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Federal Register / Vol. 86, No. 231 / Monday, December 6, 2021 / Notices
khammond on DSKJM1Z7X2PROD with NOTICES

rate for purposes of determining a plans funding obligations under 1.430h2
1. The information required under 1.4361f and 1.4361h is required in order for a qualified defined benefit plans enrolled actuary to provide a timely certification of the plans adjusted funding target attainment percentage AFTAP for each plan year to avoid certain benefit restrictions.
The Highway and Transportation Funding Act of 2014 HATFA, Public Law 113159, was enacted on August 8, 2014, and was effective retroactively for single employer defined benefit pension plans, optional for plan years beginning in 2013 and mandatory for plan years beginning in 2014.
Section 3608b of the Coronavirus Aid, Relief, and Economic Security Act CARES Act, Public Law 116136
provides that for purposes of applying 436 of the Code and 206g of ERISA, a sponsor of a single-employer defined benefit pension plan may elect to treat the plans adjusted funding target attainment percentage AFTAP
for the last plan year ending before January 1, 2020, as the AFTAP for plan years that include calendar year 2020.
Notice 202061, in part, provides guidance on the rules relating to this election.
Section 115a of the Setting Every Community Up for Retirement Enhancement Act of 2019 SECURE
Act, Division O of the Further Consolidated Appropriations Act, 2020, Public Law 11694, added new 430m to the Code to permit the plan sponsor of a community newspaper plan under which no participant has had an increase in accrued benefit after December 31, 2017 to elect to have alternative minimum funding standards apply to the plan in lieu of the minimum funding requirements that would otherwise apply under 430.
Pursuant to 430m2, any election under 430m will be made at such time and in such manner as prescribed by the Secretary, and once an election is made with respect to a plan year, it will apply to all subsequent plan years unless revoked with the consent of the Secretary. Notice 202060 provides guidance regarding this election.

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Notice 202148 provides guidance on the changes to the funding rules for single-employer defined benefit pension plans under 430 of the Code that were made by 9705 and 9706 of the the ARP, Public Law 1172. The ARP
added 430c8, respect to plan years beginning after December 31, 2021 or, at the election of the plan sponsor, plan years beginning after December 31, 2018, December 31, 2019, or December 31, 2020, the shortfall amortization bases for all plan years preceding the first plan year to which this provision applies and all shortfall amortization installments determined with respect to those bases are reduced to zero, and shortfall amortization installments for all new shortfall amortization bases are calculated to amortize each shortfall amortization base over 15 plan years.
In addition, 9706 of the ARP
provides changes to the applicable minimum and maximum percentages for the 24-month average segment rates set forth in the table in 430h2Civ II of the Code, effective with respect to plan years beginning after December 31, 2019. However, 9706c2 provides that a plan sponsor may elect not to have the amendments made by 9706
apply to any plan year beginning before January 1, 2022, either as specified in the election for all purposes or solely for purposes of determining the AFTAP
for the plan year. This notice provides guidance regarding the elections under 430c8 of the Code and 9706c2
of the ARP.
Current Actions: Notice 202148 will allow sponsors of single-employer defined benefit pensions access to plan funding relief granted by 9705 and 9706 of the American Rescue Plan ARP in response to the financial difficulties suffered by plan sponsors during the COVID19 pandemic.
Type of Review: Revision of a currently approved collection.
Affected Public: Individuals, business or other for-profit organizations, not-forprofit institutions and Federal, state, local or tribal governments.
TD 9467
Estimated Number of Respondents: 80,000.
Estimated Time per Respondent: 1.5 hrs.
Estimated Total Annual Burden Hours:
120,000.

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Notice: 202060
Estimated Number of Respondents: 1,000.
Estimated Time per Respondent: 1 hr.
Estimated Total Annual Burden Hours:
1,000.
Notice 202061
Estimated Number of Respondents: 20.
Estimated Time per Respondent: 4 hr.
Estimated Total Annual Burden Hours: 80.
Notice 202148
Estimated Number of Responses: 160,000.
Estimated Time per Respondent: 25 hr.
Estimated Total Annual Burden Hours:
40,000.

The following paragraph applies to all of the collections of information covered by this notice:
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 OMB control number.
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. Generally, tax returns and tax return information are confidential, as required by 26 U.S.C. 6103.
Request for Comments: Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval. Comments will be 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 has practical utility; b the accuracy of the agencys 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 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.
Approved: December 1, 2021.
Martha R. Brinson, Tax Analyst.
FR Doc. 202126411 Filed 12321; 8:45 am BILLING CODE 483001P

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