Interest on Untimely Paid Vessel Repair Duties, 17331-17332 [2012-7229]

Download as PDF Federal Register / Vol. 77, No. 58 / Monday, March 26, 2012 / Rules and Regulations sroberts on DSK5SPTVN1PROD with RULES § 4.27 Additional reporting by advisors of certain large commodity pools. (a) General definitions. For the purposes of this section: (1) Commodity pool operator or CPO has the same meaning as commodity pool operator defined in section 1a(11) of the Commodity Exchange Act; (2) Commodity trading advisor or CTA has the same meaning as defined in section 1a(12); (3) Direct has the same meaning as defined in section 4.10(f); (4) Net asset value or NAV has the same meaning as net asset value as defined in section 4.10(b); (5) Pool has the same meaning as defined in section 1(a)(10) of the Commodity Exchange Act; (6) Reporting period means the reporting period as defined in the forms promulgated hereunder; (b) Persons required to report. A reporting person is: (1) Any commodity pool operator that is registered or required to be registered under the Commodity Exchange Act and the Commission’s regulations thereunder; or (2) Any commodity trading advisor that is registered or required to be registered under the Commodity Exchange Act and the Commission’s regulations thereunder. (c) Reporting. (1) Except as provided in paragraph (c)(2) of this section, each reporting person shall file with the National Futures Association, a report with respect to the directed assets of each pool under the advisement of the commodity pool operator consistent with appendix A to this part or commodity trading advisor consistent with appendix C to this part. (2) All financial information shall be reported in accordance with generally accepted accounting principles consistently applied. (d) Investment advisers to private funds. Except as otherwise expressly provided in this section, CPOs and CTAs that are dually registered with the Securities and Exchange Commission and are required to file Form PF pursuant to the rules promulgated under the Investment Advisers Act of 1940, shall file Form PF with the Securities and Exchange Commission in lieu of filing such other reports with respect to private funds as may be required under this section. In addition, except as otherwise expressly provided in this section, CPOs and CTAs that are dually registered with the Securities and Exchange Commission and are required to file Form PF pursuant to the rules promulgated under the Investment Advisers Act of 1940, may file Form PF with the Securities and Exchange VerDate Mar<15>2010 16:21 Mar 23, 2012 Jkt 226001 Commission in lieu of filing such other reports with respect to commodity pools that are not private funds as may be required under this section. Dually registered CPOs and CTAs that file Form PF with the Securities and Exchange Commission will be deemed to have filed Form PF with the Commission for purposes of any enforcement action regarding any false or misleading statement of a material fact in Form PF. (e) Filing requirements. Each report required to be filed with the National Futures Association under this section shall: (1)(i) Contain an oath and affirmation that, to the best of the knowledge and belief of the individual making the oath and affirmation, the information contained in the document is accurate and complete; Provided, however, That it shall be unlawful for the individual to make such oath or affirmation if the individual knows or should know that any of the information in the document is not accurate and complete and (ii) Each oath or affirmation must be made by a representative duly authorized to bind the CPO or CTA. (2) Be submitted consistent with the National Futures Association’s electronic filing procedures. (f) Termination of reporting requirement. All reporting persons shall continue to file such reports as are required under this section until the effective date of a Form 7W filed in accordance with the Commission’s regulations. (g) Public records. Reports filed pursuant to this section shall not be considered Public Records as defined in § 145.0 of this chapter. ACTION: 17331 Final rule. This document adopts as a final rule, without change, the proposed amendments to the CBP regulations that provide that where an owner or master of a vessel documented under the laws of the United States fails to timely pay the duties determined to be due to CBP that are associated with the purchase of equipment for, or repair to, the vessel while it is outside the United States, interest will accrue on the amounts owed to CBP and that person will be liable for interest. The purpose of this document is to ensure that the CBP regulations reflect that CBP collects interest as part of its inherent revenue collection functions in situations where an owner or master of a vessel fails to pay the vessel repair duties determined to be due within 30 days of CBP issuing the bill. DATES: Effective Date: April 25, 2012. FOR FURTHER INFORMATION CONTACT: George F. McCray, Chief, Cargo Security, Carriers and Immigration Branch, Regulations and Rulings, Office of International Trade, (202) 325–0082. SUPPLEMENTARY INFORMATION: SUMMARY: Background DEPARTMENT OF HOMELAND SECURITY On April 1, 2011, U.S. Customs and Border Protection (CBP) published in the Federal Register (76 FR 18132) a proposal to amend title 19 of the Code of Federal Regulations (19 CFR) regarding the payment of interest on untimely paid vessel repairs. Specifically, CBP proposed amendments to the regulations to provide that where an owner or master of a vessel documented under the laws of the United States fails to timely pay the duties determined to be due to CBP that are associated with the purchase of equipment for, or repair to, the vessel while it is outside the United States, interest will accrue on the amounts owed to CBP and that person will be liable for interest. CBP solicited comments on the proposed rulemaking. U.S. Customs and Border Protection Discussion of Comment Editorial Note: FR DOC 2012–3390 appearing on pages 11252–11344 in the issue of Friday, February 24, 2012 is being partially republished due to numerous errors. [FR Doc. C1–2012–3390 Filed 3–23–12; 8:45 a.m.] BILLING CODE 1505–01–D DEPARTMENT OF THE TREASURY 19 CFR PARTS 4 and 24 [CBP Dec. 12–04; USCBP–2008–0085] RIN 1515–AD74 One commenter responded to the solicitation of public comment in the proposed rule. The comment was favorable and recommended adoption of the proposed amendments as a final rule. Conclusion Interest on Untimely Paid Vessel Repair Duties U.S. Customs and Border Protection, Department of Homeland Security; Department of the Treasury. AGENCY: PO 00000 Frm 00009 Fmt 4700 Sfmt 4700 In light of the fact that a single favorable comment was submitted in response to CBP’s solicitation of public comment, CBP has determined to adopt as final the proposed rule published in E:\FR\FM\26MRR1.SGM 26MRR1 17332 Federal Register / Vol. 77, No. 58 / Monday, March 26, 2012 / Rules and Regulations Section 4.14 also issued under 19 U.S.C. 1466, 1498; 31 U.S.C. 9701. the Federal Register (76 FR 18132) on April 1, 2011 without change. * The Regulatory Flexibility Act and Executive Order 12866 Because these amendments merely reflect the agency’s revenue collection functions and rights, and impose no additional regulatory burden on the importing public, pursuant to the provisions of the Regulatory Flexibility Act, 5 U.S.C. 601 et seq., it is certified that the amendments will not have a significant economic impact on a substantial number of small entities. Further, these amendments do not meet the criteria for a ‘‘significant regulatory action’’ as specified in Executive Order 12866. Paperwork Reduction Act As there are no new collections of information in this document, the provisions of the Paperwork Reduction Act of 1995 (44 U.S.C. 3507) are inapplicable. Signing Authority This rulemaking is being issued in accordance with 19 CFR 0.1(a)(1), pertaining to the authority of the Secretary of the Treasury (or his/her delegate) to approve regulations related to certain CBP revenue functions. List of Subjects Administrative practice and procedure, Cargo vessels, Customs duties and inspection, Entry, Passenger vessels, Penalties, Repairs, Reporting and recordkeeping requirements, Shipping, Vessels. 19 CFR Part 24 Accounting, Claims, Customs duties and inspection, Exports, Imports, Interest, Reporting and recordkeeping requirements, Taxes, User fees, Wages. Amendments to the Regulations For the reasons set forth in the preamble, parts 4 and 24 of title 19 of the CFR (19 CFR Parts 4 and 24) are amended as set forth below. PART 4—VESSELS IN FOREIGN AND DOMESTIC TRADE 1. The general authority citation for part 4 continues, and the specific authority citation for § 4.14 is revised, to read as follows: sroberts on DSK5SPTVN1PROD with RULES ■ Authority: 5 U.S.C. 301; 19 U.S.C. 66, 1431, 1433, 1434, 1624, 2071 note; 46 U.S.C. 501, 60105. * * VerDate Mar<15>2010 § 4.14 Equipment purchases for, and repairs to, American vessels. * * * * * (i) * * * (3) Application for Relief; failure to file or denial in whole or in part. If no Application for Relief is filed, or if a timely filed Application for Relief is denied in whole or in part, the VRU will determine the amount of duty due and issue a bill to the party who filed the vessel repair entry. If the bill is not timely paid, interest will accrue as provided in § 24.3a(b)(1) of this chapter. (j) * * * (1) * * * The owner or master of the vessel who fails to timely pay the duty determined to be due is liable for interest as provided in § 24.3a(b)(1) of this chapter. * * * * * PART 24—CUSTOMS FINANCIAL AND ACCOUNTING PROCEDURE 19 CFR Part 4 * * * * * 2. In § 4.14: a. The section heading is revised; b. Paragraph (i)(3) is redesignated as paragraph (i)(4) and a new paragraph (i)(3) is added; and ■ c. Paragraph (j)(1) is amended by adding a new third sentence. The revisions and additions read as follows: ■ ■ ■ * * 16:21 Mar 23, 2012 Jkt 226001 3. The general authority citation for part 24 is revised to read as follows: ■ g. In paragraph (b)(2)(i)(B)(1), by removing the word ‘‘shall’’ and adding in its place the word ‘‘will’’; ■ h. In paragraph (b)(2)(i)(B)(2), by removing the word ‘‘shall’’ and adding in its place the word ‘‘will’’; ■ i. In paragraph (b)(2)(i)(B)(3), by removing the word ‘‘shall’’ wherever it appears and adding in each place the word ‘‘will’’; ■ j. In paragraph (b)(2)(i)(B)(4), by removing the word ‘‘shall’’ and adding in its place the word ‘‘will’’; ■ k. In paragraph (b)(2)(i)(C), by removing the word ‘‘shall’’ and adding in its place the word ‘‘will’’; ■ l. In paragraph (b)(2)(ii), by removing the word ‘‘shall’’ wherever it appears and adding in each place the word ‘‘will’’; and ■ m. In paragraph (c)(1), by removing the words ‘‘CBP Office of Finance, Indianapolis, Indiana’’ and adding in their place the language ‘‘CBP’s Revenue Division, Office of Administration’’. The revision reads as follows: ■ § 24.3a CBP bills; interest assessment on bills; delinquency; notice to principal and surety. * * * * * David V. Aguilar, Acting Commissioner, U.S. Customs and Border Protection. Approved: March 21, 2012. Timothy E. Skud, Deputy Assistant Secretary of the Treasury. [FR Doc. 2012–7229 Filed 3–23–12; 8:45 am] BILLING CODE 9111–14–P Authority: 5 U.S.C. 301; 19 U.S.C. 58a– 58c, 66, 1202 (General Note 3(i), Harmonized Tariff Schedule of the United States, 1505, 1520, 1624; 26 U.S.C. 4461, 4462; 31 U.S.C. 3717, 9701; Pub. L. 107–296, 116 Stat. 2135 (6 U.S.C. 1 et seq.). DEPARTMENT OF HOMELAND SECURITY * 33 CFR Part 117 * * * * 4. Section 24.3a is amended: a. By revising the section heading; b. In paragraph (a): by adding, after the parenthetical phrase that ends with the word ‘‘reliquidation’’, the language ‘‘, or vessel repair duties,’’; and by removing the words ‘‘shall be’’ and adding in their place the word ‘‘are’’; ■ c. In the heading text to paragraph (b)(1), by adding after the word ‘‘for’’ the words ‘‘vessel repair duties,’’; ■ d. In paragraph (b)(2)(i) introductory text, by removing the word ‘‘shall’’ and adding in its place the word ‘‘will’’; ■ e. In paragraph (b)(2)(i)(A), by removing the word ‘‘shall’’ and adding in its place the word ‘‘will’’; ■ f. In paragraph (b)(2)(i)(B) introductory text, by removing the word ‘‘shall’’ and adding in its place the word ‘‘will’’; ■ ■ ■ PO 00000 Frm 00010 Fmt 4700 Sfmt 4700 Coast Guard [Docket No. USCG–2012–0153] Drawbridge Operation Regulations; Pequonnock River, Bridgeport, CT, Maintenance Coast Guard, DHS. Notice of temporary deviation from regulations. AGENCY: ACTION: The Commander, First Coast Guard District, has issued a temporary deviation from the regulation governing the operation of the Metro North (Peck) Bridge across the Pequonnock River, mile 0.3, at Bridgeport, Connecticut. The deviation allows the bridge to remain in the closed position to facilitate miter rail repair. DATES: This deviation is effective from April 15, 2012 through June 30, 2012. SUMMARY: E:\FR\FM\26MRR1.SGM 26MRR1

Agencies

[Federal Register Volume 77, Number 58 (Monday, March 26, 2012)]
[Rules and Regulations]
[Pages 17331-17332]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-7229]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF HOMELAND SECURITY

U.S. Customs and Border Protection

DEPARTMENT OF THE TREASURY

19 CFR PARTS 4 and 24

[CBP Dec. 12-04; USCBP-2008-0085]
RIN 1515-AD74


Interest on Untimely Paid Vessel Repair Duties

AGENCY: U.S. Customs and Border Protection, Department of Homeland 
Security; Department of the Treasury.

ACTION: Final rule.

-----------------------------------------------------------------------

SUMMARY: This document adopts as a final rule, without change, the 
proposed amendments to the CBP regulations that provide that where an 
owner or master of a vessel documented under the laws of the United 
States fails to timely pay the duties determined to be due to CBP that 
are associated with the purchase of equipment for, or repair to, the 
vessel while it is outside the United States, interest will accrue on 
the amounts owed to CBP and that person will be liable for interest. 
The purpose of this document is to ensure that the CBP regulations 
reflect that CBP collects interest as part of its inherent revenue 
collection functions in situations where an owner or master of a vessel 
fails to pay the vessel repair duties determined to be due within 30 
days of CBP issuing the bill.

DATES: Effective Date: April 25, 2012.

FOR FURTHER INFORMATION CONTACT: George F. McCray, Chief, Cargo 
Security, Carriers and Immigration Branch, Regulations and Rulings, 
Office of International Trade, (202) 325-0082.

SUPPLEMENTARY INFORMATION:

Background

    On April 1, 2011, U.S. Customs and Border Protection (CBP) 
published in the Federal Register (76 FR 18132) a proposal to amend 
title 19 of the Code of Federal Regulations (19 CFR) regarding the 
payment of interest on untimely paid vessel repairs. Specifically, CBP 
proposed amendments to the regulations to provide that where an owner 
or master of a vessel documented under the laws of the United States 
fails to timely pay the duties determined to be due to CBP that are 
associated with the purchase of equipment for, or repair to, the vessel 
while it is outside the United States, interest will accrue on the 
amounts owed to CBP and that person will be liable for interest.
    CBP solicited comments on the proposed rulemaking.

Discussion of Comment

    One commenter responded to the solicitation of public comment in 
the proposed rule. The comment was favorable and recommended adoption 
of the proposed amendments as a final rule.

Conclusion

    In light of the fact that a single favorable comment was submitted 
in response to CBP's solicitation of public comment, CBP has determined 
to adopt as final the proposed rule published in

[[Page 17332]]

the Federal Register (76 FR 18132) on April 1, 2011 without change.

The Regulatory Flexibility Act and Executive Order 12866

    Because these amendments merely reflect the agency's revenue 
collection functions and rights, and impose no additional regulatory 
burden on the importing public, pursuant to the provisions of the 
Regulatory Flexibility Act, 5 U.S.C. 601 et seq., it is certified that 
the amendments will not have a significant economic impact on a 
substantial number of small entities. Further, these amendments do not 
meet the criteria for a ``significant regulatory action'' as specified 
in Executive Order 12866.

Paperwork Reduction Act

    As there are no new collections of information in this document, 
the provisions of the Paperwork Reduction Act of 1995 (44 U.S.C. 3507) 
are inapplicable.

Signing Authority

    This rulemaking is being issued in accordance with 19 CFR 
0.1(a)(1), pertaining to the authority of the Secretary of the Treasury 
(or his/her delegate) to approve regulations related to certain CBP 
revenue functions.

List of Subjects

19 CFR Part 4

    Administrative practice and procedure, Cargo vessels, Customs 
duties and inspection, Entry, Passenger vessels, Penalties, Repairs, 
Reporting and recordkeeping requirements, Shipping, Vessels.

19 CFR Part 24

    Accounting, Claims, Customs duties and inspection, Exports, 
Imports, Interest, Reporting and recordkeeping requirements, Taxes, 
User fees, Wages.

Amendments to the Regulations

    For the reasons set forth in the preamble, parts 4 and 24 of title 
19 of the CFR (19 CFR Parts 4 and 24) are amended as set forth below.

PART 4--VESSELS IN FOREIGN AND DOMESTIC TRADE

0
1. The general authority citation for part 4 continues, and the 
specific authority citation for Sec.  4.14 is revised, to read as 
follows:

    Authority:  5 U.S.C. 301; 19 U.S.C. 66, 1431, 1433, 1434, 1624, 
2071 note; 46 U.S.C. 501, 60105.
* * * * *
    Section 4.14 also issued under 19 U.S.C. 1466, 1498; 31 U.S.C. 
9701.
* * * * *

0
2. In Sec.  4.14:
0
a. The section heading is revised;
0
b. Paragraph (i)(3) is redesignated as paragraph (i)(4) and a new 
paragraph (i)(3) is added; and
0
c. Paragraph (j)(1) is amended by adding a new third sentence.
    The revisions and additions read as follows:


Sec.  4.14  Equipment purchases for, and repairs to, American vessels.

* * * * *
    (i) * * *
    (3) Application for Relief; failure to file or denial in whole or 
in part. If no Application for Relief is filed, or if a timely filed 
Application for Relief is denied in whole or in part, the VRU will 
determine the amount of duty due and issue a bill to the party who 
filed the vessel repair entry. If the bill is not timely paid, interest 
will accrue as provided in Sec.  24.3a(b)(1) of this chapter.
    (j) * * *
    (1) * * * The owner or master of the vessel who fails to timely pay 
the duty determined to be due is liable for interest as provided in 
Sec.  24.3a(b)(1) of this chapter.
* * * * *

PART 24--CUSTOMS FINANCIAL AND ACCOUNTING PROCEDURE

0
3. The general authority citation for part 24 is revised to read as 
follows:

    Authority:  5 U.S.C. 301; 19 U.S.C. 58a-58c, 66, 1202 (General 
Note 3(i), Harmonized Tariff Schedule of the United States, 1505, 
1520, 1624; 26 U.S.C. 4461, 4462; 31 U.S.C. 3717, 9701; Pub. L. 107-
296, 116 Stat. 2135 (6 U.S.C. 1 et seq.).
* * * * *

0
4. Section 24.3a is amended:
0
a. By revising the section heading;
0
b. In paragraph (a): by adding, after the parenthetical phrase that 
ends with the word ``reliquidation'', the language ``, or vessel repair 
duties,''; and by removing the words ``shall be'' and adding in their 
place the word ``are'';
0
c. In the heading text to paragraph (b)(1), by adding after the word 
``for'' the words ``vessel repair duties,'';
0
d. In paragraph (b)(2)(i) introductory text, by removing the word 
``shall'' and adding in its place the word ``will'';
0
e. In paragraph (b)(2)(i)(A), by removing the word ``shall'' and adding 
in its place the word ``will'';
0
f. In paragraph (b)(2)(i)(B) introductory text, by removing the word 
``shall'' and adding in its place the word ``will'';
0
g. In paragraph (b)(2)(i)(B)(1), by removing the word ``shall'' and 
adding in its place the word ``will'';
0
h. In paragraph (b)(2)(i)(B)(2), by removing the word ``shall'' and 
adding in its place the word ``will'';
0
i. In paragraph (b)(2)(i)(B)(3), by removing the word ``shall'' 
wherever it appears and adding in each place the word ``will'';
0
j. In paragraph (b)(2)(i)(B)(4), by removing the word ``shall'' and 
adding in its place the word ``will'';
0
k. In paragraph (b)(2)(i)(C), by removing the word ``shall'' and adding 
in its place the word ``will'';
0
l. In paragraph (b)(2)(ii), by removing the word ``shall'' wherever it 
appears and adding in each place the word ``will''; and
0
m. In paragraph (c)(1), by removing the words ``CBP Office of Finance, 
Indianapolis, Indiana'' and adding in their place the language ``CBP's 
Revenue Division, Office of Administration''.
    The revision reads as follows:


Sec.  24.3a  CBP bills; interest assessment on bills; delinquency; 
notice to principal and surety.

* * * * *

David V. Aguilar,
Acting Commissioner, U.S. Customs and Border Protection.
    Approved: March 21, 2012.
Timothy E. Skud,
Deputy Assistant Secretary of the Treasury.
[FR Doc. 2012-7229 Filed 3-23-12; 8:45 am]
BILLING CODE 9111-14-P