Proposed Collection; Comment Request for Revenue Procedure 97-22, 53830-53831 [2019-21871]

Download as PDF 53830 Federal Register / Vol. 84, No. 195 / Tuesday, October 8, 2019 / Notices Limited.2 The rule further requires covered financial institutions to apply due diligence to their correspondent accounts that is reasonably designed to guard against their indirect use by Banco Delta Asia. See 31 CFR 1010.655. Information Collection Under the Fifth Special Measure The notification requirement in section 1010.655(b)(2)(i)(A) is intended to aid cooperation from correspondent account holders in denying Banco Delta Asia, including its subsidiaries Delta Asia Credit Limited and Delta Asia Insurance Limited, access to the U.S. financial system. The information required to be maintained by section 1010.655(b)(3)(i) will be used by federal agencies and certain self-regulatory organizations to verify compliance by covered financial institutions with the provisions of 31 CFR 1010.655. II. Paperwork Reduction Act (PRA) Title: Renewal of Information Collection Requirements in connection with the Imposition of a Special Measure concerning Banco Delta Asia, including its subsidiaries Delta Asia Credit Limited and Delta Asia Insurance Limited, as a financial institution of Primary Money Laundering Concern. Office of Management and Budget (OMB) Control Number: 1506–0045. Abstract: FinCEN is issuing this notice to renew the OMB control number for the imposition of a special measure concerning Banco Delta Asia, including its subsidiaries Delta Asia Credit Limited and Delta Asia Insurance Limited, as a financial institution of primary money laundering concern pursuant to the authority contained in 31 U.S.C. 5318A. See 31 CFR 1010.655. Type of Review: Renewal without change of a currently approved collection. Affected Public: Businesses and certain not-for-profit institutions. Frequency: One time notification. See 31 CFR 1010.655(b)(2)(i)(A) and 1010.655(b)(3)(i). Estimated Number of Respondents: 23,615.3 2 See 72 FR 12730, RIN 1506–AA83 above Estimated Number of Respondents is based on sum of the following numbers: • 5,358 banks [Federal Deposit Insurance Corporation, Key Statistics web page, April 25, 2019]; • 5,375 federally-insured credit unions [National Credit Union Administration, Quarterly Credit Union Data Summary, December 31, 2018]; • 125 privately-insured credit unions [General Accountability Office, PRIVATE DEPOSIT INUSRANCE: Credit Unions Largely Complied with Disclosure Rules, but Rules Should Be Clarified, March 2017]; • 1,130 introducing brokers [National Futures Association website, March 31, 2019]; jbell on DSK3GLQ082PROD with NOTICES 3 The VerDate Sep<11>2014 21:50 Oct 07, 2019 Jkt 250001 Estimated Time per Respondent: 1 hour. Estimated Total Annual Burden: 23,615 hours. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it 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 may be shared as provided by law with regulatory and law enforcement authorities. When the final rule was published in March 2007, the number of financial institutions affected by the rule was estimated at 5,000. FinCEN has since revised the estimated number of affected financial institutions upward to account for all domestic financial institutions that could potentially maintain correspondent accounts for foreign banks, and recognizing that, under the final rule, covered financial institutions are required to apply due diligence to their correspondent accounts that is reasonably designed to guard against their indirect use by Banco Delta Asia.. There are approximately 23,615 such financial institutions doing business in the United States. As noted, this revision should not have a significant impact on a substantial number of small entities. 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. • 64 futures commission merchants [National Futures Association website, March 31, 2019]; • 3,607 securities firms [Financial Industry Regulatory Authority website, December 31, 2018]; and, • 7,956 U.S. mutual funds [Investment Company Institute, 2018 Factbook, 2018]. PO 00000 Frm 00159 Fmt 4703 Sfmt 4703 Authority: Pub. L. 104–13, 44 U.S.C. 3506(c)(2)(A) Jamal El-Hindi, Deputy Director, Financial Crimes Enforcement Network. [FR Doc. 2019–21891 Filed 10–7–19; 8:45 am] BILLING CODE 4810–02–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Revenue Procedure 97–22 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 proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the IRS is soliciting comments concerning Revenue Procedure 97–22, Examination of returns and claims for refund, credits or abatement; determination of correct tax liability. DATES: Written comments should be received on or before December 9, 2019 to be assured of consideration. ADDRESSES: Direct all written comments to Dr. Philippe Thomas, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the revenue procedure should be directed to LaNita Van Dyke, at (202) 317–6009, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the internet at Lanita.VanDyke@irs.gov. SUPPLEMENTARY INFORMATION: Title: Examination of returns and claims for refund, credits or abatement; determination of correct tax liability. OMB Number: 1545–1533. Revenue Procedure Number: Revenue Procedure 97–22. Abstract: This revenue procedure provides guidance to taxpayers who maintain books and records by using an electronic storage system that either images their paper books and records or transfers their computerized books and records to an electronic storage media, such as an optical disk. The information requested in the revenue procedure is SUMMARY: E:\FR\FM\08OCN1.SGM 08OCN1 jbell on DSK3GLQ082PROD with NOTICES Federal Register / Vol. 84, No. 195 / Tuesday, October 8, 2019 / Notices required to ensure that records maintained in an electronic storage system will constitute records within the meaning of Internal Revenue Code section 6001. Current Actions: There are no changes being made to this revenue procedure at this time. Type of Review: Extension of a currently approved collection. Affected Public: Individuals or households, business or other for-profit organizations, not-for-profit institutions, farms, Federal Government, and state, local or tribal governments. Estimated Number of Respondents: 50,000. Estimated Time per Respondent: 20 hours, 1 minute. Estimated Total Annual Burden Hours: 1,000,400. 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: September 24, 2019. Philippe Thomas, Supervisor Tax Analyst. [FR Doc. 2019–21871 Filed 10–7–19; 8:45 am] BILLING CODE 4830–01–P VerDate Sep<11>2014 21:50 Oct 07, 2019 Jkt 250001 DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 5558 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 proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the IRS is soliciting comments concerning Form 5558, Application for Extension of Time To File Certain Employee Plan Returns. DATES: Written comments should be received on or before December 9, 2019 to be assured of consideration. ADDRESSES: Direct all written comments to Dr. Philippe Thomas, 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 LaNita Van Dyke, at (202) 317–6009, at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the internet at Lanita.vandyke@ irs.gov. SUPPLEMENTARY INFORMATION: Title: Application for Extension of Time To File Certain Employee Plan Returns. OMB Number: 1545–0212. Form Number: 5558. Abstract: This form is used by employers to request an extension of time to file the employee plan annual information return/report (Form 5500 series) or the employee plan excise tax return (Form 5330). The data supplied on Form 5558 is used to determine if such extension of time is warranted. 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: Business or other forprofit organizations, and not-for-profit institutions. Estimated Number of Respondents: 466,700. Estimated Time per Response: 24 minutes. Estimated Total Annual Burden Hours: 183,273. SUMMARY: PO 00000 Frm 00160 Fmt 4703 Sfmt 4703 53831 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: September 24, 2019. Philippe Thomas, Supervisor Tax Analyst. [FR Doc. 2019–21867 Filed 10–7–19; 8:45 am] BILLING CODE 4830–01–P 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. 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 proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the IRS is soliciting comments concerning TD 9137, SUMMARY: E:\FR\FM\08OCN1.SGM 08OCN1

Agencies

[Federal Register Volume 84, Number 195 (Tuesday, October 8, 2019)]
[Notices]
[Pages 53830-53831]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-21871]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Revenue Procedure 97-22

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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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 
proposed and/or continuing information collections, as required by the 
Paperwork Reduction Act of 1995. Currently, the IRS is soliciting 
comments concerning Revenue Procedure 97-22, Examination of returns and 
claims for refund, credits or abatement; determination of correct tax 
liability.

DATES: Written comments should be received on or before December 9, 
2019 to be assured of consideration.

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

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the revenue procedure should be directed to LaNita Van Dyke, 
at (202) 317-6009, Internal Revenue Service, Room 6526, 1111 
Constitution Avenue NW, Washington, DC 20224, or through the internet 
at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Examination of returns and claims for refund, credits or 
abatement; determination of correct tax liability.
    OMB Number: 1545-1533.
    Revenue Procedure Number: Revenue Procedure 97-22.
    Abstract: This revenue procedure provides guidance to taxpayers who 
maintain books and records by using an electronic storage system that 
either images their paper books and records or transfers their 
computerized books and records to an electronic storage media, such as 
an optical disk. The information requested in the revenue procedure is

[[Page 53831]]

required to ensure that records maintained in an electronic storage 
system will constitute records within the meaning of Internal Revenue 
Code section 6001.
    Current Actions: There are no changes being made to this revenue 
procedure at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households, business or other for-
profit organizations, not-for-profit institutions, farms, Federal 
Government, and state, local or tribal governments.
    Estimated Number of Respondents: 50,000.
    Estimated Time per Respondent: 20 hours, 1 minute.
    Estimated Total Annual Burden Hours: 1,000,400.
    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: September 24, 2019.
Philippe Thomas,
Supervisor Tax Analyst.
[FR Doc. 2019-21871 Filed 10-7-19; 8:45 am]
BILLING CODE 4830-01-P