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View ICR - OIRA Conclusion

OMB Control No: 1506-0058	ICR Reference No: 202102-1506-002
Status: Historical Active	Previous ICR Reference No: 201709-1506-003
Agency/Subagency: TREAS/FINCEN	Agency Tracking No:
Title: Records to be made and retained by financial institutions (31 CFR 1010.410 and 31 CFR 1022.420)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/30/2021
	Date Received in OIRA: 02/24/2021
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2024	36 Months From Approved	04/30/2021
Responses	64,493	0	94,600
Time Burden (Hours)	1,854,742	0	2,150,200
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Adjustment in Estimate
Annual Number of Responses	64,493	94,600	-30,107
Annual Time Burden (Hours)	1,854,742	2,150,200	-295,458
Annual Cost Burden (Dollars)	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 total annual burden hours decreased by 295,458 hours from 2,150,200 hours in 2017 to 1,854,742 hours in 2020, although the annual hourly burden estimates for each regulatory requirement remained the same as in 2017. The reduction in burden is solely a result of a decrease in the number of financial institutions from 94,600 in 2017 to 64,493 in 2020.

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. 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? No

Agency Contact: FinCEN Resource Center 800 767-2825 frc@fincen.gov

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