Reporting, Procedures and Penalties, 74832-74834 [2024-20674]
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74832
Federal Register / Vol. 89, No. 178 / Friday, September 13, 2024 / Rules and Regulations
Warnings for Cigarette Packages and
Advertisements.’’ This guidance
describes FDA’s enforcement policy for
the final rule, ‘‘Tobacco Products;
Required Warnings for Cigarette
Packages and Advertisements’’ (85 FR
15638, March 18, 2020; codified at 21
CFR part 1141), which established new
required cigarette health warnings for
cigarette packages and advertisements.
The guidance is intended to assist
entities required to comply with the
rule. We are issuing this guidance
consistent with our good guidance
practices (GGP) regulation (21 CFR
10.115). We are implementing this
guidance without prior public comment
because we have determined that prior
public participation is not feasible or
appropriate (§ 10.115(g)(2)). We made
this determination because FDA needs
to communicate its enforcement policy
in a timely manner given that the rule
is now in effect due to developments in
litigation, as explained below. Although
this guidance document is being
implemented immediately, it remains
subject to comment in accordance with
FDA’s GGP regulation.
In the Federal Register of March 18,
2020, FDA issued a final rule
establishing new cigarette health
warnings for cigarette packages and
advertisements. The final rule
implements a provision of the Family
Smoking Prevention and Tobacco
Control Act (Tobacco Control Act) (Pub.
L. 111–31) that requires FDA to issue
regulations requiring color graphics
depicting the negative health
consequences of smoking to accompany
new textual warning statements. The
Tobacco Control Act amends the
Federal Cigarette Labeling and
Advertising Act (15 U.S.C. 1333) to
require each cigarette package and
advertisement to bear one of the new
required warnings. The final rule
specifies the 11 new textual warning
label statements and accompanying
color graphics. Additionally, the final
rule requires the random and equal
display and distribution of the required
warnings for cigarette packages and
quarterly rotation of the required
warnings for cigarette advertisements in
accordance with an FDA-approved plan
(referred to as cigarette plans),
consistent with the Tobacco Control
Act. Pursuant to section 201(b) of the
Tobacco Control Act, the rule was
published with an effective date of June
18, 2021, 15 months after the date of
publication of the final rule.
On April 3, 2020, the final rule was
challenged in the U.S. District Court for
VerDate Sep<11>2014
15:42 Sep 12, 2024
Jkt 262001
the Eastern District of Texas.1 The
District Court issued multiple orders
postponing the effective date of the rule,
the most recent of which postponed the
effective date to November 6, 2023.2 On
December 7, 2022, the District Court
issued an order vacating the rule.3 On
March 21, 2024, the U.S. Court of
Appeals for the Fifth Circuit issued an
opinion reversing the District Court and
concluding that FDA’s rule is consistent
with the First Amendment.4 The
opinion remanded the case to the
District Court for consideration of
plaintiffs’ remaining claims. A petition
for rehearing en banc was denied on
May 21, 2024,5 and the court’s mandate
issued on May 29, 2024.6 Accordingly,
the rule is no longer vacated. Because
the November 6, 2023, date in the
District Court’s most recent order
postponing the rule’s effective date has
passed, the rule is now in effect.
FDA recognizes that some
manufacturers, distributors, and
retailers already may have begun to
prepare to implement the rule’s
requirements. For instance, some
manufacturers, distributors, and
retailers already have submitted and
obtained approval of cigarette plans.
Even so, FDA recognizes that entities
may need time to implement the rule’s
requirements. In the guidance, FDA sets
out its enforcement policy for the final
rule. As discussed in the guidance, FDA
intends to exercise enforcement
discretion and generally not enforce
requirements of the final rule for 15
months after the issuance of this
guidance, until December 12, 2025. FDA
also intends to exercise enforcement
discretion and generally not enforce
requirements of the final rule for an
additional 30 days, until January 12,
2026, with respect to products
manufactured before December 12,
2025. These time periods are consistent
with section 201(b) of the Tobacco
Control Act and the effective date of the
final rule upon its publication. As FDA
recommended at the time of publication
of the final rule, FDA recommends that
entities that do not already have
approved cigarette plans submit such
plans as soon as possible, but in any
event, within 5 months, by February 10,
2025.
The guidance represents the current
thinking of FDA on this topic. It does
not establish any rights for any person
and is not binding on FDA or the public.
You can use an alternative approach if
it satisfies the requirements of the
applicable statutes and regulations.
II. Paperwork Reduction Act of 1995
While this guidance contains no
collection of information, it does refer to
previously approved FDA collections of
information. The previously approved
collections of information are subject to
review by the Office of Management and
Budget (OMB) under the Paperwork
Reduction Act (PRA) (44 U.S.C. 3501–
3521). The collections of information in
21 CFR 1141.10 have been approved
under OMB control number 0910–0877.
III. Electronic Access
Persons with access to the internet
may obtain an electronic version of the
guidance at https://
www.regulations.gov, https://
www.fda.gov/tobacco-products/rulesregulations-and-guidance/guidance, or
https://www.fda.gov/regulatoryinformation/search-fda-guidancedocuments.
Dated: September 10, 2024.
Lauren K. Roth,
Associate Commissioner for Policy.
[FR Doc. 2024–20850 Filed 9–12–24; 8:45 am]
BILLING CODE 4164–01–P
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
1 R.J.
Reynolds Tobacco Co. et al., v. United States
Food and Drug Administration et al., No. 6:20–cv–
00176 (E.D. Tex. filed April 3, 2020).
2 R.J. Reynolds Tobacco Co., No. 6:20–cv–00176
(E.D. Tex. November 7, 2022) (order postponing
effective date), Doc. No. 104. See also ‘‘Tobacco
Products; Required Warnings for Cigarette Packages
and Advertisements; Delayed Effective Date,’’ 87 FR
72384 (November 25, 2022).
3 R.J. Reynolds Tobacco Co., No. 6:20–cv–00176
(E.D. Tex. December 7, 2022) (opinion and order;
final judgment), Docs. No. 106; 107.
4 R.J. Reynolds Tobacco Co. et al., v. United States
Food and Drug Administration et al., No. 23–40076
(5th Cir. March 21, 2024) (panel opinion), Doc. No.
140–1.
5 R.J. Reynolds Tobacco Co. et al., No. 23–40076
(5th Cir. May 21, 2024) (order denying petition for
rehearing), Doc. No. 162–2.
6 R.J. Reynolds Tobacco Co. et al., No. 23–40076
(5th Cir. May 29, 2024) (mandate), Doc. No. 163–
2.
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31 CFR Part 501
Reporting, Procedures and Penalties
Office of Foreign Assets
Control, Treasury.
ACTION: Interim final rule; request for
comments.
AGENCY:
The Department of the
Treasury’s Office of Foreign Assets
Control (OFAC) is issuing this interim
final rule to amend the Reporting,
Procedures and Penalties Regulations
(the ‘‘Regulations’’), extending
recordkeeping requirements for certain
transactions from five to 10 years,
consistent with the statute of limitations
SUMMARY:
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Federal Register / Vol. 89, No. 178 / Friday, September 13, 2024 / Rules and Regulations
khammond on DSKJM1Z7X2PROD with RULES
for violations of certain sanctions
administered by the Office of Foreign
Assets Control (OFAC).
DATES:
Effective date: This interim final rule
is effective March 12, 2025.
Comments due date: Written
comments may be submitted on or
before October 15, 2024.
ADDRESSES: You may submit comments
via the following methods, electronic is
preferred:
Federal eRulemaking Portal:
www.regulations.gov. Follow the
instructions on the website for
submitting comments. Refer to Docket
Number OFAC–2024–0004.
Mail: Office of Foreign Assets Control,
U.S. Department of the Treasury,
Treasury Annex/Freedman’s Bank
Building, 1500 Pennsylvania Avenue
NW, Washington, DC 20220. Refer to
Docket Number OFAC–2024–0004.
Instructions: All submissions received
must include the agency name and the
Federal Register Doc. number that
appears at the end of this document. All
comments, including attachments and
other supporting materials, will become
part of the public record and subject to
public disclosure. Sensitive personal
information, such as account numbers
or Social Security numbers, should not
be included. Comments generally will
not be edited to remove any identifying
or contact information.
FOR FURTHER INFORMATION CONTACT:
Assistant Director for Licensing, 202–
622–2480; Assistant Director for
Regulatory Affairs, 202–622–4855;
Assistant Director for Compliance, 202–
622–2490 or https://ofac.treasury.gov/
contact-ofac.
SUPPLEMENTARY INFORMATION:
Background
On April 24, 2024, the President
signed into law the 21st Century Peace
through Strength Act, Public Law 118–
50, div. D (the ‘‘Act’’). Section 3111 of
the Act extended from five years to 10
years the statute of limitations for civil
and criminal violations of the
International Emergency Economic
Powers Act, 50 U.S.C. 1701 et seq.
(IEEPA), and the Trading with the
Enemy Act, 50 U.S.C. 4301 et seq.
(TWEA). Prior to the Act’s enactment,
civil enforcement actions brought by
OFAC under IEEPA or TWEA were
subject to the five-year statute of
limitations set forth in 28 U.S.C. 2462.
The new 10-year statute of limitations—
codified at 50 U.S.C. 1705(d) and
4315(d)—became effective upon the
President’s signature of the Act on April
24, 2024. This new 10-year statute of
limitations applies to any violation that
VerDate Sep<11>2014
15:42 Sep 12, 2024
Jkt 262001
was not time-barred at the time of its
enactment. Consequently, OFAC may
now commence an enforcement action
for civil violations of IEEPA- or TWEAbased sanctions prohibitions within 10
years of the latest date of the violation
if such date was after April 24, 2019. As
set forth in the Act, the commencement
of a civil enforcement action includes
the issuance of a pre-penalty notice or
a finding of violation.
To match the new statute of
limitations period, OFAC is publishing
this interim final rule extending from
five years to 10 years the recordkeeping
requirements codified at 31 CFR
501.601, paragraph IV.B of appendix A
to part 501, and 515.572. OFAC is
soliciting public comments for 30 days
on this interim final rule.
Electronic Availability
This document and additional
information concerning OFAC are
available on OFAC’s website: https://
ofac.treasury.gov.
Public Participation
Because the amendment of the
Regulations is a rule of agency
procedure and involves a foreign affairs
function, the provisions of Executive
Order 12866 of September 30, 1993,
‘‘Regulatory Planning and Review’’ (58
FR 51735, October 4, 1993), as
amended, and the Administrative
Procedure Act (5 U.S.C. 553) requiring
notice of proposed rulemaking,
opportunity for public participation,
and delay in effective date are
inapplicable. Because no notice of
proposed rulemaking is required for this
rule, the Regulatory Flexibility Act (5
U.S.C. 601–612) does not apply.
Paperwork Reduction Act
Pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3507), the
collections of information related to 31
CFR 501.601, paragraph IV.B of
appendix A to part 501, and 515.572
have been previously approved by the
Office of Management and Budget
(OMB) under control number 1505–
0164. This final rule modifies the
requirements for recordkeeping under
these sections by increasing the period
for recordkeeping to 10 years from five
years to align with a statutory
amendment. This modification to this
collection of information, as well as an
unrelated consolidation of certain OFAC
information collections, will be
submitted to OMB for review under
control number 1505–0164. Written
comments and recommendations for the
modified collection can be submitted by
visiting https://www.reginfo.gov/public/
do/PRAMain. Find this document by
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74833
selecting ‘‘Currently Under Review—
Open for Public Comments’’ or by using
the search function. Comments are
welcome and must be received by
November 13, 2024.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collection of information
displays a valid control number. The
likely filers and record-keepers affected
by these collections of information
contained in 31 CFR part 501 are
financial institutions, business
organizations, nonprofit organizations,
individuals, households, nongovernmental organizations, and legal
representatives.
The burden of the recordkeeping
requirement imposed by this rule is
minimal because the records required to
be maintained are likely maintained
under standard business practice. The
recent increase in the recordkeeping
period to 10 years from five years could
impose a temporary incremental burden
on recordkeepers while they update
their recordkeeping practices and adjust
storage requirements to maintain
records for a longer period of time.
Accordingly, the total burden for this
collection is estimated to be:
Estimated Number of Respondents:
2,505,086.
Frequency of Response: When
requested by OFAC.
Estimated Total Number of Annual
Responses: 2,505,086.
Estimated Time per Response: No
additional time to retain records for
additional time.
Comments are invited on: (a) Whether
the collection of information is
necessary for the proper performance of
the functions of the agency, including
whether the information has practical
utility; (b) the accuracy of the agency’s
estimate of the burden of the collection
of information; (c) ways to enhance the
quality, utility, and clarity of the
information to be collected; (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology; and (e) estimates of capital
or start-up costs and costs of operation,
maintenance, and purchase of services
required to provide information.
List of Subjects in 31 CFR Part 501
Administrative practice and
procedure, Banks, Banking, Exports,
Foreign trade, Licensing and
registration, Penalties, Reporting and
recordkeeping requirements.
For the reasons set forth in the
preamble, OFAC amends 31 CFR parts
501 and 515 as follows:
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74834
Federal Register / Vol. 89, No. 178 / Friday, September 13, 2024 / Rules and Regulations
U.S.C. 2461 note); 22 U.S.C. 6021–6091; Pub.
L. 105–277, 112 Stat. 2681; Pub. L. 111–8,
123 Stat. 524; Pub. L. 111–117, 123 Stat.
3034; E.O. 9989, 13 FR 4891, 3 CFR, 1943–
1948 Comp., p. 748; Proc. 3447, 27 FR 1085,
3 CFR, 1959–1963 Comp., p. 157; E.O. 12854,
58 FR 36587, 3 CFR, 1993 Comp., p. 614.
PART 501—REPORTING,
PROCEDURES AND PENALTIES
REGULATIONS
1. The authority citation for part 501
continues to read as follows:
■
Authority: 8 U.S.C. 1189; 18 U.S.C. 2332d,
2339B; 19 U.S.C. 3901–3913; 21 U.S.C. 1901–
1908; 22 U.S.C. 287c, 2370(a), 6009, 6032,
7205, 8501–8551; 31 U.S.C. 321(b); 50 U.S.C.
1701 et seq., 4301–4341; Pub. L. 101–410,
104 Stat. 890, as amended (28 U.S.C. 2461
note).
Subpart C—Reports
2. Revise and republish § 501.601 to
read as follows:
■
§ 501.601 Records and recordkeeping
requirements.
Except as otherwise provided, every
person engaging in any transaction
subject to the provisions of this chapter
shall keep a full and accurate record of
each such transaction engaged in,
regardless of whether such transaction
is effected pursuant to license or
otherwise, and such record shall be
available for examination for at least 10
years after the date of such transaction.
Except as otherwise provided, every
person holding property blocked
pursuant to the provisions of this
chapter or funds transfers retained
pursuant to § 596.504(b) of this chapter
shall keep a full and accurate record of
such property, and such record shall be
available for examination for the period
of time that such property is blocked
and for at least 10 years after the date
such property is unblocked.
■ 3. Revise paragraph IV.B of appendix
A to part 501 to read as follows:
Appendix A to Part 501—Economic
Sanctions Enforcement Guidelines
*
*
*
*
khammond on DSKJM1Z7X2PROD with RULES
*
*
*
*
PART 515—CUBAN ASSETS
CONTROL REGULATIONS
4. The authority citation for part 515
continues to read as follows:
■
Authority: 22 U.S.C. 2370(a), 6001–6010,
7201–7211; 31 U.S.C. 321(b); 50 U.S.C. 4301
et seq.; Pub. L. 101–410, 104 Stat. 890 (28
VerDate Sep<11>2014
§ 515.572 Provision of travel, carrier, other
transportation-related, and remittance
forwarding services.
*
*
*
*
*
(b) * * *
(1) Persons subject to U.S. jurisdiction
providing services authorized pursuant
to paragraphs (a)(1) through (4) of this
section must retain for at least 10 years
from the date of the transaction a
certification from each customer
indicating the section of this part that
authorizes the person to travel or send
remittances to Cuba. In the case of a
customer traveling under a specific
license, the specific license number or
a copy of the license must be
maintained on file with the person
subject to U.S. jurisdiction providing
services authorized pursuant to this
section.
*
*
*
*
*
Lisa M. Palluconi,
Acting Director, Office of Foreign Assets
Control.
[FR Doc. 2024–20674 Filed 9–11–24; 8:45 am]
BILLING CODE 4810–AL–P
ENVIRONMENTAL PROTECTION
AGENCY
40 CFR Part 52
Table of Contents
[EPA–R01–OAR–2024–0255; FRL–12071–
02–R1]
I. Background and Purpose
II. Final Action
III. Incorporation by Reference
IV. Statutory and Executive Order Reviews
*
IV. * * *
B. The late filing of a required report,
whether set forth in regulations or in a
specific license, may result in a civil
monetary penalty in an amount up to $3,550,
if filed within the first 30 days after the
report is due, and a penalty in an amount up
to $7,104 if filed more than 30 days after the
report is due. If the report relates to blocked
assets, the penalty may include an additional
$1,422 for every 30 days that the report is
overdue, up to 10 years.
*
5. Revise and republish paragraph
(b)(1) of § 515.572 as follows:
■
15:42 Sep 12, 2024
Jkt 262001
This rule is effective on October
15, 2024.
ADDRESSES: EPA has established a
docket for this action under Docket
Identification No. EPA–R01–OAR–
2024–0255. All documents in the docket
are listed on the https://
www.regulations.gov website. Although
listed in the index, some information is
not publicly available, i.e., CBI or other
information whose disclosure is
restricted by statute. Certain other
material, such as copyrighted material,
is not placed on the internet and will be
publicly available only in hard copy
form. Publicly available docket
materials are available at https://
www.regulations.gov or at the U.S.
Environmental Protection Agency, EPA
Region 1 Regional Office, Air and
Radiation Division, 5 Post Office
Square—Suite 100, Boston, MA. EPA
requests that if at all possible, you
contact the contact listed in the FOR
FURTHER INFORMATION CONTACT section to
schedule your inspection. The Regional
Office’s official hours of business are
Monday through Friday, 8:30 a.m. to
4:30 p.m., excluding legal holidays and
facility closures due to COVID–19.
FOR FURTHER INFORMATION CONTACT:
Alison C. Simcox, Air Quality Branch,
Air and Radiation Division (Mail Code
5–MD), U.S. Environmental Protection
Agency, Region 1, 5 Post Office Square,
Suite 100, Boston, Massachusetts,
02109–3912, (617) 918–1684;
simcox.alison@epa.gov.
SUPPLEMENTARY INFORMATION:
Throughout this document whenever
‘‘we,’’ ‘‘us,’’ or ‘‘our’’ is used, we mean
EPA.
DATES:
Air Plan Approval; New Hampshire;
Ambient Air Quality Standards
Environmental Protection
Agency (EPA).
ACTION: Final rule.
AGENCY:
The Environmental Protection
Agency (EPA) is approving most of a
State Implementation Plan (SIP)
revision submitted by the State of New
Hampshire. This revision updates the
State regulation containing ambient air
quality standards. EPA is approving all
the State’s updated standards, except
the primary annual fine particle (PM2.5)
standard, which we are conditionally
approving because it does not match
EPA’s current National Ambient Air
Quality Standard for PM2.5. This action
is being taken in accordance with the
Clean Air Act.
SUMMARY:
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I. Background and Purpose
On July 11, 2024 (89 FR 56825), EPA
published a Notice of Proposed
Rulemaking (NPRM) for the State of
New Hampshire.
The NPRM proposed approval of New
Hampshire’s update to its Env-A 300,
‘‘Ambient Air Quality Standards’’
(AAQS). The formal SIP revision was
submitted by the state on December 22,
2022.
EPA determined that the state’s
updated AAQS are consistent with the
National Ambient Air Quality Standards
(NAAQS) in 40 CFR part 50 for all
standards except the PM2.5 primary
annual standard, which EPA
strengthened subsequent to New
Hampshire’s SIP submittal (89 FR
16202).
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Agencies
[Federal Register Volume 89, Number 178 (Friday, September 13, 2024)]
[Rules and Regulations]
[Pages 74832-74834]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-20674]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 501
Reporting, Procedures and Penalties
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Interim final rule; request for comments.
-----------------------------------------------------------------------
SUMMARY: The Department of the Treasury's Office of Foreign Assets
Control (OFAC) is issuing this interim final rule to amend the
Reporting, Procedures and Penalties Regulations (the ``Regulations''),
extending recordkeeping requirements for certain transactions from five
to 10 years, consistent with the statute of limitations
[[Page 74833]]
for violations of certain sanctions administered by the Office of
Foreign Assets Control (OFAC).
DATES:
Effective date: This interim final rule is effective March 12,
2025.
Comments due date: Written comments may be submitted on or before
October 15, 2024.
ADDRESSES: You may submit comments via the following methods,
electronic is preferred:
Federal eRulemaking Portal: www.regulations.gov. Follow the
instructions on the website for submitting comments. Refer to Docket
Number OFAC-2024-0004.
Mail: Office of Foreign Assets Control, U.S. Department of the
Treasury, Treasury Annex/Freedman's Bank Building, 1500 Pennsylvania
Avenue NW, Washington, DC 20220. Refer to Docket Number OFAC-2024-0004.
Instructions: All submissions received must include the agency name
and the Federal Register Doc. number that appears at the end of this
document. All comments, including attachments and other supporting
materials, will become part of the public record and subject to public
disclosure. Sensitive personal information, such as account numbers or
Social Security numbers, should not be included. Comments generally
will not be edited to remove any identifying or contact information.
FOR FURTHER INFORMATION CONTACT: Assistant Director for Licensing, 202-
622-2480; Assistant Director for Regulatory Affairs, 202-622-4855;
Assistant Director for Compliance, 202-622-2490 or https://ofac.treasury.gov/contact-ofac.
SUPPLEMENTARY INFORMATION:
Background
On April 24, 2024, the President signed into law the 21st Century
Peace through Strength Act, Public Law 118-50, div. D (the ``Act'').
Section 3111 of the Act extended from five years to 10 years the
statute of limitations for civil and criminal violations of the
International Emergency Economic Powers Act, 50 U.S.C. 1701 et seq.
(IEEPA), and the Trading with the Enemy Act, 50 U.S.C. 4301 et seq.
(TWEA). Prior to the Act's enactment, civil enforcement actions brought
by OFAC under IEEPA or TWEA were subject to the five-year statute of
limitations set forth in 28 U.S.C. 2462. The new 10-year statute of
limitations--codified at 50 U.S.C. 1705(d) and 4315(d)--became
effective upon the President's signature of the Act on April 24, 2024.
This new 10-year statute of limitations applies to any violation that
was not time-barred at the time of its enactment. Consequently, OFAC
may now commence an enforcement action for civil violations of IEEPA-
or TWEA-based sanctions prohibitions within 10 years of the latest date
of the violation if such date was after April 24, 2019. As set forth in
the Act, the commencement of a civil enforcement action includes the
issuance of a pre-penalty notice or a finding of violation.
To match the new statute of limitations period, OFAC is publishing
this interim final rule extending from five years to 10 years the
recordkeeping requirements codified at 31 CFR 501.601, paragraph IV.B
of appendix A to part 501, and 515.572. OFAC is soliciting public
comments for 30 days on this interim final rule.
Electronic Availability
This document and additional information concerning OFAC are
available on OFAC's website: https://ofac.treasury.gov.
Public Participation
Because the amendment of the Regulations is a rule of agency
procedure and involves a foreign affairs function, the provisions of
Executive Order 12866 of September 30, 1993, ``Regulatory Planning and
Review'' (58 FR 51735, October 4, 1993), as amended, and the
Administrative Procedure Act (5 U.S.C. 553) requiring notice of
proposed rulemaking, opportunity for public participation, and delay in
effective date are inapplicable. Because no notice of proposed
rulemaking is required for this rule, the Regulatory Flexibility Act (5
U.S.C. 601-612) does not apply.
Paperwork Reduction Act
Pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3507),
the collections of information related to 31 CFR 501.601, paragraph
IV.B of appendix A to part 501, and 515.572 have been previously
approved by the Office of Management and Budget (OMB) under control
number 1505-0164. This final rule modifies the requirements for
recordkeeping under these sections by increasing the period for
recordkeeping to 10 years from five years to align with a statutory
amendment. This modification to this collection of information, as well
as an unrelated consolidation of certain OFAC information collections,
will be submitted to OMB for review under control number 1505-0164.
Written comments and recommendations for the modified collection can be
submitted by visiting https://www.reginfo.gov/public/do/PRAMain. Find
this document by selecting ``Currently Under Review--Open for Public
Comments'' or by using the search function. Comments are welcome and
must be received by November 13, 2024.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collection of
information displays a valid control number. The likely filers and
record-keepers affected by these collections of information contained
in 31 CFR part 501 are financial institutions, business organizations,
nonprofit organizations, individuals, households, non-governmental
organizations, and legal representatives.
The burden of the recordkeeping requirement imposed by this rule is
minimal because the records required to be maintained are likely
maintained under standard business practice. The recent increase in the
recordkeeping period to 10 years from five years could impose a
temporary incremental burden on recordkeepers while they update their
recordkeeping practices and adjust storage requirements to maintain
records for a longer period of time. Accordingly, the total burden for
this collection is estimated to be:
Estimated Number of Respondents: 2,505,086.
Frequency of Response: When requested by OFAC.
Estimated Total Number of Annual Responses: 2,505,086.
Estimated Time per Response: No additional time to retain records
for additional time.
Comments are invited on: (a) Whether the collection of information
is necessary for the proper performance of the functions of the agency,
including whether the information has practical utility; (b) the
accuracy of the agency's estimate of the burden of the collection of
information; (c) ways to enhance the quality, utility, and clarity of
the information to be collected; (d) ways to minimize the burden of the
collection of information on respondents, including through the use of
automated collection techniques or other forms of information
technology; and (e) estimates of capital or start-up costs and costs of
operation, maintenance, and purchase of services required to provide
information.
List of Subjects in 31 CFR Part 501
Administrative practice and procedure, Banks, Banking, Exports,
Foreign trade, Licensing and registration, Penalties, Reporting and
recordkeeping requirements.
For the reasons set forth in the preamble, OFAC amends 31 CFR parts
501 and 515 as follows:
[[Page 74834]]
PART 501--REPORTING, PROCEDURES AND PENALTIES REGULATIONS
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1. The authority citation for part 501 continues to read as follows:
Authority: 8 U.S.C. 1189; 18 U.S.C. 2332d, 2339B; 19 U.S.C.
3901-3913; 21 U.S.C. 1901-1908; 22 U.S.C. 287c, 2370(a), 6009, 6032,
7205, 8501-8551; 31 U.S.C. 321(b); 50 U.S.C. 1701 et seq., 4301-
4341; Pub. L. 101-410, 104 Stat. 890, as amended (28 U.S.C. 2461
note).
Subpart C--Reports
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2. Revise and republish Sec. 501.601 to read as follows:
Sec. 501.601 Records and recordkeeping requirements.
Except as otherwise provided, every person engaging in any
transaction subject to the provisions of this chapter shall keep a full
and accurate record of each such transaction engaged in, regardless of
whether such transaction is effected pursuant to license or otherwise,
and such record shall be available for examination for at least 10
years after the date of such transaction. Except as otherwise provided,
every person holding property blocked pursuant to the provisions of
this chapter or funds transfers retained pursuant to Sec. 596.504(b)
of this chapter shall keep a full and accurate record of such property,
and such record shall be available for examination for the period of
time that such property is blocked and for at least 10 years after the
date such property is unblocked.
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3. Revise paragraph IV.B of appendix A to part 501 to read as follows:
Appendix A to Part 501--Economic Sanctions Enforcement Guidelines
* * * * *
IV. * * *
B. The late filing of a required report, whether set forth in
regulations or in a specific license, may result in a civil monetary
penalty in an amount up to $3,550, if filed within the first 30 days
after the report is due, and a penalty in an amount up to $7,104 if
filed more than 30 days after the report is due. If the report
relates to blocked assets, the penalty may include an additional
$1,422 for every 30 days that the report is overdue, up to 10 years.
* * * * *
PART 515--CUBAN ASSETS CONTROL REGULATIONS
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4. The authority citation for part 515 continues to read as follows:
Authority: 22 U.S.C. 2370(a), 6001-6010, 7201-7211; 31 U.S.C.
321(b); 50 U.S.C. 4301 et seq.; Pub. L. 101-410, 104 Stat. 890 (28
U.S.C. 2461 note); 22 U.S.C. 6021-6091; Pub. L. 105-277, 112 Stat.
2681; Pub. L. 111-8, 123 Stat. 524; Pub. L. 111-117, 123 Stat. 3034;
E.O. 9989, 13 FR 4891, 3 CFR, 1943-1948 Comp., p. 748; Proc. 3447,
27 FR 1085, 3 CFR, 1959-1963 Comp., p. 157; E.O. 12854, 58 FR 36587,
3 CFR, 1993 Comp., p. 614.
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5. Revise and republish paragraph (b)(1) of Sec. 515.572 as follows:
Sec. 515.572 Provision of travel, carrier, other transportation-
related, and remittance forwarding services.
* * * * *
(b) * * *
(1) Persons subject to U.S. jurisdiction providing services
authorized pursuant to paragraphs (a)(1) through (4) of this section
must retain for at least 10 years from the date of the transaction a
certification from each customer indicating the section of this part
that authorizes the person to travel or send remittances to Cuba. In
the case of a customer traveling under a specific license, the specific
license number or a copy of the license must be maintained on file with
the person subject to U.S. jurisdiction providing services authorized
pursuant to this section.
* * * * *
Lisa M. Palluconi,
Acting Director, Office of Foreign Assets Control.
[FR Doc. 2024-20674 Filed 9-11-24; 8:45 am]
BILLING CODE 4810-AL-P