Proposed Collection; Comment Request for Form 4972, 13787-13788 [2019-06629]

Download as PDF 13787 Federal Register / Vol. 84, No. 66 / Friday, April 5, 2019 / Notices institutions 2 are exposed to cyber risks because they are dependent on information technology to deliver services to consumers and businesses every day. Cyber attacks on financial institutions may result in unauthorized access to, and the compromise of, confidential information, as well as the destruction of critical data and systems. Disruption, degradation, or unauthorized alteration of information and systems can affect a financial institution’s operations and core processes and undermine confidence in the nation’s financial services sector. Absent immediate attention to these rapidly increasing threats, financial institutions and the financial sector as a whole are at risk. For this reason, the Agencies, under the auspices of the Federal Financial Institutions Examination Council (‘‘FFIEC’’), have worked diligently to assess and enhance the state of the financial industry’s cyber preparedness Assessment burden estimate OCC National Banks and Federal Savings Associations. FDIC State Non-Member Banks and State Savings Associations. Board State Member Banks and Bank Holding Companies. NCUA Federally-Insured Credit Unions. khammond on DSKBBV9HB2PROD with NOTICES Total .......................... and to improve the Agencies’ examination procedures and training to strengthen the oversight of financial industry cybersecurity readiness. The Agencies also have focused on providing financial institutions with resources that can assist in protecting them and their customers from the growing risks posed by cyber attacks. As part of these efforts, the Agencies developed the Assessment to assist financial institutions of all sizes in assessing their inherent cyber risks and their risk management capabilities. The Assessment allows a financial institution to identify its inherent cyber risk profile based on the technologies and connection types, delivery channels, online/mobile products and technology services that it offers to its customers, its organizational characteristics, and the cyber threats it is likely to face. Once a financial institution identifies its inherent cyber risk profile, it can use the Assessment’s maturity matrix to evaluate its level of cybersecurity preparedness based on the financial institution’s cyber risk management and oversight, threat intelligence capabilities, cybersecurity controls, external dependency management, and cyber incident management and resiliency planning. A financial institution may use the matrix’s maturity levels to identify opportunities for improving the financial institution’s cyber risk management based on its inherent risk profile. The Assessment also enables a financial institution to rapidly identify areas that could improve the financial institution’s cyber risk management and response programs, as appropriate. Use of the Assessment by financial institutions is voluntary. Type of Review: Regular. Affected Public: Businesses or other for-profit. Burden Estimates: 3 Estimated number of respondents $500 million –$10 billion @120 hours Estimated number of respondents $10 billion – $50 billion @160 hours Estimated number of respondents over $50 billion @180 hours 823 × 80 = 65,840 hours 157 × 120 = 18,840 hours. 123 × 160 = 19,680 hours. 82 × 180 = 14,760 hours 1,185 respondents 119,120 hours. 2,689 × 80 = 215,120 hours. 760 × 120 = 91,200 hours. 34 × 160 = 5,440 hours .. 6 × 180 = 1,080 hours .... 3,489 respondents 312,840 hours. 2,768 × 80 = 221,440 hours. 766 × 120 = 91,920 hours. 81 × 160 = 12,960 hours 26 × 180 = 4,680 hours .. 3,641 respondents 331,000 hours. 4,830 × 80 = 386,400 hours. 536 × 120 = 64,320 hours. 8 × 160 = 1,280 hours .... 1 × 180 = 180 hours ....... 5,375 respondents 452,180 hours. 11,110 × 80 = hours = 888,800. 2,219 × 120 hours = 266,280 hours. 246 hours × 160 = 39,360 hours. 115 hours × 180 = 20,700 hours. 13,690 respondents 1,215,140 hours. Estimated number of respondents less than $500 million @80 hours Comments submitted in response to this notice will be summarized and 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 Agencies, including whether the information has practical utility; (b) The accuracy of the Agencies’ estimates 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 on respondents, including through the use of automated collection 2 For purposes of this information collection, the term ‘‘financial institution’’ includes banks, savings associations, credit unions, and bank holding companies. VerDate Sep<11>2014 18:46 Apr 04, 2019 Jkt 247001 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: March 29, 2019. Theodore J. Dowd, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2019–06644 Filed 4–4–19; 8:45 am] BILLING CODE 4810–33–P 3 Burden is estimated conservatively and assumes all institutions will complete the Assessment. Therefore, the estimated burden may exceed the actual burden because use of the Assessment by financial institutions is not mandatory. The burden PO 00000 Frm 00163 Fmt 4703 Sfmt 4703 Estimated total respondents and total annual burden hours DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 4972 Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: The Internal Revenue Service, 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 information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning SUMMARY: estimates for financial institutions include technology service providers who may assist financial institutions in completing their Assessments. E:\FR\FM\05APN1.SGM 05APN1 13788 Federal Register / Vol. 84, No. 66 / Friday, April 5, 2019 / Notices Form 4972, Tax on Lump-Sum Distributions (From Qualified Plans of Participants Born Before January 2, 1936). Written comments should be received on or before June 4, 2019 to be assured of consideration. ADDRESSES: Direct all written comments to L. Brimmer, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the form and instructions should be directed to Sara Covington, (202) 317–6038, 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: Tax on Lump-Sum Distributions (From Qualified Plans of Participants Born Before January 2, 1936). OMB Number: 1545–0193. Form Number: Form 4972. Abstract: Internal Revenue Code section 402(e) and regulation section 402(e) and regulations section 1.402(e) allow recipients of lump-sum distributions from a qualified retirement plan to figure the tax separately on the distributions. The tax can be computed on the 10-year averaging method and/or by a special capital gain method. Form 4972 is used to compute the separate tax and to make a special 20 percent capital gain election on lump-sum distributions attributable to pre-1974 participation. Current Actions: There are no changes being made to the form at this time. Type of Review: Extension of a currently approved collection. Affected Public: Individuals or households. Estimated Number of Responses: 17,720. Estimated Time Per Respondent: 4 hrs. 24 min. Estimated Total Annual Burden Hours: 77,968. 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 khammond on DSKBBV9HB2PROD with NOTICES DATES: VerDate Sep<11>2014 18:46 Apr 04, 2019 Jkt 247001 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: April 1, 2019. Laurie Brimmer, Senior Tax Analyst. [FR Doc. 2019–06629 Filed 4–4–19; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Interest Rate Paid on Cash Deposited To Secure U.S. Immigration and Customs Enforcement Immigration Bonds Departmental Offices, Treasury. Notice. AGENCY: ACTION: For the period beginning April 1, 2019, and ending on June 30, 2019, the U.S. Immigration and Customs Enforcement Immigration Bond interest rate is 2.45 per centum per annum. DATES: Rates are applicable April 1, 2019 to June 30, 2019. ADDRESSES: Comments or inquiries may be mailed to Will Walcutt, Supervisor, Funds Management Branch, Funds Management Division, Fiscal Accounting, Bureau of the Fiscal Services, Parkersburg, West Virginia 26106–1328. You can download this notice at the following internet addresses: http:// www.treasury.gov or http:// www.federalregister.gov. FOR FURTHER INFORMATION CONTACT: Ryan Hanna, Manager, Funds Management Branch, Funds Management Division, Fiscal Accounting, Bureau of the Fiscal Service, Parkersburg, West Virginia 261006–1328 (304) 480–5120; Will Walcutt, Supervisor, Funds Management Branch, Funds Management Division, Fiscal Accounting, Bureau of the Fiscal SUMMARY: PO 00000 Frm 00164 Fmt 4703 Sfmt 4703 Services, Parkersburg, West Virginia 26106–1328, (304) 480–5117. SUPPLEMENTARY INFORMATION: Federal law requires that interest payments on cash deposited to secure immigration bonds shall be ‘‘at a rate determined by the Secretary of the Treasury, except that in no case shall the interest rate exceed 3 per centum per annum.’’ 8 U.S.C. 1363(a). Related Federal regulations state that ‘‘Interest on cash deposited to secure immigration bonds will be at the rate as determined by the Secretary of the Treasury, but in no case will exceed 3 per centum per annum or be less than zero.’’ 8 CFR 293.2. Treasury has determined that interest on the bonds will vary quarterly and will accrue during each calendar quarter at a rate equal to the lesser of the average of the bond equivalent rates on 91-day Treasury bills auctioned during the preceding calendar quarter, or 3 per centum per annum, but in no case less than zero. [FR Doc. 2015–18545] In addition to this Notice, Treasury posts the current quarterly rate in Table 2b— Interest Rates for Specific Legislation on the TreasuryDirect website. Gary Grippo, Deputy Assistant Secretary for Public Finance. [FR Doc. 2019–06742 Filed 4–4–19; 8:45 am] BILLING CODE 4810–25–P DEPARTMENT OF THE TREASURY United States Mint Request for Applications for Appointment to the Citizens Coinage Advisory Committee Pursuant to United States Code, Title 31, section 5135 (b), the United States Mint is accepting applications for appointment to the Citizens Coinage Advisory Committee (CCAC) to represent the interests of the general public in the coinage of the United States. The CCAC was established to: D Advise the Secretary of the Treasury on any theme or design proposals relating to circulating coinage, bullion coinage, Congressional Gold Medals, and national and other medals produced by the United States Mint. D Advise the Secretary of the Treasury with regard to the events, persons, or places that the CCAC recommends to be commemorated by the issuance of commemorative coins in each of the five calendar years succeeding the year in which a commemorative coin designation is made. D Make recommendations with respect to the mintage level for any commemorative coin recommended. E:\FR\FM\05APN1.SGM 05APN1

Agencies

[Federal Register Volume 84, Number 66 (Friday, April 5, 2019)]
[Notices]
[Pages 13787-13788]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-06629]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 4972

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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

SUMMARY: The Internal Revenue Service, 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 
information collections, as required by the Paperwork Reduction Act of 
1995. The IRS is soliciting comments concerning

[[Page 13788]]

Form 4972, Tax on Lump-Sum Distributions (From Qualified Plans of 
Participants Born Before January 2, 1936).

DATES: Written comments should be received on or before June 4, 2019 to 
be assured of consideration.

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

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form and instructions should be directed to Sara 
Covington, (202) 317-6038, at Internal Revenue Service, Room 6526, 1111 
Constitution Avenue NW, Washington, DC 20224, or through the internet 
at [email protected].

SUPPLEMENTARY INFORMATION:
    Title: Tax on Lump-Sum Distributions (From Qualified Plans of 
Participants Born Before January 2, 1936).
    OMB Number: 1545-0193.
    Form Number: Form 4972.
    Abstract: Internal Revenue Code section 402(e) and regulation 
section 402(e) and regulations section 1.402(e) allow recipients of 
lump-sum distributions from a qualified retirement plan to figure the 
tax separately on the distributions. The tax can be computed on the 10-
year averaging method and/or by a special capital gain method. Form 
4972 is used to compute the separate tax and to make a special 20 
percent capital gain election on lump-sum distributions attributable to 
pre-1974 participation.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Responses: 17,720.
    Estimated Time Per Respondent: 4 hrs. 24 min.
    Estimated Total Annual Burden Hours: 77,968.
    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: April 1, 2019.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2019-06629 Filed 4-4-19; 8:45 am]
BILLING CODE 4830-01-P