Ensuring Program Uniformity at the Hearing and Appeals Council Levels of the Administrative Review Process, 51412-51413 [2016-18367]

Download as PDF rmajette on DSK2TPTVN1PROD with PROPOSALS 51412 Federal Register / Vol. 81, No. 150 / Thursday, August 4, 2016 / Proposed Rules credit extended does not exceed the threshold amount. ii. Subsequent changes. If a creditor makes a closed-end extension of credit or commitment to extend closed-end credit that exceeds the threshold amount in effect at the time of consummation, the closed-end loan remains exempt under § 1026.3(b) regardless of a subsequent increase in the threshold amount. However, a closed-end loan is not exempt under § 1026.3(b) merely because it is used to satisfy and replace an existing exempt loan, unless the new extension of credit is itself exempt under the applicable threshold amount. For example, assume a closed-end loan that qualified for a § 1026.3(b) exemption at consummation in year one is refinanced in year ten and that the new loan amount is less than the threshold amount in effect in year ten. In these circumstances, the creditor must comply with all of the applicable requirements of this part with respect to the year ten transaction if the original loan is satisfied and replaced by the new loan, which is not exempt under § 1026.3(b). See also comment 3(b)–6. 6. Addition of a security interest in real property or a dwelling after account opening or consummation. i. Open-end credit. For open-end accounts, if after account opening a security interest is taken in real property, or in personal property used or expected to be used as the consumer’s principal dwelling, a previously exempt account ceases to be exempt under § 1026.3(b) and the creditor must begin to comply with all of the applicable requirements of this part within a reasonable period of time. See comment 3(b)–4.ii. If a security interest is taken in the consumer’s principal dwelling, the creditor must also give the consumer the right to rescind the security interest consistent with § 1026.15. ii. Closed-end credit. For closed-end loans, if after consummation a security interest is taken in real property, or in personal property used or expected to be used as the consumer’s principal dwelling, an exempt loan remains exempt under § 1026.3(b). However, the addition of a security interest in the consumer’s principal dwelling is a transaction for purposes of § 1026.23, and the creditor must give the consumer the right to rescind the security interest consistent with that section. See § 1026.23(a)(1) and its commentary. In contrast, if a closed-end loan that is exempt under § 1026.3(b) is satisfied and replaced by a loan that is secured by real property, or by personal property used or expected to be used as the consumer’s principal dwelling, the new loan is not exempt under § 1026.3(b), VerDate Sep<11>2014 14:52 Aug 03, 2016 Jkt 238001 and the creditor must comply with all of the applicable requirements of this part. See comment 3(b)–5. 7. Application to extensions secured by mobile homes. Because a mobile home can be a dwelling under § 1026.2(a)(19), the exemption in § 1026.3(b) does not apply to a credit extension secured by a mobile home that is used or expected to be used as the principal dwelling of the consumer. See comment 3(b)–6. 8. Transition rule for open-end accounts exempt prior to July 21, 2011. Section 1026.3(b)(2) applies only to open-end accounts opened prior to July 21, 2011. Section 1026.3(b)(2) does not apply if a security interest is taken by the creditor in real property, or in personal property used or expected to be used as the consumer’s principal dwelling. If, on July 20, 2011, an openend account is exempt under § 1026.3(b) based on a firm commitment to extend credit in excess of $25,000, the account remains exempt under § 1026.3(b)(2) until December 31, 2011 (unless the firm commitment is reduced to $25,000 or less). If the firm commitment is increased on or before December 31, 2011 to an amount in excess of $50,000, the account remains exempt under § 1026.3(b)(1) regardless of subsequent increases in the threshold amount as a result of increases in the CPI–W. If the firm commitment is not increased on or before December 31, 2011 to an amount in excess of $50,000, the account ceases to be exempt under § 1026.3(b) based on a firm commitment to extend credit. For example: i. Assume that, on July 20, 2011, the account is exempt under § 1026.3(b) based on the creditor’s firm commitment to extend $30,000 in credit. On November 1, 2011, the creditor increases the firm commitment on the account to $55,000. In these circumstances, the account remains exempt under § 1026.3(b)(1) regardless of subsequent increases in the threshold amount as a result of increases in the CPI–W. ii. Same facts as paragraph i above except, on November 1, 2011, the creditor increases the firm commitment on the account to $40,000. In these circumstances, the account ceases to be exempt under § 1026.3(b)(2) after December 31, 2011, and the creditor must begin to comply with the applicable requirements of this part. PO 00000 Frm 00032 Fmt 4702 Sfmt 4702 By order of the Board of Governors of the Federal Reserve System, July 19, 2016. Robert deV. Frierson, Secretary of the Board. Dated: July 13, 2016. Richard Cordray, Director, Bureau of Consumer Financial Protection. [FR Doc. 2016–18062 Filed 8–3–16; 8:45 am] BILLING CODE 6210–01–P; 4810–AM–P SOCIAL SECURITY ADMINISTRATION 20 CFR Part 404 [Docket No. SSA–2014–0052] RIN 0960–AH71 Ensuring Program Uniformity at the Hearing and Appeals Council Levels of the Administrative Review Process Social Security Administration. Notice of proposed rulemaking (NPRM); reopening of the comment period. AGENCY: ACTION: On July 12, 2016, we published in the Federal Register a notice of proposed rulemaking (NPRM) for Ensuring Program Uniformity at the Hearing and Appeals Council Levels of the Administrative Review Process. We provided a 30-day comment period ending on August 11, 2016. We are extending the comment period for 15 days. SUMMARY: The comment period for the NPRM published on July 12, 2016 (81 FR 45079), is extended by 15 days and thus will end on August 26, 2016. ADDRESSES: You may submit comments by any one of three methods—Internet, fax, or mail. Do not submit the same comments multiple times or by more than one method. Regardless of which method you choose, please state that your comments refer to Docket No. SSA–2014–0052 so that we may associate your comments with the correct rule. Caution: You should be careful to include in your comments only information that you wish to make publicly available. We strongly urge you not to include in your comments any personal information, such as Social Security numbers or medical information. 1. Internet: We strongly recommend that you submit your comments via the Internet. Please visit the Federal eRulemaking portal at http:// www.regulations.gov. Use the ‘‘Search’’ function to find docket number SSA– 2014–0052. The system will issue a tracking number to confirm your DATES: E:\FR\FM\04AUP1.SGM 04AUP1 Federal Register / Vol. 81, No. 150 / Thursday, August 4, 2016 / Proposed Rules submission. You will not be able to view your comment immediately because we must post each comment manually. It may take up to a week for your comment to be viewable. 2. Fax: Fax comments to (410) 966– 2830. 3. Mail: Mail your comments to the Office of Regulations and Reports Clearance, Social Security Administration, 3100 West High Rise Building, 6401 Security Boulevard, Baltimore, Maryland 21235–6401. Comments are available for public viewing on the Federal eRulemaking portal at http://www.regulations.gov or in person, during regular business hours, by arranging with the contact person identified below. FOR FURTHER INFORMATION CONTACT: Maren Weight, Office of Appellate Operations, Social Security Administration, 5107 Leesburg Pike, Falls Church, VA 22041, (703) 605– 7100. For information on eligibility or filing for benefits, call our national tollfree number, 1–800–772–1213 or TTY 1–800–325–0778, or visit our Internet site, Social Security Online, at http:// www.socialsecurity.gov. This document extends to August 26, 2016, the comment period for the NPRM that we published on July 12, 2016. We are extending the comment period in response to comments we received requesting additional time to review and comment on the proposed rules. If you have already provided comments on the proposed rules, we will consider your comments and you do not need to resubmit them. SUPPLEMENTARY INFORMATION: Carolyn W. Colvin, Acting Commissioner of Social Security. [FR Doc. 2016–18367 Filed 8–3–16; 8:45 am] BILLING CODE 4191–02–P This document contains corrections to a partial withdrawal of notice of proposed rulemaking; notice of proposed rulemaking (REG–123854–12) that was published in the Federal Register on Wednesday, June 22, 2016 (81 FR 40569). The proposed regulations are to clarify or modify certain specific provisions of the final regulations under section 409A (TD 9321, 72 FR 19234). DATES: Written or electronic comments and requests for a public hearing for the notice of proposed rulemaking published at 81 FR 40569, June 22, 2016 are still being accepted and must be received by September 20, 2016. FOR FURTHER INFORMATION CONTACT: Concerning the proposed regulations under sections 409A, Gregory Burns at (202) 927–9639, concerning submissions or comments and/or requests for a public hearing, Regina Johnson 202– 317–6901 (not toll-free numbers). SUPPLEMENTARY INFORMATION: SUMMARY: Background The partial withdrawal of notice of proposed rulemaking; notice of proposed rulemaking (REG–123854–12) that is the subject of this correction is under 409A of the Internal Revenue Code. As published, the partial withdrawal of notice of proposed rulemaking; notice of proposed rulemaking (REG–123854– 12) contains errors that may prove to be misleading and are in need of clarification. Correction of Publication Accordingly, the partial withdrawal of notice of proposed rulemaking; notice of proposed rulemaking (REG–123854–12) that was the subject of FR Doc. 2016– 14331 is corrected as follows: Internal Revenue Service 26 CFR Part 1 [REG–123854–12] rmajette on DSK2TPTVN1PROD with PROPOSALS RIN 1545–BL25 Application of Section 409A to Nonqualified Deferred Compensation Plans; Correction Internal Revenue Service (IRS), Treasury. ACTION: Correction to a partial withdrawal of notice of proposed rulemaking; notice of proposed rulemaking. AGENCY: VerDate Sep<11>2014 14:52 Aug 03, 2016 Jkt 238001 [Corrected] 1. On page 40582, first column, seventeenth line of paragraph (i)(5)(iv), the language ‘‘described in § 1.409A– (1)(b)(ii) held’’ is corrected to read ‘‘described in § 1.409A–1(b)(5)(ii) held’’. ■ 2. On page 40582, second column, in paragraph (i)(5)(iv) twenty-first line from the top of the page, the language ‘‘§ 1.409A–(1)(b)(5)(i)(A) or (B) or a statutory stock’’ is corrected to read ‘‘§ 1.409A–1(b)(5)(i)(A) or (B) or a statutory stock’’. ■ 3. On page 40582, second column, in paragraph (i)(5)(iv) twenty-third line from the top of the page, the language ‘‘§ 1.409A–(1)(b)(5)(ii) also will not cause the stock’’ is corrected to read ‘‘§ 1.409A–1(b)(5)(ii) also will not cause the stock’’. ■ DEPARTMENT OF THE TREASURY PO 00000 Frm 00033 Fmt 4702 [Corrected] 4. On page 40584, first column, in the third and fourth line of paragraph (a)(1)(ii)(B), the language ‘‘substantial risk of forfeiture—(1) Risk of forfeiture disregarded.’’ is corrected to read ‘‘substantial risk of forfeiture.’’. ■ 5. On page 40584, first and second column of paragraphs ‘‘(a)(1)(ii)(B)(i), (ii), and (iii)’’ are renumbered as ‘‘(a)(1)(ii)(B)(1), (2), and (3)’’ respectively. ■ Martin V. Franks, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel, (Procedure and Administration). [FR Doc. 2016–18355 Filed 8–3–16; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 25 [REG–163113–02] RIN 1545–BB71 Estate, Gift, and Generation-Skipping Transfer Taxes; Restrictions on Liquidation of an Interest Internal Revenue Service (IRS), Treasury. ACTION: Notice of proposed rulemaking and notice of public hearing. AGENCY: Need for Correction § 1.409A–3 § 1.409A–4 51413 Sfmt 4702 This document contains proposed regulations concerning the valuation of interests in corporations and partnerships for estate, gift, and generation-skipping transfer (GST) tax purposes. Specifically, these proposed regulations concern the treatment of certain lapsing rights and restrictions on liquidation in determining the value of the transferred interests. These proposed regulations affect certain transferors of interests in corporations and partnerships and are necessary to prevent the undervaluation of such transferred interests. DATES: Written and electronic comments must be received by November 2, 2016. Outlines of topics to be discussed at the public hearing scheduled for December 1, 2016, must be received by November 2, 2016. ADDRESSES: Send submissions to: CC:PA:LPD:PR (REG–163113–02), Room 5203, Internal Revenue Service, POB 7604, Ben Franklin Station, Washington, DC 20044. Submissions also may be hand delivered Monday through Friday between the hours of 8 a.m. and 5 p.m. to: CC:PA:LPD:PR (REG–163113–02), Courier’s Desk, Internal Revenue SUMMARY: E:\FR\FM\04AUP1.SGM 04AUP1

Agencies

[Federal Register Volume 81, Number 150 (Thursday, August 4, 2016)]
[Proposed Rules]
[Pages 51412-51413]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-18367]


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SOCIAL SECURITY ADMINISTRATION

20 CFR Part 404

[Docket No. SSA-2014-0052]
RIN 0960-AH71


Ensuring Program Uniformity at the Hearing and Appeals Council 
Levels of the Administrative Review Process

AGENCY: Social Security Administration.

ACTION: Notice of proposed rulemaking (NPRM); reopening of the comment 
period.

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

SUMMARY: On July 12, 2016, we published in the Federal Register a 
notice of proposed rulemaking (NPRM) for Ensuring Program Uniformity at 
the Hearing and Appeals Council Levels of the Administrative Review 
Process. We provided a 30-day comment period ending on August 11, 2016. 
We are extending the comment period for 15 days.

DATES: The comment period for the NPRM published on July 12, 2016 (81 
FR 45079), is extended by 15 days and thus will end on August 26, 2016.

ADDRESSES: You may submit comments by any one of three methods--
Internet, fax, or mail. Do not submit the same comments multiple times 
or by more than one method. Regardless of which method you choose, 
please state that your comments refer to Docket No. SSA-2014-0052 so 
that we may associate your comments with the correct rule.
    Caution: You should be careful to include in your comments only 
information that you wish to make publicly available. We strongly urge 
you not to include in your comments any personal information, such as 
Social Security numbers or medical information.
    1. Internet: We strongly recommend that you submit your comments 
via the Internet. Please visit the Federal eRulemaking portal at http://www.regulations.gov. Use the ``Search'' function to find docket number 
SSA-2014-0052. The system will issue a tracking number to confirm your

[[Page 51413]]

submission. You will not be able to view your comment immediately 
because we must post each comment manually. It may take up to a week 
for your comment to be viewable.
    2. Fax: Fax comments to (410) 966-2830.
    3. Mail: Mail your comments to the Office of Regulations and 
Reports Clearance, Social Security Administration, 3100 West High Rise 
Building, 6401 Security Boulevard, Baltimore, Maryland 21235-6401.
    Comments are available for public viewing on the Federal 
eRulemaking portal at http://www.regulations.gov or in person, during 
regular business hours, by arranging with the contact person identified 
below.

FOR FURTHER INFORMATION CONTACT: Maren Weight, Office of Appellate 
Operations, Social Security Administration, 5107 Leesburg Pike, Falls 
Church, VA 22041, (703) 605-7100. For information on eligibility or 
filing for benefits, call our national toll-free number, 1-800-772-1213 
or TTY 1-800-325-0778, or visit our Internet site, Social Security 
Online, at http://www.socialsecurity.gov.

SUPPLEMENTARY INFORMATION: This document extends to August 26, 2016, 
the comment period for the NPRM that we published on July 12, 2016. We 
are extending the comment period in response to comments we received 
requesting additional time to review and comment on the proposed rules. 
If you have already provided comments on the proposed rules, we will 
consider your comments and you do not need to resubmit them.

Carolyn W. Colvin,
Acting Commissioner of Social Security.
[FR Doc. 2016-18367 Filed 8-3-16; 8:45 am]
 BILLING CODE 4191-02-P