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Federal Register / Vol. 86, No. 247 / Wednesday, December 29, 2021 / Rules and Regulations
calculations the burden of reading the instructions and find there is no recordkeeping burden attributable to the Form 5500 Annual Return/Report.
This PRA calculation does not include any burden related to Form M
1 changes related to reporting of participating employer information by plans and non-plan MEWAs that are required to file the Form M1 because those changes are not included in this document. Rather, for the 2021 Form 5500 reporting year, plan MEWAs, including those that offer or provide coverage for medical care, will continue to be required to provide participating employer information as a nonstandard attachment to the 2021 Form 5500
Annual Return/Report in substantially the same manner as has been required since the 2014 forms.
Note that to reflect OMBs preference that burden incurred by service
providers be reported as hour burden instead of cost burden, burden that has historically been included as cost burden has been included here as hour burden. This change led to an increase in reported hour burden and an offsetting decrease in cost burden.
A summary of paperwork burden estimates follows. As noted above, these estimates include the burden of the overall Form 5500 information collection and makes adjustments for the final instructions revisions included in this document.
Type of Review: Revision of existing collection.
Title: Annual Information Return/
Report of Employee Benefit Plan.
Affected Public: Individuals or households; Private SectorBusiness or other for-profit; Not-for-profit institutions.
Forms: Form 5500 and Schedules.

Total Respondents: 840,923.
Total Responses: 840,923.
Frequency of Response: Annually.
Estimated Total Burden Hours:
3,031,649.
Estimated Total Annualized Costs: $0.
The aggregate hour burden for the Form 5500 Annual Return/Report including schedules and short form is estimated to be 4.5 million hours annually shared between the DOL, IRS, and the PBGC. The hour burden reflects filing activities carried out directly by filers.
Presented below is a chart showing the total hour and cost burden of the revised Form 5500 Annual Return/
Report allocated to the DOL, including the changes to the DOL burden by these 2021 SECURE Act revisions.
DOL hours
Pension

Large Plans
Small Plans
Large Plans
Small Plans
Large Plans
Small Plans

895,570
931,031
1,064,998
64,616
1,960,568
995,647

DFEs
January 2013 Revision
2014 CSEC Revision
2021 SECURE Act Revision

70,103
646
2,371
2,313

Total

3,031,649

Welfare
Total

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3. Regulatory Flexibility Act The Regulatory Flexibility Act RFA 15 imposes certain requirements with respect to federal rules that are subject to the notice and comment requirements of section 553b of the Administrative Procedure Act 16 and are likely to have a significant economic impact on a substantial number of small entities. Unless the head of an agency certifies that a final rule is not likely to have a significant economic impact on a substantial number of small entities, section 604 of the RFA requires the agency to present a final regulatory flexibility analysis of the final rule.17
The Department prepared an Initial Regulatory Flexibility Analysis at the proposed rule stage. However, this final rule is focused only on a subset of the requirements proposed. The Department certifies that this final rule will not have a significant impact on a substantial number of small entities. Therefore, the
Title II of the Unfunded Mandates Reform Act of 1995 requires each federal agency to prepare a written statement assessing the effects of any federal mandate in a proposed or final agency rule that may result in an expenditure of $100 million or more adjusted annually for inflation with the base year 1995 in any one year by State, local, and tribal governments, in the aggregate, or by the private sector.18 For purposes of the Unfunded Mandates Reform Act, as well as Executive Order 12875,19 this final rule does not include any federal mandate that the DOL
expects would result in such expenditures by State, local, or tribal governments, or the private sector.

U.S.C. 1501 et seq. 1995.
the Intergovernmental Partnership, 58 FR 58093 Oct. 28, 1993.

U.S.C. 601 et seq. 1980.
U.S.C. 551 et seq. 1946.
17 5 U.S.C. 604 1980.
16 5

16:59 Dec 28, 2021

4. Unfunded Mandates Reform Act
18 2

15 5

VerDate Sep<11>2014

Department has not prepared a Final Regulatory Flexibility Analysis.

5. Federalism Statement Executive Order 13132 outlines fundamental principles of federalism, and requires the adherence to specific criteria by federal agencies in the process of their formulation and implementation of policies that have substantial direct effects on the States, the relationship between the national government and States, or on the distribution of power and responsibilities among the various levels of government.20 Federal agencies promulgating regulations that have federalism implications must consult with State and local officials and describe the extent of their consultation and the nature of the concerns of State and local officials in the preamble to the final rule.
In the DOLs view, this final rule would not have federalism implications because they would not have direct effects on the States, on the relationship between the national government and the States, or on the distribution of
19 Enhancing
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supra note 6.