Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Appraisal Management Companies, 54789-54790 [2021-21556]

Download as PDF Federal Register / Vol. 86, No. 189 / Monday, October 4, 2021 / Notices types? If so, please describe and justify. (ii) The Application currently asks Applicants that apply as a partnership with a FIDI for an LLR Award to submit an attestation form that is signed by the FIDI that the FIDI has a mission to serve targeted Investment Areas. Should the CDFI Fund make revisions to the attestation form that the FIDI must sign? If yes, what are the revisions? Should the CDFI Fund request any other documentation that the FIDI must submit in order to demonstrate its primary mission to serve targeted Investment Areas? If so, please describe and justify. 12. In future funding rounds, new priorities may emerge, such as disaster response, an economic downturn, or new initiatives. How should the CDFI Fund address changing priorities on a round-by-round basis? What approaches would be preferred? Authority: Pub. L. 110–289, 12 CFR 1807. Jodie L. Harris, Director, Community Development Financial Institutions Fund. [FR Doc. 2021–21433 Filed 9–30–21; 8:45 am] BILLING CODE 4810–05–P DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Appraisal Management Companies Office of the Comptroller of the Currency (OCC), Treasury. ACTION: Notice and request for comment. AGENCY: The OCC, 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 a continuing information collection as required by the Paperwork Reduction Act of 1995 (PRA). In accordance with the requirements of the PRA, the OCC may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning the renewal of its information collection titled, ‘‘Appraisal Management Companies.’’ The OCC also is giving notice that it has sent the collection to OMB for review. DATES: You should submit written comments by November 3, 2021. SUMMARY: VerDate Sep<11>2014 22:52 Oct 01, 2021 Jkt 256001 Commenters are encouraged to submit comments by email, if possible. You may submit comments by any of the following methods: • Email: prainfo@occ.treas.gov. • Mail: Chief Counsel’s Office, Attention: Comment Processing, 1557– 0324, Office of the Comptroller of the Currency, 400 7th Street SW, Suite 3E– 218, Washington, DC 20219. • Hand Delivery/Courier: 400 7th Street SW, Suite 3E–218, Washington, DC 20219. • Fax: (571) 465–4326. Instructions: You must include ‘‘OCC’’ as the agency name and ‘‘1557– 0324’’ in your comment. In general, the OCC will publish comments on www.reginfo.gov without change, including any business or personal information provided, such as name and address information, email addresses, or phone numbers. Comments received, including attachments and other supporting materials, are part of the public record and subject to public disclosure. Do not include any information in your comment or supporting materials that you consider confidential or inappropriate for public disclosure. Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to www.reginfo.gov/public/do/ PRAMain. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. You may review comments and other related materials that pertain to this information collection following the close of the 30-day comment period for this notice by the method set forth in the next bullet. On July 29, 2021, the OCC published a 60-day notice for this information collection, 86 FR 40898. • Viewing Comments Electronically: Go to www.reginfo.gov. Hover over the ‘‘Information Collection Review’’ tab and click on the ‘‘Information Collection Review’’ dropdown. Underneath the ‘‘Currently under Review’’ section heading, from the drop-down menu select ‘‘Department of Treasury’’ and then click ‘‘submit.’’ This information collection can be located by searching by OMB control number ‘‘1557–0324’’ or ‘‘Appraisal Management Companies.’’ Upon finding the appropriate information collection, click on the related ‘‘ICR Reference Number.’’ On the next screen, select ‘‘View Supporting Statement and Other Documents’’ and then click on the link to any comment listed at the bottom of the screen. ADDRESSES: PO 00000 Frm 00117 Fmt 4703 Sfmt 4703 54789 • For assistance in navigating www.reginfo.gov, please contact the Regulatory Information Service Center at (202) 482–7340. FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance Officer, (202) 649–5490, Chief Counsel’s Office, Office of the Comptroller of the Currency, 400 7th Street SW, Suite 3E– 218, Washington, DC 20219. SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501–3520), Federal agencies must obtain approval from the OMB for each collection of information that they conduct or sponsor. ‘‘Collection of information’’ is defined in 44 U.S.C. 3502(3) and 5 CFR § 1320.3(c) to include agency requests or requirements that members of the public submit reports, keep records, or provide information to a third party. The OCC asks that OMB extend its approval of the information collection in this document. Title: Appraisal Management Companies. OMB Control No.: 1557–0324. Affected Public: Business or other forprofit. Type of Review: Regular review. Abstract: The OCC, Board of Governors of the Federal Reserve System (FRB), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), Consumer Financial Protection Bureau (Bureau), and Federal Housing Finance Agency (FHFA) (collectively, Agencies) have rules implementing the minimum requirements in section 1473 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) 1 to be applied by States in the registration and supervision of appraisal management companies (AMCs). The Agencies also have implemented the requirement in section 1473 of the Dodd-Frank Act for States to report to the Appraisal Subcommittee of the Federal Financial Institutions Examination Council (ASC) the information required by the ASC to administer the new national registry of appraisal management companies (AMC National Registry or Registry). State Recordkeeping Requirements States seeking to register AMCs must have an AMC registration and supervision program. Twelve CFR 34.213(a) requires each participating State to establish and maintain within its appraiser certifying and licensing agency a licensing program with the legal authority and mechanisms to: (i) Review and approve or deny an application for initial registration; (ii) 1 Public Law 111–203, sec. 1473, 124 Stat. 1376, 2190 (2010). E:\FR\FM\04OCN1.SGM 04OCN1 54790 Federal Register / Vol. 86, No. 189 / Monday, October 4, 2021 / Notices periodically review and renew or review and deny renewal of an AMC’s registration; (iii) examine the books and records of the AMC operating in the State and require the AMC to submit reports, information, and documents; (iv) verify that the appraisers on an AMC’s panel hold valid State certifications or licenses, as applicable; (v) investigate and assess potential violations of applicable appraisalrelated laws, regulations, or orders; (vi) discipline, suspend, terminate, or deny the registration renewal of an AMC that violates applicable appraisal-related laws, regulations, or orders; and (vii) report an AMC’s violation of appraisalrelated laws, regulations, or orders as well as disciplinary and enforcement actions and other relevant information about an AMC’s operation to the ASC. Twelve CFR 34.213(b) requires each participating State to impose requirements on AMCs that are not owned and controlled by an insured depository institution and not regulated by a Federal financial institutions regulatory agency to: (i) Register with and be subject to supervision by a State appraiser certifying and licensing agency in each State in which the AMC operates; (ii) engage only State-certified or State-licensed appraisers for Federally regulated transactions in conformity with any Federally related transaction regulations; (iii) establish and comply with processes and controls reasonably designed to ensure that the AMC, in engaging an appraiser, selects an appraiser who is independent of the transaction and who has the requisite education, expertise, and experience to competently complete the appraisal assignment for the particular market and property type; (iv) direct the appraiser to perform the assignment in accordance with Uniform Standards of Professional Appraisal Practices (USPAP); and (v) establish and comply with processes and controls reasonably designed to ensure that the AMC conducts its appraisal management services in accordance with section 129E(a)–(i) of the Truth in Lending Act, 15 U.S.C. 1639e(a) through (i) and the regulations thereunder. Burden: 1 respondent; 1 response per year; 40 hours per response; 40 total burden hours. State Reporting Burden Twelve CFR 34.216 requires that each State electing to register AMCs for purposes of permitting AMCs to provide appraisal management services relating to covered transactions in the State must submit to the ASC the information required to be submitted under subpart H to part 34 and any additional VerDate Sep<11>2014 22:52 Oct 01, 2021 Jkt 256001 information required by the ASC concerning AMCs that operate in the State. Burden: 1,158 respondents; 2 responses per year; 1 hour per response; 2,316 total burden hours. AMC Recordkeeping Requirements Twelve CFR 34.212(b) provides that an appraiser in an AMC’s network or panel is deemed to remain on the network or panel until: (i) The AMC sends a written notice to the appraiser removing the appraiser from the appraiser panel with an explanation of its action; or (ii) receives written notice from the appraiser asking to be removed from the appraiser panel or notice of the death or incapacity of the appraiser. Burden: 1,239 respondents; 1 response per year; 0.08 hours per response; 99 total burden hours. Total Estimated Annual Burden: 2,455 hours. The OCC issued a notice for 60 days of comment concerning this collection on July 29, 2021, 86 FR 40898. No comments were received. Comments continue to be solicited 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 information collection burden; (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 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. Theodore J. Dowd, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2021–21556 Filed 10–1–21; 8:45 am] BILLING CODE 4810–33–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request on Burden Related to U.S. Income Tax Return Forms for Individual Taxpayers Internal Revenue Service (IRS), Treasury. AGENCY: PO 00000 Frm 00118 Fmt 4703 Sfmt 4703 Notice and request for comments. ACTION: The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the 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 the burden associated with the U.S. Income Tax Return Forms for Individual Taxpayers. SUMMARY: Written comments should be received on or before December 3, 2021 to be assured of consideration. ADDRESSES: Direct all written comments to Andres Garcia, Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW, Washington, DC 20224. Requests for additional information or copies of the forms should be directed to R. Joseph Durbala, at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW, Washington DC 20224, or through the internet, at RJoseph.Durbala@irs.gov. SUPPLEMENTARY INFORMATION: Title: U.S. Income Tax Return for Individual Taxpayers. OMB Number: 1545–0074. Regulation Project Number: Form 1040 and affiliated return forms. Abstract: IRC sections 6011 & 6012 of the Internal Revenue Code require individuals to prepare and file income tax returns annually. These forms and related schedules are used by individuals to report their income subject to tax and compute their correct tax liability. This information collection request (ICR) covers the actual reporting burden associated with preparing and submitting the prescribed return forms, by individuals required to file Form 1040 and any of its’ affiliated forms as explained in the attached table. Current Actions: There have been changes in regulatory guidance related to various forms approved under this approval package during the past year. There have been additions and removals of forms included in this approval package. It is anticipated that these changes will have an impact on the overall burden and cost estimates requested for this approval package, however these estimates were not finalized at the time of release of this notice. These estimated figures are expected to be available by the release of the 30-comment notice from OMB. This approval package is being submitted for renewal purposes only. DATES: E:\FR\FM\04OCN1.SGM 04OCN1

Agencies

[Federal Register Volume 86, Number 189 (Monday, October 4, 2021)]
[Notices]
[Pages 54789-54790]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-21556]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Submission for OMB Review; Appraisal Management Companies

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.

ACTION: Notice and request for comment.

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

SUMMARY: The OCC, 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 a continuing 
information collection as required by the Paperwork Reduction Act of 
1995 (PRA). In accordance with the requirements of the PRA, the OCC may 
not conduct or sponsor, and the respondent is not required to respond 
to, an information collection unless it displays a currently valid 
Office of Management and Budget (OMB) control number. The OCC is 
soliciting comment concerning the renewal of its information collection 
titled, ``Appraisal Management Companies.'' The OCC also is giving 
notice that it has sent the collection to OMB for review.

DATES: You should submit written comments by November 3, 2021.

ADDRESSES: Commenters are encouraged to submit comments by email, if 
possible. You may submit comments by any of the following methods:
     Email: [email protected].
     Mail: Chief Counsel's Office, Attention: Comment 
Processing, 1557-0324, Office of the Comptroller of the Currency, 400 
7th Street SW, Suite 3E-218, Washington, DC 20219.
     Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218, 
Washington, DC 20219.
     Fax: (571) 465-4326.
    Instructions: You must include ``OCC'' as the agency name and 
``1557-0324'' in your comment. In general, the OCC will publish 
comments on www.reginfo.gov without change, including any business or 
personal information provided, such as name and address information, 
email addresses, or phone numbers. Comments received, including 
attachments and other supporting materials, are part of the public 
record and subject to public disclosure. Do not include any information 
in your comment or supporting materials that you consider confidential 
or inappropriate for public disclosure.
    Written comments and recommendations for the proposed information 
collection should be sent within 30 days of publication of this notice 
to www.reginfo.gov/public/do/PRAMain. Find this particular information 
collection by selecting ``Currently under 30-day Review--Open for 
Public Comments'' or by using the search function.
    You may review comments and other related materials that pertain to 
this information collection following the close of the 30-day comment 
period for this notice by the method set forth in the next bullet. On 
July 29, 2021, the OCC published a 60-day notice for this information 
collection, 86 FR 40898.
     Viewing Comments Electronically: Go to www.reginfo.gov. 
Hover over the ``Information Collection Review'' tab and click on the 
``Information Collection Review'' dropdown. Underneath the ``Currently 
under Review'' section heading, from the drop-down menu select 
``Department of Treasury'' and then click ``submit.'' This information 
collection can be located by searching by OMB control number ``1557-
0324'' or ``Appraisal Management Companies.'' Upon finding the 
appropriate information collection, click on the related ``ICR 
Reference Number.'' On the next screen, select ``View Supporting 
Statement and Other Documents'' and then click on the link to any 
comment listed at the bottom of the screen.
     For assistance in navigating www.reginfo.gov, please 
contact the Regulatory Information Service Center at (202) 482-7340.

FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance 
Officer, (202) 649-5490, Chief Counsel's Office, Office of the 
Comptroller of the Currency, 400 7th Street SW, Suite 3E-218, 
Washington, DC 20219.

SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), Federal 
agencies must obtain approval from the OMB for each collection of 
information that they conduct or sponsor. ``Collection of information'' 
is defined in 44 U.S.C. 3502(3) and 5 CFR Sec.  1320.3(c) to include 
agency requests or requirements that members of the public submit 
reports, keep records, or provide information to a third party. The OCC 
asks that OMB extend its approval of the information collection in this 
document.
    Title: Appraisal Management Companies.
    OMB Control No.: 1557-0324.
    Affected Public: Business or other for-profit.
    Type of Review: Regular review.
    Abstract: The OCC, Board of Governors of the Federal Reserve System 
(FRB), Federal Deposit Insurance Corporation (FDIC), National Credit 
Union Administration (NCUA), Consumer Financial Protection Bureau 
(Bureau), and Federal Housing Finance Agency (FHFA) (collectively, 
Agencies) have rules implementing the minimum requirements in section 
1473 of the Dodd-Frank Wall Street Reform and Consumer Protection Act 
(Dodd-Frank Act) \1\ to be applied by States in the registration and 
supervision of appraisal management companies (AMCs). The Agencies also 
have implemented the requirement in section 1473 of the Dodd-Frank Act 
for States to report to the Appraisal Subcommittee of the Federal 
Financial Institutions Examination Council (ASC) the information 
required by the ASC to administer the new national registry of 
appraisal management companies (AMC National Registry or Registry).
---------------------------------------------------------------------------

    \1\ Public Law 111-203, sec. 1473, 124 Stat. 1376, 2190 (2010).
---------------------------------------------------------------------------

State Recordkeeping Requirements

    States seeking to register AMCs must have an AMC registration and 
supervision program. Twelve CFR 34.213(a) requires each participating 
State to establish and maintain within its appraiser certifying and 
licensing agency a licensing program with the legal authority and 
mechanisms to: (i) Review and approve or deny an application for 
initial registration; (ii)

[[Page 54790]]

periodically review and renew or review and deny renewal of an AMC's 
registration; (iii) examine the books and records of the AMC operating 
in the State and require the AMC to submit reports, information, and 
documents; (iv) verify that the appraisers on an AMC's panel hold valid 
State certifications or licenses, as applicable; (v) investigate and 
assess potential violations of applicable appraisal-related laws, 
regulations, or orders; (vi) discipline, suspend, terminate, or deny 
the registration renewal of an AMC that violates applicable appraisal-
related laws, regulations, or orders; and (vii) report an AMC's 
violation of appraisal-related laws, regulations, or orders as well as 
disciplinary and enforcement actions and other relevant information 
about an AMC's operation to the ASC.
    Twelve CFR 34.213(b) requires each participating State to impose 
requirements on AMCs that are not owned and controlled by an insured 
depository institution and not regulated by a Federal financial 
institutions regulatory agency to: (i) Register with and be subject to 
supervision by a State appraiser certifying and licensing agency in 
each State in which the AMC operates; (ii) engage only State-certified 
or State-licensed appraisers for Federally regulated transactions in 
conformity with any Federally related transaction regulations; (iii) 
establish and comply with processes and controls reasonably designed to 
ensure that the AMC, in engaging an appraiser, selects an appraiser who 
is independent of the transaction and who has the requisite education, 
expertise, and experience to competently complete the appraisal 
assignment for the particular market and property type; (iv) direct the 
appraiser to perform the assignment in accordance with Uniform 
Standards of Professional Appraisal Practices (USPAP); and (v) 
establish and comply with processes and controls reasonably designed to 
ensure that the AMC conducts its appraisal management services in 
accordance with section 129E(a)-(i) of the Truth in Lending Act, 15 
U.S.C. 1639e(a) through (i) and the regulations thereunder.
    Burden: 1 respondent; 1 response per year; 40 hours per response; 
40 total burden hours.

State Reporting Burden

    Twelve CFR 34.216 requires that each State electing to register 
AMCs for purposes of permitting AMCs to provide appraisal management 
services relating to covered transactions in the State must submit to 
the ASC the information required to be submitted under subpart H to 
part 34 and any additional information required by the ASC concerning 
AMCs that operate in the State.
    Burden: 1,158 respondents; 2 responses per year; 1 hour per 
response; 2,316 total burden hours.

AMC Recordkeeping Requirements

    Twelve CFR 34.212(b) provides that an appraiser in an AMC's network 
or panel is deemed to remain on the network or panel until: (i) The AMC 
sends a written notice to the appraiser removing the appraiser from the 
appraiser panel with an explanation of its action; or (ii) receives 
written notice from the appraiser asking to be removed from the 
appraiser panel or notice of the death or incapacity of the appraiser.
    Burden: 1,239 respondents; 1 response per year; 0.08 hours per 
response; 99 total burden hours.
    Total Estimated Annual Burden: 2,455 hours.
    The OCC issued a notice for 60 days of comment concerning this 
collection on July 29, 2021, 86 FR 40898. No comments were received. 
Comments continue to be solicited 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 information 
collection burden;
    (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 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.

Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2021-21556 Filed 10-1-21; 8:45 am]
BILLING CODE 4810-33-P