diff --git a/.chloggen/rmcfgid-1.yaml b/.chloggen/rmcfgid-1.yaml
new file mode 100755
index 00000000000..47459ee2d65
--- /dev/null
+++ b/.chloggen/rmcfgid-1.yaml
@@ -0,0 +1,11 @@
+# One of 'breaking', 'deprecation', 'new_component', 'enhancement', 'bug_fix'
+change_type: breaking
+
+# The name of the component, or a single word describing the area of concern, (e.g. otlpreceiver)
+component: config
+
+# A brief description of the change.  Surround your text with quotes ("") if it needs to start with a backtick (`).
+note: Remove deprecated `component.Config.[ID|SetIDName]`.
+
+# One or more tracking issues or pull requests related to the change
+issues: [4714]
diff --git a/.chloggen/rmcfgid-2.yaml b/.chloggen/rmcfgid-2.yaml
new file mode 100755
index 00000000000..9325e32431b
--- /dev/null
+++ b/.chloggen/rmcfgid-2.yaml
@@ -0,0 +1,11 @@
+# One of 'breaking', 'deprecation', 'new_component', 'enhancement', 'bug_fix'
+change_type: deprecation
+
+# The name of the component, or a single word describing the area of concern, (e.g. otlpreceiver)
+component: config
+
+# A brief description of the change.  Surround your text with quotes ("") if it needs to start with a backtick (`).
+note: Deprecate `config.[Extension|Exporter|Connector|Receiver|Processor]Settings`.
+
+# One or more tracking issues or pull requests related to the change
+issues: [6718]
diff --git a/component/componenttest/nop_component.go b/component/componenttest/nop_component.go
index ac56476e768..8c33bda828d 100644
--- a/component/componenttest/nop_component.go
+++ b/component/componenttest/nop_component.go
@@ -22,3 +22,5 @@ type nopComponent struct {
 	component.StartFunc
 	component.ShutdownFunc
 }
+
+type nopConfig struct{}
diff --git a/component/componenttest/nop_exporter.go b/component/componenttest/nop_exporter.go
index b0e3b1ee2a5..f1fcb49b78e 100644
--- a/component/componenttest/nop_exporter.go
+++ b/component/componenttest/nop_exporter.go
@@ -18,7 +18,6 @@ import (
 	"context"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/consumer/consumertest"
 	"go.opentelemetry.io/collector/exporter"
 )
@@ -31,19 +30,11 @@ func NewNopExporterCreateSettings() exporter.CreateSettings {
 	}
 }
 
-type nopExporterConfig struct {
-	config.ExporterSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
-}
-
 // Deprecated: [v0.67.0] use exportertest.NewNopFactory.
 func NewNopExporterFactory() exporter.Factory {
 	return exporter.NewFactory(
 		"nop",
-		func() component.Config {
-			return &nopExporterConfig{
-				ExporterSettings: config.NewExporterSettings(component.NewID("nop")),
-			}
-		},
+		func() component.Config { return &nopConfig{} },
 		exporter.WithTraces(createTracesExporter, component.StabilityLevelStable),
 		exporter.WithMetrics(createMetricsExporter, component.StabilityLevelStable),
 		exporter.WithLogs(createLogsExporter, component.StabilityLevelStable),
diff --git a/component/componenttest/nop_extension.go b/component/componenttest/nop_extension.go
index 0c49906375e..5866d66947e 100644
--- a/component/componenttest/nop_extension.go
+++ b/component/componenttest/nop_extension.go
@@ -18,7 +18,6 @@ import (
 	"context"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/extension"
 )
 
@@ -30,18 +29,12 @@ func NewNopExtensionCreateSettings() extension.CreateSettings {
 	}
 }
 
-type nopExtensionConfig struct {
-	config.ExtensionSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
-}
-
 // Deprecated: [v0.67.0] use extensiontest.NewNopFactory.
 func NewNopExtensionFactory() extension.Factory {
 	return extension.NewFactory(
 		"nop",
 		func() component.Config {
-			return &nopExtensionConfig{
-				ExtensionSettings: config.NewExtensionSettings(component.NewID("nop")),
-			}
+			return &nopConfig{}
 		},
 		func(context.Context, component.ExtensionCreateSettings, component.Config) (component.Extension, error) {
 			return nopExtensionInstance, nil
diff --git a/component/componenttest/nop_processor.go b/component/componenttest/nop_processor.go
index dcde10a85c6..d8db25d9707 100644
--- a/component/componenttest/nop_processor.go
+++ b/component/componenttest/nop_processor.go
@@ -18,7 +18,6 @@ import (
 	"context"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/consumer"
 	"go.opentelemetry.io/collector/consumer/consumertest"
 	"go.opentelemetry.io/collector/processor"
@@ -32,19 +31,11 @@ func NewNopProcessorCreateSettings() processor.CreateSettings {
 	}
 }
 
-type nopProcessorConfig struct {
-	config.ProcessorSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
-}
-
 // Deprecated: [v0.68.0] use processortest.NewNopFactory.
 func NewNopProcessorFactory() processor.Factory {
 	return processor.NewFactory(
 		"nop",
-		func() component.Config {
-			return &nopProcessorConfig{
-				ProcessorSettings: config.NewProcessorSettings(component.NewID("nop")),
-			}
-		},
+		func() component.Config { return &nopConfig{} },
 		processor.WithTraces(createTracesProcessor, component.StabilityLevelStable),
 		processor.WithMetrics(createMetricsProcessor, component.StabilityLevelStable),
 		processor.WithLogs(createLogsProcessor, component.StabilityLevelStable),
diff --git a/component/componenttest/nop_receiver.go b/component/componenttest/nop_receiver.go
index a4144181b13..e1479a05a0e 100644
--- a/component/componenttest/nop_receiver.go
+++ b/component/componenttest/nop_receiver.go
@@ -18,7 +18,6 @@ import (
 	"context"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/consumer"
 	"go.opentelemetry.io/collector/receiver"
 )
@@ -31,19 +30,11 @@ func NewNopReceiverCreateSettings() receiver.CreateSettings {
 	}
 }
 
-type nopReceiverConfig struct {
-	config.ReceiverSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
-}
-
 // Deprecated: [v0.67.0] use receivertest.NewNopFactory
 func NewNopReceiverFactory() receiver.Factory {
 	return receiver.NewFactory(
 		"nop",
-		func() component.Config {
-			return &nopReceiverConfig{
-				ReceiverSettings: config.NewReceiverSettings(component.NewID("nop")),
-			}
-		},
+		func() component.Config { return &nopConfig{} },
 		receiver.WithTraces(createTraces, component.StabilityLevelStable),
 		receiver.WithMetrics(createMetrics, component.StabilityLevelStable),
 		receiver.WithLogs(createLogs, component.StabilityLevelStable))
diff --git a/component/config.go b/component/config.go
index 4efc441b17c..6ffc0afca6c 100644
--- a/component/config.go
+++ b/component/config.go
@@ -29,15 +29,7 @@ import (
 // (e.g. check if a required field is present).
 //
 // A valid implementation MUST pass the check componenttest.CheckConfigStruct (return nil error).
-type Config interface {
-	// Deprecated: [v0.67.0] use Settings.ID.
-	ID() ID
-
-	// Deprecated: [v0.67.0] use Settings.ID.
-	SetIDName(idName string)
-
-	privateConfig()
-}
+type Config interface{}
 
 // As interface types are only used for static typing, a common idiom to find the reflection Type
 // for an interface type Foo is to use a *Foo value.
diff --git a/config/connector.go b/config/connector.go
index 5637b9b5901..9162fbe1fe1 100644
--- a/config/connector.go
+++ b/config/connector.go
@@ -18,17 +18,10 @@ import (
 	"go.opentelemetry.io/collector/component"
 )
 
-// ConnectorSettings defines common settings for a component.Connector configuration.
-// Specific connectors can embed this struct and extend it with more fields if needed.
-//
-// When embedded in the exporter config, it must be with `mapstructure:",squash"` tag.
-type ConnectorSettings struct {
-	settings
-}
+// Deprecated: [v0.68.0] will be removed soon, Config no longer requires to embed this.
+type ConnectorSettings struct{}
 
-// NewConnectorSettings return a new ConnectorSettings with the given ComponentID.
-func NewConnectorSettings(id component.ID) ConnectorSettings {
-	return ConnectorSettings{settings: newSettings(id)}
+// Deprecated: [v0.68.0] will be removed soon, Config no longer requires to embed this.
+func NewConnectorSettings(component.ID) ConnectorSettings {
+	return ConnectorSettings{}
 }
-
-var _ component.Config = (*ConnectorSettings)(nil)
diff --git a/config/exporter.go b/config/exporter.go
index c3981f5ba55..77dd3bbe209 100644
--- a/config/exporter.go
+++ b/config/exporter.go
@@ -18,17 +18,10 @@ import (
 	"go.opentelemetry.io/collector/component"
 )
 
-// ExporterSettings defines common settings for a component.Exporter configuration.
-// Specific exporters can embed this struct and extend it with more fields if needed.
-//
-// When embedded in the exporter config, it must be with `mapstructure:",squash"` tag.
-type ExporterSettings struct {
-	settings
-}
+// Deprecated: [v0.68.0] will be removed soon, Config no longer requires to embed this.
+type ExporterSettings struct{}
 
-// NewExporterSettings return a new ExporterSettings with the given ComponentID.
+// Deprecated: [v0.68.0] will be removed soon, Config no longer requires to embed this.
 func NewExporterSettings(id component.ID) ExporterSettings {
-	return ExporterSettings{settings: newSettings(id)}
+	return ExporterSettings{}
 }
-
-var _ component.Config = (*ExporterSettings)(nil)
diff --git a/config/extension.go b/config/extension.go
index a80503ab743..2c85bea3a98 100644
--- a/config/extension.go
+++ b/config/extension.go
@@ -13,21 +13,16 @@
 // limitations under the License.
 
 package config // import "go.opentelemetry.io/collector/config"
+
 import (
 	"go.opentelemetry.io/collector/component"
 )
 
-// ExtensionSettings defines common settings for a component.Extension configuration.
-// Specific processors can embed this struct and extend it with more fields if needed.
-//
-// When embedded in the extension config, it must be with `mapstructure:",squash"` tag.
+// Deprecated: [v0.68.0] will be removed soon, Config no longer requires to embed this.
 type ExtensionSettings struct {
-	settings
 }
 
-// NewExtensionSettings return a new ExtensionSettings with the given ID.
-func NewExtensionSettings(id component.ID) ExtensionSettings {
-	return ExtensionSettings{settings: newSettings(id)}
+// Deprecated: [v0.68.0] will be removed soon, Config no longer requires to embed this.
+func NewExtensionSettings(component.ID) ExtensionSettings {
+	return ExtensionSettings{}
 }
-
-var _ component.Config = (*ExtensionSettings)(nil)
diff --git a/config/processor.go b/config/processor.go
index 0c77c74d054..8e8ddce8ea9 100644
--- a/config/processor.go
+++ b/config/processor.go
@@ -13,21 +13,15 @@
 // limitations under the License.
 
 package config // import "go.opentelemetry.io/collector/config"
+
 import (
 	"go.opentelemetry.io/collector/component"
 )
 
-// ProcessorSettings defines common settings for a component.Processor configuration.
-// Specific processors can embed this struct and extend it with more fields if needed.
-//
-// When embedded in the processor config it must be with `mapstructure:",squash"` tag.
-type ProcessorSettings struct {
-	settings
-}
+// Deprecated: [v0.68.0] will be removed soon, Config no longer requires to embed this.
+type ProcessorSettings struct{}
 
-// NewProcessorSettings return a new ProcessorSettings with the given ComponentID.
-func NewProcessorSettings(id component.ID) ProcessorSettings {
-	return ProcessorSettings{settings: newSettings(id)}
+// Deprecated: [v0.68.0] will be removed soon, Config no longer requires to embed this.
+func NewProcessorSettings(component.ID) ProcessorSettings {
+	return ProcessorSettings{}
 }
-
-var _ component.Config = (*ProcessorSettings)(nil)
diff --git a/config/receiver.go b/config/receiver.go
index 08a70cb16ea..cff572b4edf 100644
--- a/config/receiver.go
+++ b/config/receiver.go
@@ -13,21 +13,15 @@
 // limitations under the License.
 
 package config // import "go.opentelemetry.io/collector/config"
+
 import (
 	"go.opentelemetry.io/collector/component"
 )
 
-// ReceiverSettings defines common settings for a receiver.Receiver configuration.
-// Specific receivers can embed this struct and extend it with more fields if needed.
-//
-// When embedded in the receiver config it must be with `mapstructure:",squash"` tag.
-type ReceiverSettings struct {
-	settings
-}
+// Deprecated: [v0.68.0] will be removed soon, Config no longer requires to embed this.
+type ReceiverSettings struct{}
 
-// NewReceiverSettings return a new ReceiverSettings with the given ID.
-func NewReceiverSettings(id component.ID) ReceiverSettings {
-	return ReceiverSettings{settings: newSettings(id)}
+// Deprecated: [v0.68.0] will be removed soon, Config no longer requires to embed this.
+func NewReceiverSettings(component.ID) ReceiverSettings {
+	return ReceiverSettings{}
 }
-
-var _ component.Config = (*ReceiverSettings)(nil)
diff --git a/config/settings.go b/config/settings.go
deleted file mode 100644
index 6ec6618d3e4..00000000000
--- a/config/settings.go
+++ /dev/null
@@ -1,40 +0,0 @@
-// Copyright The OpenTelemetry Authors
-//
-// Licensed under the Apache License, Version 2.0 (the "License");
-// you may not use this file except in compliance with the License.
-// You may obtain a copy of the License at
-//
-//       http://www.apache.org/licenses/LICENSE-2.0
-//
-// Unless required by applicable law or agreed to in writing, software
-// distributed under the License is distributed on an "AS IS" BASIS,
-// WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
-// See the License for the specific language governing permissions and
-// limitations under the License.
-
-package config // import "go.opentelemetry.io/collector/config"
-
-import (
-	"go.opentelemetry.io/collector/component"
-)
-
-type settings struct {
-	id component.ID `mapstructure:"-"`
-	component.Config
-}
-
-func newSettings(id component.ID) settings {
-	return settings{id: id}
-}
-
-var _ component.Config = (*settings)(nil)
-
-// Deprecated: [v0.67.0] use Settings.ID.
-func (es *settings) ID() component.ID {
-	return es.id
-}
-
-// Deprecated: [v0.67.0] use Settings.ID.
-func (es *settings) SetIDName(idName string) {
-	es.id = component.NewIDWithName(es.id.Type(), idName)
-}
diff --git a/connector/connector_test.go b/connector/connector_test.go
index 61f51d32555..cb5ccfab463 100644
--- a/connector/connector_test.go
+++ b/connector/connector_test.go
@@ -21,13 +21,12 @@ import (
 	"github.com/stretchr/testify/assert"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/consumer"
 )
 
 func TestNewConnectorFactory_NoOptions(t *testing.T) {
 	const typeStr = "test"
-	defaultCfg := config.NewConnectorSettings(component.NewID(typeStr))
+	defaultCfg := struct{}{}
 	factory := NewFactory(typeStr, func() component.Config { return &defaultCfg })
 	assert.EqualValues(t, typeStr, factory.Type())
 	assert.EqualValues(t, &defaultCfg, factory.CreateDefaultConfig())
@@ -56,7 +55,7 @@ func TestNewConnectorFactory_NoOptions(t *testing.T) {
 
 func TestNewConnectorFactory_WithSameTypes(t *testing.T) {
 	const typeStr = "test"
-	defaultCfg := config.NewConnectorSettings(component.NewID(typeStr))
+	defaultCfg := struct{}{}
 	factory := NewFactory(typeStr, func() component.Config { return &defaultCfg },
 		WithTracesToTraces(createTracesToTraces, component.StabilityLevelAlpha),
 		WithMetricsToMetrics(createMetricsToMetrics, component.StabilityLevelBeta),
@@ -94,7 +93,7 @@ func TestNewConnectorFactory_WithSameTypes(t *testing.T) {
 
 func TestNewConnectorFactory_WithTranslateTypes(t *testing.T) {
 	const typeStr = "test"
-	defaultCfg := config.NewConnectorSettings(component.NewID(typeStr))
+	defaultCfg := struct{}{}
 	factory := NewFactory(typeStr, func() component.Config { return &defaultCfg },
 		WithTracesToMetrics(createTracesToMetrics, component.StabilityLevelDevelopment),
 		WithTracesToLogs(createTracesToLogs, component.StabilityLevelAlpha),
@@ -139,7 +138,7 @@ func TestNewConnectorFactory_WithTranslateTypes(t *testing.T) {
 
 func TestNewConnectorFactory_WithAllTypes(t *testing.T) {
 	const typeStr = "test"
-	defaultCfg := config.NewConnectorSettings(component.NewID(typeStr))
+	defaultCfg := struct{}{}
 	factory := NewFactory(typeStr, func() component.Config { return &defaultCfg },
 		WithTracesToTraces(createTracesToTraces, component.StabilityLevelAlpha),
 		WithTracesToMetrics(createTracesToMetrics, component.StabilityLevelDevelopment),
diff --git a/connector/connectortest/connector.go b/connector/connectortest/connector.go
index 82e4994a9e1..c5d8e7fcd31 100644
--- a/connector/connectortest/connector.go
+++ b/connector/connectortest/connector.go
@@ -19,7 +19,6 @@ import (
 
 	"go.opentelemetry.io/collector/component"
 	"go.opentelemetry.io/collector/component/componenttest"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/connector"
 	"go.opentelemetry.io/collector/consumer"
 	"go.opentelemetry.io/collector/consumer/consumertest"
@@ -33,18 +32,14 @@ func NewNopCreateSettings() connector.CreateSettings {
 	}
 }
 
-type nopConfig struct {
-	config.ConnectorSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
-}
+type nopConfig struct{}
 
 // NewNopFactory returns a connector.Factory that constructs nop processors.
 func NewNopFactory() connector.Factory {
 	return connector.NewFactory(
 		"nop",
 		func() component.Config {
-			return &nopConfig{
-				ConnectorSettings: config.NewConnectorSettings(component.NewID("nop")),
-			}
+			return &nopConfig{}
 		},
 		connector.WithTracesToTraces(createTracesToTracesConnector, component.StabilityLevelDevelopment),
 		connector.WithTracesToMetrics(createTracesToMetricsConnector, component.StabilityLevelDevelopment),
diff --git a/connector/connectortest/connector_test.go b/connector/connectortest/connector_test.go
index da7d69223bb..f427999a730 100644
--- a/connector/connectortest/connector_test.go
+++ b/connector/connectortest/connector_test.go
@@ -23,7 +23,6 @@ import (
 
 	"go.opentelemetry.io/collector/component"
 	"go.opentelemetry.io/collector/component/componenttest"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/consumer/consumertest"
 	"go.opentelemetry.io/collector/pdata/plog"
 	"go.opentelemetry.io/collector/pdata/pmetric"
@@ -35,7 +34,7 @@ func TestNewNopConnectorFactory(t *testing.T) {
 	require.NotNil(t, factory)
 	assert.Equal(t, component.Type("nop"), factory.Type())
 	cfg := factory.CreateDefaultConfig()
-	assert.Equal(t, &nopConfig{ConnectorSettings: config.NewConnectorSettings(component.NewID("nop"))}, cfg)
+	assert.Equal(t, &nopConfig{}, cfg)
 
 	tracesToTraces, err := factory.CreateTracesToTraces(context.Background(), NewNopCreateSettings(), cfg, consumertest.NewNop())
 	require.NoError(t, err)
diff --git a/exporter/exporter_test.go b/exporter/exporter_test.go
index 8890943cf11..685d607eb9a 100644
--- a/exporter/exporter_test.go
+++ b/exporter/exporter_test.go
@@ -23,12 +23,11 @@ import (
 	"github.com/stretchr/testify/assert"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 )
 
 func TestNewFactory(t *testing.T) {
 	const typeStr = "test"
-	defaultCfg := config.NewExporterSettings(component.NewID(typeStr))
+	defaultCfg := struct{}{}
 	factory := NewFactory(
 		typeStr,
 		func() component.Config { return &defaultCfg })
@@ -44,7 +43,7 @@ func TestNewFactory(t *testing.T) {
 
 func TestNewFactoryWithOptions(t *testing.T) {
 	const typeStr = "test"
-	defaultCfg := config.NewExporterSettings(component.NewID(typeStr))
+	defaultCfg := struct{}{}
 	factory := NewFactory(
 		typeStr,
 		func() component.Config { return &defaultCfg },
diff --git a/exporter/exporterhelper/logs_test.go b/exporter/exporterhelper/logs_test.go
index c74af4e96db..83722433f23 100644
--- a/exporter/exporterhelper/logs_test.go
+++ b/exporter/exporterhelper/logs_test.go
@@ -28,7 +28,6 @@ import (
 
 	"go.opentelemetry.io/collector/component"
 	"go.opentelemetry.io/collector/component/componenttest"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/consumer"
 	"go.opentelemetry.io/collector/consumer/consumererror"
 	"go.opentelemetry.io/collector/exporter"
@@ -43,10 +42,9 @@ const (
 	fakeLogsParentSpanName = "fake_logs_parent_span_name"
 )
 
-var fakeLogsExporterName = component.NewIDWithName("fake_logs_exporter", "with_name")
-
 var (
-	fakeLogsExporterConfig = config.NewExporterSettings(fakeLogsExporterName)
+	fakeLogsExporterName   = component.NewIDWithName("fake_logs_exporter", "with_name")
+	fakeLogsExporterConfig = struct{}{}
 )
 
 func TestLogsRequest(t *testing.T) {
diff --git a/exporter/exporterhelper/metrics_test.go b/exporter/exporterhelper/metrics_test.go
index 910c0424898..1c770af2365 100644
--- a/exporter/exporterhelper/metrics_test.go
+++ b/exporter/exporterhelper/metrics_test.go
@@ -28,7 +28,6 @@ import (
 
 	"go.opentelemetry.io/collector/component"
 	"go.opentelemetry.io/collector/component/componenttest"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/consumer"
 	"go.opentelemetry.io/collector/consumer/consumererror"
 	"go.opentelemetry.io/collector/exporter"
@@ -45,7 +44,7 @@ const (
 
 var (
 	fakeMetricsExporterName   = component.NewIDWithName("fake_metrics_exporter", "with_name")
-	fakeMetricsExporterConfig = config.NewExporterSettings(fakeMetricsExporterName)
+	fakeMetricsExporterConfig = struct{}{}
 )
 
 func TestMetricsRequest(t *testing.T) {
diff --git a/exporter/exporterhelper/traces_test.go b/exporter/exporterhelper/traces_test.go
index 5455d71a1a4..5a853a9e176 100644
--- a/exporter/exporterhelper/traces_test.go
+++ b/exporter/exporterhelper/traces_test.go
@@ -28,7 +28,6 @@ import (
 
 	"go.opentelemetry.io/collector/component"
 	"go.opentelemetry.io/collector/component/componenttest"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/consumer"
 	"go.opentelemetry.io/collector/consumer/consumererror"
 	"go.opentelemetry.io/collector/exporter"
@@ -45,7 +44,7 @@ const (
 
 var (
 	fakeTracesExporterName   = component.NewIDWithName("fake_traces_exporter", "with_name")
-	fakeTracesExporterConfig = config.NewExporterSettings(fakeTracesExporterName)
+	fakeTracesExporterConfig = struct{}{}
 )
 
 func TestTracesRequest(t *testing.T) {
diff --git a/exporter/exportertest/nop_exporter_test.go b/exporter/exportertest/nop_exporter_test.go
index 398cc5aa491..cd8b48cb0a1 100644
--- a/exporter/exportertest/nop_exporter_test.go
+++ b/exporter/exportertest/nop_exporter_test.go
@@ -33,7 +33,7 @@ func TestNewNopFactory(t *testing.T) {
 	require.NotNil(t, factory)
 	assert.Equal(t, component.Type("nop"), factory.Type())
 	cfg := factory.CreateDefaultConfig()
-	// assert.Equal(t, &nopExporterConfig{ExporterSettings: config.NewExporterSettings(component.NewID("nop"))}, cfg)
+	// assert.Equal(t, &nopConfig{}, cfg)
 
 	traces, err := factory.CreateTracesExporter(context.Background(), NewNopCreateSettings(), cfg)
 	require.NoError(t, err)
diff --git a/exporter/loggingexporter/config.go b/exporter/loggingexporter/config.go
index 076f5cc0bfc..530551e2dad 100644
--- a/exporter/loggingexporter/config.go
+++ b/exporter/loggingexporter/config.go
@@ -37,8 +37,8 @@ var (
 
 // Config defines configuration for logging exporter.
 type Config struct {
-	config.ExporterSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
-
+	// Deprecated: [v0.68.0] will be removed soon.
+	config.ExporterSettings `mapstructure:",squash"`
 	// LogLevel defines log level of the logging exporter; options are debug, info, warn, error.
 	// Deprecated: Use `Verbosity` instead.
 	LogLevel zapcore.Level `mapstructure:"loglevel"`
diff --git a/exporter/loggingexporter/config_test.go b/exporter/loggingexporter/config_test.go
index 98501b07ca5..ef171241529 100644
--- a/exporter/loggingexporter/config_test.go
+++ b/exporter/loggingexporter/config_test.go
@@ -23,7 +23,6 @@ import (
 	"go.uber.org/zap/zapcore"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/config/configtelemetry"
 	"go.opentelemetry.io/collector/confmap"
 	"go.opentelemetry.io/collector/confmap/confmaptest"
@@ -45,7 +44,6 @@ func TestUnmarshalConfig(t *testing.T) {
 		{
 			filename: "config_loglevel.yaml",
 			cfg: &Config{
-				ExporterSettings:   config.NewExporterSettings(component.NewID(typeStr)),
 				LogLevel:           zapcore.DebugLevel,
 				Verbosity:          configtelemetry.LevelDetailed,
 				SamplingInitial:    10,
@@ -56,7 +54,6 @@ func TestUnmarshalConfig(t *testing.T) {
 		{
 			filename: "config_verbosity.yaml",
 			cfg: &Config{
-				ExporterSettings:   config.NewExporterSettings(component.NewID(typeStr)),
 				LogLevel:           zapcore.InfoLevel,
 				Verbosity:          configtelemetry.LevelDetailed,
 				SamplingInitial:    10,
@@ -66,7 +63,6 @@ func TestUnmarshalConfig(t *testing.T) {
 		{
 			filename: "loglevel_info.yaml",
 			cfg: &Config{
-				ExporterSettings:   config.NewExporterSettings(component.NewID(typeStr)),
 				LogLevel:           zapcore.InfoLevel,
 				Verbosity:          configtelemetry.LevelNormal,
 				SamplingInitial:    2,
diff --git a/exporter/loggingexporter/factory.go b/exporter/loggingexporter/factory.go
index 76e7601a47b..49f28e568d5 100644
--- a/exporter/loggingexporter/factory.go
+++ b/exporter/loggingexporter/factory.go
@@ -23,7 +23,6 @@ import (
 	"go.uber.org/zap/zapcore"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/config/configtelemetry"
 	"go.opentelemetry.io/collector/consumer"
 	"go.opentelemetry.io/collector/exporter"
@@ -52,7 +51,6 @@ func NewFactory() exporter.Factory {
 
 func createDefaultConfig() component.Config {
 	return &Config{
-		ExporterSettings:   config.NewExporterSettings(component.NewID(typeStr)),
 		LogLevel:           zapcore.InfoLevel,
 		Verbosity:          configtelemetry.LevelNormal,
 		SamplingInitial:    defaultSamplingInitial,
diff --git a/exporter/otlpexporter/config.go b/exporter/otlpexporter/config.go
index 72be78a2f25..fa3c9f9e6b7 100644
--- a/exporter/otlpexporter/config.go
+++ b/exporter/otlpexporter/config.go
@@ -25,7 +25,8 @@ import (
 
 // Config defines configuration for OpenCensus exporter.
 type Config struct {
-	config.ExporterSettings        `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
+	// Deprecated: [v0.68.0] will be removed soon.
+	config.ExporterSettings        `mapstructure:",squash"`
 	exporterhelper.TimeoutSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct.
 	exporterhelper.QueueSettings   `mapstructure:"sending_queue"`
 	exporterhelper.RetrySettings   `mapstructure:"retry_on_failure"`
diff --git a/exporter/otlpexporter/config_test.go b/exporter/otlpexporter/config_test.go
index 5eb81b5019b..8b1858b9c6d 100644
--- a/exporter/otlpexporter/config_test.go
+++ b/exporter/otlpexporter/config_test.go
@@ -23,7 +23,6 @@ import (
 	"github.com/stretchr/testify/require"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/config/configauth"
 	"go.opentelemetry.io/collector/config/configgrpc"
 	"go.opentelemetry.io/collector/config/configtls"
@@ -47,7 +46,6 @@ func TestUnmarshalConfig(t *testing.T) {
 	assert.NoError(t, component.UnmarshalConfig(cm, cfg))
 	assert.Equal(t,
 		&Config{
-			ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
 			TimeoutSettings: exporterhelper.TimeoutSettings{
 				Timeout: 10 * time.Second,
 			},
diff --git a/exporter/otlpexporter/factory.go b/exporter/otlpexporter/factory.go
index 9c83e53432e..056c17f9677 100644
--- a/exporter/otlpexporter/factory.go
+++ b/exporter/otlpexporter/factory.go
@@ -18,7 +18,6 @@ import (
 	"context"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/config/configcompression"
 	"go.opentelemetry.io/collector/config/configgrpc"
 	"go.opentelemetry.io/collector/consumer"
@@ -44,10 +43,9 @@ func NewFactory() exporter.Factory {
 
 func createDefaultConfig() component.Config {
 	return &Config{
-		ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
-		TimeoutSettings:  exporterhelper.NewDefaultTimeoutSettings(),
-		RetrySettings:    exporterhelper.NewDefaultRetrySettings(),
-		QueueSettings:    exporterhelper.NewDefaultQueueSettings(),
+		TimeoutSettings: exporterhelper.NewDefaultTimeoutSettings(),
+		RetrySettings:   exporterhelper.NewDefaultRetrySettings(),
+		QueueSettings:   exporterhelper.NewDefaultQueueSettings(),
 		GRPCClientSettings: configgrpc.GRPCClientSettings{
 			Headers: map[string]string{},
 			// Default to gzip compression
diff --git a/exporter/otlpexporter/factory_test.go b/exporter/otlpexporter/factory_test.go
index 250e46d135f..a48befc9e98 100644
--- a/exporter/otlpexporter/factory_test.go
+++ b/exporter/otlpexporter/factory_test.go
@@ -23,9 +23,7 @@ import (
 	"github.com/stretchr/testify/assert"
 	"github.com/stretchr/testify/require"
 
-	"go.opentelemetry.io/collector/component"
 	"go.opentelemetry.io/collector/component/componenttest"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/config/configcompression"
 	"go.opentelemetry.io/collector/config/configgrpc"
 	"go.opentelemetry.io/collector/config/configtls"
@@ -69,7 +67,6 @@ func TestCreateTracesExporter(t *testing.T) {
 		{
 			name: "NoEndpoint",
 			config: Config{
-				ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
 				GRPCClientSettings: configgrpc.GRPCClientSettings{
 					Endpoint: "",
 				},
@@ -79,7 +76,6 @@ func TestCreateTracesExporter(t *testing.T) {
 		{
 			name: "UseSecure",
 			config: Config{
-				ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
 				GRPCClientSettings: configgrpc.GRPCClientSettings{
 					Endpoint: endpoint,
 					TLSSetting: configtls.TLSClientSetting{
@@ -91,7 +87,6 @@ func TestCreateTracesExporter(t *testing.T) {
 		{
 			name: "Keepalive",
 			config: Config{
-				ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
 				GRPCClientSettings: configgrpc.GRPCClientSettings{
 					Endpoint: endpoint,
 					Keepalive: &configgrpc.KeepaliveClientConfig{
@@ -105,7 +100,6 @@ func TestCreateTracesExporter(t *testing.T) {
 		{
 			name: "NoneCompression",
 			config: Config{
-				ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
 				GRPCClientSettings: configgrpc.GRPCClientSettings{
 					Endpoint:    endpoint,
 					Compression: "none",
@@ -115,7 +109,6 @@ func TestCreateTracesExporter(t *testing.T) {
 		{
 			name: "GzipCompression",
 			config: Config{
-				ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
 				GRPCClientSettings: configgrpc.GRPCClientSettings{
 					Endpoint:    endpoint,
 					Compression: configcompression.Gzip,
@@ -143,7 +136,6 @@ func TestCreateTracesExporter(t *testing.T) {
 		{
 			name: "Headers",
 			config: Config{
-				ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
 				GRPCClientSettings: configgrpc.GRPCClientSettings{
 					Endpoint: endpoint,
 					Headers: map[string]string{
@@ -156,7 +148,6 @@ func TestCreateTracesExporter(t *testing.T) {
 		{
 			name: "NumConsumers",
 			config: Config{
-				ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
 				GRPCClientSettings: configgrpc.GRPCClientSettings{
 					Endpoint: endpoint,
 				},
@@ -165,7 +156,6 @@ func TestCreateTracesExporter(t *testing.T) {
 		{
 			name: "CaCert",
 			config: Config{
-				ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
 				GRPCClientSettings: configgrpc.GRPCClientSettings{
 					Endpoint: endpoint,
 					TLSSetting: configtls.TLSClientSetting{
@@ -179,7 +169,6 @@ func TestCreateTracesExporter(t *testing.T) {
 		{
 			name: "CertPemFileError",
 			config: Config{
-				ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
 				GRPCClientSettings: configgrpc.GRPCClientSettings{
 					Endpoint: endpoint,
 					TLSSetting: configtls.TLSClientSetting{
diff --git a/exporter/otlphttpexporter/config.go b/exporter/otlphttpexporter/config.go
index b33480edfe5..8efe12d6725 100644
--- a/exporter/otlphttpexporter/config.go
+++ b/exporter/otlphttpexporter/config.go
@@ -25,7 +25,8 @@ import (
 
 // Config defines configuration for OTLP/HTTP exporter.
 type Config struct {
-	config.ExporterSettings       `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
+	// Deprecated: [v0.68.0] will be removed soon.
+	config.ExporterSettings       `mapstructure:",squash"`
 	confighttp.HTTPClientSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct.
 	exporterhelper.QueueSettings  `mapstructure:"sending_queue"`
 	exporterhelper.RetrySettings  `mapstructure:"retry_on_failure"`
diff --git a/exporter/otlphttpexporter/config_test.go b/exporter/otlphttpexporter/config_test.go
index 5a746062e29..a9d11c64f4d 100644
--- a/exporter/otlphttpexporter/config_test.go
+++ b/exporter/otlphttpexporter/config_test.go
@@ -23,7 +23,6 @@ import (
 	"github.com/stretchr/testify/require"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/config/confighttp"
 	"go.opentelemetry.io/collector/config/configtls"
 	"go.opentelemetry.io/collector/confmap"
@@ -48,7 +47,6 @@ func TestUnmarshalConfig(t *testing.T) {
 	assert.NoError(t, component.UnmarshalConfig(cm, cfg))
 	assert.Equal(t,
 		&Config{
-			ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
 			RetrySettings: exporterhelper.RetrySettings{
 				Enabled:         true,
 				InitialInterval: 10 * time.Second,
diff --git a/exporter/otlphttpexporter/factory.go b/exporter/otlphttpexporter/factory.go
index e32576080c4..d93a723a88f 100644
--- a/exporter/otlphttpexporter/factory.go
+++ b/exporter/otlphttpexporter/factory.go
@@ -21,7 +21,6 @@ import (
 	"time"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/config/configcompression"
 	"go.opentelemetry.io/collector/config/confighttp"
 	"go.opentelemetry.io/collector/consumer"
@@ -47,9 +46,8 @@ func NewFactory() exporter.Factory {
 
 func createDefaultConfig() component.Config {
 	return &Config{
-		ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
-		RetrySettings:    exporterhelper.NewDefaultRetrySettings(),
-		QueueSettings:    exporterhelper.NewDefaultQueueSettings(),
+		RetrySettings: exporterhelper.NewDefaultRetrySettings(),
+		QueueSettings: exporterhelper.NewDefaultQueueSettings(),
 		HTTPClientSettings: confighttp.HTTPClientSettings{
 			Endpoint: "",
 			Timeout:  30 * time.Second,
diff --git a/exporter/otlphttpexporter/factory_test.go b/exporter/otlphttpexporter/factory_test.go
index 6e24d5cda23..d453684a074 100644
--- a/exporter/otlphttpexporter/factory_test.go
+++ b/exporter/otlphttpexporter/factory_test.go
@@ -23,9 +23,7 @@ import (
 	"github.com/stretchr/testify/assert"
 	"github.com/stretchr/testify/require"
 
-	"go.opentelemetry.io/collector/component"
 	"go.opentelemetry.io/collector/component/componenttest"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/config/configcompression"
 	"go.opentelemetry.io/collector/config/confighttp"
 	"go.opentelemetry.io/collector/config/configtls"
@@ -73,7 +71,6 @@ func TestCreateTracesExporter(t *testing.T) {
 		{
 			name: "NoEndpoint",
 			config: Config{
-				ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
 				HTTPClientSettings: confighttp.HTTPClientSettings{
 					Endpoint: "",
 				},
@@ -83,7 +80,6 @@ func TestCreateTracesExporter(t *testing.T) {
 		{
 			name: "UseSecure",
 			config: Config{
-				ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
 				HTTPClientSettings: confighttp.HTTPClientSettings{
 					Endpoint: endpoint,
 					TLSSetting: configtls.TLSClientSetting{
@@ -95,7 +91,6 @@ func TestCreateTracesExporter(t *testing.T) {
 		{
 			name: "Headers",
 			config: Config{
-				ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
 				HTTPClientSettings: confighttp.HTTPClientSettings{
 					Endpoint: endpoint,
 					Headers: map[string]string{
@@ -108,7 +103,6 @@ func TestCreateTracesExporter(t *testing.T) {
 		{
 			name: "CaCert",
 			config: Config{
-				ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
 				HTTPClientSettings: confighttp.HTTPClientSettings{
 					Endpoint: endpoint,
 					TLSSetting: configtls.TLSClientSetting{
@@ -122,7 +116,6 @@ func TestCreateTracesExporter(t *testing.T) {
 		{
 			name: "CertPemFileError",
 			config: Config{
-				ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
 				HTTPClientSettings: confighttp.HTTPClientSettings{
 					Endpoint: endpoint,
 					TLSSetting: configtls.TLSClientSetting{
@@ -138,7 +131,6 @@ func TestCreateTracesExporter(t *testing.T) {
 		{
 			name: "NoneCompression",
 			config: Config{
-				ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
 				HTTPClientSettings: confighttp.HTTPClientSettings{
 					Endpoint:    endpoint,
 					Compression: "none",
@@ -148,7 +140,6 @@ func TestCreateTracesExporter(t *testing.T) {
 		{
 			name: "GzipCompression",
 			config: Config{
-				ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
 				HTTPClientSettings: confighttp.HTTPClientSettings{
 					Endpoint:    endpoint,
 					Compression: configcompression.Gzip,
@@ -158,7 +149,6 @@ func TestCreateTracesExporter(t *testing.T) {
 		{
 			name: "SnappyCompression",
 			config: Config{
-				ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
 				HTTPClientSettings: confighttp.HTTPClientSettings{
 					Endpoint:    endpoint,
 					Compression: configcompression.Snappy,
@@ -168,7 +158,6 @@ func TestCreateTracesExporter(t *testing.T) {
 		{
 			name: "ZstdCompression",
 			config: Config{
-				ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
 				HTTPClientSettings: confighttp.HTTPClientSettings{
 					Endpoint:    endpoint,
 					Compression: configcompression.Zstd,
diff --git a/exporter/otlphttpexporter/otlp_test.go b/exporter/otlphttpexporter/otlp_test.go
index 85cd9abfb56..e7c91604ac1 100644
--- a/exporter/otlphttpexporter/otlp_test.go
+++ b/exporter/otlphttpexporter/otlp_test.go
@@ -37,7 +37,6 @@ import (
 
 	"go.opentelemetry.io/collector/component"
 	"go.opentelemetry.io/collector/component/componenttest"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/config/confighttp"
 	"go.opentelemetry.io/collector/consumer"
 	"go.opentelemetry.io/collector/consumer/consumererror"
@@ -488,8 +487,7 @@ func TestErrorResponses(t *testing.T) {
 			}()
 
 			cfg := &Config{
-				ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
-				TracesEndpoint:   fmt.Sprintf("http://%s/v1/traces", addr),
+				TracesEndpoint: fmt.Sprintf("http://%s/v1/traces", addr),
 				// Create without QueueSettings and RetrySettings so that ConsumeTraces
 				// returns the errors that we want to check immediately.
 			}
@@ -565,8 +563,7 @@ func TestUserAgent(t *testing.T) {
 				}()
 
 				cfg := &Config{
-					ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
-					TracesEndpoint:   fmt.Sprintf("http://%s/v1/traces", addr),
+					TracesEndpoint: fmt.Sprintf("http://%s/v1/traces", addr),
 					HTTPClientSettings: confighttp.HTTPClientSettings{
 						Headers: test.headers,
 					},
@@ -610,8 +607,7 @@ func TestUserAgent(t *testing.T) {
 				}()
 
 				cfg := &Config{
-					ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
-					MetricsEndpoint:  fmt.Sprintf("http://%s/v1/metrics", addr),
+					MetricsEndpoint: fmt.Sprintf("http://%s/v1/metrics", addr),
 					HTTPClientSettings: confighttp.HTTPClientSettings{
 						Headers: test.headers,
 					},
@@ -655,8 +651,7 @@ func TestUserAgent(t *testing.T) {
 				}()
 
 				cfg := &Config{
-					ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
-					LogsEndpoint:     fmt.Sprintf("http://%s/v1/logs", addr),
+					LogsEndpoint: fmt.Sprintf("http://%s/v1/logs", addr),
 					HTTPClientSettings: confighttp.HTTPClientSettings{
 						Headers: test.headers,
 					},
diff --git a/extension/ballastextension/config.go b/extension/ballastextension/config.go
index 52063e4f795..49d4d78ed0c 100644
--- a/extension/ballastextension/config.go
+++ b/extension/ballastextension/config.go
@@ -22,7 +22,8 @@ import (
 
 // Config has the configuration for the ballast extension.
 type Config struct {
-	config.ExtensionSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
+	// Deprecated: [v0.68.0] will be removed soon.
+	config.ExtensionSettings `mapstructure:",squash"`
 
 	// SizeMiB is the size, in MiB, of the memory ballast
 	// to be created for this process.
diff --git a/extension/ballastextension/config_test.go b/extension/ballastextension/config_test.go
index 9b9de1f0d12..0a2e1cbb68a 100644
--- a/extension/ballastextension/config_test.go
+++ b/extension/ballastextension/config_test.go
@@ -22,7 +22,6 @@ import (
 	"github.com/stretchr/testify/require"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/confmap"
 	"go.opentelemetry.io/collector/confmap/confmaptest"
 )
@@ -42,9 +41,8 @@ func TestUnmarshalConfig(t *testing.T) {
 	assert.NoError(t, component.UnmarshalConfig(cm, cfg))
 	assert.Equal(t,
 		&Config{
-			ExtensionSettings: config.NewExtensionSettings(component.NewID(typeStr)),
-			SizeMiB:           123,
-			SizeInPercentage:  20,
+			SizeMiB:          123,
+			SizeInPercentage: 20,
 		}, cfg)
 }
 
diff --git a/extension/ballastextension/factory.go b/extension/ballastextension/factory.go
index 13bb28c2239..d0446d6a698 100644
--- a/extension/ballastextension/factory.go
+++ b/extension/ballastextension/factory.go
@@ -18,7 +18,6 @@ import (
 	"context"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/extension"
 	"go.opentelemetry.io/collector/internal/iruntime"
 )
@@ -37,9 +36,7 @@ func NewFactory() extension.Factory {
 }
 
 func createDefaultConfig() component.Config {
-	return &Config{
-		ExtensionSettings: config.NewExtensionSettings(component.NewID(typeStr)),
-	}
+	return &Config{}
 }
 
 func createExtension(_ context.Context, set extension.CreateSettings, cfg component.Config) (extension.Extension, error) {
diff --git a/extension/ballastextension/factory_test.go b/extension/ballastextension/factory_test.go
index 78b5ccf1ee1..c7d26da17c7 100644
--- a/extension/ballastextension/factory_test.go
+++ b/extension/ballastextension/factory_test.go
@@ -21,15 +21,13 @@ import (
 	"github.com/stretchr/testify/assert"
 	"github.com/stretchr/testify/require"
 
-	"go.opentelemetry.io/collector/component"
 	"go.opentelemetry.io/collector/component/componenttest"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/extension/extensiontest"
 )
 
 func TestFactory_CreateDefaultConfig(t *testing.T) {
 	cfg := createDefaultConfig()
-	assert.Equal(t, &Config{ExtensionSettings: config.NewExtensionSettings(component.NewID(typeStr))}, cfg)
+	assert.Equal(t, &Config{}, cfg)
 
 	assert.NoError(t, componenttest.CheckConfigStruct(cfg))
 	ext, err := createExtension(context.Background(), extensiontest.NewNopCreateSettings(), cfg)
diff --git a/extension/extension_test.go b/extension/extension_test.go
index 7bd5ac308f3..922836a2455 100644
--- a/extension/extension_test.go
+++ b/extension/extension_test.go
@@ -21,7 +21,6 @@ import (
 	"github.com/stretchr/testify/assert"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 )
 
 type nopExtension struct {
@@ -31,7 +30,7 @@ type nopExtension struct {
 
 func TestNewFactory(t *testing.T) {
 	const typeStr = "test"
-	defaultCfg := config.NewExtensionSettings(component.NewID(typeStr))
+	defaultCfg := struct{}{}
 	nopExtensionInstance := new(nopExtension)
 
 	factory := NewFactory(
diff --git a/extension/extensiontest/nop_extension_test.go b/extension/extensiontest/nop_extension_test.go
index 845bf3381da..ad5e39ef674 100644
--- a/extension/extensiontest/nop_extension_test.go
+++ b/extension/extensiontest/nop_extension_test.go
@@ -30,7 +30,7 @@ func TestNewNopFactory(t *testing.T) {
 	require.NotNil(t, factory)
 	assert.Equal(t, component.Type("nop"), factory.Type())
 	cfg := factory.CreateDefaultConfig()
-	// assert.Equal(t, &nopConfig{ExtensionSettings: config.NewExtensionSettings(component.NewID("nop"))}, cfg)
+	// assert.Equal(t, &nopConfig{}, cfg)
 
 	traces, err := factory.CreateExtension(context.Background(), NewNopCreateSettings(), cfg)
 	require.NoError(t, err)
diff --git a/extension/zpagesextension/config.go b/extension/zpagesextension/config.go
index 538de90474c..e3be3878190 100644
--- a/extension/zpagesextension/config.go
+++ b/extension/zpagesextension/config.go
@@ -24,7 +24,8 @@ import (
 
 // Config has the configuration for the extension enabling the zPages extension.
 type Config struct {
-	config.ExtensionSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
+	// Deprecated: [v0.68.0] will be removed soon.
+	config.ExtensionSettings `mapstructure:",squash"`
 
 	// TCPAddr is the address and port in which the zPages will be listening to.
 	// Use localhost:<port> to make it available only locally, or ":<port>" to
diff --git a/extension/zpagesextension/config_test.go b/extension/zpagesextension/config_test.go
index 9fd87efc1ba..e8749c315f9 100644
--- a/extension/zpagesextension/config_test.go
+++ b/extension/zpagesextension/config_test.go
@@ -22,7 +22,6 @@ import (
 	"github.com/stretchr/testify/require"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/config/confignet"
 	"go.opentelemetry.io/collector/confmap"
 	"go.opentelemetry.io/collector/confmap/confmaptest"
@@ -43,7 +42,6 @@ func TestUnmarshalConfig(t *testing.T) {
 	assert.NoError(t, component.UnmarshalConfig(cm, cfg))
 	assert.Equal(t,
 		&Config{
-			ExtensionSettings: config.NewExtensionSettings(component.NewID(typeStr)),
 			TCPAddr: confignet.TCPAddr{
 				Endpoint: "localhost:56888",
 			},
diff --git a/extension/zpagesextension/factory.go b/extension/zpagesextension/factory.go
index 6a158e89d37..075f58c823c 100644
--- a/extension/zpagesextension/factory.go
+++ b/extension/zpagesextension/factory.go
@@ -18,7 +18,6 @@ import (
 	"context"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/config/confignet"
 	"go.opentelemetry.io/collector/extension"
 )
@@ -37,7 +36,6 @@ func NewFactory() extension.Factory {
 
 func createDefaultConfig() component.Config {
 	return &Config{
-		ExtensionSettings: config.NewExtensionSettings(component.NewID(typeStr)),
 		TCPAddr: confignet.TCPAddr{
 			Endpoint: defaultEndpoint,
 		},
diff --git a/extension/zpagesextension/factory_test.go b/extension/zpagesextension/factory_test.go
index ef12dc83219..3664e434a9e 100644
--- a/extension/zpagesextension/factory_test.go
+++ b/extension/zpagesextension/factory_test.go
@@ -21,9 +21,7 @@ import (
 	"github.com/stretchr/testify/assert"
 	"github.com/stretchr/testify/require"
 
-	"go.opentelemetry.io/collector/component"
 	"go.opentelemetry.io/collector/component/componenttest"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/config/confignet"
 	"go.opentelemetry.io/collector/extension/extensiontest"
 	"go.opentelemetry.io/collector/internal/testutil"
@@ -32,7 +30,6 @@ import (
 func TestFactory_CreateDefaultConfig(t *testing.T) {
 	cfg := createDefaultConfig()
 	assert.Equal(t, &Config{
-		ExtensionSettings: config.NewExtensionSettings(component.NewID(typeStr)),
 		TCPAddr: confignet.TCPAddr{
 			Endpoint: "localhost:55679",
 		},
diff --git a/processor/batchprocessor/batch_processor_test.go b/processor/batchprocessor/batch_processor_test.go
index 861b4f9425b..d123301f021 100644
--- a/processor/batchprocessor/batch_processor_test.go
+++ b/processor/batchprocessor/batch_processor_test.go
@@ -25,9 +25,7 @@ import (
 	"github.com/stretchr/testify/assert"
 	"github.com/stretchr/testify/require"
 
-	"go.opentelemetry.io/collector/component"
 	"go.opentelemetry.io/collector/component/componenttest"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/config/configtelemetry"
 	"go.opentelemetry.io/collector/consumer"
 	"go.opentelemetry.io/collector/consumer/consumertest"
@@ -281,9 +279,8 @@ func TestBatchProcessorSentByTimeout(t *testing.T) {
 
 func TestBatchProcessorTraceSendWhenClosing(t *testing.T) {
 	cfg := Config{
-		ProcessorSettings: config.NewProcessorSettings(component.NewID(typeStr)),
-		Timeout:           3 * time.Second,
-		SendBatchSize:     1000,
+		Timeout:       3 * time.Second,
+		SendBatchSize: 1000,
 	}
 	sink := new(consumertest.TracesSink)
 
@@ -310,9 +307,8 @@ func TestBatchMetricProcessor_ReceivingData(t *testing.T) {
 	// Instantiate the batch processor with low config values to test data
 	// gets sent through the processor.
 	cfg := Config{
-		ProcessorSettings: config.NewProcessorSettings(component.NewID(typeStr)),
-		Timeout:           200 * time.Millisecond,
-		SendBatchSize:     50,
+		Timeout:       200 * time.Millisecond,
+		SendBatchSize: 50,
 	}
 
 	requestCount := 100
@@ -366,9 +362,8 @@ func testBatchMetricProcessorBatchSize(t *testing.T, tel testTelemetry, registry
 	// Instantiate the batch processor with low config values to test data
 	// gets sent through the processor.
 	cfg := Config{
-		ProcessorSettings: config.NewProcessorSettings(component.NewID(typeStr)),
-		Timeout:           100 * time.Millisecond,
-		SendBatchSize:     50,
+		Timeout:       100 * time.Millisecond,
+		SendBatchSize: 50,
 	}
 
 	requestCount := 100
@@ -437,9 +432,8 @@ func TestBatchMetrics_UnevenBatchMaxSize(t *testing.T) {
 
 func TestBatchMetricsProcessor_Timeout(t *testing.T) {
 	cfg := Config{
-		ProcessorSettings: config.NewProcessorSettings(component.NewID(typeStr)),
-		Timeout:           100 * time.Millisecond,
-		SendBatchSize:     101,
+		Timeout:       100 * time.Millisecond,
+		SendBatchSize: 101,
 	}
 	requestCount := 5
 	metricsPerRequest := 10
@@ -487,9 +481,8 @@ func TestBatchMetricsProcessor_Timeout(t *testing.T) {
 
 func TestBatchMetricProcessor_Shutdown(t *testing.T) {
 	cfg := Config{
-		ProcessorSettings: config.NewProcessorSettings(component.NewID(typeStr)),
-		Timeout:           3 * time.Second,
-		SendBatchSize:     1000,
+		Timeout:       3 * time.Second,
+		SendBatchSize: 1000,
 	}
 	requestCount := 5
 	metricsPerRequest := 10
@@ -574,9 +567,8 @@ func BenchmarkTraceSizeSpanCount(b *testing.B) {
 func BenchmarkBatchMetricProcessor(b *testing.B) {
 	b.StopTimer()
 	cfg := Config{
-		ProcessorSettings: config.NewProcessorSettings(component.NewID(typeStr)),
-		Timeout:           100 * time.Millisecond,
-		SendBatchSize:     2000,
+		Timeout:       100 * time.Millisecond,
+		SendBatchSize: 2000,
 	}
 	ctx := context.Background()
 	sink := new(metricsSink)
@@ -624,9 +616,8 @@ func TestBatchLogProcessor_ReceivingData(t *testing.T) {
 	// Instantiate the batch processor with low config values to test data
 	// gets sent through the processor.
 	cfg := Config{
-		ProcessorSettings: config.NewProcessorSettings(component.NewID(typeStr)),
-		Timeout:           200 * time.Millisecond,
-		SendBatchSize:     50,
+		Timeout:       200 * time.Millisecond,
+		SendBatchSize: 50,
 	}
 
 	requestCount := 100
@@ -680,9 +671,8 @@ func testBatchLogProcessorBatchSize(t *testing.T, tel testTelemetry, registry *f
 	// Instantiate the batch processor with low config values to test data
 	// gets sent through the processor.
 	cfg := Config{
-		ProcessorSettings: config.NewProcessorSettings(component.NewID(typeStr)),
-		Timeout:           100 * time.Millisecond,
-		SendBatchSize:     50,
+		Timeout:       100 * time.Millisecond,
+		SendBatchSize: 50,
 	}
 
 	requestCount := 100
@@ -730,9 +720,8 @@ func testBatchLogProcessorBatchSize(t *testing.T, tel testTelemetry, registry *f
 
 func TestBatchLogsProcessor_Timeout(t *testing.T) {
 	cfg := Config{
-		ProcessorSettings: config.NewProcessorSettings(component.NewID(typeStr)),
-		Timeout:           100 * time.Millisecond,
-		SendBatchSize:     100,
+		Timeout:       100 * time.Millisecond,
+		SendBatchSize: 100,
 	}
 	requestCount := 5
 	logsPerRequest := 10
@@ -780,9 +769,8 @@ func TestBatchLogsProcessor_Timeout(t *testing.T) {
 
 func TestBatchLogProcessor_Shutdown(t *testing.T) {
 	cfg := Config{
-		ProcessorSettings: config.NewProcessorSettings(component.NewID(typeStr)),
-		Timeout:           3 * time.Second,
-		SendBatchSize:     1000,
+		Timeout:       3 * time.Second,
+		SendBatchSize: 1000,
 	}
 	requestCount := 5
 	logsPerRequest := 10
diff --git a/processor/batchprocessor/config.go b/processor/batchprocessor/config.go
index eb8dedccb3d..db0d97ab651 100644
--- a/processor/batchprocessor/config.go
+++ b/processor/batchprocessor/config.go
@@ -24,7 +24,8 @@ import (
 
 // Config defines configuration for batch processor.
 type Config struct {
-	config.ProcessorSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
+	// Deprecated: [v0.68.0] will be removed soon.
+	config.ProcessorSettings `mapstructure:",squash"`
 
 	// Timeout sets the time after which a batch will be sent regardless of size.
 	Timeout time.Duration `mapstructure:"timeout"`
diff --git a/processor/batchprocessor/config_test.go b/processor/batchprocessor/config_test.go
index 90464c1b340..d1f7ec99f81 100644
--- a/processor/batchprocessor/config_test.go
+++ b/processor/batchprocessor/config_test.go
@@ -23,7 +23,6 @@ import (
 	"github.com/stretchr/testify/require"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/confmap"
 	"go.opentelemetry.io/collector/confmap/confmaptest"
 )
@@ -43,27 +42,24 @@ func TestUnmarshalConfig(t *testing.T) {
 	assert.NoError(t, component.UnmarshalConfig(cm, cfg))
 	assert.Equal(t,
 		&Config{
-			ProcessorSettings: config.NewProcessorSettings(component.NewID(typeStr)),
-			SendBatchSize:     uint32(10000),
-			SendBatchMaxSize:  uint32(11000),
-			Timeout:           time.Second * 10,
+			SendBatchSize:    uint32(10000),
+			SendBatchMaxSize: uint32(11000),
+			Timeout:          time.Second * 10,
 		}, cfg)
 }
 
 func TestValidateConfig_DefaultBatchMaxSize(t *testing.T) {
 	cfg := &Config{
-		ProcessorSettings: config.NewProcessorSettings(component.NewIDWithName(typeStr, "2")),
-		SendBatchSize:     100,
-		SendBatchMaxSize:  0,
+		SendBatchSize:    100,
+		SendBatchMaxSize: 0,
 	}
 	assert.NoError(t, cfg.Validate())
 }
 
 func TestValidateConfig_ValidBatchSizes(t *testing.T) {
 	cfg := &Config{
-		ProcessorSettings: config.NewProcessorSettings(component.NewIDWithName(typeStr, "2")),
-		SendBatchSize:     100,
-		SendBatchMaxSize:  1000,
+		SendBatchSize:    100,
+		SendBatchMaxSize: 1000,
 	}
 	assert.NoError(t, cfg.Validate())
 
@@ -71,9 +67,8 @@ func TestValidateConfig_ValidBatchSizes(t *testing.T) {
 
 func TestValidateConfig_InvalidBatchSize(t *testing.T) {
 	cfg := &Config{
-		ProcessorSettings: config.NewProcessorSettings(component.NewIDWithName(typeStr, "2")),
-		SendBatchSize:     1000,
-		SendBatchMaxSize:  100,
+		SendBatchSize:    1000,
+		SendBatchMaxSize: 100,
 	}
 	assert.Error(t, cfg.Validate())
 }
diff --git a/processor/batchprocessor/factory.go b/processor/batchprocessor/factory.go
index bb436389307..a8a4d21c7ec 100644
--- a/processor/batchprocessor/factory.go
+++ b/processor/batchprocessor/factory.go
@@ -19,7 +19,6 @@ import (
 	"time"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/consumer"
 	"go.opentelemetry.io/collector/featuregate"
 	"go.opentelemetry.io/collector/processor"
@@ -45,9 +44,8 @@ func NewFactory() processor.Factory {
 
 func createDefaultConfig() component.Config {
 	return &Config{
-		ProcessorSettings: config.NewProcessorSettings(component.NewID(typeStr)),
-		SendBatchSize:     defaultSendBatchSize,
-		Timeout:           defaultTimeout,
+		SendBatchSize: defaultSendBatchSize,
+		Timeout:       defaultTimeout,
 	}
 }
 
diff --git a/processor/memorylimiterprocessor/config.go b/processor/memorylimiterprocessor/config.go
index 9cd03f28cf4..7a0dfdc4b29 100644
--- a/processor/memorylimiterprocessor/config.go
+++ b/processor/memorylimiterprocessor/config.go
@@ -26,7 +26,8 @@ import (
 
 // Config defines configuration for memory memoryLimiter processor.
 type Config struct {
-	config.ProcessorSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
+	// Deprecated: [v0.68.0] will be removed soon.
+	config.ProcessorSettings `mapstructure:",squash"`
 
 	// CheckInterval is the time between measurements of memory usage for the
 	// purposes of avoiding going over the limits. Defaults to zero, so no
diff --git a/processor/memorylimiterprocessor/config_test.go b/processor/memorylimiterprocessor/config_test.go
index 3bd5ac79edd..382dac30f77 100644
--- a/processor/memorylimiterprocessor/config_test.go
+++ b/processor/memorylimiterprocessor/config_test.go
@@ -23,7 +23,6 @@ import (
 	"github.com/stretchr/testify/require"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/confmap"
 	"go.opentelemetry.io/collector/confmap/confmaptest"
 )
@@ -43,7 +42,6 @@ func TestUnmarshalConfig(t *testing.T) {
 	assert.NoError(t, component.UnmarshalConfig(cm, cfg))
 	assert.Equal(t,
 		&Config{
-			ProcessorSettings:   config.NewProcessorSettings(component.NewID(typeStr)),
 			CheckInterval:       5 * time.Second,
 			MemoryLimitMiB:      4000,
 			MemorySpikeLimitMiB: 500,
diff --git a/processor/memorylimiterprocessor/factory.go b/processor/memorylimiterprocessor/factory.go
index 00d3dd422c5..cb2760fdea0 100644
--- a/processor/memorylimiterprocessor/factory.go
+++ b/processor/memorylimiterprocessor/factory.go
@@ -19,7 +19,6 @@ import (
 	"sync"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/consumer"
 	"go.opentelemetry.io/collector/processor"
 	"go.opentelemetry.io/collector/processor/processorhelper"
@@ -55,9 +54,7 @@ func NewFactory() processor.Factory {
 // CreateDefaultConfig creates the default configuration for processor. Notice
 // that the default configuration is expected to fail for this processor.
 func createDefaultConfig() component.Config {
-	return &Config{
-		ProcessorSettings: config.NewProcessorSettings(component.NewID(typeStr)),
-	}
+	return &Config{}
 }
 
 func (f *factory) createTracesProcessor(
diff --git a/processor/memorylimiterprocessor/memorylimiter_test.go b/processor/memorylimiterprocessor/memorylimiter_test.go
index b777809773c..c02d86cf982 100644
--- a/processor/memorylimiterprocessor/memorylimiter_test.go
+++ b/processor/memorylimiterprocessor/memorylimiter_test.go
@@ -27,7 +27,6 @@ import (
 
 	"go.opentelemetry.io/collector/component"
 	"go.opentelemetry.io/collector/component/componenttest"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/config/configtelemetry"
 	"go.opentelemetry.io/collector/consumer"
 	"go.opentelemetry.io/collector/consumer/consumertest"
@@ -123,9 +122,7 @@ func TestMetricsMemoryPressureResponse(t *testing.T) {
 	mp, err := processorhelper.NewMetricsProcessor(
 		context.Background(),
 		processortest.NewNopCreateSettings(),
-		&Config{
-			ProcessorSettings: config.NewProcessorSettings(component.NewID(typeStr)),
-		},
+		&Config{},
 		consumertest.NewNop(),
 		ml.processMetrics,
 		processorhelper.WithCapabilities(processorCapabilities),
@@ -194,9 +191,7 @@ func TestTraceMemoryPressureResponse(t *testing.T) {
 	tp, err := processorhelper.NewTracesProcessor(
 		context.Background(),
 		processortest.NewNopCreateSettings(),
-		&Config{
-			ProcessorSettings: config.NewProcessorSettings(component.NewID(typeStr)),
-		},
+		&Config{},
 		consumertest.NewNop(),
 		ml.processTraces,
 		processorhelper.WithCapabilities(processorCapabilities),
@@ -265,9 +260,7 @@ func TestLogMemoryPressureResponse(t *testing.T) {
 	lp, err := processorhelper.NewLogsProcessor(
 		context.Background(),
 		processortest.NewNopCreateSettings(),
-		&Config{
-			ProcessorSettings: config.NewProcessorSettings(component.NewID(typeStr)),
-		},
+		&Config{},
 		consumertest.NewNop(),
 		ml.processLogs,
 		processorhelper.WithCapabilities(processorCapabilities),
diff --git a/processor/processor_test.go b/processor/processor_test.go
index d68afff2802..7697f059fbf 100644
--- a/processor/processor_test.go
+++ b/processor/processor_test.go
@@ -21,13 +21,12 @@ import (
 	"github.com/stretchr/testify/assert"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/consumer"
 )
 
 func TestNewFactory(t *testing.T) {
 	const typeStr = "test"
-	defaultCfg := config.NewProcessorSettings(component.NewID(typeStr))
+	defaultCfg := struct{}{}
 	factory := NewFactory(
 		typeStr,
 		func() component.Config { return &defaultCfg })
@@ -43,7 +42,7 @@ func TestNewFactory(t *testing.T) {
 
 func TestNewFactory_WithOptions(t *testing.T) {
 	const typeStr = "test"
-	defaultCfg := config.NewProcessorSettings(component.NewID(typeStr))
+	defaultCfg := struct{}{}
 	factory := NewFactory(
 		typeStr,
 		func() component.Config { return &defaultCfg },
diff --git a/processor/processorhelper/logs_test.go b/processor/processorhelper/logs_test.go
index 12c48279271..a43cfe26d52 100644
--- a/processor/processorhelper/logs_test.go
+++ b/processor/processorhelper/logs_test.go
@@ -24,14 +24,13 @@ import (
 
 	"go.opentelemetry.io/collector/component"
 	"go.opentelemetry.io/collector/component/componenttest"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/consumer"
 	"go.opentelemetry.io/collector/consumer/consumertest"
 	"go.opentelemetry.io/collector/pdata/plog"
 	"go.opentelemetry.io/collector/processor/processortest"
 )
 
-var testLogsCfg = config.NewProcessorSettings(component.NewID("test"))
+var testLogsCfg = struct{}{}
 
 func TestNewLogsProcessor(t *testing.T) {
 	lp, err := NewLogsProcessor(context.Background(), processortest.NewNopCreateSettings(), &testLogsCfg, consumertest.NewNop(), newTestLProcessor(nil))
diff --git a/processor/processorhelper/metrics_test.go b/processor/processorhelper/metrics_test.go
index 43f064d7c24..6c6f4724323 100644
--- a/processor/processorhelper/metrics_test.go
+++ b/processor/processorhelper/metrics_test.go
@@ -24,14 +24,13 @@ import (
 
 	"go.opentelemetry.io/collector/component"
 	"go.opentelemetry.io/collector/component/componenttest"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/consumer"
 	"go.opentelemetry.io/collector/consumer/consumertest"
 	"go.opentelemetry.io/collector/pdata/pmetric"
 	"go.opentelemetry.io/collector/processor/processortest"
 )
 
-var testMetricsCfg = config.NewProcessorSettings(component.NewID("test"))
+var testMetricsCfg = struct{}{}
 
 func TestNewMetricsProcessor(t *testing.T) {
 	mp, err := NewMetricsProcessor(context.Background(), processortest.NewNopCreateSettings(), &testMetricsCfg, consumertest.NewNop(), newTestMProcessor(nil))
diff --git a/processor/processorhelper/traces_test.go b/processor/processorhelper/traces_test.go
index 54ee1ea26ed..2cb5404afda 100644
--- a/processor/processorhelper/traces_test.go
+++ b/processor/processorhelper/traces_test.go
@@ -24,14 +24,13 @@ import (
 
 	"go.opentelemetry.io/collector/component"
 	"go.opentelemetry.io/collector/component/componenttest"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/consumer"
 	"go.opentelemetry.io/collector/consumer/consumertest"
 	"go.opentelemetry.io/collector/pdata/ptrace"
 	"go.opentelemetry.io/collector/processor/processortest"
 )
 
-var testTracesCfg = config.NewProcessorSettings(component.NewID("test"))
+var testTracesCfg = struct{}{}
 
 func TestNewTracesProcessor(t *testing.T) {
 	tp, err := NewTracesProcessor(context.Background(), processortest.NewNopCreateSettings(), &testTracesCfg, consumertest.NewNop(), newTestTProcessor(nil))
diff --git a/processor/processortest/nop_processor_test.go b/processor/processortest/nop_processor_test.go
index f7946cd39fd..aada07465d9 100644
--- a/processor/processortest/nop_processor_test.go
+++ b/processor/processortest/nop_processor_test.go
@@ -35,7 +35,7 @@ func TestNewNopFactory(t *testing.T) {
 	require.NotNil(t, factory)
 	assert.Equal(t, component.Type("nop"), factory.Type())
 	cfg := factory.CreateDefaultConfig()
-	// assert.Equal(t, &nopProcessorConfig{ProcessorSettings: config.NewProcessorSettings(component.NewID("nop"))}, cfg)
+	// assert.Equal(t, &nopConfig{}, cfg)
 
 	traces, err := factory.CreateTracesProcessor(context.Background(), NewNopCreateSettings(), cfg, consumertest.NewNop())
 	require.NoError(t, err)
diff --git a/receiver/otlpreceiver/config.go b/receiver/otlpreceiver/config.go
index c86701641c0..5b46e7f8de0 100644
--- a/receiver/otlpreceiver/config.go
+++ b/receiver/otlpreceiver/config.go
@@ -38,7 +38,8 @@ type Protocols struct {
 
 // Config defines configuration for OTLP receiver.
 type Config struct {
-	config.ReceiverSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
+	// Deprecated: [v0.68.0] will be removed soon.
+	config.ReceiverSettings `mapstructure:",squash"`
 	// Protocols is the configuration for the supported protocols, currently gRPC and HTTP (Proto and JSON).
 	Protocols `mapstructure:"protocols"`
 }
diff --git a/receiver/otlpreceiver/config_test.go b/receiver/otlpreceiver/config_test.go
index ebc6528f0fb..5c498fa8986 100644
--- a/receiver/otlpreceiver/config_test.go
+++ b/receiver/otlpreceiver/config_test.go
@@ -23,7 +23,6 @@ import (
 	"github.com/stretchr/testify/require"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/config/configgrpc"
 	"go.opentelemetry.io/collector/config/confighttp"
 	"go.opentelemetry.io/collector/config/confignet"
@@ -97,7 +96,6 @@ func TestUnmarshalConfig(t *testing.T) {
 	assert.NoError(t, component.UnmarshalConfig(cm, cfg))
 	assert.Equal(t,
 		&Config{
-			ReceiverSettings: config.NewReceiverSettings(component.NewID(typeStr)),
 			Protocols: Protocols{
 				GRPC: &configgrpc.GRPCServerSettings{
 					NetAddr: confignet.NetAddr{
@@ -154,7 +152,6 @@ func TestUnmarshalConfigUnix(t *testing.T) {
 	assert.NoError(t, component.UnmarshalConfig(cm, cfg))
 	assert.Equal(t,
 		&Config{
-			ReceiverSettings: config.NewReceiverSettings(component.NewID(typeStr)),
 			Protocols: Protocols{
 				GRPC: &configgrpc.GRPCServerSettings{
 					NetAddr: confignet.NetAddr{
diff --git a/receiver/otlpreceiver/factory.go b/receiver/otlpreceiver/factory.go
index c85d7189c80..51512e57ad8 100644
--- a/receiver/otlpreceiver/factory.go
+++ b/receiver/otlpreceiver/factory.go
@@ -18,7 +18,6 @@ import (
 	"context"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/config/configgrpc"
 	"go.opentelemetry.io/collector/config/confighttp"
 	"go.opentelemetry.io/collector/config/confignet"
@@ -47,7 +46,6 @@ func NewFactory() receiver.Factory {
 // createDefaultConfig creates the default configuration for receiver.
 func createDefaultConfig() component.Config {
 	return &Config{
-		ReceiverSettings: config.NewReceiverSettings(component.NewID(typeStr)),
 		Protocols: Protocols{
 			GRPC: &configgrpc.GRPCServerSettings{
 				NetAddr: confignet.NetAddr{
diff --git a/receiver/otlpreceiver/factory_test.go b/receiver/otlpreceiver/factory_test.go
index 5ed0bda6450..1c6906264de 100644
--- a/receiver/otlpreceiver/factory_test.go
+++ b/receiver/otlpreceiver/factory_test.go
@@ -21,9 +21,7 @@ import (
 	"github.com/stretchr/testify/assert"
 	"github.com/stretchr/testify/require"
 
-	"go.opentelemetry.io/collector/component"
 	"go.opentelemetry.io/collector/component/componenttest"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/config/configgrpc"
 	"go.opentelemetry.io/collector/config/confighttp"
 	"go.opentelemetry.io/collector/config/confignet"
@@ -76,7 +74,6 @@ func TestCreateTracesReceiver(t *testing.T) {
 		{
 			name: "default",
 			cfg: &Config{
-				ReceiverSettings: config.NewReceiverSettings(component.NewID(typeStr)),
 				Protocols: Protocols{
 					GRPC: defaultGRPCSettings,
 					HTTP: defaultHTTPSettings,
@@ -86,7 +83,6 @@ func TestCreateTracesReceiver(t *testing.T) {
 		{
 			name: "invalid_grpc_port",
 			cfg: &Config{
-				ReceiverSettings: config.NewReceiverSettings(component.NewID(typeStr)),
 				Protocols: Protocols{
 					GRPC: &configgrpc.GRPCServerSettings{
 						NetAddr: confignet.NetAddr{
@@ -102,7 +98,6 @@ func TestCreateTracesReceiver(t *testing.T) {
 		{
 			name: "invalid_http_port",
 			cfg: &Config{
-				ReceiverSettings: config.NewReceiverSettings(component.NewID(typeStr)),
 				Protocols: Protocols{
 					GRPC: defaultGRPCSettings,
 					HTTP: &confighttp.HTTPServerSettings{
@@ -152,7 +147,6 @@ func TestCreateMetricReceiver(t *testing.T) {
 		{
 			name: "default",
 			cfg: &Config{
-				ReceiverSettings: config.NewReceiverSettings(component.NewID(typeStr)),
 				Protocols: Protocols{
 					GRPC: defaultGRPCSettings,
 					HTTP: defaultHTTPSettings,
@@ -162,7 +156,6 @@ func TestCreateMetricReceiver(t *testing.T) {
 		{
 			name: "invalid_grpc_address",
 			cfg: &Config{
-				ReceiverSettings: config.NewReceiverSettings(component.NewID(typeStr)),
 				Protocols: Protocols{
 					GRPC: &configgrpc.GRPCServerSettings{
 						NetAddr: confignet.NetAddr{
@@ -178,7 +171,6 @@ func TestCreateMetricReceiver(t *testing.T) {
 		{
 			name: "invalid_http_address",
 			cfg: &Config{
-				ReceiverSettings: config.NewReceiverSettings(component.NewID(typeStr)),
 				Protocols: Protocols{
 					GRPC: defaultGRPCSettings,
 					HTTP: &confighttp.HTTPServerSettings{
@@ -229,7 +221,6 @@ func TestCreateLogReceiver(t *testing.T) {
 		{
 			name: "default",
 			cfg: &Config{
-				ReceiverSettings: config.NewReceiverSettings(component.NewID(typeStr)),
 				Protocols: Protocols{
 					GRPC: defaultGRPCSettings,
 					HTTP: defaultHTTPSettings,
@@ -240,7 +231,6 @@ func TestCreateLogReceiver(t *testing.T) {
 		{
 			name: "invalid_grpc_address",
 			cfg: &Config{
-				ReceiverSettings: config.NewReceiverSettings(component.NewID(typeStr)),
 				Protocols: Protocols{
 					GRPC: &configgrpc.GRPCServerSettings{
 						NetAddr: confignet.NetAddr{
@@ -257,7 +247,6 @@ func TestCreateLogReceiver(t *testing.T) {
 		{
 			name: "invalid_http_address",
 			cfg: &Config{
-				ReceiverSettings: config.NewReceiverSettings(component.NewID(typeStr)),
 				Protocols: Protocols{
 					GRPC: defaultGRPCSettings,
 					HTTP: &confighttp.HTTPServerSettings{
@@ -271,7 +260,6 @@ func TestCreateLogReceiver(t *testing.T) {
 		{
 			name: "no_next_consumer",
 			cfg: &Config{
-				ReceiverSettings: config.NewReceiverSettings(component.NewID(typeStr)),
 				Protocols: Protocols{
 					GRPC: defaultGRPCSettings,
 					HTTP: &confighttp.HTTPServerSettings{
@@ -285,8 +273,7 @@ func TestCreateLogReceiver(t *testing.T) {
 		{
 			name: "no_http_or_grcp_config",
 			cfg: &Config{
-				ReceiverSettings: config.NewReceiverSettings(component.NewID(typeStr)),
-				Protocols:        Protocols{},
+				Protocols: Protocols{},
 			},
 			wantErr: false,
 			sink:    new(consumertest.LogsSink),
diff --git a/receiver/otlpreceiver/otlp_test.go b/receiver/otlpreceiver/otlp_test.go
index fb16ddb4a4f..d63cea62065 100644
--- a/receiver/otlpreceiver/otlp_test.go
+++ b/receiver/otlpreceiver/otlp_test.go
@@ -39,7 +39,6 @@ import (
 
 	"go.opentelemetry.io/collector/component"
 	"go.opentelemetry.io/collector/component/componenttest"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/config/configgrpc"
 	"go.opentelemetry.io/collector/config/confighttp"
 	"go.opentelemetry.io/collector/config/confignet"
@@ -188,8 +187,7 @@ func TestJsonHttp(t *testing.T) {
 func TestHandleInvalidRequests(t *testing.T) {
 	endpoint := testutil.GetAvailableLocalAddress(t)
 	cfg := &Config{
-		ReceiverSettings: config.NewReceiverSettings(component.NewID(typeStr)),
-		Protocols:        Protocols{HTTP: &confighttp.HTTPServerSettings{Endpoint: endpoint}},
+		Protocols: Protocols{HTTP: &confighttp.HTTPServerSettings{Endpoint: endpoint}},
 	}
 
 	// Traces
@@ -712,7 +710,6 @@ func TestOTLPReceiverTrace_HandleNextConsumerResponse(t *testing.T) {
 
 func TestGRPCInvalidTLSCredentials(t *testing.T) {
 	cfg := &Config{
-		ReceiverSettings: config.NewReceiverSettings(component.NewID(typeStr)),
 		Protocols: Protocols{
 			GRPC: &configgrpc.GRPCServerSettings{
 				NetAddr: confignet.NetAddr{
@@ -783,7 +780,6 @@ func TestGRPCMaxRecvSize(t *testing.T) {
 
 func TestHTTPInvalidTLSCredentials(t *testing.T) {
 	cfg := &Config{
-		ReceiverSettings: config.NewReceiverSettings(component.NewID(typeStr)),
 		Protocols: Protocols{
 			HTTP: &confighttp.HTTPServerSettings{
 				Endpoint: testutil.GetAvailableLocalAddress(t),
@@ -812,7 +808,6 @@ func testHTTPMaxRequestBodySizeJSON(t *testing.T, payload []byte, size int, expe
 	endpoint := testutil.GetAvailableLocalAddress(t)
 	url := fmt.Sprintf("http://%s/v1/traces", endpoint)
 	cfg := &Config{
-		ReceiverSettings: config.NewReceiverSettings(component.NewID(typeStr)),
 		Protocols: Protocols{
 			HTTP: &confighttp.HTTPServerSettings{
 				Endpoint:           endpoint,
diff --git a/receiver/receiver_test.go b/receiver/receiver_test.go
index f90306657f5..1baeb6b708e 100644
--- a/receiver/receiver_test.go
+++ b/receiver/receiver_test.go
@@ -21,13 +21,12 @@ import (
 	"github.com/stretchr/testify/assert"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/consumer"
 )
 
 func TestNewReceiverFactory(t *testing.T) {
 	const typeStr = "test"
-	defaultCfg := config.NewReceiverSettings(component.NewID(typeStr))
+	defaultCfg := struct{}{}
 	factory := NewFactory(
 		typeStr,
 		func() component.Config { return &defaultCfg })
@@ -43,7 +42,7 @@ func TestNewReceiverFactory(t *testing.T) {
 
 func TestNewReceiverFactory_WithOptions(t *testing.T) {
 	const typeStr = "test"
-	defaultCfg := config.NewReceiverSettings(component.NewID(typeStr))
+	defaultCfg := struct{}{}
 	factory := NewFactory(
 		typeStr,
 		func() component.Config { return &defaultCfg },
diff --git a/receiver/receivertest/nop_receiver_test.go b/receiver/receivertest/nop_receiver_test.go
index eb843f3eefd..68882a11259 100644
--- a/receiver/receivertest/nop_receiver_test.go
+++ b/receiver/receivertest/nop_receiver_test.go
@@ -31,7 +31,7 @@ func TestNewNopFactory(t *testing.T) {
 	require.NotNil(t, factory)
 	assert.Equal(t, component.Type("nop"), factory.Type())
 	cfg := factory.CreateDefaultConfig()
-	// assert.Equal(t, &nopReceiverConfig{ReceiverSettings: config.NewReceiverSettings(component.NewID("nop"))}, cfg)
+	// assert.Equal(t, &nopConfig{}, cfg)
 
 	traces, err := factory.CreateTracesReceiver(context.Background(), NewNopCreateSettings(), cfg, consumertest.NewNop())
 	require.NoError(t, err)
diff --git a/receiver/scraperhelper/scrapercontroller.go b/receiver/scraperhelper/scrapercontroller.go
index ff7ee06edc8..24bca231c40 100644
--- a/receiver/scraperhelper/scrapercontroller.go
+++ b/receiver/scraperhelper/scrapercontroller.go
@@ -35,15 +35,15 @@ import (
 // configuration. Scraper controller receivers can embed this struct, instead
 // of receiver.Settings, and extend it with more fields if needed.
 type ScraperControllerSettings struct {
-	config.ReceiverSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
-	CollectionInterval      time.Duration            `mapstructure:"collection_interval"`
+	// Deprecated: [v0.68.0] will be removed soon.
+	config.ReceiverSettings `mapstructure:",squash"`
+	CollectionInterval      time.Duration `mapstructure:"collection_interval"`
 }
 
 // NewDefaultScraperControllerSettings returns default scraper controller
 // settings with a collection interval of one minute.
-func NewDefaultScraperControllerSettings(cfgType component.Type) ScraperControllerSettings {
+func NewDefaultScraperControllerSettings(component.Type) ScraperControllerSettings {
 	return ScraperControllerSettings{
-		ReceiverSettings:   config.NewReceiverSettings(component.NewID(cfgType)),
 		CollectionInterval: time.Minute,
 	}
 }
diff --git a/service/config_test.go b/service/config_test.go
index 6deebe345e2..d8c61c5824f 100644
--- a/service/config_test.go
+++ b/service/config_test.go
@@ -23,7 +23,6 @@ import (
 	"go.uber.org/zap/zapcore"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/config/configtelemetry"
 	"go.opentelemetry.io/collector/service/telemetry"
 )
@@ -36,7 +35,6 @@ var (
 )
 
 type nopRecvConfig struct {
-	config.ReceiverSettings
 	validateErr error
 }
 
@@ -45,7 +43,6 @@ func (nc *nopRecvConfig) Validate() error {
 }
 
 type nopExpConfig struct {
-	config.ExporterSettings
 	validateErr error
 }
 
@@ -54,7 +51,6 @@ func (nc *nopExpConfig) Validate() error {
 }
 
 type nopProcConfig struct {
-	config.ProcessorSettings
 	validateErr error
 }
 
@@ -63,7 +59,6 @@ func (nc *nopProcConfig) Validate() error {
 }
 
 type nopExtConfig struct {
-	config.ExtensionSettings
 	validateErr error
 }
 
@@ -192,8 +187,7 @@ func TestConfigValidate(t *testing.T) {
 			cfgFn: func() *Config {
 				cfg := generateConfig()
 				cfg.Receivers[component.NewID("nop")] = &nopRecvConfig{
-					ReceiverSettings: config.NewReceiverSettings(component.NewID("nop")),
-					validateErr:      errInvalidRecvConfig,
+					validateErr: errInvalidRecvConfig,
 				}
 				return cfg
 			},
@@ -204,8 +198,7 @@ func TestConfigValidate(t *testing.T) {
 			cfgFn: func() *Config {
 				cfg := generateConfig()
 				cfg.Exporters[component.NewID("nop")] = &nopExpConfig{
-					ExporterSettings: config.NewExporterSettings(component.NewID("nop")),
-					validateErr:      errInvalidExpConfig,
+					validateErr: errInvalidExpConfig,
 				}
 				return cfg
 			},
@@ -216,8 +209,7 @@ func TestConfigValidate(t *testing.T) {
 			cfgFn: func() *Config {
 				cfg := generateConfig()
 				cfg.Processors[component.NewID("nop")] = &nopProcConfig{
-					ProcessorSettings: config.NewProcessorSettings(component.NewID("nop")),
-					validateErr:       errInvalidProcConfig,
+					validateErr: errInvalidProcConfig,
 				}
 				return cfg
 			},
@@ -228,8 +220,7 @@ func TestConfigValidate(t *testing.T) {
 			cfgFn: func() *Config {
 				cfg := generateConfig()
 				cfg.Extensions[component.NewID("nop")] = &nopExtConfig{
-					ExtensionSettings: config.NewExtensionSettings(component.NewID("nop")),
-					validateErr:       errInvalidExtConfig,
+					validateErr: errInvalidExtConfig,
 				}
 				return cfg
 			},
@@ -271,24 +262,16 @@ func TestConfigValidate(t *testing.T) {
 func generateConfig() *Config {
 	return &Config{
 		Receivers: map[component.ID]component.Config{
-			component.NewID("nop"): &nopRecvConfig{
-				ReceiverSettings: config.NewReceiverSettings(component.NewID("nop")),
-			},
+			component.NewID("nop"): &nopRecvConfig{},
 		},
 		Exporters: map[component.ID]component.Config{
-			component.NewID("nop"): &nopExpConfig{
-				ExporterSettings: config.NewExporterSettings(component.NewID("nop")),
-			},
+			component.NewID("nop"): &nopExpConfig{},
 		},
 		Processors: map[component.ID]component.Config{
-			component.NewID("nop"): &nopProcConfig{
-				ProcessorSettings: config.NewProcessorSettings(component.NewID("nop")),
-			},
+			component.NewID("nop"): &nopProcConfig{},
 		},
 		Extensions: map[component.ID]component.Config{
-			component.NewID("nop"): &nopExtConfig{
-				ExtensionSettings: config.NewExtensionSettings(component.NewID("nop")),
-			},
+			component.NewID("nop"): &nopExtConfig{},
 		},
 		Service: ConfigService{
 			Telemetry: telemetry.Config{
diff --git a/service/extensions/extensions_test.go b/service/extensions/extensions_test.go
index aad9cef506c..6149127f075 100644
--- a/service/extensions/extensions_test.go
+++ b/service/extensions/extensions_test.go
@@ -24,7 +24,6 @@ import (
 
 	"go.opentelemetry.io/collector/component"
 	"go.opentelemetry.io/collector/component/componenttest"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/extension"
 	"go.opentelemetry.io/collector/extension/extensiontest"
 )
@@ -107,11 +106,7 @@ func newBadExtensionFactory() extension.Factory {
 	return extension.NewFactory(
 		"bf",
 		func() component.Config {
-			return &struct {
-				config.ExtensionSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
-			}{
-				ExtensionSettings: config.NewExtensionSettings(component.NewID("bf")),
-			}
+			return &struct{}{}
 		},
 		func(ctx context.Context, set extension.CreateSettings, extension component.Config) (extension.Extension, error) {
 			return nil, nil
@@ -124,11 +119,7 @@ func newCreateErrorExtensionFactory() extension.Factory {
 	return extension.NewFactory(
 		"err",
 		func() component.Config {
-			return &struct {
-				config.ExtensionSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
-			}{
-				ExtensionSettings: config.NewExtensionSettings(component.NewID("err")),
-			}
+			return &struct{}{}
 		},
 		func(ctx context.Context, set extension.CreateSettings, extension component.Config) (extension.Extension, error) {
 			return nil, errors.New("cannot create \"err\" extension type")
diff --git a/service/internal/configunmarshaler/exporters.go b/service/internal/configunmarshaler/exporters.go
index cd68761caa7..304a89dca09 100644
--- a/service/internal/configunmarshaler/exporters.go
+++ b/service/internal/configunmarshaler/exporters.go
@@ -54,7 +54,6 @@ func (e *Exporters) Unmarshal(conf *confmap.Conf) error {
 
 		// Create the default config for this exporter.
 		exporterCfg := factory.CreateDefaultConfig()
-		exporterCfg.SetIDName(id.Name()) //nolint:staticcheck
 
 		// Now that the default config struct is created we can Unmarshal into it,
 		// and it will apply user-defined config on top of the default.
diff --git a/service/internal/configunmarshaler/exporters_test.go b/service/internal/configunmarshaler/exporters_test.go
index 3fe59585008..3163a6db894 100644
--- a/service/internal/configunmarshaler/exporters_test.go
+++ b/service/internal/configunmarshaler/exporters_test.go
@@ -38,7 +38,6 @@ func TestExportersUnmarshal(t *testing.T) {
 	require.NoError(t, exps.Unmarshal(conf))
 
 	cfgWithName := factories["nop"].CreateDefaultConfig()
-	cfgWithName.SetIDName("myexporter") //nolint:staticcheck
 	assert.Equal(t, map[component.ID]component.Config{
 		component.NewID("nop"):                       factories["nop"].CreateDefaultConfig(),
 		component.NewIDWithName("nop", "myexporter"): cfgWithName,
diff --git a/service/internal/configunmarshaler/extensions.go b/service/internal/configunmarshaler/extensions.go
index 369ee49c1ff..db9a6b4eb98 100644
--- a/service/internal/configunmarshaler/extensions.go
+++ b/service/internal/configunmarshaler/extensions.go
@@ -54,7 +54,6 @@ func (e *Extensions) Unmarshal(conf *confmap.Conf) error {
 
 		// Create the default config for this extension.
 		extensionCfg := factory.CreateDefaultConfig()
-		extensionCfg.SetIDName(id.Name()) //nolint:staticcheck
 
 		// Now that the default config struct is created we can Unmarshal into it,
 		// and it will apply user-defined config on top of the default.
diff --git a/service/internal/configunmarshaler/extensions_test.go b/service/internal/configunmarshaler/extensions_test.go
index 0610dbeb2c3..53febe9bfe3 100644
--- a/service/internal/configunmarshaler/extensions_test.go
+++ b/service/internal/configunmarshaler/extensions_test.go
@@ -38,7 +38,6 @@ func TestExtensionsUnmarshal(t *testing.T) {
 	require.NoError(t, exts.Unmarshal(conf))
 
 	cfgWithName := factories["nop"].CreateDefaultConfig()
-	cfgWithName.SetIDName("myextension") //nolint:staticcheck
 	assert.Equal(t, map[component.ID]component.Config{
 		component.NewID("nop"):                        factories["nop"].CreateDefaultConfig(),
 		component.NewIDWithName("nop", "myextension"): cfgWithName,
diff --git a/service/internal/configunmarshaler/processors.go b/service/internal/configunmarshaler/processors.go
index b671d59cfd2..98256e73a4b 100644
--- a/service/internal/configunmarshaler/processors.go
+++ b/service/internal/configunmarshaler/processors.go
@@ -53,7 +53,6 @@ func (p *Processors) Unmarshal(conf *confmap.Conf) error {
 
 		// Create the default config for this processor.
 		processorCfg := factory.CreateDefaultConfig()
-		processorCfg.SetIDName(id.Name()) //nolint:staticcheck
 
 		// Now that the default config struct is created we can Unmarshal into it,
 		// and it will apply user-defined config on top of the default.
diff --git a/service/internal/configunmarshaler/processors_test.go b/service/internal/configunmarshaler/processors_test.go
index 61c8c2d6ed5..4cbbf48dafe 100644
--- a/service/internal/configunmarshaler/processors_test.go
+++ b/service/internal/configunmarshaler/processors_test.go
@@ -38,7 +38,6 @@ func TestProcessorsUnmarshal(t *testing.T) {
 	require.NoError(t, procs.Unmarshal(conf))
 
 	cfgWithName := factories["nop"].CreateDefaultConfig()
-	cfgWithName.SetIDName("myprocessor") //nolint:staticcheck
 	assert.Equal(t, map[component.ID]component.Config{
 		component.NewID("nop"):                        factories["nop"].CreateDefaultConfig(),
 		component.NewIDWithName("nop", "myprocessor"): cfgWithName,
diff --git a/service/internal/configunmarshaler/receivers.go b/service/internal/configunmarshaler/receivers.go
index f5bff72622e..2e5e75b64e1 100644
--- a/service/internal/configunmarshaler/receivers.go
+++ b/service/internal/configunmarshaler/receivers.go
@@ -54,7 +54,6 @@ func (r *Receivers) Unmarshal(conf *confmap.Conf) error {
 
 		// Create the default config for this receiver.
 		receiverCfg := factory.CreateDefaultConfig()
-		receiverCfg.SetIDName(id.Name()) //nolint:staticcheck
 
 		// Now that the default config struct is created we can Unmarshal into it,
 		// and it will apply user-defined config on top of the default.
diff --git a/service/internal/configunmarshaler/receivers_test.go b/service/internal/configunmarshaler/receivers_test.go
index 7b32029f362..bef7a0596e7 100644
--- a/service/internal/configunmarshaler/receivers_test.go
+++ b/service/internal/configunmarshaler/receivers_test.go
@@ -38,7 +38,6 @@ func TestReceiversUnmarshal(t *testing.T) {
 	require.NoError(t, recvs.Unmarshal(conf))
 
 	cfgWithName := factories["nop"].CreateDefaultConfig()
-	cfgWithName.SetIDName("myreceiver") //nolint:staticcheck
 	assert.Equal(t, map[component.ID]component.Config{
 		component.NewID("nop"):                       factories["nop"].CreateDefaultConfig(),
 		component.NewIDWithName("nop", "myreceiver"): cfgWithName,
diff --git a/service/internal/testcomponents/example_exporter.go b/service/internal/testcomponents/example_exporter.go
index df353991034..52eec1ba39d 100644
--- a/service/internal/testcomponents/example_exporter.go
+++ b/service/internal/testcomponents/example_exporter.go
@@ -18,7 +18,6 @@ import (
 	"context"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/consumer"
 	"go.opentelemetry.io/collector/exporter"
 	"go.opentelemetry.io/collector/pdata/plog"
@@ -31,11 +30,6 @@ const (
 	stability = component.StabilityLevelDevelopment
 )
 
-// ExampleExporterConfig config for ExampleExporter.
-type ExampleExporterConfig struct {
-	config.ExporterSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
-}
-
 // ExampleExporterFactory is factory for ExampleExporter.
 var ExampleExporterFactory = exporter.NewFactory(
 	typeStr,
@@ -46,9 +40,7 @@ var ExampleExporterFactory = exporter.NewFactory(
 )
 
 func createExporterDefaultConfig() component.Config {
-	return &ExampleExporterConfig{
-		ExporterSettings: config.NewExporterSettings(component.NewID(typeStr)),
-	}
+	return &struct{}{}
 }
 
 func createTracesExporter(context.Context, exporter.CreateSettings, component.Config) (exporter.Traces, error) {
diff --git a/service/internal/testcomponents/example_processor.go b/service/internal/testcomponents/example_processor.go
index 390c8ae02b5..6cf9d389997 100644
--- a/service/internal/testcomponents/example_processor.go
+++ b/service/internal/testcomponents/example_processor.go
@@ -18,18 +18,12 @@ import (
 	"context"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/consumer"
 	"go.opentelemetry.io/collector/processor"
 )
 
 const procType = "exampleprocessor"
 
-// ExampleProcessorConfig config for ExampleProcessor.
-type ExampleProcessorConfig struct {
-	config.ProcessorSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
-}
-
 // ExampleProcessorFactory is factory for ExampleProcessor.
 var ExampleProcessorFactory = processor.NewFactory(
 	procType,
@@ -40,9 +34,7 @@ var ExampleProcessorFactory = processor.NewFactory(
 
 // CreateDefaultConfig creates the default configuration for the Processor.
 func createDefaultConfig() component.Config {
-	return &ExampleProcessorConfig{
-		ProcessorSettings: config.NewProcessorSettings(component.NewID(procType)),
-	}
+	return &struct{}{}
 }
 
 func createTracesProcessor(_ context.Context, _ processor.CreateSettings, _ component.Config, nextConsumer consumer.Traces) (processor.Traces, error) {
diff --git a/service/internal/testcomponents/example_receiver.go b/service/internal/testcomponents/example_receiver.go
index f512c9ccf9a..4ac740b8544 100644
--- a/service/internal/testcomponents/example_receiver.go
+++ b/service/internal/testcomponents/example_receiver.go
@@ -18,18 +18,12 @@ import (
 	"context"
 
 	"go.opentelemetry.io/collector/component"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/consumer"
 	"go.opentelemetry.io/collector/receiver"
 )
 
 const receiverType = component.Type("examplereceiver")
 
-// ExampleReceiverConfig config for ExampleReceiver.
-type ExampleReceiverConfig struct {
-	config.ReceiverSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
-}
-
 // ExampleReceiverFactory is factory for ExampleReceiver.
 var ExampleReceiverFactory = receiver.NewFactory(
 	receiverType,
@@ -39,9 +33,7 @@ var ExampleReceiverFactory = receiver.NewFactory(
 	receiver.WithLogs(createLogsReceiver, component.StabilityLevelDevelopment))
 
 func createReceiverDefaultConfig() component.Config {
-	return &ExampleReceiverConfig{
-		ReceiverSettings: config.NewReceiverSettings(component.NewID(receiverType)),
-	}
+	return &struct{}{}
 }
 
 // createTracesReceiver creates a trace receiver based on this config.
diff --git a/service/pipelines_test.go b/service/pipelines_test.go
index 49b43d336e7..4842169d823 100644
--- a/service/pipelines_test.go
+++ b/service/pipelines_test.go
@@ -24,7 +24,6 @@ import (
 
 	"go.opentelemetry.io/collector/component"
 	"go.opentelemetry.io/collector/component/componenttest"
-	"go.opentelemetry.io/collector/config"
 	"go.opentelemetry.io/collector/consumer"
 	"go.opentelemetry.io/collector/consumer/consumertest"
 	"go.opentelemetry.io/collector/exporter"
@@ -705,42 +704,25 @@ func TestFailToStartAndShutdown(t *testing.T) {
 
 func newBadReceiverFactory() receiver.Factory {
 	return receiver.NewFactory("bf", func() component.Config {
-		return &struct {
-			config.ReceiverSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
-		}{
-			ReceiverSettings: config.NewReceiverSettings(component.NewID("bf")),
-		}
+		return &struct{}{}
 	})
 }
 
 func newBadProcessorFactory() processor.Factory {
 	return processor.NewFactory("bf", func() component.Config {
-		return &struct {
-			config.ProcessorSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
-		}{
-			ProcessorSettings: config.NewProcessorSettings(component.NewID("bf")),
-		}
+		return &struct{}{}
 	})
 }
 
 func newBadExporterFactory() exporter.Factory {
 	return exporter.NewFactory("bf", func() component.Config {
-		return &struct {
-			config.ExporterSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
-		}{
-			ExporterSettings: config.NewExporterSettings(component.NewID("bf")),
-		}
+		return &struct{}{}
 	})
 }
 
 func newErrReceiverFactory() receiver.Factory {
-	return receiver.NewFactory("err", func() component.Config {
-		return &struct {
-			config.ReceiverSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
-		}{
-			ReceiverSettings: config.NewReceiverSettings(component.NewID("bf")),
-		}
-	},
+	return receiver.NewFactory("err",
+		func() component.Config { return &struct{}{} },
 		receiver.WithTraces(func(context.Context, receiver.CreateSettings, component.Config, consumer.Traces) (receiver.Traces, error) {
 			return &errComponent{}, nil
 		}, component.StabilityLevelUndefined),
@@ -754,13 +736,8 @@ func newErrReceiverFactory() receiver.Factory {
 }
 
 func newErrProcessorFactory() processor.Factory {
-	return processor.NewFactory("err", func() component.Config {
-		return &struct {
-			config.ProcessorSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
-		}{
-			ProcessorSettings: config.NewProcessorSettings(component.NewID("bf")),
-		}
-	},
+	return processor.NewFactory("err",
+		func() component.Config { return &struct{}{} },
 		processor.WithTraces(func(context.Context, processor.CreateSettings, component.Config, consumer.Traces) (processor.Traces, error) {
 			return &errComponent{}, nil
 		}, component.StabilityLevelUndefined),
@@ -774,13 +751,8 @@ func newErrProcessorFactory() processor.Factory {
 }
 
 func newErrExporterFactory() exporter.Factory {
-	return exporter.NewFactory("err", func() component.Config {
-		return &struct {
-			config.ExporterSettings `mapstructure:",squash"` // squash ensures fields are correctly decoded in embedded struct
-		}{
-			ExporterSettings: config.NewExporterSettings(component.NewID("bf")),
-		}
-	},
+	return exporter.NewFactory("err",
+		func() component.Config { return &struct{}{} },
 		exporter.WithTraces(func(context.Context, exporter.CreateSettings, component.Config) (exporter.Traces, error) {
 			return &errComponent{}, nil
 		}, component.StabilityLevelUndefined),