The Internal Revenue Service (IRS) is seeking comments from the public and other federal agencies about certain forms used for applying for approval of standardized or nonstandardized pre-approved retirement plans. This request is part of an effort to reduce paperwork and respondent burden in compliance with the Paperwork Reduction Act of 1995. The IRS is particularly interested in feedback on the necessity, accuracy, and ways to improve the information collected, as well as methods to reduce the burden on respondents. Public comments are due by May 30, 2025, and all submitted comments will be part of the public record.
Simple Explanation
The IRS wants people to tell them what they think about some forms needed for approving retirement plans. They hope to make the forms easier to understand and use, so it's less work for everyone filling them out.