Semiannual Agenda and Regulatory Plan, 5278-5283 [2021-27949]
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Federal Register / Vol. 87, No. 20 / Monday, January 31, 2022 / UA: Reg Flex Agenda
DEPARTMENT OF THE TREASURY
31 CFR Subtitles A and B
Semiannual Agenda and Regulatory
Plan
Department of the Treasury.
Semiannual Regulatory Agenda
and annual regulatory plan.
AGENCY:
ACTION:
This notice is given pursuant
to the requirements of the Regulatory
Flexibility Act and Executive Order
(E.O.) 12866 (‘‘Regulatory Planning and
Review’’), which require the publication
by the Department of a semiannual
agenda of regulations. E.O. 12866 also
requires the publication by the
Department of a regulatory plan for the
upcoming fiscal year. The purpose of
the agenda is to provide advance
information about pending regulatory
activities and encourage public
participation in the regulatory process.
FOR FURTHER INFORMATION CONTACT: The
Agency contact identified in the item
relating to that regulation.
SUPPLEMENTARY INFORMATION: The
semiannual regulatory agenda includes
regulations that the Department has
issued or expects to issue and rules
currently in effect that are under
departmental or bureau review. For this
edition of the regulatory agenda, the
most important significant regulatory
actions and a Statement of Regulatory
SUMMARY:
Priorities are included in the Regulatory
Plan, which appears in both the online
Unified Agenda and in part II of the
Federal Register publication that
includes the Unified Agenda.
The complete Unified Agenda will be
available online at www.reginfo.gov and
www.regulations.gov in a format that
offers users an enhanced ability to
obtain information from the Agenda
database. Because publication in the
Federal Register is mandated for the
regulatory flexibility agenda required by
the Regulatory Flexibility Act (5 U.S.C.
602), Treasury’s printed agenda entries
include only:
(1) Rules that are in the regulatory
flexibility agenda, in accordance with
the Regulatory Flexibility Act, because
they are likely to have a significant
economic impact on a substantial
number of small entities; and
(2) Rules that have been identified for
periodic review under section 610 of the
Regulatory Flexibility Act.
Printing of these entries is limited to
fields that contain information required
by the Regulatory Flexibility Act’s
Agenda requirements. Additional
information on these entries is available
in the Unified Agenda published on the
internet. In addition, for fall editions of
the Agenda, the entire Regulatory Plan
will continue to be printed in the
Federal Register, as in past years.
The Department has listed in this
agenda all regulations and regulatory
reviews pending at the time of
publication, except for technical, minor,
and routine actions. On occasion, a
regulatory matter may be inadvertently
left off of the agenda or an emergency
may arise that requires the Department
to initiate a regulatory action not yet on
the agenda. There is no legal
significance to the omission of an item
from this agenda. For most entries,
Treasury includes a projected date for
the next rulemaking action; however,
the date is an estimate and is not a
commitment to publish on the projected
date. In addition, some agenda entries
are marked as ‘‘withdrawn’’ when there
has been no publication activity.
Withdrawal of a rule from the agenda
does not necessarily mean that a rule
will not be included in a future agenda
but may mean that further consideration
is warranted and that the regulatory
action is unlikely in the next 12 months.
Public participation in the rulemaking
process is the foundation of effective
regulations. For this reason, the
Department invites comments on all
regulatory and deregulatory items
included in the agenda and invites
input on items that should be included
in the semiannual agenda.
Michael Briskin,
Deputy Assistant General Counsel for General
Law and Regulation.
FINANCIAL CRIMES ENFORCEMENT NETWORK—PROPOSED RULE STAGE
Regulation
Identifier No.
Sequence No.
Title
359 ....................
Clarification of the Requirement to Collect, Retain, and Transmit Information on Transactions Involving
Convertible Virtual Currencies and Digital Assets With Legal Tender Status.
Section 6403. Corporate Transparency Act ....................................................................................................
Section 6110. Bank Secrecy Act Application to Dealers in Antiquities and Assessment of Bank Secrecy
Act Application to Dealers in Arts.
Section 6212. Pilot Program on Sharing of Information Related to Suspicious Activity Reports Within a Financial Group.
Section 6101. Establishment of National Exam and Supervision Priorities ....................................................
360 ....................
361 ....................
362 ....................
363 ....................
1506–AB41
1506–AB49
1506–AB50
1506–AB51
1506–AB52
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FINANCIAL CRIMES ENFORCEMENT NETWORK—FINAL RULE STAGE
Regulation
Identifier No.
Sequence No.
Title
364 ....................
Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets .................
1506–AB47
FINANCIAL CRIMES ENFORCEMENT NETWORK—LONG-TERM ACTIONS
Regulation
Identifier No.
Sequence No.
Title
365 ....................
Amendments of the Definition of Broker or Dealer in Securities (Crowd Funding) ........................................
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FINANCIAL CRIMES ENFORCEMENT NETWORK—COMPLETED ACTIONS
Regulation
Identifier No.
Sequence No.
Title
366 ....................
Threshold for the Requirement to Collect, Retain, and Transmit Information on Funds Transfers and
Transmittals of Funds That Begin or End Outside the United States.
1506–AB48
CUSTOMS REVENUE FUNCTION—FINAL RULE STAGE
Regulation
Identifier No.
Sequence No.
Title
367 ....................
Enforcement of Copyrights and the Digital Millennium Copyright Act ............................................................
1515–AE26
INTERNAL REVENUE SERVICE—PROPOSED RULE STAGE
Regulation
Identifier No.
Sequence No.
Title
368 ....................
369 ....................
370 ....................
MEPs and the Unified Plan Rule .....................................................................................................................
Requirements Related to Surprise Billing, Part 2 ............................................................................................
Information Reporting of Health Insurance Coverage and Other Issues Under Sections 6055 and 6056 ....
1545–BO97
1545–BQ02
1545–BQ11
INTERNAL REVENUE SERVICE—FINAL RULE STAGE
Sequence No.
371
372
373
374
375
....................
....................
....................
....................
....................
Guidance on the Elimination of Interbank Offered Rates ................................................................................
Section 42 Low-Income Housing Credit Average Income Test Regulations ..................................................
Requirements Related to Surprise Billing, Part 1 ............................................................................................
Requirements Related to Surprise Billing, Part 1 (Temporary Regulation) ....................................................
Requirements Related to Surprise Billing, Part 2 (Temporary Regulation) ....................................................
DEPARTMENT OF THE TREASURY
(TREAS)
Financial Crimes Enforcement Network
(FINCEN)
Proposed Rule Stage
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359. Clarification of the Requirement
To Collect, Retain, and Transmit
Information on Transactions Involving
Convertible Virtual Currencies and
Digital Assets With Legal Tender Status
Legal Authority: 12 U.S.C. 1829b; 12
U.S.C. 1951 to 1959; 31 U.S.C. 5311 to
5314; 31 U.S.C. 5316 to 5336
Abstract: The Board of Governors of
the Federal Reserve System and FinCEN
(collectively, the ‘‘Agencies’’) intend to
issue a revised proposal to clarify the
meaning of ‘‘money’’ as used in the
rules implementing the Bank Secrecy
Act requiring financial institutions to
collect, retain, and transmit information
on certain funds transfers and
transmittals of funds. The Agencies
intend that the revised proposal will
ensure that the rules apply to domestic
and cross-border transactions involving
convertible virtual currency, which is a
medium of exchange (such as
cryptocurrency) that either has an
equivalent value as currency, or acts as
a substitute for currency, but lacks legal
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Regulation
Identifier No.
Title
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tender status. The Agencies further
intend that the revised proposal will
clarify that these rules apply to
domestic and cross-border transactions
involving digital assets that have legal
tender status.
Timetable:
Action
Date
NPRM ..................
NPRM Comment
Period End.
Second NPRM ....
Second NPRM
Comment Period End.
10/27/20
11/27/20
FR Cite
85 FR 68005
03/00/22
05/00/22
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: FinCEN Regulatory
Support Section, Department of the
Treasury, Financial Crimes Enforcement
Network, P.O. Box 39, Vienna, VA
22183, Phone: 800 767–2825, Email:
frc@fincen.gov.
RIN: 1506–AB41
360. Section 6403. Corporate
Transparency Act
Legal Authority: 12 U.S.C. 1829b; 12
U.S.C. 1951 to 1959; 31 U.S.C. 5311 to
5314; 31 U.S.C. 5316 to 5336
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1545–BO91
1545–BO92
1545–BQ01
1545–BQ04
1545–BQ05
Abstract: On April 5, 2021, FinCEN
issued an Advance Notice of Proposed
Rulemaking (ANPRM) entitled
‘‘Beneficial Ownership Information
Reporting Requirements,’’ relating to the
Corporate Transparency Act (Sections
6401–6403 of the Anti-Money
Laundering Act of 2020 (the AML Act)),
and intends to issue a Notice of
Proposed Rulemaking. Section 6403
amends the Bank Secrecy Act by adding
new Section 5336 to title 31 of the
United States Code. New Section 5336
requires FinCEN to issue rules
requiring: (i) Reporting companies to
submit certain information about the
individuals who are beneficial owners
of those entities and the individuals
who formed or registered those entities;
(ii) establishing a mechanism for issuing
FinCEN identifiers to entities and
individuals that request them; (iii)
requiring FinCEN to maintain the
information in a confidential, secure
non-public database; and (iv)
authorizing FinCEN to disclose the
information to certain government
agencies and financial institutions for
purposes specified in the legislation and
subject to protocols to protect the
confidentiality of the information.
Section 5336 requires that the first of
these requirements, notably the
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beneficial ownership information
reporting regulation for legal entities
(the ‘‘reporting regulation’’), be
published in final form by January 1,
2022. The ANPRM solicited comments
on a wide range of questions having to
do with the possible shape of the
reporting regulation, as well as
questions that concern the interaction of
the requirements of this regulation and
the shape and functionality of the
database that will be populated with the
information reported under Section
5336.
Timetable:
Action
Date
ANPRM ...............
ANPRM Comment
Period End.
NPRM ..................
NPRM Comment
Period End.
04/05/21
05/05/21
FR Cite
86 FR 17557
02/00/22
04/00/22
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: FinCEN Regulatory
Support Section, Department of the
Treasury, Financial Crimes Enforcement
Network, P.O. Box 39, Vienna, VA
22183, Phone: 800 767–2825, Email:
frc@fincen.gov.
RIN: 1506–AB49
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361. Section 6110. Bank Secrecy Act
Application to Dealers in Antiquities
and Assessment of Bank Secrecy Act
Application to Dealers in Arts
Date
ANPRM ...............
ANPRM Comment
Period End.
NPRM ..................
VerDate Sep<11>2014
09/24/21
10/25/21
FR Cite
86 FR 53021
06/00/22
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362. Section 6212. Pilot Program on
Sharing of Information Related to
Suspicious Activity Reports Within a
Financial Group
Legal Authority: 12 U.S.C. 1829b; 12
U.S.C. 1951 to 1959; 31 U.S.C. 5311 to
5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN intends to issue a
Notice of Proposed Rulemaking in order
to implement Section 6212 of the AntiMoney Laundering Act of 2020 (the
AML Act). This section amends the
Bank Secrecy Act (31 U.S.C. 5318(g)) to
establish a pilot program that permits
financial institutions to share suspicious
activity report (SAR) information with
their foreign branches, subsidiaries, and
affiliates for the purpose of combating
illicit finance risks. The section further
requires the Secretary of the Treasury to
issue rules to implement the
amendment within one year of
enactment of the AML Act.
Timetable:
Action
Legal Authority: 12 U.S.C. 1829b; 12
U.S.C. 1951 to 1959; 31 U.S.C. 5311 to
5314; 31 U.S.C. 5316 to 5336
Abstract: On September 24, 2021,
FinCEN issued an Advance Notice of
Proposed Rulemaking in order to
implement Section 6110 of the AntiMoney Laundering Act of 2020 (the
AML Act). This section amends the
Bank Secrecy Act (31 U.S.C. 5312(a)(2))
to include as a financial institution a
person engaged in the trade of
antiquities, including an advisor,
consultant, or any other person who
engages as a business in the solicitation
or the sale of antiquities, subject to
regulations prescribed by the Secretary
of the Treasury. The section further
requires the Secretary of the Treasury to
issue proposed rules to implement the
amendment within 360 days of
enactment of the AML Act.
Timetable:
Action
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: FinCEN Regulatory
Support Section, Department of the
Treasury, Financial Crimes Enforcement
Network, P.O. Box 39, Vienna, VA
22183, Phone: 800 767–2825, Email:
frc@fincen.gov.
RIN: 1506–AB50
Date
NPRM ..................
NPRM Comment
Period End.
FR Cite
03/00/22
05/00/22
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: FinCEN Regulatory
Support Section, Department of the
Treasury, Financial Crimes Enforcement
Network, P.O. Box 39, Vienna, VA
22183, Phone: 800 767–2825, Email:
frc@fincen.gov.
RIN: 1506–AB51
363. Section 6101. Establishment of
National Exam and Supervision
Priorities
Legal Authority: 12 U.S.C. 1829b; 12
U.S.C. 1951 to 1959; 31 U.S.C. 5311 to
5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN intends to issue a
Notice of Proposed Rulemaking to
implement Section 6101 of the AntiMoney Laundering Act of 2020 (the
AML Act). That section, among other
things, amends section 5318(h) to title
31 of the United States Code to: (1)
Require financial institutions to
establish countering the financing of
terrorism (CFT) in addition to AML
programs; (2) require FinCEN to
establish national AML/CFT priorities
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and, as appropriate, promulgate
implementing regulations within 180
days of the issuance of those priorities;
and (3) provide that the duty to
establish, maintain, and enforce a Bank
Secrecy Act AML/CFT program remains
the responsibility of, and must be
performed by, persons in the United
States who are accessible to, and subject
to oversight and supervision by, the
Secretary of the Treasury and the
appropriate Federal functional
regulator. Additionally, FinCEN intends
to propose other changes, including
regulatory amendments to establish that
all financial institutions subject to an
AML/CFT program requirement must
maintain an effective and reasonably
designed AML/CFT program, and that
such a program must include a risk
assessment process.
Timetable:
Action
NPRM ..................
NPRM Comment
Period End.
Date
FR Cite
04/00/22
06/00/22
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: FinCEN Regulatory
Support Section, Department of the
Treasury, Financial Crimes Enforcement
Network, P.O. Box 39, Vienna, VA
22183, Phone: 800 767–2825, Email:
frc@fincen.gov.
RIN: 1506–AB52
DEPARTMENT OF THE TREASURY
(TREAS)
Financial Crimes Enforcement Network
(FINCEN)
Final Rule Stage
364. Requirements for Certain
Transactions Involving Convertible
Virtual Currency or Digital Assets
Legal Authority: 12 U.S.C. 1829b; 12
U.S.C. 1951 to 1959; 31 U.S.C. 5311 to
5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN is proposing to
amend the regulations implementing the
Bank Secrecy Act (BSA) to require
banks and money service businesses
(MSBs) to submit reports, keep records,
and verify the identity of customers in
relation to transactions involving
convertible virtual currency (CVC) or
digital assets with legal tender status
(‘‘legal tender digital assets’’ or
‘‘LTDA’’) held in unhosted wallets, or
held in wallets hosted in a jurisdiction
identified by FinCEN.
Timetable:
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Action
Date
NPRM ..................
NPRM Comment
Period End.
Final Action .........
12/23/20
01/04/21
FR Cite
85 FR 83840
09/00/22
DEPARTMENT OF THE TREASURY
(TREAS)
Financial Crimes Enforcement Network
(FINCEN)
Long-Term Actions
365. Amendments of The Definition of
Broker or Dealer in Securities (Crowd
Funding)
Legal Authority: 12 U.S.C. 1829b; 12
U.S.C. 1951 to 1959; 31 U.S.C. 5311 to
5314; 31 U.S.C. 5316 to 5332
Abstract: FinCEN is finalizing
amendments to the regulatory
definitions of ‘‘broker or dealer in
securities’’ under the regulations
implementing the Bank Secrecy Act.
The changes are intended to expand the
current scope of the definitions to
include funding portals. In addition,
these amendments would require
funding portals to implement policies
and procedures reasonably designed to
achieve compliance with all of the Bank
Secrecy Act requirements that are
currently applicable to brokers or
dealers in securities. The rule to require
these organizations to comply with the
Bank Secrecy Act regulations is
intended to help prevent money
laundering, terrorist financing, and
other financial crimes.
Note: This is not a new requirement;
it replaces RINs 1506–AB24 and 1506–
AB29.
Timetable:
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Date
NPRM ..................
NPRM Comment
Period End.
Final Action .........
04/04/16
06/03/16
FR Cite
81 FR 19086
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366. Threshold for the Requirement To
Collect, Retain, and Transmit
Information on Funds Transfers and
Transmittals of Funds That Begin or
End Outside the United States
Legal Authority: 12 U.S.C. 1829b; 12
U.S.C. 1951 to 1959; 31 U.S.C. 5311 to
5314; 31 U.S.C. 5316 to 5336
Abstract: In October 2020, the Board
of Governors of the Federal Reserve
System and FinCEN (collectively, the
‘‘Agencies’’) issued a proposed rule to
modify the threshold in the rules
implementing the Bank Secrecy Act
requiring financial institutions to collect
and retain information on certain funds
transfers and transmittals of funds. The
modification would reduce this
threshold from $3,000 for certain funds
transfers and transmittals of funds. At
the same time, FinCEN likewise issued
a proposal to reduce from $3,000 the
threshold in the rule requiring financial
institutions to transmit to other
financial institutions in the payment
chain information on certain funds
transfers and transmittals of funds. The
public comment period for the proposed
rulemaking expired on November 27,
2020. The Agencies are working to
develop a rule in light of the comments
received from the public.
Completed:
Reason
Date
Withdrawn ...........
FR Cite
09/03/21
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: FinCEN Regulatory
Support Section, Phone: 800 767–2825,
Email: frc@fincen.gov.
RIN: 1506–AB48
BILLING CODE 4810–02–P
DEPARTMENT OF THE TREASURY
(TREAS)
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regulations pertaining to importations of
merchandise that violate or are
suspected of violating the copyright
laws in accordance with title III of the
Trade Facilitation and Trade
Enforcement Act of 2015 (TFTEA) and
certain provisions of the Digital
Millennium Copyright Act (DMCA).
Timetable:
Action
NPRM ..................
NPRM Comment
Period End.
Final Rule ............
Date
10/16/19
12/16/19
FR Cite
84 FR 55251
08/00/22
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: Alaina Van Horn,
Chief, Intellectual Property Enforcement
Branch, Department of the Treasury,
Customs Revenue Function, 1331
Pennsylvania Avenue NW, Washington,
DC 20229, Phone: 202 325–0083, Email:
alaina.vanhorn@cbp.dhs.gov.
RIN: 1515–AE26
BILLING CODE 9111–14–P
DEPARTMENT OF THE TREASURY
(TREAS)
Internal Revenue Service (IRS)
Proposed Rule Stage
368. MEPS and the Unified Plan Rule
Legal Authority: 26 U.S.C. 7805; 26
U.S.C. 413
Abstract: These proposed regulations
provide guidance relating to the tax
qualification of multiple employer plans
(MEPs) described in section 413(e) of
the Internal Revenue Code (Code). The
proposed regulations would provide an
exception, if certain requirements are
met, to the application of the ‘‘unified
plan rule’’ for section 413(e) MEPs in
the event of a failure by one or more
participating employers to take actions
required of them to satisfy the
requirements of section 401(a) or 408 of
the Code. The regulations affect
participants in MEPs, MEP sponsors and
administrators, and employers
maintaining MEPs.
Timetable:
Customs Revenue Function (CUSTOMS)
Action
Final Rule Stage
367. Enforcement of Copyrights and the
Digital Millennium Copyright Act
11/00/22
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: FinCEN Regulatory
Support Section, Phone: 800 767–2825,
Email: frc@fincen.gov.
RIN: 1506–AB36
VerDate Sep<11>2014
Financial Crimes Enforcement Network
(FINCEN)
Completed Actions
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: FinCEN Regulatory
Support Section, Department of the
Treasury, Financial Crimes Enforcement
Network, P.O. Box 39, Vienna, VA
22183, Phone: 800 767–2825, Email:
frc@fincen.gov.
RIN: 1506–AB47
Action
DEPARTMENT OF THE TREASURY
(TREAS)
Legal Authority: Title III of the Trade
Facilitation and Trade Enforcement Act
of 2015 (Pub. L. 114–125); 19 U.S.C.
1595a(c)(2)(G); 19 U.S.C. 1624
Abstract: This rule amends the U.S.
Customs and Border Protection (CBP)
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NPRM ..................
NPRM Comment
Period End.
Second NPRM ....
Date
07/03/19
10/01/19
FR Cite
84 FR 31777
04/00/22
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: Jamie Dvoretzky,
Attorney, Department of the Treasury,
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Internal Revenue Service, 1111
Constitution Avenue NW, Washington,
DC 20224, Phone: 202 317–4102, Fax:
855 604–6087, Email:jamie.l.dvoretzky@
irscounsel.treas.gov.
RIN: 1545–BO97
369. Requirements Related to Surprise
Billing, Part 2
Legal Authority: 26 U.S.C. 7805; Pub.
L. 116–260, Division BB, Title I and
Title II
Abstract: This notice of proposed
rulemaking would implement
additional protections against surprise
medical bills under the No Surprises
Act and certain provisions related to
Title II of Division BB of the
Consolidated Appropriations Act, by
cross-reference to temporary
regulations.
Timetable:
Action
Date
NPRM ..................
NPRM Comment
Period End.
Final Action .........
10/07/21
12/06/21
FR Cite
86 FR 55980
12/00/22
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: Kari L. DiCecco,
General Attorney (Tax), Department of
the Treasury, Internal Revenue Service,
1111 Constitution Avenue NW, Room
5712, Washington, DC 20224, Phone:
202 317–5500, Email:kari.l.dicecco@
irscounsel.treas.gov.
RIN: 1545–BQ02
370. • Information Reporting of Health
Insurance Coverage and Other Issues
Under Sections 6055 and 6056
Legal Authority: 26 U.S.C. 7805; 26
U.S.C. 5000A; 26 U.S.C. 6056
Abstract: These regulations revise
notice and filing requirements under
sections 6055 and 6056 of the Internal
Revenue Code. The regulations are
needed to provide health coverage
reporters an extension of time in which
to furnish certain statements and an
alternative manner of allowing certain
health coverage reporters to provide
information to covered individuals.
Timetable:
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Action
Date
NPRM ..................
FR Cite
11/00/21
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: Gerald Semasek,
Attorney, Department of the Treasury,
Internal Revenue Service, 1111
Constitution Avenue NW, Washington,
DC 20024, Phone: 202 317–7006, Fax:
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18:31 Jan 28, 2022
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855 576–2339, Email: gerald.semasek@
irscounsel.treas.gov.
RIN: 1545–BQ11
DEPARTMENT OF THE TREASURY
(TREAS)
Internal Revenue Service (IRS)
Final Rule Stage
371. Guidance on the Elimination of
Interbank Offered Rates
Legal Authority: 26 U.S.C. 1001b and
7805; 26 U.S.C. 7805
Abstract: The final regulations will
provide guidance on the tax
consequences of the phased elimination
of interbank offered rates (IBORs) that is
underway in the United States and
many foreign countries. Taxpayers have
requested guidance that addresses
whether a modification to a debt
instrument or other financial contract to
accommodate the elimination of the
relevant IBOR will be treated as a
realization event for federal income tax
purposes.
Timetable:
Action
Date
NPRM ..................
NPRM Comment
Period End.
Final Action .........
10/09/19
11/25/19
NPRM ..................
NPRM Comment
Period End.
Final Action .........
Legal Authority: 26 U.S.C. 7805; 26
U.S.C. 42
Abstract: The Consolidated
Appropriations Act of 2018 added a
new applicable minimum set-aside test
under section 42(g) of the Internal
Revenue Code known as the average
income test. This proposed regulation
will implement requirements related to
the average income test.
Timetable:
NPRM ..................
NPRM Comment
Period End.
PO 00000
Frm 00006
10/30/20
12/29/20
Fmt 4701
Sfmt 4702
FR Cite
85 FR 68816
02/03/21
FR Cite
86 FR 8271
03/24/21
07/00/22
373. Requirements Related to Surprise
Billing, Part 1
Legal Authority: 26 U.S.C. 7805; Pub.
L. 116–260, Division BB, Title I and
Title II
Abstract: This notice of proposed
rulemaking would implement the
protections against surprise medical
bills under the No Surprises Act, by
cross-reference to temporary
regulations.
Timetable:
84 FR 54068
372. Section 42 Low–Income Housing
Credit Average Income Test
Regulations
Date
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: Dillon J. Taylor,
Attorney, Department of the Treasury,
Internal Revenue Service, 1111
Constitution Avenue NW, Room 5107,
Washington, DC 20224, Phone: 202 317–
4137, Fax: 855 591–7867, Email:
dillon.j.taylor@irscounsel.treas.gov.
RIN: 1545–BO92
Action
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: Caitlin Holzem,
Attorney, Department of the Treasury,
Internal Revenue Service, 1111
Constitution Avenue NW, Room 3547,
Washington, DC 20224, Phone: 202 317–
7036, Fax: 855 574–9023, Email:
caitlin.i.holzem@irscounsel.treas.gov.
RIN: 1545–BO91
Date
NPRM; Correction
and Notice of
Public Hearing.
Public Hearing .....
Final Action .........
FR Cite
12/00/21
Action
Action
Date
07/13/21
09/13/21
FR Cite
86 FR 36870
12/00/21
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: Kari L. DiCecco,
General Attorney (Tax), Department of
the Treasury, Internal Revenue Service,
1111 Constitution Avenue NW, Room
5712, Washington, DC 20224, Phone:
202 317–5500, Email: kari.l.dicecco@
irscounsel.treas.gov.
RIN: 1545–BQ01
374. Requirements Related to Surprise
Billing, Part 1 (Temporary Regulation)
Legal Authority: 26 U.S.C. 7805; Pub.
L. 116–260, Division BB, Title I and
Title II
Abstract: This temporary regulation
implements the protections against
surprise medical bills under the No
Surprises Act.
Timetable:
Action
Temporary Regulation.
Temporary Regulation Effective.
Removal of Temporary Action.
Date
07/13/21
FR Cite
86 FR 36872
09/13/21
12/00/21
Regulatory Flexibility Analysis
Required: Yes.
E:\FR\FM\31JAP13.SGM
31JAP13
Federal Register / Vol. 87, No. 20 / Monday, January 31, 2022 / UA: Reg Flex Agenda
Agency Contact: Kari L. DiCecco,
General Attorney (Tax), Department of
the Treasury, Internal Revenue Service,
1111 Constitution Avenue NW, Room
5712, Washington, DC 20224, Phone:
202 317–5500, Email: kari.l.dicecco@
irscounsel.treas.gov.
RIN: 1545–BQ04
375. Requirements Related to Surprise
Billing, Part 2 (Temporary Regulation)
khammond on DSKJM1Z7X2PROD with PROPOSALS12
Legal Authority: 26 U.S.C. 7805; Pub.
L. 116–260, Division BB, Title I and
Title II
Abstract: This temporary regulation
would implement additional protections
VerDate Sep<11>2014
18:31 Jan 28, 2022
Jkt 256001
against surprise medical bills under the
No Surprises Act and certain provisions
related to Title II of Division BB of the
Consolidated Appropriations Act.
Timetable:
Action
Date
Temporary Rule ..
Temporary Rule
Effective.
Temporary Rule
Comment Period End.
10/07/21
10/07/21
Frm 00007
86 FR 55980
12/06/21
Reviewing Comments.
PO 00000
FR Cite
Fmt 4701
5283
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: Kari L. DiCecco,
General Attorney (Tax), Department of
the Treasury, Internal Revenue Service,
1111 Constitution Avenue NW, Room
5712, Washington, DC 20224, Phone:
202 317–5500, Email: kari.l.dicecco@
irscounsel.treas.gov.
RIN: 1545–BQ05
[FR Doc. 2021–27949 Filed 1–28–22; 8:45 am]
BILLING CODE 4810–01–P
To Be Determined
Sfmt 9990
E:\FR\FM\31JAP13.SGM
31JAP13
]]>Agencies
[Federal Register Volume 87, Number 20 (Monday, January 31, 2022)]
[Unknown Section]
[Pages 5278-5283]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-27949]
[[Page 5277]]
Vol. 87
Monday,
No. 20
January 31, 2022
Part XIII
Department of the Treasury
-----------------------------------------------------------------------
Semiannual Regulatory Agenda
Federal Register / Vol. 87 , No. 20 / Monday, January 31, 2022 / UA:
Reg Flex Agenda
[[Page 5278]]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
31 CFR Subtitles A and B
Semiannual Agenda and Regulatory Plan
AGENCY: Department of the Treasury.
ACTION: Semiannual Regulatory Agenda and annual regulatory plan.
-----------------------------------------------------------------------
SUMMARY: This notice is given pursuant to the requirements of the
Regulatory Flexibility Act and Executive Order (E.O.) 12866
(``Regulatory Planning and Review''), which require the publication by
the Department of a semiannual agenda of regulations. E.O. 12866 also
requires the publication by the Department of a regulatory plan for the
upcoming fiscal year. The purpose of the agenda is to provide advance
information about pending regulatory activities and encourage public
participation in the regulatory process.
FOR FURTHER INFORMATION CONTACT: The Agency contact identified in the
item relating to that regulation.
SUPPLEMENTARY INFORMATION: The semiannual regulatory agenda includes
regulations that the Department has issued or expects to issue and
rules currently in effect that are under departmental or bureau review.
For this edition of the regulatory agenda, the most important
significant regulatory actions and a Statement of Regulatory Priorities
are included in the Regulatory Plan, which appears in both the online
Unified Agenda and in part II of the Federal Register publication that
includes the Unified Agenda.
The complete Unified Agenda will be available online at
www.reginfo.gov and www.regulations.gov in a format that offers users
an enhanced ability to obtain information from the Agenda database.
Because publication in the Federal Register is mandated for the
regulatory flexibility agenda required by the Regulatory Flexibility
Act (5 U.S.C. 602), Treasury's printed agenda entries include only:
(1) Rules that are in the regulatory flexibility agenda, in
accordance with the Regulatory Flexibility Act, because they are likely
to have a significant economic impact on a substantial number of small
entities; and
(2) Rules that have been identified for periodic review under
section 610 of the Regulatory Flexibility Act.
Printing of these entries is limited to fields that contain
information required by the Regulatory Flexibility Act's Agenda
requirements. Additional information on these entries is available in
the Unified Agenda published on the internet. In addition, for fall
editions of the Agenda, the entire Regulatory Plan will continue to be
printed in the Federal Register, as in past years.
The Department has listed in this agenda all regulations and
regulatory reviews pending at the time of publication, except for
technical, minor, and routine actions. On occasion, a regulatory matter
may be inadvertently left off of the agenda or an emergency may arise
that requires the Department to initiate a regulatory action not yet on
the agenda. There is no legal significance to the omission of an item
from this agenda. For most entries, Treasury includes a projected date
for the next rulemaking action; however, the date is an estimate and is
not a commitment to publish on the projected date. In addition, some
agenda entries are marked as ``withdrawn'' when there has been no
publication activity. Withdrawal of a rule from the agenda does not
necessarily mean that a rule will not be included in a future agenda
but may mean that further consideration is warranted and that the
regulatory action is unlikely in the next 12 months.
Public participation in the rulemaking process is the foundation of
effective regulations. For this reason, the Department invites comments
on all regulatory and deregulatory items included in the agenda and
invites input on items that should be included in the semiannual
agenda.
Michael Briskin,
Deputy Assistant General Counsel for General Law and Regulation.
Financial Crimes Enforcement Network--Proposed Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
359....................... Clarification of the 1506-AB41
Requirement to Collect,
Retain, and Transmit
Information on
Transactions Involving
Convertible Virtual
Currencies and Digital
Assets With Legal Tender
Status.
360....................... Section 6403. Corporate 1506-AB49
Transparency Act.
361....................... Section 6110. Bank Secrecy 1506-AB50
Act Application to
Dealers in Antiquities
and Assessment of Bank
Secrecy Act Application
to Dealers in Arts.
362....................... Section 6212. Pilot 1506-AB51
Program on Sharing of
Information Related to
Suspicious Activity
Reports Within a
Financial Group.
363....................... Section 6101. 1506-AB52
Establishment of National
Exam and Supervision
Priorities.
------------------------------------------------------------------------
Financial Crimes Enforcement Network--Final Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
364....................... Requirements for Certain 1506-AB47
Transactions Involving
Convertible Virtual
Currency or Digital
Assets.
------------------------------------------------------------------------
Financial Crimes Enforcement Network--Long-Term Actions
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
365....................... Amendments of the 1506-AB36
Definition of Broker or
Dealer in Securities
(Crowd Funding).
------------------------------------------------------------------------
[[Page 5279]]
Financial Crimes Enforcement Network--Completed Actions
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
366....................... Threshold for the 1506-AB48
Requirement to Collect,
Retain, and Transmit
Information on Funds
Transfers and
Transmittals of Funds
That Begin or End Outside
the United States.
------------------------------------------------------------------------
Customs Revenue Function--Final Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
367....................... Enforcement of Copyrights 1515-AE26
and the Digital
Millennium Copyright Act.
------------------------------------------------------------------------
Internal Revenue Service--Proposed Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
368....................... MEPs and the Unified Plan 1545-BO97
Rule.
369....................... Requirements Related to 1545-BQ02
Surprise Billing, Part 2.
370....................... Information Reporting of 1545-BQ11
Health Insurance Coverage
and Other Issues Under
Sections 6055 and 6056.
------------------------------------------------------------------------
Internal Revenue Service--Final Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
371....................... Guidance on the 1545-BO91
Elimination of Interbank
Offered Rates.
372....................... Section 42 Low-Income 1545-BO92
Housing Credit Average
Income Test Regulations.
373....................... Requirements Related to 1545-BQ01
Surprise Billing, Part 1.
374....................... Requirements Related to 1545-BQ04
Surprise Billing, Part 1
(Temporary Regulation).
375....................... Requirements Related to 1545-BQ05
Surprise Billing, Part 2
(Temporary Regulation).
------------------------------------------------------------------------
DEPARTMENT OF THE TREASURY (TREAS)
Financial Crimes Enforcement Network (FINCEN)
Proposed Rule Stage
359. Clarification of the Requirement To Collect, Retain, and Transmit
Information on Transactions Involving Convertible Virtual Currencies
and Digital Assets With Legal Tender Status
Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1959; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: The Board of Governors of the Federal Reserve System and
FinCEN (collectively, the ``Agencies'') intend to issue a revised
proposal to clarify the meaning of ``money'' as used in the rules
implementing the Bank Secrecy Act requiring financial institutions to
collect, retain, and transmit information on certain funds transfers
and transmittals of funds. The Agencies intend that the revised
proposal will ensure that the rules apply to domestic and cross-border
transactions involving convertible virtual currency, which is a medium
of exchange (such as cryptocurrency) that either has an equivalent
value as currency, or acts as a substitute for currency, but lacks
legal tender status. The Agencies further intend that the revised
proposal will clarify that these rules apply to domestic and cross-
border transactions involving digital assets that have legal tender
status.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 10/27/20 85 FR 68005
NPRM Comment Period End............. 11/27/20
Second NPRM......................... 03/00/22
Second NPRM Comment Period End...... 05/00/22
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Department of
the Treasury, Financial Crimes Enforcement Network, P.O. Box 39,
Vienna, VA 22183, Phone: 800 767-2825, Email: [email protected].
RIN: 1506-AB41
360. Section 6403. Corporate Transparency Act
Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1959; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: On April 5, 2021, FinCEN issued an Advance Notice of
Proposed Rulemaking (ANPRM) entitled ``Beneficial Ownership Information
Reporting Requirements,'' relating to the Corporate Transparency Act
(Sections 6401-6403 of the Anti-Money Laundering Act of 2020 (the AML
Act)), and intends to issue a Notice of Proposed Rulemaking. Section
6403 amends the Bank Secrecy Act by adding new Section 5336 to title 31
of the United States Code. New Section 5336 requires FinCEN to issue
rules requiring: (i) Reporting companies to submit certain information
about the individuals who are beneficial owners of those entities and
the individuals who formed or registered those entities; (ii)
establishing a mechanism for issuing FinCEN identifiers to entities and
individuals that request them; (iii) requiring FinCEN to maintain the
information in a confidential, secure non-public database; and (iv)
authorizing FinCEN to disclose the information to certain government
agencies and financial institutions for purposes specified in the
legislation and subject to protocols to protect the confidentiality of
the information. Section 5336 requires that the first of these
requirements, notably the
[[Page 5280]]
beneficial ownership information reporting regulation for legal
entities (the ``reporting regulation''), be published in final form by
January 1, 2022. The ANPRM solicited comments on a wide range of
questions having to do with the possible shape of the reporting
regulation, as well as questions that concern the interaction of the
requirements of this regulation and the shape and functionality of the
database that will be populated with the information reported under
Section 5336.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
ANPRM............................... 04/05/21 86 FR 17557
ANPRM Comment Period End............ 05/05/21
NPRM................................ 02/00/22
NPRM Comment Period End............. 04/00/22
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Department of
the Treasury, Financial Crimes Enforcement Network, P.O. Box 39,
Vienna, VA 22183, Phone: 800 767-2825, Email: [email protected].
RIN: 1506-AB49
361. Section 6110. Bank Secrecy Act Application to Dealers in
Antiquities and Assessment of Bank Secrecy Act Application to Dealers
in Arts
Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1959; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: On September 24, 2021, FinCEN issued an Advance Notice of
Proposed Rulemaking in order to implement Section 6110 of the Anti-
Money Laundering Act of 2020 (the AML Act). This section amends the
Bank Secrecy Act (31 U.S.C. 5312(a)(2)) to include as a financial
institution a person engaged in the trade of antiquities, including an
advisor, consultant, or any other person who engages as a business in
the solicitation or the sale of antiquities, subject to regulations
prescribed by the Secretary of the Treasury. The section further
requires the Secretary of the Treasury to issue proposed rules to
implement the amendment within 360 days of enactment of the AML Act.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
ANPRM............................... 09/24/21 86 FR 53021
ANPRM Comment Period End............ 10/25/21
NPRM................................ 06/00/22
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Department of
the Treasury, Financial Crimes Enforcement Network, P.O. Box 39,
Vienna, VA 22183, Phone: 800 767-2825, Email: [email protected].
RIN: 1506-AB50
362. Section 6212. Pilot Program on Sharing of Information Related to
Suspicious Activity Reports Within a Financial Group
Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1959; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN intends to issue a Notice of Proposed Rulemaking
in order to implement Section 6212 of the Anti-Money Laundering Act of
2020 (the AML Act). This section amends the Bank Secrecy Act (31 U.S.C.
5318(g)) to establish a pilot program that permits financial
institutions to share suspicious activity report (SAR) information with
their foreign branches, subsidiaries, and affiliates for the purpose of
combating illicit finance risks. The section further requires the
Secretary of the Treasury to issue rules to implement the amendment
within one year of enactment of the AML Act.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 03/00/22
NPRM Comment Period End............. 05/00/22
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Department of
the Treasury, Financial Crimes Enforcement Network, P.O. Box 39,
Vienna, VA 22183, Phone: 800 767-2825, Email: [email protected].
RIN: 1506-AB51
363. Section 6101. Establishment of National Exam and Supervision
Priorities
Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1959; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN intends to issue a Notice of Proposed Rulemaking
to implement Section 6101 of the Anti-Money Laundering Act of 2020 (the
AML Act). That section, among other things, amends section 5318(h) to
title 31 of the United States Code to: (1) Require financial
institutions to establish countering the financing of terrorism (CFT)
in addition to AML programs; (2) require FinCEN to establish national
AML/CFT priorities and, as appropriate, promulgate implementing
regulations within 180 days of the issuance of those priorities; and
(3) provide that the duty to establish, maintain, and enforce a Bank
Secrecy Act AML/CFT program remains the responsibility of, and must be
performed by, persons in the United States who are accessible to, and
subject to oversight and supervision by, the Secretary of the Treasury
and the appropriate Federal functional regulator. Additionally, FinCEN
intends to propose other changes, including regulatory amendments to
establish that all financial institutions subject to an AML/CFT program
requirement must maintain an effective and reasonably designed AML/CFT
program, and that such a program must include a risk assessment
process.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 04/00/22
NPRM Comment Period End............. 06/00/22
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Department of
the Treasury, Financial Crimes Enforcement Network, P.O. Box 39,
Vienna, VA 22183, Phone: 800 767-2825, Email: [email protected].
RIN: 1506-AB52
DEPARTMENT OF THE TREASURY (TREAS)
Financial Crimes Enforcement Network (FINCEN)
Final Rule Stage
364. Requirements for Certain Transactions Involving Convertible
Virtual Currency or Digital Assets
Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1959; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN is proposing to amend the regulations implementing
the Bank Secrecy Act (BSA) to require banks and money service
businesses (MSBs) to submit reports, keep records, and verify the
identity of customers in relation to transactions involving convertible
virtual currency (CVC) or digital assets with legal tender status
(``legal tender digital assets'' or ``LTDA'') held in unhosted wallets,
or held in wallets hosted in a jurisdiction identified by FinCEN.
Timetable:
[[Page 5281]]
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 12/23/20 85 FR 83840
NPRM Comment Period End............. 01/04/21
Final Action........................ 09/00/22
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Department of
the Treasury, Financial Crimes Enforcement Network, P.O. Box 39,
Vienna, VA 22183, Phone: 800 767-2825, Email: [email protected].
RIN: 1506-AB47
DEPARTMENT OF THE TREASURY (TREAS)
Financial Crimes Enforcement Network (FINCEN)
Long-Term Actions
365. Amendments of The Definition of Broker or Dealer in Securities
(Crowd Funding)
Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1959; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5332
Abstract: FinCEN is finalizing amendments to the regulatory
definitions of ``broker or dealer in securities'' under the regulations
implementing the Bank Secrecy Act. The changes are intended to expand
the current scope of the definitions to include funding portals. In
addition, these amendments would require funding portals to implement
policies and procedures reasonably designed to achieve compliance with
all of the Bank Secrecy Act requirements that are currently applicable
to brokers or dealers in securities. The rule to require these
organizations to comply with the Bank Secrecy Act regulations is
intended to help prevent money laundering, terrorist financing, and
other financial crimes.
Note: This is not a new requirement; it replaces RINs 1506-AB24 and
1506-AB29.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 04/04/16 81 FR 19086
NPRM Comment Period End............. 06/03/16 .......................
Final Action........................ 11/00/22 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Phone: 800 767-
2825, Email: [email protected].
RIN: 1506-AB36
DEPARTMENT OF THE TREASURY (TREAS)
Financial Crimes Enforcement Network (FINCEN)
Completed Actions
366. Threshold for the Requirement To Collect, Retain, and Transmit
Information on Funds Transfers and Transmittals of Funds That Begin or
End Outside the United States
Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1959; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: In October 2020, the Board of Governors of the Federal
Reserve System and FinCEN (collectively, the ``Agencies'') issued a
proposed rule to modify the threshold in the rules implementing the
Bank Secrecy Act requiring financial institutions to collect and retain
information on certain funds transfers and transmittals of funds. The
modification would reduce this threshold from $3,000 for certain funds
transfers and transmittals of funds. At the same time, FinCEN likewise
issued a proposal to reduce from $3,000 the threshold in the rule
requiring financial institutions to transmit to other financial
institutions in the payment chain information on certain funds
transfers and transmittals of funds. The public comment period for the
proposed rulemaking expired on November 27, 2020. The Agencies are
working to develop a rule in light of the comments received from the
public.
Completed:
------------------------------------------------------------------------
Reason Date FR Cite
------------------------------------------------------------------------
Withdrawn........................... 09/03/21 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Phone: 800 767-
2825, Email: [email protected].
RIN: 1506-AB48
BILLING CODE 4810-02-P
DEPARTMENT OF THE TREASURY (TREAS)
Customs Revenue Function (CUSTOMS)
Final Rule Stage
367. Enforcement of Copyrights and the Digital Millennium Copyright Act
Legal Authority: Title III of the Trade Facilitation and Trade
Enforcement Act of 2015 (Pub. L. 114-125); 19 U.S.C. 1595a(c)(2)(G); 19
U.S.C. 1624
Abstract: This rule amends the U.S. Customs and Border Protection
(CBP) regulations pertaining to importations of merchandise that
violate or are suspected of violating the copyright laws in accordance
with title III of the Trade Facilitation and Trade Enforcement Act of
2015 (TFTEA) and certain provisions of the Digital Millennium Copyright
Act (DMCA).
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 10/16/19 84 FR 55251
NPRM Comment Period End............. 12/16/19 .......................
Final Rule.......................... 08/00/22 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Alaina Van Horn, Chief, Intellectual Property
Enforcement Branch, Department of the Treasury, Customs Revenue
Function, 1331 Pennsylvania Avenue NW, Washington, DC 20229, Phone: 202
325-0083, Email: [email protected].
RIN: 1515-AE26
BILLING CODE 9111-14-P
DEPARTMENT OF THE TREASURY (TREAS)
Internal Revenue Service (IRS)
Proposed Rule Stage
368. MEPS and the Unified Plan Rule
Legal Authority: 26 U.S.C. 7805; 26 U.S.C. 413
Abstract: These proposed regulations provide guidance relating to
the tax qualification of multiple employer plans (MEPs) described in
section 413(e) of the Internal Revenue Code (Code). The proposed
regulations would provide an exception, if certain requirements are
met, to the application of the ``unified plan rule'' for section 413(e)
MEPs in the event of a failure by one or more participating employers
to take actions required of them to satisfy the requirements of section
401(a) or 408 of the Code. The regulations affect participants in MEPs,
MEP sponsors and administrators, and employers maintaining MEPs.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 07/03/19 84 FR 31777
NPRM Comment Period End............. 10/01/19 .......................
Second NPRM......................... 04/00/22 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Jamie Dvoretzky, Attorney, Department of the
Treasury,
[[Page 5282]]
Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC
20224, Phone: 202 317-4102, Fax: 855 604-6087,
Email:[email protected].
RIN: 1545-BO97
369. Requirements Related to Surprise Billing, Part 2
Legal Authority: 26 U.S.C. 7805; Pub. L. 116-260, Division BB,
Title I and Title II
Abstract: This notice of proposed rulemaking would implement
additional protections against surprise medical bills under the No
Surprises Act and certain provisions related to Title II of Division BB
of the Consolidated Appropriations Act, by cross-reference to temporary
regulations.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 10/07/21 86 FR 55980
NPRM Comment Period End............. 12/06/21 .......................
Final Action........................ 12/00/22 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Kari L. DiCecco, General Attorney (Tax), Department
of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW,
Room 5712, Washington, DC 20224, Phone: 202 317-5500,
Email:[email protected].
RIN: 1545-BQ02
370. Information Reporting of Health Insurance Coverage and
Other Issues Under Sections 6055 and 6056
Legal Authority: 26 U.S.C. 7805; 26 U.S.C. 5000A; 26 U.S.C. 6056
Abstract: These regulations revise notice and filing requirements
under sections 6055 and 6056 of the Internal Revenue Code. The
regulations are needed to provide health coverage reporters an
extension of time in which to furnish certain statements and an
alternative manner of allowing certain health coverage reporters to
provide information to covered individuals.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 11/00/21 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Gerald Semasek, Attorney, Department of the
Treasury, Internal Revenue Service, 1111 Constitution Avenue NW,
Washington, DC 20024, Phone: 202 317-7006, Fax: 855 576-2339, Email:
[email protected].
RIN: 1545-BQ11
DEPARTMENT OF THE TREASURY (TREAS)
Internal Revenue Service (IRS)
Final Rule Stage
371. Guidance on the Elimination of Interbank Offered Rates
Legal Authority: 26 U.S.C. 1001b and 7805; 26 U.S.C. 7805
Abstract: The final regulations will provide guidance on the tax
consequences of the phased elimination of interbank offered rates
(IBORs) that is underway in the United States and many foreign
countries. Taxpayers have requested guidance that addresses whether a
modification to a debt instrument or other financial contract to
accommodate the elimination of the relevant IBOR will be treated as a
realization event for federal income tax purposes.
Timetable:
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Action Date FR Cite
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NPRM................................ 10/09/19 84 FR 54068
NPRM Comment Period End............. 11/25/19 .......................
Final Action........................ 12/00/21 .......................
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Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Caitlin Holzem, Attorney, Department of the
Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room
3547, Washington, DC 20224, Phone: 202 317-7036, Fax: 855 574-9023,
Email: [email protected].
RIN: 1545-BO91
372. Section 42 Low-Income Housing Credit Average Income Test
Regulations
Legal Authority: 26 U.S.C. 7805; 26 U.S.C. 42
Abstract: The Consolidated Appropriations Act of 2018 added a new
applicable minimum set-aside test under section 42(g) of the Internal
Revenue Code known as the average income test. This proposed regulation
will implement requirements related to the average income test.
Timetable:
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Action Date FR Cite
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NPRM................................ 10/30/20 85 FR 68816
NPRM Comment Period End............. 12/29/20 .......................
NPRM; Correction and Notice of 02/03/21 86 FR 8271
Public Hearing.
Public Hearing...................... 03/24/21 .......................
Final Action........................ 07/00/22 .......................
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Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Dillon J. Taylor, Attorney, Department of the
Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room
5107, Washington, DC 20224, Phone: 202 317-4137, Fax: 855 591-7867,
Email: [email protected].
RIN: 1545-BO92
373. Requirements Related to Surprise Billing, Part 1
Legal Authority: 26 U.S.C. 7805; Pub. L. 116-260, Division BB,
Title I and Title II
Abstract: This notice of proposed rulemaking would implement the
protections against surprise medical bills under the No Surprises Act,
by cross-reference to temporary regulations.
Timetable:
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Action Date FR Cite
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NPRM................................ 07/13/21 86 FR 36870
NPRM Comment Period End............. 09/13/21 .......................
Final Action........................ 12/00/21 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Kari L. DiCecco, General Attorney (Tax), Department
of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW,
Room 5712, Washington, DC 20224, Phone: 202 317-5500, Email:
[email protected].
RIN: 1545-BQ01
374. Requirements Related to Surprise Billing, Part 1 (Temporary
Regulation)
Legal Authority: 26 U.S.C. 7805; Pub. L. 116-260, Division BB,
Title I and Title II
Abstract: This temporary regulation implements the protections
against surprise medical bills under the No Surprises Act.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
Temporary Regulation................ 07/13/21 86 FR 36872
Temporary Regulation Effective...... 09/13/21 .......................
Removal of Temporary Action......... 12/00/21 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
[[Page 5283]]
Agency Contact: Kari L. DiCecco, General Attorney (Tax), Department
of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW,
Room 5712, Washington, DC 20224, Phone: 202 317-5500, Email:
[email protected].
RIN: 1545-BQ04
375. Requirements Related to Surprise Billing, Part 2 (Temporary
Regulation)
Legal Authority: 26 U.S.C. 7805; Pub. L. 116-260, Division BB,
Title I and Title II
Abstract: This temporary regulation would implement additional
protections against surprise medical bills under the No Surprises Act
and certain provisions related to Title II of Division BB of the
Consolidated Appropriations Act.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
Temporary Rule...................... 10/07/21 86 FR 55980
Temporary Rule Effective............ 10/07/21 .......................
Temporary Rule Comment Period End... 12/06/21 .......................
-----------------------------------
Reviewing Comments.................. To Be Determined
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Kari L. DiCecco, General Attorney (Tax), Department
of the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW,
Room 5712, Washington, DC 20224, Phone: 202 317-5500, Email:
[email protected].
RIN: 1545-BQ05
[FR Doc. 2021-27949 Filed 1-28-22; 8:45 am]
BILLING CODE 4810-01-P
