Semiannual Agenda, 66858-66864 [2024-16461]
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66858
Federal Register / Vol. 89, No. 159 / Friday, August 16, 2024 / UA: Reg Flex Agenda
DEPARTMENT OF THE TREASURY
31 CFR Subtitles A and B
Semiannual Agenda
Department of the Treasury.
Semiannual Regulatory Agenda.
AGENCY:
ACTION:
This notice is given pursuant
to the requirements of the Regulatory
Flexibility Act and Executive Order
12866 (‘‘Regulatory Planning and
Review’’), as amended, which require
the publication by the Department of a
semiannual agenda of regulations.
FOR FURTHER INFORMATION CONTACT: The
Agency contact identified in the item
relating to that regulation.
SUPPLEMENTARY INFORMATION: The
semiannual regulatory agenda includes
SUMMARY:
regulations that the Department has
issued or expects to issue and rules
currently in effect that are under
departmental or bureau review.
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 available on the
internet.
The semiannual agenda of the
Department of the Treasury conforms to
the Unified Agenda format developed
by the Regulatory Information Service
Center (RISC).
Michael Briskin,
Deputy Assistant General Counsel for General
Law and Regulation.
FINANCIAL CRIMES ENFORCEMENT NETWORK—PROPOSED RULE STAGE
Regulation
Identifier No.
Sequence No.
Title
177 ....................
178 ....................
179 ....................
Section 6101. Establishment of National Exam and Supervision Priorities ....................................................
Revisions to Customer Due Diligence Requirements for Financial Institutions ..............................................
Investment Adviser Customer Identification Program Requirements for Registered Investment Advisers
and Exempt Reporting Advisers.
1506–AB52
1506–AB60
1506–AB66
FINANCIAL CRIMES ENFORCEMENT NETWORK—FINAL RULE STAGE
Regulation
Identifier No.
Sequence No.
Title
180 ....................
181 ....................
Residential Real Estate Transaction Reports and Records ............................................................................
Anti-Money Laundering Program and Suspicious Activity Report Filing Requirements for Investment Advisers.
1506–AB54
1506–AB58
FINANCIAL CRIMES ENFORCEMENT NETWORK—LONG-TERM ACTIONS
Regulation
Identifier No.
Sequence No.
Title
182 ....................
183 ....................
Amendments to the Definition of Broker or Dealer in Securities (Crowd Funding) ........................................
Clarification of the Requirement to Collect, Retain, and Transmit Information on Transactions Involving
Convertible Virtual Currencies and Digital Assets With Legal Tender Status.
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.
Commercial Real Estate Transaction Reports and Records ...........................................................................
184 ....................
185 ....................
186 ....................
1506–AB36
1506–AB41
1506–AB50
1506–AB51
1506–AB61
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FINANCIAL CRIMES ENFORCEMENT NETWORK—COMPLETED ACTIONS
Regulation
Identifier No.
Sequence No.
Title
187 ....................
188 ....................
Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets .................
Beneficial Ownership Information Access and Safeguards .............................................................................
1506–AB47
1506–AB59
CUSTOMS REVENUE FUNCTION—PROPOSED RULE STAGE
Regulation
Identifier No.
Sequence No.
Title
189 ....................
Entry of Low-Value Shipments ........................................................................................................................
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CUSTOMS REVENUE FUNCTION—FINAL RULE STAGE
Regulation
Identifier No.
Sequence No.
Title
190 ....................
Enforcement of Copyrights and the Digital Millennium Copyright Act ............................................................
1515–AE26
INTERNAL REVENUE SERVICE—PROPOSED RULE STAGE
Regulation
Identifier No.
Sequence No.
Title
191 ....................
Base erosion and anti-abuse tax (Section 610 Review) ................................................................................
1545–BR20
INTERNAL REVENUE SERVICE—FINAL RULE STAGE
Regulation
Identifier No.
Sequence No.
Title
192 ....................
Mental Health Parity and Addiction Equity Act and the Consolidated Appropriations Act, 2021 ...................
1545–BQ29
INTERNAL REVENUE SERVICE—COMPLETED ACTIONS
Sequence No.
193
194
195
196
197
....................
....................
....................
....................
....................
Section 30D Clean Vehicle Credit Regulations ...............................................................................................
Elective Payment of Applicable Credits Under Section 6417 .........................................................................
Transfer of Certain Credits Under Section 6418 .............................................................................................
Transfer Provisions of Sections 30D and 25E ................................................................................................
Section 30D Foreign Entity of Concern ...........................................................................................................
DEPARTMENT OF THE TREASURY
(TREAS)
Financial Crimes Enforcement Network
(FINCEN)
Proposed Rule Stage
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Legal Authority: 12 U.S.C. 1829b; 12
U.S.C. 1951 to 1960; 31 U.S.C. 5311 to
5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN intends to issue a
notice of proposed rulemaking as part of
the establishment of national exam and
supervision priorities. The proposed
rule implements section 6101(b) of the
Anti-Money Laundering Act of 2020
that requires the Secretary of the
Treasury to issue and promulgate rules
for financial institutions to carry out the
government-wide anti-money
laundering and countering the financing
of terrorism priorities (AML/CFT
Priorities). The proposed rule: (i)
incorporates a risk assessment
requirement for financial institutions;
(ii) requires financial institutions to
incorporate AML/CFT Priorities into
risk-based programs; and (iii) provides
for certain technical changes. Once
finalized, this proposed rule will affect
all financial institutions subject to
regulations under the Bank Secrecy Act
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that have AML/CFT program
obligations.
Timetable:
Action
Date
NPRM ..................
NPRM Comment
Period End.
177. Section 6101. Establishment of
National Exam and Supervision
Priorities [1506–AB52]
VerDate Sep<11>2014
Regulation
Identifier No.
Title
1545–BQ52
1545–BQ63
1545–BQ64
1545–BQ86
1545–BQ99
information reporting and access
requirements set out in the CTA.
Timetable:
FR Cite
07/00/24
09/00/24
Action
NPRM ..................
NPRM Comment
Period End.
Date
FR Cite
10/00/24
12/00/24
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
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–AB60
178. Revisions to Customer Due
Diligence Requirements for Financial
Institutions [1506–AB60]
Legal Authority: 12 U.S.C. 1829b; 12
U.S.C. 1951 to 1960; 31 U.S.C. 5311 to
5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN intends to issue a
notice of proposed rulemaking entitled
‘‘Revisions to Customer Due Diligence
Requirements for Financial
Institutions,’’ relating to Section 6403(d)
of the Corporate Transparency Act
(CTA). Section 6403(d) of the CTA
requires FinCEN to revise its customer
due diligence requirements for financial
institutions to account for the changes
created by the beneficial ownership
179. • Investment Adviser Customer
Identification Program Requirements
for Registered Investment Advisers and
Exempt Reporting Advisers [1506–
AB66]
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Legal Authority: 12 U.S.C. 1829b; 12
U.S.C. 1951 to 1960; 31 U.S.C. 5311 to
5314; 31 U.S.C. 5316 to 5336
Abstract: To apply customer
identification program requirements to
registered investment advisers and
exempt reporting advisers.
Timetable:
Action
NPRM ..................
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Date
05/21/24
FR Cite
89 FR 44571
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Action
Date
NPRM Comment
Period End.
Reviewing Comments.
FR Cite
07/22/24
08/00/24
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–AB66
DEPARTMENT OF THE TREASURY
(TREAS)
Financial Crimes Enforcement Network
(FINCEN)
Final Rule Stage
180. Residential Real Estate
Transaction Reports and Records
[1506–AB54]
Legal Authority: 12 U.S.C. 1829b; 12
U.S.C. 1951 to 1960; 31 U.S.C. 5311 to
5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN intends to issue a
final rule, proposed February 16, 2024,
to address money laundering
vulnerabilities in the residential real
estate sector. The proposed rule would
require certain persons involved in real
estate closings and settlements to report
non-financed transfers of residential real
property made to specified legal entities
or trusts.
Timetable:
Action
Date
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ANPRM ...............
ANPRM Comment
Period End.
NPRM ..................
NPRM Comment
Period End.
Final Action .........
FR Cite
12/08/21
02/07/22
86 FR 69589
02/16/24
04/16/24
89 FR 12424
08/00/24
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–AB54
181. Anti-Money Laundering Program
and Suspicious Activity Report Filing
Requirements for Investment Advisers
[1506–AB58]
Legal Authority: 12 U.S.C. 1829b; 12
U.S.C. 1951 to 1960; 31 U.S.C. 5311 to
5314; 31 U.S.C. 5316 to 5336
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Abstract: FinCEN intends to issue a
final rule, proposed February 15, 2024,
that would prescribe minimum
standards for anti-money laundering
programs to be established by certain
investment advisers and to require such
investment advisers to report suspicious
activity to FinCEN pursuant to the Bank
Secrecy Act.
Timetable:
Action
Date
NPRM ..................
NPRM Comment
Period End.
Final Action .........
02/15/24
04/15/24
FR Cite
89 FR 12108
08/00/24
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–AB58
DEPARTMENT OF THE TREASURY
(TREAS)
Financial Crimes Enforcement Network
(FINCEN)
Long-Term Actions
182. Amendments to the Definition of
Broker or Dealer in Securities (Crowd
Funding) [1506–AB36]
Legal Authority: 12 U.S.C. 1829b; 12
U.S.C. 1951 to 1960; 31 U.S.C. 5311 to
5314; 31 U.S.C. 5316 to 5336
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 involved in the
offering or selling of securities through
crowdfunding pursuant to section
4(a)(6) of the Securities Act of 1933. 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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Action
NPRM ..................
NPRM Comment
Period End.
Final Action .........
Date
04/04/16
06/03/16
FR Cite
81 FR 19086
To Be Determined
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: FinCEN Regulatory
Support Section, Phone: 800 767–2825,
Email: frc@fincen.gov.
RIN: 1506–AB36
183. Clarification of the Requirement
To Collect, Retain, and Transmit
Information on Transactions Involving
Convertible Virtual Currencies and
Digital Assets With Legal Tender Status
[1506–AB41]
Legal Authority: 12 U.S.C. 1829b; 12
U.S.C. 1951 to 1960; 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
NPRM ..................
NPRM Comment
Period End.
Second NPRM ....
Second NPRM
Comment Period End.
Date
10/27/20
11/27/20
FR Cite
85 FR 68005
07/00/25
09/00/25
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: FinCEN Regulatory
Support Section, Phone: 800 767–2825,
Email: frc@fincen.gov.
RIN: 1506–AB41
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184. Section 6110. Bank Secrecy Act
Application to Dealers in Antiquities
and Assessment of Bank Secrecy Act
Application to Dealers in Arts [1506–
AB50]
Action
NPRM ..................
NPRM Comment
Period End.
Legal Authority: 12 U.S.C. 1829b; 12
U.S.C. 1951 to 1960; 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 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
Date
ANPRM ...............
ANPRM Comment
Period End.
NPRM ..................
09/24/21
10/25/21
FR Cite
86 FR 53021
To Be Determined
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: FinCEN Regulatory
Support Section, Phone: 800 767–2825,
Email: frc@fincen.gov.
RIN: 1506–AB50
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185. Section 6212. Pilot Program on
Sharing of Information Related to
Suspicious Activity Reports Within a
Financial Group [1506–AB51]
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03/28/22
FR Cite
87 FR 3719
Final Rule ............
186. Commercial Real Estate
Transaction Reports and Records
[1506–AB61]
Legal Authority: 12 U.S.C. 1829b; 12
U.S.C. 1951 to 1960; 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
address money laundering
vulnerabilities in the U.S. commercial
real estate sector.
Timetable:
Action
Date
FR Cite
12/00/25
02/00/26
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: FinCEN Regulatory
Support Section, Phone: 800 767–2825,
Email: frc@fincen.gov.
RIN: 1506–AB61
DEPARTMENT OF THE TREASURY
(TREAS)
Completed Actions
187. Requirements for Certain
Transactions Involving Convertible
Virtual Currency or Digital Assets
[1506–AB47]
Legal Authority: 12 U.S.C. 1829b; 12
U.S.C. 1951 to 1960; 31 U.S.C. 5311 to
5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN is amending 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.
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Reason
Date
FR Cite
04/12/24
04/12/24
To Be Determined
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: FinCEN Regulatory
Support Section, Phone: 800 767–2825,
Email: frc@fincen.gov.
RIN: 1506–AB51
NPRM ..................
NPRM Comment
Period End.
Completed:
Withdrawn ...........
Withdrawn ...........
Financial Crimes Enforcement Network
(FINCEN)
Legal Authority: 12 U.S.C. 1829b; 12
U.S.C. 1951 to 1960; 31 U.S.C. 5311 to
5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN intends to issue a
Final Rule 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:
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Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: FinCEN Regulatory
Support Section, Phone: 800 767–2825,
Email: frc@fincen.gov.
RIN: 1506–AB47
188. Beneficial Ownership Information
Access and Safeguards [1506–AB59]
Legal Authority: 12 U.S.C. 1829b; 12
U.S.C. 1951 to 1960; 31 U.S.C. 5311 to
5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN issued a final rule
entitled ‘‘Beneficial Ownership
Information Access and Safeguards’’ on
December 22, 2023. The final rule
establishes protocols to protect the
security and confidentiality of the
beneficial ownership information (BOI)
reported to FinCEN pursuant to the
Bank Secrecy Act, as amended by
Section 6403(a) of the Corporate
Transparency Act, and establishes the
framework for authorized recipients’
access to the BOI reported.
Completed:
Reason
Final Action .........
Date
12/22/23
FR Cite
88 FR 88732
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: FinCEN Regulatory
Support Section, Phone: 800 767–2825,
Email: frc@fincen.gov.
RIN: 1506–AB59
DEPARTMENT OF THE TREASURY
(TREAS)
Customs Revenue Function (CUSTOMS)
Proposed Rule Stage
189. Entry of Low-Value Shipments
[1515–AE84]
Legal Authority: 19 U.S.C. 1321
Abstract: This document proposes
amendments to the U.S. Customs and
Border Protection (CBP) regulations
pertaining to the entry of certain lowvalue shipments not exceeding $800
that are eligible for an administrative
exemption from duty and tax.
Specifically, CBP proposes to create a
new process for entering low-value
shipments, allowing CBP to target highrisk shipments more effectively,
including those containing synthetic
opioids such as fentanyl. This document
also proposes to revise the current
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process for entering low-value
shipments to require additional data
elements that would assist CBP in
verifying eligibility for duty- and taxfree entry of low-value shipments and
bona-fide gifts.
Timetable:
Action
Date
NPRM ..................
DEPARTMENT OF THE TREASURY
(TREAS)
Internal Revenue Service (IRS)
Proposed Rule Stage
191. • Base Erosion and Anti-Abuse
Tax (Section 610 Review) [1545–BR20]
FR Cite
07/00/24
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: Christopher
Mabelitini, Director, Intellectual
Property Rights & E-Commerce Division,
Department of the Treasury, Customs
Revenue Function, 1300 Pennsylvania
Avenue NW, Washington, DC 20229,
Phone: 202 325–6915.
RIN: 1515–AE84
DEPARTMENT OF THE TREASURY
(TREAS)
Customs Revenue Function (CUSTOMS)
Final Rule Stage
190. Enforcement of Copyrights and the
Digital Millennium Copyright Act
[1515–AE26]
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
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NPRM ..................
NPRM Comment
Period End.
Final Rule ............
10/16/19
12/16/19
FR Cite
84 FR 55251
07/00/24
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
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Legal Authority: 26 U.S.C. 59A
Abstract: These regulations provide
guidance under section 59A regarding
the base erosion and anti-abuse tax,
including guidance regarding reporting
of qualified derivatives payments.
Timetable:
Action
Date
NPRM ..................
FR Cite
DEPARTMENT OF THE TREASURY
(TREAS)
Internal Revenue Service (IRS)
Final Rule Stage
192. Mental Health Parity and
Addiction Equity Act and the
Consolidated Appropriations Act, 2021
[1545–BQ29]
Legal Authority: 26 U.S.C. 7805; Pub.
L. 116–260, Division BB, Title II; Pub.
L. 110–343, secs. 511–512
Abstract: This rule would finalize
proposed amendments to the final rules
implementing the Mental Health Parity
and Addiction Equity Act (MHPAEA).
The amendments clarify plans’ and
issuers’ obligations under the law,
promote compliance with MHPAEA,
and update requirements to take into
account experience with MHPAEA in
the years since the rules were finalized.
The rule would also finalize new
regulations implementing amendments
to MHPAEA recently enacted as part of
the Consolidated Appropriations Act,
2021 (CAA, 2021).
Timetable:
Action
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NPRM Comment
Period Extended End.
Final Action .........
Date
FR Cite
10/17/23
07/00/24
Regulatory Flexibility Analysis
Required: Yes
Agency Contact: Shira McKinlay,
Senior Counsel (Tax), Department of the
Treasury, Internal Revenue Service,
1111 Constitution Avenue NW, Room
5702, Washington, DC 20224, Phone:
202 317–5256, Email: shira.b.mckinlay@
irscounsel.treas.gov.
RIN: 1545–BQ29
11/00/24
Regulatory Flexibility Analysis
Required: No
Agency Contact: Sheila Ramaswamy,
Attorney-Advisor, Department of the
Treasury, Internal Revenue Service,
1111 Constitution Avenue NW,
Washington, DC 20224, Phone: 202 317–
6938, Fax: 202 317–4922, Email:
sheila.n.ramaswamy@
irscounsel.treas.gov.
RIN: 1545–BR20
Date
NPRM ..................
NPRM Comment
Period Extended.
Action
08/03/23
09/28/23
Fmt 4701
FR Cite
88 FR 51552
88 FR 66728
Sfmt 4702
DEPARTMENT OF THE TREASURY
(TREAS)
Internal Revenue Service (IRS)
Completed Actions
193. Section 30D Clean Vehicle Credit
Regulations [1545–BQ52]
Legal Authority: 26 U.S.C. 7805; 26
U.S.C. 30D
Abstract: Section 13401 of the IRA
amends 30D(b) of the Code to, among
other things, provide a maximum credit
of $7,500 per vehicle, consisting of
$3,750 in the case of a vehicle that
meets certain critical minerals
requirements and $3,750 in the case of
a vehicle that meets certain battery
components requirements. In general,
vehicles may satisfy the critical
minerals and battery components
requirements if a required percentage of
the value of the critical minerals or
battery components in the vehicle’s
battery are sourced from a location
specified by statute. The critical
minerals and battery components
requirements are applicable to vehicles
placed in service after the date on which
the Secretary of the Treasury or her
delegate issues proposed guidance
relating to these new requirements. The
proposed regulations provide clarity to
taxpayers and vehicle manufacturers on
the critical minerals and battery
components requirements. These
clarifications include definitions of
terms such as ‘‘extracted,’’ ‘‘processed,’’
‘‘recycled,’’ and ‘‘free trade agreement.’’
The proposed regulations also clarify
the rules for determining whether a
critical mineral was extracted,
processed, or recycled or a battery
component was manufactured or
assembled in a location that satisfies
these requirements. The proposed
regulations also provide guidance on
how vehicle manufacturers may
determine compliance with these
requirements for their vehicles. The
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proposed regulations also clarify the
definition of certain terms relevant to
new requirements for the new clean
vehicle credit. These clarifications
include definitions of terms such as
‘‘final assembly,’’ ‘‘North America,’’
‘‘manufacturer’s suggested retail price,’’
and ‘‘placed in service.’’ These
proposed regulations also clarify the
vehicles that are considered vans, sport
utility vehicles, pickup trucks, or other
vehicles for purposes of applying new
manufacturer’s suggested retail price
limitations added by the IRA. The
expected definitions were published in
IRS Notice 2023–1, as modified by IRS
Notice 2023–16.
Completed:
Reason
Date
Public Hearing .....
Final Action .........
Final Action Effective.
01/31/24
05/06/24
07/05/24
FR Cite
89 FR 1858
89 FR 37706
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: Maggie M. Stehn,
Phone: 202 317–4547, Fax: 202 317–
7868, Email: maggie.m.stehn@
irscounsel.treas.gov.
Rika Valdman, Phone: 202 317–5227,
Fax: 202 317–7868, Email:
rika.valdman@irscounsel.treas.gov.
RIN: 1545–BQ52
194. Elective Payment of Applicable
Credits Under Section 6417 [1545–
BQ63]
Legal Authority: 26 U.S.C. 7805; 26
U.S.C. 6417(h)
Abstract: Final regulations regarding
the elective payment of applicable
credits under section 6417 established
by section 13801(a) of the Inflation
Reduction Act of 2022.
Completed:
Reason
Date
13801(b) of the Inflation Reduction Act
of 2022.
Completed:
Reason
Date
Final Action .........
Final Action Effective.
04/30/24
07/01/24
196. Transfer Provisions of Sections
30D and 25E [1545–BQ86]
Legal Authority: 26 U.S.C. 25E; 26
U.S.C. 30D; 26 U.S.C. 6213; 26 U.S.C.
7805
Abstract: Section 30D calls for the
establishment of regulations for several
purposes. One of those provisions is in
Section 30D(g)(1) which provides that
subject to regulations or other guidance
as the Secretary determines necessary, if
the taxpayer who acquires a new clean
vehicle elects the application of section
30D(g) with respect to such vehicle, the
credit which would otherwise be
allowed to such taxpayer with respect to
such vehicle shall be allowed to the
eligible entity in such election, and not
to such taxpayer. Section 25E(f)
provides that Rules similar to the rules
of section 30D(g) shall apply.
On October 5, 2022, Notice 2022–46
was published in I.R.B. 2022–43,
requesting comments regarding sections
30D and 25E.
On December 8, 2022, Revenue
Procedure 2022–42 was published in
I.R.B. 2022–52, providing procedures,
inter alia, for seller’s reports relating to
the sale of clean vehicles.
Completed:
FR Cite
lotter on DSK11XQN23PROD with PROPOSALS12
03/11/24
89 FR 17546
04/16/24
89 FR 26786
Regulatory Flexibility Analysis
Required: Yes
Agency Contact: Jeremy A. Milton,
Phone: 202 317–5665, Fax: 855 591–
7865, Email: jeremy.a.milton@
irscounsel.treas.gov.
RIN: 1545–BQ63
195. Transfer of Certain Credits Under
Section 6418 [1545–BQ64]
Legal Authority: 26 U.S.C. 7805; 26
U.S.C. 6418(h)
Abstract: Final regulations regarding
the transfer of certain credits under
section 6418 established by section
VerDate Sep<11>2014
22:10 Aug 15, 2024
89 FR 34770
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: Jeremy A. Milton,
Phone: 202 317–5665, Fax: 855 591–
7865, Email: jeremy.a.milton@
irscounsel.treas.gov.
RIN: 1545–BQ64
Reason
Final Action (TD
9988).
Correction ............
FR Cite
Jkt 250001
Date
NPRM ..................
Public Hearing .....
Final Action .........
10/10/23
01/31/24
05/06/24
FR Cite
88 FR 70310
89 FR 37706
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: Rika Valdman,
Phone: 202 317–5227, Fax: 202 317–
7868, Email: rika.valdman@
irscounsel.treas.gov.
RIN: 1545–BQ86
197. • Section 30D Foreign Entity of
Concern [1545–BQ99]
Legal Authority: 26 U.S.C. 30D; 26
U.S.C. 7805
Abstract: Section 30D calls for the
establishment of regulations for several
PO 00000
Frm 00007
Fmt 4701
Sfmt 4702
66863
purposes. One of those provisions is in
section 30D(e)(3), which provides that
the Secretary shall issue regulations or
other guidance as the Secretary
determines necessary to carry out the
purposes of section 30D(e) regarding the
critical mineral and battery component
requirements, including regulations or
other guidance which provides for the
requirements for recordkeeping or
information reporting for purposes of
administering the requirements of
section 30D(e). Section 30D(e)(1)(B) and
30D(e)(2)(B) provide applicable
percentage requirements for critical
minerals and battery components,
respectively, for vehicles placed in
service during various tax years,
beginning with vehicles placed in
service before January 1, 2024.
Section 30D(d)(7) provides that for
purposes of this section, the term new
clean vehicle shall not include: (1) any
vehicle placed in service after December
31, 2024, with respect to which any of
the applicable critical minerals
contained in the battery of such vehicle
(as described in section 30D(e)(1)(A))
were extracted, processed, or recycled
by a foreign entity of concern (as
defined in section 40207(a)(5) of the
Infrastructure Investment and Jobs Act
(42 U.S.C. 18741(a)(5))), or any vehicle
placed in service after December 31,
2023, with respect to which any of the
components contained in the battery of
such vehicle (as described in section
30D(e)(2)(A)) were manufactured or
assembled by a foreign entity of concern
(as so defined).
On April 17, 2023, proposed
regulations were published in the
Federal Register, 88 FR 23370, which
provided proposed definitions for
certain terms related to section 30D,
proposed rules regarding personal and
business use and other special rules,
and additional proposed rules related to
the critical mineral and battery
component requirements.
The Internal Revenue Service and
Department of Treasury intend to
publish proposed regulations and a
revenue procedure regarding vehicle
transfer elections provided for in
sections 25E(f) and 30D(g). As of the
date of preparing this RIN request, such
proposed regulations and revenue
procedure have not yet been published.
These proposed regulations will
provide guidance regarding foreign
entity of concern for purposes of section
30D(d)(7).
Timetable:
Action
NPRM ..................
E:\FR\FM\16AUP13.SGM
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Date
12/04/23
FR Cite
88 FR 84098
66864
Federal Register / Vol. 89, No. 159 / Friday, August 16, 2024 / UA: Reg Flex Agenda
Action
Date
lotter on DSK11XQN23PROD with PROPOSALS12
NPRM Comment
Period End.
Public Hearing .....
Final Action .........
VerDate Sep<11>2014
FR Cite
01/18/24
01/31/24
05/06/24
22:10 Aug 15, 2024
89 FR 37706
Jkt 250001
Regulatory Flexibility Analysis
Required: Yes.
Agency Contact: Rika Valdman,
Senior Technician Reviewer,
Department of the Treasury, Internal
Revenue Service, 1111 Constitution
Avenue NW, Room 5112, Washington,
PO 00000
Frm 00008
Fmt 4701
Sfmt 9990
DC 20224, Phone: 202 317–5227, Fax:
202 317–7868, Email: rika.valdman@
irscounsel.treas.gov.
RIN: 1545–BQ99
[FR Doc. 2024–16461 Filed 8–15–24; 8:45 am]
BILLING CODE 4810–01–P; 4810–02–P; 9111–14–P
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]]>Agencies
[Federal Register Volume 89, Number 159 (Friday, August 16, 2024)]
[Unknown Section]
[Pages 66858-66864]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-16461]
[[Page 66857]]
Vol. 89
Friday,
No. 159
August 16, 2024
Part XIII
Department of the Treasury
-----------------------------------------------------------------------
Semiannual Regulatory Agenda
Federal Register / Vol. 89 , No. 159 / Friday, August 16, 2024 / UA:
Reg Flex Agenda
[[Page 66858]]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
31 CFR Subtitles A and B
Semiannual Agenda
AGENCY: Department of the Treasury.
ACTION: Semiannual Regulatory Agenda.
-----------------------------------------------------------------------
SUMMARY: This notice is given pursuant to the requirements of the
Regulatory Flexibility Act and Executive Order 12866 (``Regulatory
Planning and Review''), as amended, which require the publication by
the Department of a semiannual agenda of regulations.
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.
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 available on the internet.
The semiannual agenda of the Department of the Treasury conforms to
the Unified Agenda format developed by the Regulatory Information
Service Center (RISC).
Michael Briskin,
Deputy Assistant General Counsel for General Law and Regulation.
Financial Crimes Enforcement Network--Proposed Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
177....................... Section 6101. 1506-AB52
Establishment of National
Exam and Supervision
Priorities.
178....................... Revisions to Customer Due 1506-AB60
Diligence Requirements
for Financial
Institutions.
179....................... Investment Adviser 1506-AB66
Customer Identification
Program Requirements for
Registered Investment
Advisers and Exempt
Reporting Advisers.
------------------------------------------------------------------------
Financial Crimes Enforcement Network--Final Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
180....................... Residential Real Estate 1506-AB54
Transaction Reports and
Records.
181....................... Anti-Money Laundering 1506-AB58
Program and Suspicious
Activity Report Filing
Requirements for
Investment Advisers.
------------------------------------------------------------------------
Financial Crimes Enforcement Network--Long-Term Actions
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
182....................... Amendments to the 1506-AB36
Definition of Broker or
Dealer in Securities
(Crowd Funding).
183....................... 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.
184....................... Section 6110. Bank Secrecy 1506-AB50
Act Application to
Dealers in Antiquities
and Assessment of Bank
Secrecy Act Application
to Dealers in Arts.
185....................... Section 6212. Pilot 1506-AB51
Program on Sharing of
Information Related to
Suspicious Activity
Reports Within a
Financial Group.
186....................... Commercial Real Estate 1506-AB61
Transaction Reports and
Records.
------------------------------------------------------------------------
Financial Crimes Enforcement Network--Completed Actions
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
187....................... Requirements for Certain 1506-AB47
Transactions Involving
Convertible Virtual
Currency or Digital
Assets.
188....................... Beneficial Ownership 1506-AB59
Information Access and
Safeguards.
------------------------------------------------------------------------
Customs Revenue Function--Proposed Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
189....................... Entry of Low-Value 1515-AE84
Shipments.
------------------------------------------------------------------------
[[Page 66859]]
Customs Revenue Function--Final Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
190....................... Enforcement of Copyrights 1515-AE26
and the Digital
Millennium Copyright Act.
------------------------------------------------------------------------
Internal Revenue Service--Proposed Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
191....................... Base erosion and anti- 1545-BR20
abuse tax (Section 610
Review).
------------------------------------------------------------------------
Internal Revenue Service--Final Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
192....................... Mental Health Parity and 1545-BQ29
Addiction Equity Act and
the Consolidated
Appropriations Act, 2021.
------------------------------------------------------------------------
Internal Revenue Service--Completed Actions
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
193....................... Section 30D Clean Vehicle 1545-BQ52
Credit Regulations.
194....................... Elective Payment of 1545-BQ63
Applicable Credits Under
Section 6417.
195....................... Transfer of Certain 1545-BQ64
Credits Under Section
6418.
196....................... Transfer Provisions of 1545-BQ86
Sections 30D and 25E.
197....................... Section 30D Foreign Entity 1545-BQ99
of Concern.
------------------------------------------------------------------------
DEPARTMENT OF THE TREASURY (TREAS)
Financial Crimes Enforcement Network (FINCEN)
Proposed Rule Stage
177. Section 6101. Establishment of National Exam and Supervision
Priorities [1506-AB52]
Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1960; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN intends to issue a notice of proposed rulemaking
as part of the establishment of national exam and supervision
priorities. The proposed rule implements section 6101(b) of the Anti-
Money Laundering Act of 2020 that requires the Secretary of the
Treasury to issue and promulgate rules for financial institutions to
carry out the government-wide anti-money laundering and countering the
financing of terrorism priorities (AML/CFT Priorities). The proposed
rule: (i) incorporates a risk assessment requirement for financial
institutions; (ii) requires financial institutions to incorporate AML/
CFT Priorities into risk-based programs; and (iii) provides for certain
technical changes. Once finalized, this proposed rule will affect all
financial institutions subject to regulations under the Bank Secrecy
Act that have AML/CFT program obligations.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 07/00/24 .......................
NPRM Comment Period End............. 09/00/24 .......................
------------------------------------------------------------------------
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
178. Revisions to Customer Due Diligence Requirements for Financial
Institutions [1506-AB60]
Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1960; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN intends to issue a notice of proposed rulemaking
entitled ``Revisions to Customer Due Diligence Requirements for
Financial Institutions,'' relating to Section 6403(d) of the Corporate
Transparency Act (CTA). Section 6403(d) of the CTA requires FinCEN to
revise its customer due diligence requirements for financial
institutions to account for the changes created by the beneficial
ownership information reporting and access requirements set out in the
CTA.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 10/00/24 .......................
NPRM Comment Period End............. 12/00/24 .......................
------------------------------------------------------------------------
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-AB60
179. Investment Adviser Customer Identification Program
Requirements for Registered Investment Advisers and Exempt Reporting
Advisers [1506-AB66]
Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1960; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: To apply customer identification program requirements to
registered investment advisers and exempt reporting advisers.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 05/21/24 89 FR 44571
[[Page 66860]]
NPRM Comment Period End............. 07/22/24 .......................
Reviewing Comments.................. 08/00/24 .......................
------------------------------------------------------------------------
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-AB66
DEPARTMENT OF THE TREASURY (TREAS)
Financial Crimes Enforcement Network (FINCEN)
Final Rule Stage
180. Residential Real Estate Transaction Reports and Records [1506-
AB54]
Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1960; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN intends to issue a final rule, proposed February
16, 2024, to address money laundering vulnerabilities in the
residential real estate sector. The proposed rule would require certain
persons involved in real estate closings and settlements to report non-
financed transfers of residential real property made to specified legal
entities or trusts.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
ANPRM............................... 12/08/21 86 FR 69589
ANPRM Comment Period End............ 02/07/22 .......................
NPRM................................ 02/16/24 89 FR 12424
NPRM Comment Period End............. 04/16/24 .......................
Final Action........................ 08/00/24 .......................
------------------------------------------------------------------------
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-AB54
181. Anti-Money Laundering Program and Suspicious Activity Report
Filing Requirements for Investment Advisers [1506-AB58]
Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1960; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN intends to issue a final rule, proposed February
15, 2024, that would prescribe minimum standards for anti-money
laundering programs to be established by certain investment advisers
and to require such investment advisers to report suspicious activity
to FinCEN pursuant to the Bank Secrecy Act.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 02/15/24 89 FR 12108
NPRM Comment Period End............. 04/15/24 .......................
Final Action........................ 08/00/24 .......................
------------------------------------------------------------------------
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-AB58
DEPARTMENT OF THE TREASURY (TREAS)
Financial Crimes Enforcement Network (FINCEN)
Long-Term Actions
182. Amendments to the Definition of Broker or Dealer in Securities
(Crowd Funding) [1506-AB36]
Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1960; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
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
involved in the offering or selling of securities through crowdfunding
pursuant to section 4(a)(6) of the Securities Act of 1933. 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........................ To Be Determined
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Phone: 800 767-
2825, Email: [email protected].
RIN: 1506-AB36
183. Clarification of the Requirement To Collect, Retain, and Transmit
Information on Transactions Involving Convertible Virtual Currencies
and Digital Assets With Legal Tender Status [1506-AB41]
Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1960; 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......................... 07/00/25 .......................
Second NPRM Comment Period End...... 09/00/25 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Phone: 800 767-
2825, Email: [email protected].
RIN: 1506-AB41
[[Page 66861]]
184. Section 6110. Bank Secrecy Act Application to Dealers in
Antiquities and Assessment of Bank Secrecy Act Application to Dealers
in Arts [1506-AB50]
Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1960; 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 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................................ To Be Determined
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Phone: 800 767-
2825, Email: [email protected].
RIN: 1506-AB50
185. Section 6212. Pilot Program on Sharing of Information Related to
Suspicious Activity Reports Within a Financial Group [1506-AB51]
Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1960; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN intends to issue a Final Rule 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................................ 01/25/22 87 FR 3719
NPRM Comment Period End............. 03/28/22 .......................
-----------------------------------
Final Rule.......................... To Be Determined
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Phone: 800 767-
2825, Email: [email protected].
RIN: 1506-AB51
186. Commercial Real Estate Transaction Reports and Records [1506-AB61]
Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1960; 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 address money laundering vulnerabilities in the U.S. commercial real
estate sector.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 12/00/25 .......................
NPRM Comment Period End............. 02/00/26 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Phone: 800 767-
2825, Email: [email protected].
RIN: 1506-AB61
DEPARTMENT OF THE TREASURY (TREAS)
Financial Crimes Enforcement Network (FINCEN)
Completed Actions
187. Requirements for Certain Transactions Involving Convertible
Virtual Currency or Digital Assets [1506-AB47]
Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1960; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN is amending 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.
Completed:
------------------------------------------------------------------------
Reason Date FR Cite
------------------------------------------------------------------------
Withdrawn........................... 04/12/24 .......................
Withdrawn........................... 04/12/24 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Phone: 800 767-
2825, Email: [email protected].
RIN: 1506-AB47
188. Beneficial Ownership Information Access and Safeguards [1506-AB59]
Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1960; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN issued a final rule entitled ``Beneficial
Ownership Information Access and Safeguards'' on December 22, 2023. The
final rule establishes protocols to protect the security and
confidentiality of the beneficial ownership information (BOI) reported
to FinCEN pursuant to the Bank Secrecy Act, as amended by Section
6403(a) of the Corporate Transparency Act, and establishes the
framework for authorized recipients' access to the BOI reported.
Completed:
------------------------------------------------------------------------
Reason Date FR Cite
------------------------------------------------------------------------
Final Action........................ 12/22/23 88 FR 88732
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Phone: 800 767-
2825, Email: [email protected].
RIN: 1506-AB59
DEPARTMENT OF THE TREASURY (TREAS)
Customs Revenue Function (CUSTOMS)
Proposed Rule Stage
189. Entry of Low-Value Shipments [1515-AE84]
Legal Authority: 19 U.S.C. 1321
Abstract: This document proposes amendments to the U.S. Customs and
Border Protection (CBP) regulations pertaining to the entry of certain
low-value shipments not exceeding $800 that are eligible for an
administrative exemption from duty and tax. Specifically, CBP proposes
to create a new process for entering low-value shipments, allowing CBP
to target high-risk shipments more effectively, including those
containing synthetic opioids such as fentanyl. This document also
proposes to revise the current
[[Page 66862]]
process for entering low-value shipments to require additional data
elements that would assist CBP in verifying eligibility for duty- and
tax-free entry of low-value shipments and bona-fide gifts.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 07/00/24 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Christopher Mabelitini, Director, Intellectual
Property Rights & E-Commerce Division, Department of the Treasury,
Customs Revenue Function, 1300 Pennsylvania Avenue NW, Washington, DC
20229, Phone: 202 325-6915.
RIN: 1515-AE84
DEPARTMENT OF THE TREASURY (TREAS)
Customs Revenue Function (CUSTOMS)
Final Rule Stage
190. Enforcement of Copyrights and the Digital Millennium Copyright Act
[1515-AE26]
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.......................... 07/00/24 .......................
------------------------------------------------------------------------
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
DEPARTMENT OF THE TREASURY (TREAS)
Internal Revenue Service (IRS)
Proposed Rule Stage
191. Base Erosion and Anti-Abuse Tax (Section 610 Review)
[1545-BR20]
Legal Authority: 26 U.S.C. 59A
Abstract: These regulations provide guidance under section 59A
regarding the base erosion and anti-abuse tax, including guidance
regarding reporting of qualified derivatives payments.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 11/00/24 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: No
Agency Contact: Sheila Ramaswamy, Attorney-Advisor, Department of
the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW,
Washington, DC 20224, Phone: 202 317-6938, Fax: 202 317-4922, Email:
[email protected].
RIN: 1545-BR20
DEPARTMENT OF THE TREASURY (TREAS)
Internal Revenue Service (IRS)
Final Rule Stage
192. Mental Health Parity and Addiction Equity Act and the Consolidated
Appropriations Act, 2021 [1545-BQ29]
Legal Authority: 26 U.S.C. 7805; Pub. L. 116-260, Division BB,
Title II; Pub. L. 110-343, secs. 511-512
Abstract: This rule would finalize proposed amendments to the final
rules implementing the Mental Health Parity and Addiction Equity Act
(MHPAEA). The amendments clarify plans' and issuers' obligations under
the law, promote compliance with MHPAEA, and update requirements to
take into account experience with MHPAEA in the years since the rules
were finalized. The rule would also finalize new regulations
implementing amendments to MHPAEA recently enacted as part of the
Consolidated Appropriations Act, 2021 (CAA, 2021).
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 08/03/23 88 FR 51552
NPRM Comment Period Extended........ 09/28/23 88 FR 66728
NPRM Comment Period Extended End.... 10/17/23 .......................
Final Action........................ 07/00/24 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Shira McKinlay, Senior Counsel (Tax), Department of
the Treasury, Internal Revenue Service, 1111 Constitution Avenue NW,
Room 5702, Washington, DC 20224, Phone: 202 317-5256, Email:
[email protected].
RIN: 1545-BQ29
DEPARTMENT OF THE TREASURY (TREAS)
Internal Revenue Service (IRS)
Completed Actions
193. Section 30D Clean Vehicle Credit Regulations [1545-BQ52]
Legal Authority: 26 U.S.C. 7805; 26 U.S.C. 30D
Abstract: Section 13401 of the IRA amends 30D(b) of the Code to,
among other things, provide a maximum credit of $7,500 per vehicle,
consisting of $3,750 in the case of a vehicle that meets certain
critical minerals requirements and $3,750 in the case of a vehicle that
meets certain battery components requirements. In general, vehicles may
satisfy the critical minerals and battery components requirements if a
required percentage of the value of the critical minerals or battery
components in the vehicle's battery are sourced from a location
specified by statute. The critical minerals and battery components
requirements are applicable to vehicles placed in service after the
date on which the Secretary of the Treasury or her delegate issues
proposed guidance relating to these new requirements. The proposed
regulations provide clarity to taxpayers and vehicle manufacturers on
the critical minerals and battery components requirements. These
clarifications include definitions of terms such as ``extracted,''
``processed,'' ``recycled,'' and ``free trade agreement.'' The proposed
regulations also clarify the rules for determining whether a critical
mineral was extracted, processed, or recycled or a battery component
was manufactured or assembled in a location that satisfies these
requirements. The proposed regulations also provide guidance on how
vehicle manufacturers may determine compliance with these requirements
for their vehicles. The
[[Page 66863]]
proposed regulations also clarify the definition of certain terms
relevant to new requirements for the new clean vehicle credit. These
clarifications include definitions of terms such as ``final assembly,''
``North America,'' ``manufacturer's suggested retail price,'' and
``placed in service.'' These proposed regulations also clarify the
vehicles that are considered vans, sport utility vehicles, pickup
trucks, or other vehicles for purposes of applying new manufacturer's
suggested retail price limitations added by the IRA. The expected
definitions were published in IRS Notice 2023-1, as modified by IRS
Notice 2023-16.
Completed:
------------------------------------------------------------------------
Reason Date FR Cite
------------------------------------------------------------------------
Public Hearing...................... 01/31/24 89 FR 1858
Final Action........................ 05/06/24 89 FR 37706
Final Action Effective.............. 07/05/24 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Maggie M. Stehn, Phone: 202 317-4547, Fax: 202 317-
7868, Email: [email protected].
Rika Valdman, Phone: 202 317-5227, Fax: 202 317-7868, Email:
[email protected].
RIN: 1545-BQ52
194. Elective Payment of Applicable Credits Under Section 6417 [1545-
BQ63]
Legal Authority: 26 U.S.C. 7805; 26 U.S.C. 6417(h)
Abstract: Final regulations regarding the elective payment of
applicable credits under section 6417 established by section 13801(a)
of the Inflation Reduction Act of 2022.
Completed:
------------------------------------------------------------------------
Reason Date FR Cite
------------------------------------------------------------------------
Final Action (TD 9988).............. 03/11/24 89 FR 17546
Correction.......................... 04/16/24 89 FR 26786
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes
Agency Contact: Jeremy A. Milton, Phone: 202 317-5665, Fax: 855
591-7865, Email: [email protected].
RIN: 1545-BQ63
195. Transfer of Certain Credits Under Section 6418 [1545-BQ64]
Legal Authority: 26 U.S.C. 7805; 26 U.S.C. 6418(h)
Abstract: Final regulations regarding the transfer of certain
credits under section 6418 established by section 13801(b) of the
Inflation Reduction Act of 2022.
Completed:
------------------------------------------------------------------------
Reason Date FR Cite
------------------------------------------------------------------------
Final Action........................ 04/30/24 89 FR 34770
Final Action Effective.............. 07/01/24
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Jeremy A. Milton, Phone: 202 317-5665, Fax: 855
591-7865, Email: [email protected].
RIN: 1545-BQ64
196. Transfer Provisions of Sections 30D and 25E [1545-BQ86]
Legal Authority: 26 U.S.C. 25E; 26 U.S.C. 30D; 26 U.S.C. 6213; 26
U.S.C. 7805
Abstract: Section 30D calls for the establishment of regulations
for several purposes. One of those provisions is in Section 30D(g)(1)
which provides that subject to regulations or other guidance as the
Secretary determines necessary, if the taxpayer who acquires a new
clean vehicle elects the application of section 30D(g) with respect to
such vehicle, the credit which would otherwise be allowed to such
taxpayer with respect to such vehicle shall be allowed to the eligible
entity in such election, and not to such taxpayer. Section 25E(f)
provides that Rules similar to the rules of section 30D(g) shall apply.
On October 5, 2022, Notice 2022-46 was published in I.R.B. 2022-43,
requesting comments regarding sections 30D and 25E.
On December 8, 2022, Revenue Procedure 2022-42 was published in
I.R.B. 2022-52, providing procedures, inter alia, for seller's reports
relating to the sale of clean vehicles.
Completed:
------------------------------------------------------------------------
Reason Date FR Cite
------------------------------------------------------------------------
NPRM................................ 10/10/23 88 FR 70310
Public Hearing...................... 01/31/24
Final Action........................ 05/06/24 89 FR 37706
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Rika Valdman, Phone: 202 317-5227, Fax: 202 317-
7868, Email: [email protected].
RIN: 1545-BQ86
197. Section 30D Foreign Entity of Concern [1545-BQ99]
Legal Authority: 26 U.S.C. 30D; 26 U.S.C. 7805
Abstract: Section 30D calls for the establishment of regulations
for several purposes. One of those provisions is in section 30D(e)(3),
which provides that the Secretary shall issue regulations or other
guidance as the Secretary determines necessary to carry out the
purposes of section 30D(e) regarding the critical mineral and battery
component requirements, including regulations or other guidance which
provides for the requirements for recordkeeping or information
reporting for purposes of administering the requirements of section
30D(e). Section 30D(e)(1)(B) and 30D(e)(2)(B) provide applicable
percentage requirements for critical minerals and battery components,
respectively, for vehicles placed in service during various tax years,
beginning with vehicles placed in service before January 1, 2024.
Section 30D(d)(7) provides that for purposes of this section, the
term new clean vehicle shall not include: (1) any vehicle placed in
service after December 31, 2024, with respect to which any of the
applicable critical minerals contained in the battery of such vehicle
(as described in section 30D(e)(1)(A)) were extracted, processed, or
recycled by a foreign entity of concern (as defined in section
40207(a)(5) of the Infrastructure Investment and Jobs Act (42 U.S.C.
18741(a)(5))), or any vehicle placed in service after December 31,
2023, with respect to which any of the components contained in the
battery of such vehicle (as described in section 30D(e)(2)(A)) were
manufactured or assembled by a foreign entity of concern (as so
defined).
On April 17, 2023, proposed regulations were published in the
Federal Register, 88 FR 23370, which provided proposed definitions for
certain terms related to section 30D, proposed rules regarding personal
and business use and other special rules, and additional proposed rules
related to the critical mineral and battery component requirements.
The Internal Revenue Service and Department of Treasury intend to
publish proposed regulations and a revenue procedure regarding vehicle
transfer elections provided for in sections 25E(f) and 30D(g). As of
the date of preparing this RIN request, such proposed regulations and
revenue procedure have not yet been published.
These proposed regulations will provide guidance regarding foreign
entity of concern for purposes of section 30D(d)(7).
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 12/04/23 88 FR 84098
[[Page 66864]]
NPRM Comment Period End............. 01/18/24
Public Hearing...................... 01/31/24
Final Action........................ 05/06/24 89 FR 37706
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Rika Valdman, Senior Technician Reviewer,
Department of the Treasury, Internal Revenue Service, 1111 Constitution
Avenue NW, Room 5112, Washington, DC 20224, Phone: 202 317-5227, Fax:
202 317-7868, Email: [email protected].
RIN: 1545-BQ99
[FR Doc. 2024-16461 Filed 8-15-24; 8:45 am]
BILLING CODE 4810-01-P; 4810-02-P; 9111-14-P
