Agency information collection activities: Proposed collection; comment request,
[Federal Register: July 10, 1998 (Volume 63, Number 132)]
[Notices]
[Page 37418-37419]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr10jy98-130]
[[Page 37418]]
DEPARTMENT OF LABOR
Pension and Welfare Benefits Administration
Proposed Extension of Information Collection Request Submitted for Public Comment and Recommendations; Delinquent Filer Voluntary Compliance Program
ACTION: Notice.
SUMMARY: The Department of Labor, as part of its continuing effort to reduce paperwork and respondent burden, conducts a preclearance consultation program to provide the general public and Federal agencies with an opportunity to comment on proposed and/or continuing collections of information in accordance with the Paperwork Reduction Act of 1995 (PRA 95) (Pub. L. 104-13, 44 U.S.C. Chapter 35). This program helps to ensure that requested data can be provided in the desired format, reporting burden (time and financial resources) is minimized, collection instruments are clearly understood, and the impact of collection requirements on respondents can be properly assessed. Currently, the Pension and Welfare Benefits Administration is soliciting comments concerning the proposed extension of a currently approved collection of information, the Delinquent Filer Voluntary Compliance Program. A copy of the proposed information collection request (ICR) can be obtained by contacting the individual listed below in the addresses section of the notice.
DATES: Written comments must be submitted to the office listed in the addresses section below on or before September 8, 1998. The Department of Labor is particularly interested in comments which:
‹bullet› Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility;
‹bullet› Evaluate the accuracy of the agency's estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used;
‹bullet› Enhance the quality, utility, and clarity of the information to be collected; and
‹bullet› Minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., permitting electronic submissions of responses.
ADDRESSES: Gerald B. Lindrew, Office of Policy and Research, U.S. Department of Labor, Pension and Welfare Benefits Administration, 200 Constitution Avenue, Room N-5647, Washington, DC 20210. Telephone: 202- 219-4782 (this is not a toll-free number). Fax: 202-219-4745.
SUPPLEMENTARY INFORMATION:
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Background
The Secretary of Labor has the authority, under section 502(c)(2) of the Employee Retirement Income Security Act of 1974 (ERISA), to assess civil penalties of up to $1,000 a day against plan administrators who fail or refuse to file complete and timely annual reports (Form 5500 Series Annual Return/Reports) as required under section 101(b)(4) of ERISA and the Secretary's regulations codified in 29 CFR part 2520. Pursuant to 29 CFR 2560.502c-2 and 2570.60 et seq., PWBA has maintained a program for the assessment of civil penalties for noncompliance with the annual reporting requirements. Under this program, plan administrators filing annual reports after the date on which the report was required to be filedmay be assessed $50 per day for each day an annual report is filedafter the date on which the report(s) was required to be filed, without regard to any extensions for filing. Plan administrators who fail to file an annual report may be assessed a penalty of $300 per day, up to $30,000 per year, until a complete annual report is filed. Penalties are applicable to each annual report required to be filedunder Title I of ERISA. The Department may, in its discretion, waive all or part of a civil penalty assessed under section 502(c)(2) upon a showing by the administrator that there was reasonable cause for the failure to file a complete and timely annual report.
The Department has determined that the possible assessment of the above described civil penalties may deter certain delinquent filers from voluntarily complying with the annual reporting requirements under Title I of ERISA. In an effort to encourage annual reporting compliance, therefore, the Department implemented the Delinquent Filer Voluntary Compliance (DFVC) Program (the Program) on April 27, 1995 (60 FR 20873). Under the Program, administrators otherwise subject to the assessment of higher civil penalties are permitted to pay reduced civil penalties for voluntarily complying with the annual reporting requirements under Title I of ERISA.
This ICR covers the requirement of providing data necessary to identify the plan along with the penalty payment. This data is the only means by which each penalty payment is associated with the relevant plan. With respect to most pension plans and welfare plans, the requirement is satisfied by sending, along with the penalty payment, a copy of the first page of the delinquent annual report, which under current procedures is sent to the IRS.
Under current procedures, certain pension plans for highly compensated employees, commonly called ``top hat'' plans, and apprenticeship plans may file a one-time statement in lieu of annual reports. With respect to such plans for information collection requirements of the Program are satisfied by sending a completed first page of an annual report form along with the penalty payment. The one- time statements are required to be sent to a different address within the Department. The Program is designed to allow the processing of all penalty payments at a single location within the Department.
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Current Actions
The Pension and Welfare Benefits Administration proposes to extend the currently approved ICR included in the Delinquent Filer Voluntary Compliance Program. This Program is intended to encourage, through the use of reduced civil penalties, delinquent plan administrators to comply with their annual reporting obligations under Title I of the ERISA. The only ICR included in the Program is the requirement of providing data necessary to identify the plan along with the penalty payment. The identifying data allows the penalty to be associated with the relevant plan. Participation of the Program has ranged from approximately 3,400 to 3,000 plans in each year since the Program was implemented.
Type of Review: Extension of a currently approved collection.
Agency: U.S. Department of labor, Pension and Welfare Benefits Administration.
Title: Delinquent Filer Voluntary Compliance Program.
OMB Number: 1210-0089.
Affected Public: Business or other for-profit; Not-for-profit institutions.
Frequency: On occasion.
Average Burden Hours/Minutes Per Response: 21 minutes.
Number of Respondents: 3,100.
Total Annual Responses: 3,100.
Total Annual Burden Hours: 1,085.
Comments submitted in response to this notice will be summarized and/or included in the request for OMB
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approval of the information collection request; they will also become a matter of public record.
Dated: July 7, 1998. Gerald B. Lindrew, Deputy Director, Pension and Welfare Benefits Administration, Office of Policy and Research.
[FR Doc. 98-18430Filed7-9-98; 8:45 am]
BILLING CODE 4510-29-M
