Notice2024-30825
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Reporting, Procedures and Penalties Regulations
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
December 27, 2024
Issuing agencies
Treasury Department
Abstract
The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests.
Full Text
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<title>Federal Register, Volume 89 Issue 248 (Friday, December 27, 2024)</title>
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[Federal Register Volume 89, Number 248 (Friday, December 27, 2024)]
[Notices]
[Pages 105687-105688]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-30825]
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DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Reporting, Procedures and Penalties
Regulations
AGENCY: Departmental Offices, U.S. Department of the Treasury.
ACTION: Notice of information collection; request for comment.
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SUMMARY: The Department of the Treasury will submit the following
information collection requests to the Office of Management and Budget
(OMB) for review and clearance in accordance with the Paperwork
Reduction Act of 1995, on or after the date of publication of this
notice. The public is invited to submit comments on these requests.
DATES: Comments should be received on or before January 27, 2025 to be
assured of consideration.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be
obtained from Spencer W. Clark by emailing <a href="/cdn-cgi/l/email-protection#5303011213272136322026212a7d343c25"><span class="__cf_email__" data-cfemail="3d6d6f7c7d494f585c4e484f44135a524b">[email protected]</span></a>, calling
(202) 927-5331, or viewing the entire information collection request at
<a href="http://www.reginfo.gov">www.reginfo.gov</a>.
SUPPLEMENTARY INFORMATION:
Office of Foreign Assets Control (OFAC)
Title: Reporting, Procedures and Penalties Regulations and Other
Information Collections Maintained by the Office of Foreign Assets
Control.
OMB Control Number: 1505-0164.
Type of Review: Revision of a currently approved collection.
Description: This information collection request is submitted to
renew and revise the information collection authority in the Office of
Foreign Assets Control's (OFAC) Reporting, Procedures and Penalties
Regulations (31 CFR part 501) (``the Regulations''), and certain other
parts of 31 CFR chapter V.
The Regulations and other parts of 31 CFR chapter V are implemented
pursuant to the Trading With the Enemy Act (50 U.S.C. 4301 et seq.),
the International Emergency Economic Powers Act (50 U.S.C. 1701 et
seq.), the United Nations Participation Act of 1945 (22 U.S.C. 287c),
and other laws.
[[Page 105688]]
The collections of information relevant to this request are contained
in Sec. Sec. 501.601 through 501.605, 501.801, and 501.804 through
501.807, and certain other parts of 31 CFR chapter V, and pertain to
the operation of various economic sanctions programs administered by
OFAC under 31 CFR chapter V.
In addition, OFAC seeks to consolidate within this information
collection request five existing information collection requests, which
are relevant to 31 CFR 501.801, 515.572, 561.504, and 566.504.
Forms: For filers who have been granted an exception from
electronic reporting using the OFAC Reporting System (ORS), OFAC allows
the submission of the following, through the following approved forms:
the Annual Report of Blocked Property (ARBP), TD-F 90-22.50; Report on
Blocked Property--Financial, TD-F 93.02; Report on Blocked Property--
Tangible/Real/Other Non-Financial Property, TD-F 93.08; Report on
Rejected Transaction, TD-F 93.07. OFAC also maintains the following
forms related to licensing: TSRA License Application, TD-F 93.04;
Licensing Cover Sheet, TD-F 98-22.61; and Application for the Release
of Blocked Funds TD-F 90-22.54. In addition, OFAC issued a new form,
REPO for Ukrainians Act Report Form, TD-F 93.09, to implement a new
reporting requirement pursuant to the Rebuilding Economic Prosperity
and Opportunity for Ukrainians Act for financial institutions holding
Russian sovereign assets, if not previously reported to OFAC. The other
information collections covered by this notice do not have mandatory or
voluntary forms.
Affected Public: Financial institutions, business organizations,
nonprofit organizations, individuals, households, nongovernmental
organizations, and legal representatives.
Estimated Number of Respondents: 10,900.
Frequency of Response: The estimated annual frequency of responses
is between 1 and 17,800, varying greatly by entity depending on the
size, nature, and scope of business activities of each respondent, with
the majority of filers providing a small number of responses and a
small number of filers submitting a higher number of responses.
Estimated Total Number of Annual Responses: 2,502,086.
Estimated Time per Response: OFAC assesses that there is an average
time estimate for reports associated with forms ranging from 15 minutes
to 2 hours and for reports associated with general licenses, Cuba
remittances, Cuba travel, closure of correspondent or payable-through
accounts, and other miscellaneous reports ranging from 1 minute to 5
hours.
Estimated Total Annual Burden Hours: 86,223.
Authority: 44 U.S.C. 3501 et seq.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2024-30825 Filed 12-26-24; 8:45 am]
BILLING CODE 4810-AK-P
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