The IRS is seeking comments on collection of information necessary for automatic enrollment in 403(b) plans under Revenue Ruling 2000-35. The IRS made the announcement on Feb. 26.
Revenue Ruling 2000-35 describes certain criteria that must be met before an employee’s compensation can be reduced and contributed to 403(b) plan if the employee does not actively elect to have compensation deferred into his or her account.
The IRS seeks comment on:
- whether collecting this information is necessary for the IRS to function properly, including whether the information has a practical use;
- estimates of capital or start-up costs and costs of operation, maintenance and purchase of services to provide the information;
- ways to enhance the quality, utility and clarity of the information to be collected; and
- how accurate its estimate is regarding whether collecting the information is too burdensome, and how to minimize the burden, including through the use of automated collection techniques or other forms of information technology.
Written comments are due by April 29.
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