Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request on Burden Related to Reporting on Mortgage Assistance Payments, 96709-96710 [2024-28481]
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Federal Register / Vol. 89, No. 234 / Thursday, December 5, 2024 / Notices
Nominations must be received
by January 6, 2025.
ADDRESSES: Nominations must be
emailed to BSAAG@fincen.gov.
FOR FURTHER INFORMATION CONTACT:
FinCEN Regulatory Support Section at
frc@fincen.gov.
SUPPLEMENTARY INFORMATION: Section
1564 of the Annunzio-Wylie AntiMoney Laundering (AML) Act of 1992
required the Secretary of the Treasury to
establish a Bank Secrecy Act Advisory
Group (BSAAG) consisting of
representatives from federal agencies
and other interested persons and
financial institutions subject to the
regulatory requirements of the Bank
Secrecy Act, found at 31 CFR chapter X.
The BSAAG is the means by which the
Treasury receives advice on the
reporting requirements of the Bank
Secrecy Act (BSA) and informs private
sector representatives on how the
information they provide is used. As
chair of the BSAAG, the Director of
FinCEN is responsible for ensuring that
relevant issues are placed before the
BSAAG for review, analysis, and
discussion.
BSAAG membership is open to
financial institutions subject to the BSA,
trade groups that represent financial
institutions subject to the BSA, and
federal and non-federal regulators and
law enforcement agencies that are
located within the United States.1
FinCEN is especially interested in
receiving nominations for eligible
entities (as described above) that can
share insights on compliance with the
Corporate Transparency Act and
FinCEN’s implementing regulations. In
September of 2022, FinCEN published a
final rule that implemented a new
beneficial ownership information (BOI)
reporting requirement, codified at 31
CFR 1010.380.2 This rule implements
section 6403 of the Corporate
Transparency Act (CTA), which was
enacted as part of the Anti-Money
Laundering Act of 2020 in the National
Defense Authorization Act for Fiscal
Year 2021.3 The BOI reporting rule
DATES:
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1 Because
they are not directly subject to the vast
majority of BSA requirements themselves, entities
that solely provide software products or services or
consulting services for financial institutions are not
independently eligible for BSAAG membership.
2 FinCEN Issues Final Rule for Beneficial
Ownership Reporting To Support Law Enforcement
Efforts, Counter Illicit Finance, and Increase
Transparency | FinCEN.gov.
3 The CTA is title LXIV of the William M. (Mac)
Thornberry National Defense Authorization Act for
Fiscal Year 2021, Public Law 116–283 (Jan. 1, 2021)
(NDAA). Division F of the NDAA is the Anti-Money
Laundering Act of 2020, which includes the CTA.
Section 6403 of the CTA, among other things,
amended the BSA by adding a new section 5336,
Beneficial Ownership Information Reporting
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requires certain types of domestic and
foreign entities, called ‘‘reporting
companies,’’ to report information about
their beneficial owners, the persons who
ultimately own or control the company,
to FinCEN. Eligible entities that are
interested in focusing on CTA
compliance should provide a clear
explanation of how their perspectives
can also enhance broader BSAAG
discussions, including discussions
about the BSA generally.
We also continue to welcome
nominations from other eligible entities
that can actively share their
perspectives on a variety of BSA
requirements. Each member selected
will serve a three-year term and must
designate one individual to represent
that member at plenary meetings. While
BSAAG membership is granted to
organizations, not to individuals, the
designated representative for each
selected organization should be
knowledgeable about BSA requirements
and be willing and able to devote the
necessary time and effort on behalf of
the representative’s organization.
Members are expected to actively share
anecdotal perspectives, quantifiable
insights on BSA requirements, and
industry trends in BSAAG discussions.
The organization’s representative must
be able to attend biannual plenary
meetings, generally held in Washington,
DC, over one or two days, generally in
May and October. Additional BSAAG
meetings may be held by phone,
videoconference, or in person, and the
organization’s representative is expected
to actively engage in the BSAAG’s work
through participation in meetings of
various BSAAG Subcommittees and/or
working groups, including
Subcommittees established pursuant to
the Anti-Money Laundering Act of 2020
(AML Act).4 Members will not be paid
for their time, services, or travel.
Nominations for individuals who are
not representing an organization will
not be considered, but organizations
may nominate themselves.
Organizations should only submit
nominations on behalf of their own
organization and not on behalf of
another organization. Please provide
complete answers to the following
items, as nominations will be evaluated
based on the information provided in
response to this notice and request for
Requirements, to subchapter II of chapter 53 of title
31, United States Code.
4 The AML Act was enacted as division F,
sections 6001–6511, of the NDAA. The AML Act,
among other provisions, mandated the creation of
a BSAAG Subcommittee on Innovation and
Technology (section 6207) and a BSAG
Subcommittee on Information Security and
Confidentiality (section 6302).
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96709
nominations. There is no required
format; interested organizations may
submit their nominations electronically
(e.g., email or email attachment).
Nominations should include the
following information:
• Name of the organization requesting
membership;
• Point of contact, title, address,
email address, and phone number;
• Description of the financial
institution, trade group, regulator, selfregulatory organization (SRO), or law
enforcement agency involved with the
BSA;
• Reasons why the organization’s
participation on the BSAAG will bring
value to the group; and
• Trade groups must submit a full list
of their members along with their
nomination. Trade groups must also
confirm that, if selected, they will only
share BSAAG information with their
members that are located within the
United States.
In making the selections, FinCEN will
seek to complement current BSAAG
members and obtain comprehensive
representation in terms of affiliation,
industry, and geographic representation.
The Director retains full discretion on
all membership decisions. The Director
may consider prior years’ applications
when making selections and will not
limit consideration to entities
nominated by the public when making
selections.
Andrea M. Gacki,
Director, Financial Crimes Enforcement
Network.
[FR Doc. 2024–28451 Filed 12–4–24; 8:45 am]
BILLING CODE 4810–02–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Extension of Information
Collection Request Submitted for
Public Comment; Comment Request
on Burden Related to Reporting on
Mortgage Assistance Payments
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
The Internal Revenue Service,
as part of its continuing effort to reduce
paperwork and respondent burden,
invites the public and other Federal
agencies to take this opportunity to
comment on proposed and/or
continuing information collections, as
required by the Paperwork Reduction
Act of 1995. Currently, the IRS is
soliciting comments concerning the
SUMMARY:
E:\FR\FM\05DEN1.SGM
05DEN1
96710
Federal Register / Vol. 89, No. 234 / Thursday, December 5, 2024 / Notices
khammond on DSK9W7S144PROD with NOTICES
burden for Form 1098–MA, Mortgage
Assistance Payments.
DATES: Written comments should be
received on or before February 3, 2025
to be assured of consideration.
ADDRESSES: Direct all written comments
to Andrés Garcia, Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or
by email to pra.comments@irs.gov.
Please include, ‘‘OMB Number: 1545–
2221–Public Comment Request Notice’’
in the Subject line.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the form and instructions
should be directed to Ronald J. Durbala,
at (202) 317–5746, at Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or
through the internet at
RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Mortgage Assistance Payments.
OMB Number: 1545–2221.
Document Number: Forms 1098–MA.
Abstract: Taxpayers who are required
to have an identification number for use
on any return, statement, or other
document must prepare and file Form
SS–4 or Form SS–4 (SP) to obtain a
number. The information is used by the
Internal Revenue Service and the Social
Security Administration in tax
administration and by the Bureau of the
Census for business statistics.
VerDate Sep<11>2014
16:31 Dec 04, 2024
Jkt 265001
Current Actions: There are no changes
being made to the forms at this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations, individuals or
households, not-for-profit institutions,
farms, federal government, and state,
local or tribal governments.
Estimated Number of Respondents:
60,000.
Estimated Time per Respondent: 2
hrs., 50 min.
Estimated Total Annual Burden
Hours: 170,400.
The following paragraph applies to all
the collections of information covered
by this notice:
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 OMB control number.
Books or records relating to a
collection of information must be
retained if their contents may become
material in the administration of any
internal revenue law. Generally, tax
returns and tax return information are
confidential, as required by 26 U.S.C.
6103.
Desired Focus of Comments: The
Internal Revenue Service (IRS) is
particularly interested in comments
that:
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• Evaluate whether the proposed
collection of information is necessary
for the proper performance of the
functions of the agency, including
whether the information will have
practical utility.
• Evaluate the accuracy of the
agency’s estimate of the burden of the
proposed collection of information,
including the validity of the
methodology and assumptions used.
• Enhance the quality, utility, and
clarity of the information to be
collected; and
• Minimize the burden of the
collection of information on those who
are to respond, including using
appropriate automated, electronic,
mechanical, or other technological
collection techniques or other forms of
information technology, e.g., by
permitting electronic submissions of
responses.
Comments submitted in response to
this notice will be summarized and/or
included in the ICR for OMB approval
of the extension of the information
collection; they will also become a
matter of public record.
Approved: December 2, 2024.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2024–28481 Filed 12–4–24; 8:45 am]
BILLING CODE 4830–01–P
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]]>Agencies
[Federal Register Volume 89, Number 234 (Thursday, December 5, 2024)]
[Notices]
[Pages 96709-96710]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-28481]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Extension of Information Collection Request Submitted
for Public Comment; Comment Request on Burden Related to Reporting on
Mortgage Assistance Payments
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: The Internal Revenue Service, as part of its continuing effort
to reduce paperwork and respondent burden, invites the public and other
Federal agencies to take this opportunity to comment on proposed and/or
continuing information collections, as required by the Paperwork
Reduction Act of 1995. Currently, the IRS is soliciting comments
concerning the
[[Page 96710]]
burden for Form 1098-MA, Mortgage Assistance Payments.
DATES: Written comments should be received on or before February 3,
2025 to be assured of consideration.
ADDRESSES: Direct all written comments to Andr[eacute]s Garcia,
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW,
Washington, DC 20224, or by email to [email protected]. Please
include, ``OMB Number: 1545-2221-Public Comment Request Notice'' in the
Subject line.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the form and instructions should be directed to Ronald J.
Durbala, at (202) 317-5746, at Internal Revenue Service, Room 6526,
1111 Constitution Avenue NW, Washington, DC 20224, or through the
internet at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Mortgage Assistance Payments.
OMB Number: 1545-2221.
Document Number: Forms 1098-MA.
Abstract: Taxpayers who are required to have an identification
number for use on any return, statement, or other document must prepare
and file Form SS-4 or Form SS-4 (SP) to obtain a number. The
information is used by the Internal Revenue Service and the Social
Security Administration in tax administration and by the Bureau of the
Census for business statistics.
Current Actions: There are no changes being made to the forms at
this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations,
individuals or households, not-for-profit institutions, farms, federal
government, and state, local or tribal governments.
Estimated Number of Respondents: 60,000.
Estimated Time per Respondent: 2 hrs., 50 min.
Estimated Total Annual Burden Hours: 170,400.
The following paragraph applies to all the collections of
information covered by this notice:
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 OMB control number.
Books or records relating to a collection of information must be
retained if their contents may become material in the administration of
any internal revenue law. Generally, tax returns and tax return
information are confidential, as required by 26 U.S.C. 6103.
Desired Focus of Comments: The Internal Revenue Service (IRS) is
particularly interested in comments that:
Evaluate whether the proposed collection of information is
necessary for the proper performance of the functions of the agency,
including whether the information will have practical utility.
Evaluate the accuracy of the agency's estimate of the
burden of the proposed collection of information, including the
validity of the methodology and assumptions used.
Enhance the quality, utility, and clarity of the
information to be collected; and
Minimize the burden of the collection of information on
those who are to respond, including using appropriate automated,
electronic, mechanical, or other technological collection techniques or
other forms of information technology, e.g., by permitting electronic
submissions of responses.
Comments submitted in response to this notice will be summarized
and/or included in the ICR for OMB approval of the extension of the
information collection; they will also become a matter of public
record.
Approved: December 2, 2024.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2024-28481 Filed 12-4-24; 8:45 am]
BILLING CODE 4830-01-P
