Agency Information Collection Activities; Emergency Submission for OMB Review; Comment Request; Homeowner Assistance Fund Compliance Reporting, 18476-18477 [2022-06705]
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18476
Federal Register / Vol. 87, No. 61 / Wednesday, March 30, 2022 / Notices
business in, the United States, to . . .
keep records and file reports, when the
resident, citizen, or person makes a
transaction or maintains a relation for
any person with a foreign financial
agency.’’ The term ‘‘foreign financial
agency’’ (FFA) means any person
engaging in any activities outside the
United States of a ‘‘financial agency,’’
which the statute defines as ‘‘a person
acting for a person . . . as a financial
institution, bailee, depository trustee, or
agent, or acting in a similar way related
to money, credit, securities, gold, or a
transaction in money, credit, securities
or gold, or a service provided with
respect to money, securities, futures,
precious metals, stones and jewels, or
value that substitutes for currency.’’ The
Secretary is also authorized to prescribe
exemptions to the reporting requirement
and to prescribe other matters the
Secretary considers necessary to carry
out 31 U.S.C. 5314. The regulations
implementing reports of transactions
with foreign financial agencies are
found at 31 CFR 1010.360.
31 CFR 1010.360(a) authorizes the
Secretary, when the Secretary deems
appropriate, to promulgate regulations
requiring specified financial institutions
to file reports of certain transactions
with designated FFAs.
A regulation promulgated pursuant to
31 CFR 1010.360(a) must designate one
or more of the following categories of
information to be reported by the
specified financial institution:
• Checks or drafts, including
traveler’s checks, received by a
respondent financial institution for
collection or credit to the account of a
designated FFA, sent by the respondent
financial institution to a foreign country
for collection or payment, drawn by the
respondent financial institution on a
designated FFA, or drawn by a
designated FFA on the respondent
financial institution, including the
following information: Name of maker
or drawer; name of drawee or drawee
financial institution; name of payee;
date and amount of instrument; and
names of all endorsers.
• Transmittal orders received by a
respondent financial institution from a
designated FFA or sent by the
respondent financial institution to a
designated FFA, including all
information maintained by that
institution pursuant to 31 CFR 1010.410
and 1020.410.
• Loans made by a respondent
financial institution to or through a
designated FFA, including the following
information: Name of borrower; name of
person acting for borrower; date and
amount of loan; terms of repayment;
name of guarantor; rate of interest;
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17:14 Mar 29, 2022
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method of distributing proceeds; and
collateral for loan.
• Commercial paper received or
shipped by a respondent financial
institution, including the following
information: Name of maker; date and
amount of paper; due date; certificate
number; and amount of transaction.
• Stocks received or shipped by a
respondent financial institution,
including the following information:
Name of corporation; type of stock;
certificate number; number of shares;
date of certificate; name of registered
holder; and amount of transaction.
• Bonds received or shipped by a
respondent financial institution,
including the following information:
Name of issuer; bond number; type of
bond series; date issued; due date; rate
of interest; amount of transaction; and
name of registered holder.
• Certificates of deposit received or
shipped by a respondent financial
institution, including the following
information: Name and address of
issuer; date issued; dollar amount; name
of registered holder; due date; rate of
interest; certificate number; and name
and address of issuing agent.
In issuing regulations as provided in
31 CFR 1010.360(a), the Secretary must
prescribe: A reasonable classification of
financial institutions subject to or
exempt from a reporting requirement; a
foreign country to which a reporting
requirement applies if the Secretary
decides that applying the requirement to
all foreign countries is unnecessary or
undesirable; the magnitude of
transactions subject to a reporting
requirement; and the kind of transaction
subject to or exempt from a reporting
requirement.
Regulations issued pursuant to 31
CFR 1010.360(a) may prescribe the
manner in which the information is to
be reported. However, the Secretary may
authorize a designated financial
institution to report in a different
manner if the institution demonstrates
to the Secretary that the form of the
required report is unnecessarily
burdensome on the institution as
prescribed; that a report in a different
form will provide all the information
the Secretary deems necessary; and that
submission of the information in a
different manner will not unduly hinder
the effective administration of 31 CFR
Chapter X.
In issuing regulations under 31 CFR
1010.360(e), the Secretary: (i) Must
consider the need to avoid impeding or
controlling the export or import of
monetary instruments and the need to
avoid burdening unreasonably a person
making a transaction with a designated
FFA; (ii) cannot issue a regulation under
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Fmt 4703
Sfmt 4703
31 CFR 1010.360(a) for the purpose of
obtaining individually identifiable
account information concerning a
customer, as defined by the Right to
Financial Privacy Act, where that
customer is already the subject of an
ongoing investigation for possible
violation of the BSA, or is known by the
Secretary to be the subject of an
investigation for possible violation of
any other Federal law; and (iii) may
issue a regulation pursuant to 31 CFR
1010.360(a) requiring a financial
institution to report transactions
completed prior to the date it received
notice of the reporting requirement.
However, with respect to completed
transactions, a financial institution may
be required to provide information only
from records required to be maintained
pursuant to the requirements of 31 CFR
Chapter X, or any other provision of
state or Federal law, or otherwise
maintained in the regular course of
business.
31 CFR 1010.430(d) requires that all
records that are required to be retained
by Chapter X must be retained for a
period of five years.
FinCEN is issuing this notice to renew
the OMB control number for regulations
requiring reports of transactions with
designated FFAs.
Form: None.
Affected Public: Businesses or other
for-profit institutions; non-profit
institutions.
Estimated Number of Respondents: 9.
Frequency of Response: On occasion.
Estimated Total Number of Annual
Responses: 84.
Estimated Total Annual Burden
Hours: 11,897 hours.
Authority: 44 U.S.C. 3501 et seq.
Molly Stasko,
Treasury PRA Clearance Officer.
[FR Doc. 2022–06643 Filed 3–29–22; 8:45 am]
BILLING CODE 4810–02–P
DEPARTMENT OF THE TREASURY
Agency Information Collection
Activities; Emergency Submission for
OMB Review; Comment Request;
Homeowner Assistance Fund
Compliance Reporting
Departmental Offices,
Department of the Treasury.
ACTION: Notice.
AGENCY:
The Department of the
Treasury has submitted the following
information collection request to the
Office of Management and Budget
(OMB) for review and clearance
utilizing emergency review procedures
in accordance with the Paperwork
SUMMARY:
E:\FR\FM\30MRN1.SGM
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khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 87, No. 61 / Wednesday, March 30, 2022 / Notices
Reduction Act of 1995. Emergency
review and approval of this collection
has been requested from OMB by April
12, 2022. The public is invited to submit
comments on this request.
DATES: Written comments must be
received on or before April 14, 2022.
ADDRESSES: Send comments regarding
the burden estimate, or any other aspect
of the information collection, including
suggestions for reducing the burden, by
the following method:
• Federal E-rulemaking Portal: https://
www.regulations.gov. Follow the
instructions for submitting comments.
Refer to Docket Number TREAS–DO–
2022–0008 and the specific Office of
Management and Budget (OMB) control
number 1505–0269.
FOR FURTHER INFORMATION CONTACT:
Copies of the submissions may be
obtained from Christopher Sun by
emailing HAF@treasury.gov, calling
877–398–5861, or viewing the entire
information collection request at
www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
Title: Homeowner Assistance Fund.
OMB Control Number: 1505–0269.
Type of Review: Revision of a
currently approved collection.
Description: On March 11, 2021, the
President signed the American Rescue
Plan Act of 2021 (the ‘‘Act’’), Public
Law 117–2. Title III, subtitle B, section
3206 of the Act established the
Homeowner Assistance Fund and
provides $9.961 billion for the U.S.
Department of the Treasury (Treasury)
to make payments to States (defined to
include the District of Columbia, Puerto
Rico, U.S. Virgin Islands, Guam,
Northern Mariana Islands, and
American Samoa), Indian tribes or
Tribally Designated Housing Entities, as
applicable, and the Department of
Hawaiian Home Lands (collectively the
‘‘eligible entities’’) to mitigate financial
hardships associated with the
coronavirus pandemic, including for the
purposes of preventing homeowner
mortgage delinquencies, defaults,
foreclosures, loss of utilities or home
energy services, and displacements of
homeowners experiencing financial
hardship after January 21, 2020, through
qualified expenses related to mortgages
and housing.
Treasury will collect a Quarterly
Report at the end of each calendar year
quarter for eligible entities that are a
State or Tribal Government with a HAF
allocation greater than $5 million. The
Department of Hawaiian Home Lands
and Tribal Governments with a HAF
allocation less than $5 million will be
required to submit a similar report once
a year.
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HAF participants will submit
quarterly certifications and reports,
including, among other things, details
on program budget; HAF Homeowner
applications approved; targeting metrics
around Homeowners assisted;
individual program information; and
individual program design element
information.
Additionally, Treasury will collect
from each eligible participant an Annual
Report once a year that will provide
Treasury with high-level information on
how the HAF participant is performing
relative to their forecasted goals noted
in their HAF Grantee Plan.
Treasury is requesting emergency
processing to add compliance reporting
(i.e., Quarterly Report and Annual
Report) this collection of information as
provided under 5 CFR 1320.13.
Treasury cannot reasonably comply
with normal clearance procedures
because Treasury will need to provide
the Guidance on Participant Compliance
and Reporting Responsibilities to HAF
participants along with the Portal
launch date and provide a high degree
of certainty that it will not change, so
that recipients can gather the necessary
information and build their own tools/
processes to comply. Additionally,
delays due to insufficient guidance will
more than likely impact established
timelines for HAF participants to report
on current quarter compliance and
delay future quarter compliance. Delays
in quarterly reporting will reduce
Treasury’s insight on current HAF
participant compliance issues.
Form: Quarterly Compliance Reports.
Affected Public: State and tribal
governments with allocations over $5
million dollars.
Estimated Number of Respondents:
67.
Frequency of Response: Quarterly, for
the duration of the program, final report
January 2027.
Estimated Total Number of Annual
Responses: 268.
Estimated Time per Response: 4
hours.
Estimated Total Annual Burden
Hours: 1,072 hours.
Form: Quarterly Compliance Reports.
Affected Public: Department of
Hawaiian Home Lands and tribal
governments with allocations less than
$5 million dollars.
Estimated Number of Respondents:
584.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 584.
Estimated Time per Response: 4
hours.
Estimated Total Annual Burden
Hours: 2,336 hours.
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Frm 00128
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18477
Form: Annual Reports.
Affected Public: States, Department of
Hawaiian Home Lands and tribal
governments.
Estimated Number of Respondents:
651.
Frequency of Response: Annual.
Estimated Total Number of Annual
Responses: 651.
Estimated Time per Response: 2
hours.
Estimated Total Annual Burden
Hours: 1,302 hours.
Authority: 44 U.S.C. 3501 et seq.
Molly Stasko,
Treasury PRA Clearance Officer.
[FR Doc. 2022–06705 Filed 3–29–22; 8:45 am]
BILLING CODE 4810–AK–P
DEPARTMENT OF THE TREASURY
Agency Information Collection
Activities; Submission for OMB
Review; Comment Request; Multiple
Internal Revenue Service Information
Collection Requests
Departmental Offices,
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 must be received on
or before April 29, 2022.
ADDRESSES: 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.
FOR FURTHER INFORMATION CONTACT:
Copies of the submissions may be
obtained from Molly Stasko by emailing
PRA@treasury.gov, calling (202) 622–
8922, or viewing the entire information
collection request at www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Internal Revenue Service (IRS)
1. Title: Notice Concerning Fiduciary
Relationship and Notice Concerning
Fiduciary Relationship of Financial
Institution.
OMB Control Number: 1545–0013.
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]]>Agencies
[Federal Register Volume 87, Number 61 (Wednesday, March 30, 2022)]
[Notices]
[Pages 18476-18477]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-06705]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Emergency Submission
for OMB Review; Comment Request; Homeowner Assistance Fund Compliance
Reporting
AGENCY: Departmental Offices, Department of the Treasury.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Department of the Treasury has submitted the following
information collection request to the Office of Management and Budget
(OMB) for review and clearance utilizing emergency review procedures in
accordance with the Paperwork
[[Page 18477]]
Reduction Act of 1995. Emergency review and approval of this collection
has been requested from OMB by April 12, 2022. The public is invited to
submit comments on this request.
DATES: Written comments must be received on or before April 14, 2022.
ADDRESSES: Send comments regarding the burden estimate, or any other
aspect of the information collection, including suggestions for
reducing the burden, by the following method:
Federal E-rulemaking Portal: https://www.regulations.gov.
Follow the instructions for submitting comments. Refer to Docket Number
TREAS-DO-2022-0008 and the specific Office of Management and Budget
(OMB) control number 1505-0269.
FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be
obtained from Christopher Sun by emailing [email protected], calling
877-398-5861, or viewing the entire information collection request at
www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
Title: Homeowner Assistance Fund.
OMB Control Number: 1505-0269.
Type of Review: Revision of a currently approved collection.
Description: On March 11, 2021, the President signed the American
Rescue Plan Act of 2021 (the ``Act''), Public Law 117-2. Title III,
subtitle B, section 3206 of the Act established the Homeowner
Assistance Fund and provides $9.961 billion for the U.S. Department of
the Treasury (Treasury) to make payments to States (defined to include
the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam,
Northern Mariana Islands, and American Samoa), Indian tribes or
Tribally Designated Housing Entities, as applicable, and the Department
of Hawaiian Home Lands (collectively the ``eligible entities'') to
mitigate financial hardships associated with the coronavirus pandemic,
including for the purposes of preventing homeowner mortgage
delinquencies, defaults, foreclosures, loss of utilities or home energy
services, and displacements of homeowners experiencing financial
hardship after January 21, 2020, through qualified expenses related to
mortgages and housing.
Treasury will collect a Quarterly Report at the end of each
calendar year quarter for eligible entities that are a State or Tribal
Government with a HAF allocation greater than $5 million. The
Department of Hawaiian Home Lands and Tribal Governments with a HAF
allocation less than $5 million will be required to submit a similar
report once a year.
HAF participants will submit quarterly certifications and reports,
including, among other things, details on program budget; HAF Homeowner
applications approved; targeting metrics around Homeowners assisted;
individual program information; and individual program design element
information.
Additionally, Treasury will collect from each eligible participant
an Annual Report once a year that will provide Treasury with high-level
information on how the HAF participant is performing relative to their
forecasted goals noted in their HAF Grantee Plan.
Treasury is requesting emergency processing to add compliance
reporting (i.e., Quarterly Report and Annual Report) this collection of
information as provided under 5 CFR 1320.13. Treasury cannot reasonably
comply with normal clearance procedures because Treasury will need to
provide the Guidance on Participant Compliance and Reporting
Responsibilities to HAF participants along with the Portal launch date
and provide a high degree of certainty that it will not change, so that
recipients can gather the necessary information and build their own
tools/processes to comply. Additionally, delays due to insufficient
guidance will more than likely impact established timelines for HAF
participants to report on current quarter compliance and delay future
quarter compliance. Delays in quarterly reporting will reduce
Treasury's insight on current HAF participant compliance issues.
Form: Quarterly Compliance Reports.
Affected Public: State and tribal governments with allocations over
$5 million dollars.
Estimated Number of Respondents: 67.
Frequency of Response: Quarterly, for the duration of the program,
final report January 2027.
Estimated Total Number of Annual Responses: 268.
Estimated Time per Response: 4 hours.
Estimated Total Annual Burden Hours: 1,072 hours.
Form: Quarterly Compliance Reports.
Affected Public: Department of Hawaiian Home Lands and tribal
governments with allocations less than $5 million dollars.
Estimated Number of Respondents: 584.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 584.
Estimated Time per Response: 4 hours.
Estimated Total Annual Burden Hours: 2,336 hours.
Form: Annual Reports.
Affected Public: States, Department of Hawaiian Home Lands and
tribal governments.
Estimated Number of Respondents: 651.
Frequency of Response: Annual.
Estimated Total Number of Annual Responses: 651.
Estimated Time per Response: 2 hours.
Estimated Total Annual Burden Hours: 1,302 hours.
Authority: 44 U.S.C. 3501 et seq.
Molly Stasko,
Treasury PRA Clearance Officer.
[FR Doc. 2022-06705 Filed 3-29-22; 8:45 am]
BILLING CODE 4810-AK-P
