Agency Information Collection Activity; Proposed Collection, 57801-57802 [2011-23719]

Download as PDF Federal Register / Vol. 76, No. 180 / Friday, September 16, 2011 / Notices mstockstill on DSK4VPTVN1PROD with NOTICES and reporting systems.12 Currently the Securities and Exchange Commission (SEC) mandates electronic filing,13 as does the Commodity Futures Trading Commission (CFTC).14 c. Insurance companies: Based on information available we believe this change in filing procedures will have minimal impact on these institutions. This group is highly automated.15 d. Casinos and Card Clubs: 16 Based on information available we believe this change in filing procedures will have minimal impact on these institutions. e. Money Services Businesses (MSBs): Information gained from a review of the MSB filings of the currency transaction report (CTR), SAR, and Registration of Money Services Business (RMSB) forms indicates that some impact to this group can be expected. Information in trade journals and other publications, along with informal comments from the Internal Revenue Service Small Business/Self Employed, indicate that most filers have Internet connectivity. MSBs routinely accept and process credit card transactions requiring automated communications with the approving card center. They also routinely place orders for goods and services through the Internet and electronically access bill paying services. Additionally, basic Internet access can be obtained through a simple inexpensive dial-up connection or at professional external Internet facilities such as service providers for those MSBs without Internet connectivity. Lastly, FinCEN has included provisions for requesting a hardship exception in this notice in case unforeseen situations arise.17 f. Service Providers: There is a network of third-party service providers with which financial institutions may contract to provide electronic filing services to the BSA E-Filing System. FinCEN believes this group to be highly 12 Currently both the SEC and the CFTC require electronic reporting, The SEC through the EDGAR system and the CFTC through the NFC Windjammer and Easy File systems. 13 See https://www.sec.gov/info/edgar/ regoverview.htm. 14 For financial institutions subject to CFTC oversight See NFA Electronic Filings at https:// www.nfa.futures.org/NFA-electronic-filings/ index.HTML. 15 See the National Insurance Producer Registry (NIPR) at https://www.nipr.com/. NIPR is a unique public-private partnership that supports the work of the states and the National Association of Insurance Commissioners (NAIC) in making the producerlicensing process more cost-effective, streamlined and uniform for the benefit of regulators, the insurance industry and the consumers they protect and serve. 16 Casinos and Card Clubs with gross annual gaming revenues in excess of $1 million (see 31 CFR1010.100 (t)(5)(ii) and (6)(ii)). 17 See Filer impact paragraph ‘‘g.’’ VerDate Mar<15>2010 16:26 Sep 15, 2011 Jkt 223001 automated and many are already using the BSA E-Filing System. We do not anticipate that this proposal will have an impact on this group. g. Small businesses: 18 In support of small businesses, FinCEN’s Office of Compliance will provide a temporary hardship exemption capability. A small business may request, and may be granted, an emergency extension of up to one year if it can document a sufficiently serious problem that prevents compliance with the new filing requirements. The approved extension will be effective for one year from the effective date of this notice.19 A hardship request based solely on a lack of Internet connectivity or a business decision to restrict Internet connectivity will not be considered adequate justification for an extension. h. Individual filers: Effective August 2011, FinCEN expanded its support of electronic filing to individuals.20 The capability to file the Report of Foreign Bank and Financial Accounts (FBAR Form TD F 90–22.1) became available and individuals worldwide can sign up to file their individual FBAR’s by accessing the FinCEN E-Filing Web site. Based on new applications to date, there is no indication of any issues with individuals using this new capability. Paperwork Reduction Act (PRA) Type of Review: Review of a new proposal to mandate the electronic filing of BSA reports. Affected Public: Businesses or other for-profit and non-profit institutions. Frequency: As required. Estimated Burden: Effective with the FinCEN IT Modernization, BSA reporting will be supported by seven BSA reports.21 The burden for electronic filing and recordkeeping of each BSA report is reflected in the OMB approved burden 22 for each of these reports. The non-reporting recordkeeping burden is reflected separately.23 57801 Estimated number of respondents for all reports = 74,900.24 Estimated Total Annual Responses for all reports = 16,172,770. Estimated Total Annual Burden Hours = 20,874,761.25 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. Records required to be retained pursuant to the BSA must be retained for five years. 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 only by electronic means 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 (filers), including through the use of automated collection techniques or other forms of information technology; (e) the practicality of utilizing external Internet facilities or service providers to occasionally file BSA reports, (f) estimates of capital or start-up costs and costs of operation, maintenance, or purchase of services to provide information by filers that currently do not have Internet access, and (g) the enhanced security of sensitive information and significant cost savings of electronic filing. Dated: September 13, 2011. James H. Freis, Jr., Director, Financial Crimes Enforcement Network. [FR Doc. 2011–23841 Filed 9–15–11; 8:45 am] 18 See the Small Business Administration’s (SBA) Web site https://www.sba.gov/content/what-sbasdefinition-small-business-concern for SBA’s definition of a small business concern. 19 Request for emergency extension will be mailed to: Department of the Treasury, Financial Crimes Enforcement Network, Attention RPP–CP, PO Box 39, Vienna, VA 22183 or may be e-mailed to: regcomments@fincen.gov. 20 See page 3 Background. 21 BSA–SAR, BSA–CTR, Designation Of Exempt Person, CMIR, RMSB, Foreign Bank Account Report, and the Report of Cash Over $10,000 Received in a Trade or Business (Form 8300). 22 See OMB Control Numbers 1506–0065, 1506– 0064, 1506–0009, 1506–0013, 1506–0014, 1506– 0018. 23 See OMB Control Numbers 1506–0051 through 1506–0059. PO 00000 Frm 00090 Fmt 4703 Sfmt 4703 BILLING CODE 4810–02–P DEPARTMENT OF THE TREASURY Internal Revenue Service Agency Information Collection Activity; Proposed Collection Internal Revenue Service (IRS), Treasury. AGENCY: 24 All filers subject to BSA reporting requirements excluding CMIR. See supra note 1. 25 Includes all reporting and recordkeeping burden associated with filing BSA reports. E:\FR\FM\16SEN1.SGM 16SEN1 57802 Federal Register / Vol. 76, No. 180 / Friday, September 16, 2011 / Notices Notice and request for comments. ACTION: 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)). SUMMARY: Written comments should be received on or before November 15, 2011 to be assured of consideration. ADDRESSES: Direct all written comments to Yvette 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 regulation should be directed to R. Joseph Durbala, at (202) 622–3634, or at Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the Internet at RJoseph.Durbala@irs.gov. DATES: mstockstill on DSK4VPTVN1PROD with NOTICES SUPPLEMENTARY INFORMATION: Title: Nuclear Decommissioning Funds; Revised Schedules of Ruling Amounts. OMB Number: 1545–1511. Regulation Project Number: REG– 209828–96 (TD 8758–final). Abstract: This regulation relates to requests for revised schedules of ruling amounts for nuclear decommissioning reserve funds under section 468A(d) of the Internal Revenue Code. The regulation eases the burden on affected taxpayers by permitting electing taxpayers with qualifying interests in nuclear power plants to adjust their ruling amounts under a formula or method rather than by filing a request for a revised schedule of ruling amounts. Current Actions: There is no change to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 20. Estimated Time per Respondent: 5 hours. Estimated Total Annual Burden Hours: 100. 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 VerDate Mar<15>2010 17:58 Sep 15, 2011 Jkt 223001 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: September 9, 2011. Yvette Lawrence, IRS Reports Clearance Officer. [FR Doc. 2011–23719 Filed 9–15–11; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 4419 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 4419, Application for Filing Information Returns Electronically (FIRE). DATES: Written comments should be received on or before November 15, 2011 to be assured of consideration. SUMMARY: PO 00000 Frm 00091 Fmt 4703 Sfmt 4703 Direct all written comments to Yvette 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 R. Joseph Durbala at Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202) 622– 3634, or through the Internet at RJoseph.Durbala@irs.gov. ADDRESSES: SUPPLEMENTARY INFORMATION: Title: Application for Filing Information Returns Electronically (FIRE). OMB Number: 1545–0387. Form Number: 4419. Abstract: Under section 6011(e)(2)(a) of the Internal Revenue Code, any person, including corporations, partnerships, individuals, estates and trusts, who is required to file 250 or more information returns must file such returns magnetically or electronically. Payers required to file on magnetic media or electronically must complete Form 4419 to receive authorization to file. 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, non-profit institutions, and Federal, State, local or tribal governments. Estimated Number of Respondents: 15,000. Estimated Time per Respondents: 26 minutes. Estimated Total Annual Burden Hours: 6,500. 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 E:\FR\FM\16SEN1.SGM 16SEN1

Agencies

[Federal Register Volume 76, Number 180 (Friday, September 16, 2011)]
[Notices]
[Pages 57801-57802]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-23719]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Agency Information Collection Activity; Proposed Collection

AGENCY: Internal Revenue Service (IRS), Treasury.

[[Page 57802]]


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)).

DATES: Written comments should be received on or before November 15, 
2011 to be assured of consideration.

ADDRESSES: Direct all written comments to Yvette 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 regulation should be directed to R. Joseph Durbala, at 
(202) 622-3634, or at Internal Revenue Service, room 6129, 1111 
Constitution Avenue, NW., Washington, DC 20224, or through the Internet 
at RJoseph.Durbala@irs.gov.

SUPPLEMENTARY INFORMATION:
    Title: Nuclear Decommissioning Funds; Revised Schedules of Ruling 
Amounts.
    OMB Number: 1545-1511.
    Regulation Project Number: REG-209828-96 (TD 8758-final).
    Abstract: This regulation relates to requests for revised schedules 
of ruling amounts for nuclear decommissioning reserve funds under 
section 468A(d) of the Internal Revenue Code. The regulation eases the 
burden on affected taxpayers by permitting electing taxpayers with 
qualifying interests in nuclear power plants to adjust their ruling 
amounts under a formula or method rather than by filing a request for a 
revised schedule of ruling amounts.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 20.
    Estimated Time per Respondent: 5 hours.
    Estimated Total Annual Burden Hours: 100.
    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: September 9, 2011.
Yvette Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011-23719 Filed 9-15-11; 8:45 am]
BILLING CODE 4830-01-P

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