12 IE

invested in during the year; (5) a

Schedule FIN financial statement; (6)

one or more Schedules G listing certain

financial transactions; and (7) for 103–

12 investment entities, a report of an

independent qualified public

accountant. Large plans that invest in

MTIAs and 103–12 IEs would continue

to report the value of their interests in

these entities on one line in the plan’s

Schedule FIN as of the beginning and

end of the plan year and as a single

entry for net investment gain/loss.

Under the proposal, as under the

current Form 5500 Series, CCTs and

PSAs could elect to file information as

a DFE. If a CCT or PSA elects to file,

they would be required to complete (1)

applicable items on the streamlined

Form 5500; (2) one or more Schedules

D to list all participating plans at any

time during the year and all CCTs,

PSAs, or 103–12IEs that the CCT or PSA

invested in during the year; and (3) a

Schedule FIN financial statement. Large

plans investing in a CCT or PSA that

files as a DFE would report the value of

their interests in these entities on one

line in the plan’s Schedule FIN as of the

beginning and end of the plan year and

as a single entry for their net investment

gain/loss during the year. If the CCT or

PSA does not file a Form 5500 as a DFE,

employee benefit plans would have to

break out their percentage interest in the

underlying assets of the CCT or PSA and

report the dollar value in the

appropriate categories in the Schedule

FIN statement of assets and liabilities

(and would still report the net

investment gain/loss as a single entry on

the Schedule FIN income and expense

statement).

Both large and small plans would

have to file a Schedule D listing the

MTIAs, 103–12 IEs, CCTs and PSAs in

which they participated, and would be

required to list CCTs and PSAs

regardless of whether the CCT or PSA

filed as a DFE. Reports of small plans

filing the Schedule FIN–SP are not

expected to be otherwise significantly

affected by these changes.

GIAs that file a Form 5500 (including

applicable schedules and attachments)

on behalf of their participating plans

under the Department of Labor

regulation at 29 CFR 2520.104–43,

would be required to file a Schedule D

listing the participating plans.

The Department is specifically

soliciting comments from interested

parties on how these DFE changes can

be implemented in a manner that

minimizes the impact on plan

administrators and DFEs, including

suggestions about the use of electronic

filing options and delayed effective

dates. The Department will also be

publishing a separate Notice of

Proposed Rulemaking on regulatory

amendments needed to accommodate

the DFE changes.

4. Schedules FIN (Financial

Information)/ FIN–SP (Financial

Information—Small Plan)

The proposal essentially incorporates

the financial statements from the

current Form 5500 (lines 31 and 32) as

part of a new Schedule FIN (‘‘Financial

Information’’). For small plan filers, the

proposal includes a new Schedule FIN–

SP (‘‘Financial Information—Small

Plan’’) that maintains simplified

financial statements similar to the

current Form 5500–R and adds a limited

number of specific investment

categories that must be separately

reported. The proposal also incorporates

into the Schedules FIN and FIN–SP

‘‘yes/no and amount’’ questions focused

on key compliance issues/enforcement

areas involving investments, financial

transactions, and handling of plan

assets. The Schedule FIN also includes

revised versions of the current Form

5500 questions on the accountant’s

opinion and report. Current regulatory

exemptions, simplified reporting, and

alternative methods of compliance for

annual financial reporting by certain

welfare and pension plans are expected

to remain unchanged.1 Since the

proposal eliminates various questions

from the current Form 5500 Series that

dealt with Title I compliance, the

Department of Labor also developed an

ERISA compliance quick checklist to

help plan administrators and other

fiduciaries comply with Title I

requirements. The checklist is to be in

the Form 5500 instruction package, but

its use is to be voluntary, and it would

not be filed with the Form 5500.

5. Schedule G (Financial Transactions)

Use of the Schedule G would be

mandatory for the schedules now

required by lines 27b, 27c, 27e, and 27f

of the current Form 5500. The proposed

Schedule G would have to be attached

to the Form 5500 of a large plan, MTIA

or 103–12 IE to report loans or fixed

income obligations in default or

determined to be uncollectible as of the

close of the reporting year (Part I of

Schedule G), leases in default or

classified as uncollectible during the

plan year (Part II of Schedule G), and to

report nonexempt prohibited

transactions (Part III of Schedule G).

Large plans can aggregate participant

loans in default as one item on Part I of

the plan’s Schedule G when certain

requirements are met, including each

loan being fully secured by the

participant’s account balance in the

plan. Small plans are not required to file

a Schedule G.

The proposal eliminates from the

Form 5500 the schedules of assets held

for investment purposes (line 27a of the

current Form 5500) and the schedule of

reportable (5%) transactions (line 27d of

the current Form 5500). The

requirement to report this information is

eliminated, but the records needed to

generate the information on the current

schedule of reportable transactions and

schedules of assets would have to be

maintained, and administrators of large

plans would have to prepare and

disclose that information, on request, to

participants and other authorized

parties under sections 104(b)(2) and
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46559

2Participants and beneficiaries would be entitled

to request, and receive automatically, the schedules

of assets and schedule of reportable transactions

that relate to the ‘‘latest’’ annual report of the plan.

Other disclosure rights and obligations may arise

based on facts and circumstances, in addition to

those specified in ERISA section 104(b).

3The general statutory provisions and fiduciary

duties regarding maintenance of plan records would

also continue to apply to participant directed

transactions.

104(b)(4) of ERISA.2 To satisfy that

disclosure obligation, however,

transactions effected at the affirmative

direction of participants in defined

contribution plans could be excluded

from the definition of ‘‘transaction’’ for

the schedule of reportable transactions,

and no ‘‘historical cost’’ entry would be

needed for such transactions on the

schedules of assets. The disclosure

would have to be presented in an

understandable and non-misleading

format. Because the schedules of assets

and reportable transactions would not

be part of the plan’s annual report, the

accountant’s opinion required under

ERISA 103(a)(3)(A) would not have to

cover that information, but the

underlying books and records of the

plan would continue to be subject to the

audit requirement.3 The Department of

Labor will publish a Notice of Proposed

Rulemaking on regulatory amendments

necessary to accommodate these

changes.

6. Schedule PEN (Pension Plan

Information)

The Schedule PEN is a new schedule

that is required to be filed by both tax

qualified and nonqualified pension

benefit plans that are required to file

Form 5500, other than annuity

arrangements and custodial accounts

under Code section 403(b)(1) and

403(b)(7), and individual retirement

accounts/annuities under section 408.

The purpose of Schedule PEN is to

report certain information on

participant coverage, plan distributions

and funding, and the adoption of

amendments increasing the value of

benefits in a defined benefit pension

plan. As part of a publication describing

various voluntary compliance programs

administered by the Employee Plans

function, the IRS is also developing a

compliance checklist to help pension

plan sponsors and administrators

comply with the tax qualification

requirements of the Code and Title II of

ERISA.

7. Schedule Q (Qualified Pension Plan

Coverage Information)

The Schedule Q is a new schedule for

reporting qualified plan coverage

information for qualified pension plans,

including plans maintained by

employers that operate QSLOBs, and for

employers participating in multipleemployer plans. For a plan that is tested

under the three-year testing cycle rule in

Rev. Proc. 93–42, Schedule Q must be

filed for the first year in the plan’s

testing year cycle. Schedule Q need not

be filed for the subsequent years in the

cycle if the employer is permitted to

rely on the earlier year’s testing. If the

employer does not or cannot use the

three-year testing rule in Rev. Proc. 93–

42, Schedule Q must be filed annually.

The adoption of this new schedule

eliminates the separate Form 5500–C/R

filing requirement that now applies to

employers participating in plans that

currently file Form 5500 as a ‘‘multipleemployer plan (other).’’ This schedule

replaces separate statements currently

required regarding the coverage of plans

that must be disaggregated under

section 1.410(b)–7 of the Income Tax

Regulations.

8. Other Schedules

The Schedule B (Actuarial

Information) and Schedule SSA

(Separated Participants With Deferred

Vested Benefits) were not revised

because both were recently revised and

it did not appear productive to propose

further revisions at this time. The

Schedule F (Fringe Benefit Plan

Information) also was not revised

because Code section 6039D mandates

collection of the information reported

on that schedule. Lastly, the Schedule E

(ESOP Annual Information) was not

revised because it is filed only by ESOPs

and the IRS was not aware of substantial

interest in changing the schedule. The

Agencies welcome suggestions for

making these schedules simpler. It is

anticipated that the final version of

these schedules will be revised at a

minimum to reflect changes in law and

other appropriate updates.

9. Quick Reference Chart

The Agencies developed a quick

reference chart for the Form 5500

instructions that indexes the schedules

required from each major class of filer.

That chart is reproduced below:

BILLING CODE 4510–29–P
46560 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices
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BILLING CODE 4510–29–C
46562 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices

10. Miscellaneous Changes

Various other changes were made as

part of the substantial restructuring of

the Form 5500 Series being proposed.

Several of the more significant

miscellaneous changes include: (1)

Expanded utilization of codes to report

plan features information on pension

and welfare benefit plans; (2)

elimination of the CUSIP (Committee on

Uniform Securities Identification

Procedures) issuer number; (3)

simplification of requirements on

reporting the total number of plan

participants and participant subgroups;

(4) deletion of LM numbers (file

numbers on Labor Organization Annual

Report Forms); and (5) addition of a line

for the name, EIN, and classification

code of a ‘‘Preparer.’’

Other Supplementary Information:

Regulations Relating to the Proposed

Forms

For purposes of Title I of ERISA, the

filing of a completed Form 5500

(including required statements,

schedules, and independent qualified

public accountant report) generally

constitutes compliance with the limited

exemption and alternative method of

compliance in 29 CFR 2520.103–1(b).

The Department intends to propose

amendments to 2520.103–1 and other

annual reporting regulations to

accommodate the form changes

proposed herein. The Department will

discuss the findings required under

sections 104(a)(3) and 110 relating to the

use of the Form 5500, as revised, as an

alternative method of compliance and

limited exemption from the reporting

and disclosure requirements of part 1 of

Title I of ERISA as part of that

rulemaking. The forms, schedules, and

instructions proposed in this notice will

not become effective as an alternative

method of compliance and limited

exemption from the reporting and

disclosure requirements of Part 1 of

Title I of ERISA until such regulations

are issued in final form.

Paperwork Reduction Act

The Agencies, as part of their

continuing efforts to reduce paperwork

and respondent burden, invite the

general public and Federal agencies to

comment on proposed and/or

continuing collections of information in

accordance with the Paperwork

Reduction Act of 1995 (PRA 95) (44

U.S.C. 3506(c)(2)(A)). This helps to

ensure that requested data are provided

in the desired format, reporting burden

(time and financial resources) is

minimized, collection instruments are

clearly understood, and the impact of

collection requirements on respondents

is properly assessed. Currently, the

Agencies are soliciting comments

concerning the proposed revision of the

Form 5500 Series, pursuant to Part 1 of

Title 1 and Title IV of ERISA and the

Internal Revenue Code.

DATES: Written comments must be

submitted on or before November 3,

1997 to be assured of consideration.

ADDRESSES: Interested parties are

invited to submit written comments

regarding the Form 5500 Series annual

reporting requirements of any or all of

the Agencies. Send comments to Mr.

Gerald B. Lindrew, U.S. Department of

Labor, PWBA/OPR, Room N–5647, 200

Constitution Avenue, N.W.,

Washington, DC 20210, telephone 202–

219–4782 (this is not a toll-free

number). All comments will be shared

among the Agencies.

SUPPLEMENTARY PAPERWORK REDUCTION

ACT INFORMATION:

I. Background:

The Agencies have undertaken a

revision of the Form 5500 Series in an

effort to streamline and simplify this

annual report.

II. Current Actions

The Agencies have developed a single

streamlined Form 5500 for use by both

large and small plan filers. The Forms

5500–C and 5500–R have been

eliminated; in general, small plans will

submit information similar to the

current 5500–C/R data collections.

Type of Review: Revision of a

currently approved collection.

Agencies: Pension and Welfare

Benefits Administration (OMB No.

1210–0016); Internal Revenue Service

(OMB No. 1545–0710); Pension Benefit

Guaranty Corporation (OMB No. 1212–

0026).

Title: Form 5500 Series.

Affected Public: Individuals or

households; Business or other for-profit;

Not-for-profit institutions.

Form Number: DOL/IRS/PBGC Form

5500 and Schedules.

Total Respondents: The total number

of annual Form 5500 filers is

approximately 901,400. Of that total,

only 801,934 filings are for employee

benefit plans subject to the Department

of Labor’s jurisdiction under Title I of

ERISA. The remaining 99,466 are made

to comply with IRS requirements for

fringe benefit plans under Code section

6039D, pension plans maintained

outside the United States, and OneParticipant (Owners and Their Spouses)

Retirement Plans. Accordingly, the

Labor Department’s total respondents is

801,934 and the IRS’s is 901,400.

Total Responses: See ‘‘Total

Respondents’’ Above.

Frequency of Response: Annually.

Estimated Time per Response,

Estimated Burden Hours, Total Annual

Burden: See below for each Agency.

Calculation of Burden: PWBA and IRS

burden estimates are based on different

estimation methodologies (see below).

The total burden estimate ranges from

1.71 million burden hours (using the

PWBA methodology) to 8.46 million

burden hours (using the IRS

methodology) for preparing the Form

5500 Series (including schedules) and

sending it to the government.

Both the IRS and the PWBA

methodologies exclude certain activities

from the calculation of ‘‘burden.’’ If the

activity is performed for any reason

other than compliance with the federal

tax administration system (in the case of

the IRS method) or the Title I annual

reporting requirements (in the case of

the PWBA method), it was not counted

as part of the paperwork burden. For

example, most businesses or financial

entities maintain, in the ordinary course

of business, detailed accounts of assets

and liabilities, and income and

expenses for the purposes of operating

the business or entity. In addition, the

activity is only counted as a burden

once if performed for both tax and Title

I purposes. These recordkeeping

activities were not included in the

calculation of burden because prudent

business or financial entities normally

have that information available for

reasons other than federal tax or Title I

annual reporting. Only time for

gathering and processing information

associated with the tax/annual reporting

systems, and learning about the law,

was included.

Three major differences exist between

the IRS and PWBA methodologies. First,

the IRS uses a methodology developed

for estimating the paperwork burden

imposed on individual and business

taxpayers as a result of the federal tax

return system to calculate burdens

associated with the Form 5500

information return. The details and time

estimates of PWBA’s methodology were

developed specifically for the Form

5500 Series. Second, the IRS includes

burden figures for learning about

statutory tax reporting requirements and

certain tax-related recordkeeping (e.g.,

depreciation accounting) in its estimate.

PWBA has concluded plan

administrators’ obligations to keep

financial records necessary to complete

the Department of Labor portions of the

Form 5500 result from usual and

customary management practices for

any financial entity, not as a result of

ERISA annual reporting requirements.
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The Department of Labor solicits

comments on whether or not any

recordkeeping beyond that which is

usual and customary is necessary to

complete the Department of Labor

portions of the Form 5500. PWBA has

also designed the instruction package

for the Form 5500 so that filers generally

will be able to complete the Labor

Department portions of the Form 5500

by reading the instructions without

needing to refer to the statute or

regulations. The Labor Department

solicits comments on whether the Form

5500 instructions are generally

sufficient to enable filers to complete

the Labor Department portions of the

Form 5500 without needing to refer to

the statute or regulations. PWBA,

therefore, has included a burden for

reading the instructions in its PRA

calculations, and finds there is no

recordkeeping burden attributable to the

Form 5500 Series. Third, PWBA does

not include burdens for completing the

Schedule E (ESOP Annual Information);

Schedule F (Fringe Benefit Plan Annual

Information) and Schedule P (Annual

Return of Fiduciary of Employee Benefit

Trust) because these are exclusively IRS

schedules. The different methodologies

and the IRS inclusion of burden for

learning about the law, tax

recordkeeping, and Schedules E, F and

P, result in the Agencies having

different total burden estimates.

Presented below is a chart showing the

total burden of the streamlined Form

5500 Series (including schedules) using

the PWBA and IRS methodologies.

DOL AND IRS ESTIMATES OF TOTAL ANNUAL BURDEN HOURS

Agency

Preparing/Filing the Form

5500 Series

(including

reading instructions)

Learning The Law Necessary To Complete

The Form 5500 Series

Recordkeeping Necessary to Complete the

Form 5500 Series

Total Annual

Burden Hours

IRS ............... 8,458,478 6,544,940 ......................................................... 33,682,567 ....................................................... 1 48,686,004

DOL .............. 2 1,706,550 Legal rules are described in the Form 5500

instructions so filers do not need to refer to

statute or regulations to complete DOL portions of the Form 5500.

Financial records needed to complete DOL

portions of Form 5500 are kept as usual

and customary business practice not solely

to complete the Form 5500.

2 1,706,550

1This does not equal the total of the other three IRS columns due to rounding.

2This does not include IRS Schedules E, F and P.

There is no separate PBGC entry on

the chart because, as explained below,

its share of the paperwork burden is

very small relative to that of IRS and

DOL.

Paperwork and Respondent Burden

So that interested parties may better

understand the burden associated with

this information collection, the

Agencies are presenting information on

how they estimate burden. These

burden estimates vary according to the

Agencies’ respective statutory

authorities to collect information via

questions in the Form 5500 Series, the

information collections for which they

are responsible, the methodologies they

use, and the categories of burden they

measure. Based on the Agencies’ burden

estimates, and taking into account

differences in statutory responsibility

and methodology, the proposed revision

to the Form 5500 Series is estimated to

reduce total burden by 12 to 13.6

percent annually over the 10-year life of

the form.

Department of Labor

Burden Estimation Methodology: The

DOL uses a matrix involving a series of

mathematical calculations to estimate

burdens associated with preparing,

sending and learning about the Form

5500 Series report. Burden hour

calculations are determined by

identifying groups of plans within the

universe of filers that have similar

reporting requirements and grouping

them into categories based on those

annual reporting requirements. Under

the current estimating scheme, the

universe is divided into three basic plan

types: defined benefit pension plans,

defined contribution pension plans, and

welfare plans. Each of these major plan

types is then further subdivided into

multiemployer and single-employer

plans, and within multiemployer and

single-employer plans into self-insured

plans, fully insured plans, and splitfunded plans. Since the filing

requirements differ substantially for

smaller and larger plans, the plan types

are further divided by plan size. For

smaller plans (those with fewer than

100 participants) the multiemployer/

single-employer distinction is not

retained because there are so few small

multiemployer plans. Thus, for larger

plans, calculations are prepared for

fifteen different plan types, and for

smaller plans, calculations are prepared

for nine different plan types.

In addition to separating plans by

type and size, to make the burden hour

calculations manageable and more

meaningful, individual questions on the

form are grouped by the type of

information requested. The grouping of

items include the following categories:

(1) Instructions and plan identification

information; (2) plan operation

information; (3) financial/fiduciary

information; (4) plan qualification and

tax information; (5) minimum funding

questions; (6) plan assets with financial

schedules (including Schedules C and

G); (7) Schedule A; (8) Schedule B; and

(9) Schedule SSA.

Each group of related items is

reviewed and an estimate of the time

needed to complete that group is

developed. When items in a category are

required by more than one Agency, the

estimated time required by each type of

plan filing is allocated among the

Agencies for that particular category of

items. This allocation is based on

whether only a single item in a group

is required by more than one agency or

whether several or all of the items are

required by more than one agency.

Since filers must read not only the

instruction to particular categories but

also general instructions pertaining to

the general filing requirements for small

and large plans, a burden is assessed for

the instructions on the particular group

and as a whole. This burden is included

within the plan identification category.

This methodology is designed to

approximate the burden actually

imposed on filers. Thus, a plan’s

reporting burden is defined in terms of

the specific items and schedules it must

comply with and will depend on its

size, funding method and investment

structures. On the average, it is

estimated that the total completion time

of the proposed Form 5500 Series in its
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first year will range from 1.12 hours per

plan for the simplest Form 5500 report

to 4.55 hours per plan for the most

complex Form 5500 filing. For example,

the annual report for a large fully

insured welfare plan not subject to

Internal Revenue Code section 6039D

would consist of only a few questions

on Form 5500 and a Schedule A

(Insurance Information). The

requirement that this plan provide very

limited information on the Form 5500

would be reflected in the estimates of

reporting burden time. By contrast, a

large defined benefit pension plan

intended to be tax qualified and

utilizing a trust fund and investing in

insurance contracts would submit an

annual report completing almost all the

line items of the Form 5500, plus

Schedules A (Insurance Information),

Schedule B (Actuarial Information),

Schedule C (Service Provider

Information), Schedule D (DFE/

Participating Plan Information),

Schedule FIN (Financial Statements),

Schedule PEN (Pension Plan

Information), Schedule Q (Qualified

Pension Plan Information), and the

independent accountant’s report. The

Department’s methodology attempts to

capture, through its categorization, these

different reporting burdens, while

remaining general and manageable

enough to provide meaningful estimates

of the characteristics of the reporting

scheme which lead to significant

differences in the burdens placed on

different types of filers. As noted above,

PWBA has not attributed a

recordkeeping burden to the Form 5500

in its Paperwork Reduction Act analysis

because it has concluded that plan

administrators’ obligations to keep

financial records necessary to complete

the Department of Labor portions of the

Form 5500 result from usual and

customary management practices for

any financial entity, not as result of

ERISA annual reporting requirements.

Under the forms revisions the

reduction in the Department of Labor

burden for the 1998 reporting year

results from (1) adjustments (changes in

the Paperwork Reduction Act regarding

calculation of burden hours vs. costs

and changes in assumptions used in

prior year calculations) and (2) program

changes (revised information reporting

requirements). On the basis of the above

methodology, approximately 1,706,550

(in its initial year) and 1,329,471 (in

subsequent years) total hours will be

needed to complete all information

items on the annual reports required by

all three Agencies and the Social

Security Administration. Of this total,

752,555 (initial year) and 566,462

(subsequent years) burden hours have

been allocated to DOL.

Estimated Time per Response, Estimated Burden Hours, Total Annual Burden (per DOL methodology and based

on 801,934 respondents.):

[Figures are in hours, unless otherwise specified]

Year 1 Year 2 Year 3

Time per response range (completion of entire form) 1 ..................................................................... 1.12–4.55 .55–4.55 .55–4.55

Time per response range (completion of DOL portion of form) ........................................................ .67–1.88 .39–1.88 .39–1.88

Total burden hours 1 ................................................................................................................ 1,706,550 1,329,471 1,329,471

Total DOL burden hours .......................................................................................................... 752,555 566,462 566,462

Total burden hour cost range (millions) 1 2 .............................................................................. $90.4–99.0 $82.9–89.5 $82.9–89.5

Total DOL burden hour cost range (millions) .......................................................................... $29.0–32.8 $25.3–28.1 $25.3–28.1

1This does not include IRS Schedules E, F and P.

2This includes the start-up costs associated with upgrading automated systems to accommodate the new Form. These costs have been distributed pro-rata over the expected ‘‘life’’ of the new Form, 10 years.

Estimated Share of Total Form 5500

Series Preparation Burden: 44 percent

(initial year) and 43 percent in

subsequent years.

Estimated Reduction in Burden Due

to Streamlining Project: 12 percent

annually over the estimated 10-year life

of the Form; this figures includes an

increase in burden in the first year due

to start-up costs and system changes to

adjust to the new form.

Department of the Treasury

Burden Estimation Methodology:

IRS’s estimates of business taxpayer

burden are calculated using a series of

mathematical models that were

developed from regression analysis of

survey data on the amount of time that

partnerships, corporations, and their

paid tax preparers spend performing

activities that are necessary to meet tax

filing requirements. These activities,

which correspond to the Paperwork

Reduction Act’s definition of burden (44

U.S.C. 3502(2)), are: (1) Recordkeeping,

(2) learning about tax law, (3) preparing

tax forms, and (4) copying, assembling,

and sending tax forms to IRS. A burden

equation for each activity takes into

account basic characteristics of tax

forms and instructions, form and line

usage by taxpayers, and characteristics

of the taxpayer populations using the

forms. Certain activities, however, have

been excluded from the definition of

burden. If the activity is performed for

any reason other than compliance with

the federal tax administration system, it

is not counted as part of the tax

paperwork burden. For example, most

businesses maintain detailed accounts

of income and expenses, and profit and

loss, for the purpose of operating the

business. These recordkeeping activities

were not included in the definition of

burden, despite the fact that there are

some businesses, particularly those

which do not borrow funds from banks,

that prepare this type of information

only to meet business tax requirements.

Prudent businesses normally have that

information available for reasons other

than federal taxes. Only the time for

gathering and processing information

associated solely with the tax system,

such as depreciation accounting and the

review of tax returns prepared by

professional tax advisors, was included.

The data used to construct the burden

models for business taxpayers were

obtained from a survey of 4,000

corporations and partnerships and their

paid tax preparers. These businesses

were sent a questionnaire that requested

information on how much time they

spent performing activities that they

undertook for the express purpose of

meeting their tax filing requirements.

Multiple linear regression analysis was

used to identify variables that correlated

with time spent on taxes. Through

careful model specification, more than

100 variables that were likely to have a

causal relation with time spent were

tested. Some of the predictor variables

in the final burden models include (for

a given form): (1) The total number of
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46565

annual taxpayer responses filed, (2) the

fraction of taxpayers using paid

preparers, (3) the total number of line

items on the form, (4) the total number

of references to the Internal Revenue

Code and regulations appearing on the

form and its instructions, and (5) the

total number of attachments requested

that are IRS forms. The accuracy of the

burden estimates that result from the

models reflect the quality of survey data

obtained from taxpayers. While every

effort was made to obtain valid burden

information from a representative

sample of taxpayers, the accuracy of the

data depended on their ability and

conscientiousness in reporting

accurately their tax activity times.

The business burden models predict

by type of activity (i.e., recordkeeping,

learning, obtaining materials, locating/

using a preparer, preparing, sending)

and by preparer (paid vs. self) the

average business taxpayer paperwork

burden to file a given form. The total

burden for all business taxpayers filing

the form is obtained by summing the

burden over all activities, which results

in the total burden for each taxpayer,

and then multiplying by the total

number of taxpayer responses submitted

during the tax year. It should be

emphasized that the taxpayer burden

models predict the average paperwork

burden borne by the population that file

a given form. For any form, the

distribution of time burden across the

filing population may vary

considerably. For example, the size of

the business completing the form or the

complexity of its tax situation will have

a direct bearing on the amount of time

spent. This is especially true for the

Form 5500 burden estimates, since large

plans will complete different portions of

the schedules for Form 5500 and will

therefore have a different paperwork

burden than small plans. The burden

models necessarily represent a

substantial simplification of a very

complex situation involving the

interaction of the tax system and diverse

income and revenue generating tax

entities.

Estimated Time per Response,

Estimated Burden Hours, Total Annual

Burden (per IRS methodology and based

on 901,400 respondents):

The time needed to complete and file

the forms listed below reflects the

combined requirements of the IRS,

Department of Labor, Pension Benefit

Guaranty Corporation, and the Social

Security Administration as calculated

by the IRS using the IRS methodology.

These times will vary depending on

individual circumstances. The

estimated average times are:

Recordkeeping Learning about the

law or the form Preparing the form

Copying, assembling, and sending

the form

Total time per responseTotal annual

burden hours

Form 5500 ............. 11 hr 14 min ......... 5 hr 26 min ........... 6 hr 47 min ........... 16 min ................... 23 hr 43 min ......... 21,381,208

Sch A ..................... 17 hr 56 min ......... ............................... 17 min ................... ............................... 18 hr 14 min ......... 4,521,787

Sch B Part 1 .......... 30 hr 37 min ......... 3 hr 16 min ........... 3 hr 55 min ........... ............................... 37 hr 48 min ......... 3,402,000

Sch B Part 2 .......... 16 hr 1 min ........... 1 hr 23 min ........... 1 hr 43 min ........... ............................... 19 hr 7 min ........... 57,360

Schedule C ............ 4 hr 47 min ........... ............................... 5 min ..................... ............................... 4 hr 52 min ........... 486,000

Schedule D ............ 2 hr 23 min ........... ............................... 2 min ..................... ............................... 2 hr 26 min ........... 10,935

Sch E (Non-leveraged).1 hr 12 min ........... 12 min ................... 13 min ................... ............................... 1 hr 37 min ........... 8,100

Schedule E (Leveraged).10 hr 2 min ........... 1 hr 41 min ........... 1 hr 56 min ........... ............................... 13 hr 39 min ......... 27,320

Schedule F ............ 2 hr 52 min ........... 24 min ................... 28 min ................... ............................... 3 hr 44 min ........... 208,880

Schedule G ............ 9 hr 49 min ........... 24 min ................... 34 min ................... ............................... 10 hr 47 min ......... 6,993

Schedule P ............ 1 hr 55 min ........... 30 min ................... 33 min ................... ............................... 2 hr 58 min ........... 2,095,680

Sch PEN I .............. 2 hr 52 min ........... ............................... 3 min ..................... ............................... 2 hr 55 min ........... 627,800

Sch PEN II ............. 9 hr 34 min ........... ............................... 9 min ..................... ............................... 9 hr 43 min ........... 1,535,950

Sch Q ..................... 11 hr 43 min ......... 3 hr 53 min ........... 4 hr 14 min ........... ............................... 19 hr 50 min ......... 1,408,833

Sch FIN .................. 32 hr 17 min ......... 53 min ................... 1 hr 28 min ........... ............................... 34 hr 38 min ......... 2,355,520

Sch FIN–SP ........... 9 hr 5 min ............. 42 min ................... 53 min ................... ............................... 10 hr 40 min ......... 8,550,938

Sch SSA ................ 5 hr 30 min ........... 6 min ..................... 11 min ................... ............................... 5 hr 47 min ........... 2,000,700

Total ................... ............................... ............................... ............................... ............................... ............................... 48,686,004

Estimated Share of Total Form 5500

Series Burden: 56%.

Estimated Reduction in Burden Due

to Streamlining Project: 13.6%.

Pension Benefit Guaranty Corporation

Burden Estimation Methodology:

PBGC’s share of the Form 5500

paperwork burden is very small relative

to that of IRS and DOL. The paperwork

burden allocated to PBGC includes a

portion of the general instructions, basic

plan identification information, a

portion of Schedule B, and item 10 on

Schedule PEN.

PBGC follows DOL’s methodology for

computing estimates of its share of the

Form 5500 paperwork burden. To

estimate the PBGC-allocated burden

associated with the general instructions

and plan identification items, PBGC

simply applies its applicable percentage

to the burden estimates computed by

DOL.

PBGC shares a portion of the burden

associated with Schedule B with IRS. To

estimate the PBGC-allocated burden

associated with the shared items on

Schedule B, PBGC modifies the burden

estimates computed by IRS so that they

conform to the DOL methodology, and

simply applies its applicable percentage

to the modified burden estimate.

Estimated Share of Total Form 5500

Series Burden: 18,600 hours and $2.6

million dollars per year.

Estimated Reduction in Burden Due

to Streamlining Project: The PBGC’s

share of Form 5500 burden is higher

than in previous years because the

Agencies have increased PBGC’s

percentage of the overall burden to more

accurately reflect PBGC’s use of Form

5500 information. In particular, PBGC

has been allocated a larger share of

Schedule B burden than in the past

because of PBGC’s concern with plan

funding. Thus, although some PBGCrelated items have been eliminated from

the streamlined Form 5500, PBGC’s

share of the Form 5500 burden is higher

than when it was last reported in 1994.

Request for Comments

In addition to the specific questions

throughout this notice, the Agencies are

particularly interested in comments

that:

• Evaluate whether the proposed

collection of information is appropriate

for the type of disclosure required of the

respondents, including whether the

information will have practical utility;
46566 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices

• Evaluate the accuracy of the

agency’s estimate of the burden of the

proposed collection of information,

including the validity of the

methodology and assumptions used

(which appear above);

• Propose ways to enhance the

quality, utility, and clarity of the

information to be collected; and

• Propose ways to minimize the

burden of the collection of information

on those who are to respond, including

through the use of appropriate

automated, electronic, mechanical, or

other technological collection

techniques or other forms of information

technology, e.g., permitting electronic

submissions of responses.

In addition, the Agencies are

interested in comments that:

• Evaluate the Agencies’ respective

burden estimation methodologies;

• Assess the need for and accuracy of

the IRS’s and Department of Labor’s

respective estimates of recordkeeping

and learning about the law burdens

attributable to this filing requirement;

and

• Estimate capital or start-up costs

and costs of operation, maintenance,

and purchase of services to comply with

this filing requirement.

Comments submitted in response to

this notice will be summarized and

included in the request for Office of

Management and Budget approval of the

information collection request. All

comments will become a matter of

public record.

Statutory Authority

Accordingly, pursuant to the

authority in sections 101, 103, 104, 109,

and 4065 of ERISA, and sections 6039D

and 6058 of the Code, it is proposed that

the Form 5500 Series Annual Return/

Report Forms and the instructions

thereto be revised as set forth below.

Signed at Washington, D.C. this 21st day of

August, 1997.

Olena Berg,

Assistant Secretary, Pension and Welfare

Benefits Administration, U.S. Department of

Labor.

Evelyn A. Petschek,

Assistant Commissioner, Employee Plans and

Exempt Organizations, Internal Revenue

Service.

David M. Strauss,

Executive Director, Pension Benefit Guaranty

Corporation.

BILLING CODE 4510–29–P
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46624 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46625
46626 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46627
46628 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46629
46630 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46631
46632 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46633
46634 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46635
46636 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46637
46638 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46639
46640 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46641
46642 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46643
46644 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46645
46646 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46647
46648 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46649
46650 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46651
46652 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46653
46654 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46655
46656 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46657
46658 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46659
46660 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46661
46662 Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices
Federal Register / Vol. 62, No. 170 / Wednesday, September 3, 1997 / Notices 46663

[FR Doc. 97–22878 Filed 9–2–97; 8:45 am]

BILLING CODE 4510–29–C