ABLE Account Contribution Information and Distributions from ABLE Accounts

ICR 201711-1545-026

OMB: 1545-2262

Federal Form Document

IC Document Collections
ICR Details
1545-2262 201711-1545-026
Active 201504-1545-006
TREAS/IRS
ABLE Account Contribution Information and Distributions from ABLE Accounts
Reinstatement without change of a previously approved collection   No
Regular
Approved without change 04/30/2018
Retrieve Notice of Action (NOA) 03/21/2018
  Inventory as of this Action Requested Previously Approved
04/30/2021 36 Months From Approved
20,000 0 0
3,600 0 0
0 0 0

These forms will be used to report the contributions of Achieving a Better Life Experience (ABLE) accounts under IRC 529A. Any State or its agency or instrumentality that establishes and maintains a qualified ABLE program must file a Form 1099-QA (Distributions From ABLE Accounts), and/or establishes and maintains a qualified ABLE program must file (for each ABLE account), a Form 5498-QA (ABLE Account Contribution Information) with the Internal Revenue Service. IRS uses the information to verify compliance with the reporting rules and to verify that the recipient has included the proper amount of income on his or her income tax return.

US Code: 26 USC 529A Name of Law: Qualified Tuition Program
  
None

Not associated with rulemaking

  82 FR 57327 12/04/2017
83 FR 12461 03/21/2018
No

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 20,000 0 0 0 0 20,000
Annual Time Burden (Hours) 3,600 0 0 0 0 3,600
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Miscellaneous Actions
Yes
Miscellaneous Actions
This ICR has a change in burden due to potential violation of PRA. Although there is no overall change in burden for this Information Collection Request (ICR), we separated the burden into separate Information Collections (IC) in order to provide better clarity and transparency.

$2,000
No
    Yes
    Yes
No
No
No
Uncollected
Carmen García-Salgado 202 317-5762

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
03/21/2018


© 2024 OMB.report | Privacy Policy