Availability of Records, 8795-8796 [2010-3917]
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8795
Rules and Regulations
Federal Register
Vol. 75, No. 38
Friday, February 26, 2010
This section of the FEDERAL REGISTER
contains regulatory documents having general
applicability and legal effect, most of which
are keyed to and codified in the Code of
Federal Regulations, which is published under
50 titles pursuant to 44 U.S.C. 1510.
The Code of Federal Regulations is sold by
the Superintendent of Documents. Prices of
new books are listed in the first FEDERAL
REGISTER issue of each week.
FEDERAL RETIREMENT THRIFT
INVESTMENT BOARD
5 CFR Part 1631
Availability of Records
Federal Retirement Thrift
Investment Board.
ACTION: Final rule.
sroberts on DSKD5P82C1PROD with RULES
AGENCY:
SUMMARY: The Federal Retirement Thrift
Investment Board (Agency) is amending
its regulations on availability of records
to establish the manner of service for
administrative subpoenas issued by the
Agency and to delegate authority to the
Agency’s General Counsel to issue
administrative subpoenas. These
changes implement section 107 of the
Thrift Savings Plan Enhancement Act of
2009, which gave the Agency authority
to issue subpoenas duces tecum in order
to carry out the Agency’s functions.
DATES: This final rule is effective
February 26, 2010.
FOR FURTHER INFORMATION CONTACT:
Laurissa Stokes at 202–942–1645.
SUPPLEMENTARY INFORMATION: The
Agency administers the Thrift Savings
Plan (TSP), which was established by
the Federal Employees’ Retirement
System Act of 1986 (FERSA), Public
Law 99–335, 100 Stat. 514. The TSP
provisions of FERSA are codified, as
amended, largely at 5 U.S.C. 8351 and
8401–79. The TSP is a tax-deferred
retirement savings plan for Federal
civilian employees and members of the
uniformed services. The TSP is similar
to cash or deferred arrangements
established for private-sector employees
under section 401(k) of the Internal
Revenue Code (26 U.S.C. 401(k)).
This regulation was published in
proposed form on January 19, 2010 (75
FR 2822). No comments were received.
Issuance of Subpoenas
Section 107 of the Thrift Savings Plan
Enhancement Act of 2009 (‘‘the Act’’),
VerDate Nov<24>2008
16:23 Feb 25, 2010
Jkt 220001
Public Law 111–31 (123 Stat. 1776,
1853)(codified at 5 U.S.C. 8480)
authorizes the Agency to issue
administrative subpoenas to compel
production of designated books,
documents, records, electronically
stored information, or tangible things.
The Agency, like other financial
institutions, has been the subject of
fraudulent withdrawals from its
participants’ accounts. The Agency
anticipates using its subpoena authority
to obtain information necessary to
prevent or investigate fraudulent or
otherwise improper routing of
participants’ money to financial
institutions.
The Agency, therefore, needs an
expeditious means to obtain information
from financial institutions to which
participants’ money is transferred.
Prompt action and cooperation from
financial institutions is the best way to
recover or deter fraudulent or improper
routing of participants’ money.
This regulation provides three means
by which the Agency may serve an
administrative subpoena: (1) Certified or
registered mail, return receipt requested,
(2) fax or electronic transmission,
provided the subpoenaed party gives
prior approval, or (3) personal delivery
at the principal place of business or the
last known residential address of the
subpoenaed party. This regulation also
delegates authority to the General
Counsel to issue administrative
subpoenas.
Allowing the use of several alternative
means to accomplish service is intended
to facilitate expeditious cooperation
between the Agency and financial
institutions in an effort to prevent or
investigate fraudulent withdrawals and
transfers. Delegation to the General
Counsel of the authority to issue
administrative subpoenas is intended to
expedite the issuances of subpoenas,
e.g. by removing the need for the staff
of the Office of General Counsel to seek
Executive Director approval for
issuances that are routine or urgent.
Regulatory Flexibility Act
I certify that this regulation will not
have a significant economic impact on
a substantial number of small entities.
This regulation will affect Federal
employees and members of the
uniformed services who participate in
the Thrift Savings Plan, which is a
Federal defined contribution retirement
savings plan created under the Federal
PO 00000
Frm 00001
Fmt 4700
Sfmt 4700
Employees’ Retirement System Act of
1986 (FERSA), Public Law 99–335, 100
Stat. 514, and which is administered by
the Agency. Although it will also
occasionally require financial
institutions to provide information,
such entities rarely constitute small
entities. Additionally, this regulation
provides the Agency with no new
authority; it merely provides guidance
on existing statutory authority.
Paperwork Reduction Act
I certify that these regulations do not
require additional reporting under the
criteria of the Paperwork Reduction Act.
Unfunded Mandates Reform Act of
1995
Pursuant to the Unfunded Mandates
Reform Act of 1995, 2 U.S.C. 602, 632,
653, 1501–1571, the effects of this
regulation on state, local, and tribal
governments and the private sector have
been assessed. This regulation will not
compel the expenditure in any one year
of $100 million or more by state, local,
and tribal governments, in the aggregate,
or by the private sector. Therefore, a
statement under section 1532 is not
required.
Submission to Congress and the
General Accounting Office
Pursuant to 5 U.S.C. 810(a)(1)(A), the
Agency submitted a report containing
this rule and other required information
to the U.S. Senate, the U.S. House of
Representatives, and the Comptroller
General of the United States before
publication of this rule in the Federal
Register. This rule is not a major rule as
defined at 5 U.S.C. 804(2).
List of Subjects in 5 CFR Part 1631
Government employees, Courts,
Freedom of information.
Gregory T. Long,
Executive Director, Federal Retirement Thrift
Investment Board.
For the reasons stated in the preamble,
the Agency amends 5 CFR chapter VI as
follows:
■
PART 1631—AVAILABILITY OF
RECORDS
1. Remove the existing authority
citation for part 1631.
■
E:\FR\FM\26FER1.SGM
26FER1
8796
Federal Register / Vol. 75, No. 38 / Friday, February 26, 2010 / Rules and Regulations
Subpart A—[Amended]
2. Add an authority citation to subpart
A of part 1631 to read as follows:
■
subpoena in the appropriate United
States district court.
[FR Doc. 2010–3917 Filed 2–25–10; 8:45 am]
BILLING CODE 6760–01–P
Authority: 5 U.S.C. 552.
3. Add an authority citation to subpart
B of part 1631 to read as follows:
■
Authority: 5 U.S.C. 552.
The Executive Director or General
Counsel may issue subpoenas pursuant
to 5 U.S.C. 8480. The General Counsel
may delegate this authority to a Deputy
General Counsel, Associate General
Counsel, or Assistant General Counsel.
Production of records.
A subpoena may require the
production of designated books,
documents, records, electronically
stored information, or tangible materials
in the possession or control of the
subpoenaed party when the individual
signing the subpoena has determined
that production is necessary to carry out
any of the Agency’s functions.
sroberts on DSKD5P82C1PROD with RULES
Service.
(a) Return of service. Each subpoena
shall be accompanied by a Return of
Service certificate stating the date and
manner of service and the names of the
persons served.
(b) Methods of service. Subpoenas
shall be served by one of the following
methods:
(1) Certified or registered mail, return
receipt requested to the principal place
of business or the last known residential
address of the subpoenaed party.
(2) Fax or electronic transmission to
the subpoenaed party or the subpoenaed
party’s counsel, provided the
subpoenaed party gives prior approval.
(3) Personal delivery at the principal
place of business or residence of the
subpoenaed party during normal
business hours.
Enforcement.
Upon the failure of any party to
comply with a subpoena, the General
Counsel shall request that the Attorney
General seek enforcement of the
16:23 Feb 25, 2010
Jkt 220001
AGENCY: Internal Revenue Service (IRS),
Treasury.
ACTION: Correcting amendment.
*
*
*
*
(e) Expiration date. This section
expires on or before December 28, 2012.
Diane Williams,
Federal Register Liaison, Publications and
Regulations Branch, Legal Processing
Division, Associate Chief Counsel (Procedure
and Administration).
[FR Doc. 2010–3927 Filed 2–25–10; 8:45 am]
BILLING CODE 4830–01–P
Subpoena authority.
VerDate Nov<24>2008
*
Use of Controlled Corporations To
Avoid the Application of Section 304;
Correction
Subpart C—Administrative Subpoenas
Par. 2. Section 1.304–4T is amended
by revising paragraph (e) to read as
follows:
■
§ 1.304–4T Special rule for the use of
related corporations to avoid the
application of section 304 (temporary).
RIN 1545–BI14
Authority: 5 U.S.C. 8480.
§ 1631.43
Internal Revenue Service
[TD 9477]
Subpart C—Administrative Subpoenas
Sec.
1631.40 Subpoena authority.
1631.41 Production of records.
1631.42 Service.
1631.43 Enforcement.
§ 1631.42
DEPARTMENT OF THE TREASURY
26 CFR Part 1
4. Add subpart C to subpart 1631 to
read as follows:
■
§ 1631.41
Paragraph 1. The authority citation
for part 1 continues to read in part as
follows:
■
Authority: 26 U.S.C. 7805 * * *
Subpart B—[Amended]
§ 1631.40
PART 1—INCOME TAXES
This document contains
corrections to final and temporary
regulations (TD 9477) that were
published in the Federal Register on
Wednesday, December 30, 2009 (74 FR
69021) regarding certain transactions
that are subject to section 304 but that
are entered into with a principal
purpose of avoiding the application of
section 304 to a corporation that is
controlled by the issuing corporation in
the transaction, or with a principal
purpose of avoiding the application of
section 304 to a corporation that
controls the acquiring corporation in the
transaction.
DATES: These corrections are effective
on February 26, 2010 and are applicable
on or after December 29, 2009.
FOR FURTHER INFORMATION CONTACT:
Sean W. Mullaney, (202) 622–3860 (not
a toll free number).
SUPPLEMENTARY INFORMATION:
SUMMARY:
Background
The final and temporary regulations
(TD 9477) that are the subject of these
corrections are under section 304 of the
Internal Revenue Code.
Need for Correction
As published, the final and temporary
regulations (TD 9477) contain an error
that may prove to be misleading and are
in need of clarification.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and
recordkeeping requirements.
Correction of Publication
Accordingly, 26 CFR part 1 is
corrected by making the following
correcting amendments:
■
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Fmt 4700
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DEPARTMENT OF LABOR
Employee Benefits Security
Administration
29 CFR Parts 2560 and 2570
RIN 1210–AB31
Civil Penalties Under ERISA Section
502(c)(8)
AGENCY: Employee Benefits Security
Administration, Labor.
ACTION: Final rule.
SUMMARY: This document contains a
final regulation that establishes
procedures relating to the assessment of
civil penalties by the Department of
Labor under section 502(c)(8) of the
Employee Retirement Income Security
Act of 1974 (ERISA or the Act). Under
the provision, which was added by the
Pension Protection Act of 2006, the
Secretary of Labor is granted authority
to assess civil penalties not to exceed
$1,100 per day against any plan sponsor
of a multiemployer plan for certain
violations of section 305 of ERISA. The
regulation will affect multiemployer
plans that are in either endangered or
critical status.
DATES: This final rule is effective on
March 29, 2010.
FOR FURTHER INFORMATION CONTACT:
Michael Del Conte, Office of Regulations
and Interpretations, Employee Benefits
Security Administration, (202) 693–
8500. This is not a toll-free number.
SUPPLEMENTARY INFORMATION:
E:\FR\FM\26FER1.SGM
26FER1
Agencies
[Federal Register Volume 75, Number 38 (Friday, February 26, 2010)]
[Rules and Regulations]
[Pages 8795-8796]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-3917]
========================================================================
Rules and Regulations
Federal Register
________________________________________________________________________
This section of the FEDERAL REGISTER contains regulatory documents
having general applicability and legal effect, most of which are keyed
to and codified in the Code of Federal Regulations, which is published
under 50 titles pursuant to 44 U.S.C. 1510.
The Code of Federal Regulations is sold by the Superintendent of Documents.
Prices of new books are listed in the first FEDERAL REGISTER issue of each
week.
========================================================================
Federal Register / Vol. 75, No. 38 / Friday, February 26, 2010 /
Rules and Regulations
[[Page 8795]]
FEDERAL RETIREMENT THRIFT INVESTMENT BOARD
5 CFR Part 1631
Availability of Records
AGENCY: Federal Retirement Thrift Investment Board.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: The Federal Retirement Thrift Investment Board (Agency) is
amending its regulations on availability of records to establish the
manner of service for administrative subpoenas issued by the Agency and
to delegate authority to the Agency's General Counsel to issue
administrative subpoenas. These changes implement section 107 of the
Thrift Savings Plan Enhancement Act of 2009, which gave the Agency
authority to issue subpoenas duces tecum in order to carry out the
Agency's functions.
DATES: This final rule is effective February 26, 2010.
FOR FURTHER INFORMATION CONTACT: Laurissa Stokes at 202-942-1645.
SUPPLEMENTARY INFORMATION: The Agency administers the Thrift Savings
Plan (TSP), which was established by the Federal Employees' Retirement
System Act of 1986 (FERSA), Public Law 99-335, 100 Stat. 514. The TSP
provisions of FERSA are codified, as amended, largely at 5 U.S.C. 8351
and 8401-79. The TSP is a tax-deferred retirement savings plan for
Federal civilian employees and members of the uniformed services. The
TSP is similar to cash or deferred arrangements established for
private-sector employees under section 401(k) of the Internal Revenue
Code (26 U.S.C. 401(k)).
This regulation was published in proposed form on January 19, 2010
(75 FR 2822). No comments were received.
Issuance of Subpoenas
Section 107 of the Thrift Savings Plan Enhancement Act of 2009
(``the Act''), Public Law 111-31 (123 Stat. 1776, 1853)(codified at 5
U.S.C. 8480) authorizes the Agency to issue administrative subpoenas to
compel production of designated books, documents, records,
electronically stored information, or tangible things. The Agency, like
other financial institutions, has been the subject of fraudulent
withdrawals from its participants' accounts. The Agency anticipates
using its subpoena authority to obtain information necessary to prevent
or investigate fraudulent or otherwise improper routing of
participants' money to financial institutions.
The Agency, therefore, needs an expeditious means to obtain
information from financial institutions to which participants' money is
transferred. Prompt action and cooperation from financial institutions
is the best way to recover or deter fraudulent or improper routing of
participants' money.
This regulation provides three means by which the Agency may serve
an administrative subpoena: (1) Certified or registered mail, return
receipt requested, (2) fax or electronic transmission, provided the
subpoenaed party gives prior approval, or (3) personal delivery at the
principal place of business or the last known residential address of
the subpoenaed party. This regulation also delegates authority to the
General Counsel to issue administrative subpoenas.
Allowing the use of several alternative means to accomplish service
is intended to facilitate expeditious cooperation between the Agency
and financial institutions in an effort to prevent or investigate
fraudulent withdrawals and transfers. Delegation to the General Counsel
of the authority to issue administrative subpoenas is intended to
expedite the issuances of subpoenas, e.g. by removing the need for the
staff of the Office of General Counsel to seek Executive Director
approval for issuances that are routine or urgent.
Regulatory Flexibility Act
I certify that this regulation will not have a significant economic
impact on a substantial number of small entities. This regulation will
affect Federal employees and members of the uniformed services who
participate in the Thrift Savings Plan, which is a Federal defined
contribution retirement savings plan created under the Federal
Employees' Retirement System Act of 1986 (FERSA), Public Law 99-335,
100 Stat. 514, and which is administered by the Agency. Although it
will also occasionally require financial institutions to provide
information, such entities rarely constitute small entities.
Additionally, this regulation provides the Agency with no new
authority; it merely provides guidance on existing statutory authority.
Paperwork Reduction Act
I certify that these regulations do not require additional
reporting under the criteria of the Paperwork Reduction Act.
Unfunded Mandates Reform Act of 1995
Pursuant to the Unfunded Mandates Reform Act of 1995, 2 U.S.C. 602,
632, 653, 1501-1571, the effects of this regulation on state, local,
and tribal governments and the private sector have been assessed. This
regulation will not compel the expenditure in any one year of $100
million or more by state, local, and tribal governments, in the
aggregate, or by the private sector. Therefore, a statement under
section 1532 is not required.
Submission to Congress and the General Accounting Office
Pursuant to 5 U.S.C. 810(a)(1)(A), the Agency submitted a report
containing this rule and other required information to the U.S. Senate,
the U.S. House of Representatives, and the Comptroller General of the
United States before publication of this rule in the Federal Register.
This rule is not a major rule as defined at 5 U.S.C. 804(2).
List of Subjects in 5 CFR Part 1631
Government employees, Courts, Freedom of information.
Gregory T. Long,
Executive Director, Federal Retirement Thrift Investment Board.
0
For the reasons stated in the preamble, the Agency amends 5 CFR chapter
VI as follows:
PART 1631--AVAILABILITY OF RECORDS
0
1. Remove the existing authority citation for part 1631.
[[Page 8796]]
Subpart A--[Amended]
0
2. Add an authority citation to subpart A of part 1631 to read as
follows:
Authority: 5 U.S.C. 552.
Subpart B--[Amended]
0
3. Add an authority citation to subpart B of part 1631 to read as
follows:
Authority: 5 U.S.C. 552.
0
4. Add subpart C to subpart 1631 to read as follows:
Subpart C--Administrative Subpoenas
Sec.
1631.40 Subpoena authority.
1631.41 Production of records.
1631.42 Service.
1631.43 Enforcement.
Authority: 5 U.S.C. 8480.
Subpart C--Administrative Subpoenas
Sec. 1631.40 Subpoena authority.
The Executive Director or General Counsel may issue subpoenas
pursuant to 5 U.S.C. 8480. The General Counsel may delegate this
authority to a Deputy General Counsel, Associate General Counsel, or
Assistant General Counsel.
Sec. 1631.41 Production of records.
A subpoena may require the production of designated books,
documents, records, electronically stored information, or tangible
materials in the possession or control of the subpoenaed party when the
individual signing the subpoena has determined that production is
necessary to carry out any of the Agency's functions.
Sec. 1631.42 Service.
(a) Return of service. Each subpoena shall be accompanied by a
Return of Service certificate stating the date and manner of service
and the names of the persons served.
(b) Methods of service. Subpoenas shall be served by one of the
following methods:
(1) Certified or registered mail, return receipt requested to the
principal place of business or the last known residential address of
the subpoenaed party.
(2) Fax or electronic transmission to the subpoenaed party or the
subpoenaed party's counsel, provided the subpoenaed party gives prior
approval.
(3) Personal delivery at the principal place of business or
residence of the subpoenaed party during normal business hours.
Sec. 1631.43 Enforcement.
Upon the failure of any party to comply with a subpoena, the
General Counsel shall request that the Attorney General seek
enforcement of the subpoena in the appropriate United States district
court.
[FR Doc. 2010-3917 Filed 2-25-10; 8:45 am]
BILLING CODE 6760-01-P