Common use of Paperwork Reduction Act Clause in Contracts

Paperwork Reduction Act. The collection of information contained in this revenue procedure has been reviewed and approved by the Office of Management and Budget in accordance with the Paperwork Reduction Act (44 U.S.C. 3507) under control number 1545-1673. 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. The collection of information in this revenue procedure is in sections 4.05, 6.02(5)(d), 6.05, 10.01, 10.02, 10.05-.07, 10.10-10.12, 11.02-11.04, 11.06-11.14, 13.01, section 2.01-2.07 of Appendix B, Appendix C, and Appendix E. This information is required to enable the Commissioner, Tax Exempt and Government Entities Division of the Internal Revenue Service to make determinations regarding the issuance of various types of closing agreements and compliance statements. This information will be used to issue closing agreements and compliance statements to allow individual plans to continue to maintain their tax qualified and tax-deferred status. As a result, favorable tax treatment of the benefits of the eligible employees is retained. The likely respondents are individuals, state or local governments, businesses or other for-profit institutions, nonprofit institutions, and small businesses or organizations. The estimated total annual reporting or recordkeeping burden is 76,222 hours. The estimated annual burden per respondent/recordkeeper varies from .5 to 45.5 hours, depending on individual circumstances, with an estimated average of 20.4 hours. The estimated number of respondents or recordkeepers is 3,745. The estimated frequency of responses is occasional. 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. DRAFTING INFORMATION The principal authors of this revenue procedure are Xxxxxxxx Xxxxxx and Xxxxx Xxxxxx of the Tax Exempt and Government Entities Division. For further information concerning this revenue procedure, please contact the Employee Plans’ taxpayer assistance telephone service at 0-000-000-0000 between 8:30 a.m. and 6:30 p.m., Eastern Time, Monday through Friday (a toll-free number). Xx. Xxxxxx and Mr. Xxxxxx xxx be reached at (000) 000-0000 (not a toll-free number). APPENDIX A OPERATIONAL FAILURES AND CORRECTION METHODS

Paperwork Reduction Act. The collection of information contained in this revenue procedure has been reviewed and approved by the Office of Management and Budget in accordance with the Paperwork Reduction Act (44 U.S.C. 3507) under control number 1545-1673. 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. The collection of information in this revenue procedure is in sections 4.054.06, 6.02(5)(d6.02(5)(c), 6.05, 10.01, 10.02, 10.05-.0710.05-10.07, 10.10-10.12, 11.02-11.02- 11.04, 11.0611.07-11.1411.13, 13.01, section 2.01-2.07 of Appendix B, Appendix C, and Appendix E. C. This information is required to enable the Commissioner, Tax Exempt and Government Entities Division of the Internal Revenue Service to make determinations regarding the issuance of various types of closing agreements and compliance statements. This information will be used to issue closing agreements and compliance statements to allow individual plans to continue to maintain their tax qualified and tax-deferred status. As a result, favorable tax treatment of the benefits of the eligible employees is retained. The likely respondents are individuals, state or local governments, businesses business or other for-for- profit institutions, nonprofit institutions, and small businesses or organizations. The estimated total annual reporting or and/or recordkeeping burden is 76,222 56,272 hours. The estimated annual burden per respondent/recordkeeper varies from .5 to 45.5 42.5 hours, depending on individual circumstances, with an estimated average of 20.4 113.11 hours. The estimated number of respondents or and/or recordkeepers is 3,7454,292. The estimated frequency of responses is occasional. 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. DRAFTING INFORMATION The principal authors of this revenue procedure are Xxxxxxxx Xxxxxx Xxxxx and Xxxxx Xxxxxx Xxxxxxx Xxxxxxx of the Tax Exempt and Government Entities Division. For further information concerning this revenue procedure, please contact the Employee Plans’ Plans taxpayer assistance telephone service at 0-000-000-0000 between 8:30 a.m. 1:30 and 6:30 3:30 p.m., Eastern Time, Monday through Friday Thursday at (a 000) 000-0000/4517. (These telephone numbers are not toll-free number). numbers.) Xx. Xxxxxx Xxxxx and Mr. Xxxxxx xxx Xx. Xxxxxxx may be reached at (000) 000-0000 (also not a toll-free number). APPENDIX A OPERATIONAL FAILURES AND CORRECTION METHODSCORRECTIONS UNDER VCS .01 General rule. This appendix sets forth Operational Failures relating to Qualified Plans and corrections under VCS in accordance with section 10.11. In each case, the method described corrects the Operational Failure identified in the headings below. Corrective allocations and distributions should reflect earnings and actuarial adjustments in accordance with section 6.02(4)(a). The correction methods in this appendix are acceptable under SCP and VCP (including VCS). Additionally, the correction methods and the earnings adjustment methods in Appendix B are acceptable under SCP and VCP (including VCS but not VCT). .02 Failure to properly provide the minimum top-heavy benefit under □ 416 of the Code to non-key employees. In a defined contribution plan, the permitted correction method is to properly contribute and allocate the required top-heavy minimums to the plan in the manner provided for in the plan on behalf of the non-key employees (and any other employees required to receive top-heavy allocations under the plan). In a defined benefit plan, the minimum required benefit must be accrued in the manner provided in the plan.

Paperwork Reduction Act. The collection of information contained in this revenue procedure has been reviewed and approved by the Office of Management and Budget in accordance with the Paperwork Reduction Act (44 U.S.C. 3507) under control number 1545-1673. 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. The collection of information in this revenue procedure is in sections 4.05, 6.02(5)(d), 6.05, 6.06, 10.01, 10.02, 10.05-.0710.05, 10.10-10.1210.06, 10.08, 11.02-11.04, 11.06-11.1411.12, 13.01, section 2.01-2.07 of Appendix B, Appendix C, and Appendix E. C. This information is required to enable the Commissioner, Tax Exempt and Government Entities Division of the Internal Revenue Service to make determinations regarding the issuance of various types of closing agreements and compliance statements. This information will be used to issue closing agreements and compliance statements to allow individual plans to continue to maintain their tax qualified and tax-deferred status. As a result, favorable tax treatment of the benefits of the eligible employees is retained. The likely respondents are individuals, state or local governments, businesses or other for-profit institutions, nonprofit institutions, and small businesses or organizations. The estimated total annual reporting or and/or recordkeeping burden is 76,222 56,272 hours. The estimated annual burden per respondent/recordkeeper varies from .5 to 45.5 42.5 hours, depending on individual circumstances, with an estimated average of 20.4 13.11 hours. The estimated number of respondents or and/or recordkeepers is 3,7454,292. The estimated frequency of responses is occasional. 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. DRAFTING INFORMATION The principal authors of this revenue procedure are Xxxxxxxx Xxxxxx Xxxxx and Xxxxx Xxxxxx Xxxxxxx Xxxxxxx of the Tax Exempt and Government Entities Division. For further information concerning this revenue procedure, please contact the Employee Plans’ taxpayer assistance telephone service at 0-000-000-0000 between 8:30 a.m. and 6:30 p.m., Eastern Time, Monday through Friday (a toll-free number). Xx. Xxxxxx Xxxxx and Mr. Xxxxxx xxx Xx. Xxxxxxx may be reached at (000) 000-0000 (not a toll-free number). APPENDIX A OPERATIONAL FAILURES AND CORRECTION METHODS

Paperwork Reduction Act. The collection of information contained in this revenue procedure has been reviewed and approved by the Office of Management and Budget in accordance with the Paperwork Reduction Act (44 U.S.C. 3507) under control number 1545-1673. 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. The collection of information in this revenue procedure is in sections 4.054.06, 6.02(5)(d6.02(5)(c), 6.05, 10.01, 10.02, 10.05-.0710.05-10.07, 10.10-10.12, 11.02-11.02- 11.04, 11.0611.07-11.1411.13, 13.01, section 2.01-2.07 of Appendix B, Appendix C, and Appendix E. C. This information is required to enable the Commissioner, Tax Exempt and Government Entities Division of the Internal Revenue Service to make determinations regarding the issuance of various types of closing agreements and compliance statements. This information will be used to issue closing agreements and compliance statements to allow individual plans to continue to maintain their tax qualified and tax-deferred status. As a result, favorable tax treatment of the benefits of the eligible employees is retained. The likely respondents are individuals, state or local governments, businesses business or other for-for- profit institutions, nonprofit institutions, and small businesses or organizations. The estimated total annual reporting or and/or recordkeeping burden is 76,222 56,272 hours. The estimated annual burden per respondent/recordkeeper varies from .5 to 45.5 42.5 hours, depending on individual circumstances, with an estimated average of 20.4 13.11 hours. The estimated number of respondents or and/or recordkeepers is 3,7454,292. The estimated frequency of responses is occasional. 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. DRAFTING INFORMATION The principal authors of this revenue procedure are Xxxxxxxx Xxxxxx Xxxxx and Xxxxx Xxxxxx Xxxxxxx Xxxxxxx of the Tax Exempt and Government Entities Division. For further information concerning this revenue procedure, please contact the Employee Plans’ taxpayer assistance telephone service at 0-000-000-0000 between 8:30 a.m. and 6:30 p.m., Eastern Time, Monday through Friday (a toll-free number). Xx. Xxxxxx Xxxxx and Mr. Xxxxxx xxx Xx. Xxxxxxx may be reached at (000) 000-0000 (not a toll-free number). APPENDIX A OPERATIONAL FAILURES AND CORRECTION METHODSCORRECTIONS UNDER VCS .01 General rule. This appendix sets forth Operational Failures relating to Qualified Plans and corrections under VCS in accordance with section 10.11. In each case, the method described corrects the Operational Failure identified in the headings below. Corrective allocations and distributions should reflect earnings and actuarial adjustments in accordance with section 6.02(4)(a). The correction methods in this appendix are acceptable under SCP and VCP (including VCS). Additionally, the correction methods and the earnings adjustment methods in Appendix B are acceptable under SCP and VCP (including VCS but not VCT). .02 Failure to properly provide the minimum top-heavy benefit under □ 416 of the Code to non-key employees. In a defined contribution plan, the permitted correction method is to properly contribute and allocate the required top-heavy minimums to the plan in the manner provided for in the plan on behalf of the non-key employees (and any other employees required to receive top-heavy allocations under the plan). In a defined benefit plan, the minimum required benefit must be accrued in the manner provided in the plan.

Paperwork Reduction Act. The collection of information contained in this revenue procedure has been reviewed and approved by the Office of Management and Budget in accordance with the Paperwork Reduction Act (44 U.S.C. 3507) under control number 1545-1673. 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. The collection of information in this revenue procedure is in sections 4.054.06, 6.02(5)(d6.02(5)(c), 6.05, 10.01, 10.02, 10.05-.0710.05-10.07, 10.10-10.12, 11.02-11.02- 11.04, 11.0611.07-11.1411.13, 13.01, section 2.01-2.07 of Appendix B, Appendix C, and Appendix E. C. This information is required to enable the Commissioner, Tax Exempt and Government Entities Division of the Internal Revenue Service to make determinations regarding the issuance of various types of closing agreements and compliance statements. This information will be used to issue closing agreements and compliance statements to allow individual plans to continue to maintain their tax qualified and tax-deferred status. As a result, favorable tax treatment of the benefits of the eligible employees is retained. The likely respondents are individuals, state or local governments, businesses business or other for-for- profit institutions, nonprofit institutions, and small businesses or organizations. The estimated total annual reporting or and/or recordkeeping burden is 76,222 56,272 hours. The estimated annual burden per respondent/recordkeeper varies from .5 to 45.5 42.5 hours, depending on individual circumstances, with an estimated average of 20.4 13.11 hours. The estimated number of respondents or and/or recordkeepers is 3,7454,292. The estimated frequency of responses is occasional. 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. DRAFTING INFORMATION The principal authors of this revenue procedure are Xxxxxxxx Xxxxxx Xxxxx and Xxxxx Xxxxxx Xxxxxxx Xxxxxxx of the Tax Exempt and Government Entities Division. For further information concerning this revenue procedure, please contact the Employee Plans’ taxpayer assistance telephone service at 0-000-000-0000 between 8:30 a.m. and 6:30 p.m., Eastern Time, Monday through Friday (a toll-free number). Xx. Xxxxxx Xxxxx and Mr. Xxxxxx xxx Xx. Xxxxxxx may be reached at (000) 000-0000 (not a toll-free number). APPENDIX A OPERATIONAL FAILURES AND CORRECTION METHODSCORRECTIONS UNDER VCS .01 General rule. This appendix sets forth Operational Failures relating to Qualified Plans and corrections under VCS in accordance with section 10.11. In each case, the method described corrects the Operational Failure identified in the headings below. Corrective allocations and distributions should reflect earnings and actuarial adjustments in accordance with section 6.02(4)(a). The correction methods in this appendix are acceptable under SCP and VCP (including VCS). Additionally, the correction methods and the earnings adjustment methods in Appendix B are acceptable under SCP and VCP (including VCS but not VCT).