Report on Section 529 College Savings Plans, 37307-37308 [E9-17916]
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Federal Register / Vol. 74, No. 143 / Tuesday, July 28, 2009 / Notices
Estimated Total Burden Hours: 280
hours.
OMB Number: 1545–1991.
Type of Review: Revision.
Form: 8804–W.
Title: Installment Payments of Section
1446 Tax for Partnerships.
Description: Regulations for section
1446 require a worksheet for installment
payments of section 1446 tax.
Partnerships generally must make
installment payments of estimated
section 1446 tax if they expect the
aggregate tax on the effectively
connected taxable income (ECTI) that is
allocable to all foreign partners to be
$500 or more.
Respondents: Businesses or other forprofits.
Estimated Total Burden Hours: 31,600
hours.
OMB Number: 1545–1996.
Type of Review: Extension.
Title: Notice 2006–05, Waiver for
Reasonable Cause for Failure to Report
Loan Origination Fees and Capitalized
Interest.
Description: This Notice provides
information to payees who receive
payment of interest on qualified
education loans who are unable to
comply with the information reporting
requirements under section 6050S of the
Internal Revenue Code.
Respondents: Businesses or other forprofits.
Estimated Total Burden Hours: 5,000
hours.
OMB Number: 1545–2134.
Type of Review: Extension.
Title: Notice 2009–41—Credit for
Residential energy efficient property.
Description: This notice provides
guidance about the procedures by which
a manufacturer can certify that
residential energy efficient property
qualifies for the § 25D credit. This
notice is intended to provide (1)
guidance concerning the methods by
which manufacturers can provide such
certifications to taxpayers, and (2)
guidance concerning the methods by
which taxpayers can claim such credits.
Respondents: Individuals or
Households.
Estimated Total Burden Hours: 350
hours.
OMB Number: 1545–1990.
Type of Review: Extension.
Title: Application of section 338 to
Insurance Companies (TD 9377, final).
Description: Final regulations under
section 197 of the Internal Revenue
Code (Code) that apply to a section 197
intangible resulting from an assumption
reinsurance transaction, and under
section 338 that apply to reserve
increases after a deemed asset sale. The
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19:36 Jul 27, 2009
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final regulations also provide guidance
with respect to existing section 846(e)
elections to use historical loss payment
patterns. The final regulations apply to
insurance companies.
Respondents: Businesses or other forprofits.
Estimated Total Burden Hours: 12
hours.
Clearance Officer: R. Joseph Durbala,
(202) 622–3634, Internal Revenue
Service, Room 6516, 1111 Constitution
Avenue, NW., Washington, DC 20224.
OMB Reviewer: Shagufta Ahmed,
(202) 395–7873, Office of Management
and Budget, Room 10235, New
Executive Office Building, Washington,
DC 20503.
Celina Elphage,
Treasury PRA Clearance Officer.
[FR Doc. E9–17914 Filed 7–27–09; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Report on Section 529 College Savings
Plans
Departmental Offices, Treasury.
Notice and request for
comments.
AGENCY:
ACTION:
SUMMARY: The Department of the
Treasury invites the general public to
submit information pertinent to a report
it will issue on Section 529 college
savings plans. Such information could
include data, research studies, opinions
citing hard data, or references thereof.
The report is an initiative of the Middle
Class Task Force chaired by Vice
President Joe Biden and was announced
in an April 17th press release that can
be found at https://www.whitehouse.gov/
the_press_office/Middle-Class-TaskForce-Holds-Meeting-on-CollegeAffordability/. The report will examine
how people save using 529 plans and
whether they are taking appropriate
steps to manage risk. In addition, the
report will identify options and best
practices for making the 529 plans more
effective.
DATES: Written comments must be
received on or before August 14, 2009,
to be assured of consideration.
Submission of Comments: Please
submit comments electronically through
the Federal eRulemaking Portal—
‘‘Regulations.gov.’’ Go to https://
regulations.gov, select ‘‘Department of
the Treasury’’ from the agency menu to
submit or view public comments. The
‘‘How to Use This Site’’ and ‘‘User Tips’’
links on the Regulations.gov home page
provide information on using
Regulations.gov, including instructions
for submitting or viewing public
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37307
comments, viewing other supporting
and related materials, and viewing the
docket after the close of the comment
period.
Please include your name, affiliation,
address, e-mail address, and telephone
number(s) in your comment. All
statements received, including
attachments and other supporting
materials, are part of the public record
and subject to public disclosure. You
should submit only information that
you wish to make available publicly.
FOR FURTHER INFORMATION CONTACT:
529ReportInput@do.treas.gov.
SUPPLEMENTARY INFORMATION: The
Treasury Department is particularly
interested in data, research studies,
opinions citing hard data, or references
thereof, relating to the specific questions
set forth below.
1. To what extent are Section 529
savings plan investment options
prudent and to what extent do they
accommodate reasonable attitudes
toward risk?
2. To what extent are Section 529
savings plans invested wisely?
a. Is there a tendency for accounts to
be too heavily invested in equities?
b. To what extent do account owners
sell equities when prices are falling and
buy equities when prices are rising?
c. Should plans take steps to better
assist account owners in making
prudent investment choices? If so, what
steps would be appropriate?
3. To what extent are Section 529
savings plan account fees reasonable?
a. How do fees compare with similar
retail mutual funds, and what factors
might explain any differences?
b. How much variance is there in fees
across plans for a similar investment
option, and what factors might explain
any such variance?
4. To what extent do low- and middleincome families benefit from Section
529 savings plans and Section 529
prepaid tuition plans?
a. How do the financial incentives for
participation vary with family income?
b. How does financial aid eligibility
affect the financial incentives for
participation?
c. How are contributions, account
balances, and tax benefits distributed
across income groups?
d. Controlling for initial family
attitudes toward education, does having
a Section 529 savings account increase
the beneficiary’s likelihood of attending
college?
e. Are state matching grants an
effective means of encouraging Section
529 contributions from low- and
moderate-income families?
f. Are tax subsidies for saving the
most cost effective way to make college
E:\FR\FM\28JYN1.SGM
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37308
Federal Register / Vol. 74, No. 143 / Tuesday, July 28, 2009 / Notices
affordable for low- and middle- income
families?
5. Do prepaid tuition plans assess a
reasonable premium in exchange for
reducing participant risks with respect
to investment returns and increases in
the cost of attending college?
Alan B. Krueger,
Assistant Secretary for Economic Policy.
[FR Doc. E9–17916 Filed 7–27–09; 8:45 am]
BILLING CODE 4810–25–P
DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
Suspicious Activity Report
mstockstill on DSKH9S0YB1PROD with NOTICES
AGENCY: Office of Thrift Supervision
(OTS), Treasury.
ACTION: Notice and request for comment.
SUMMARY: The proposed information
collection request (ICR) described below
has been submitted to the Office of
Management and Budget (OMB) for
review and approval, as required by the
Paperwork Reduction Act of 1995. OTS
is soliciting public comments on the
proposal.
DATES: Submit written comments on or
before August 27, 2009. A copy of this
ICR, with applicable supporting
documentation, can be obtained from
RegInfo.gov at https://www.reginfo.gov/
public/do/PRAMain.
ADDRESSES: Send comments, referring to
the collection by title of the proposal or
by OMB approval number, to OMB and
OTS at these addresses: Office of
Information and Regulatory Affairs,
Attention: Desk Officer for OTS, U.S.
Office of Management and Budget, 725
17th Street, NW., Room 10235,
Washington, DC 20503, or by fax to
(202) 395–6974; and Information
Collection Comments, Chief Counsel’s
Office, Office of Thrift Supervision,
1700 G Street, NW., Washington, DC
20552, by fax to (202) 906–6518, or by
e-mail to
infocollection.comments@ots.treas.gov.
OTS will post comments and the related
index on the OTS Internet Site at
https://www.ots.treas.gov. In addition,
interested persons may inspect
comments at the Public Reading Room,
1700 G Street, NW., by appointment. To
make an appointment, call (202) 906–
5922, send an e-mail to
public.info@ots.treas.gov, or send a
facsimile transmission to (202) 906–
7755.
FOR FURTHER INFORMATION CONTACT: For
further information or to obtain a copy
of the submission to OMB, please
contact Ira L. Mills at,
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19:36 Jul 27, 2009
Jkt 217001
ira.mills@ots.treas.gov (202) 906–6531,
or facsimile number (202) 906–6518,
Regulations and Legislation Division,
Chief Counsel’s Office, Office of Thrift
Supervision, 1700 G Street, NW.,
Washington, DC 20552.
SUPPLEMENTARY INFORMATION: OTS may
not conduct or sponsor an information
collection, and respondents are not
required to respond to an information
collection, unless the information
collection displays a currently valid
OMB control number. As part of the
approval process, we invite comments
on the following information collection.
Title of Proposal: Suspicious Activity
Report.
OMB Number: 1550–0003.
Form Number: 1601.
Description: OTS and the bank
regulators, including the Board, adopted
the Suspicious Activity Report (SAR) in
1996 to simplify the process through
which depository institutions (‘‘banks’’)
inform their regulators and law
enforcement about suspected criminal
activity. The SAR was updated in 1999
and again in 2003.
In 1992, the Treasury Department was
granted broad authority to require
suspicious transaction reporting under
the Bank Secrecy Act. See 31 U.S.C.
5318(g). The Department of the
Treasury’s Financial Crimes
Enforcement Network, which has been
delegated authority to administer the
Bank Secrecy Act, joined with the bank
regulators in 1996 in requiring, on a
consolidated form (the SAR form),
reports of suspicious transactions. See
31 CFR 103.18(a).
The filing of SARs is necessary to
prevent and detect the laundering of
money and other funds at banks.
Banks are required to retain a copy of
any SAR filed and supporting
documentation for the filing of the SAR
for five years. See 31 CFR 103.18(d), 31
CFR 103.38 and 12 CFR 563.180(d)(6).
These documents are necessary for
criminal investigations and
prosecutions.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit.
Estimated Number of Respondents:
804.
Estimated Number of Responses:
58,821.
Estimated Burden Hours per
Response: 1 hour for the report; 1.8
hours for retention.
Estimated Frequency of Response: On
occasion.
Estimated Total Burden: 164,698
hours.
Clearance Officer: Ira L. Mills, (202)
906–6531, Office of Thrift Supervision,
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1700 G Street, NW., Washington, DC
20552.
Dated: July 21, 2009.
Deborah Dakin,
Acting Chief Counsel, Office of Thrift
Supervision.
[FR Doc. E9–17846 Filed 7–27–09; 8:45 am]
BILLING CODE 6720–01–P
DEPARTMENT OF VETERANS
AFFAIRS
Advisory Committee on Disability
Compensation; Notice of Meeting
The Department of Veterans Affairs
(VA) gives notice under Public Law 92–
463 (Federal Advisory Committee Act)
that the Advisory Committee on
Disability Compensation will meet on
August 10–11, 2009, in the Carlton
Ballroom at the St. Regis Washington
DC, 923 16th and K Streets, NW., from
8:30 a.m. to 5 p.m. each day. The
meeting is open to the public.
The purpose of the Committee is to
advise the Secretary of Veterans Affairs
on the maintenance and periodic
readjustment of the VA Schedule for
Rating Disabilities. The Committee is to
assemble and review relevant
information relating to the nature and
character of disabilities arising from
service in the Armed Forces, provide an
ongoing assessment of the effectiveness
of the rating schedule and give advice
on the most appropriate means of
responding to the needs of veterans
relating to disability compensation.
On August 10 and the morning of
August 11, the Committee will receive
briefings about studies on compensation
for Veterans with service-connected
disabilities and other Veteran benefits
programs. On the afternoon of August
11, the Committee will break into
subcommittees to prepare
recommendations. Time will also be
allocated during the afternoon of August
11 for receiving public comments.
Public comments will be limited to
three minutes each. Individuals wishing
to make oral statements before the
Committee will be accommodated on a
first-come, first-served basis.
Individuals who speak are invited to
submit 1–2 page summaries of their
comments at the time of the meeting for
inclusion in the official meeting record.
The public may submit written
statements for the Committee’s review
to Ms. Ersie Farber, Designated Federal
Officer, Department of Veterans Affairs,
Veterans Benefits Administration
(211A), 810 Vermont Avenue, NW.,
Washington, DC 20420. Any member of
the public wishing to attend the meeting
E:\FR\FM\28JYN1.SGM
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]]>Agencies
[Federal Register Volume 74, Number 143 (Tuesday, July 28, 2009)]
[Notices]
[Pages 37307-37308]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-17916]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Report on Section 529 College Savings Plans
AGENCY: Departmental Offices, Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: The Department of the Treasury invites the general public to
submit information pertinent to a report it will issue on Section 529
college savings plans. Such information could include data, research
studies, opinions citing hard data, or references thereof. The report
is an initiative of the Middle Class Task Force chaired by Vice
President Joe Biden and was announced in an April 17th press release
that can be found at https://www.whitehouse.gov/the_press_office/Middle-Class-Task-Force-Holds-Meeting-on-College-Affordability/. The
report will examine how people save using 529 plans and whether they
are taking appropriate steps to manage risk. In addition, the report
will identify options and best practices for making the 529 plans more
effective.
DATES: Written comments must be received on or before August 14, 2009,
to be assured of consideration.
Submission of Comments: Please submit comments electronically
through the Federal eRulemaking Portal--``Regulations.gov.'' Go to
https://regulations.gov, select ``Department of the Treasury'' from the
agency menu to submit or view public comments. The ``How to Use This
Site'' and ``User Tips'' links on the Regulations.gov home page provide
information on using Regulations.gov, including instructions for
submitting or viewing public comments, viewing other supporting and
related materials, and viewing the docket after the close of the
comment period.
Please include your name, affiliation, address, e-mail address, and
telephone number(s) in your comment. All statements received, including
attachments and other supporting materials, are part of the public
record and subject to public disclosure. You should submit only
information that you wish to make available publicly.
FOR FURTHER INFORMATION CONTACT: 529ReportInput@do.treas.gov.
SUPPLEMENTARY INFORMATION: The Treasury Department is particularly
interested in data, research studies, opinions citing hard data, or
references thereof, relating to the specific questions set forth below.
1. To what extent are Section 529 savings plan investment options
prudent and to what extent do they accommodate reasonable attitudes
toward risk?
2. To what extent are Section 529 savings plans invested wisely?
a. Is there a tendency for accounts to be too heavily invested in
equities?
b. To what extent do account owners sell equities when prices are
falling and buy equities when prices are rising?
c. Should plans take steps to better assist account owners in
making prudent investment choices? If so, what steps would be
appropriate?
3. To what extent are Section 529 savings plan account fees
reasonable?
a. How do fees compare with similar retail mutual funds, and what
factors might explain any differences?
b. How much variance is there in fees across plans for a similar
investment option, and what factors might explain any such variance?
4. To what extent do low- and middle-income families benefit from
Section 529 savings plans and Section 529 prepaid tuition plans?
a. How do the financial incentives for participation vary with
family income?
b. How does financial aid eligibility affect the financial
incentives for participation?
c. How are contributions, account balances, and tax benefits
distributed across income groups?
d. Controlling for initial family attitudes toward education, does
having a Section 529 savings account increase the beneficiary's
likelihood of attending college?
e. Are state matching grants an effective means of encouraging
Section 529 contributions from low- and moderate-income families?
f. Are tax subsidies for saving the most cost effective way to make
college
[[Page 37308]]
affordable for low- and middle- income families?
5. Do prepaid tuition plans assess a reasonable premium in exchange
for reducing participant risks with respect to investment returns and
increases in the cost of attending college?
Alan B. Krueger,
Assistant Secretary for Economic Policy.
[FR Doc. E9-17916 Filed 7-27-09; 8:45 am]
BILLING CODE 4810-25-P
