Proposed Collection; Comment Request for Form W-11, 9482-9483 [2017-02363]
Download as PDF
<![CDATA[
9482
Federal Register / Vol. 82, No. 23 / Monday, February 6, 2017 / Notices
Federal savings association must
provide the OCC with prior notice and
obtain a written supervisory noobjection letter. In order to obtain a
supervisory no-objection letter, a
national bank or Federal savings
association must have written policies,
procedures, and risk measurement and
management systems and controls in
place to ensure that retail forex
transactions are conducted in a safe and
sound manner. The national bank or
Federal savings association also must
provide other information required by
the OCC, such as documentation of
customer due diligence, new product
approvals, and haircuts applied to
noncash margins.
sradovich on DSK3GMQ082PROD with NOTICES
Disclosure Requirements
Under § 48.5, a national bank or
Federal savings association must
promptly provide the customer with a
statement reflecting the financial result
of the transactions and the name of the
introducing broker to the account. The
customer must provide specific written
instructions on how the offsetting
transaction should be applied.
Section 48.6 requires that a national
bank or Federal savings association
furnish a retail forex customer with a
written disclosure before opening an
account through which the customer
will engage in retail forex transactions.
It further requires a national bank or
Federal savings association to secure an
acknowledgment from the customer that
the disclosure was received and
understood. Finally, § 48.6 requires the
disclosure by a national bank or Federal
savings association of its fees and other
charges and its profitable accounts ratio.
Section 48.10 requires a national bank
or Federal savings association to issue
monthly statements to each retail forex
customer and to send confirmation
statements following transactions.
Section 48.13(c) prohibits a national
bank or Federal savings association
engaging in retail forex transactions
from knowingly handling the account of
any related person of another retail
forex counterparty unless it receives
proper written authorization, promptly
prepares a written record of the order,
and transmits to the counterparty copies
all statements and written records.
Section 48.13(d) prohibits a related
person of a national bank or Federal
savings association engaging in forex
transactions from having an account
with another retail forex counterparty
unless it receives proper written
authorization and copies of all
statements and written records for such
accounts are transmitted to the
counterparty.
VerDate Sep<11>2014
16:03 Feb 03, 2017
Jkt 241001
Section 48.15 requires a national bank
or Federal savings association to
provide a retail forex customer with 30
days prior notice of any assignment of
any position or transfer of any account
of the retail forex customer. It also
requires a national bank or Federal
savings association to which retail forex
accounts or positions are assigned or
transferred to provide the affected
customers with risk disclosure
statements and forms of
acknowledgment and obtain the signed
acknowledgments within 60 days.
The customer dispute resolution
provisions in § 48.16 require certain
endorsements, acknowledgments, and
signatures. The section also requires
that a national bank or Federal savings
association, within 10 days after receipt
of notice from the retail forex customer
that the customer intends to submit a
claim to arbitration, provide the
customer with a list of persons qualified
in the dispute resolution.
Policies and Procedures;
Recordkeeping
Sections 48.7 and 48.13 require that a
national bank or Federal savings
association engaging in retail forex
transactions keep full, complete, and
systematic records and to establish and
implement internal rules, procedures,
and controls. Section 48.7 also requires
that a national bank or Federal savings
association keep account, financial
ledger, transaction, and daily records, as
well as memorandum orders, postexecution allocation of bunched orders,
records regarding its ratio of profitable
accounts, possible violations of law,
records for noncash margin, and
monthly statements and confirmations.
Section 48.9 requires policies and
procedures for haircuts for noncash
margin collected under the rule’s
margin requirements and annual
evaluations and modifications of the
haircuts.
The OCC issued a notice for 60 days
of comment regarding this collection on
October 20, 2016, 81 FR 72672. No
comments were received. Comments
continue to be invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
OCC, including whether the information
has practical utility;
(b) The accuracy of the OCC’s
estimate of the burden of the
information collection;
(c) Ways to enhance the quality,
utility, and clarity of the information to
be collected;
(d) Ways to minimize the burden of
the collection on respondents, including
through the use of automated collection
PO 00000
Frm 00113
Fmt 4703
Sfmt 4703
techniques or other forms of information
technology; and
(e) Estimates of capital or start-up
costs and costs of operation,
maintenance, and purchase of services
to provide information.
Dated: January 26, 2017.
Karen Solomon,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
[FR Doc. 2017–02358 Filed 2–3–17; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form W–11
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
The Department of the
Treasury, as part of its continuing effort
to reduce paperwork and respondent
burden, invites the general public and
other Federal agencies to take this
opportunity to comment on proposed
and/or continuing information
collections, as required by the
Paperwork Reduction Act of 1995,
Public Law 104–13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is
soliciting comments concerning Form
W–11, Hiring Incentives to Restore
Employment (HIRE) Act Employee
Affidavit.
SUMMARY:
Written comments should be
received on or before April 7, 2017 to
be assured of consideration.
ADDRESSES: Direct all written comments
to Tuawana Pinkston, Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of notice should be directed to
Sara Covington, at Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW., Washington, DC 20224, or
through the internet, at
Sara.L.Covington@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Hiring Incentives to Restore
Employment (HIRE) Act Employee
Affidavit.
OMB Number: 1545–2173.
Notice Number: Form W–11.
Abstract: This form was created in
response to the Hiring Incentives to
Restore Employment (HIRE) Act, which
was signed on March 18, 2010. The form
was developed as a template for the
convenience of employers who must
DATES:
E:\FR\FM\06FEN1.SGM
06FEN1
Federal Register / Vol. 82, No. 23 / Monday, February 6, 2017 / Notices
sradovich on DSK3GMQ082PROD with NOTICES
collect affidavits from qualifying
employees. The form is not filed, rather
an employer must retain the affidavit in
order to justify claiming certain HIRE
Act benefits.
Current Actions: Extension of
currently approved collection. There are
no changes being made to the notice at
this time.
Type of Review: Extension of
currently approved collection.
Affected Public: Businesses or other
for-profit institutions.
Estimated Number of Respondents:
100,000.
Estimated Average Time per
Respondent: 2 hrs., 16 mins.
Estimated Total Annual Burden
Hours: 227,000 hrs.
The following paragraph applies to all
of the collections of information covered
by this notice:
VerDate Sep<11>2014
16:03 Feb 03, 2017
Jkt 241001
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collection of information
displays a valid OMB control number.
Books or records relating to a collection
of information must be retained as long
as their contents may become material
in the administration of any internal
revenue law. Generally, tax returns and
tax return information are confidential,
as required by 26 U.S.C. 6103.
Request for Comments: Comments
submitted in response to this notice will
be summarized and/or included in the
request for OMB approval. All
comments will become a matter of
public record. Comments are invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
PO 00000
Frm 00114
Fmt 4703
Sfmt 9990
9483
agency, including whether the
information shall have practical utility;
(b) the accuracy of the agency’s estimate
of the burden of the collection of
information; (c) ways to enhance the
quality, utility, and clarity of the
information to be collected; (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology; and (e) estimates of capital
or start-up costs and costs of operation,
maintenance, and purchase of services
to provide information.
Approved: January 25, 2017.
Maria Cheeks,
IRS Supervisory Tax Law Specialist.
[FR Doc. 2017–02363 Filed 2–3–17; 8:45 am]
BILLING CODE 4830–01–P
E:\FR\FM\06FEN1.SGM
06FEN1
]]>Agencies
[Federal Register Volume 82, Number 23 (Monday, February 6, 2017)]
[Notices]
[Pages 9482-9483]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-02363]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form W-11
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: The Department of the Treasury, as part of its continuing
effort to reduce paperwork and respondent burden, invites the general
public and other Federal agencies to take this opportunity to comment
on proposed and/or continuing information collections, as required by
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning
Form W-11, Hiring Incentives to Restore Employment (HIRE) Act Employee
Affidavit.
DATES: Written comments should be received on or before April 7, 2017
to be assured of consideration.
ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal
Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of notice should be directed to Sara Covington, at Internal
Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington,
DC 20224, or through the internet, at Sara.L.Covington@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Hiring Incentives to Restore Employment (HIRE) Act Employee
Affidavit.
OMB Number: 1545-2173.
Notice Number: Form W-11.
Abstract: This form was created in response to the Hiring
Incentives to Restore Employment (HIRE) Act, which was signed on March
18, 2010. The form was developed as a template for the convenience of
employers who must
[[Page 9483]]
collect affidavits from qualifying employees. The form is not filed,
rather an employer must retain the affidavit in order to justify
claiming certain HIRE Act benefits.
Current Actions: Extension of currently approved collection. There
are no changes being made to the notice at this time.
Type of Review: Extension of currently approved collection.
Affected Public: Businesses or other for-profit institutions.
Estimated Number of Respondents: 100,000.
Estimated Average Time per Respondent: 2 hrs., 16 mins.
Estimated Total Annual Burden Hours: 227,000 hrs.
The following paragraph applies to all of the collections of
information covered by this notice:
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collection of
information displays a valid OMB control number. Books or records
relating to a collection of information must be retained as long as
their contents may become material in the administration of any
internal revenue law. Generally, tax returns and tax return information
are confidential, as required by 26 U.S.C. 6103.
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in the request for OMB approval. All
comments will become a matter of public record. Comments are invited
on: (a) Whether the collection of information is necessary for the
proper performance of the functions of the agency, including whether
the information shall have practical utility; (b) the accuracy of the
agency's estimate of the burden of the collection of information; (c)
ways to enhance the quality, utility, and clarity of the information to
be collected; (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated
collection techniques or other forms of information technology; and (e)
estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Approved: January 25, 2017.
Maria Cheeks,
IRS Supervisory Tax Law Specialist.
[FR Doc. 2017-02363 Filed 2-3-17; 8:45 am]
BILLING CODE 4830-01-P
