Department of the Treasury – Federal Register Recent Federal Regulation Documents

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Government Securities Act Regulations: Large Position Reporting Rules
Document Number: 2018-22732
Type: Rule
Date: 2018-10-18
Agency: Department of the Treasury
The Department of the Treasury (Treasury) is issuing a final
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple IRS Information Collection Requests
Document Number: 2018-22554
Type: Notice
Date: 2018-10-17
Agency: Department of the Treasury
The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests.
De Minimis Error Safe Harbor Exceptions to Penalties for Failure To File Correct Information Returns or Furnish Correct Payee Statements
Document Number: 2018-22393
Type: Proposed Rule
Date: 2018-10-17
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations relating to penalties for failure to file correct information returns or furnish correct payee statements. The proposed regulations contain safe harbor rules that, for penalty purposes, generally treat as correct payee statements or corresponding information returns that contain errors relating to de minimis incorrect dollar amounts. They prescribe the time and manner in which a payee may elect not to have the safe harbor rules apply. They also update penalty amounts and update references to information reporting obligations. Finally, they provide rules relating to the reporting of basis of securities by brokers as this reporting relates to the de minimis error safe harbor rules. The proposed regulations affect persons required to either file information returns or to furnish payee statements (filers), and recipients of payee statements (payees).
Proposed Extension of Information Collection Request Submitted for Public Comment; Section 6708 Failure To Maintain List of Advisees With Respect to Reportable Transactions
Document Number: 2018-22515
Type: Notice
Date: 2018-10-16
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
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 guidance under section 6708, failure to maintain list of advisees with respect to reportable transactions.
Advisory Committee to the Internal Revenue Service; Meeting
Document Number: 2018-22514
Type: Notice
Date: 2018-10-16
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Information Reporting Program Advisory Committee (IRPAC) will hold a public meeting on Wednesday, October 24, 2018.
Proposed Collection; Comment Request for Revenue Procedure
Document Number: 2018-22444
Type: Notice
Date: 2018-10-16
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general 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. The IRS is soliciting comments concerning information collection requirements related to guidance for qualification as an acceptance agent, and execution of an agreement between an acceptance agent and the Internal Revenue Service relating to the issuance of certain taxpayer identifying numbers.
Guidance Regarding the Transition Tax Under Section 965 and Related Provisions; Hearing
Document Number: 2018-22345
Type: Proposed Rule
Date: 2018-10-15
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document provides a notice of public hearing on proposed regulations relating to section 965 of the Internal Revenue Code as amended by the Tax Cuts and Jobs Act, which was enacted on December 22, 2017.
Removal of Regulations on Advance Payments for Goods and Long-Term Contracts
Document Number: 2018-22025
Type: Proposed Rule
Date: 2018-10-15
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This notice of proposed rulemaking proposes to streamline IRS regulations by removing regulations that are no longer necessary after the enactment of recent tax legislation. Specifically, these regulations would remove existing regulations regarding advance payments for goods and long-term contracts. The regulations would affect accrual method taxpayers who receive advance payments for goods, including those for inventoriable goods.
Notice of OFAC Implementation of Certain Sanctions Imposed on Two Persons by the Secretary of State Pursuant to the Countering America's Adversaries Through Sanctions Act
Document Number: 2018-21131
Type: Notice
Date: 2018-10-15
Agency: Department of the Treasury, Office of Foreign Assets Control
The Treasury Department's Office of Foreign Assets Control (OFAC) is taking action to implement certain of the sanctions imposed on two persons by the Secretary of State pursuant to the Countering America's Adversaries Through Sanctions Act (Pub. L. 115-44).
Departmental Offices; Debt Management Advisory Committee Meeting
Document Number: 2018-22219
Type: Notice
Date: 2018-10-12
Agency: Department of the Treasury
Interest Rate Paid on Cash Deposited To Secure U.S. Immigration and Customs Enforcement Immigration Bonds
Document Number: 2018-22195
Type: Notice
Date: 2018-10-11
Agency: Department of the Treasury
For the period beginning October 1, 2018, and ending on December 31, 2018, the U.S. Immigration and Customs Enforcement Immigration Bond interest rate is 2.08 per centum per annum.
Provisions Pertaining to Certain Investments in the United States by Foreign Persons
Document Number: 2018-22187
Type: Rule
Date: 2018-10-11
Agency: Department of the Treasury, Office of Investment Security
This interim rule sets forth amendments to the regulations in part 800 of 31 CFR that implement, and make updates consistent with, certain provisions of the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA). Among other things, this interim rule implements certain provisions of FIRRMA that became immediately effective upon its enactment and provides clarity as to the current process and procedures with respect to the reviews and investigations undertaken by the Committee on Foreign Investment in the United States pursuant to part 800, in light of FIRRMA.
Determination and Temporary Provisions Pertaining to a Pilot Program To Review Certain Transactions Involving Foreign Persons and Critical Technologies
Document Number: 2018-22182
Type: Rule
Date: 2018-10-11
Agency: Department of the Treasury, Office of Investment Security
This interim rule sets forth the scope of, and procedures for, a pilot program of the Committee on Foreign Investment in the United States (CFIUS, or the Committee) under section 721 of the Defense Production Act of 1950, as amended by the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA). Pursuant to section 1727(c) of FIRRMA, this pilot program implements the authorities provided in two sections of FIRRMA that did not take effect upon the statute's enactment. First, the pilot program expands the scope of transactions subject to review by CFIUS to include certain investments involving foreign persons and critical technologies. Second, the pilot program makes effective FIRRMA's mandatory declarations provision for all transactions that fall within the specific scope of the pilot program. The pilot program is temporary and will end no later than March 5, 2020.
Agency Information Collection Activities; Submission for OMB Review; Comment Request; U.S. Individual Income Tax Return
Document Number: 2018-22180
Type: Notice
Date: 2018-10-11
Agency: Department of the Treasury
The Department of the Treasury will submit the following information collection request to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on this request.
Notice of OFAC Sanctions Actions
Document Number: 2018-22165
Type: Notice
Date: 2018-10-11
Agency: Department of the Treasury, Office of Foreign Assets Control
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is updating the entries of 462 persons on OFAC's Specially Designated National and Blocked Persons List (SDN List).
Open Meeting of the Taxpayer Advocacy Panel Special Projects Committee
Document Number: 2018-22061
Type: Notice
Date: 2018-10-11
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Taxpayer Advocacy Panel Special Projects Committee will be conducted. The Taxpayer Advocacy Panel is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Open Meeting of the Taxpayer Advocacy Panel Tax Forms and Publications Project Committee
Document Number: 2018-22060
Type: Notice
Date: 2018-10-11
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Taxpayer Advocacy Panel Tax Forms and Publications Project Committee will be conducted. The Taxpayer Advocacy Panel is soliciting public comments, ideas and suggestions on improving customer service at the Internal Revenue Service.
Open Meeting of the Taxpayer Advocacy Panel Taxpayer Communications Project Committee
Document Number: 2018-22059
Type: Notice
Date: 2018-10-11
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Taxpayer Advocacy Panel Taxpayer Communications Project Committee will be conducted. The Taxpayer Advocacy Panel is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Open Meeting of the Taxpayer Advocacy Panel Joint Committee
Document Number: 2018-22058
Type: Notice
Date: 2018-10-11
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Taxpayer Advocacy Panel Joint Committee will be conducted. The Taxpayer Advocacy Panel is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Open Meeting of the Taxpayer Advocacy Panel Taxpayer Assistance Center Improvements Project Committee
Document Number: 2018-22057
Type: Notice
Date: 2018-10-11
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Taxpayer Advocacy Panel Taxpayer Assistance Center Improvements Project Committee will conduct an open meeting and will solicit public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Open Meeting of the Taxpayer Advocacy Panel Toll-Free Phone Line Project Committee
Document Number: 2018-22053
Type: Notice
Date: 2018-10-11
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Taxpayer Advocacy Panel Toll-Free Phone Line Project Committee will be conducted. The Taxpayer Advocacy Panel is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Open Meeting of the Taxpayer Advocacy Panel Notices and Correspondence Project Committee
Document Number: 2018-22052
Type: Notice
Date: 2018-10-11
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
An open meeting of the Taxpayer Advocacy Panel Notices and Correspondence Project Committee will be conducted. The Taxpayer Advocacy Panel is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service.
Availability of Additional Guidance Under Section 965
Document Number: 2018-22022
Type: Proposed Rule
Date: 2018-10-10
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document announces the availability of additional guidance regarding the transition tax under section 965 issued as Notice 2018-78.
Margin and Capital Requirements for Covered Swap Entities; Final Rule
Document Number: 2018-22021
Type: Rule
Date: 2018-10-10
Agency: Farm Credit Administration, Agencies and Commissions, Federal Deposit Insurance Corporation, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Federal Housing Finance Agency
The Board, OCC, FDIC, FCA, and FHFA (each an Agency and, collectively, the Agencies) are adopting amendments to their rules establishing minimum margin requirements for registered swap dealers, major swap participants, security-based swap dealers, and major security-based swap participants (Swap Margin Rule). These amendments conform the Swap Margin Rule to rules recently adopted by the Board, the OCC, and the FDIC that impose restrictions on certain qualified financial contracts, including certain non-cleared swaps subject to the Swap Margin Rule (the QFC Rules). Specifically, the final amendments to the Swap Margin Rule conform the definition of ``Eligible Master Netting Agreement'' to the definition of ``Qualifying Master Netting Agreement'' in the QFC Rules. The amendment to the Swap Margin Rule ensures that netting agreements of firms subject to the Swap Margin Rule are not excluded from the definition of ``Eligible Master Netting Agreement'' based solely on their compliance with the QFC Rules. The amendment also ensures that margin amounts required for non-cleared swaps covered by agreements that otherwise constitute Eligible Master Netting Agreements can continue to be calculated on a net portfolio basis, notwithstanding changes to those agreements that will be made in some instances by firms revising their netting agreements to achieve compliance with the QFC Rules. In addition, for any non-cleared swaps that were ``entered into'' before the compliance dates of the Swap Margin Rulesand which are accordingly grandfathered from application of the rule's margin requirementsthe amendments state that any changes to netting agreements that are required to conform to the QFC Rules will not render grandfathered swaps covered by that netting agreement as ``new'' swaps subject to the Swap Margin Rule.
Proposed Collection; Comment Request for Form 8908
Document Number: 2018-21997
Type: Notice
Date: 2018-10-10
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service (IRS), as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning Energy Efficient Home Credit.
Notice of OFAC Sanctions Actions
Document Number: 2018-21956
Type: Notice
Date: 2018-10-10
Agency: Department of the Treasury, Office of Foreign Assets Control
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons that have been placed on OFAC's Specially Designated Nationals and Blocked Persons List based on OFAC's determination that one or more applicable legal criteria were satisfied. All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them.
Notice of OFAC Sanctions Actions
Document Number: 2018-21955
Type: Notice
Date: 2018-10-10
Agency: Department of the Treasury, Office of Foreign Assets Control
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is updating the entries of 462 persons on OFAC's Specially Designated National and Blocked Persons List (SDN List).
Guidance Related to Section 951A (Global Intangible Low-Taxed Income)
Document Number: 2018-20304
Type: Proposed Rule
Date: 2018-10-10
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations implementing section 951A of the Internal Revenue Code. Section 951A was added to the Internal Revenue Code by the Tax Cuts and Jobs Act, which was enacted on December 22, 2017. This document also contains proposed regulations under sections 951, 1502, and 6038. These proposed regulations would affect United States shareholders of controlled foreign corporations.
Proposed Collection; Comment Request for Forms 1065, 1065-B, 1066, 1120, 1120-C, 1120-F, 1120-H, 1120-ND, 1120-S, 1120-SF, 1120-FSC, 1120-L, 1120-PC, 1120-REIT, 1120-RIC, 1120-POL, and Related Attachments
Document Number: 2018-21846
Type: Notice
Date: 2018-10-09
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general 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 (PRA). The IRS is soliciting comments on forms used by business entity taxpayers: Forms 1065, 1065-B, 1066, 1120, 1120-C, 1120-F, 1120-H, 1120-ND, 1120-S, 1120-SF, 1120-FSC, 1120- L, 1120-PC, 1120-REIT, 1120-RIC, 1120-POL; and related attachments to these forms (see the Appendix to this notice).
Proposed Collection; Comment Request on Information Collection for Treasury Decision 9142 (Final)
Document Number: 2018-21769
Type: Notice
Date: 2018-10-09
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general 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 Treasury Decision 9142 (Final), Deemed IRAs In Qualified Retirement Plans.
Notice of OFAC Sanctions Actions
Document Number: 2018-21738
Type: Notice
Date: 2018-10-05
Agency: Department of the Treasury, Office of Foreign Assets Control
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons that have been placed on OFAC's Specially Designated Nationals and Blocked Persons List based on OFAC's determination that one or more applicable legal criteria were satisfied. All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them.
Section 707 Regarding Disguised Sales, Generally; Correction
Document Number: 2018-21673
Type: Rule
Date: 2018-10-05
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to final regulations (TD 9787) that were published in the Federal Register on Wednesday, October 5, 2016. The final regulations are under sections 707 and 752 of the Internal Revenue Code.
OCC Guidelines Establishing Standards for Recovery Planning by Certain Large Insured National Banks, Insured Federal Savings Associations, and Insured Federal Branches; Technical Amendments; Correction
Document Number: 2018-21638
Type: Proposed Rule
Date: 2018-10-04
Agency: Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
This document corrects the SUPPLEMENTARY INFORMATION section to a proposed rule published in the Federal Register on September 19, 2018, regarding OCC's enforceable guidelines relating to recovery planning standards for insured national banks, insured federal savings associations, and insured federal branches (Guidelines). This document corrects two technical errors.
Notice of OFAC Sanctions Actions
Document Number: 2018-21591
Type: Notice
Date: 2018-10-04
Agency: Department of the Treasury, Office of Foreign Assets Control
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons and aircraft that have been placed on OFAC's Specially Designated Nationals and Blocked Persons List based on OFAC's determination that one or more applicable legal criteria were satisfied. All property and interests in property subject to U.S. jurisdiction of these persons and this aircraft are blocked, and U.S. persons are generally prohibited from engaging in transactions with them.
Public Meeting of Citizens Coinage Advisory Committee
Document Number: 2018-21335
Type: Notice
Date: 2018-10-02
Agency: United States Mint, Department of Treasury, Department of the Treasury
The United States Mint announces the Citizens Coinage Advisory Committee (CCAC) public meeting scheduled for October 16, 2018. Date: October 16, 2018. Time: 10:00 a.m. to 3:30 p.m. Location: Second Floor Conference Room, United States Mint, 801 9th Street NW, Washington, DC 20220. Subject: Review and discussion of concepts for the 2021 and 2022 Native American $1 Coins; design concepts for the 2021-2025 American Eagle Platinum Coin series; and candidate designs for the 2020 Coast Guard Medal and the 2020 Air Force Medal. Interested members of the public may either attend the meeting in person or dial in to listen to the meeting at (866) 564-9287/Access Code: 62956028. Interested persons should call the CCAC HOTLINE at (202) 354-7502 for the latest update on meeting time and room location. Any member of the public interested in submitting matters for the CCAC's consideration is invited to submit them by email to info@ccac.gov. The CCAC advises the Secretary of the Treasury on any theme or design proposals relating to circulating coinage, bullion coinage, Congressional Gold Medals, and national and other medals; advises the Secretary of the Treasury with regard to the events, persons, or places to be commemorated by the issuance of commemorative coins in each of the five calendar years succeeding the year in which a commemorative coin designation is made; and makes recommendations with respect to the mintage level for any commemorative coin recommended. Members of the public interested in attending the meeting in person will be admitted into the meeting room on a first-come, first-serve basis as space is limited. Conference Room A&B can accommodate up to 50 members of the public at any one time. In addition, all persons entering a United States Mint facility must adhere to building security protocol. This means they must consent to the search of their persons and objects in their possession while on government grounds and when they enter and leave the facility, and are prohibited from bringing into the facility weapons of any type, illegal drugs, drug paraphernalia, or contraband. The United States Mint Police Officer conducting the screening will evaluate whether an item may enter into or exit from a facility based upon federal law, Treasury policy, United States Mint Policy, and local operating procedure; and all prohibited and unauthorized items will be subject to confiscation and disposal.
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Annual Certification and Data Collection Report
Document Number: 2018-21320
Type: Notice
Date: 2018-10-01
Agency: Department of the Treasury
The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests.
Proposed Collection; Comment Request for Form 461
Document Number: 2018-21292
Type: Notice
Date: 2018-10-01
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general 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 Form 461, Limitation on Business Losses.
Proposed Collection; Comment Request for Regulation Project
Document Number: 2018-21291
Type: Notice
Date: 2018-10-01
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning employer's quarterly federal tax return, adjusted employer's quarterly federal tax return or claim for refund, and allocation schedule for aggregated filers.
Proposed Collection; Comment Request for Regulation Project
Document Number: 2018-21290
Type: Notice
Date: 2018-10-01
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning interest rates and appropriate foreign loss payment patterns for determining the qualified insurance income of certain controlled corporations.
Proposed Collection; Comment Request for Regulation Project
Document Number: 2018-21288
Type: Notice
Date: 2018-10-01
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning return of U.S. persons with respect to certain foreign partnerships and consent to extend the time to assess tax pursuant to the gain deferral method.
Proposed Collection; Comment Request for Regulation Project
Document Number: 2018-21284
Type: Notice
Date: 2018-10-01
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning distilled spirits credit.
Proposed Collection; Comment Request for Regulation Project
Document Number: 2018-21283
Type: Notice
Date: 2018-10-01
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning combined information reporting.
Proposed Collection; Comment Request on Information Collection for Treasury Decision 8396
Document Number: 2018-21281
Type: Notice
Date: 2018-10-01
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general 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 Treasury Decision 8396, Conclusive Presumption of Worthlessness of Debts Held by Banks (FI-34-91).
Proposed Agency Information Collection Activities; Comment Request
Document Number: 2018-21105
Type: Notice
Date: 2018-09-28
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
In accordance with the requirements of the Paperwork Reduction Act of 1995 (PRA), the OCC, the Board, and the FDIC (the agencies) may not conduct or sponsor, and a respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The Federal Financial Institutions Examination Council (FFIEC), of which the agencies are members, has approved the agencies' publication for public comment of a proposal to revise and extend the Consolidated Reports of Condition and Income for a Bank with Domestic and Foreign Offices (FFIEC 031), the Consolidated Reports of Condition and Income for a Bank with Domestic Offices Only (FFIEC 041), and the Consolidated Reports of Condition and Income for a Bank with Domestic Offices Only and Total Assets Less Than $1 Billion (FFIEC 051), which are currently approved collections of information. The Consolidated Reports of Condition and Income are commonly referred to as Call Reports. The FFIEC has also approved the Board's publication for public comment, on behalf of the agencies, of a proposal to revise and extend the Report of Assets and Liabilities of U.S. Branches and Agencies of Foreign Banks (FFIEC 002) and the Report of Assets and Liabilities of a Non-U.S. Branch that is Managed or Controlled by a U.S. Branch or Agency of a Foreign (Non-U.S.) Bank (FFIEC 002S) as well as the agencies' publication for public comment of proposals to revise and extend the Foreign Branch Report of Condition (FFIEC 030), the Abbreviated Foreign Branch Report of Condition (FFIEC 030S), and the Regulatory Capital Reporting for Institutions Subject to the Advanced Capital Adequacy Framework (FFIEC 101), all of which are currently approved collections of information. The proposed revisions generally address the revised accounting for credit losses under the Financial Accounting Standards Board's (FASB) Accounting Standards Update (ASU) No. 2016-13, ``Financial InstrumentsCredit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments'' (ASU 2016-13). This proposal also includes reporting changes for regulatory capital related to implementing the agencies' recent notice of proposed rulemaking on the implementation and capital transition for the current expected credit losses methodology (CECL). In addition, this notice includes other revisions to the Call Reports and the FFIEC 101 resulting from two sections of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA), effective upon enactment on May 24, 2018, that affect the information reported in these reports and for which the agencies submitted emergency review requests to OMB that OMB has approved. The proposed revisions related to ASU 2016-13 would begin to take effect March 31, 2019, for reports with quarterly report dates and December 31, 2019, for reports with an annual report date, with later effective dates for certain respondents. At the end of the comment period for this notice, the comments received will be reviewed to determine whether the FFIEC and the agencies should modify the proposed revisions to one or more of the previously identified reports. As required by the PRA, the agencies will then publish a second Federal Register notice for a 30-day comment period and submit the final Call Reports, FFIEC 002, FFIEC 002S, FFIEC 030, FFIEC 030S, and FFIEC 101 to OMB for review and approval.
Regulatory Capital Treatment for High Volatility Commercial Real Estate (HVCRE) Exposures
Document Number: 2018-20875
Type: Proposed Rule
Date: 2018-09-28
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies) are proposing to amend the regulatory capital rule to revise the definition of ``high volatility commercial real estate (HVCRE) exposure'' to conform to the statutory definition of ``high volatility commercial real estate acquisition, development, orconstruction (HVCRE ADC) loan,'' in accordance with section 214 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). Additionally, to facilitate the consistent application of the revised HVCRE exposure definition, the agencies propose to interpret certain terms in the revised HVCRE exposure definition generally consistent with their usage in other relevant regulations or the instructions to the Consolidated Reports of Condition and Income (Call Report), where applicable, and request comment on whether any other terms in the revised definition would also require interpretation.
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple FinCEN Information Collection Requests
Document Number: 2018-21077
Type: Notice
Date: 2018-09-27
Agency: Department of the Treasury
The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests.
Agency Information Collection Activities; Proposed Collection; Comment Request; Generic Clearance for Meaningful Access Information Collections
Document Number: 2018-21076
Type: Notice
Date: 2018-09-27
Agency: Department of the Treasury
The Department of the Treasury, on behalf of itself and the United States Bureau of Engraving and Printing (BEP) and as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other federal agencies to comment on the proposed information collections listed below, in accordance with the Paperwork Reduction Act of 1995.
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple IRS Information Collection Requests
Document Number: 2018-21065
Type: Notice
Date: 2018-09-27
Agency: Department of the Treasury
The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests.
Agency Information Collection Activities; Proposed Collection; Comment Request; Multiple Departmental Offices Information Collection Requests
Document Number: 2018-21005
Type: Notice
Date: 2018-09-27
Agency: Department of the Treasury
The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other federal agencies to comment on the proposed information collections listed below, in accordance with the Paperwork Reduction Act of 1995.
Open Meeting of the Taxpayer Advocacy Panel Notices and Correspondence Project Committee; Correction
Document Number: 2018-21002
Type: Notice
Date: 2018-09-27
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
In the Federal Register notice that was originally published on September 11, 2018, (Volume 83, Number 176, Page 46019) the Point of Contact information was changed from Otis Simpson, (202) 317-3332, to Gregory Giles, 240-613-6478. All meeting details remain unchanged.