90 FR 158 pg. 40467 - Agency Collection Activities; Requesting Comments on Form 5306 Application for Approval of Prototype or Employer Sponsored Individual Retirement Account
Type: NOTICEVolume: 90Number: 158Page: 40467
Page: 40467FR document: [FR Doc. 2025-15713 Filed 8-18-25; 8:45 am]
Agency: Treasury Department
Sub Agency: Internal Revenue Service
Official PDF Version: PDF Version
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Agency Collection Activities; Requesting Comments on Form 5306 Application for Approval of Prototype or Employer Sponsored Individual Retirement Account
AGENCY:
Internal Revenue Service (IRS), Treasury.
ACTION:
Notice of information collection; request for comments.
SUMMARY:
In accordance with the Paperwork Reduction Act of 1995, the IRS is inviting comments on the information collection request outlined in this notice.
DATES:
Written comments should be received on or before October 20, 2025 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, or by email to pra.comments@irs.gov. Include OMB Control No. 1545-0390 in the subject line of the message.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or copies of this collection should be directed to Jason Schoonmaker, (801) 620-2128.
SUPPLEMENTARY INFORMATION:
The IRS, in accordance with the Paperwork Reduction Act of 1995 (PRA) (44 U.S.C. 3506(c)(2)(A)), provides the general public and Federal agencies with an opportunity to comment on proposed, revised, and continuing collections of information. This helps the IRS assess the impact and minimize the burden of its information collection requirements. 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.
Title: Form 5306 Application for Approval of Prototype or Employer Sponsored Individual Retirement Account.
OMB Number: 1545-0390.
Form Number: 5306.
Abstract: This application is used by employers who want to establish an individual retirement account trust to be used by their employees. The application is also used by banks and insurance companies that want to establish approved prototype individual retirement accounts or annuities. The data collected is used to determine if the individual retirement account trust or annuity contract meets the requirements of Code section 408(a), 408(b), or 408(c) so that the IRS may issue an approval letter.
Current Actions: There is no change to the paperwork burden previously approved by OMB.
Type of Review: Extension of a currently approved collection.
Affected Public: Business and other for-profit organizations.
Estimated Number of Respondents: 600.
Estimated Time per Respondent: 13 hours, 44 minutes.
Estimated Total Annual Burden Hours: 8,244.
Dated: August 14, 2025.
Jason M. Schoonmaker,
Tax Analyst.
[FR Doc. 2025-15713 Filed 8-18-25; 8:45 am]
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