Proposed Renewal Without Change; Comment Request; Nine Bank Secrecy Act Recordkeeping Requirements, 33413-33415 [2011-14068]
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Federal Register / Vol. 76, No. 110 / Wednesday, June 8, 2011 / Notices
the customer, including other depositbased loans, if applicable. These include
limits on:
• The number of periods that back-toback advances may be made before a
cooling-off period will be triggered;
• The number of months in which
advances may be outstanding;
• The total amount or percentage of
any deposit that may be advanced in
any period; and
• The total amount or percentage of
any deposit that may be used for
repayment of the advance.
These limits should be adjusted, as
appropriate, based on risks identified
through account monitoring. For
example, if a customer’s direct deposits
stop, no further extensions of credit
should be permitted under the program.
Repayment Terms
Deposit advances should be permitted
to be repaid by direct deposit or by
separate payment in advance of the date
a deposit would be debited without any
additional fee. When program terms
allow for substantial advances relative
to the regular deposit amount, advances
should be permitted to be repaid in
more than one installment over an
extended period of more than one
month. National banks should not
permit repayments of deposit advances
that would overdraw the account or
permit additional advances during any
periods of account overdraft.
Monitoring and Risk Assessments
Deposit-advance accounts should be
subject to reasonable periodic
monitoring to ensure that circumstances
have not changed that adversely affect
credit risk and to identify excessive
usage. Monitoring should include
overdraft and returned-item activity in
the account. There should be
appropriate follow up with the
customer, if warranted, about use of the
account, repayment options, and credit
alternatives.
sroberts on DSK5SPTVN1PROD with NOTICES
Management Oversight
Bank management should receive
regular reports on volume, profitability,
and credit performance of the deposit
advance program. These reports should
segment accounts by level of line usage
to identify excessive deposit-advance
usage. Management also should receive
reports that describe the status and
outcome of internal reviews and
evaluations of accounts identified as
demonstrating excessive usage.
Charge-Offs
Deposit advances that are not repaid
in accordance with the account terms
should be charged off.
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Jkt 223001
Dated: June 1, 2011.
John Walsh,
Acting Comptroller of the Currency.
[FR Doc. 2011–14093 Filed 6–7–11; 8:45 am]
BILLING CODE P
DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network
Proposed Renewal Without Change;
Comment Request; Nine Bank Secrecy
Act Recordkeeping Requirements
Notice and request for
comments.
ACTION:
As part of our continuing
effort to reduce paperwork and
respondent burden, we invite comment
on a proposed renewal, without change,
to recordkeeping requirements found in
existing regulations requiring financial
institutions to keep records pertaining
to Bank Secrecy Act (BSA) reportable
activities. This request for comments is
being made pursuant to the Paperwork
Reduction Act of 1995, Public Law 104–
13, 44 U.S.C. 3506(c)(2)(A).
SUMMARY:
Written comments are welcome
and must be received on or before
August 8, 2011.
DATES:
Written comments should
be submitted to: Financial Crimes
Enforcement Network, P.O. Box 39,
Vienna, VA 22183, Attention: BSA
Recordkeeping Requirements
Comments. Comments also may be
submitted by electronic mail to the
following Internet address:
regcomments@fincen.gov, again with a
caption, in the body of the text, ‘‘BSA
Recordkeeping Requirements
Comments.’’
ADDRESSES:
FOR FURTHER INFORMATION CONTACT:
Financial Crimes Enforcement Network,
Regulatory Policy and Programs
Division at (800) 949–2732, option 6.
SUPPLEMENTARY INFORMATION:
Abstract: The Director of the
Financial Crimes Enforcement Network
(FinCEN) is the delegated administrator
of the BSA. The BSA authorizes the
Director to issue regulations to require
all financial institutions defined as such
in the BSA to maintain or file certain
reports or records that have been
determined to have a high degree of
usefulness in criminal, tax, or regulatory
investigations or proceedings, or in the
conduct of intelligence or counterintelligence activities, including
analysis, to protect against international
terrorism, and to implement anti-money
PO 00000
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Fmt 4703
Sfmt 4703
33413
laundering programs and compliance
procedures.1
Regulations implementing section
5318(h)(1) of the BSA are found in part
at 31 CFR chapter X. In general, the
regulations require financial
institutions, as defined in 31 U.S.C.
5312(a)(2) and 31 CFR 1010.100 to
maintain financial records of BSA
covered transactions.
1. Title: Special rules for casinos 31
CFR 1021.210(b), 31 CFR 1021.100(a)(e)(Old Ref. 31 CFR 103.64), and 31 CFR
1010.430 (Old Ref. 31 CFR 103.38).
OMB Number: 1506–0051.
Current Action: There is no change to
the existing regulation.
Type of Review: Extension without
change of a currently approved
information collection.
Affected Public: Businesses and other
for-profit institutions.
Burden: The estimated number of
recordkeepers is 925. The estimated
annual recordkeeping burden per
recordkeeper is 100 hours, for a total
estimated annual recordkeeping burden
of 92,500 hours.
2. Title: Additional records to be
made and retained by currency dealers
or exchangers (31 CFR 1022.410 (Old
Ref. 31 CFR 103.37) and 31 CFR
1010.430 (Old Ref. 31 CFR 103.38) .
OMB Number: 1506–0052.
Current Action: There is no change to
the existing regulation.
Type of Review: Extension without
change of a currently approved
information collection.
Affected Public: Businesses and other
for-profit institutions.
Burden: The estimated number of
recordkeepers is 2,300. The estimated
annual recordkeeping burden per
recordkeeper is 16 hours, for a total
estimated annual recordkeeping burden
of 368,000 hours.
3. Title: Additional records to be
made and retained by brokers or dealers
in securities (31 CFR 1023.410 (Old Ref.
31 CFR 103.35) and 31 CFR 1010.410
(Old Ref. 103.38).
OMB Number: 1506–0053.
Current Action: There is no change to
the existing regulation.
Type of Review: Extension without
change of a currently approved
information collection.
Affected Public: Businesses and other
for-profit institutions.
1 Public Law 91–508, as amended and codified at
12 U.S.C. 1829b, 12 U.S.C. 1951–1959 and 31 U.S.C.
5311–5332. Language expanding the scope of the
BSA to intelligence or counter-intelligence
activities to protect against international terrorism
was added by section 358 of the Uniting and
Strengthening America by Providing Appropriate
Tools Required to Intercept and Obstruct Terrorism
(USA PATRIOT) Act of 2001, Pubic Law 107–56.
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08JNN1
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33414
Federal Register / Vol. 76, No. 110 / Wednesday, June 8, 2011 / Notices
Burden: The estimated number of
recordkeepers is 8,300. The estimated
annual recordkeeping burden per
recordkeeper is 100 hours, for a total
estimated annual recordkeeping burden
of 830,000 hours.
4. Title: Additional records to be
made and retained by casinos (31 CFR
1021.410 (Old Ref. 103.36) (except 31
CFR 1021.410(b)(10)) (Old Ref. except
103.36(b)(10)), and 31 CFR 1010.430
(Old Ref. 31 CFR 103.38) .
OMB Number: 1506–0054.
Current Action: There is no change to
the existing regulation.
Type of Review: Extension without
change of a currently approved
information collection.
Affected Public: Businesses and other
for-profit institutions.
The burden for the action will be as
follows:
31 CFR 1021.410(a)&(b)(1)–(8). The
estimated number of recordkeepers is
480. The estimated annual
recordkeeping burden per recordkeeper
is 100 hours, for a total estimated
annual recordkeeping burden of 48,000.
31 CFR 1021.410(b)(9). The estimated
number of recordkeepers is 480. The
estimated annual recordkeeping burden
per recordkeeper is 7.5 hours, for a total
estimated annual recordkeeping burden
of 3,600 hours.
31 CFR 1021.410(b)(11). The
estimated number of recordkeepers is
62. The estimated number of
transactions is 215,000 annually and the
total estimated annual recordkeeping
burden is 686 hours.
31 CFR 1021.410(c). The estimated
number of recordkeepers is 480. The
estimated annual recordkeeping burden
per recordkeeper is 4 hours, for a total
estimated annual recordkeeping burden
of 1,920 hours. For a total estimated
annual recordkeeping burden of 54,206
hours.
5. Title: Reports of transactions with
foreign financial agencies 31 CFR
1010.360 (Old Ref. 31 CFR 103.25).2
OMB Number: 1506–0055.
Current Action: There is no change to
the existing regulation.
Type of Review: Extension without
change of a currently approved
information collection.
Affected Public: Businesses or forprofit institutions, and non-profit
institutions.
Burden: The estimated number of
respondents per year is 1. The estimated
number of responses is 1, with a
reporting burden of 1 hour per
2 Treasury may, by regulation, require specified
financial institutions to report transactions by
persons with designated foreign financial agencies.
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21:51 Jun 07, 2011
Jkt 223001
respondent, for a total annual
recordkeeping burden of 1 hour.3
6. Title: Reports of certain domestic
coin and currency transactions. 31 CFR
1010.370 (Old Ref. 31 CFR 103.26), 31
CFR 1010.410(d) (Old Ref. 31 CFR
103.33(d).
OMB Number: 1506–0056.
Current Action: There is no change to
the existing regulation.
Type of Review: Extension without
change of a currently approved
information collection.
Affected Public: Businesses or forprofit institutions, and non-profit
institutions.
Burden: The estimated number of
respondents per year is 3,200. The
estimated number of responses is
17,000, with a reporting burden of 19
minutes per response and a
recordkeeping burden of 5 minutes per
response. Total estimated annual
recordkeeping burden is 6,800 hours.4
7. Title: Purchases of bank checks and
drafts, cashier’s checks, money orders
and traveler’s checks. 31 CFR 1010.415
(Old Ref. 31 CFR 103.29), 31 CFR
1010.430 (Old Ref. 31 CFR 103.38).
OMB Number: 1506–0057.
Current Action: There is no change to
the existing regulation.
Type of Review: Extension without
change of a currently approved
information collection.
Affected Public: Businesses or forprofit institutions, and non-profit
institutions.
Burden: The estimated number of
recordkeepers is 60,900. The average
burden per recordkeeper is 7.5 hours,
for a total estimated annual
recordkeeping burden of 456,750 hours.
8. Title: Records to be made and
retained by financial institutions (31
CFR 1010.410 (Old Ref. 31 CFR 103.33)
(except 1010.410(d) (Old Ref. 31 CFR
103.33(d)) and 31 CFR 1010.430, (Old
Ref. 31 CFR 103.38).
OMB Number: 1506–0058.
Current Action: There is no change to
the existing regulation.
Type of Review: Extension without
change of a currently approved
information collection.
Affected Public: Businesses or forprofit institutions, and non-profit
institutions.
The burden for this action will be as
follows:
3 Should FinCEN issue regulations under this
authority, it will provide a burden estimate specific
to those regulations.
4 Although the burden is stated as an annual
burden in accordance with the Paperwork
Reduction Act, the estimated annual burden is not
intended to indicate that there is a geographic
targeting order in effect throughout a year or in each
year.
PO 00000
Frm 00224
Fmt 4703
Sfmt 4703
31 CFR 1010.410(a)–(c). The
estimated number of recordkeepers is
22,900. The estimated annual
recordkeeping burden per recordkeeper
is 50 hours, for a total estimated annual
recordkeeping burden of 1,145,000
hours.
31 CFR 1010.410(e)–(f). The estimated
number of recordkeepers is 35,500. The
estimated annual recordkeeping burden
per recordkeeper is 16 hours, for a total
estimated annual recordkeeping burden
of 568,000.
31 CFR 1010.410(g). The estimated
number of recordkeepers is 35,500. The
estimated annual recordkeeping burden
per recordkeeper is 12 hours, for a total
estimated annual recordkeeping burden
of 426,000, for a total of 2,139,000
hours.
9. Title: Additional records to be
made and retained by banks (31 CFR
1020.410 (Old Ref. 31 CFR 103.34) and
31 CFR 1010.430 (Old Ref. 31 CFR
103.38).
OMB Number: 1506–0059.
Current Action: There is no change to
the existing regulation.
Type of Review: Extension without
change of a currently approved
information collection.
Affected Public: Businesses or forprofit institutions, and non-profit
institutions.
Burden: The estimated number of
recordkeepers is 22,900. The estimated
annual recordkeeping burden per
recordkeeper is 100 hours for a total
annual recordkeeping burden of
2,290,000 hours.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless it displays a valid control
number assigned by the Office of
Management and Budget (OMB).
Records required to be retained under
the BSA must be retained for five years.
Generally, information collected
pursuant to the BSA is confidential but
may be shared as provided by law with
regulatory and law enforcement
authorities.
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
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Federal Register / Vol. 76, No. 110 / Wednesday, June 8, 2011 / Notices
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.
Dated: May 31, 2011.
James H. Freis, Jr.,
Director, Financial Crimes Enforcement
Network.
[FR Doc. 2011–14068 Filed 6–7–11; 8:45 am]
BILLING CODE 4810–02–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 1099–A
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
1099–A, Acquisition or Abandonment
of Secured Property.
DATES: Written comments should be
received on or before August 8, 2011 to
be assured of consideration.
ADDRESSES: Direct all written comments
to Yvette B. Lawrence, Internal Revenue
Service, room 6129, 1111 Constitution
Avenue, NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the form and instructions
should be directed to Evelyn J. Mack,
(202) 622–7381, Internal Revenue
Service, room 6231, 1111 Constitution
Avenue, NW., Washington, DC 20224,
or through the Internet at
Evelyn.J.Mack@irs.gov.
SUMMARY:
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SUPPLEMENTARY INFORMATION:
Title: Acquisition or Abandonment of
Secured Property.
OMB Number: 1545–0877.
Form Number: 1099–A.
Abstract: Form 1099–A is used by
persons who lend money in connection
with a trade or business, and who
acquire an interest in the property that
VerDate Mar<15>2010
21:51 Jun 07, 2011
Jkt 223001
is security for the loan or who have
reason to know that the property has
been abandoned, to report the
acquisition or abandonment.
Current Actions: There are no changes
being made to the form at this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Businesses or other
for-profit organizations.
Estimated Number of Responses:
386,356.
Estimated Time per Response: 10 min.
Estimated Total Annual Burden
Hours: 61,817.
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 1, 2011.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011–14039 Filed 6–7–11; 8:45 am]
BILLING CODE 4830–01–P
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33415
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 1096
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
1096, Annual Summary and Transmittal
of U.S. Information Returns.
DATES: Written comments should be
received on or before August 8, 2011 to
be assured of consideration.
ADDRESSES: Direct all written comments
to Yvette B. Lawrence, Internal Revenue
Service, Room 6129, 1111 Constitution
Avenue, NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the form and instructions
should be directed to Evelyn J. Mack,
(202) 622–7381, Internal Revenue
Service, Room 6231, 1111 Constitution
Avenue, NW., Washington, DC 20224,
or through the internet at
Evelyn.J.Mack@irs.gov.
SUMMARY:
SUPPLEMENTARY INFORMATION:
Title: Annual Summary and
Transmittal of U.S. Information Returns.
OMB Number: 1545–0108.
Form Number: 1096.
Abstract: Form 1096 is used to
transmit information returns (Forms
1099, 1098, 5498, and W–2G) to the IRS
service centers. Under Internal Revenue
Code section 6041 and related
regulations, a separate Form 1096 is
used for each type of return sent to the
service center by the payer. It is used by
IRS to summarize, categorize, and
process the forms being filed.
Current Actions: There are no changes
being made to the form at this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations, individuals or
households, not-for-profit institutions,
farms, Federal government, and State,
local or tribal governments.
Estimated Number of Responses:
4,420,919.
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]]>Agencies
[Federal Register Volume 76, Number 110 (Wednesday, June 8, 2011)]
[Notices]
[Pages 33413-33415]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-14068]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network
Proposed Renewal Without Change; Comment Request; Nine Bank
Secrecy Act Recordkeeping Requirements
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: As part of our continuing effort to reduce paperwork and
respondent burden, we invite comment on a proposed renewal, without
change, to recordkeeping requirements found in existing regulations
requiring financial institutions to keep records pertaining to Bank
Secrecy Act (BSA) reportable activities. This request for comments is
being made pursuant to the Paperwork Reduction Act of 1995, Public Law
104-13, 44 U.S.C. 3506(c)(2)(A).
DATES: Written comments are welcome and must be received on or before
August 8, 2011.
ADDRESSES: Written comments should be submitted to: Financial Crimes
Enforcement Network, P.O. Box 39, Vienna, VA 22183, Attention: BSA
Recordkeeping Requirements Comments. Comments also may be submitted by
electronic mail to the following Internet address:
regcomments@fincen.gov, again with a caption, in the body of the text,
``BSA Recordkeeping Requirements Comments.''
FOR FURTHER INFORMATION CONTACT: Financial Crimes Enforcement Network,
Regulatory Policy and Programs Division at (800) 949-2732, option 6.
SUPPLEMENTARY INFORMATION:
Abstract: The Director of the Financial Crimes Enforcement Network
(FinCEN) is the delegated administrator of the BSA. The BSA authorizes
the Director to issue regulations to require all financial institutions
defined as such in the BSA to maintain or file certain reports or
records that have been determined to have a high degree of usefulness
in criminal, tax, or regulatory investigations or proceedings, or in
the conduct of intelligence or counter-intelligence activities,
including analysis, to protect against international terrorism, and to
implement anti-money laundering programs and compliance procedures.\1\
---------------------------------------------------------------------------
\1\ Public Law 91-508, as amended and codified at 12 U.S.C.
1829b, 12 U.S.C. 1951-1959 and 31 U.S.C. 5311-5332. Language
expanding the scope of the BSA to intelligence or counter-
intelligence activities to protect against international terrorism
was added by section 358 of the Uniting and Strengthening America by
Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism (USA PATRIOT) Act of 2001, Pubic Law 107-56.
---------------------------------------------------------------------------
Regulations implementing section 5318(h)(1) of the BSA are found in
part at 31 CFR chapter X. In general, the regulations require financial
institutions, as defined in 31 U.S.C. 5312(a)(2) and 31 CFR 1010.100 to
maintain financial records of BSA covered transactions.
1. Title: Special rules for casinos 31 CFR 1021.210(b), 31 CFR
1021.100(a)-(e)(Old Ref. 31 CFR 103.64), and 31 CFR 1010.430 (Old Ref.
31 CFR 103.38).
OMB Number: 1506-0051.
Current Action: There is no change to the existing regulation.
Type of Review: Extension without change of a currently approved
information collection.
Affected Public: Businesses and other for-profit institutions.
Burden: The estimated number of recordkeepers is 925. The estimated
annual recordkeeping burden per recordkeeper is 100 hours, for a total
estimated annual recordkeeping burden of 92,500 hours.
2. Title: Additional records to be made and retained by currency
dealers or exchangers (31 CFR 1022.410 (Old Ref. 31 CFR 103.37) and 31
CFR 1010.430 (Old Ref. 31 CFR 103.38) .
OMB Number: 1506-0052.
Current Action: There is no change to the existing regulation.
Type of Review: Extension without change of a currently approved
information collection.
Affected Public: Businesses and other for-profit institutions.
Burden: The estimated number of recordkeepers is 2,300. The
estimated annual recordkeeping burden per recordkeeper is 16 hours, for
a total estimated annual recordkeeping burden of 368,000 hours.
3. Title: Additional records to be made and retained by brokers or
dealers in securities (31 CFR 1023.410 (Old Ref. 31 CFR 103.35) and 31
CFR 1010.410 (Old Ref. 103.38).
OMB Number: 1506-0053.
Current Action: There is no change to the existing regulation.
Type of Review: Extension without change of a currently approved
information collection.
Affected Public: Businesses and other for-profit institutions.
[[Page 33414]]
Burden: The estimated number of recordkeepers is 8,300. The
estimated annual recordkeeping burden per recordkeeper is 100 hours,
for a total estimated annual recordkeeping burden of 830,000 hours.
4. Title: Additional records to be made and retained by casinos (31
CFR 1021.410 (Old Ref. 103.36) (except 31 CFR 1021.410(b)(10)) (Old
Ref. except 103.36(b)(10)), and 31 CFR 1010.430 (Old Ref. 31 CFR
103.38) .
OMB Number: 1506-0054.
Current Action: There is no change to the existing regulation.
Type of Review: Extension without change of a currently approved
information collection.
Affected Public: Businesses and other for-profit institutions.
The burden for the action will be as follows:
31 CFR 1021.410(a)&(b)(1)-(8). The estimated number of
recordkeepers is 480. The estimated annual recordkeeping burden per
recordkeeper is 100 hours, for a total estimated annual recordkeeping
burden of 48,000.
31 CFR 1021.410(b)(9). The estimated number of recordkeepers is
480. The estimated annual recordkeeping burden per recordkeeper is 7.5
hours, for a total estimated annual recordkeeping burden of 3,600
hours.
31 CFR 1021.410(b)(11). The estimated number of recordkeepers is
62. The estimated number of transactions is 215,000 annually and the
total estimated annual recordkeeping burden is 686 hours.
31 CFR 1021.410(c). The estimated number of recordkeepers is 480.
The estimated annual recordkeeping burden per recordkeeper is 4 hours,
for a total estimated annual recordkeeping burden of 1,920 hours. For a
total estimated annual recordkeeping burden of 54,206 hours.
5. Title: Reports of transactions with foreign financial agencies
31 CFR 1010.360 (Old Ref. 31 CFR 103.25).\2\
---------------------------------------------------------------------------
\2\ Treasury may, by regulation, require specified financial
institutions to report transactions by persons with designated
foreign financial agencies.
---------------------------------------------------------------------------
OMB Number: 1506-0055.
Current Action: There is no change to the existing regulation.
Type of Review: Extension without change of a currently approved
information collection.
Affected Public: Businesses or for-profit institutions, and non-
profit institutions.
Burden: The estimated number of respondents per year is 1. The
estimated number of responses is 1, with a reporting burden of 1 hour
per respondent, for a total annual recordkeeping burden of 1 hour.\3\
---------------------------------------------------------------------------
\3\ Should FinCEN issue regulations under this authority, it
will provide a burden estimate specific to those regulations.
---------------------------------------------------------------------------
6. Title: Reports of certain domestic coin and currency
transactions. 31 CFR 1010.370 (Old Ref. 31 CFR 103.26), 31 CFR
1010.410(d) (Old Ref. 31 CFR 103.33(d).
OMB Number: 1506-0056.
Current Action: There is no change to the existing regulation.
Type of Review: Extension without change of a currently approved
information collection.
Affected Public: Businesses or for-profit institutions, and non-
profit institutions.
Burden: The estimated number of respondents per year is 3,200. The
estimated number of responses is 17,000, with a reporting burden of 19
minutes per response and a recordkeeping burden of 5 minutes per
response. Total estimated annual recordkeeping burden is 6,800
hours.\4\
---------------------------------------------------------------------------
\4\ Although the burden is stated as an annual burden in
accordance with the Paperwork Reduction Act, the estimated annual
burden is not intended to indicate that there is a geographic
targeting order in effect throughout a year or in each year.
---------------------------------------------------------------------------
7. Title: Purchases of bank checks and drafts, cashier's checks,
money orders and traveler's checks. 31 CFR 1010.415 (Old Ref. 31 CFR
103.29), 31 CFR 1010.430 (Old Ref. 31 CFR 103.38).
OMB Number: 1506-0057.
Current Action: There is no change to the existing regulation.
Type of Review: Extension without change of a currently approved
information collection.
Affected Public: Businesses or for-profit institutions, and non-
profit institutions.
Burden: The estimated number of recordkeepers is 60,900. The
average burden per recordkeeper is 7.5 hours, for a total estimated
annual recordkeeping burden of 456,750 hours.
8. Title: Records to be made and retained by financial institutions
(31 CFR 1010.410 (Old Ref. 31 CFR 103.33) (except 1010.410(d) (Old Ref.
31 CFR 103.33(d)) and 31 CFR 1010.430, (Old Ref. 31 CFR 103.38).
OMB Number: 1506-0058.
Current Action: There is no change to the existing regulation.
Type of Review: Extension without change of a currently approved
information collection.
Affected Public: Businesses or for-profit institutions, and non-
profit institutions.
The burden for this action will be as follows:
31 CFR 1010.410(a)-(c). The estimated number of recordkeepers is
22,900. The estimated annual recordkeeping burden per recordkeeper is
50 hours, for a total estimated annual recordkeeping burden of
1,145,000 hours.
31 CFR 1010.410(e)-(f). The estimated number of recordkeepers is
35,500. The estimated annual recordkeeping burden per recordkeeper is
16 hours, for a total estimated annual recordkeeping burden of 568,000.
31 CFR 1010.410(g). The estimated number of recordkeepers is
35,500. The estimated annual recordkeeping burden per recordkeeper is
12 hours, for a total estimated annual recordkeeping burden of 426,000,
for a total of 2,139,000 hours.
9. Title: Additional records to be made and retained by banks (31
CFR 1020.410 (Old Ref. 31 CFR 103.34) and 31 CFR 1010.430 (Old Ref. 31
CFR 103.38).
OMB Number: 1506-0059.
Current Action: There is no change to the existing regulation.
Type of Review: Extension without change of a currently approved
information collection.
Affected Public: Businesses or for-profit institutions, and non-
profit institutions.
Burden: The estimated number of recordkeepers is 22,900. The
estimated annual recordkeeping burden per recordkeeper is 100 hours for
a total annual recordkeeping burden of 2,290,000 hours.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless it displays a valid
control number assigned by the Office of Management and Budget (OMB).
Records required to be retained under the BSA must be retained for five
years. Generally, information collected pursuant to the BSA is
confidential but may be shared as provided by law with regulatory and
law enforcement authorities.
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
[[Page 33415]]
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.
Dated: May 31, 2011.
James H. Freis, Jr.,
Director, Financial Crimes Enforcement Network.
[FR Doc. 2011-14068 Filed 6-7-11; 8:45 am]
BILLING CODE 4810-02-P
