Proposed Collection; Comment Request for Regulation Project, 35157-35158 [E5-3083]
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Federal Register / Vol. 70, No. 115 / Thursday, June 16, 2005 / Notices
OTS: Nonaffiliate—30; Affiliate—18.
Estimated Total Annual Burden
Hours:
OCC: Nonaffiliate—2,700; Affiliate—
1,908. Total: 4,608 burden hours.
Board: Nonaffiliate—1,860; Affiliate—
324. Total: 2,184 burden hours.
FDIC: Nonaffiliate—5,700; Affiliate—
3,096. Total: 8,796 burden hours.
OTS: Nonaffiliate—480; Affiliate—0.
Total: 480 burden hours.
General Description of Report: This
information collection is mandatory. 12
U.S.C. 1828(c) (OCC, FDIC, and OTS),
and 12 U.S.C. 321, 1828(c), and 4804
(Board). Except for select sensitive
items, this information collection is not
given confidential treatment. Small
businesses, that is, small institutions,
are affected.
Abstract: This submission covers a
renewal of the Agencies’ merger
application form, which may include
clarified instructions for both affiliated
and nonaffiliated institutions. The
Agencies need the information to ensure
that the proposed transactions are
permissible under law and regulation
and are consistent with safe and sound
banking practices. The Agencies are
required, under the Bank Merger Act, to
consider financial and managerial
resources, future prospects, convenience
and needs of the community,
community reinvestment, competition,
bank secrecy, and anti-money
laundering efforts.
Some agencies collect limited
supplemental information in certain
cases. For example, the OCC and OTS
collect information regarding CRA
commitments; the Federal Reserve
collects information on debt servicing
from certain institutions; and the FDIC
requires additional information on the
competitive impact of proposed
mergers.
Current Actions: On March 30, 2005,
the Agencies published in the Federal
Register (70 FR 16331) a notice on the
proposed clarifications to this
information collection. The comment
period expired on May 31, 2005. The
Agencies received no public comments,
and each Agency is now submitting its
request to OMB for approval of this
information collection, as proposed.
The General Information and
Instructions section of the merger
application form would be modified to
clarify the first subsection (Preparation
and Use), which explains more clearly
the range of merger transactions that
may require use of the application. The
remaining clarifications include a new
paragraph in the Preparation and Use
subsection noting that applications must
be submitted to the appropriate
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regulatory agency. Also, a new
Compliance subsection would inform
applicants of compliance expectations
and of the potential that some very large
transactions may be subject to the HartScott-Rodino Antitrust Improvement
Act. These additional paragraphs, which
would provide further practical advice
that is generally included in the other
recently approved interagency forms,
are intended to highlight certain
elements of the applications process to
prevent confusion or delay, and add no
additional burden.
The Federal Reserve approved
extending for three years, with minor
revisions, its current supplemental
form. The two revisions are intended to
facilitate the applications review
process and provide further practical
guidance to the applicant. The first
revision recognizes the possible need of
biographical or financial information
from any individual that, as a
consequence of the proposed
transaction, becomes a new principal,
shareholder, director, or senior
executive officer of a state member
bank. While all of the Agencies agree
that a significant change in management
or ownership must be evaluated under
the statutory factors of the Bank Merger
Act, they have elected to deal with this
information need on a case-by-case
basis. The second revision eliminates
the need for any formal certification
from a target institution. This
certification is unique to the bank
merger application, and is not
specifically required by the Bank Merger
Act. As the FRB generally waives this
requirement if objected to by the target
institution and as the applicant is the
party to which bank merger authority is
granted, the FRB believes that only the
applicant need provide the requested
certification. The other agencies believe
that the target institution should certify
to the accuracy of the information and
that the institutions will notify the
agency if any material changes occur
prior to a decision. Also, the target
institution certifies that any
communications with the agency do not
constitute a contract.
Comments: No comments were
received in response to the first notice.
Comments submitted in response to this
second notice will be analyzed to
determine the extent to which the
instructions for the collection should be
modified. All comments will become a
matter of public record.
Written comments are invited on:
a. Whether the information collection
is necessary for the proper performance
of the Agencies’ functions, and how the
instructions can be clarified so that
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35157
information gathered has more practical
utility;
b. The accuracy of the Agencies’
estimates of the burden of the
information collection, including the
validity of the methodology and
assumptions used;
c. Ways to enhance the quality,
utility, and clarity of the information to
be collected;
d. Ways to minimize the burden of the
information collection 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.
Dated: June 13, 2005.
Stuart Feldstein,
Assistant Director, Legislative and Regulatory
Activities Division, Office of the Comptroller
of the Currency.
Dated: June 8, 2005.
By order of the Board of Governors of the
Federal Reserve System,
Jennifer J. Johnson,
Secretary of the Board.
Dated at Washington, DC, this 13th day of
June, 2005.
Robert E. Feldman,
Executive Secretary, Federal Deposit
Insurance Corporation.
Dated: June 10, 2005.
By the Office of Thrift Supervision.
Richard M. Riccobono,
Acting Director.
[FR Doc. 05–11925 Filed 6–15–05; 8:45 am]
BILLING CODE 4810–33–P, 6210–01–P, 6714–01–P,
6720–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[REG–124667–02, EE–35–85]
Proposed Collection; Comment
Request for Regulation Project
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
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 existing
E:\FR\FM\16JNN1.SGM
16JNN1
35158
Federal Register / Vol. 70, No. 115 / Thursday, June 16, 2005 / Notices
final regulation, REG–124667–02
(NPRM) Disclosure of Relative Values of
Optional Forms of Benefit; and EE–35–
85 (Final) Income Tax: Taxable Years
Beginning After December 31, 1953;
OMB Control Number Under The
Paperwork Reduction Act; Survivor
Benefits, Distribution Restriction and
Various Other Issues Under the
Retirement Equity Act of 1984.
DATES: Written comments should be
received on or before August 15, 2005
to be assured of consideration.
ADDRESSES: Direct all written comments
to Glenn Kirkland, Internal Revenue
Service, room 6510, 1111 Constitution
Avenue NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the regulations should be
directed to Larnice Mack at Internal
Revenue Service, room 6512, 1111
Constitution Avenue NW., Washington,
DC 20224, or at (202) 622–3179, or
through the Internet at
(Larnice.Mack@irs.gov).
SUPPLEMENTARY INFORMATION:
Title: Disclosure of Relative Values of
Optional Forms of Benefit; and Income
Tax: Taxable Years Beginning After
December 31, 1953; OMB Control
Number Under The Paperwork
Reduction Act; Survivor Benefits,
Distribution Restriction and Various
Other Issues Under the Retirement
Equity Act of 1984.
OMB Number: 1545–0928.
Regulation Project Number: REG–
124667–02.
Abstract: The notices referred to in
this NPRM are required by statute and
by state and must be provided by
employers to retirement plan
participants to inform participants of
their rights under the plan or under the
law. Failure to timely notify participant
of their rights may result in loss of plan
benefits.
Current Actions: There are no changes
to this existing regulation.
Type of Review: Extension of
currently approved collection.
Affected Public: Business or other forprofit.
Estimated Total Annual Reporting
Burden: 385,000.
Estimated Average Annual Burden
Per Respondent: 5 hours.
Estimated Number of Respondents:
750,000.
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.
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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: June 9, 2005.
Allan Hopkins,
IRS Reports Clearance Officer.
[FR Doc. E5–3083 Filed 6–15–05; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[REG–122450–98, REG–100276–97]
Proposed Collection; Comment
Request for Regulation Project
Internal Revenue Service (IRS),
Treasury.
AGENCY:
Notice and request for
comments.
ACTION:
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 existing
final regulations, REG–122450–98,
REG–100276–97, and REG–122450–98
(NPRM) Sections 1.860E–1(c)(4)–(10).
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Written comments should be
received on or before August 15, 2005
to be assured of consideration.
ADDRESSES: Direct all written comments
to Glenn Kirkland, Internal Revenue
Service, room 6510, 1111 Constitution
Avenue NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the regulations should be
directed to Larnice Mack at Internal
Revenue Service, room 6512, 1111
Constitution Avenue NW., Washington,
DC 20224, or at (202) 622–3179, or
through the internet at
(Larnice.Mack.@irs.gov).
DATES:
SUPPLEMENTARY INFORMATION:
Title: Financial Asset Securitization
Investment Trusts; Real Estate Mortgage
Investment Conduits.
OMB Number: 1545–1675.
Regulation Project Number: REG–
122450–98, REG–100276–97, REG–
122450–98.
Abstract: REG–122450–98 Sections
1.860E–1(c)(4)–(10) of the Treasury
Regulations provide circumstances
under which a transferor of a
noneconomic residual interest in a Real
Estate Mortgage Investment Conduit
(REMIC) meeting the investigation, and
two representation requirements may
avail itself of the safe harbor by
satisfying either the formula test or asset
test. REG–100276–97; REG–122450–98.
This regulation provides start-up and
transitional rules applicable to financial
asset securitization investment trust.
Current Actions: There are no changes
being made to this existing regulation.
Type of Review: Extension of
currently approved collection.
Affected Public: Business or other forprofit.
Estimated Total Annual Reporting
and/or Record Keeping Burden: 750.
Estimated Average Annual Burden
Hours per Respondent and/or Recordkeeping: 5 hours.
Estimated Number of Respondents
and/or Record-Keeping: 150.
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
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16JNN1
]]>Agencies
[Federal Register Volume 70, Number 115 (Thursday, June 16, 2005)]
[Notices]
[Pages 35157-35158]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-3083]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[REG-124667-02, EE-35-85]
Proposed Collection; Comment Request for Regulation Project
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
existing
[[Page 35158]]
final regulation, REG-124667-02 (NPRM) Disclosure of Relative Values of
Optional Forms of Benefit; and EE-35-85 (Final) Income Tax: Taxable
Years Beginning After December 31, 1953; OMB Control Number Under The
Paperwork Reduction Act; Survivor Benefits, Distribution Restriction
and Various Other Issues Under the Retirement Equity Act of 1984.
DATES: Written comments should be received on or before August 15, 2005
to be assured of consideration.
ADDRESSES: Direct all written comments to Glenn Kirkland, Internal
Revenue Service, room 6510, 1111 Constitution Avenue NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the regulations should be directed to Larnice Mack at
Internal Revenue Service, room 6512, 1111 Constitution Avenue NW.,
Washington, DC 20224, or at (202) 622-3179, or through the Internet at
(Larnice.Mack@irs.gov).
SUPPLEMENTARY INFORMATION:
Title: Disclosure of Relative Values of Optional Forms of Benefit;
and Income Tax: Taxable Years Beginning After December 31, 1953; OMB
Control Number Under The Paperwork Reduction Act; Survivor Benefits,
Distribution Restriction and Various Other Issues Under the Retirement
Equity Act of 1984.
OMB Number: 1545-0928.
Regulation Project Number: REG-124667-02.
Abstract: The notices referred to in this NPRM are required by
statute and by state and must be provided by employers to retirement
plan participants to inform participants of their rights under the plan
or under the law. Failure to timely notify participant of their rights
may result in loss of plan benefits.
Current Actions: There are no changes to this existing regulation.
Type of Review: Extension of currently approved collection.
Affected Public: Business or other for-profit.
Estimated Total Annual Reporting Burden: 385,000.
Estimated Average Annual Burden Per Respondent: 5 hours.
Estimated Number of Respondents: 750,000.
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: June 9, 2005.
Allan Hopkins,
IRS Reports Clearance Officer.
[FR Doc. E5-3083 Filed 6-15-05; 8:45 am]
BILLING CODE 4830-01-P
