IRS Checks Paperwork Burden for SEP and SIMPLE IRA Plans
Published Date: 10/8/2026
Notice
Summary
The IRS wants your thoughts on the paperwork needed for approving special retirement plans called Prototype SEP and SIMPLE IRA. If you run or help small businesses with these plans, this affects you! They’re checking if the forms are clear and not too much work, so send your comments by December 7, 2026. No changes to forms now, but your feedback could shape future updates.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Form 5306-A paperwork burden
If you sponsor a prototype SEP or SIMPLE IRA plan, you must use Form 5306-A to request IRS approval of the plan documents. The IRS estimates 6 respondents, each spending about 19 hours and 22 minutes, for a total of 116 annual burden hours. This collection is being extended with no changes to the form at this time.
Public comment deadline and disclosure
The IRS is inviting public comments on this information collection that must be received by December 7, 2026. All comments will become public record and viewable on relevant websites, so submitters are asked not to include confidential or sensitive personal information in their comments.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-20447, Transparency in Coverage
Starting soon, health plans and insurers must share clearer, easier-to-understand price info for medical services and drugs. This helps you see what in-network and out-of-network costs really look like, with more details and better updates. These changes affect most group and individual health plans and kick in with new reporting rules to make healthcare pricing more transparent and fair.
2026-20027, Trump Accounts
The IRS is rolling out new rules for Trump accounts, which affect trustees, beneficiaries, and donors. These rules cover how to set up accounts, automatic enrollment, and special contributions like qualified stock. Comments on these changes are open until November 30, 2026, so get ready to weigh in!
2026-20026, Trump Accounts
Starting September 30, 2026, the IRS is rolling out new temporary rules for Trump accounts, which work like special retirement accounts. The government will automatically set up your first Trump account, and there are new ways to contribute, including using qualified stock. These changes affect account trustees, beneficiaries, and donors, making it easier and clearer to manage and fund Trump accounts.
2026-18219, Car Loan Interest Deduction
This document contains final regulations regarding the deduction for certain taxpayers for an amount up to $10,000 of qualified passenger vehicle loan interest. This document also contains final regulations regarding new information reporting requirements for certain persons who, in a trade or business, receive from any individual interest aggregating $600 or more for any calendar year on a specified passenger vehicle loan, including applicable penalties for failures to file information returns or furnish payee statements as required. These regulations affect taxpayers that may deduct qualified passenger vehicle loan interest, and also persons subject to these information reporting requirements.
2026-17622, Federal Independent Dispute Resolution Operations; Correction
This document corrects typographical errors and omissions in the final rule that appeared in the June 4, 2026, Federal Register titled "Federal Independent Dispute Resolution Operations" (referred to hereafter as the "IDR final rule"). The effective date of the IDR final rule was August 3, 2026.
2026-11343, Trump Accounts; Hearing
The IRS is holding a public hearing on July 16, 2026, about new rules for opening Trump accounts. People interested in speaking must submit their topics by June 15, or the hearing gets canceled. These changes could affect how certain accounts are managed and reported, so stay tuned for updates that might impact your money and taxes.
Previous / Next Documents
Previous: 2026-20623, Notice of Permit Applications Received Under the Antarctic Conservation Act of 1978
The U.S. National Science Foundation got a permit request to study emperor penguins in Antarctica by safely capturing and tagging up to 35 penguins to learn about their oxygen and diving habits. People can share their thoughts on this research by November 9, 2026. This study helps protect penguins while letting scientists learn more about these amazing birds in their icy home.
Next: 2026-20625, Agency Information Collection Activities: Comment Request on the Burden Related to Excise Tax on Repurchase of Corporate Stock
The IRS wants your thoughts on the paperwork for a tax on companies buying back their own stock. This affects certain corporations who must fill out Form 7208 to report this excise tax. No changes to the form now, but comments are open until December 7, 2026, to help make the process easier and clearer without adding extra costs or hassle.