Proposed Collection; Requesting Comments on Notice 2021-57

Published date30 December 2021
Citation86 FR 74430
Record Number2021-28372
SectionNotices
CourtInternal Revenue Service,Treasury Department
Federal Register, Volume 86 Issue 248 (Thursday, December 30, 2021)
[Federal Register Volume 86, Number 248 (Thursday, December 30, 2021)]
                [Notices]
                [Pages 74430-74431]
                From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
                [FR Doc No: 2021-28372]
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                DEPARTMENT OF THE TREASURY
                Internal Revenue Service
                Proposed Collection; Requesting Comments on Notice 2021-57
                AGENCY: Internal Revenue Service (IRS), Treasury.
                ACTION: Notice and request for comments.
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                SUMMARY: The Internal Revenue Service, 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. The IRS is soliciting comments
                concerning Notice 2021-57, Funding relief for multiemployer defined
                benefit pension plans under the American Rescue Plan Act of 2021.
                DATES: Written comments should be received on or before February 28,
                2022 to be assured of consideration.
                ADDRESSES: Direct all written comments to Andres Garcia, Internal
                Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC
                20224. You must reference the information collection's title, form
                number, reporting or record-keeping requirement number, and OMB number
                in your comment.
                FOR FURTHER INFORMATION CONTACT: Requests for additional information or
                copies of the notice should be directed to Jon Callahan, (737) 800-
                7639, at Internal Revenue Service, Room 6526, 1111 Constitution Avenue
                NW, Washington, DC 20224, or through the internet at
                [email protected].
                SUPPLEMENTARY INFORMATION:
                 The IRS is currently seeking comments concerning the following
                information collection tools, reporting, and record-keeping
                requirements:
                 Title: Funding relief for multiemployer defined benefit pension
                plans under the American Rescue Plan Act of 2021.
                 OMB Number: 1545-2300.
                 Notice Number: 2021-57.
                 Abstract: The American Rescue Plan Act of 2021 (ARP), P.L. 117-2,
                sections 9701, 9702, and 9703 provide elective funding relief for
                multiemployer defined benefit pension plans to address the continued
                impact of COVID-19. This notice provides guidance for sponsors of
                multiemployer defined benefit pension plans on the elections under
                sections 9701 and 9702 of the ARP Act, and the relief provided under
                section 9703 of the ARP Act, relating to Internal Revenue Code (IRC)
                sections 431 and 432.
                 Current Actions: There is no change to the existing collection.
                 Type of Review: Extension of a currently approved collection.
                 Affected Public: Business or other for-profit organizations, and
                not-for-profit institutions.
                 Estimated Number of Responses: 937.
                 Estimated Time per Respondent: 58 minutes.
                 Estimated Total Annual Burden Hours: 896.
                 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:
                [[Page 74431]]
                (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: December 27, 2021.
                Jon R. Callahan,
                Tax Analyst.
                [FR Doc. 2021-28372 Filed 12-29-21; 8:45 am]
                BILLING CODE 4830-01-P
                

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