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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:
1505-0167
ICR Reference No:
201503-1505-002
Status:
Historical Active
Previous ICR Reference No:
201406-1505-001
Agency/Subagency:
TREAS/DO
Agency Tracking No:
OFAC
Title:
Cuban Remittance Certification
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Emergency
Approval Requested By:
08/24/2015
OIRA Conclusion Action:
Approved without change
Conclusion Date:
10/19/2015
Retrieve Notice of Action (NOA)
Date Received in OIRA:
08/19/2015
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
04/30/2016
6 Months From Approved
11/30/2017
Responses
7,000,000
0
6,000,000
Time Burden (Hours)
116,667
0
100,000
Cost Burden (Dollars)
0
0
0
Abstract:
The information collected is used by OFAC to implement its compliance and enforcement programs pursuant to the Regulations, including with respect to whether remitters are exceeding the restrictions on the frequency, payees, and dollar amounts of remittances. Specifically, banking institutions providing remittance forwarding services are required to collect from persons who use such services a certification indicating the relevant remittance provisions of the Regulations. Such banking institutions will retain this information on file for five years, subject to audit by the U.S. Department of the Treasury for compliance, civil penalty, and enforcement purposes. Specifically, the information may be requested by OFAC to verify that persons sending remittances to Cuba were licensed by OFAC to do so and facilitate OFAC's addressing of potential violations of the Regulations.
Emergency Justfication:
On January 16, 2015, OFAC amended the Regulations to implement certain policy changes announced by the President on December 17, 2014 to further engage and empower the Cuban people. Among other changes, OFAC generally authorized certain entities to forward authorized remittances and modified the information collection requirements on these remittance forwarders. See 31 CFR § 515.572(a). Separately, OFAC removed the suggested form TD F 90-22.52 (Cuban Remittance Affidavit) for the collection of that information, as in the information collection request currently approved by OMB (No. 1505-0167). In addition, OFAC raised the limit on periodic remittances to Cuba from $500 in any consecutive three-month period to $2,000 in any consecutive three-month period. As to information collection requirements, OFAC previously required RFs to collect information showing compliance with relevant remittance provisions and/or provide a voluntary remittance affidavit form including, within the relevant category of authorized remittance, the name of the recipient (and if applicable, relation, date of birth, visa number/date), remitter’s address, contact info, mother’s maiden name, and date of birth. OFAC now requires only that persons subject to U.S. jurisdiction providing remittance forwarding services authorized pursuant to 31 CFR § 515.572 retain for at least five years from the date of the transaction a certification from each customer indicating the section of 31 CFR part 515 that authorizes the person to send remittance to Cuba In addition, banking institutions providing remittance forwarding services must maintain on file the names and addresses of individual remitters, the number and amount of each remittance, and the name and address of each recipient, as applicable. OFAC anticipates that the regulatory amendments raising the limits on and generally authorizing certain additional categories of remittances will increase the number of filers. OFAC anticipates that because it requires signing a certification, the time burden of the information collection for each filer is one minute per filing, which is the same as before. OFAC anticipates that the time burden of the information collection overall, therefore, has increased, due solely to the anticipated increased number of filers. Because OFAC has simplified its requirements, and no longer requires regular reports to OFAC, OFAC anticipates that the burden imposed on banking institutions providing remittance forwarding services has decreased. OFAC is in the process of publishing a 60 day Federal Register Notice for public comment on the changes to the information collection requirement, after which OFAC plans to resubmit for OMB authorization for continued collection.
Authorizing Statute(s):
US Code:
22 USC 6021-6091
US Code:
22 USC 6001-6010
US Code:
50 USC App. 1-44
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
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
Cuban Remittance Certification
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
7,000,000
6,000,000
0
1,000,000
0
0
Annual Time Burden (Hours)
116,667
100,000
0
16,667
0
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:
On January 16, 2015, OFAC amended the Regulations to implement certain policy changes announced by the President on December 17, 2014 to further engage and empower the Cuban people. Among other changes, OFAC generally authorized certain entities to forward authorized remittances and modified the information collection requirements on these remittance forwarders. See 31 CFR § 515.572(a). Separately, OFAC removed the suggested form TD F 90-22.52 (Cuban Remittance Affidavit) for the collection of that information, as in the information collection request currently approved by OMB (No. 1505-0167). In addition, OFAC raised the limit on periodic remittances to Cuba from $500 in any consecutive three-month period to $2,000 in any consecutive three-month period. The anticipated number of respondents is 4,000,000. It is anticipated that, of those, 1,000,000 will file four times annually (4,000,000 filings), and 3,000,000 will file once a year (3,000,000 filings), totaling to 7,000,000 filings. It is anticipated that the time required to complete the certification is approximately one minute. At one minute each, the certifications to be completed by individuals under a general authorization in the Regulations will take approximately 7,000,000 minutes (116,667 hours) annually in the aggregate.
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]?
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:
Kevin Whaley 202 622-5947 kevin.whaley@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:
08/19/2015
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