[Federal Register Volume 75, Number 114 (Tuesday, June 15, 2010)]
[Notices]
[Pages 33885-33886]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-14265]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 5498
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 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 5498, IRA Contribution Information.
DATES: Written comments should be received on or before August 16, 2010
to be assured of consideration.
ADDRESSES: Direct all written comments to Gerald Shields, Internal
Revenue Service, Room 6129, 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 Elaine
Christophe, (202) 622-3179, or at Internal Revenue Service, Room 6129,
1111 Constitution Avenue, NW., Washington, DC 20224, or through the
Internet, at [email protected].
SUPPLEMENTARY INFORMATION:
Title: IRA Contribution Information.
OMB Number: 1545-0747.
Form Number: 5498.
Abstract: Form 5498 is used by trustees and issuers to report
contributions to, and the fair market value of, an individual
retirement arrangement (IRA). The information on the form will be used
by IRS to verify compliance with the reporting rules under regulation
section 1.408-5 and to verify that the participant in the IRA has made
the contribution for which he or she is taking a deduction.
Current Actions: There are no changes being made to the form at
this time.
Type of Review: Extension of a currently approved collection.
[[Page 33886]]
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 25,000.
Estimated Number of Responses: 114,900,000.
Estimated Time per Respondent: 25 minutes.
Estimated Total Annual Burden Hours: 47,109,000.
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. 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; (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; and (e)
estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Approved: June 7, 2010.
Gerald Shields,
IRS Reports Clearance Officer.
[FR Doc. 2010-14265 Filed 6-14-10; 8:45 am]
BILLING CODE 4830-01-P