Agency Information Collection Activities; Comment Request of the Proposed Changes to the Report of Foreign Bank and Financial Accounts Report, 14415-14420 [2013-04936]

Download as PDF Federal Register / Vol. 78, No. 43 / Tuesday, March 5, 2013 / Notices addresses the effects, if any, of the abandonment on the environment and historic resources. OEA will issue an environmental assessment (EA) by March 8, 2013. Interested persons may obtain a copy of the EA by writing to OEA (Room 1100, Surface Transportation Board, Washington, DC 20423–0001) or by calling OEA, at (202) 245–0305. Assistance for the hearing impaired is available through the Federal Information Relay Service (FIRS) at 1–800–877–8339. Comments on environmental and historic preservation matters must be filed within 15 days after the EA becomes available to the public. Environmental, historic preservation, public use, or trail use/rail banking conditions will be imposed, where appropriate, in a subsequent decision. Pursuant to the provisions of 49 CFR 1152.29(e)(2), applicants shall jointly file a notice of consummation with the Board to signify that each has exercised the authority granted and fully abandoned its portion of the Line. If consummation has not been effected by applicants’ filing of a notice of consummation by March 5, 2014, and there are no legal or regulatory barriers to consummation, the authority to abandon will automatically expire. Board decisions and notices are available on our Web site at www.stb.dot.gov. contractor employees dedicated to Government Performance and Results Act goals is effective or if rebalancing is required. FOR FURTHER INFORMATION CONTACT: Jim Sullivan Office of the Deputy Assistant Secretary for Human Resources and Chief Human Capital Officer Department of the Treasury, 1500 Pennsylvania Avenue NW, Washington, DC 20220, at (202) 622–9395 or james.sullivan@treasury.gov. Decided: February 28, 2013. By the Board, Rachel D. Campbell, Director, Office of Proceedings. Derrick A. Gardner, Clearance Clerk. Financial Crimes Enforcement Network In accordance with Section 743 of Division C of the FY 2010 Consolidated Appropriations Act, Public Law (Pub. L.) 111–117, agencies required to submit an inventory in accordance with the Federal Activities Inventory Reform Act of 1998 (Pub. L. 105–270; 31 U.S.C. 501 note), other than the Department of the Defense, shall also prepare an annual service contract inventory. Treasury submitted its inventory for FY 2012 to the Office of Management and Budget (OMB) on December 18, 2012. SUPPLEMENTARY INFORMATION: Dated: February 11, 2013. Anita Blair, Deputy Assistant Secretary for Human Resources and Chief Human Capital Officer. [FR Doc. 2013–05065 Filed 3–4–13; 8:45 am] BILLING CODE 4810–25–P DEPARTMENT OF THE TREASURY Agency Information Collection Activities; Comment Request of the Proposed Changes to the Report of Foreign Bank and Financial Accounts Report [FR Doc. 2013–05043 Filed 3–4–13; 8:45 am] BILLING CODE 4915–01–P Financial Crimes Enforcement Network (‘‘FinCEN’’), Department of the Treasury. ACTION: Notice and request for comments. AGENCY: DEPARTMENT OF THE TREASURY Publication of Fiscal Year 2012 Service Contract Inventory Analysis Departmental Offices, Treasury. ACTION: Notice of publication of Fiscal Year 2012 Service Contract Inventory: Analysis of the FY 2012 Inventory and Planned Analysis of 2013. emcdonald on DSK67QTVN1PROD with NOTICES AGENCY: SUMMARY: The Department of the Treasury will make available to the public at http://www.treasury.gov/ about/organizational-structure/offices/ Pages/Office-of-the-ProcurementExecutive.aspx (see Key Topics) the Department’s Fiscal Year (FY) 2012 Service Contract Inventory analysis. The analysis discusses Treasury initiatives in court reporters and transcription services for 2012. In 2013, Treasury seeks to determine if its mix of Federal/ VerDate Mar<15>2010 18:34 Mar 04, 2013 Jkt 229001 SUMMARY: FinCEN, a bureau of the U.S. Department of the Treasury, invites all interested parties to comment on its proposed update to Form TD F 90–22.1, Report of Foreign Bank and Financial Accounts (‘‘FBAR’’). This request for comments is made pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. Chapter 35). DATES: Written comments should be received on or before May 6, 2013 to be assured of consideration. ADDRESSES: Direct all written comments to: Regulatory Policy and Programs Division, Financial Crimes Enforcement Network, U.S. Department of the Treasury, P.O. Box 39, Vienna, VA 22183, Attention: PRA Comments— PO 00000 Frm 00152 Fmt 4703 Sfmt 4703 14415 Update to the FBAR report. Comments also may be submitted by electronic mail to the following Internet address: ‘‘regcomments@fincen.gov’’ with the caption in the body of the text, ‘‘Attention: PRA Comments— Update to the FBAR report.’’ Inspection of Comments: Comments may be inspected, between 10 a.m. and 4 p.m., in the FinCEN reading room in Vienna, VA. Persons wishing to inspect the comments submitted must request an appointment with the Disclosure Officer by telephoning (703) 905–5034 (not a toll free call). FOR FURTHER INFORMATION CONTACT: Financial Crimes Enforcement Network, Regulatory Policy and Programs Division at (800) 949–2732. A copy of Form TD F 90–22.1 reflecting the proposed changes may be found at the end of this notice. Abstract: The statute generally referred to as the ‘‘Bank Secrecy Act’’ (‘‘BSA’’), Titles I and II of Public Law 91–508, as amended, codified at 12 U.S.C. 1829b, 12 U.S.C. 1951–1959, and 31 U.S.C. 5311–5314 and 5316–5332, authorizes the Secretary of the Treasury, inter alia, to require financial institutions to keep records and file reports that are determined to have a high degree of usefulness in criminal, tax, and regulatory matters, or in the conduct of intelligence or counter-intelligence activities to protect against international terrorism, and to implement countermoney laundering programs and compliance procedures.1 Regulations implementing Title II of the BSA appear at 31 CFR Chapter X. The authority of the Secretary to administer the BSA has been delegated to the Director of FinCEN. The information collected on Form TD F 90–22.1 (as well as other BSA reporting and recordkeeping requirements that are not the subject of this notice) assist Federal, state, and local law enforcement in the identification, investigation, and prosecution of individuals involved in money laundering, the financing of terrorism, tax evasion, narcotics trafficking, organized crime, fraud, embezzlement, and other crimes. The information also assists in tax SUPPLEMENTARY INFORMATION: 1 Language expanding the scope of the Bank Secrecy Act 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 Act of 2001 (the ‘‘USA PATRIOT Act’’), P.L. 107– 56. E:\FR\FM\05MRN1.SGM 05MRN1 14416 Federal Register / Vol. 78, No. 43 / Tuesday, March 5, 2013 / Notices check box to indicate if the preparer is self-employed (item 51); the preparer’s TIN and TIN Type (items 52 and 52a); and a contact telephone number and extension, if applicable, (items 53 and 53a). If the preparer is an employee of a firm, the firm’s name and employer identification number (‘‘EIN’’) are entered in items 54 and 55. Finally, the address (street number, city, state, ZIP/ Postal Code, and country) of the preparer (if self-employed) or the firm is entered in items 56 through 60.4 Title: Reports of foreign financial accounts (31 CFR 1010.350). OMB Control Number: 1506–0009 (The IRS’s OMB control number is 1545–2038). Current Action: There is no change to the existing regulations. Type of Review: Revision of a currently approved collection. Affected Public: Individuals, businesses or for-profit institutions, and non-profit institutions. Estimate Number of Affected Filing Individuals and Entities: 780,000.5 Estimated Recordkeeping and Reporting Burden: Based on past filings, 30 minutes for recordkeeping and 45 minutes for report completion for a total filing burden of 1 hour and fifteen minutes (1:15). Estimated Annual Recordkeeping and Reporting Burden Hours: 975,000.6 2 The information collection addressed in this notice is currently approved under Office of Management and Budget (‘‘OMB’’) Control Number 1506–0009. 3 The date in item 46 will be entered automatically if the FBAR is filed through the BSA E-Filing Discrete (single report) Option. If the FBAR is batch filed, the date must be manually entered in the batch filing specifications’ 2a Record. emcdonald on DSK67QTVN1PROD with NOTICES collection, examination, and other regulatory matters.2 Current Action: FinCEN is proposing to update the current TD F 90–22.1 report to standardize it with other BSA electronically filed reports and add the capability for a third party preparer to file the report should the owner of the foreign account wish to employ this option. To standardize the FBAR with other BSA reports, FinCEN proposes to add an item to record taxpayer identification number (‘‘TIN’’) Type to Part I, item 3a; Part I, item 4; Part III, item 25a; Part IV, item 35a; and V, item 35a. The addition of a check box to indicate that the amount is unknown is added to Parts II, III, IV, and V in item 15a. FinCEN also proposes to add a new item ‘‘Suffix’’ to Part I, item 8a; Part III, item 28a; and Part IV, item 37a. This update includes a revised signature section. It adds item 44a, a check box with the instruction ‘‘Check here [box for checking] if this report is completed by a 3rd party preparer and complete item 46 and the third party preparer section.’’ 3 A new section, ‘‘3rd Party Preparer Use Only,’’ is added to the report to support this method of filing. The 3rd Party Preparer section consists of the preparer’s last name, first name, and middle initial (items 47, 48, and 49); preparer’s signature (item 50); a 4 If a third party preparer completes and files the report, the report will be signed in item 50. If the report is completed and filed by the owner of the foreign account, the report will be signed in the signature section, item 44. 5 This figure reflects the actual number of FBAR filings in calendar year 2012. 6 780,000 reports × 1.25 hours per report = 975,000 hours. VerDate Mar<15>2010 15:14 Mar 04, 2013 Jkt 229001 PO 00000 Frm 00153 Fmt 4703 Sfmt 4703 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 under the BSA must be retained for five years. Generally, information collected pursuant to the BSA is confidential, but it 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 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: February 26, 2013. Jennifer Shasky Calvery, Director, Financial Crimes Enforcement Network. BILLING CODE 4810–02–P E:\FR\FM\05MRN1.SGM 05MRN1 VerDate Mar<15>2010 15:14 Mar 04, 2013 Jkt 229001 PO 00000 Frm 00154 Fmt 4703 Sfmt 4725 E:\FR\FM\05MRN1.SGM 05MRN1 14417 EN05MR13.008</GPH> emcdonald on DSK67QTVN1PROD with NOTICES Federal Register / Vol. 78, No. 43 / Tuesday, March 5, 2013 / Notices VerDate Mar<15>2010 Federal Register / Vol. 78, No. 43 / Tuesday, March 5, 2013 / Notices 15:14 Mar 04, 2013 Jkt 229001 PO 00000 Frm 00155 Fmt 4703 Sfmt 4725 E:\FR\FM\05MRN1.SGM 05MRN1 EN05MR13.009</GPH> emcdonald on DSK67QTVN1PROD with NOTICES 14418 VerDate Mar<15>2010 15:14 Mar 04, 2013 Jkt 229001 PO 00000 Frm 00156 Fmt 4703 Sfmt 4725 E:\FR\FM\05MRN1.SGM 05MRN1 14419 EN05MR13.010</GPH> emcdonald on DSK67QTVN1PROD with NOTICES Federal Register / Vol. 78, No. 43 / Tuesday, March 5, 2013 / Notices 14420 [FR Doc. 2013–04936 Filed 3–4–13; 8:45 am] BILLING CODE 4810–02–C DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Regulation Project Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. emcdonald on DSK67QTVN1PROD with NOTICES AGENCY: 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)). Currently, the IRS is VerDate Mar<15>2010 15:14 Mar 04, 2013 Jkt 229001 soliciting comments concerning Treatment of Acquisition of Certain Financial Institutions; Certain Tax Consequences of Federal Financial Assistance to Financial Institutions. DATES: Written comments should be received on or before May 6, 2013 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 Martha R. Brinson at (202) 622–3869, or Martha.R.Brinson@irs.gov, or Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224. SUPPLEMENTARY INFORMATION: Title: Treatment of Acquisition of Certain Financial Institutions; Certain Tax Consequences of Federal Financial Assistance to Financial Institutions. PO 00000 Frm 00157 Fmt 4703 Sfmt 4703 OMB Number: 1545–1300. Regulation Project Number: TD 8641. Abstract: Recipients of Federal financial assistance (FFA) must maintain an account of FFA that is deferred from inclusion in gross income and subsequently recaptured. This information is used to determine the recipient’s tax liability. Also, tax not subject to collection must be reported and information must be provided if certain elections are made. 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, and the Federal Government. Estimated Number of Respondents: 500. Estimated Time per Respondent: 4 hours, 24 minutes. Estimated Total Annual Burden Hours: 2,200. E:\FR\FM\05MRN1.SGM 05MRN1 EN05MR13.011</GPH> Federal Register / Vol. 78, No. 43 / Tuesday, March 5, 2013 / Notices

Agencies

[Federal Register Volume 78, Number 43 (Tuesday, March 5, 2013)]
[Notices]
[Pages 14415-14420]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-04936]


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DEPARTMENT OF THE TREASURY

Financial Crimes Enforcement Network


Agency Information Collection Activities; Comment Request of the 
Proposed Changes to the Report of Foreign Bank and Financial Accounts 
Report

AGENCY: Financial Crimes Enforcement Network (``FinCEN''), Department 
of the Treasury.

ACTION: Notice and request for comments.

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

SUMMARY: FinCEN, a bureau of the U.S. Department of the Treasury, 
invites all interested parties to comment on its proposed update to 
Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts 
(``FBAR''). This request for comments is made pursuant to the Paperwork 
Reduction Act of 1995 (44 U.S.C. Chapter 35).

DATES: Written comments should be received on or before May 6, 2013 to 
be assured of consideration.

ADDRESSES: Direct all written comments to: Regulatory Policy and 
Programs Division, Financial Crimes Enforcement Network, U.S. 
Department of the Treasury, P.O. Box 39, Vienna, VA 22183, Attention: 
PRA Comments--Update to the FBAR report. Comments also may be submitted 
by electronic mail to the following Internet address: 
``regcomments@fincen.gov'' with the caption in the body of the text, 
``Attention: PRA Comments-- Update to the FBAR report.''
    Inspection of Comments: Comments may be inspected, between 10 a.m. 
and 4 p.m., in the FinCEN reading room in Vienna, VA. Persons wishing 
to inspect the comments submitted must request an appointment with the 
Disclosure Officer by telephoning (703) 905-5034 (not a toll free 
call).

FOR FURTHER INFORMATION CONTACT: Financial Crimes Enforcement Network, 
Regulatory Policy and Programs Division at (800) 949-2732. A copy of 
Form TD F 90-22.1 reflecting the proposed changes may be found at the 
end of this notice.

SUPPLEMENTARY INFORMATION: Abstract: The statute generally referred to 
as the ``Bank Secrecy Act'' (``BSA''), Titles I and II of Public Law 
91-508, as amended, codified at 12 U.S.C. 1829b, 12 U.S.C. 1951-1959, 
and 31 U.S.C. 5311-5314 and 5316-5332, authorizes the Secretary of the 
Treasury, inter alia, to require financial institutions to keep records 
and file reports that are determined to have a high degree of 
usefulness in criminal, tax, and regulatory matters, or in the conduct 
of intelligence or counter-intelligence activities to protect against 
international terrorism, and to implement counter-money laundering 
programs and compliance procedures.\1\ Regulations implementing Title 
II of the BSA appear at 31 CFR Chapter X. The authority of the 
Secretary to administer the BSA has been delegated to the Director of 
FinCEN.
---------------------------------------------------------------------------

    \1\ Language expanding the scope of the Bank Secrecy Act 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 Act of 2001 (the ``USA PATRIOT 
Act''), P.L. 107-56.
---------------------------------------------------------------------------

    The information collected on Form TD F 90-22.1 (as well as other 
BSA reporting and recordkeeping requirements that are not the subject 
of this notice) assist Federal, state, and local law enforcement in the 
identification, investigation, and prosecution of individuals involved 
in money laundering, the financing of terrorism, tax evasion, narcotics 
trafficking, organized crime, fraud, embezzlement, and other crimes. 
The information also assists in tax

[[Page 14416]]

collection, examination, and other regulatory matters.\2\
---------------------------------------------------------------------------

    \2\ The information collection addressed in this notice is 
currently approved under Office of Management and Budget (``OMB'') 
Control Number 1506-0009.
---------------------------------------------------------------------------

    Current Action: FinCEN is proposing to update the current TD F 90-
22.1 report to standardize it with other BSA electronically filed 
reports and add the capability for a third party preparer to file the 
report should the owner of the foreign account wish to employ this 
option. To standardize the FBAR with other BSA reports, FinCEN proposes 
to add an item to record taxpayer identification number (``TIN'') Type 
to Part I, item 3a; Part I, item 4; Part III, item 25a; Part IV, item 
35a; and V, item 35a. The addition of a check box to indicate that the 
amount is unknown is added to Parts II, III, IV, and V in item 15a. 
FinCEN also proposes to add a new item ``Suffix'' to Part I, item 8a; 
Part III, item 28a; and Part IV, item 37a. This update includes a 
revised signature section. It adds item 44a, a check box with the 
instruction ``Check here [box for checking] if this report is completed 
by a 3rd party preparer and complete item 46 and the third party 
preparer section.'' \3\ A new section, ``3rd Party Preparer Use Only,'' 
is added to the report to support this method of filing. The 3rd Party 
Preparer section consists of the preparer's last name, first name, and 
middle initial (items 47, 48, and 49); preparer's signature (item 50); 
a check box to indicate if the preparer is self-employed (item 51); the 
preparer's TIN and TIN Type (items 52 and 52a); and a contact telephone 
number and extension, if applicable, (items 53 and 53a). If the 
preparer is an employee of a firm, the firm's name and employer 
identification number (``EIN'') are entered in items 54 and 55. 
Finally, the address (street number, city, state, ZIP/Postal Code, and 
country) of the preparer (if self-employed) or the firm is entered in 
items 56 through 60.\4\
---------------------------------------------------------------------------

    \3\ The date in item 46 will be entered automatically if the 
FBAR is filed through the BSA E-Filing Discrete (single report) 
Option. If the FBAR is batch filed, the date must be manually 
entered in the batch filing specifications' 2a Record.
    \4\ If a third party preparer completes and files the report, 
the report will be signed in item 50. If the report is completed and 
filed by the owner of the foreign account, the report will be signed 
in the signature section, item 44.
---------------------------------------------------------------------------

    Title: Reports of foreign financial accounts (31 CFR 1010.350).
    OMB Control Number: 1506-0009 (The IRS's OMB control number is 
1545-2038).
    Current Action: There is no change to the existing regulations.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Individuals, businesses or for-profit 
institutions, and non-profit institutions.
    Estimate Number of Affected Filing Individuals and Entities: 
780,000.\5\
---------------------------------------------------------------------------

    \5\ This figure reflects the actual number of FBAR filings in 
calendar year 2012.
---------------------------------------------------------------------------

    Estimated Recordkeeping and Reporting Burden: Based on past 
filings, 30 minutes for recordkeeping and 45 minutes for report 
completion for a total filing burden of 1 hour and fifteen minutes 
(1:15).
    Estimated Annual Recordkeeping and Reporting Burden Hours: 
975,000.\6\
---------------------------------------------------------------------------

    \6\ 780,000 reports x 1.25 hours per report = 975,000 hours.
---------------------------------------------------------------------------

    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 under the BSA must be retained for five years. Generally, 
information collected pursuant to the BSA is confidential, but it 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 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: February 26, 2013.
Jennifer Shasky Calvery,
Director, Financial Crimes Enforcement Network.
BILLING CODE 4810-02-P

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[FR Doc. 2013-04936 Filed 3-4-13; 8:45 am]
BILLING CODE 4810-02-C