Proposed Collections; Comment Requests, 6735-6737 [2018-02954]

Download as PDF daltland on DSKBBV9HB2PROD with NOTICES Federal Register / Vol. 83, No. 31 / Wednesday, February 14, 2018 / Notices OMB Control Number: 1545–2099. Type of Review: Extension without change of a currently approved collection. Abstract: Form 8924, Excise Tax on Certain Transfers of Qualifying Geothermal or Mineral Interests, is required by Section 403 of the Tax Relief and Health Care Act of 2006 which imposes an excise tax on certain transfers of qualifying mineral or geothermal interests. Form: 8924. Affected Public: Businesses or other for-profits. Estimated Total Annual Burden Hours: 111. Title: Form 3921—Exercise of an Incentive Stock Option Under . . . ; Form 3922—Transfer of Stock Acquired Through an . . . ; TD 9470— Information Reporting Requirements Under Code Sec. 6039. OMB Control Number: 1545–2129. Type of Review: Extension without change of a currently approved collection. Abstract: Form 3921 is a copy of the information return filed with the IRS which transferred shares of stock to a recipient through exercise of an incentive stock option under section 422(b). Form 3922 is used to record a transfer of the legal title of a share of stock acquired by the employee where the stock was acquired pursuant to the exercise of an option described in section 423(c). Previously approved REG–103146–08 reflects the changes to section 6039 of the Internal Revenue Code made by section 403 of the Tax Relief and Health Care Act of 2006. Forms: 3921, 3922. Affected Public: Businesses or otherfor-profits. Estimated Total Annual Burden Hours: 25,205. Title: Transfers by Domestic Corporations That Are Subject to Section 367(a)(5); Distributions by Domestic Corporations That Are Subject to Section 1248(f). (TD 9614 & 9615). OMB Control Number: 1545–2183. Type of Review: Extension without change of a currently approved collection. Abstract: The previously approved income tax regulations under section 367(a) reflect changes by the Technical and Miscellaneous Corrections Act of 1988. Section 367(a)(5) provides that a transfer of assets to a foreign corporation in an exchange described in section 361 is subject to section 367(a)(1), unless certain ownership requirements and other conditions are met. TD 9760 contains final regulations under sections 367, 1248, and 6038B of the Internal VerDate Sep<11>2014 22:07 Feb 13, 2018 Jkt 244001 Revenue Code (Code). These regulations finalize the elimination of one of two exceptions to the coordination rule between asset transfers and indirect stock transfers for certain outbound asset reorganizations. The regulations also finalize modifications to the exception to the coordination rule for section 351 exchanges so that it is consistent with the remaining asset reorganization exception. In addition, the regulations finalize modifications to the procedures for obtaining relief for failures to satisfy certain reporting requirements. Finally, the regulations finalize certain changes with respect to transfers of stock or securities by a domestic corporation to a foreign corporation in a section 361 exchange. Form: None. Affected Public: Businesses or other for-profits. Estimated Total Annual Burden Hours: 3,260. Title: Information Reporting by Applicable Large Employers on Health Insurance Coverage Offered Under Employer-Sponsored Plans. OMB Control Number: 1545–2251. Type of Review: Revision of a currently approved collection. Abstract: This document contains previously approved regulations providing guidance to employers that are subject to the information reporting requirements under section 6056 of the Internal Revenue Code, enacted by the Patient Protection and Affordable Care Act (Pub. L. 111–148 (124 Stat.119 (2010)). Section 6056 requires those employers to report to the IRS information about their compliance with the employer shared responsibility provisions of section 4980H of the Code and about the health care coverage, if any, they have offered employees. Section 6056 also requires those employers to furnish related statements to employees in order that employees may use the statements to help determine whether, for each month of the calendar year, they can claim on their tax returns a premium tax credit under section 36B of the Code (premium tax credit). Forms: 1094–C, 1095–C, 4424. Affected Public: Businesses or other for-profits. Estimated Total Annual Burden Hours: 22,600,002. Title: Statement of Liability of Lender, Surety, or Other Person for Withholding Taxes. OMB Control Number: 1545–2254. Type of Review: Extension without change of a currently approved collection. Abstract: Third parties who directly pay another’s payrolls can be held liable PO 00000 Frm 00229 Fmt 4703 Sfmt 4703 6735 for the full amount of taxes required to be withheld but not paid to the Government (subject to the 25% limitation). IRC 3505 deals with persons who supply funds to an employer for the purpose of paying wages. The notification that a third party is paying or supplying wages will usually be made by filing of the Form 4219, Statement of Liability of Lender, Surety, or Other Person for Withholding Taxes. The Form 4219, Statement of Liability of Lender, Surety, or Other Person for Withholding Taxes, is to be submitted and associated with each employer and for every calendar quarter for which a liability under section 3505 is incurred. Form: 4291. Affected Public: Businesses or other for-profits, Farms, Not-for-profit institutions. Estimated Total Annual Burden Hours: 12,833. Title: Safe Harbor for Inadvertent Normalization Violations. OMB Control Number: 1545–2276. Type of Review: Extension without change of a currently approved collection. Abstract: Revenue Procedure 2017–47 provides a safe harbor that allows a utility taxpayer that inadvertently uses a practice or procedure that is inconsistent with the normalization rules (such as failure to use the proration methodology) to correct that practice or procedure at the next available opportunity and be considered not to have violated the normalization rules by their inadvertent error without requiring the taxpayer to obtain a private letter ruling from the Service regarding the inadvertent error. Form: None. Affected Public: Businesses or other for-profits. Estimated Total Annual Burden Hours: 1,800. Authority: 44 U.S.C. 3501 et seq. Dated: February 9, 2018. Jennifer P. Quintana, Treasury PRA Clearance Officer. [FR Doc. 2018–03052 Filed 2–13–18; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Proposed Collections; Comment Requests Departmental Offices; Department of the Treasury. SUMMARY: The Department of the Treasury, as part of its continuing effort to reduce paperwork burdens, invites the general public and other Federal agencies to comment on revisions of an AGENCY: E:\FR\FM\14FEN1.SGM 14FEN1 daltland on DSKBBV9HB2PROD with NOTICES 6736 Federal Register / Vol. 83, No. 31 / Wednesday, February 14, 2018 / Notices information collection that are proposed for approval by the Office of Management and Budget. The Office of International Affairs within the Department of the Treasury is soliciting comments concerning the revisions of the Treasury International Capital (TIC) Forms BC, BL–1, BL–2, BQ–1, BQ–2, and BQ–3 (called the ‘‘TIC B forms’’). DATES: Written comments should be received on or before April 16, 2018 to be assured of consideration. ADDRESSES: Direct all written comments to Dwight Wolkow, International Portfolio Investment Data Systems, Department of the Treasury, Room 5422, 1500 Pennsylvania Avenue NW, Washington, DC 20220. In view of possible delays in mail delivery, please also notify Mr. Wolkow by email (comments2TIC@treasury.gov), fax (202–622–2009) or telephone (202–622– 1276). FOR FURTHER INFORMATION CONTACT: Copies of the proposed forms and instructions are available on the Treasury’s TIC Forms web page, https:// www.treasury.gov/resource-center/datachart-center/tic/Pages/forms.aspx. Requests for additional information should be directed to Mr. Wolkow. SUPPLEMENTARY INFORMATION: & Treasury International Capital (TIC) Form BC ‘‘Monthly Report of U.S. Dollar Claims of Financial Institutions on Foreign Residents;’’ TIC BL–1 ‘‘Monthly Report of U.S. Dollar Liabilities of Financial Institutions to Foreign Residents;’’ TIC BL–2 ‘‘Monthly Report of Customers’ U.S. Dollar Liabilities to Foreign Residents;’’ TIC BQ–1 ‘‘Quarterly Report of Customers’ U.S. Dollar Claims on Foreign Residents;’’ TIC BQ–2 ‘‘Part 1: Quarterly Report of Foreign Currency Liabilities and Claims of Financial Institutions and of their Domestic Customers’ Foreign Currency Claims with Foreign Residents’’ and ‘‘Part 2: the Report of Customers’ Foreign Currency Liabilities to Foreign Residents;’’ and TIC BQ–3 ‘‘Quarterly Report of Maturities of Selected Liabilities and Claims of Financial Institutions with Foreign Residents.’’ OMB Numbers: 1505–0017 (TIC BC), 1505–0019 (TIC BL–1), 1505–0018 (TIC BL–2), 1505–0016 (TIC BQ–1), 1505– 0020 (TIC BQ–2), and 1505–0189 (TIC BQ–3). Abstract: Forms BC, BL–1, BL–2, BQ– 1, BQ–2, BQ–3 are part of the Treasury International Capital (TIC) reporting system, which is required by law (22 U.S.C. 286f; 22 U.S.C. 3103; E.O. 10033; 31 CFR 128) and are designed to collect timely information on international portfolio capital movements. These forms are filed by all U.S.-resident VerDate Sep<11>2014 22:07 Feb 13, 2018 Jkt 244001 financial institutions. On the monthly forms, these organizations report their own claims on (BC), their own liabilities to (BL–1), and their U.S. customers’ liabilities to (BL–2) foreign residents, denominated in U.S. dollars. On the quarterly forms, these organizations report their U.S.-resident customers’ U.S. dollar claims on foreign residents (BQ–1), and their own and their domestic customers’ claims and liabilities with foreign residents, where all claims and liabilities are denominated in foreign currencies (BQ– 2). On the quarterly BQ–3 form, these organizations report the remaining maturities of all their own U.S. dollar and foreign currency liabilities and claims (excluding securities) with foreign residents. This information is necessary for compiling the U.S. balance of payments accounts and the U.S. international investment position, and for use in formulating U.S. international financial and monetary policies. Current Actions: (a) No changes to the Forms are proposed. The following are all changes in the instructions. (b) Electronic filing of all TIC B reports (BC, BL–1, BL–2, BQ–1, BQ–2, and BQ–3) will be mandatory. More specifically in the instructions, Section I.F.1, ‘‘Submission of Reports’’, now indicates that the TIC B reports must be submitted electronically by using the Federal Reserve System’s ‘‘Reporting Central’’ electronic submission system. It is easy to use, secure, provides confirmation of the receipt of the data, and performs a number of validity checks of your file format. The TIC B reports can no longer be filed by mail or Fax and can no longer be reported on computer or other paper. In order to ensure access to Reporting Central is established prior to submission of TIC B reports as of June 30, 2018, respondents are strongly encouraged to contact the Federal Reserve Bank of New York at 212–720– 6300 as soon as possible for more information on how to establish a Reporting Central account. (c) The ‘‘Who Must Report’’ section of the instructions is updated to list out separately Trustees of Collateralized Loan Obligations (CLOs). (d) Sections IV.A and VII.A, ‘‘What to Report’’, have been updated to indicate that liabilities of U.S. residents to foreign residents from loan syndications or from loans and loan participations that are pooled into foreign Collateralized Loan Obligations (CLOs) should be reported by the U.S. Trustee of the foreign CLOs on the TIC BL–2 and TIC BQ–2 reports. (e) Sections IV.B and VII.B, ‘‘Column Definitions’’, have been updated to indicate that liabilities of U.S. residents PO 00000 Frm 00230 Fmt 4703 Sfmt 4703 to foreign residents from loan syndications or from loans and loan participations that are pooled into foreign Collateralized Loan Obligations (CLOs) should be reported by the U.S. Trustee of the foreign CLOs as ‘‘Other Custody Liabilities’’ on the BL–2 and BQ–2 reports. (f) The glossaries for all Treasury International Capital (‘‘TIC’’) reports are consolidated into a single document which will provide more consistency across the TIC system. As a result, the TIC B reporting instructions will not include a glossary but will point to the separate consolidated TIC Glossary document on the Treasury website. (g) A new glossary entry provides a definition for ‘‘U.S. CLO Trustee’’. In addition, the glossary entries for ‘‘Administrative Agent’’ and ‘‘Loan Servicing Arrangements, Loan Servicer’’ now include information on the reporting requirements of U.S. CLO Trustees. (h) A new flowchart in Section IX ‘‘Appendix’’ clarifies the reporting treatment for loans to U.S. residents when the loans are pooled into foreign CLOs. (i) These changes will be effective beginning with the TIC B reports as of June 30, 2018, and afterwards. Type of Review: Revision of a currently approved collection. Affected Public: Business or other forprofit organizations. Forms: BC, BL–1, BL–2, BQ–1, BQ–2, and BQ–3. Estimated Number of Respondents: BC, 385; BL–1, 378; BL–2, 103; BQ–1, 100; BQ–2, 199 and BQ–3, 154. Estimated average Time per Respondent per Filing: BC, 9.9 hours; BL–1, 7.1 hours; BL–2, 8.25 hours; BQ– 1, 3.1 hours; BQ–2, 6.6 hours; and BQ– 3, 4.0 hours. The average time varies, and is estimated to be generally twice as many hours for major data reporters as for other reporters. Estimated Total Annual Burden Hours: BC, 45,738 hours for 12 reports per year; BL–1, 32,206 hours for 12 reports per year; BL–2, 10,197 hours for 12 reports per year; BQ–1, 240 hours for 4 reports per year, BQ–2, 5,254 hours for 4 reports per year; and BQ–3, 2,464 hours for 4 reports per year. Request for Comments: Comments submitted in response to this notice will be summarized and/or included in the request for Office of Management and Budget approval. All comments will become a matter of public record. The public is invited to submit written comments concerning: (a) Whether Forms BC, BL–1, BL–2, BQ–1, BQ–2, and BQ–3 are necessary for the proper performance of the functions of the Office, including whether the information will have practical uses; (b) the accuracy of the above estimate of the E:\FR\FM\14FEN1.SGM 14FEN1 Federal Register / Vol. 83, No. 31 / Wednesday, February 14, 2018 / Notices burdens; (c) ways to enhance the quality, usefulness and clarity of the information to be collected; (d) ways to minimize the reporting and/or record keeping burdens on respondents, including the use of information technologies to automate the collection of the data; and (e) estimates of capital or start-up costs of operation, 6737 maintenance and purchase of services to provide information. Dwight Wolkow, Administrator, International Portfolio Investment Data Systems. [FR Doc. 2018–02954 Filed 2–13–18; 8:45 am] daltland on DSKBBV9HB2PROD with NOTICES BILLING CODE 4810–25–P VerDate Sep<11>2014 22:07 Feb 13, 2018 Jkt 244001 PO 00000 Frm 00231 Fmt 4703 Sfmt 9990 E:\FR\FM\14FEN1.SGM 14FEN1

Agencies

[Federal Register Volume 83, Number 31 (Wednesday, February 14, 2018)]
[Notices]
[Pages 6735-6737]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-02954]


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DEPARTMENT OF THE TREASURY


Proposed Collections; Comment Requests

AGENCY: Departmental Offices; Department of the Treasury.
SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork burdens, invites the general public and 
other Federal agencies to comment on revisions of an

[[Page 6736]]

information collection that are proposed for approval by the Office of 
Management and Budget. The Office of International Affairs within the 
Department of the Treasury is soliciting comments concerning the 
revisions of the Treasury International Capital (TIC) Forms BC, BL-1, 
BL-2, BQ-1, BQ-2, and BQ-3 (called the ``TIC B forms'').

DATES: Written comments should be received on or before April 16, 2018 
to be assured of consideration.

ADDRESSES: Direct all written comments to Dwight Wolkow, International 
Portfolio Investment Data Systems, Department of the Treasury, Room 
5422, 1500 Pennsylvania Avenue NW, Washington, DC 20220. In view of 
possible delays in mail delivery, please also notify Mr. Wolkow by 
email ([email protected]), fax (202-622-2009) or telephone 
(202-622-1276).

FOR FURTHER INFORMATION CONTACT: Copies of the proposed forms and 
instructions are available on the Treasury's TIC Forms web page, https://www.treasury.gov/resource-center/data-chart-center/tic/Pages/forms.aspx. Requests for additional information should be directed to 
Mr. Wolkow.

SUPPLEMENTARY INFORMATION: 
    & Treasury International Capital (TIC) Form BC ``Monthly Report of 
U.S. Dollar Claims of Financial Institutions on Foreign Residents;'' 
TIC BL-1 ``Monthly Report of U.S. Dollar Liabilities of Financial 
Institutions to Foreign Residents;'' TIC BL-2 ``Monthly Report of 
Customers' U.S. Dollar Liabilities to Foreign Residents;'' TIC BQ-1 
``Quarterly Report of Customers' U.S. Dollar Claims on Foreign 
Residents;'' TIC BQ-2 ``Part 1: Quarterly Report of Foreign Currency 
Liabilities and Claims of Financial Institutions and of their Domestic 
Customers' Foreign Currency Claims with Foreign Residents'' and ``Part 
2: the Report of Customers' Foreign Currency Liabilities to Foreign 
Residents;'' and TIC BQ-3 ``Quarterly Report of Maturities of Selected 
Liabilities and Claims of Financial Institutions with Foreign 
Residents.''
    OMB Numbers: 1505-0017 (TIC BC), 1505-0019 (TIC BL-1), 1505-0018 
(TIC BL-2), 1505-0016 (TIC BQ-1), 1505-0020 (TIC BQ-2), and 1505-0189 
(TIC BQ-3).
    Abstract: Forms BC, BL-1, BL-2, BQ-1, BQ-2, BQ-3 are part of the 
Treasury International Capital (TIC) reporting system, which is 
required by law (22 U.S.C. 286f; 22 U.S.C. 3103; E.O. 10033; 31 CFR 
128) and are designed to collect timely information on international 
portfolio capital movements. These forms are filed by all U.S.-resident 
financial institutions. On the monthly forms, these organizations 
report their own claims on (BC), their own liabilities to (BL-1), and 
their U.S. customers' liabilities to (BL-2) foreign residents, 
denominated in U.S. dollars. On the quarterly forms, these 
organizations report their U.S.-resident customers' U.S. dollar claims 
on foreign residents (BQ-1), and their own and their domestic 
customers' claims and liabilities with foreign residents, where all 
claims and liabilities are denominated in foreign currencies (BQ-2). On 
the quarterly BQ-3 form, these organizations report the remaining 
maturities of all their own U.S. dollar and foreign currency 
liabilities and claims (excluding securities) with foreign residents. 
This information is necessary for compiling the U.S. balance of 
payments accounts and the U.S. international investment position, and 
for use in formulating U.S. international financial and monetary 
policies.
    Current Actions: (a) No changes to the Forms are proposed. The 
following are all changes in the instructions. (b) Electronic filing of 
all TIC B reports (BC, BL-1, BL-2, BQ-1, BQ-2, and BQ-3) will be 
mandatory. More specifically in the instructions, Section I.F.1, 
``Submission of Reports'', now indicates that the TIC B reports must be 
submitted electronically by using the Federal Reserve System's 
``Reporting Central'' electronic submission system. It is easy to use, 
secure, provides confirmation of the receipt of the data, and performs 
a number of validity checks of your file format. The TIC B reports can 
no longer be filed by mail or Fax and can no longer be reported on 
computer or other paper. In order to ensure access to Reporting Central 
is established prior to submission of TIC B reports as of June 30, 
2018, respondents are strongly encouraged to contact the Federal 
Reserve Bank of New York at 212-720- 6300 as soon as possible for more 
information on how to establish a Reporting Central account. (c) The 
``Who Must Report'' section of the instructions is updated to list out 
separately Trustees of Collateralized Loan Obligations (CLOs). (d) 
Sections IV.A and VII.A, ``What to Report'', have been updated to 
indicate that liabilities of U.S. residents to foreign residents from 
loan syndications or from loans and loan participations that are pooled 
into foreign Collateralized Loan Obligations (CLOs) should be reported 
by the U.S. Trustee of the foreign CLOs on the TIC BL-2 and TIC BQ-2 
reports. (e) Sections IV.B and VII.B, ``Column Definitions'', have been 
updated to indicate that liabilities of U.S. residents to foreign 
residents from loan syndications or from loans and loan participations 
that are pooled into foreign Collateralized Loan Obligations (CLOs) 
should be reported by the U.S. Trustee of the foreign CLOs as ``Other 
Custody Liabilities'' on the BL-2 and BQ-2 reports. (f) The glossaries 
for all Treasury International Capital (``TIC'') reports are 
consolidated into a single document which will provide more consistency 
across the TIC system. As a result, the TIC B reporting instructions 
will not include a glossary but will point to the separate consolidated 
TIC Glossary document on the Treasury website. (g) A new glossary entry 
provides a definition for ``U.S. CLO Trustee''. In addition, the 
glossary entries for ``Administrative Agent'' and ``Loan Servicing 
Arrangements, Loan Servicer'' now include information on the reporting 
requirements of U.S. CLO Trustees. (h) A new flowchart in Section IX 
``Appendix'' clarifies the reporting treatment for loans to U.S. 
residents when the loans are pooled into foreign CLOs. (i) These 
changes will be effective beginning with the TIC B reports as of June 
30, 2018, and afterwards.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Forms: BC, BL-1, BL-2, BQ-1, BQ-2, and BQ-3.
    Estimated Number of Respondents: BC, 385; BL-1, 378; BL-2, 103; BQ-
1, 100; BQ-2, 199 and BQ-3, 154.
    Estimated average Time per Respondent per Filing: BC, 9.9 hours; 
BL-1, 7.1 hours; BL-2, 8.25 hours; BQ-1, 3.1 hours; BQ-2, 6.6 hours; 
and BQ-3, 4.0 hours. The average time varies, and is estimated to be 
generally twice as many hours for major data reporters as for other 
reporters.
    Estimated Total Annual Burden Hours: BC, 45,738 hours for 12 
reports per year; BL-1, 32,206 hours for 12 reports per year; BL-2, 
10,197 hours for 12 reports per year; BQ-1, 240 hours for 4 reports per 
year, BQ-2, 5,254 hours for 4 reports per year; and BQ-3, 2,464 hours 
for 4 reports per year.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in the request for Office of 
Management and Budget approval. All comments will become a matter of 
public record. The public is invited to submit written comments 
concerning: (a) Whether Forms BC, BL-1, BL-2, BQ-1, BQ-2, and BQ-3 are 
necessary for the proper performance of the functions of the Office, 
including whether the information will have practical uses; (b) the 
accuracy of the above estimate of the

[[Page 6737]]

burdens; (c) ways to enhance the quality, usefulness and clarity of the 
information to be collected; (d) ways to minimize the reporting and/or 
record keeping burdens on respondents, including the use of information 
technologies to automate the collection of the data; and (e) estimates 
of capital or start-up costs of operation, maintenance and purchase of 
services to provide information.

Dwight Wolkow,
Administrator, International Portfolio Investment Data Systems.
[FR Doc. 2018-02954 Filed 2-13-18; 8:45 am]
 BILLING CODE 4810-25-P
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