[Federal Register Volume 62, Number 73 (Wednesday, April 16, 1997)]
[Notices]
[Page 18673]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-9775]


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DEPARTMENT OF THE TREASURY


Submission to OMB for Review; Comment Request

April 4, 1997.
    The Department of Treasury has submitted the following public 
information collection requirement(s) to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Pub. L. 104-13. Copies of 
the submission(s) may be obtained by calling the Treasury Bureau 
Clearance Officer listed. Comments regarding this information 
collection should be addressed to the OMB reviewer listed and to the 
Treasury Department Clearance Officer, Department of the Treasury, Room 
2110, 1425 New York Avenue, NW., Washington, DC 20220.

Internal Revenue Service (IRS)

    OMB Number: 1545-1502.
    Form Number: IRS Forms 5304-SIMPLE, IRS Form 5305-SIMPLE, and 
Notice 97-6.
    Type of Review: Extension.
    Title: Savings Incentive Match Plan for Employees of Small 
Employers (SIMPLE) (Not Subject to the Designated Financial 
Institutions Rules) (5304-SIMPLE); Savings Incentive Match Plan for 
Employees of Small Employers (SIMPLE) (5305-SIMPLE); and
    Savings Incentive Match Plan for Employees of Small Employers 
(SIMPLE) (Notice 97-6).
    Description: Forms 5304-SIMPLE and 5305-SIMPLE are used by an 
employer to permit employees to make salary reduction contributions to 
a savings incentive match plan (SIMPLE IRA) described in Code section 
408(p). These forms are not to be filed with IRS, but to be retained in 
the employers' records as proof of establishing such a plan, thereby 
justifying a deduction for contributions made to the SIMPLE IRA. The 
data is used to verify the deduction.
    Notice 97-6 provides guidance for employers and trustees regarding 
how they can comply with the requirements of Code section 408(p) in 
establishing and maintaining a SIMPLE Plan, including information 
regarding the notification and reporting requirements under Code 
section 408.
    Respondents: Business and other for-profit, Individuals or 
households, Not-for-profit institutions.
    Estimated Number of Respondents/Recordkeepers: 600,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

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                                             5304-SIMPLE            5305-SIMPLE               Notice 97-6       
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Recordkeeping........................  3 hr., 38 min.........  3 hr., 38 min........  0 hr., 0 min.             
Learning about the law or the form...  2 hr., 26 min.........  2 hr., 26 min........  0 hr., 15 min.            
Preparing the form...................  47 min................  47 min...............  0 hr., 0 min.             
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    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 2,127,000 hours.
    Clearance Officer: Garrick Shear (202) 622-3869, Internal Revenue 
Service, Room 5571, 1111 Constitution Avenue, NW., Washington, DC 
20224.
    OMB Reviewer: Alexander T. Hunt (202) 395-7860, Office of 
Management and Budget, Room 10226, New Executive Office Building, 
Washington, DC 20503.
Lois K. Holland,
Departmental Reports, Management Officer.
[FR Doc. 97-9775 Filed 4-15-97; 8:45 am]
BILLING CODE 4830-01-P