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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
1506-0012
ICR Reference No:
201008-1506-005
Status:
Historical Inactive
Previous ICR Reference No:
200812-1506-001
Agency/Subagency:
TREAS/FINCEN
Agency Tracking No:
Title:
Designation of Exempt Person
Type of Information Collection:
No material or nonsubstantive change to a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Improperly submitted and continue
Conclusion Date:
01/27/2011
Retrieve Notice of Action (NOA)
Date Received in OIRA:
09/14/2010
Terms of Clearance:
Per the change justification memo, changes to the ICR were made to correct for the double-counting of burden captured by other collections, however no actual changes to burden hours were made to the collection package. Please resubmit collection correcting for this.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
06/30/2011
06/30/2011
06/30/2011
Responses
64,999
0
64,999
Time Burden (Hours)
97,499
0
97,499
Cost Burden (Dollars)
0
0
0
Abstract:
This final rule modifies the way Banks will use the form to exempt certain customers from the requirement to report to the Treasury a customer's cash transactions exceeding $10,000. This action updates this ICR to reflect the addition of 31 CFR 103.27(a)(3), 31 CFR 103.27(d), as being renewed as part of this control number. The two additional references constitute two hours to the existing burden. This action is the result of the reallocation of burden from 1506-0009 to 1506-0012
Authorizing Statute(s):
US Code:
31 USC 5311-5332
Name of Law: Bank Secrecy Act
Citations for New Statutory Requirements:
US Code: 31 USC 5311-5332 Name of Law: Bank Secrecy Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
1506-AA90
Final or interim final rulemaking
73 FR 74010
12/05/2008
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
73 FR 5628
01/30/2008
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Designation of Exempt Person
110
Designation of Exempt Person
Burden increases because of Program Change due to Agency Discretion:
No
Burden Increase Due to:
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
This NPRM, if approved, reduces the number of information collection items on the form that depository institutions must complete to exempt a eligible customer from CTR filings.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Uncollected
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Russell Stephenson 202 354-6012
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
09/14/2010
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