Mandatory Survey of Foreign-Residents' Holdings of U.S. Securities, 16622 [2024-04817]
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Federal Register / Vol. 89, No. 46 / Thursday, March 7, 2024 / Notices
particularly interested in comments
that:
• Evaluate whether the proposed
collection of information is necessary
for the proper performance of the
functions of the agency, including
whether the information will have
practical utility.
• Evaluate the accuracy of the
agency’s estimate of the burden of the
proposed collection of information,
including the validity of the
methodology and assumptions used.
• Enhance the quality, utility, and
clarity of the information to be
collected; and
• Minimize the burden of the
collection of information on those who
are to respond, including using
appropriate automated, electronic,
mechanical, or other technological
collection techniques or other forms of
information technology, e.g., by
permitting electronic submissions of
responses.
Comments submitted in response to
this notice will be summarized and/or
included in the ICR for OMB approval
of the extension of the information
collection; they will also become a
matter of public record.
Approved: March 4, 2024.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2024–04835 Filed 3–6–24; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Mandatory Survey of ForeignResidents’ Holdings of U.S. Securities
Departmental Offices,
Department of the Treasury.
ACTION: Notice of reporting
requirements.
AGENCY:
By this Notice, the
Department of the Treasury is informing
the public that it is conducting a
mandatory Survey of Foreign-Residents’
Holdings of U.S. Securities as of June
30, 2024. This Notice constitutes legal
notification to all United States persons
(defined below) who meet the reporting
requirements set forth in this Notice that
they must respond to, and comply with,
this survey. Additional copies of the
reporting forms SHL (2024) and
instructions may be printed from the
internet at: https://home.treasury.gov/
data/treasury-international-capital-ticsystem-home-page/tic-formsinstructions/forms-shl.
SUPPLEMENTARY INFORMATION:
Definition: A U.S. person is any
individual, branch, partnership,
khammond on DSKJM1Z7X2PROD with NOTICES
SUMMARY:
VerDate Sep<11>2014
16:13 Mar 06, 2024
Jkt 262001
associated group, association, estate,
trust, corporation, or other organization
(whether or not organized under the
laws of any State), or any government
(including a foreign government, the
United States Government, a State or
local government, or any agency,
corporation, financial institution, or
other entity or instrumentality thereof,
including a government-sponsored
agency), residing in the United States or
subject to the jurisdiction of the United
States.
Who Must Report: This mandatory
survey is conducted under the authority
of the International Investment and
Trade in Services Survey Act (22 U.S.C.
3101 et seq.) and in accordance with 31
CFR 129. The following U.S. persons
must report on this survey:
(1) U.S. persons who manage the
safekeeping of U.S. securities (as
specified below) for foreign persons.
These U.S. persons, who include the
affiliates in the United States of foreign
entities, and are henceforth referred to
as U.S. custodians, must report on this
survey if the total market value of the
U.S. securities whose safekeeping they
manage on behalf of foreign persons—
aggregated over all accounts and for all
U.S. branches and affiliates of their
firm—is $200 million or more as of June
30, 2024.
(2) U.S. persons who issue securities,
if the total market value of their
securities owned directly by foreign
persons—aggregated over all securities
issued by all U.S. subsidiaries and
affiliates of the firm, including
investment companies, trusts, and other
legal entities created by the firm—is
$200 million or more as of June 30,
2024. U.S. issuers should report only
foreign holdings of their securities that
are directly held for foreign residents,
i.e., where no U.S.-resident custodian or
central securities depository is used.
Securities held by U.S. nominees, such
as bank or broker custody departments,
should be considered to be U.S.-held
securities as far as the issuer is
concerned.
(3) U.S. persons who receive a letter
from the Federal Reserve Bank of New
York that requires the recipient of the
letter to file Schedule 1, even if the
recipient is under the exemption level
of $200 million and need only report
‘‘exempt’’ on Schedule 1.
What To Report: This report will
collect information on foreign resident
holdings of U.S. securities, including
equities, short-term debt securities
(including selected money market
instruments), and long-term debt
securities.
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Sfmt 9990
How To Report: Copies of the survey
forms and instructions, which contain
complete information on reporting
procedures and definitions, may be
obtained at the website address given
above in the Summary, or by contacting
the survey staff of the Federal Reserve
Bank of New York at (212) 720–6300 or
(646) 720–6300, email: SHLA.help@
ny.frb.org. The mailing address is:
Federal Reserve Bank of New York, Data
and Statistics Function, 6th Floor, 33
Liberty Street, New York, NY 10045–
0001. Inquiries can also be made to the
Federal Reserve Board of Governors, at
(202) 452–3476, or to Dwight Wolkow,
at (202) 622–1276, or by email:
comments2TIC@do.treas.gov.
When To Report: Data should be
submitted to the Federal Reserve Bank
of New York, acting as fiscal agent for
the Department of the Treasury, by
August 30, 2024.
Paperwork Reduction Act Notice: This
data collection has been approved by
the Office of Management and Budget
(OMB) in accordance with the
Paperwork Reduction Act and assigned
control number 1505–0123. An agency
may not conduct or sponsor, and a
person is not required to respond to, a
collection of information unless it
displays a valid control number
assigned by OMB. The estimated
average annual burden associated with
this collection of information is 321
hours per report for custodians of
securities (the burden varies widely and
we estimate 486 hours for the largest
custodians), 61 hours per report for
issuers of securities that have data to
report and are not custodians (we
estimate 110 hours for the largest
issuers), and 17 hours per report for
those who file as exempt in a
benchmark survey. Comments
concerning the accuracy of this burden
estimate and suggestions for reducing
this burden should be directed to the
Department of the Treasury, Office of
International Affairs, Attention:
Administrator, International Portfolio
Investment Data Reporting Systems,
Room 1050, Washington, DC 20220, or
by email: comments2TIC@do.treas.gov,
and to OMB, Attention: Desk Officer for
the Department of the Treasury, Office
of Information and Regulatory Affairs,
Washington, DC 20503.
Dwight Wolkow,
Administrator, International Portfolio
Investment Data Reporting Systems.
[FR Doc. 2024–04817 Filed 3–6–24; 8:45 am]
BILLING CODE 4810–AK–P
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07MRN1
Agencies
[Federal Register Volume 89, Number 46 (Thursday, March 7, 2024)]
[Notices]
[Page 16622]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-04817]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Mandatory Survey of Foreign-Residents' Holdings of U.S.
Securities
AGENCY: Departmental Offices, Department of the Treasury.
ACTION: Notice of reporting requirements.
-----------------------------------------------------------------------
SUMMARY: By this Notice, the Department of the Treasury is informing
the public that it is conducting a mandatory Survey of Foreign-
Residents' Holdings of U.S. Securities as of June 30, 2024. This Notice
constitutes legal notification to all United States persons (defined
below) who meet the reporting requirements set forth in this Notice
that they must respond to, and comply with, this survey. Additional
copies of the reporting forms SHL (2024) and instructions may be
printed from the internet at: https://home.treasury.gov/data/treasury-international-capital-tic-system-home-page/tic-forms-instructions/forms-shl.
SUPPLEMENTARY INFORMATION:
Definition: A U.S. person is any individual, branch, partnership,
associated group, association, estate, trust, corporation, or other
organization (whether or not organized under the laws of any State), or
any government (including a foreign government, the United States
Government, a State or local government, or any agency, corporation,
financial institution, or other entity or instrumentality thereof,
including a government-sponsored agency), residing in the United States
or subject to the jurisdiction of the United States.
Who Must Report: This mandatory survey is conducted under the
authority of the International Investment and Trade in Services Survey
Act (22 U.S.C. 3101 et seq.) and in accordance with 31 CFR 129. The
following U.S. persons must report on this survey:
(1) U.S. persons who manage the safekeeping of U.S. securities (as
specified below) for foreign persons. These U.S. persons, who include
the affiliates in the United States of foreign entities, and are
henceforth referred to as U.S. custodians, must report on this survey
if the total market value of the U.S. securities whose safekeeping they
manage on behalf of foreign persons--aggregated over all accounts and
for all U.S. branches and affiliates of their firm--is $200 million or
more as of June 30, 2024.
(2) U.S. persons who issue securities, if the total market value of
their securities owned directly by foreign persons--aggregated over all
securities issued by all U.S. subsidiaries and affiliates of the firm,
including investment companies, trusts, and other legal entities
created by the firm--is $200 million or more as of June 30, 2024. U.S.
issuers should report only foreign holdings of their securities that
are directly held for foreign residents, i.e., where no U.S.-resident
custodian or central securities depository is used. Securities held by
U.S. nominees, such as bank or broker custody departments, should be
considered to be U.S.-held securities as far as the issuer is
concerned.
(3) U.S. persons who receive a letter from the Federal Reserve Bank
of New York that requires the recipient of the letter to file Schedule
1, even if the recipient is under the exemption level of $200 million
and need only report ``exempt'' on Schedule 1.
What To Report: This report will collect information on foreign
resident holdings of U.S. securities, including equities, short-term
debt securities (including selected money market instruments), and
long-term debt securities.
How To Report: Copies of the survey forms and instructions, which
contain complete information on reporting procedures and definitions,
may be obtained at the website address given above in the Summary, or
by contacting the survey staff of the Federal Reserve Bank of New York
at (212) 720-6300 or (646) 720-6300, email: [email protected]. The
mailing address is: Federal Reserve Bank of New York, Data and
Statistics Function, 6th Floor, 33 Liberty Street, New York, NY 10045-
0001. Inquiries can also be made to the Federal Reserve Board of
Governors, at (202) 452-3476, or to Dwight Wolkow, at (202) 622-1276,
or by email: [email protected].
When To Report: Data should be submitted to the Federal Reserve
Bank of New York, acting as fiscal agent for the Department of the
Treasury, by August 30, 2024.
Paperwork Reduction Act Notice: This data collection has been
approved by the Office of Management and Budget (OMB) in accordance
with the Paperwork Reduction Act and assigned control number 1505-0123.
An agency may not conduct or sponsor, and a person is not required to
respond to, a collection of information unless it displays a valid
control number assigned by OMB. The estimated average annual burden
associated with this collection of information is 321 hours per report
for custodians of securities (the burden varies widely and we estimate
486 hours for the largest custodians), 61 hours per report for issuers
of securities that have data to report and are not custodians (we
estimate 110 hours for the largest issuers), and 17 hours per report
for those who file as exempt in a benchmark survey. Comments concerning
the accuracy of this burden estimate and suggestions for reducing this
burden should be directed to the Department of the Treasury, Office of
International Affairs, Attention: Administrator, International
Portfolio Investment Data Reporting Systems, Room 1050, Washington, DC
20220, or by email: [email protected], and to OMB, Attention:
Desk Officer for the Department of the Treasury, Office of Information
and Regulatory Affairs, Washington, DC 20503.
Dwight Wolkow,
Administrator, International Portfolio Investment Data Reporting
Systems.
[FR Doc. 2024-04817 Filed 3-6-24; 8:45 am]
BILLING CODE 4810-AK-P