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:
1505-0024
ICR Reference No:
201910-1505-002
Status:
Historical Active
Previous ICR Reference No:
201608-1505-004
Agency/Subagency:
TREAS/DO
Agency Tracking No:
Title:
Treasury International Capital (TIC) Form CQ-1, Report of Financial Liabilities to, and Financial Claims on, Unaffiliated Foreign Residents, and Form CQ-2, Report of Commercial Liabilities to, and Com
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:
01/29/2020
Retrieve Notice of Action (NOA)
Date Received in OIRA:
12/19/2019
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
01/31/2023
36 Months From Approved
01/31/2020
Responses
500
0
572
Time Burden (Hours)
3,350
0
3,832
Cost Burden (Dollars)
0
0
0
Abstract:
Forms CQ-1 and CQ-2 are required by law to collect timely information on international portfolio capital movements, in particular data on financial and commercial liabilities to, and claims on, unaffiliated foreign residents held by non-financial enterprises in the U.S. This information is necessary in the computation of the U.S. balance of payments accounts and the U.S. international investment position, and in the formulation of U.S. international financial and monetary policies.
Authorizing Statute(s):
EO: EO 10033 Name/Subject of EO: Regulations governing the providing of statistical information to intergovernmental organizations
US Code:
22 USC 3103
Name of Law: International Investment and Trade in Services Survey Act
US Code:
22 USC 286f
Name of Law: Bretton Woods Agreements 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:
84 FR 38724
08/07/2019
30-day Notice:
Federal Register Citation:
Citation Date:
84 FR 69464
12/18/2019
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Treasury International Capital (TIC) Form CQ-1 "Report of Financial Liabilities to, and Financial Claims on, Unaffiliated Foreign Residents" and Form CQ-2 "Report of Commercial Liabilities to, and Com
CQ-2, CQ-1
CQ-1
,
CQ-2
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
500
572
0
0
-72
0
Annual Time Burden (Hours)
3,350
3,832
0
0
-482
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:
For Forms CQ-1 and CQ-2 there will be a decrease of 482 burden hours to 3,350 as compared to the estimate of 3,832 currently carried in OMB's Information Collection Inventory. The decrease is entirely due to a decrease in the number of respondents.
Annual Cost to Federal Government:
$178,426
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.
No
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.
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:
Dwight Wolkow 202-622-1276 wolkowd@do.treas.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:
12/19/2019
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