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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:
1505-0164
ICR Reference No:
201906-1505-004
Status:
Historical Active
Previous ICR Reference No:
201512-1505-003
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:
06/24/2019
Retrieve Notice of Action (NOA)
Date Received in OIRA:
06/24/2019
Terms of Clearance:
Although this collection is being pre-approved, OFAC will submit a further request for approval should there be any material change relevant to the collection or within 14 months, whichever is sooner. Additionally, OFAC should request comment from financial institutions on the cost associated with the production of custom applications or the licensing of software used to identify and interdict activity relevant to the OFAC programs associated with this collection.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
06/30/2021
36 Months From Approved
06/30/2019
Responses
31,601
0
44,091
Time Burden (Hours)
14,850
0
47,379
Cost Burden (Dollars)
0
0
0
Abstract:
Submissions will provide the U.S. Government with information to be used in enforcing various economic sanctions programs administered by OFAC under 31 CFR Chapter V.
Authorizing Statute(s):
US Code:
22 USC 287c
US Code:
50 USC App. 1-44
US Code:
50 USC 1701-1706
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
1505-ZA03
Final or interim final rulemaking
84 FR 29055
06/21/2019
Federal Register Notices & Comments
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
Reporting, Procedures and Penalties Regulations
TD-F 93.08, TD F 90-22.50, TD F 93.04, TD F 93.02, TD F 98-22.61, TD F 93.07
Annual Report of Blocked Property
,
Trade Sanctions Reform and Export Enhancement Application
,
Report of Blocked Transactions
,
Report of Rejected Transactions
,
OFAC License Application Cover Letter
,
Report on Blocked Property - Tangible/Real/Other Non-Financial Property
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
31,601
44,091
0
12,686
-25,176
0
Annual Time Burden (Hours)
14,850
47,379
0
3,709
-36,238
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Changing Regulations
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The Regulations set forth standard reporting and recordkeeping requirements and license application and other procedures relevant to the economic sanctions programs administered by OFAC. OFAC is updating six sections of the Regulations. In particular, OFAC is amending the Regulations to provide updated instructions and incorporate new requirements for parties filing reports on blocked property, unblocked property, or rejected transactions. In addition, OFAC is revising the licensing procedures section of these Regulations to include information regarding OFAC’s electronic license application procedures, and to provide additional instructions regarding applications for the release of blocked funds. The estimated 31,601 responses cited in Item 12 represents a decrease from the previously approved collection for 31 CFR part 501. While difficult to quantify burden reduction factors precisely largely due to the broad range of potential reporting and the diverse range of respondents, OFAC assesses that the reduction in burden primarily reflects adjustments in agency estimates and methodology, external factors, and better data. Such reduction counteracts certain increases due to agency program changes. Regarding the time and cost burden, the reduced number of responses corresponds to a decrease in the total annual burden hours and associated cost burden.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Does this ICR request any personally identifiable information (see
OMB Circular No. A-130
for an explanation of this term)? Please consult with your agency's privacy program when making this determination.
Yes
Does this ICR include a form that requires a Privacy Act Statement (see
5 U.S.C. §552a(e)(3)
)? Please consult with your agency's privacy program when making this determination.
Yes
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]?
No
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:
Susan Demske 202 622-2608 susan.demske@treasury.gov
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:
02/28/2019
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