View Information Collection Request (ICR) Package
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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:
0608-0066
ICR Reference No:
201505-0608-002
Status:
Historical Active
Previous ICR Reference No:
201207-0608-003
Agency/Subagency:
DOC/EASA
Agency Tracking No:
BE-45
Title:
Quarterly Survey of Insurance Transactions by U.S. Insurance Companies with Foreign Persons
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:
12/06/2015
Retrieve Notice of Action (NOA)
Date Received in OIRA:
10/15/2015
Terms of Clearance:
Prior to the commencement of the Quarterly Survey of Insurance Transactions by U.S. Insurance Companies with Foreign Persons distribution, the Bureau of Economic Analysis (BEA) shall provide on its Internet site prominent links to the finalized survey, including instructions and cover letters. The final survey and letters shall reflect any changes in the survey year, OMB number expiration date, and BEA leadership from those submitted for review.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
12/31/2018
36 Months From Approved
12/31/2015
Responses
2,000
0
2,140
Time Burden (Hours)
15,300
0
15,440
Cost Burden (Dollars)
0
0
0
Abstract:
This survey will be used in monitoring U.S. international insurance transactions, analyzing their impact on the U.S. and foreign economies, compiling the international transactions, national income and product, and input-output accounts of the United States, supporting U.S. international trade policy on insurance services, assessing U.S. competitiveness in international trade in services, and improving the ability of U.S. businesses to identify and evaluate market opportunities. Respondents will be U.S. insurance companies that do business internationally.
Authorizing Statute(s):
PL:
Pub.L. 94 - 472 22 U.S.C. 3101 - 3108
Name of Law: International Investment and Trade in Services Survey Act
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
60-day Notice:
Federal Register Citation:
Citation Date:
80 FR 19631
04/13/2015
30-day Notice:
Federal Register Citation:
Citation Date:
80 FR 39052
07/08/2015
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
Quarterly Survey of Insurance Transactions by U.S. Insurance Companies with Foreign Persons (Mandatory)
BE-45
Quarterly Survey of Insurance Transactions by U.S. Insurance Companies with Foreign Persons
Quarterly Survey of Insurance Transactions by U.S. Insurance Companies with Foreign Persons (Voluntary Reporting)
BE-45
Quarterly Survey of Insurance Transactions by U.S. Insurance Companies with Foreign Persons
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
2,000
2,140
0
0
-140
0
Annual Time Burden (Hours)
15,300
15,440
0
0
-140
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
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:
The estimated change in the burden hours is a decrease of 140 hours (from 15,440 to 15,300). There has been an overall decrease, from 535 to 500, in the estimated number of respondents meeting the (unchanged) mandatory requirements for filing on a quarterly basis. The overall decrease in reporters is due to consolidations among numerous larger respondents providing mandatory data; resulting in 15 fewer completed surveys, as well as 20 fewer companies being expected to file other responses.
Annual Cost to Federal Government:
$375,000
Does this IC contain surveys, censuses, or employ statistical methods?
Yes
Part B of Supporting Statement
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
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:
Christopher Stein 202 606-9850
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:
10/15/2015
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