Proposed Collection; Comment Request for Form W-11, 9482-9483 [2017-02363]

Download as PDF 9482 Federal Register / Vol. 82, No. 23 / Monday, February 6, 2017 / Notices Federal savings association must provide the OCC with prior notice and obtain a written supervisory noobjection letter. In order to obtain a supervisory no-objection letter, a national bank or Federal savings association must have written policies, procedures, and risk measurement and management systems and controls in place to ensure that retail forex transactions are conducted in a safe and sound manner. The national bank or Federal savings association also must provide other information required by the OCC, such as documentation of customer due diligence, new product approvals, and haircuts applied to noncash margins. sradovich on DSK3GMQ082PROD with NOTICES Disclosure Requirements Under § 48.5, a national bank or Federal savings association must promptly provide the customer with a statement reflecting the financial result of the transactions and the name of the introducing broker to the account. The customer must provide specific written instructions on how the offsetting transaction should be applied. Section 48.6 requires that a national bank or Federal savings association furnish a retail forex customer with a written disclosure before opening an account through which the customer will engage in retail forex transactions. It further requires a national bank or Federal savings association to secure an acknowledgment from the customer that the disclosure was received and understood. Finally, § 48.6 requires the disclosure by a national bank or Federal savings association of its fees and other charges and its profitable accounts ratio. Section 48.10 requires a national bank or Federal savings association to issue monthly statements to each retail forex customer and to send confirmation statements following transactions. Section 48.13(c) prohibits a national bank or Federal savings association engaging in retail forex transactions from knowingly handling the account of any related person of another retail forex counterparty unless it receives proper written authorization, promptly prepares a written record of the order, and transmits to the counterparty copies all statements and written records. Section 48.13(d) prohibits a related person of a national bank or Federal savings association engaging in forex transactions from having an account with another retail forex counterparty unless it receives proper written authorization and copies of all statements and written records for such accounts are transmitted to the counterparty. VerDate Sep<11>2014 16:03 Feb 03, 2017 Jkt 241001 Section 48.15 requires a national bank or Federal savings association to provide a retail forex customer with 30 days prior notice of any assignment of any position or transfer of any account of the retail forex customer. It also requires a national bank or Federal savings association to which retail forex accounts or positions are assigned or transferred to provide the affected customers with risk disclosure statements and forms of acknowledgment and obtain the signed acknowledgments within 60 days. The customer dispute resolution provisions in § 48.16 require certain endorsements, acknowledgments, and signatures. The section also requires that a national bank or Federal savings association, within 10 days after receipt of notice from the retail forex customer that the customer intends to submit a claim to arbitration, provide the customer with a list of persons qualified in the dispute resolution. Policies and Procedures; Recordkeeping Sections 48.7 and 48.13 require that a national bank or Federal savings association engaging in retail forex transactions keep full, complete, and systematic records and to establish and implement internal rules, procedures, and controls. Section 48.7 also requires that a national bank or Federal savings association keep account, financial ledger, transaction, and daily records, as well as memorandum orders, postexecution allocation of bunched orders, records regarding its ratio of profitable accounts, possible violations of law, records for noncash margin, and monthly statements and confirmations. Section 48.9 requires policies and procedures for haircuts for noncash margin collected under the rule’s margin requirements and annual evaluations and modifications of the haircuts. The OCC issued a notice for 60 days of comment regarding this collection on October 20, 2016, 81 FR 72672. No comments were received. Comments continue to be invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the OCC, including whether the information has practical utility; (b) The accuracy of the OCC’s estimate of the burden of the information collection; (c) Ways to enhance the quality, utility, and clarity of the information to be collected; (d) Ways to minimize the burden of the collection on respondents, including through the use of automated collection PO 00000 Frm 00113 Fmt 4703 Sfmt 4703 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: January 26, 2017. Karen Solomon, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2017–02358 Filed 2–3–17; 8:45 am] BILLING CODE 4810–33–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form W–11 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 W–11, Hiring Incentives to Restore Employment (HIRE) Act Employee Affidavit. SUMMARY: Written comments should be received on or before April 7, 2017 to be assured of consideration. ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of notice should be directed to Sara Covington, at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet, at Sara.L.Covington@irs.gov. SUPPLEMENTARY INFORMATION: Title: Hiring Incentives to Restore Employment (HIRE) Act Employee Affidavit. OMB Number: 1545–2173. Notice Number: Form W–11. Abstract: This form was created in response to the Hiring Incentives to Restore Employment (HIRE) Act, which was signed on March 18, 2010. The form was developed as a template for the convenience of employers who must DATES: E:\FR\FM\06FEN1.SGM 06FEN1 Federal Register / Vol. 82, No. 23 / Monday, February 6, 2017 / Notices sradovich on DSK3GMQ082PROD with NOTICES collect affidavits from qualifying employees. The form is not filed, rather an employer must retain the affidavit in order to justify claiming certain HIRE Act benefits. Current Actions: Extension of currently approved collection. There are no changes being made to the notice at this time. Type of Review: Extension of currently approved collection. Affected Public: Businesses or other for-profit institutions. Estimated Number of Respondents: 100,000. Estimated Average Time per Respondent: 2 hrs., 16 mins. Estimated Total Annual Burden Hours: 227,000 hrs. The following paragraph applies to all of the collections of information covered by this notice: VerDate Sep<11>2014 16:03 Feb 03, 2017 Jkt 241001 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 PO 00000 Frm 00114 Fmt 4703 Sfmt 9990 9483 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: January 25, 2017. Maria Cheeks, IRS Supervisory Tax Law Specialist. [FR Doc. 2017–02363 Filed 2–3–17; 8:45 am] BILLING CODE 4830–01–P E:\FR\FM\06FEN1.SGM 06FEN1

Agencies

[Federal Register Volume 82, Number 23 (Monday, February 6, 2017)]
[Notices]
[Pages 9482-9483]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-02363]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form W-11

AGENCY: Internal Revenue Service (IRS), Treasury.

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)). Currently, the IRS is soliciting comments concerning 
Form W-11, Hiring Incentives to Restore Employment (HIRE) Act Employee 
Affidavit.

DATES: Written comments should be received on or before April 7, 2017 
to be assured of consideration.

ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of notice should be directed to Sara Covington, at Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, 
DC 20224, or through the internet, at Sara.L.Covington@irs.gov.

SUPPLEMENTARY INFORMATION: 
    Title: Hiring Incentives to Restore Employment (HIRE) Act Employee 
Affidavit.
    OMB Number: 1545-2173.
    Notice Number: Form W-11.
    Abstract: This form was created in response to the Hiring 
Incentives to Restore Employment (HIRE) Act, which was signed on March 
18, 2010. The form was developed as a template for the convenience of 
employers who must

[[Page 9483]]

collect affidavits from qualifying employees. The form is not filed, 
rather an employer must retain the affidavit in order to justify 
claiming certain HIRE Act benefits.
    Current Actions: Extension of currently approved collection. There 
are no changes being made to the notice at this time.
    Type of Review: Extension of currently approved collection.
    Affected Public: Businesses or other for-profit institutions.
    Estimated Number of Respondents: 100,000.
    Estimated Average Time per Respondent: 2 hrs., 16 mins.
    Estimated Total Annual Burden Hours: 227,000 hrs.
    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: January 25, 2017.
Maria Cheeks,
IRS Supervisory Tax Law Specialist.
[FR Doc. 2017-02363 Filed 2-3-17; 8:45 am]
BILLING CODE 4830-01-P

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