[Federal Register Volume 89, Number 210 (Wednesday, October 30, 2024)]
[Notices]
[Pages 86412-86414]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-25231]
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DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Multiple FinCEN Information Collection
Requests
AGENCY: Departmental Offices, U.S. Department of the Treasury.
ACTION: Notice of Information Collection; request for comment.
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SUMMARY: 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.
DATES: Comments should be received on or before November 29, 2024 to be
assured of consideration.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to www.reginfo.gov/public/do/
[[Page 86413]]
PRAMain. Find this particular information collection by selecting
``Currently under 30-day Review--Open for Public Comments'' or by using
the search function.
FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be
obtained from Spencer W. Clark by emailing [email protected], calling
(202) 927-5331, or viewing the entire information collection request at
www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
Financial Crimes Enforcement Network (FinCEN)
1. Title: Transactions of Exempt Persons Regulations, and FinCEN
Form 110, Designation of Exempt Persons (DOEP) Report.
OMB Control Number: 1506-0012.
Type of Review: Extension without change of a currently approved
collection.
Description: Under 31 U.S.C. 5313, the Secretary is authorized to
require financial institutions to report certain currency transactions.
Regulations implementing 31 U.S.C. 5313 are found at 31 CFR 1010.310
through 1010.314, 1021.311, and 1021.313. The Money Laundering
Suppression Act of 1994 amended the BSA to create certain mandatory
exemptions applicable to banks from the requirement for financial
institutions to file currency transaction reports (CTRs), and to give
the Secretary authority to create additional such exemptions.
Regulations implementing this exemption authority, including by
requiring the collection of information on FinCEN Form 110, Designation
of Exempt Person (DOEP Report), are found at 31 CFR 1020.315.
Form: FinCEN Form 110.
Affected Public: Banks.
Estimated Number of Respondents: 10,062.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 15,105.
Estimated Time per Response: 1 hour.
Estimated Total Annual Burden Hours: 15,105.
2. Title: Anti-Money Laundering Program Requirements for Casinos.
OMB Control Number: 1506-0051.
Type of Review: Extension without change of a currently approved
collection.
Description: Pursuant to 31 U.S.C. 5318(h)(1), financial
institutions must establish AML/CFT programs to guard against money
laundering and the financing of terrorism. Such programs must include,
at a minimum: (a) the development of internal policies, procedures, and
controls; (b) the designation of a compliance officer; (c) an ongoing
employee training program; and (d) an independent audit function to
test programs. On March 12, 1993, FinCEN issued regulations, under
separate statutory authority codified at 31 U.S.C. 5318(a)(2),
requiring casinos to develop and implement written BSA compliance
programs. FinCEN subsequently amended those regulations after passage
of the USA PATRIOT Act to state that a casino would be ``deemed to
satisfy the requirements of 31 U.S.C. 5318(h)(1) if it implements and
maintains'' an AML program, as described in'' 31 CFR 1021.210(b).
Form: None.
Affected Public: Casinos.
Estimated Number of Respondents: 1,277.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 1,277.
Estimated Time per Response: 100 hours and 10 minutes.
Estimated Total Annual Burden Hours: 127,912.
3. Title: Regulations Requiring Additional Records to be Made and
Retained by Dealers in Foreign Exchange (31 CFR 1022.410).
OMB Control Number: 1506-0052.
Type of Review: Extension without change of a currently approved
collection.
Description: Pursuant to 31 CFR 1022.410(a), a dealer in foreign
exchange must secure and maintain a record of the taxpayer
identification number of certain persons for whom a transaction account
is opened or a line of credit is extended. The taxpayer identification
number must be obtained and recorded within 30 days of the date the
account is opened or credit line extended, or longer if the person
opening the account or seeking the line of credit needs to apply for a
taxpayer identification or social security number. For non-resident
aliens, a dealer in foreign exchange is required to record the person's
passport number or a description of some other government document used
to verify his or her identity. Pursuant to 31 CFR 1022.410(b), a dealer
in foreign exchange must also retain the original or a copy of nine
types of documents as further detailed in the supporting statement.
Form: None.
Affected Public: Dealers in Foreign Exchange.
Estimated Number of Respondents: 3,623.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 3,623.
Estimated Time per Response: 16 hours.
Estimated Total Annual Burden Hours: 57,968 hours.
4. Title: Regulations Requiring Additional Records to be Made and
Retained by Brokers or Dealers in Securities (31 CFR 1023.410).
OMB Control Number: 1506-0053.
Type of Review: Extension without change of a currently approved
collection.
Description: Pursuant 31 CFR 1023.410(a), a broker or dealer in
securities is required to secure and maintain a record of certain
identifying information for persons who have opened brokerage accounts
during the period from June 30, 1972 to October 1, 2003. The customer
identification program (CIP) requirement for brokers or dealers in
securities has effectively superseded that requirement, and CIP
requirements are not considered in connection with this OMB control
number renewal.
Pursuant to 31 CFR 1023.410(b), a broker or dealer in securities
must retain an original or copy of: (1) each document granting
signature or trading authority over each customer's account; (2) a
record of each remittance or transfer of funds, or of currency, checks,
other monetary instruments, investment securities, or credit, of more
than $10,000 to a person, account, or place outside the United States;
(3) a record of each receipt of currency, other monetary instruments,
investment securities, or checks, and of each transfer of funds or
credit, of more than $10,000 on any one occasion, not through a
domestic financial institution, from any person, account, or place
outside the United States; and (4) each record described in 17 CFR
240.17a-3(a)(1) through (3) and (5) through (9). To the extent that
these records include originals or copies of checks, drafts, monetary
instruments, investment securities, or other similar instruments,
copies of front and back of such instruments must generally be
retained. If no record is made in the ordinary course of business of
any transaction with respect to which records are required to be
retained, then such a record shall be prepared in writing. Records must
be maintained for five years.
Form: None.
Affected Public: Brokers or Dealers in Securities.
Estimated Number of Respondents: 3,478.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 3,478.
Estimated Time per Response: 100 hours.
Estimated Total Annual Burden Hours: 347,800.
[[Page 86414]]
5. Title: Records to be made and retained by financial institutions
(31 CFR 1010.410 and 31 CFR 1022.420).
OMB Control Number: 1506-0058.
Type of Review: Extension without change of a currently approved
collection.
Description: Each financial institution must retain an original or
copy of records related to extensions of credit in excess of $10,000
(other than those secured by real property), and records related to
transfers of funds, currency, other monetary instruments, checks,
investment securities, or credit of more than $10,000 to or from the
United States (31 CFR 1010.410(a) through (d)). Banks and non-bank
financial institutions must also maintain records related to, and
include certain information as part of, funds transfers or transmittals
of funds involving more than $3,000 (31 CFR 1010.410(e) and (f)).
In addition, under 31 CFR 1022.420, each provider or seller of
prepaid access is required to maintain access to transactional records
generated in the ordinary course of business that would be needed to
reconstruct prepaid access activation, loads, reloads, purchases,
withdrawals, transfers, or other prepaid-related transactions.
Form: None.
Affected Public: Financial Institutions.
Estimated Number of Respondents: 273,832.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 320,352.
Estimated Time per Response: Varies from 5 to 50 hours depending on
requirement and type of institution.
Estimated Total Annual Burden Hours: 4,015,839.
6. Title: Additional Records to be Made and Retained by Banks (31
CFR 1020.410).
OMB Control Number: 1506-0059.
Type of Review: Extension without change of a currently approved
collection.
Description: A bank must retain an original or copy of certain
records, as specified in section 31 CFR 1020.410.
Form: None.
Affected Public: Banks.
Estimated Number of Respondents: 10,062.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 10,062.
Estimated Time per Response: 100 hours.
Estimated Total Annual Burden Hours: 1,006,200.
(Authority: 44 U.S.C. 3501 et seq.)
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2024-25231 Filed 10-29-24; 8:45 am]
BILLING CODE 4810-02-P