[Federal Register Volume 61, Number 85 (Wednesday, May 1, 1996)]
[Notices]
[Pages 19332-19333]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-10830]



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DEPARTMENT OF THE TREASURY

Proposed Collection; Comment Request for Form 5329

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort

[[Page 19333]]

to reduce paperwork and respondent burden, invites the general public 
and other Federal agencies to take this opportunity to comment on 
proposed and/or continuing information collections, as required by the 
Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning 
Form 5329, Additional Taxes Attributable to Qualified Retirement Plans 
(Including IRAs), Annuities, and Modified Endowment Contracts.

DATES: Written comments should be received on or before July 2, 1996 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Garrick R. Shear, Internal 
Revenue Service, room 5571, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form(s) and instructions should be directed to Martha R. 
Brinson, (202) 622-3869, Internal Revenue Service, room 5571, 1111 
Constitution Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

    Title: Additional Taxes Attributable to Qualified Retirement Plans 
(Including IRAs), Annuities, and Modified Endowment Contracts.
    OMB Number: 1545-0203.
    Form Number: Form 5329.
    Abstract: This form is used to compute and collect taxes related to 
distributions from individual retirement arrangements (IRAs) and other 
qualified plans. These taxes are for excess contributions to an IRA, 
premature distributions from an IRA and other qualified retirement 
plans, excess accumulations in an IRA and excess distributions from 
qualified retirement plans. The data is used to help verify that the 
correct amount of tax has been paid.
    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: Individuals or households.
    Estimated Number of Respondents: 1,000,000.
    Estimated Time per Respondent: 4 hr. 49 min.
    Estimated Total Annual Burden Hours: 4,820,000.

Request for Comments

    Comments submitted in response to this notice will be summarized 
and/or included in the request for OMB approval. All comments will 
become a matter of public record. Comments are invited on: (a) Whether 
the collection of information is necessary for the proper performance 
of the functions of the agency, including whether the information shall 
have 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; and 
(d) ways to minimize the burden of the collection of information on 
respondents, including through the use of automated collection 
techniques or other forms of information technology.

    Approved: April 24, 1996.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 96-10830 Filed 4-30-96; 8:45 am]
BILLING CODE 4830-01-U