Rules and Regulations. Notice and request for comments

Agency: Departmental Offices, Treasury Department
Action: Notice and request for comments
Citation: FR Doc. 2018-19031

Summary

The Department of the Treasury, as part of its continuing effort to reduce paperwork burdens, invites the general public and other Federal agencies to comment on an information collection that is due for renewed approval by the Office of Management and Budget. The Office of International Affairs within the Department of the Treasury is soliciting comments concerning recordkeeping requirements associated with Reporting of International Capital and Foreign Currency Transactions and Positions—31 CFR part 128.

Dates

Written comments should be received on or before November 5, 2018 to be assured of consideration.

Supplementary Information

Title: 31 CFR part 128, Reporting of International Capital and Foreign Currency Transactions and Positions. OMB Number: 1505-0149. Abstract: 31 CFR part 128 establishes general guidelines for reporting on United States claims on and liabilities to foreigners; on transactions in securities with foreigners; and on the monetary reserves of the United States as provided for by the International Investment and Trade in Services Survey Act and the Bretton Woods Agreements Act. In addition, 31 CFR part 128 establishes general guidelines for reporting on the nature and source of foreign currency transactions of large U.S. business enterprises and their foreign affiliates. This regulation includes a recordkeeping requirement, § 128.5, which is necessary to enable the Office of International Affairs to verify reported information and to secure additional information concerning reported information as may be necessary. The recordkeepers are U.S. persons required to file reports covered by these regulations. The forms prescribed by the Secretary and covered by this regulation, § 128.1(c), are Treasury International Capital (TIC) Forms BC, BL-1, BL-2, BQ-1, BQ-2, BQ-3, CQ-1, CQ-2, D, S, SLT and Treasury Foreign Currency Forms FC-1, FC-2, and FC-3. Current Actions: No changes to recordkeeping requirements are proposed at this time. Type of Review: Extension of a currently approved data collection. Affected Public: Business or other for-profit organizations. Estimated Number of Record keepers: 2,204. Estimated Average Time per Respondent: One-third hour per respondent per filing. Estimated Total Annual Burden Hours: 7,391 hours, based on 22,176 responses per year. Request for Comments: Comments submitted in response to this notice will be summarized and/or included in the request for Office of Management and Budget approval. All comments will become a matter of public record. The public is invited to submit written comments concerning: (a) Whether the recordkeeping requirements in 31 CFR part 128.5 are necessary for the proper performance of the functions of the Office, including whether the information will have practical uses; (b) the accuracy of the above estimate of the burdens; (c) ways to enhance the quality, usefulness and clarity of the information to be collected; (d) ways to minimize the reporting and/or record keeping burdens on respondents, including the use of information technologies to automate the collection of the data; and (e) estimates of capital or start-up costs of operation, maintenance and purchase of services to provide information. Dwight Wolkow, Administrator, International Portfolio Investment Data Systems. Emily Weis, Financial Analyst. [FR Doc. 2018-19031 Filed 8-31-18; 8:45 am]