[Federal Register Volume 86, Number 104 (Wednesday, June 2, 2021)]
[Notices]
[Pages 29627-29628]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-11509]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 5305-SEP

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Internal Revenue Service (IRS), as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to take this opportunity to comment 
on information collections, as required by the Paperwork Reduction Act 
of 1995. The IRS is soliciting comments concerning Simplified Employee 
Pension-Individual Retirement Accounts Contribution Agreement.

DATES: Written comments should be received on or before August 2, 2021 
to be assured of consideration.

ADDRESSES: Direct all written comments to Kinna Brewington, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 
20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form and instructions should be directed to Martha R. 
Brinson, at (202) 317-5753, or at Internal Revenue Service, Room 6526, 
1111 Constitution Avenue NW, Washington, DC 20224, or through the 
internet at <a href="/cdn-cgi/l/email-protection#e4a98596908c85cab6caa6968d8a978b8aa48d9697ca838b92"><span class="__cf_email__" data-cfemail="074a6675736f6629552945756e69746869476e757429606871">[email protected]</span></a>.

SUPPLEMENTARY INFORMATION:
    Title: Simplified Employee Pension-Individual Retirement Accounts 
Contribution Agreement.
    OMB Number: 1545-0499.
    Form Number: 5305-SEP.
    Abstract: Form 5305-SEP is used by an employer to make an agreement 
to provide benefits to all employees under a Simplified Employee 
Pension (SEP) described in Internal Revenue Code section 408(k). This 
form is not to be filed with the IRS but is to be retained in the 
employer's records as proof of establishing a SEP and justifying a 
deduction for contributions to the SEP.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 100,000.
    Estimated Time per Respondent: 4hr., 57 mins.
    Estimated Total Annual Burden Hours: 495,000.
    The following paragraph applies to all of the collections of 
information covered by this notice:
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number.
    Books or records relating to a collection of information must be 
retained as long as their contents may become material in the 
administration of any internal revenue law. Generally, tax returns and 
tax return information are confidential, as required by 26 U.S.C. 6103.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. 
Comments will be of public record. Comments are invited on: (a) Whether 
the collection of information is necessary for the proper performance 
of the functions of the

[[Page 29628]]

agency, including whether the information has practical utility; (b) 
the accuracy of the agency's estimate of the burden of the collection 
of information; (c) ways to enhance the quality, utility, and clarity 
of the information to be collected; (d) ways to minimize the burden of 
the collection of information on or other forms of information 
technology; and (e) estimates of capital or start-up costs and costs of 
operation, maintenance, and purchase of services to provide 
information.

    Approved: May 26, 2021.
Martha R. Brinson,
Tax Analyst.
[FR Doc. 2021-11509 Filed 6-1-21; 8:45 am]
BILLING CODE 4830-01-P


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