Privacy Act of 1974; System of Records, 62889-62892 [2023-19814]
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Federal Register / Vol. 88, No. 176 / Wednesday, September 13, 2023 / Notices
ddrumheller on DSK120RN23PROD with NOTICES1
beginning model year for which the
petition is granted and a general
description of the antitheft device is
necessary in order to notify law
enforcement agencies of new vehicle
lines exempted from the parts-marking
requirements of the theft prevention
standard.
If Nissan decides not to use the
exemption for its requested vehicle line,
the manufacturer must formally notify
the agency. If such a decision is made,
the line must be fully marked as
required by 49 CFR 541.5 and 541.6
(marking of major component parts and
replacement parts).
NHTSA notes that if Nissan wishes in
the future to modify the device on
which the exemption is based, the
company may have to submit a petition
to modify the exemption. Section
543.8(d) states that a part 543 exemption
applies only to vehicles that belong to
a line exempted under this part and
equipped with the antitheft device on
which the line’s exemption is based.
Further, section 543.10(c)(2) provides
for the submission of petitions ‘‘to
modify an exemption to permit the use
of an antitheft device similar to but
differing from the one specified in the
exemption.’’ 8
The agency wishes to minimize the
administrative burden that section
543.10(c)(2) could place on exempted
vehicle manufacturers and itself. The
agency did not intend in drafting part
543 to require the submission of a
modification petition for every change
to the components or design of an
antitheft device. The significance of
many such changes could be de
minimis. Therefore, NHTSA suggests
that if Nissan contemplates making any
changes, the effects of which might be
characterized as de minimis, it should
consult the agency before preparing and
submitting a petition to modify.
For the foregoing reasons, the agency
hereby grants in full Nissan’s petition
for exemption for the Z vehicle line
from the parts-marking requirements of
49 CFR part 541, beginning with its MY
2024 vehicles.
8 The agency wishes to minimize the
administrative burden that section 543.10©(2)
could place on exempted vehicle manufacturers
and itself. The agency did not intend in drafting
part 543 to require the submission of a modification
petition for every change to the components or
design of an antitheft device. The significance of
many such changes could be de minimis. Therefore,
NHTSA suggests that if a manufacturer with an
exemption contemplates making any changes, the
effects of which might be characterized as de
minimis, it should consult the agency before
preparing and submitting a petition to modify.
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Issued under authority delegated in 49 CFR
1.95 and 501.8.
Milton E. Cooper,
Acting Associate Administrator for
Rulemaking.
[FR Doc. 2023–19761 Filed 9–12–23; 8:45 am]
BILLING CODE 4910–59–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
[Docket ID OCC–OCC–2023–0014]
Mutual Savings Association Advisory
Committee; Meeting
Office of the Comptroller of the
Currency (OCC), Treasury.
ACTION: Notice of Federal Advisory
Committee meeting.
AGENCY:
The OCC announces a
meeting of the Mutual Savings
Association Advisory Committee
(MSAAC).
SUMMARY:
A public meeting of the MSAAC
will be held on Tuesday, October 3,
2023, beginning at 8:30 a.m. Eastern
Daylight Time (EDT). The meeting will
be in person and virtual.
ADDRESSES: The OCC will host the
October 3, 2023 meeting of the MSAAC
at the OCC’s offices at 400 7th Street
SW, Washington, DC 20219 and
virtually.
DATES:
FOR FURTHER INFORMATION CONTACT:
Michael R. Brickman, Deputy
Comptroller for Specialty Supervision,
(202) 649–5420, Office of the
Comptroller of the Currency,
Washington, DC 20219. If you are deaf,
hard of hearing, or have a speech
disability, please dial 7–1–1 to access
telecommunications relay services. You
also may access prior MSAAC meeting
materials on the MSAAC page of the
OCC’s website.1
SUPPLEMENTARY INFORMATION: Under the
authority of the Federal Advisory
Committee Act (the Act), 5 U.S.C. 1001
et seq, and the regulations
implementing the Act at 41 CFR part
102–3, the OCC is announcing that the
MSAAC will convene a meeting on
Tuesday, October 3, 2023. The meeting
is open to the public and will begin at
8:30 a.m. EDT. The purpose of the
meeting is for the MSAAC to advise the
OCC on regulatory or other changes the
OCC may make to ensure the health and
viability of mutual savings associations.
1 https://occ.gov/topics/supervision-andexamination/bank-management/mutual-savingsassociations/mutual-savings-association-advisorycommittee.html.
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The agenda includes a discussion of
current topics of interest to the industry.
Members of the public may submit
written statements to the MSAAC. The
OCC must receive written statements no
later than 5:00 p.m. EDT on Thursday,
September 28, 2023. Members of the
public may submit written statements to
MSAAC@occ.treas.gov.
Members of the public who plan to
attend the meeting should contact the
OCC by 5:00 p.m. EDT on Thursday,
September 28, 2023, to inform the OCC
of their desire to attend the meeting and
whether they will attend in person or
virtually, and to obtain information
about participating in the meeting.
Members of the public may contact the
OCC via email at MSAAC@
OCC.treas.gov or by telephone at (202)
649–5420. Attendees should provide
their full name, email address, and
organization, if any. For persons who
are deaf, hard of hearing, or have a
speech disability, please dial 7–1–1 to
arrange telecommunications relay
services for this meeting.
Michael J. Hsu,
Acting Comptroller of the Currency.
[FR Doc. 2023–19732 Filed 9–12–23; 8:45 am]
BILLING CODE P
DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network
Privacy Act of 1974; System of
Records
Financial Crimes Enforcement
Network (FinCEN), Treasury.
ACTION: Notice of a new system of
records.
AGENCY:
In accordance with the
Privacy Act of 1974, as amended,
FinCEN is proposing to establish a new
system of records titled Treasury/
FinCEN .004 for information collected
by FinCEN in connection with the
implementation of the Corporate
Transparency Act (CTA). The CTA
requires certain entities to report to
FinCEN identifying information
associated with the entities themselves,
their beneficial owners, and their
company applicants (together, beneficial
ownership information or BOI). The
CTA also authorizes FinCEN to disclose
BOI to authorized recipients, subject to
strict protocols on security and
confidentiality.
SUMMARY:
This action will be effective
without further notice on October 13,
2023 unless it is modified in response
to comments. Comments must be
submitted by [the aforementioned date].
DATES:
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Federal Register / Vol. 88, No. 176 / Wednesday, September 13, 2023 / Notices
Comments may be
submitted by any of the following
methods:
• Federal E-rulemaking Portal:
https://www.regulations.gov. Follow the
instructions for submitting comments.
• Mail: Policy Division, Financial
Crimes Enforcement Network, P.O. Box
39, Vienna, VA 22183.
All comments received, including
attachments and other supporting
documents, are part of the public
records and subject to public disclosure.
All comments received will be posted
without change to www.regulations.gov,
including any personal information
provided. You should submit only
information that you wish to make
publicly available.
FOR FURTHER INFORMATION CONTACT: The
FinCEN Regulatory Support Section at
1–800–767–2825 or electronically at
https://www.fincen.gov/contact.
SUPPLEMENTARY INFORMATION: The CTA 1
establishes beneficial ownership
information (BOI) reporting
requirements for certain corporations,
limited liability companies, and other
entities created in or registered to do
business in the United States. Collection
and disclosure of BOI will facilitate
important national security,
intelligence, and law enforcement
activities, and help prevent criminals,
terrorists, proliferators, and other actors
from abusing corporate structures to
hide illicit proceeds in the United
States. Specifically, the CTA authorizes
FinCEN to collect and maintain BOI,2
and requires the Secretary of the
Treasury 3 (Secretary) to establish by
regulation protocols to protect the
security and confidentiality of BOI.4
The CTA also authorizes FinCEN to
disclose BOI to authorized
governmental authorities and financial
institutions, subject to effective
safeguards and controls, and requires
the Secretary to issue regulations
regarding access to BOI by those
authorized users.5 Finally, the CTA
requires FinCEN to maintain BOI for a
specified period of time.6
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ADDRESSES:
1 The CTA is Title LXIV of the William M. (Mac)
Thornberry National Defense Authorization Act for
Fiscal Year 2021, Public Law 116–283 (Jan. 1,
2021). Division F of the NDAA is the AML Act,
which includes the CTA.
2 Section 6403 of the CTA, among other things,
amends the Bank Secrecy Act (BSA) by adding a
new section 5336, Beneficial Ownership
Information Reporting Requirements, to subchapter
II of chapter 53 of title 31, United States Code.
3 The authority of the Secretary to administer the
BSA was delegated to the Director of FinCEN.
Treasury Order 180–01 (Jan. 14, 2020).
4 31 U.S.C. 5336(c)(8).
5 31 U.S.C. 5336(c).
6 31 U.S.C. 5336(c)(1).
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On September 30, 2022, FinCEN
issued the final rule establishing BOI
reporting requirements (the Reporting
Rule),7 which will be effective on
January 1, 2024. The Reporting Rule
requires certain entities (reporting
companies) to report to FinCEN
information about themselves, as well as
information about two categories of
individuals: (1) the beneficial owners of
the reporting company; and (2) the
company applicants, who are the
individuals who filed a document to
create the reporting company or register
it to do business in the United States.
When submitting the required
information to FinCEN, reporting
companies must file a Beneficial
Ownership Information Report (BOIR).
They must also file an updated BOIR to
reflect any changes to required
information previously submitted to
FinCEN. Additionally, for purposes of
BOI reporting, an individual or a
reporting company may obtain a
FinCEN identifier (FinCEN ID).
Generally, a FinCEN ID associated with
an individual can be used in lieu of the
information required to be reported
about that individual, and the FinCEN
ID associated with a reporting company
can be used in lieu of certain
information that would otherwise have
to be reported about that company.
To collect and maintain BOI, FinCEN
will utilize a secure, non-public
database that employs methods and
controls typically used by the Federal
government to protect non-classified but
sensitive information systems at the
highest Federal Information Security
Management Act (FISMA) 8 level—
FISMA High.9 The rating carries with it
a requirement to implement certain
baseline controls to protect the relevant
information.10 In addition to
information technology protection,
FinCEN has operational, management,
and physical controls for the handling
and protection of records. Furthermore,
access to BOI reported to FinCEN
pursuant to the Reporting Rule will be
governed by regulations specifically
pertaining to BOI access and safeguards,
including security and confidentiality.11
7 FinCEN, Beneficial Ownership Information
Reporting Requirements, 87 FR 59498 (Sept. 30,
2022), available at https://www.federalregister.gov/
documents/2022/09/30/2022-21020/beneficialownership-information-reporting-requirements.
8 44 U.S.C. 3541 et seq.
9 U.S. Department of Commerce, Federal
Information Processing Standards Publication:
Standards for Security Categorization of Federal
Information and Information Systems (FIPS Pub
199) (Feb. 2004), available at https://
nvlpubs.nist.gov/nistpubs/fips/nist.fips.199.pdf.
10 Id.
11 FinCEN issued a notice of proposed rulemaking
for the Access Rule. FinCEN, Beneficial Ownership
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These regulations aim to ensure that
only authorized recipients have access
to BOI and that access is used only for
purposes permitted by the CTA.
Dated: August 25, 2023.
Ryan Law,
Deputy Assistant Secretary for Privacy,
Transparency, and Records.
SYSTEM NAME AND NUMBER:
Treasury/FinCEN .004 Beneficial
Ownership Information System.
SECURITY CLASSIFICATION:
Unclassified.
SYSTEM LOCATION:
Financial Crimes Enforcement
Network (FinCEN), 1801 L Street NW,
Washington, DC and Amazon Web
Services, Headquarters Address: 410
Terry Ave. N, Seattle, WA 98109 (thirdparty vendor).
SYSTEM MANAGER:
Deputy Director, Financial Crimes
Enforcement Network, P.O. Box 39,
Vienna, VA 22183–0039.
AUTHORITY FOR MAINTENANCE OF THE SYSTEM:
The system is established and
maintained in accordance with 31
U.S.C. 5336; 31 CFR Chapter X; and
Treasury Order 180–01.
PURPOSE OF THE SYSTEM:
The purpose of this system is to
collect, maintain, safeguard, and
disclose BOI as permitted or required by
the CTA and its implementing
regulations.
CATEGORIES OF INDIVIDUALS COVERED BY THE
SYSTEM:
There are three categories of
individuals covered by this system: (1)
individuals whose information is
reported to FinCEN through BOIRs; (2)
individuals who request FinCEN IDs;
and (3) individuals who submit BOIRs
to FinCEN.
The first category of individuals
whose information will be included in
the system are individuals reported
either as ‘‘beneficial owners’’ or
‘‘company applicants’’ of reporting
companies.12 Subject to certain
exemptions, a beneficial owner is any
Information Access and Safeguards, and Use of
FinCEN Identifiers for Entities, 87 FR 77404 (Dec.
16, 2022), available at https://
www.federalregister.gov/documents/2022/12/16/
2022-27031/beneficial-ownership-informationaccess-and-safeguards-and-use-of-fincenidentifiers-for-entities.
12 FinCEN, Beneficial Ownership Information
Reporting Requirements, 87 FR 59498, 59593 (Sept.
30, 2022), available at https://
www.federalregister.gov/documents/2022/09/30/
2022-21020/beneficial-ownership-informationreporting-requirements.
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Federal Register / Vol. 88, No. 176 / Wednesday, September 13, 2023 / Notices
individual who, directly or indirectly,
exercises substantial control over a
reporting company or owns or controls
at least 25 percent of the ownership
interests of a reporting company. In the
case of a domestic reporting company,
a company applicant is the individual
who directly files the document that
forms the entity, or in the case of a
foreign reporting company, who directly
files the document that first registers the
entity to do business in the United
States. If more than one person is
involved in the filing of the document,
whether for a domestic or a foreign
reporting company, the individual who
is primarily responsible for directing or
controlling the filing is also a company
applicant.
The second category of individuals
whose information will be included in
the system are individuals who apply
for a FinCEN ID. In order to obtain and
retain a FinCEN ID, individuals will
have to report certain information about
themselves.
Finally, the third category of
individuals whose information will be
included in the system are individuals
who submit the BOIR on behalf of the
reporting company. Some identifiable
information about those individuals will
be included in the system by virtue of
their interactions with the IT system.
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CATEGORIES OF RECORDS IN THE SYSTEM:
Records consist of (1) information
submitted to FinCEN in BOIRs and
FinCEN ID requests; (2) information
submitted to FinCEN by and about
individuals that submit BOIRs on behalf
of a reporting company; and (3)
information that FinCEN obtains from
federal government agencies and
commercial vendors for purposes of
data quality assurance and
enhancement, such as standardizing
addresses and other information
submitted in BOIRs and FinCEN ID
requests.
Records include, but may not be
limited to, the following information,
which is being collected either pursuant
to the CTA or as needed to administer
the BOI System.
• full legal names,
• dates of birth,
• residential and business addresses,
• unique identifying numbers from
one of the following:
Æ State-issued driver’s license,
Æ U.S. or foreign passport,
Æ State/local/Tribal-issued
identification,
• images of identification documents
containing these numbers,
• FinCEN ID numbers, and
• email addresses, as needed to
administer the BOI System.
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RECORD SOURCE CATEGORIES:
Records in the BOI system may be
provided by individuals and entities. In
addition to information provided in a
BOIR about a reporting company’s
beneficial owners or company
applicants, individuals submitting
BOIRs on behalf of reporting companies
will provide limited information about
themselves. Individuals applying for
FinCEN IDs will provide information
about themselves. Commercial vendors
and federal government agencies will
provide data quality assurance and
enhancement information that covers
the same categories of information as
that provided by individuals and
reporting companies.
ROUTINE USES OF RECORDS MAINTAINED IN THE
SYSTEM, INCLUDING CATEGORIES OF USERS AND
PURPOSES OF SUCH USES:
Records in this system may be used
to:
(1) Disclose information to the United
States Department of Justice (DOJ) for
the purpose of providing representation
or legal advice in anticipation of, or in
connection with, a proceeding before a
court, adjudicative body, or other
administrative body, when such
proceeding involves: (a) Treasury or any
bureau or office thereof; (b) any
employee of Treasury in their official
capacity; (c) any employee of Treasury
in their individual capacity where DOJ
or Treasury has agreed to represent the
employee; or (d) the United States, if the
use of such information by DOJ is
deemed by DOJ or Treasury to be
relevant and necessary and provided
that the disclosure is compatible with
the purpose for which information was
collected;
(2) Disclose information in
furtherance of national security,
intelligence, or law enforcement activity
by Federal agencies engaged in such
activities, consistent with 31 U.S.C.
5336(c)(2)(B)(i)(I);
(3) Disclose information for use in
criminal or civil investigations by State,
local, and Tribal law enforcement
agencies, consistent with 31 U.S.C.
5336(c)(2)(B)(i)(II);
(4) Disclose information to Federal
agencies that have submitted requests
on behalf of foreign law enforcement
agencies, prosecutors, and judges,
including foreign central authorities or
competent authorities, consistent with
31 U.S.C. 5336(c)(2)(B)(ii);
(5) Disclose information to financial
institutions, consistent with 31 U.S.C.
5336(c)(2)(B)(iii) and (C);
(6) Disclose information to Federal
functional regulators and other
appropriate regulatory agencies,
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62891
consistent with 31 U.S.C.
5336(c)(2)(B)(iv) and (C);
(7) Disclose information to Treasury
officers, employees, contractors, or
agents for their official duties, including
tax administration purposes, consistent
with 31 U.S.C. 5336(c)(5);
(8) Disclose to appropriate agencies,
entities, and persons when (1) FinCEN
suspects or has confirmed that there has
been a breach of the system of records,
(2) FinCEN has determined that as a
result of the suspected or confirmed
breach there is a risk of harm to
individuals, FinCEN (including its
information systems, programs, and
operations), the Federal Government, or
national security; and (3) the disclosure
made to such agencies, entities, and
persons is reasonably necessary to assist
in connection with FinCEN efforts to
respond to the suspected or confirmed
breach or to prevent, minimize, or
remedy such harm;
(9) Disclose information to another
Federal agency or Federal entity, when
FinCEN determines that information
from this system of records is
reasonably necessary to assist the
recipient agency or entity in (1)
responding to a suspected or confirmed
breach or (2) preventing, minimizing, or
remedying the risk of harm to
individuals, the recipient agency or
entity (including its information
systems, programs, and operations), the
Federal Government, or national
security, resulting from a suspected or
confirmed breach;
(10) Disclose information to student
volunteers and other individuals not
having the status of agency employees,
if they need access to the information to
perform services as authorized under
law relating to the official programs and
operations of FinCEN. Individuals
provided records under this routine use
are subject to the same requirements
and limitations on disclosure as are
applicable to FinCEN officers and
employees; and
(11) To the extent permitted and
required by law, disclose information to
the National Archives and Records
Administration Archivist (or the
Archivist’s designee) pursuant to
records management inspections being
conducted under the authority of 44
U.S.C. 2904 and 2906.
POLICIES AND PRACTICES FOR STORAGE OF
RECORDS:
FinCEN maintains records in this
system in security controlled physical
locations, using information technology
that follows federal information security
standards and directives.
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Federal Register / Vol. 88, No. 176 / Wednesday, September 13, 2023 / Notices
POLICIES AND PRACTICES FOR RETRIEVAL OF
RECORDS:
Records collected in the system are
accessible, for authorized purposes, to
various categories of recipients
described above in the ‘‘Routine Uses of
Records’’ section. Users will be able to
retrieve these records by name or other
unique identifier.
POLICIES AND PRACTICES FOR RETENTION AND
DISPOSAL OF RECORDS:
FinCEN maintains records in this
system in a secure IT system following
federal information security standards
and directives and in security controlled
physical locations. FinCEN ID
application records will be retained for
at least five (5) years after every
reporting company to which the FinCEN
ID is applied terminates. Pursuant to the
CTA, BOIR records will be retained for
at least five (5) years after the reporting
company terminates.13 Records will be
disposed of in accordance with the
requirements of the CTA, the Federal
Records Act,14 and applicable record
retention schedules.
ADMINISTRATIVE, TECHNICAL, AND PHYSICAL
SAFEGUARDS:
FinCEN safeguards BOI records in this
system in accordance with applicable
rules and policies, including all
applicable Treasury information
systems security and access policies.
FinCEN imposes strict controls to
minimize the risk of compromising the
information that is being stored. Access
to the records in this system is limited
to those individuals who have
appropriate permissions. User activity is
recorded by the system for audit
purposes. Electronic records are
encrypted at rest and in transit. Records
are maintained in buildings subject to
24-hour security.
RECORD ACCESS PROCEDURES:
This system is exempt from
notification requirements, record access
requirements, and requirements that an
individual be permitted to contest its
contents, pursuant to the provisions of
5 U.S.C. 552a(j)(2) and (k)(2).
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CONTESTING RECORD PROCEDURES:
This system is exempt from
notification requirements, record access
requirements, and requirements that an
individual be permitted to contest its
contents, pursuant to the provisions of
5 U.S.C. 552a(j)(2) and (k)(2).
NOTIFICATION PROCEDURES:
This system is exempt from
notification requirements, record access
13 31
U.S.C. 5336(c)(1).
44 U.S.C. Ch. 31.
14 See
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requirements, and requirements that an
individual be permitted to contest its
contents, pursuant to the provisions of
5 U.S.C. 552a(j)(2), and (k)(2).
EXEMPTIONS PROMULGATED FOR THE SYSTEM:
This system is exempt from 5 U.S.C.
552a(c)(3), (c)(4), (d)(1), (d)(2), (d)(3),
(d)(4), (e)(1), (e)(2), (e)(4)(G), (e)(4)(H),
(e)(5), (e)(8), (f), and (g) of the Privacy
Act pursuant to 5 U.S.C. 552a(j)(2), and
(k)(2). See 31 CFR 1.36.
HISTORY:
will be a discussion of the Difficult/
Challenging Letters/Notices, and a
Review of Notice CP503.
Dated: September 6, 2023.
Kevin Brown,
Acting Director, Taxpayer Advocacy Panel.
[FR Doc. 2023–19750 Filed 9–12–23; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
None.
[FR Doc. 2023–19814 Filed 9–12–23; 8:45 am]
BILLING CODE 4810–02–P
Open Meeting of the Taxpayer
Advocacy Panel Joint Committee
DEPARTMENT OF THE TREASURY
Internal Revenue Service (IRS),
Treasury.
Internal Revenue Service
ACTION:
Open Meeting of the Taxpayer
Advocacy Panel’s Notices and
Correspondence Project Committee
SUMMARY:
AGENCY:
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice of meeting.
AGENCY:
An open meeting of the
Taxpayer Advocacy Panel’s Notices and
Correspondence Project Committee will
be conducted. The Taxpayer Advocacy
Panel is soliciting public comments,
ideas, and suggestions on improving
customer service at the Internal Revenue
Service. This meeting will be held via
teleconference.
DATES: The meeting will be held
Thursday, October 12, 2023.
FOR FURTHER INFORMATION CONTACT:
Kelvin Johnson at 1–888–912–1227 or
(504) 202–9679.
SUPPLEMENTARY INFORMATION: Notice is
hereby given pursuant to section
10(a)(2) of the Federal Advisory
Committee Act, 5 U.S.C. app. (1988) that
an open meeting of the Taxpayer
Advocacy Panel’s Notices and
Correspondence Project Committee will
be held Thursday, October 12, 2023, at
3:00 p.m. Eastern Time. The public is
invited to make oral comments or
submit written statements for
consideration. Due to limited time and
structure of meeting, notification of
intent to participate must be made with
Ann Tabat. For more information,
please contact Kelvin Johnson at 1–888–
912–1227 or (504) 202–9679, or write
TAP Office, 1555 Poydras Street, 2nd
Floor, MS 12, New Orleans, LA 70112
or contact us at the website: https://
www.improveirs.org. The agenda will
include a committee discussion about
the IRS response to Issue 53484–LTR
3030C (Bal-Due/Interest Due). There
SUMMARY:
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Notice of meeting.
An open meeting of the
Taxpayer Advocacy Panel Joint
Committee will be conducted. The
Taxpayer Advocacy Panel is soliciting
public comments, ideas, and
suggestions on improving customer
service at the Internal Revenue Service.
This meeting will be held via
teleconference through the Microsoft
Teams Platform.
The meeting will be held
Monday, October 23, 2023.
DATES:
FOR FURTHER INFORMATION CONTACT:
Conchata Holloway at 1–888–912–1227
or 214–413–6550.
Notice is
hereby given pursuant to section
10(a)(2) of the Federal Advisory
Committee Act, 5 U.S.C. app. (1988) that
an open meeting of the Taxpayer
Advocacy Panel Joint Committee will be
held Monday, October 23, 2023, at 3:00
p.m. Eastern Time via teleconference.
The public is invited to make oral
comments or submit written statements
for consideration. For more information,
please contact Conchata Holloway at 1–
888–912–1227 or 214–413–6550, or
write TAP Office, 1114 Commerce St.,
MC 1005, Dallas, TX 75242 or contact us
at the website: https://
www.improveirs.org.
The agenda will include the potential
project referrals from the committees,
and discussions on priorities the TAP
will focus on for the 2023 year. Public
input is welcomed.
SUPPLEMENTARY INFORMATION:
Dated: September 6, 2023.
Kevin Brown,
Acting Director, Taxpayer Advocacy Panel.
[FR Doc. 2023–19751 Filed 9–12–23; 8:45 am]
BILLING CODE 4830–01–P
E:\FR\FM\13SEN1.SGM
13SEN1
]]>Agencies
[Federal Register Volume 88, Number 176 (Wednesday, September 13, 2023)]
[Notices]
[Pages 62889-62892]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-19814]
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DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network
Privacy Act of 1974; System of Records
AGENCY: Financial Crimes Enforcement Network (FinCEN), Treasury.
ACTION: Notice of a new system of records.
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SUMMARY: In accordance with the Privacy Act of 1974, as amended, FinCEN
is proposing to establish a new system of records titled Treasury/
FinCEN .004 for information collected by FinCEN in connection with the
implementation of the Corporate Transparency Act (CTA). The CTA
requires certain entities to report to FinCEN identifying information
associated with the entities themselves, their beneficial owners, and
their company applicants (together, beneficial ownership information or
BOI). The CTA also authorizes FinCEN to disclose BOI to authorized
recipients, subject to strict protocols on security and
confidentiality.
DATES: This action will be effective without further notice on October
13, 2023 unless it is modified in response to comments. Comments must
be submitted by [the aforementioned date].
[[Page 62890]]
ADDRESSES: Comments may be submitted by any of the following methods:
Federal E-rulemaking Portal: https://www.regulations.gov.
Follow the instructions for submitting comments.
Mail: Policy Division, Financial Crimes Enforcement
Network, P.O. Box 39, Vienna, VA 22183.
All comments received, including attachments and other supporting
documents, are part of the public records and subject to public
disclosure. All comments received will be posted without change to
www.regulations.gov, including any personal information provided. You
should submit only information that you wish to make publicly
available.
FOR FURTHER INFORMATION CONTACT: The FinCEN Regulatory Support Section
at 1-800-767-2825 or electronically at https://www.fincen.gov/contact.
SUPPLEMENTARY INFORMATION: The CTA \1\ establishes beneficial ownership
information (BOI) reporting requirements for certain corporations,
limited liability companies, and other entities created in or
registered to do business in the United States. Collection and
disclosure of BOI will facilitate important national security,
intelligence, and law enforcement activities, and help prevent
criminals, terrorists, proliferators, and other actors from abusing
corporate structures to hide illicit proceeds in the United States.
Specifically, the CTA authorizes FinCEN to collect and maintain BOI,\2\
and requires the Secretary of the Treasury \3\ (Secretary) to establish
by regulation protocols to protect the security and confidentiality of
BOI.\4\ The CTA also authorizes FinCEN to disclose BOI to authorized
governmental authorities and financial institutions, subject to
effective safeguards and controls, and requires the Secretary to issue
regulations regarding access to BOI by those authorized users.\5\
Finally, the CTA requires FinCEN to maintain BOI for a specified period
of time.\6\
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\1\ The CTA is Title LXIV of the William M. (Mac) Thornberry
National Defense Authorization Act for Fiscal Year 2021, Public Law
116-283 (Jan. 1, 2021). Division F of the NDAA is the AML Act, which
includes the CTA.
\2\ Section 6403 of the CTA, among other things, amends the Bank
Secrecy Act (BSA) by adding a new section 5336, Beneficial Ownership
Information Reporting Requirements, to subchapter II of chapter 53
of title 31, United States Code.
\3\ The authority of the Secretary to administer the BSA was
delegated to the Director of FinCEN. Treasury Order 180-01 (Jan. 14,
2020).
\4\ 31 U.S.C. 5336(c)(8).
\5\ 31 U.S.C. 5336(c).
\6\ 31 U.S.C. 5336(c)(1).
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On September 30, 2022, FinCEN issued the final rule establishing
BOI reporting requirements (the Reporting Rule),\7\ which will be
effective on January 1, 2024. The Reporting Rule requires certain
entities (reporting companies) to report to FinCEN information about
themselves, as well as information about two categories of individuals:
(1) the beneficial owners of the reporting company; and (2) the company
applicants, who are the individuals who filed a document to create the
reporting company or register it to do business in the United States.
When submitting the required information to FinCEN, reporting companies
must file a Beneficial Ownership Information Report (BOIR). They must
also file an updated BOIR to reflect any changes to required
information previously submitted to FinCEN. Additionally, for purposes
of BOI reporting, an individual or a reporting company may obtain a
FinCEN identifier (FinCEN ID). Generally, a FinCEN ID associated with
an individual can be used in lieu of the information required to be
reported about that individual, and the FinCEN ID associated with a
reporting company can be used in lieu of certain information that would
otherwise have to be reported about that company.
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\7\ FinCEN, Beneficial Ownership Information Reporting
Requirements, 87 FR 59498 (Sept. 30, 2022), available at https://www.federalregister.gov/documents/2022/09/30/2022-21020/beneficial-ownership-information-reporting-requirements.
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To collect and maintain BOI, FinCEN will utilize a secure, non-
public database that employs methods and controls typically used by the
Federal government to protect non-classified but sensitive information
systems at the highest Federal Information Security Management Act
(FISMA) \8\ level--FISMA High.\9\ The rating carries with it a
requirement to implement certain baseline controls to protect the
relevant information.\10\ In addition to information technology
protection, FinCEN has operational, management, and physical controls
for the handling and protection of records. Furthermore, access to BOI
reported to FinCEN pursuant to the Reporting Rule will be governed by
regulations specifically pertaining to BOI access and safeguards,
including security and confidentiality.\11\ These regulations aim to
ensure that only authorized recipients have access to BOI and that
access is used only for purposes permitted by the CTA.
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\8\ 44 U.S.C. 3541 et seq.
\9\ U.S. Department of Commerce, Federal Information Processing
Standards Publication: Standards for Security Categorization of
Federal Information and Information Systems (FIPS Pub 199) (Feb.
2004), available at https://nvlpubs.nist.gov/nistpubs/fips/nist.fips.199.pdf.
\10\ Id.
\11\ FinCEN issued a notice of proposed rulemaking for the
Access Rule. FinCEN, Beneficial Ownership Information Access and
Safeguards, and Use of FinCEN Identifiers for Entities, 87 FR 77404
(Dec. 16, 2022), available at https://www.federalregister.gov/documents/2022/12/16/2022-27031/beneficial-ownership-information-access-and-safeguards-and-use-of-fincen-identifiers-for-entities.
Dated: August 25, 2023.
Ryan Law,
Deputy Assistant Secretary for Privacy, Transparency, and Records.
SYSTEM NAME AND NUMBER:
Treasury/FinCEN .004 Beneficial Ownership Information System.
SECURITY CLASSIFICATION:
Unclassified.
SYSTEM LOCATION:
Financial Crimes Enforcement Network (FinCEN), 1801 L Street NW,
Washington, DC and Amazon Web Services, Headquarters Address: 410 Terry
Ave. N, Seattle, WA 98109 (third-party vendor).
SYSTEM MANAGER:
Deputy Director, Financial Crimes Enforcement Network, P.O. Box 39,
Vienna, VA 22183-0039.
AUTHORITY FOR MAINTENANCE OF THE SYSTEM:
The system is established and maintained in accordance with 31
U.S.C. 5336; 31 CFR Chapter X; and Treasury Order 180-01.
PURPOSE OF THE SYSTEM:
The purpose of this system is to collect, maintain, safeguard, and
disclose BOI as permitted or required by the CTA and its implementing
regulations.
CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM:
There are three categories of individuals covered by this system:
(1) individuals whose information is reported to FinCEN through BOIRs;
(2) individuals who request FinCEN IDs; and (3) individuals who submit
BOIRs to FinCEN.
The first category of individuals whose information will be
included in the system are individuals reported either as ``beneficial
owners'' or ``company applicants'' of reporting companies.\12\ Subject
to certain exemptions, a beneficial owner is any
[[Page 62891]]
individual who, directly or indirectly, exercises substantial control
over a reporting company or owns or controls at least 25 percent of the
ownership interests of a reporting company. In the case of a domestic
reporting company, a company applicant is the individual who directly
files the document that forms the entity, or in the case of a foreign
reporting company, who directly files the document that first registers
the entity to do business in the United States. If more than one person
is involved in the filing of the document, whether for a domestic or a
foreign reporting company, the individual who is primarily responsible
for directing or controlling the filing is also a company applicant.
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\12\ FinCEN, Beneficial Ownership Information Reporting
Requirements, 87 FR 59498, 59593 (Sept. 30, 2022), available at
https://www.federalregister.gov/documents/2022/09/30/2022-21020/beneficial-ownership-information-reporting-requirements.
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The second category of individuals whose information will be
included in the system are individuals who apply for a FinCEN ID. In
order to obtain and retain a FinCEN ID, individuals will have to report
certain information about themselves.
Finally, the third category of individuals whose information will
be included in the system are individuals who submit the BOIR on behalf
of the reporting company. Some identifiable information about those
individuals will be included in the system by virtue of their
interactions with the IT system.
CATEGORIES OF RECORDS IN THE SYSTEM:
Records consist of (1) information submitted to FinCEN in BOIRs and
FinCEN ID requests; (2) information submitted to FinCEN by and about
individuals that submit BOIRs on behalf of a reporting company; and (3)
information that FinCEN obtains from federal government agencies and
commercial vendors for purposes of data quality assurance and
enhancement, such as standardizing addresses and other information
submitted in BOIRs and FinCEN ID requests.
Records include, but may not be limited to, the following
information, which is being collected either pursuant to the CTA or as
needed to administer the BOI System.
full legal names,
dates of birth,
residential and business addresses,
unique identifying numbers from one of the following:
[cir] State-issued driver's license,
[cir] U.S. or foreign passport,
[cir] State/local/Tribal-issued identification,
images of identification documents containing these
numbers,
FinCEN ID numbers, and
email addresses, as needed to administer the BOI System.
RECORD SOURCE CATEGORIES:
Records in the BOI system may be provided by individuals and
entities. In addition to information provided in a BOIR about a
reporting company's beneficial owners or company applicants,
individuals submitting BOIRs on behalf of reporting companies will
provide limited information about themselves. Individuals applying for
FinCEN IDs will provide information about themselves. Commercial
vendors and federal government agencies will provide data quality
assurance and enhancement information that covers the same categories
of information as that provided by individuals and reporting companies.
ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES
OF USERS AND PURPOSES OF SUCH USES:
Records in this system may be used to:
(1) Disclose information to the United States Department of Justice
(DOJ) for the purpose of providing representation or legal advice in
anticipation of, or in connection with, a proceeding before a court,
adjudicative body, or other administrative body, when such proceeding
involves: (a) Treasury or any bureau or office thereof; (b) any
employee of Treasury in their official capacity; (c) any employee of
Treasury in their individual capacity where DOJ or Treasury has agreed
to represent the employee; or (d) the United States, if the use of such
information by DOJ is deemed by DOJ or Treasury to be relevant and
necessary and provided that the disclosure is compatible with the
purpose for which information was collected;
(2) Disclose information in furtherance of national security,
intelligence, or law enforcement activity by Federal agencies engaged
in such activities, consistent with 31 U.S.C. 5336(c)(2)(B)(i)(I);
(3) Disclose information for use in criminal or civil
investigations by State, local, and Tribal law enforcement agencies,
consistent with 31 U.S.C. 5336(c)(2)(B)(i)(II);
(4) Disclose information to Federal agencies that have submitted
requests on behalf of foreign law enforcement agencies, prosecutors,
and judges, including foreign central authorities or competent
authorities, consistent with 31 U.S.C. 5336(c)(2)(B)(ii);
(5) Disclose information to financial institutions, consistent with
31 U.S.C. 5336(c)(2)(B)(iii) and (C);
(6) Disclose information to Federal functional regulators and other
appropriate regulatory agencies, consistent with 31 U.S.C.
5336(c)(2)(B)(iv) and (C);
(7) Disclose information to Treasury officers, employees,
contractors, or agents for their official duties, including tax
administration purposes, consistent with 31 U.S.C. 5336(c)(5);
(8) Disclose to appropriate agencies, entities, and persons when
(1) FinCEN suspects or has confirmed that there has been a breach of
the system of records, (2) FinCEN has determined that as a result of
the suspected or confirmed breach there is a risk of harm to
individuals, FinCEN (including its information systems, programs, and
operations), the Federal Government, or national security; and (3) the
disclosure made to such agencies, entities, and persons is reasonably
necessary to assist in connection with FinCEN efforts to respond to the
suspected or confirmed breach or to prevent, minimize, or remedy such
harm;
(9) Disclose information to another Federal agency or Federal
entity, when FinCEN determines that information from this system of
records is reasonably necessary to assist the recipient agency or
entity in (1) responding to a suspected or confirmed breach or (2)
preventing, minimizing, or remedying the risk of harm to individuals,
the recipient agency or entity (including its information systems,
programs, and operations), the Federal Government, or national
security, resulting from a suspected or confirmed breach;
(10) Disclose information to student volunteers and other
individuals not having the status of agency employees, if they need
access to the information to perform services as authorized under law
relating to the official programs and operations of FinCEN. Individuals
provided records under this routine use are subject to the same
requirements and limitations on disclosure as are applicable to FinCEN
officers and employees; and
(11) To the extent permitted and required by law, disclose
information to the National Archives and Records Administration
Archivist (or the Archivist's designee) pursuant to records management
inspections being conducted under the authority of 44 U.S.C. 2904 and
2906.
POLICIES AND PRACTICES FOR STORAGE OF RECORDS:
FinCEN maintains records in this system in security controlled
physical locations, using information technology that follows federal
information security standards and directives.
[[Page 62892]]
POLICIES AND PRACTICES FOR RETRIEVAL OF RECORDS:
Records collected in the system are accessible, for authorized
purposes, to various categories of recipients described above in the
``Routine Uses of Records'' section. Users will be able to retrieve
these records by name or other unique identifier.
POLICIES AND PRACTICES FOR RETENTION AND DISPOSAL OF RECORDS:
FinCEN maintains records in this system in a secure IT system
following federal information security standards and directives and in
security controlled physical locations. FinCEN ID application records
will be retained for at least five (5) years after every reporting
company to which the FinCEN ID is applied terminates. Pursuant to the
CTA, BOIR records will be retained for at least five (5) years after
the reporting company terminates.\13\ Records will be disposed of in
accordance with the requirements of the CTA, the Federal Records
Act,\14\ and applicable record retention schedules.
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\13\ 31 U.S.C. 5336(c)(1).
\14\ See 44 U.S.C. Ch. 31.
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ADMINISTRATIVE, TECHNICAL, AND PHYSICAL SAFEGUARDS:
FinCEN safeguards BOI records in this system in accordance with
applicable rules and policies, including all applicable Treasury
information systems security and access policies. FinCEN imposes strict
controls to minimize the risk of compromising the information that is
being stored. Access to the records in this system is limited to those
individuals who have appropriate permissions. User activity is recorded
by the system for audit purposes. Electronic records are encrypted at
rest and in transit. Records are maintained in buildings subject to 24-
hour security.
RECORD ACCESS PROCEDURES:
This system is exempt from notification requirements, record access
requirements, and requirements that an individual be permitted to
contest its contents, pursuant to the provisions of 5 U.S.C. 552a(j)(2)
and (k)(2).
CONTESTING RECORD PROCEDURES:
This system is exempt from notification requirements, record access
requirements, and requirements that an individual be permitted to
contest its contents, pursuant to the provisions of 5 U.S.C. 552a(j)(2)
and (k)(2).
NOTIFICATION PROCEDURES:
This system is exempt from notification requirements, record access
requirements, and requirements that an individual be permitted to
contest its contents, pursuant to the provisions of 5 U.S.C.
552a(j)(2), and (k)(2).
EXEMPTIONS PROMULGATED FOR THE SYSTEM:
This system is exempt from 5 U.S.C. 552a(c)(3), (c)(4), (d)(1),
(d)(2), (d)(3), (d)(4), (e)(1), (e)(2), (e)(4)(G), (e)(4)(H), (e)(5),
(e)(8), (f), and (g) of the Privacy Act pursuant to 5 U.S.C.
552a(j)(2), and (k)(2). See 31 CFR 1.36.
HISTORY:
None.
[FR Doc. 2023-19814 Filed 9-12-23; 8:45 am]
BILLING CODE 4810-02-P
