Agency Information Collection Activities; Submission for OMB Review; Comment Request; Imposition of Special Measure Against North Korea as a Jurisdiction of Primary Money Laundering Concern, 65899 [2019-25876]

Download as PDF khammond on DSKJM1Z7X2PROD with NOTICES Federal Register / Vol. 84, No. 230 / Friday, November 29, 2019 / Notices a return showing the aggregate amount of interest paid to a payee. Regulations sections 1.6049 4 and 1.6049 7 require Form 1099–INT to be used to report this information. IRC section 6041 and Regulations section 1.6041 1 require persons paying interest (that is not covered under section 6049) of $600 or more in the course of their trades or businesses to report that interest on Form 1099–INT. IRS uses Form 1099– INT to verify compliance with the reporting rules and to verify that the recipient has included the proper amount of interest on his or her income tax return. Current Actions: There is no change to the burden previously approved by OMB. This form is being submitted for renewal purposes only. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations, Federal Government, individuals or households, and not-for-profit institutions. Estimated Number of Responses: 141,555,000. Estimated Time per Respondent: 13 min. Estimated Total Annual Burden Hours: 46,403,150. The following paragraph applies to all 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 if 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. Desired Focus of Comments: The Internal Revenue Service (IRS) is particularly interested in comments that: • Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; • Evaluate the accuracy of the agency’s estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used; • Enhance the quality, utility, and clarity of the information to be collected; and • Minimize the burden of the collection of information on those who are to respond, including using VerDate Sep<11>2014 16:49 Nov 27, 2019 Jkt 250001 appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., by permitting electronic submissions of responses. Comments submitted in response to this notice will be summarized and/or included in the ICR for OMB approval of the extension of the information collection; they will also become a matter of public record. Approved: November 22, 2019. R. Joseph Durbala, IRS Tax Analyst. [FR Doc. 2019–25881 Filed 11–27–19; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Agency Information Collection Activities; Submission for OMB Review; Comment Request; Imposition of Special Measure Against North Korea as a Jurisdiction of Primary Money Laundering Concern Departmental Offices, U.S. Department of the Treasury. ACTION: Notice. AGENCY: The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests. DATES: Comments should be received on or before December 30, 2019 to be assured of consideration. ADDRESSES: Send comments regarding the burden estimate, or any other aspect of the information collection, including suggestions for reducing the burden, to (1) Office of Information and Regulatory Affairs, Office of Management and Budget, Attention: Desk Officer for Treasury, New Executive Office Building, Room 10235, Washington, DC 20503, or email at OIRA_Submission@ OMB.EOP.gov and (2) Treasury PRA Clearance Officer, 1750 Pennsylvania Ave. NW, Suite 8100, Washington, DC 20220, or email at PRA@treasury.gov. FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be obtained from Spencer W. Clark by emailing PRA@treasury.gov, calling (202) 927–5331, or viewing the entire information collection request at www.reginfo.gov. SUMMARY: SUPPLEMENTARY INFORMATION: PO 00000 Frm 00124 Fmt 4703 Sfmt 4703 65899 Financial Crimes Enforcement Network (FinCEN) Title: Imposition of Special Measure Against North Korea as a Jurisdiction of Primary Money Laundering Concern. OMB Control Number: 1506–0071. Type of Review: Extension without change of a currently approved collection. Description: The Director of FinCEN found that the Democratic People’s Republic of Korea (‘‘North Korea’’) is a jurisdiction of primary money laundering concern. FinCEN issued regulations that prohibit covered financial institutions from opening or maintaining a correspondent account in the United States for or on behalf of a North Korean banking institution and which prohibit the use of foreign banking institutions’ correspondent accounts at covered U.S. financial institutions to process transactions involving North Korean financial institutions. Form: None. Affected Public: Businesses or other for-profits. Estimated Number of Respondents: 23,615. Frequency of Response: On Occasion. Estimated Total Number of Annual Responses: 23,615. Estimated Time per Response: 1 hour. Estimated Total Annual Burden Hours: 23,615. Authority: 44 U.S.C. 3501 et seq. Dated: November 25, 2019. Spencer W. Clark, Treasury PRA Clearance Officer. [FR Doc. 2019–25876 Filed 11–27–19; 8:45 am] BILLING CODE 4810–02–P DEPARTMENT OF THE TREASURY Agency Information Collection Activities; Submission for OMB Review; Comment Request; Hizballah Financial Sanctions Regulations— Report on Closure by U.S. Financial Institutions of Correspondent Accounts and Payable-Through Accounts Departmental Offices, U.S. Department of the Treasury. ACTION: Notice. AGENCY: The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests. SUMMARY: E:\FR\FM\29NON1.SGM 29NON1

Agencies

[Federal Register Volume 84, Number 230 (Friday, November 29, 2019)]
[Notices]
[Page 65899]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-25876]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Imposition of Special Measure Against North 
Korea as a Jurisdiction of Primary Money Laundering Concern

AGENCY: Departmental Offices, U.S. Department of the Treasury.

ACTION: Notice.

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SUMMARY: The Department of the Treasury will submit the following 
information collection requests to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, on or after the date of publication of this 
notice. The public is invited to submit comments on these requests.

DATES: Comments should be received on or before December 30, 2019 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimate, or any other 
aspect of the information collection, including suggestions for 
reducing the burden, to (1) Office of Information and Regulatory 
Affairs, Office of Management and Budget, Attention: Desk Officer for 
Treasury, New Executive Office Building, Room 10235, Washington, DC 
20503, or email at [email protected] and (2) Treasury PRA 
Clearance Officer, 1750 Pennsylvania Ave. NW, Suite 8100, Washington, 
DC 20220, or email at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained from Spencer W. Clark by emailing [email protected], calling 
(202) 927-5331, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION:

Financial Crimes Enforcement Network (FinCEN)

    Title: Imposition of Special Measure Against North Korea as a 
Jurisdiction of Primary Money Laundering Concern.
    OMB Control Number: 1506-0071.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: The Director of FinCEN found that the Democratic 
People's Republic of Korea (``North Korea'') is a jurisdiction of 
primary money laundering concern. FinCEN issued regulations that 
prohibit covered financial institutions from opening or maintaining a 
correspondent account in the United States for or on behalf of a North 
Korean banking institution and which prohibit the use of foreign 
banking institutions' correspondent accounts at covered U.S. financial 
institutions to process transactions involving North Korean financial 
institutions.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 23,615.
    Frequency of Response: On Occasion.
    Estimated Total Number of Annual Responses: 23,615.
    Estimated Time per Response: 1 hour.
    Estimated Total Annual Burden Hours: 23,615.

    Authority: 44 U.S.C. 3501 et seq.

    Dated: November 25, 2019.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2019-25876 Filed 11-27-19; 8:45 am]
 BILLING CODE 4810-02-P