Department of the Treasury November 9, 2021 – Federal Register Recent Federal Regulation Documents

The Community Development Financial Institutions Fund (CDFI Fund) published a document in the Federal Register of October 14, 2021, concerning the Notice of Funds Availability (NOFA) inviting Applications for the Fiscal Year (FY) 2021 Funding Round of the Bank Enterprise Award Program (BEA Program). On page 57256, in Table 2 Eligibility Requirements for Applicants, under the Criteria header for CDFI Applicant, under the Description header, it incorrectly states that an eligible Certified CDFI Applicant is an Insured Depository Institution that must be certified as a CDFI as of December 31, 2020 when in fact an eligible Certified CDFI Applicant is an Insured Depository Institution that is certified or has submitted a Certification application by December 31, 2020, has been Certified as a CDFI as of the October 14, 2021 publication date of this NOFA in the Federal Register, and maintains its status as a Certified CDFI at the time BEA Program Awards are announced. Processing this Action will correct the misinformation that was published.

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 Guidance on Passive Foreign Company (PFIC) Purging Elections.