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View ICR - OIRA Conclusion

OMB Control No: 1505-0164	ICR Reference No: 201209-1505-003
Status: Historical Active	Previous ICR Reference No: 201205-1505-001
Agency/Subagency: TREAS/DO	Agency Tracking No:
Title: Reporting, Procedures and Penalties Regulations
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/08/2013
Retrieve Notice of Action (NOA)	Date Received in OIRA: 09/28/2012
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2016	36 Months From Approved	03/31/2013
Responses	42,086	0	29,045
Time Burden (Hours)	45,376	0	33,750
Cost Burden (Dollars)	453,760	0	337,500

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion	Change Due to Adjustment in Estimate
Annual Number of Responses	42,086	29,045	49,141	-36,100
Annual Time Burden (Hours)	45,376	33,750	21,276	-9,650
Annual Cost Burden (Dollars)	453,760	337,500	202,538	-86,278

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: Adjustments in the agency estimate was made by removing duplicate information collections (ICs) and arrange the collection instruments into one single IC. This adjustment resulted in a decrease of 18,050 responses and a decrease of 4,825 burden hours. The estimated 42,086 annual responses represent a 13,041 annual response increase from the 29,045 annual responses currently approved collection for 31 CFR part 501. This is a program change due to agency discretion and is the result of an expected increase in the number of annual reports submitted pursuant to § 501.603 based on trends from the past 3 years and stems from an increased number of OFAC sanctions programs. The corresponding increase in total annual hours requested to 45,376 hours reflects the additional hours expected due to the increase in § 501.603 annual reports.