Instructions for Form 5307 - Notices

Privacy Act and Paperwork Reduction Act Notice.

We ask for the information on this form to carry out the Internal Revenue laws of the United States. Our legal right to ask for the information on this form is Internal Revenue Code sections 401(a), 501(a), and 6109, and their regulations. You are not required to obtain approval of the plan; however, if you apply for approval you are required to provide the information requested on this form. We need it to determine whether you meet the legal requirements for plan approval. Failure to provide the requested information may delay or prevent processing of your request. Providing false or fraudulent information may subject you to penalties.

We may disclose this information to the Department of Justice for civil or criminal litigation, and to cities, states, the District of Columbia, and U.S. commonwealths and possessions for use in administering their tax laws. We may disclose this information to the Department of Labor or the Pension Benefit Guarantee Agency for administration of ERISA. This information may be open to public inspection if the plan has over 25 plan participants. We may also disclose this information to other countries under a tax treaty, to Federal and state agencies to enforce Federal nontax criminal laws, or to Federal law enforcement and intelligence agencies to combat terrorism. You are not required to provide the information requested on a form that is subject to the Paperwork Reduction Act unless the form displays a valid OMB control number. Books or records relating to a form or its instructions must be retained as long as their contents may become material in the administration of any Internal Revenue law. Generally, tax returns and return information are confidential, as required by section 6103.

The time needed to complete and file this form will vary depending on individual circumstances. The estimated average time is:

  Form 5307
Recordkeeping 28 hr., 27 min.
Learning about the law or the form 7 hr., 28 min.
Preparing the form 13 hr., 51 min.
Copying, assembling, and sending the form to the IRS 1 hr., 36 min.

If you have comments concerning the accuracy of these time estimates or suggestions for making this form simpler, we would be happy to hear from you. You can send us comments from Click on “More Information” and then on “Give us feedback.” Or you can also send your comments to the Internal Revenue Service, Tax Forms and Publications Division, 1111 Constitution Ave. NW, IR-6526, Washington, DC 20224.

Do not send any of these forms or schedules to this address. Instead, see Where To File above.

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