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Submission for OMB Review; Comment Request

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Information about this document as published in the Federal Register.

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Start Preamble November 22, 2002.

The Department of Treasury has submitted the following public information collection requirement(s) to OMB for review and clearance under the Paperwork Reduction Act of 1995, Public Law 104-13. Copies of the submission(s) may be obtained by calling the Treasury Bureau Clearance Officer listed. Comments regarding this information collection should be addressed to the OMB reviewer listed and to the Treasury Department Clearance Officer, Department of the Treasury, Room 11000, 1750 Pennsylvania Avenue, NW., Washington, DC 20220.

Dates: Written comments should be received on or before January 2, 2003 to be assured of consideration.

Internal Revenue Service (IRS)

OMB Number: 1545-0499.

Form Number: IRS Form 5305-SEP.

Type of Review: Extension.

Title: Simplified Employee Pension-Individual Retirement Accounts Contribution Agreement.

Description: This form is used by an employer to make an agreement to provide benefits to all employees under a Simplified Employee Pension (SEP) described in section 408(k). This form is not filed with the IRS but to be retained in the employer's records as proof establishing a SEP and justifying a deduction for contributions to the SEP. The data is used to verify the deduction.

Respondents: Business or other for-profit.

Estimated Number of Respondents/Recordkeepers: 100,000.

Estimated Burden Hours Per Respondent/Recordkeeper:

Recordkeeping1 hr., 40 min.
Learning about the law or the form1 hr., 35 min.
Preparing the form1 hr., 41 min.

Frequency of Response: On occasion.

Estimated Total Reporting/Recordkeeping Burden: 495,000 hours.

Clearance Officer: Glenn Kirkland, (202) 622-3428, Internal Revenue Service, Room 6411-03, 1111 Constitution Avenue, NW., Washington, DC 20224.

OMB Reviewer: Joseph F. Lackey, Jr., (202) 395-7316, Office of Management and Budget, Room 10235, New Executive Office Building, Washington, DC 20503.

Start Signature

Lois K. Holland,

Departmental Reports Management Officer.

End Signature End Preamble

[FR Doc. 02-30575 Filed 12-2-02; 8:45 am]