SECTION 8. PAPERWORK

REDUCTION ACT

The collections of information contained in this revenue procedure have been reviewed and approved by the Office of Management and Budget in accordance with the Paperwork Reduction Act (44 U.S.C. section 3507) under control number 1545–1769.

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 control number.

The collections of information in this revenue procedure are in sections 4.04, 4.05, and 4.06. This information is required to inform IRA owners and plan participants of the new rules applicable to their retirement savings. The likely respondents are (1) businesses or other for-profit institutions and (2) not-forprofit institutions.

The estimated total annual reporting burden is 7,371,000 hours.

The estimated annual burden per respondent varies from 0.1 hours to 1,000 hours, depending on individual circumstances, with an estimated average of 19.5 hours. The estimated number of respondents is 378,000.

The estimated annual frequency of responses is one.

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.

DRAFTING INFORMATION

The principal author of this revenue procedure is Roger Kuehnle of the Employee Plans, Tax Exempt and Government Entities Division. For further information regarding this revenue procedure, please contact Employee Plans’ taxpayer assistance telephone service at 1–877–829–5500 (a toll-free number), between the hours of 8:00 a.m. and 6:30 p.m. Eastern Time, Monday through Friday.

2002–4 I.R.B. 403 January 28, 2002