A bill to relieve individuals with one-person Keogh plans from certain information reporting requirements imposed by the Secretary of the Treasury under the Tax Equity and Fiscal Responsibility Act of 1982.

Eliminates the requirement that individuals who are owner-employees with pension or profit-sharing plans (Keogh plans) must file a specified informational return (form 5500-c) in order to comply with certain provisions of the Internal Revenue Code.

Requires the Secretary of the Treasury to prescribe a simplified information return.